Real estate news: Siemens moving regional HQ to Costa Mesa from Cypress
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The energy tech company Siemens is relocating its regional headquarters to Costa Mesa from Cypress in early 2023, according to the South Coast Metro Alliance.
The company, which currently occupies a large campus at 6021 Katella Avenue at Valley View Street, signed a 53,746-square-foot lease for two floors at The MET office campus at 535 Anton Blvd.
German-based Siemens has made energy systems for 175 years, developing technologies in manufacturing, energy, healthcare and infrastructure.
Michael Coppin at McCarthy Cook & Co. represented The MET, while Casey Hilbun and Chris Houston at Newmark represented Siemens in the lease transaction.
Anaheim apartments sell for $5.7 million
A renovated, 16-unit garden-style apartment complex in Anaheim has sold for $5.67 million or $354,375 per unit, according to Cushman & Wakefield.
The brokerage represented both sides in the sale of the property at 2070 S. Mountainview Ave. It declined to identify either.
Cushman reps said the property got an extensive update during the pandemic.
Jewish center buys new home in Laguna Niguel
Chabad Jewish Center of Laguna Niguel has bought a new Chabad Center location for $5.1 million, according to Berkshire Hathaway HomeServices.
The Jewish center bought a one-story, 11,659-square-foot office building at 27500 La Paz Road from Moulton Niguel Water District, according to Ata Boroumand at the brokerage’s Laguna Niguel office.
“It was originally built for and occupied by the water district until about a year and a half ago, when they moved to their new building,” said Boroumand in a statement. “The building is in an ideal location with the perfect layout for Chabad, which is thrilled to be moving in soon.”
Newport Beach firm buys 17 acres in Ontario for $85 million
A limited partnership linked to Real Estate Development Associates in Newport Beach has bought a 17-acre parcel at South Ontario Logistics Center for $85 million.
The transaction closed July 5, according to Vizzda, a commercial real estate data provider. Rudy and Julie Haringa were listed on the property deed as the sellers.
The parcel in San Bernardino County is part of a larger plan for the logistic center and business park that will span some 222 acres adjacent to the Chino Airport.
The maximum building size on the 17-acre parcel is 419,114 square feet.
37 new homes under development
Newport Beach-based IHP Capital Partners and Comstock Homes have formed a joint venture to buy and develop 37 homes on 1.9 acres in Glassell Park.
The firms said development for the homes in Northeast Los Angeles is underway with construction planned for early 2023.
The three-story, attached homes will include rooftop decks. Floorplans will range in size from 1,650 square feet to 1,740 square feet and will include two to three bedrooms, 2.5 bathrooms and attached two-car garages. The community also will feature 20,000 square feet of open space and an outdoor area with barbeques and fire pits.
Home pricing will be set at a later date and a grand opening and home sales should begin in mid-2023, according to a statement.
“Glassell Park is a terrific opportunity for IHP to work with the skilled team at Comstock Homes in transforming an under-utilized property in a unique pocket of LA into a well-designed community of contemporary new homes,” said Jeff Enes, senior vice president at IHP Capital Partners. “The Glassell Park project will bring a fresh new living option for residents looking for convenient access to job centers, entertainment and the best of what LA has to offer.”
Sin City hotel developed by Shopff breaks ground
A $550 million hotel and casino under development by Irvine-based Shopoff Realty Investments has broken ground in Sin City.
Dream Las Vegas, a partnership with Contour in partnership with Dream Hotel Group, is part of a revitalization project at the south end of the Las Vegas Strip.
The 531-room hotel and casino were designed by architecture firm DLR Group with interior design by AvroKo, Rockwell Group and DLR Interiors. It also will have seven dining and nightlife venues, 12,000 square feet of meeting and event space and a 20,000-square-foot casino.
The hotel should be complete by late 2024, Shopoff said in a statement.
People in real estate
Cory Adams has been promoted to director of architecture at Ware Malcomb, a design firm based in Irvine. He will lead the Architecture and Advanced Manufacturing Studios for the Irvine and Inland Empire offices. Adams has more than 14 years of architectural design experience and more than 11 years of construction experience. He joined Ware Malcomb in 2019 and was promoted to studio manager of Architecture in 2021.
Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at [email protected]. Please allow at least a week for publication. All items are subject to editing for clarity and length.
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