Mark Mueller covers commercial and residential real estate for the Orange County Business Journal. His beat also includes title insurers and mortgage lenders, as well as government stories that relate to real estate. He can be reached at firstname.lastname@example.org.
Phone: 949-833-8373 Extension: 226
Palmer Luckey's Anduril Touts Border Technology, Refines Irvine HQ Plans
Anduril Industries, one of Orange County’s more closely watched startup firms, is ramping up its public profile, not to mention its defense and security-focused technology offerings, while shedding more light on its local growth plans.
Irvine’s ATTOM Data Solutions has been acquired by Lovell Minnick Partners, a Philadelphia-based private equity firm, on undisclosed terms.
Bill Gross spoke to just two reporters last week after announcing his impending retirement.
Newport Beach Co-HQ; Could Command $1B
Drunk Elephant LLC has its eyes on being the next cosmetics company with roots in Orange County to pass the $1 billion mark in valuation (see related story, front page).
The City of Hope is coming to Orange County, a few years earlier than expected.
How Leigh Steinberg Landed the NFL’s Newest Superstar
Leigh Steinberg doesn’t represent any of the Los Angeles Rams or New England Patriots playing in the Super Bowl.
Close to $5 billion was spent on new Orange County homes in 2018—builders’ second-best sales year in the last 15.
26,500 New Rental Units Since 2010
OC’s new home market saw a 10% drop in sales volume last year (see story, page 1), but the region’s multifamily future remains bright.
Take Largest of Four Buildings from Panattoni
Panattoni Development Co.’s Orange County Commerce Center, a four-building industrial project straddling Anaheim and Placentia that’s one of the largest industrial developments now underway in the county, has its first tenant.
RESTAURANTS: Irvine lease tops for quarter
Taco Bell Corp., the largest restaurant chain operator based in Orange County, has re-upped the lease for its headquarters in the Spectrum area of Irvine, real estate sources tell the Business Journal.
REAL ESTATE: Biggest OC sale in past year
A massive industrial building in Brea that serves as a distribution center for much of Albertsons Cos.’ operations in Orange County quietly changed hands around the start of the month, in what records indicate is the largest single-building property sale here in over a year.
A Super Bowl prediction: Rams fans in the area will be smiling at the end of next week’s big game in Atlanta.
Parcel Pending, an upstart Irvine-based company that uses electronic lockers and proprietary software to store and access delivered packages, has been acquired by a mail and shipping company based in France.
Family Investment Group Pays $41M for Building
The former Anaheim headquarters of Fisker Automotive and Technologies Group LLC has sold for the fifth time since 2006 and at what property records indicate is the highest price over that time.
Mo Honarkar made headlines last week for a string of property buys along the coast of Laguna Beach.
22,000-sq.-ft. Lease for Drug Company With 2018 IPO
Urovant Sciences Ltd., an Irvine-based clinical-stage biopharma company that started operations in 2016 and went public last September, is about to get a much larger home near the University of California-Irvine.
AUTOMOTIVE: Joins Zotye, Karma
Add GAC Motor to the growing cadre of Chinese automakers establishing operational hubs in Orange County.
REAL ESTATE: Takes over former Broadcom office near UCI
Skyworks Solutions Inc., Orange County’s third largest maker of computer chips by local employee count, appears poised to significantly expand its operations after striking a large lease near its existing Irvine offices.
GAMING: Allied, World Poker Tour part of $214M merger
Orange County’s role as a hub in the fast-growing esports industry will become even more pronounced after one of its main corporate players, Allied Esports International Inc., sets up headquarters in Irvine and goes public this year via a reverse merger.
Honarkar Takes Over 7 Properties Along PCH
Businessman Mo Honarkar, a Laguna Beach resident who’s among the city’s largest real estate owners, said last week he added seven new properties along South Coast Highway to his portfolio, including the iconic Hotel Laguna.
Mo Honarkar could soon supplant Dane Eiler “the Greeter” Larsen as Laguna Beach’s best-known local after buying a stretch of city properties along Coast Highway, including the iconic Hotel Laguna (the Insider’s favorite wedding spot), which Honarkar vows to restore “to its former glory.”
DEVELOPMENT: SmartHome site eyed for congregate care
A Dallas-based developer of senior living properties has bought a 3-acre site along Barranca Parkway in Irvine, and plans to start construction later this year on one of the city’s largest and amenity-heavy residential complexes for older residents.
$72.5M Buy Tops for ’18 In Colorado Springs
Buchanan Street Partners closed 2018 on a high note, completing one of the largest apartment transactions of the year in Colorado.
Olson Brings Hotel Glitz to NB, Irvine, Dana Point
It’s been a whirlwind period of growth for Bob Olson, who over a 10-year stretch has gone from Orange County’s biggest and best-known hotel developer, to the largest in Southern California, to the most prolific in the Golden State.
INNOVATION: Trio start Digital Motors
Andy Hinrichs, the co-founder and former chief executive of Irvine-based AutoGravity Corp., one of Orange County’s fastest-growing and better-funded fintech firms, has begun to take the wraps off his latest startup venture.
Yachts usually take center stage during the Newport Beach Christmas Boat Parade, but Bob Olson’s ornately-decorated home on Balboa Island caught plenty of attention on the first day of the city’s annual holiday extravaganza, both for its exterior decorations and the guests for a Dec. 20 event there.
Other items of interest Orange County Business Journal Vol. 42, No. 1
Sales totals at Orange County’s largest master-planned communities fell by more than 50% in 2018 amid the close-out of some larger projects in the area, according to a new report from John Burns Real Estate Consulting.
Big Office Lease Reported At The Met Complex
Orange County’s largest public company, Edwards Lifesciences Corp. (NYSE:EW), appears to be expanding its local operations and is taking up space in areas outside its Irvine home.
$7M for 2.8 acres of Land Next to Element Campus
Glaukos Corp. isn’t done with its expansion plans in Aliso Viejo.
Other items of interest Orange County Business Journal Vol. 41, No. 52
The interior space at the former Laguna Hills Mall will close on Dec. 31, according to the property’s owner, Merlone Geier Partners.
The Business Journal’s final issue of 2018 features our 2019 Economic Preview, and who better to give their take on where the economy is headed than 2000s Bond King of the Decade Bill Gross.
REAL ESTATE: 5-office complex next to stadium
The five-building office campus in Anaheim next to Angel Stadium that holds the headquarters of the Orange County Register and others has sold for $83.1 million.
AltaMed’s Buy Marks End to Restaurant Co.’s OC Presence
An Anaheim office built for CKE Restaurants Holdings Inc.—parent company of one of Orange County’s iconic businesses, burger chain Carl’s Jr.—has been bought by a healthcare provider, marking an end to CKE’s corporate ties in the area.
Orange County’s real estate market refused to be distracted, or largely impacted, by forces outside the area in 2018.
Childress Ventures Pays $9.6M for Corner Site
Former NBA hoops star Josh Childress has bought a shopping center and office building across the street from South Coast Plaza.
Ducks Owner Pays $125M for Office Site Next to Stadium
Anaheim Ducks owner Henry Samueli has made his largest reported acquisition, buying a three-building office complex that sits next to the Honda Center, home of his hockey franchise.
Busy Corner: Hotel Next To Office Sold in October
The intersection of Main Street and Von Karman Avenue in Irvine, already one of the busiest in the city, is now one of the busiest for real estate transactions.
REAL ESTATE: Mix of rentals, for-sale from Alliance, KB Home
One of the last sites in the Irvine Business Complex approved for housing redevelopment under the city’s current 15,000-unit cap for residential entitlements in the fast-growing area has traded hands for a hefty price.
It’s one thing, perhaps expected at this point, for Texas to poach local companies looking for cheaper business environments.
Largest OC Deal for Pendulum Property Partners
Irvine-based Pendulum Property Partners, a real estate investment and development firm that started operations in 2016, has made its largest area purchase to date, buying Huntington Beach’s most prominent office complex.
REAL ESTATE: Developer still on hook, despite $118.5M price
Not every new apartment project in Irvine’s rapidly-growing base of rental communities is a money-winner for its development team.
Dec. 4 will see a swearing-in ceremony for Anaheim’s two new city council members, one re-elected council member, and a new mayor, Harry Sidhu, a pro-business Republican candidate, Disney ally, and former city councilman.
Tech Giant Adds More Space and Jobs in Irvine
It’s a good time to own property leased to tech giant Google.
Spectrum, Costa Mesa Get 2nd spots
New York-based coworking giant WeWork Inc. has added two more prominent Orange County locations to its quickly expanding local portfolio, which now includes five existing and coming office spots that top 200,000 square feet combined.
$18.6M Buy as Duo Nabs Glaukos for AV Campus
It’s been an active few weeks for Newport Beach-based Stillwater Investment Group, a privately held investor in office, industrial, apartment and retail properties that’s been operating since 2014.
INNOVATION: $2.5M for Costa Mesa’s Nimble
Costa Mesa-based Nimble, a newly formed maker of what it’s promoting as sustainably made smartphone accessories, has raised $2.5 million to help fund growth.
AUTOMOTIVE: Zotye sets up in Lake Forest
Chinese carmaker Zotye Automobile International Co. plans to use a new Lake Forest-based distribution company to sell vehicles in the U.S. by 2020.
HOSPITALITY: 12-story project a mile from Disney
A contentious political climate in Anaheim over the past few months hasn’t stopped every high-end hotel project in the city from moving ahead.
REAL ESTATE: 3-office lease biggest in OC in 2018
Fast-growing medical device maker Glaukos Corp. is moving its headquarters from San Clemente to Aliso Viejo, after striking the largest office lease of the year in Orange County.