Katie Murar

Staff Reporter

Email: murar@ocbj.com
Phone: 949-833-8373

Recent Stories

WeWork Latest: Full Office Near JWA

COWORKING: 3 floors now, 2 more later

WeWork has struck a huge deal to occupy the bulk of a five-story office near John Wayne Airport, its latest notable lease in Irvine this year.

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Midday Stock Roundup

The S&P 500 was down 0.1% to 2,976.61 during midday trading.

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Prologis Buys 12-Acre Site in Anaheim

Fry’s Electronics Store In Line for Reworking

With empty land scarce for industrial developers in Southern California, San Francisco-based Prologis Inc. is taking a new approach: converting sites now used by retailers into warehouses.

Visions for a Multi-Mixed-Use Project

ARCHITECTURE: New hotel, food hall, shark tank

“There’s nothing like this in Orange County,” said Tom Bergerson.

Hot Summer

$126M in Luxe Newport Beach Sales Since June

August brought a flurry of high-end home sales in Newport Beach.

‘Duffy Home’ Sets Newport Harbor Record

$35M Sale For Custom Mansion

A sprawling Newport Harbor estate that garnered its share of local and international attention in the past year sold late last month for $35 million.

Surf City Industrial Project Moves Ahead

Trio of Buildings Will Run 610K SF

Sares Regis Group has started ground-up construction on Huntington Gateway Business Park, the largest new industrial project currently on the books in the county.

KBS Assets Hitting Market

Six Properties Include LA Tower

Newport Beach-based KBS Realty Advisors plans to sell the remaining office portfolio of KBS REIT II, one of the firm’s nontraded investment trusts.

Prologis Buys 12 Acres for $40M

San Francisco-based industrial developer Prologis (NYSE: PLD) paid $40 million for a 12-acre site in Anaheim.

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KBS Exec: No Downturn on Horizon

Schreiber Notes Strong Leasing

Chuck Schreiber, CEO and co-founder of Newport Beach-based KBS Realty Advisors, struck an optimistic tone when discussing current commercial real estate market conditions at a recent industry conference.

Top Price for Newport Heights Medical Campus

REAL ESTATE: 60K-SF complex fetches $840 PSF

A newly built medical office complex in Newport Beach has traded hands at one of the highest per square foot prices ever seen for a non-hotel property in Orange County.

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Buchanan Street Adds More Rentals in Colorado

$54.5M in Colo. Springs; Big Millennial Market

Newport Beach-based Buchanan Street Partners is ramping up its multifamily portfolio outside of California.

Buchanan Street Adds in Colo.

Buchanan Street Partners bought an apartment complex in Colorado Springs.

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Irvine Marriott Sells for $170M+

HOSPITALITY: 485-room sold by CBRE offshoot

The Irvine Marriott, the city’s second-largest hotel by room count, has quietly changed hands at a more than 33% premium to its last trade in 2015.

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Laguna Luxe Deals See Shift

Sales Slowing In Pricy Submarket

For luxe listings in Laguna Beach, it’s all about finding the right price—for the seller.

2nd Montage Sale Near $19 Million

Down the Street From Cuban Home

A Laguna Beach estate near Mark Cuban’s $19 million vacation home has traded hands for about the same price, records indicate.

Landsea Homes Doubles Up in Ontario

334 Homes Planned; 2021 Opening

Newport Beach-based Landsea Homes is the latest local homebuilder looking to boost sales of lower-priced houses in the Inland Empire.

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Costa Mesa Marriott Nears Sale

Host Hotel Says Deal Imminent

Shortly after selling the Newport Beach Marriott Bayview in the largest local hotel sale in nearly a year, Host Hotels & Resorts is looking to unload another local property.

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New Dawn For 6AM Site in LA?

SunCal Project Inks Trade Agreement

There are signs of life for a high-profile downtown Los Angeles project being overseen by Irvine’s SunCal Cos.

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Space As a Service

OC Coworking Firms Add Large Users, Square Footage

PepsiCo Inc.’s decision to quietly move a good portion of its western U.S. operations to Irvine’s 2-year-old The Boardwalk office campus along Jamboree Road is a testament to the growing, and changing, role that shared space operators play in Orange County’s business community.

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Landsea Goes Large on Inland Investment

Newport Beach-based Landsea Homes bought 334 lots at Ontario Ranch, and 8,200-acre master plan near Interstate 15 and the Pomona (60) Freeway.

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Midday Stock Roundup

Stock indexes rallied during Monday midday trading after the White House signaled progress on trade negotiations, and news that the government would extend a 90-day temporary license allowing China’s Huawei Technologies to continue doing business with U.S. firms. (continue reading)

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Santa Ana Offices Sell for $97M

REAL ESTATE: Fourth OC buy for Drawbridge

Santa Ana’s office market continues to be a prime source of large local deals this year, after the two-building Pacific Center complex in the city traded hands for about $97.5 million.

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FivePoint CEO: Trade Wars No Concern

Strong Profit Margins At Great Park

If there’s an effect of the U.S.-China trade wars being felt in Orange County, don’t look to Irvine’s Great Park Neighborhoods.

Pacific Rim Capital Expands in Spectrum

$202M in Sales For Equipment Lessor

Pacific Rim Capital Inc., already the country’s largest independent lessor of forklifts, cranes and other material-handling equipment, has more growth in the works.

OC’s Coworking Surge: Approaching 2M SF

Premier Workspaces Retains Top Spot, for Now

WeWork’s recently filed plans for an initial public offering—one that values the company at nearly $47 billion—has all eyes on coworking; but the spotlight on the shared space office sector has been on—and getting brighter—for years.

Steadfast Companies Merging Trio of REITs

$3.3B in Assets In Portfolio

Irvine-based real estate investor and developer Steadfast Cos. plans to merge three nontraded real estate investment trusts it oversees into one combined entity with a combined $3.3 billion in real estate assets, primarily apartments.

Ice Packs, E-Course Software Filling Spectrum Terrace

REAL ESTATE: Tenants join WeWork at complex

Two of the area’s; faster-growing private companies—sports fitness device firm Hyperice and Kajabi LLC, a website creation platform for small businesses and online entrepreneurs—are planning their next stages of growth at Irvine’s newest office park.

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Investor-Developer Forming $3.3B REIT

Irvine-based Steadfast Cos. will merge three non-traded real estate investment trusts into one entity with $3.3 billion in assets, including 71 properties across 14 states.

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Buyer Reveal: Trout Gets $9M NB Digs

Los Angeles Angels of Anaheim centerfielder Mike Trout paid $9.2 million for a Newport Beach home.

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Midday Stock Roundup

U.S. stocks declined during midday trading following continued unrest in Hong Kong and U.S.-China trade tensions. (continue reading)

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Meet and Eat

Restaurants Boost, Benefit From Meetings & Events

The second-most asked question at meetings and events is “Which way to the ___________ Ballroom?”

Sinkin’ Feeling No More

The future home of 39 Commons is about a mile south of Knott’s Berry Farm in Buena Park.

Intracorp Adds Rentals to IBC Mix

Plans 178-Unit Apartment Project

Vancouver-based developer Intracorp, one of the few developers of for-sale housing in the Irvine Business Complex the past few years, is adding an apartment development to its local portfolio.

Quiet Logistics Makes Noise With Lease

424,000-SF Deal For La Palma building

A 424,000-square-foot lease has been inked in La Palma, in one of the largest area industrial deals in the past few years.

Tustin Industrial Site Sells for $20M

Redevelopment in Store; New Building Possible

Renovations and a major expansion are being considered for a 95,000-square-foot Tustin building that traded hands last month for nearly $20 million.

New Development Plans for ‘Sinkin’ Lincoln’ Site

REAL ESTATE: Homes and grocery store planned

A long-vacant, 30-acre site on the western side of Anaheim will soon see an ambitious, and recently reworked, mixed-use development featuring retail uses and for-sale homes break ground.

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Market Watch: Lower Demand, and Prices

Local Pullback In Chinese Investment

Orange County continues to experience a pullback in foreign investment—specifically from Chinese buyers—for high-end homes, according to local real estate experts, who say that downward pressure on prices and the volume of sales are likely to result.

Harbor Ridge Estate Trades for $9.2M

6 Bedrooms; Includes Elevator

A six-bedroom home in the Harbor Ridge neighborhood of Newport Beach has sold for $9.2 million, property records indicate.

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424K-SF Lease in La Palma

Quiet Logistics leased a 424,000-square-foot industrial building in La Palma.

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Intracorp: More OC Units

Intracorp closed on an Irvine parcel that will hold 178 apartment units. It's also building in Fullerton.

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JWA June Traffic Down

John Wayne Airport passenger traffic decreased 3.4% in June to 919,000 compared with the same month last year.

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Albertsons Sells Huge Irvine Industrial Site

REAL ESTATE: Grocer staying on as tenant

Albertsons Cos.’ sprawling Irvine distribution center, which includes the largest industrial building in South Orange County, has traded hands in a sale-leaseback deal for about $278 million, the Business Journal has learned.

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Hotel Rates, Revenue Up

Local hotels saw higher daily rates and revenue per available room on lower occupancy levels in June, CBRE Hotels said.

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Long Beach Airport Traffic Down

Long Beach Airport traffic decreased 13% year-over-year in June to 307,000 passengers; year-to-date traffic is down nearly 16% to 1.7 million passengers.

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Legend Larry Webb Passes on CEO Role

HOMEBUILDING: Wants lower debt, cheaper homes

Times have changed since the last time New Home Co. (NYSE: NWHM) founder Larry Webb departed a company as chief executive.

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Midday Stock Roundup

Major U.S. indexes plunged more than 2% apiece during midday trading following the weakening of the Chinese yuan against the dollar, the latest sign of trade war tensions.

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UCI Looks to Boost On-Campus Housing

EDUCATION: Nearly 4,000 new units proposed

The University of California-Irvine is looking to boost its on-campus housing allowance, adding nearly 4,000 apartments for undergraduates and graduate students.

Pool Parties, Beer Pong Boost P&P

Industrial Lease Among Top Near JWA This Year

Consumer goods distributor P&P Imports LLC is blowing up.

Brea Corporate Park Up For Sale

229,000-SF Complex More Than 90% Leased

Brea Corporate Park, a seven-building office complex along Imperial Highway, has been listed for sale.