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• Huntington Beach Retail Center Sells for $29 Mil
6/21/23
In a recent OC retail trade, Adams Marketplace, a 65.1k sf, top-performing, grocery-anchored center located within coastal Orange County in Huntington Beach, traded for $29 mil ($445/sf).
Built in 1974 and renovated in 2022...
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• Orange County Office CRE Market Update – 2nd Qtr. 2023
6/20/23
MARKET HIGHLIGHTS
• The direct market vacancy rate in Orange County is now 12.6%.
• The average asking price on a full-service basis was $2.68/SF.
• During 2Q2023, 270k sf will still be under construction.
Market Drivers
...
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• Private Investor Picks Up 30-Unit Res Property in Westminster
6/20/23
A private investor paid $10 mil for a 30-unit ($333k/unit) multifamily community in Westminster. The property, Courtyard Apartments at La Pat Place, is located at 13872 La Pat Place, north of Westminster Blvd on the east side...
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• OC Shopping Center Traded in $36.5 Mil Deal
6/06/23
A Newport Beach private investor purchased Bristol Place, a 61.5k sf, multi-tenant shopping center shadow-anchored by Target in Orange County’s South Coast Metro, in a $36.5 mil ($593/sf) transaction. The property was sold by...
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• Irvine Office Building Gets New Owner
6/01/23
A 71k sf, Class A office building in Irvine was acquired by an owner-user that intends to occupy shortly after renovations. The property, located at 17900 Von Karman Ave, was sold by Wilshire Capital Partners.
Situated in a ...
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• Private Investor Spends $15 Mil on Two SoCal Chick-fil-A Ground Lease Properties
5/17/23
A SoCal-based private investor purchased two Chick-fil-A ground lease assets for $15 mil. The assets are located in the Southern California cities of Palm Desert and Mission Viejo. The blended closing cap rate was 3.83%, mark...
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• Recently Renovated OC Office Campus to Be Razed for New Industrial Development
5/16/23
Kearny Real Estate Company and Dune Real Estate Partners plan to redevelop a recently renovated office campus in Santa Ana into a 163k sf state-of-the-art industrial facility. With construction projected to begin in the first...
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• Hyundai Dealership Group Leases Three-Acre Site in Costa Mesa
5/15/23
A group of local Hyundai dealerships inked a five-year lease agreement for a 3.11-acre industrial site in Costa Mesa. The property, located at 3539 Howard Way, includes a 12.6k sf foot truck and automotive maintenance facilit...
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• La Habra Strip Center Gets New Owner
5/09/23
The Row on Harbor, a 23.3k sf, newly renovated retail strip center in La Habra, was acquired by a 1031, all-cash buyer. The property was sold by DMI Real Estate Group.
Located at 1450-1478 S. Harbor Blvd, The Row on Harbor c...
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• Irvine Res Property Lands $31.6 Mil Refi
5/05/23
Advanced Real Estate completed a $31.6 mil internal refinance of the Axis 2300 Apartments in Irvine. The 115-unit multifamily property is located at 2300 Dupont Dr, southwest of the 405 Fwy off Von Karman Ave.
Alex Kane, Joe...
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• La Habra Strip Center Purchased by All-Cash Exchange Investor
5/04/23
The Row on Harbor, a 23.3k sf, newly renovated retail strip center located within Orange County in La Habra, was acquired by a 1031, all-cash buyer. The price was not disclosed.
Renovated in 2020, The Row on Harbor is 100%-l...
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• Chapman University Team Wins NAIOP SoCal Orange County Real Estate Challenge
5/02/23
NAIOP SoCal Orange County just held its second annual Real Estate Challenge featuring graduate student teams from the Chapman University Argyros School of Business & Economics and the University of California, Irvine Paul Mer...
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• Sunland Nutrition Purchases 41k sf Aliso Viejo Industrial Building in Owner/User Deal
5/01/23
Sunland Nutrition acquired a 40.8k sf industrial building in Aliso Viejo for $14.07 mil ($345/sf). Sunland will use the building, located at 81-91 Columbia, for its headquarters and warehouse.
81-91 Columbia is located in an...
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• Watermarke Properties Spends $22.5 Mil on OC Office Building
4/28/23
Watermarke Properties has purchased City Centre I, a 6.8-acre, multifamily redevelopment project in the City of Orange, for $22.5 mil. The asset is located at 625 The City Drive South, west of I-5 and adjacent to the south si...
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• NewMark Merrill Companies’ San Diego Office Celebrates 20 Years
4/26/23
Next month, Calabasas-based NewMark Merrill Companies celebrates the firm’s 20-year anniversary of when the company first opened its San Diego Division office to oversee the San Diego, Riverside and Orange County regions. In ...
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• Irvine Flex/Office Building Sells for $11.8 Mil
4/21/23
A two-story, 41.6k sf flex-office building in Irvine sold for $11.87 mil ($285/sf). The building, located at 8 Hughes, was sold by Stivers Investment Company.
Built in 2000, the building is situated on 2.39 acres of land wit...
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• Champion Real Estate Company Secures $40 Mil Refi on OC Student Housing Property
4/14/23
Champion Real Estate Company has refinanced University Village Fullerton, a 121 unit/427-bed student housing property in Fullerton, with a new loan for $40.5 mil. The property is located at 2000 Oxford Ave, just north of Yorb...
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• Commercial Real Estate Financing Briefs
4/14/23
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL -- Tom Turnage and Joe Galosic, Jr with Bellwether Enterprise originated a $58 mil loan to finance a luxury apartment community in Santa Barbara County. The property is a best-in-clas...
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• George Urban Advisors, Five Horizons Partners and DRA Advisors Pick Up 851k sf SoCal Industrial Portfolio
4/12/23
George Urban Advisors, in partnership with Five Horizons Partners and DRA Advisors, has acquired a portfolio of seven industrial properties in Orange County and Los Angeles County. The properties encompass 851.1k sf of space ...
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• Draftsmen & Craftsmen
4/12/23
Hendy has wrapped up work on a total interior renovation of the Pacific Life corporate headquarters building in Newport Beach. The 465k sf facility is located at 700 Newport Dr.
Dubbed by employees as, ‘Workplace Transformat...
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