RANCHO SANTA MARGARITA, CA-The national retail developer sells its interest in the Plaza El Paseo retail complex to joint venture partner, K&G Equities. The complex, which is 85% pre-leased, is expected to be fully open by spring 2003.
SAN JUAN CAPISTRANO, CA-A $6.9-million loan is finalized for a 70,088-sf, five-building complex in San Juan Capistrano. Terms of the three-year non-recourse loan include an 85% LTV ratio. Heller Financial provides the financing.
ORANGE COUNTY, CA-According to new research, the number of construction permits issued in September dropped more than 50% from August's level of 264. October's results, when tabulated, could show an attitude change.
LAGUNA HILLS, CA-A limited liability company snatches up a Laguna Hills shopping center for $12.1 million in a 1031 exchange. Encompassing 61,706 sf, it was 98% occupied at sale time to K&M Royal Group LLC.
HUNTINGTON BEACH, CA-The company has already begun demolishing former Boeing manufacturing facilities at Huntington Beach. It plans to add the site to the McDonnell Centre Business Park to bring an additional 600,000 sf of commercial space to the 1.8 million-sf complex.
ANAHEIM, CA-The 143-suite hotel is located in the $4-billion Anaheim Resort Area, which includes entertainment, retail and hospitality components. Built on a three-acre site, the hotel shares some common areas with a 264-room Holiday Inn.
ORANGE COUNTY, CA-The board of supervisors approves El Toro's environmental impact report on a 3-2 vote. The decision is a key step for the proposed El Toro airport-conversion project, allowing the feds to turn over the land to the county.
IRVINE, CA-The Laguna Woods facility will encompass 41,280 sf of medical office space upon completion. The project commences as vacancy rates continue to rise. According to recent research, overall vacancy for non-CBD office space stood at 20.1%.
SANTA ANA, CA-Triple Net Properties LLC acquires two single-tenant buildings from Kilroy Realty LP. The deal, valued at $10.5 million, is for industrial buildings in Temecula and Las Vegas.
COSTA MESA, CA-The locally based REIT will build a 7,000-sf complex next to Hemet Valley Mall. Site is the former home of a Glendale Federal Bank branch.