The Heart of Irvine: OC’s 5th Largest Shopping Center Marks 30 Years
When the Irvine Spectrum Center opened 30 years ago, it wanted to be known as Orange County’s downtown in the heart of Irvine with restaurants and entertainment venues as anchors, not big-box stores. The mall debuted in 1995 as “The Entertainment Center at Irvine Spectrum” being home to one of Read More
Tustin Senior Apartments Sell for $83M
Coventry Court, a 240-unit mixed-income senior housing community in Tustin Ranch, has traded hands for $83 million, according to a July 16 announcement. Los Angeles-based Meta Housing Corp. sold the property, located at 16000 Cambridge St., to New York-based Jonathan Rose Cos. LLC, a national real estate firm focused on Read More
Stockbridge Snatches Industrial for $99.5M
IDI Logistics, an Atlanta-based developer of distribution, manufacturing and warehouse facilities, sold a 290,920-square-foot industrial building it owned in Buena Park to Stockbridge Capital Group LLC for $99.5 million, the biggest industrial deal of the second quarter. The property sold for $342 per square foot, according to a grant deed Read More
Anduril Industries Gets $310M Grant from Ohio
An economic development group in Ohio has provided Anduril Industries with a $310 million grant for its giant military weapons factory near Columbus, Ohio, adding to the $452 million promised tax breaks being provided by the Buckeye State. JobsOhio said July 9 that it is giving a 30-year grant to Read More
OC Insider: Office Hours
Expect to see less of Starbucks CEO Brian Niccol, arguably the country’s best-known remote worker, in the coming months. As part of a corporate turnaround plan, dubbed Back to Starbucks, the CEO of the Seattle-based coffee chain (Nasdaq: SBUX) last week unveiled a new workplace policy that requires corporate employees Read More
Police drug bust at Irvine, Santa Ana residences yields drugs, guns and cash
Detectives received information that two suspects were attempting to ship multiple packages of drugs to different parts of the United States and abroad, according to the Irvine Police Department (IPD). On July 16, the IPD Special Investigation Unit served a search warrant at homes on Terrapin in Irvine and Mainplace Read More
Fountain Valley Green Lights Shopoff Project
The Fountain Valley Planning Commission unanimously recommended plans for a proposed 18-acre housing development near Mile Square Regional Park. Euclid + Heil, proposed by Irvine-based Shopoff Realty Investments, would bring 304 market-rate apartments and 83 senior affordable units in a five-level building, plus 36 two-level for-sale triplexes and 183 three-level Read More
Tilly’s Finds Believer in New Investor
Shares of Tilly’s Inc. sunk to 57 cents each in May, the lowest price ever in the company’s 13 years on Wall Street. The retailer with about 232 stores that caters to teenagers appeared to be in a death spiral as shares had fallen more than 95% in the past Read More
131K-Sq.-Ft. Brea Warehouse Sells for $54M
A major manufacturer of herbal extracts is the new owner of a 130,925-square-foot warehouse in Brea. China-based Jiaherb Inc. paid $54 million, or $410 per square foot, for a recently built warehouse at 2929 E. Imperial Highway in Brea — about a mile from Beckman Coulter Diagnostics’ local headquarters. The Read More