Another one of Orange County’s largest law firms is officially off the market for relocation.
Irvine’s Jackson DeMarco Tidus Petersen & Peckenpaugh, which specializes in real estate, business, taxes, employment, immigration and intellectual property law, just extended its lease for its headquarters at 2030 Main St. for another nine years.
The new deal at the Wells Fargo Tower is for 50,773 square feet, according to brokers at Irvine-based Studley Inc. That’s a sizable increase from the 34,358 square feet the law firm had been occupying in the building, which is owned by OTR.
Terms of the deal weren’t disclosed. Monthly rents at the building run about $3.30 per square foot.
The expansion was expected, following a May combination between Jackson DeMarco and Newport Beach’s Castle, Petersen & Krause LLP.
Jackson DeMarco took on Castle, Petersen & Krause’s three name partners, 10 other lawyers and about 25 other workers. Gregory Petersen of Castle, Petersen & Krause joined as a shareholder and name partner.
At the time of the combination, Jackson DeMarco president Ruth Mijuskovic said the firm intended to stay at its current location, but was looking to take on closer to 10,000 square feet of extra space.
Jackson DeMarco now has 70 lawyers at its headquarters and about a dozen in Westlake Village.
It was the No. 9 law firm in Orange County by lawyers, according to the Business Journal’s most recent list. It could move up a few spots following the combination of the two law firms.
Studley’s Royce Sharf, Bruce Schuman and Mike Props represented Jackson DeMarco in the deal. The landlord was represented by CB Richard Ellis Group Inc.’s John Weiner.
Hager Pacific Deals
Newport Beach’s Hager Pacific Properties, the privately owned real estate investment company with about $1.5 billion in properties, has made its first OC acquisition in more than three years.
The company bought a 65,000-square-foot industrial building in Anaheim for about $6 million.
Expo Dyeing and Finishing Inc., a textile dyer, occupies the building under a long-term lease.
The property is at 1365 N. Knollwood Circle.
Hager Pacific now owns 10 properties in the county, totaling more than 1 million square feet, according to managing partner Robert Neal.
Its total portfolio runs more than 12 million square feet and includes 3,000 apartments.
Elsewhere in the state, Hager Pacific this month got Stater Bros. Holdings Inc. to sign a 15-year lease extension for its 788,000-square-foot headquarters in Colton.
The lease is valued at more than $35 million.
Stater Bros. is having a new headquarters built for it at the former Norton Air Force Base in San Bernardino.
It’s expected to sublease the Colton office, warehouse and distribution space once the company relocates.
Urban West in Carlsbad
Santa Ana developer Urban West is moving ahead with a $36 million office development in Carlsbad.
The project, called the Ocean Collection at Bressi Ranch, is set to include for-sale office buildings, ranging from 1,000 to 11,000 square feet, and will total about 160,000 square feet.
Urban West plans to break ground immediately, with development completed next spring.
The company is working with two Irvine-based companies on the development,Snyder Langston is the general contractor and Ware Malcomb is the project architect.
It’s the second project for Urban West in Bressi Ranch, the 585-acre masterplanned community in southeast Carlsbad. In June, Urban West bought a 2-acre site there, where it plans to build a medical office building.
Locally, Urban West’s most notable planned development is Parc Anaheim, a 449-home project proposed near Disneyland Resort.
That project, set to include two 10-story towers, is in limbo as Disneyland Resort’s fight over housing projects in the Anaheim Resort District continues.
Developer Expands in Houston
Carson Cos., a Newport Beach-based developer of industrial properties, is expanding in Houston.
The company announced the acquisition of a 191,000-square-foot Houston building, bringing its portfolio in the area up to 750,000 square feet. It entered the market a year ago.
Carson Cos. also bought 21 acres of land in the area that can hold another two buildings totaling about 400,000 square feet.
The company’s portfolio totals nearly 11 million square feet of warehouse and distribution buildings, located primarily in Southern California.
