LOS ANGELES-Buoyed by this city's plans to create a sports and entertainment district Downtown, Palm Restaurant has leased 13,500 sf in the Toy Center Building and plans to open a new restaurant there by January 2002.
SANTA ANA, CA-Although financial terms of the deal were not disclosed, projected revenue for the enlarged surveying firm is expected to exceed $13 million over the next year.
NEWPORT BEACH, CA-The locally based developer says it will expand the 110,200-sf business park to encompass 750,000 sf of office, retail and flex space. The completed 46-acre project has a projected value of more than $100 million.
LOS ANGELES-The center, which encompasses 157,049 sf, was 90% occupied at the time of sale. Sales activity in the county's retail market has cooled somewhat in recent months.
ALISO VIEJO, CA-The 600-megawatt plant will be connected to the US electric grid, providing power for energy-starved California. Known as Termoelectrica de Mexicali, the $350 million plant will rise in Mexicali, Baja California.
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.