| OC Industrial Market Remains Steady Despite Economic Headwinds
Here’s a quick second quarter 2020 ending overview of Orange County’s industrial market, provided to us by CBRE
| VCA Animal Hospital in Orange County Sells for $9.2 Mil
A SoCal-based private investor paid $9.182 mil for a single-tenant, 23.8k sf ($386/sf) property occupied by VCA Animal Hospital in the OC city of Fountain Valley. VCA recently extended its lease for an additional 10 years and...
| Anaheim Res Property Trades at $300k/Unit
Magnolia Court, a 21-unit multifamily property in Anaheim, was purchased by a private investor for $6.3 mil, or $300k per unit. Constructed in 1987, the property is located at 527-537 N. Magnolia, within three miles of three ...
| OC Medical Office Property Fetches Over $700/sf
A local investor paid $8.4 mil for an 11.5k sf ($730/sf) medical office building in Tustin. The infill property, located at 721 W. 1st St, was sold by CREST Properties LLC.
The building is completely leased by DaVita Health...
| Rexford Industrial Realty Completes Two SoCal Buys for $14.7 Mil
Rexford Industrial Realty Inc has boosted its industrial portfolio with the recent acquisitions of two SoCal assets in deals totaling $14.7 mil. The firm’s newest properties are located in Yorba Linda and San Diego. The acqu...
| Hurtt Family Health Clinic Leases 14k sf of Space in Tustin
Hurtt Family Health Clinic Inc agreed to a 10-year, $5.4 mil lease for 13.7k sf ($3.28/sf/mo) of space at Foothill Regional Medical Center in Tustin.
Located at 14642 Newport Ave, Foothill Regional Medical Center is a four-...
| Nathan Holthouser, James Lehigh, Tram Church, and Rebecca Canalez Launch Coastal Commercial
Former CBRE pros Nathan Holthouser, James Lehigh, Tram Church, and Rebecca Canalez have teamed up to start a new real estate services venture called Coastal Commercial Inc. The firm, based in Newport Beach, specializes in a w...
| Hines-Led Venture Secures $182 Mil on OC Office Campus
Intersect, a four-building, 452k sf office campus in Irvine, has been refinanced with a new $182 mil loan. The mid-rise, Class A property is owned by a joint venture between Hines and a leading global investment management fi...
| IRA Capital Pays $73.5 Mil for OC Corporate Campus
IRA Capital has purchased Element, a 160k sf, three-building corporate campus in Aliso Viejo, for $73.5 mil ($460/sf). IRA Capital acquired the campus through its joint venture with a Middle East-based capital partner.
| MediaTek USA Takes 10k sf in Irvine
MediaTek USA inked a five-year lease for 10.5k sf of office space in Irvine. MediaTek, the world’s fourth largest global fabless semiconductor company, powers more than 1.5 bil devices a year including smart TVs, phones and t...
| OC Private School Campus Trades for $22.75 Mil
Fairmont Private Schools, an Orange County-based private institution, acquired a private school campus in San Juan Capistrano in a $22.75 mil transaction. The property was sold by Saddleback Valley Christian.
Located at 2633...
| Electronic Commerce Inks Office Lease in Newport Beach
Electronic Commerce leased 10.3k sf of office space in Newport Beach. The firm, an Orange County-based merchant services fintech company, signed a deal at 4100 Newport Place, a Class A building owned by Olen.
Built in 1990,...
| IRA Capital Pays $676/sf for OC Medical Office Building
IRA Capital paid $38.4 mil for a 56.8k sf ($676/sf), medical office building in Santa Ana. Based in Irvine, IRA Capital is a real estate private equity firm.
Located at 2212 E. 4th St, just west of the 55 Fwy, the property i...
| Scenic Campus of St. Michael’s Abbey in South OC Has Been Put On the Market
The historic St. Michael’s Abbey, a 33-acre campus nestled in the foothills of South Orange County, is up for sale now that its long-time residents, the Norbertine Fathers of Orange, are almost ready to move to a new home. Th...
| Brookfield Property Group Picks Up 80k sf Multi-State Industrial Portfolio
Brookfield Property Group purchased a seven-property, 80k sf multi-state industrial portfolio for $24.765 mil ($309/sf). The single-tenant assets, located in prized infill locations, all in top U.S. metropolitan areas, were s...
| Anaheim Supermarket Property Acquired for $5.6 Mil
Orangethorpe Plaza, a 24.6k sf, neighborhood supermarket property in Anaheim, sold for $5.645 mil, or $230/sf. Built in 1976, Orangethorpe Plaza is anchored by Stater Bros supermarket and is located at 1741 N Kellogg Dr, in h...
| Ronald E. Birtcher Passes Away at the Age of 89
Real estate development icon Ronald E. Birtcher passed away on April 21 at the age of 89. Birtcher, born in the City of Orange, is well known for his accomplishments as an international commercial and industrial real estate d...
| Tustin Office Asset Gets New Owner
The Irvine Prospect Building, a 16.3k sf office building in Tustin, sold for $3.275 mil ($200/sf). Built in 1973, the two-story, multitenant building sits on a 30.5k sf parcel at 17772 Irvine Blvd.
The jewel-box building is...
| Costa Mesa Res Community Refinanced with New $75 Mil Loan
An E&S Ring affiliate has obtained a $75 mil permanent loan refi on Mediterranean Village, a 508-unit multifamily property in Costa Mesa. The garden-stye residential community is located at 2400 Harbor Blvd, adjacent to the C...
| Still the Happiest Place on Earth?