Kicks Off Opportunity Zone Investment Program
Irvine-based Avanath Capital Management LLC owns and operates about 9,500 apartments nationwide, including one of the country’s larger collection of affordable-housing complexes.
Long Beach Measure Watched in OC
Overtime regulations, new human trafficking training regulations that take effect next year, and efforts to eliminate sexual harassment are at the forefront of the latest batch of labor issues taking aim at the hospitality and tourism sector.
John Wayne Airport passenger traffic rose 0.3% in January to 819,000 compared with the same month last year.
Five Point Holdings, LLC (NYSE: FPH) has sold an additional 41 acres of land at its Great Park Neighborhoods development in Irvine for about $218 million, the company announced Wednesday as part of its fourth quarter earnings report.
Stock markets are rebounding Monday after January retail sales figures beat expectations.
Moves HQ Near Prado West Rentals
Raintree Partners LLC is thinking long term about Dana Point.
Transactions Down 20% Amid Rising Rates
Title insurers continued to see a decline in business last year, a trend they hope will stabilize in 2019 and end two years of consecutive losses.
Stillwater, Waterford Join Forces
John Drachman landed Orange County’s most in-demand tenant of 2018, when his Stillwater Investment Group convinced Glaukos Corp., a fast-growing medical device firm with a $2.2 billion valuation, to move its headquarters from San Clemente to Aliso Viejo.
$3.2B Sales, 3.9M SF of Office, Industrial Leases
Blockbuster office and apartment transactions took center stage in Orange County last year, while industrial and retail sales failed to attract as many deep-pocketed investors.
Disneyland Resort in Anaheim will open its Star Wars: Galaxy’s Edge attraction in two phases, starting May 31.
About 50 million people visited OC last year, including 24.4 million that came to Anaheim, according to Orange County Visitors Association and Visit Anaheim.
Stocks dropped in midday trading after technology shares slumped and investors awaited news from ongoing trade talks between the U.S. and China.
REAL ESTATE: Foreign buyers pull back in OC
Orange County’s contingent of publicly traded homebuilders experienced a rough fourth quarter, as consumers pulled back on purchases amid rising interest rates, a volatile stock market and continued issues of affordability.
Could Command Price Topping $100M
A 290,000-square-foot Fullerton shopping center anchored by Sam’s Club and Home Depot is on the market, with offers due this week.
Long Beach Airport traffic dropped 18% in January to 265,000 passengers.
Irvine-based homebuilder Tri Pointe Group Inc. (NYSE: TPH) reported a 34% jump in net income during the fourth quarter while forecasting a decline in both new homes and their average selling prices this year.
REAL ESTATE: March opening for first phase
Tustin’s Flight office project, set to open in about a month, has a number of firsts going for it.
Terrence Dwyer is stepping down as president of the Segerstrom Center for the Arts.
Reinvesting in Apartment Project Across the Street
2019 is shaping up to be an eventful year for retail developer LAB Holding LLC, the Costa Mesa firm behind some of Orange County’s hipper shopping and dining spots.
Lincoln Property Co. remains an active investor in area office properties, along with its recent development efforts.
Irvine-based Sundt Construction broke ground on an $80 million project at Cypress College.
The Cove, the University of California-Irvine’s tech facility and office space that is home to the school’s Applied Innovation business and entrepreneur incubator program, is gearing up to expand its presence in Orange County’s startup scene.
Botox Competitor Takes Acacia’s Space
Botox rival maker Evolus Inc. has moved its headquarters from Irvine to one of Newport Beach’s most exclusive office towers—and it appears to be getting a deal to do so.
Carter Hospitality Group in Santa Ana named former Fairmont Newport Beach General Manager Karl Kruger to run two Temecula winery resorts it owns.
Aliso Viejo-based hotel REIT Sunstone Hotel Investors Inc. (NYSE: SHO) reported better-than-expected fourth-quarter results Tuesday, with revenue increasing 3.2% to $280.9 million in the period.
TOURISM: Backing BAFTA brings Brits to beach town
Newport Beach tourism executives took a trip across the pond last week to attend the British Academy of Film and Television Awards—BAFTA—and promote the affluent city while there.
Montrose CFO Preps for Potential IPO
Irvine-based environmental consulting firm Montrose Environmental Group Inc. is the latest notch in the career belt of Allan Dicks, who has led financial operations at six public and privately traded companies in the past decade.
$106M Sale to Rexford, Which Also Buys in OC
Irvine-based developer Sares Regis Group has sold one of its newest and largest business parks, a 28-acre industrial site in the Ventura County city of Thousand Oaks.
Shaheen Sadeghi has been tapped to head the retail portion of The Press development site in Costa Mesa, a long-awaited creative-office project now starting to make headway in terms of construction work.
Walt Disney Co.’s parks and resorts division, which includes Anaheim’s Disneyland Resort, first quarter revenue rose 5% to $6.8 billion while operating income increased 10% to $2.2 billion from the same period a year earlier.
Long Beach named Claudia Lewis interim airport director as it continues to seek a replacement for Jess Romo, who stepped down on Jan 31.
REAL ESTATE: Largest single-story building in state
Starboard Realty Partners has made the largest—and priciest—addition to its portfolio with the purchase of a Sears Holdings Corp.’s regional distribution center in Colorado for $40.8 million.
HOSPITALITY: $25M for Residence Inn
Pacifica Hotels has the largest hotel portfolio by total properties—41—of any Orange County-based hotel operator.
The number of hotels sold last year in Orange County declined 30% to 16 with a cumulative value of $343 million, according to a report by Atlas Hospitality Group in Irvine.
Indexes fell broadly after disappointing results reported Monday by major corporations Caterpillar and Nvidia.
Companies, Couples, Churches Bolster Business
Ayres Hotels likes taking meetings—about 20% of its total business comes from events of one sort or another.
Beach Resorts Big Gainers on List’s New Approach
In a list that rarely sees changes, the New Year brings a new look to the Business Journal’s ranking of OC hotels by total meeting space.
Yamaha Boss Talks NAMM
Tom Sumner is no stranger to the National Association of Music Merchants, or NAMM.
Niche Marketing Show Biz, Memories and STEM Industry
Once and future events—last year, this year, and next—at the Anaheim Convention Center show growth in two key niches at the facility.
Long Beach Airport traffic dropped 12% in December to 298,000 passengers.
John Wayne Airport passenger traffic dropped about 8% in December to 828,000 compared with December 2017.
A long-rumored L.A. location for Irvine-based Montage International’s lifestyle Pendry Hotels division could open as early as next year on the Sunset Strip, at the former site of a House of Blues.
Investment Flurry Around OC’s 2 Biggest Stadiums
Anaheim elected officials envision the city’s Platinum Triangle as an area set to become Orange County’s new downtown in the not-too-distant future.
REAL ESTATE: Breweries considered for 9-acre site
Pacific Industrial has doubled up on its commercial property holdings in Anaheim’s Platinum Triangle.