IstarSystems Expands in Irvine; Clark Breaks Ground in Santa Fe Springs
A local radio show with a real estate focus has moved down the dial.
“The Real Estate Today Show” made its debut in December on KRLA 870 AM. But the show’s producer, Calvin Johnson, said he wanted a better fit for the program.
The new home as of May 25 is KPLS 830 AM,Orange/LA Newstalk,and it is airing Saturdays from 11 a.m. to noon. The show broadcasts from Orange but the signal extends into Los Angeles County, Johnson said.
Wilbert Hardy, a licensed broker, is the show’s host. But readers of this column may be particularly interested in the “Creating Communities” segment hosted by Christine Diemer Iger, chief executive of the Orange County chapter of the Building Industry Association. The BIA had been with the show on the previous station and made the move to KPLS.
“This show is different from just a traditional real estate show,” Johnson said. “We address real estate as well as real estate-related issues such as affordable housing, slow-growth initiatives, redevelopment and urban renewal.”
COMMERCIAL
Founded by i2 Technologies Inc. and Toyota Motor Sales, Irvine-based iStarSystems Inc. has expanded its lease to 26,500 square feet at Jamboree Center.
The company hosts an online marketplace for automotive aftermarket products. IstarSystems’ software allows industry players to manage their manufacturing, inventory and warehousing.
IStarSystems selected Jamboree Center for its national headquarters because of its location, according to E.J. O’Leary, chief executive of iStarSystems. The company wanted access to the Irvine area’s “large, qualified, tech-savvy workforce,” O’Leary said. In the past year, the company has grown to 120 employees, requiring additional workspace.
Other Jamboree Center tenants include Microsoft Corp., Bank of America Corp., Philips Semiconductor and The Geneva Cos.
“IStarSystems fuses two prevalent industries located on the Irvine Ranch, high-tech and automotive,” said Bill Halford, president of The Irvine Company’s office properties unit.
Bits and Pieces:
Using a tax-deferred 10-31 exchange, P.J. Livingston Co. of Fremont paid $17.5 million for the 94,098-square-foot Redhill Technology Center in Santa Ana, according to Bob Smith, a senior vice president with CB Richard Ellis’ Newport Beach office. Newly constructed, the property is 100% leased. New York-based Rare Medium Group Inc., an Internet design firm, and Santa Fe Springs-based Tangram Interiors, a corporate furniture company, are the major tenants. Smith represented the sellers, LNR Property Corp. and Werdin Corp. John Kuhl of John Kuhl & Co., Newport Beach, represented P.J. Livingston Newport Beach-based Clark Management & Development LLC recently broke ground on a pair of Santa Fe Springs industrial buildings. The two single-tenant, freestanding buildings at 12230 and 12234 Florence Ave. will total 63,000 square feet. Completion for both buildings is set for late summer. Steve Sprenger and L.R. Sanders of Grubb & Ellis’ Anaheim office and John Hollingsworth of Grubb & Ellis’ Long Beach office are marketing the buildings for manufacturing or distribution uses. Both buildings are available for sale or lease Newport Beach-based InterCommunications Inc. has been named the marketing firm for Lake Las Vegas Resort, a masterplanned community in Henderson, Nev. Intercom already heads up marketing for other Nevada masterplanned communities. Lake Las Vegas is a $5 billion, 2,600-acre development 17 miles from the Vegas strip. Single-family and large custom homes range in price from $400,000 to more than $2 million The Long Beach Board of Harbor Commissioners completed contracting for the first phase of the Terminal Island Pier T when it awarded a $71.4 million contract to Griffith Co. of Santa Fe Springs. Griffith Co. has agreed to build an on-dock rail yard. Last month, Pinner Construction of Anaheim won a $50 million contract for the construction of terminal buildings, including an administration building. Pinner will construct 140,000 square feet of buildings and another 56,500 square feet of canopy, among its Pier T projects. The Pier T terminal is being built at the site of the former Long Beach Naval Station and Naval Shipyard and has been leased to Hanjin Shipping Co. of South Korea.
RESIDENTIAL
Irvine Community Development Co. has named eight guest builders for Shady Canyon, an exclusive residential community in Irvine.
The eight builders are Brookfield Custom Homes; Dugally Oberfeld LLC; Fari International Inc.; Glass Construction Corp.; Los Trancos Development Inc.; Monarch Estates; Pacific Design Estates Construction, Inc.; and Warmington Custom Homes.
“The homes created by the guest builders will recapture the golden age of California residential design of the 1920s and 1930s, fully updated of course, but not in outward appearance,” said David Ko, Shady Canyon project architect.
Shady Canyon includes some 400 custom homes ranging in price from $600,000 to more than $2 million.
