DANA POINT, CA-The $240-million, 400-room resort is slated to open on July 30. It will feature a 30,000-sf spa and an 18-hole oceanfront golf course. Spas now outpace food and beverage revenues as the single largest grossing component of resort hotels.
NEWPORT BEACH, CA-Morgan Skenderian Investment Real Estate Group's Newport Beach office has brokered the sale of the two multifamily complexes in Whittier containing a combined 30 units. The sellers were Oregon-based investors.
MISSION VIEJO, CA-The lifestyle and entertainment center has sold for $28 million, despite being valued at nearly twice that price. Put on the auction block in Autumn 2000, the complex was 70% leased at the time of sale.
ANAHEIM, CA-Lagen Walter Family Trust paid approximately $1 million for a 10,080-sf facility. The county has seen an increased number of office transactions in recent weeks, but some local real estate experts still predict troubling times ahead for the office market.
COSTA MESA, CA-The tenant, Pacific Communications, will expand its space by 6,500 sf at the 241,000-sf building, for a total of 26,700 sf. Its neighbors in the building will be Sterling Alliance Group, Summit Motor Management, CompuNet and Bock Communications.
LOS ANGELES-The developer has paid close to $30 million for a 258,000-sf industrial and office facility in El Monte. The acquisition is part of Crown's plans to expand its portfolio in the Los Angeles Basin area.
COSTA MESA-Wohl Investment Co. plans to reposition a 60,000-sf retail center formerly known as Hillgren Square into a high-end destination center to be named the 17th Street Promenade.
ANAHEIM-The 38,900-sf building at 1268 Lakeview Ave was sold for $2.8 million. It is the latest in a string of industrial transactions to occur in Orange County.