| OC Manufactured Housing Community Refinanced with $48 Mil in Fannie Mae Money
Kort and Scott Financial Group obtained a $48.8 mil Fannie Mae structured adjustable-rate loan to refinance its leasehold interest in Lincoln Center Mobile Home Park, a 305-unit manufactured housing community in Cypress, a ci...
| New $120 Mil Irvine Spectrum Marriott Hotel is Finished
Construction has been completed on the new, $120 mil Irvine Spectrum Marriott hotel, developed by Spectrum Gateway Hotels LLC. The 271-room hotel, built by R.D. Olson Construction and designed by renowned international archit...
| OC Raising Cane’s Sells for $1,222/sf at Just Over 4% Cap Rate
A new single-tenant, Raising Cane’s Chicken Fingers located in La Habra in Orange County sold for $3.96 mil, or $1,222/sf. The 3.2k sf building with drive-thru, newly remodeled in 2017, sits on just under one acre at 1050 S....
| Kelemen Caamano Investments Lands $34 Mil Bridge Loan on Irvine Office Park
Kelemen Caamano Investments (KCI) obtained a $34 mil bridge loan on Corporate Pointe, a five-building portfolio located at 1, 3, 5, 7 and 9 Corporate Park in Irvine. The financing was arranged by Joe Giordani and John Marshal...
| OC Office Asset Traded in $10 Mil Transaction
A private investor paid $10.4 mil for Placentia Office Park, a two-building, 72.9k sf ($143/sf) office property in Placentia. The property, located at 701 and 711 Kimberly Ave, near the 57 and 91 freeways, was sold by Guthrie...
| Newport Beach Multifamily Property Sells for $444k/Unit
Waterford Residential LLC has purchased Dover Shores Apartment Homes, an 18-unit apartment building in Newport Beach, for $8 mil ($444.4k/unit). The property, located at 1606-1674 Westcliff Dr, was sold by a private investor....
| Fountain Valley Office Property Purchased in $9.7 Mil Deal
Orange County Sanitation District paid $9.75 mil for a 44.2k sf ($221/sf) office building in Fountain Valley. The property, located at 18350 Mount Langley St, east of Brookhurst St by the 405 Fwy, was sold by K&A Investments ...
| OC Multifamily Portfolio Traded in $42 Mil Deal
In a notable residential buy out of Orange County, an affiliate of Empire USA LLC purchased a four-property, 214-unit multifamily portfolio in Santa Ana. The properties sold for a total of $42.5 mil, which equates to more tha...
| Newport Beach Office Building Trades for Over $400/sf
Platinum Storage Group paid $3.325 mil for an 8k sf ($413/sf) office building in Newport Beach. The building, located at 4920 Campus Dr, just east of Von Karman Ave, was sold by a private investor.
The single-story property ...
| Premier Business Centers Acquires Its First Location in NY City
Premier Business Centers®, the big Irvine-based flexible workspace operator, has acquired its first location in the state of New York by purchasing Prime Office Centers’ 521 5th Avenue location in New York City. The building ...
| Irvine Office Asset Sells for $41.7 Mil
Corporate Pointe, 160.5k sf, multi-building office campus in Irvine, sold for $41.7 mil, or $260/sf. Corporate Pointe is 97.6 percent occupied by approximately 35 local and regional tenants.
Built in 1986, Corporate Pointe’...
| Private Investor Pays $16.6 Mil for Tesla Service Center in Costa Mesa
The Tesla Service Center, a 39.1k sf center in the heart of Orange County, was acquired by a private investor for $16.65 mil ($425/sf). The service center, which sold at a cap rate of 5.2%, is located at 3020 Pullman St, adja...
| KBS Capital Advisors Spends $147 Mil on OC Office Tower
City Tower, a 20-story, 435.2k sf high-rise office building in the city of Orange, was acquired by KBS Capital Advisors in a $147.25 mil ($338/sf) transaction. The property, located at 333 City Boulevard West, adjacent to the...
| Fullerton Industrial Building Purchased by Owner/User for $12.5 Mil
A 68k sf, free-standing, single-tenant industrial building in Fullerton sold for $12.55 mil ($184/sf). The property was sold by Guthrie Development, who acquired the functionally-obsolete manufacturing facility in December 20...
| Buena Park Multifamily Sale Comes in at $417k/Unit
Cameron Properties Inc, out of Covina, paid $9.18 mil for Parkview Apartment Homes, a 22-unit ($417k/unit) multifamily property in Buena Park. Built in 2014, the Parkview Apartment Homes complex is located on 1.1 acres of la...
| Ground-Leased Raising Cane’s Restaurant Sells for $5.5 Mil
A Redondo Beach-based private investor paid $5.48 mil for a ground-leased Raising Cane’s property in Laguna Hills. According to Costar, the transaction is the first sale of a single-tenant Raising Cane’s in California.
| OC Industrial Asset Changes Hands in $4.5 Mil Deal
A private investor paid $4.45 mil for Coronado Plaza in the city of Orange. The property consists of two freestanding industrial buildings that total 39.4k sf of space and are located at 1085-1095 N. Main St, east of the 57 F...
| TruAmerica Multfamily Acquires 264-Unit Value-Add Asset in Huntington Beach
TruAmerica Multifamily has acquired Pacific Shores, a 264-unit apartment community in Huntington Beach, for $90.5 mil, or $343k/unit. The property, located at 7701 Warner Ave, west of the 405 Fwy, was sold by affiliates of UD...
| OC Residential Property Picked Up by 1031 Exchange Investor in $8 Mil Deal
A 1031 exchange investor paid $7.95 mil for Athens Circle Apartments, a residential property in Buena Park that consists of 41 apartment units and two single-family homes.
The apartment complex, located at 7800-7900 Athens C...
| Lincoln Property Company Redeveloping Los Alamitos Biz Property
Lincoln Property Company has begun construction on an overhaul of Katella Office Campus, a 150k sf office property on 9.6 acres next to Los Alamitos City Hall. Lincoln’s renovations will bring new life to two buildings constr...