Costa Mesa, Business News
BUSINESS NEWS
Bascom Group Sells Huntington Breeze for $35 Million
News Summary The Bascom Group has sold the Huntington Breeze senior living complex in Huntington Beach for $35 million. This highlights the growing demand for senior housing in the area,...
CapRock Partners Acquires Houston Distribution Center
News Summary CapRock Partners has officially entered the Houston industrial real estate market by acquiring the Kennedy Greens Distribution Center, a strategically located facility spanning 524,199 square feet. Fully leased...
Culinary Renaissance Begins in Irvine with New Dining Options
News Summary Irvine, California, is welcoming new dining experiences that celebrate diverse tastes and health-conscious choices. Kiyoraka offers modern kakigori and plans to add a full menu, while Bopomofo Cafe...
Kei Coffee House Opens in Westminster
News Summary Westminster has welcomed Kei Coffee House, a new coffee destination from Kei Concepts, enhancing the local dining scene. Located on Brookhurst Street, the coffee house features a Scandinavian-inspired...
Irvine Planning Commission Approves Office-to-Residential Conversion
News Summary The Irvine Planning Commission has greenlit a proposal to convert part of an office building into 66 residential units, marking a shift towards mixed-use spaces in the city....
Economic Decline Impacts Tenant Improvement Contractors in Orange County
News Summary Economic uncertainty has caused a 5.6% decline in work volume for tenant improvement contractors in Orange County, with completed projects totaling $1.3 billion in 2024, down from $1.4...
Boys & Girls Clubs of Central OC Expands Reach Through Merger
News Summary The Boys & Girls Clubs of Central Orange Coast has merged with the Boys & Girls Clubs of Greater Anaheim-Cypress, expanding its services to over 12,000 children and...
J.P. Morgan Private Bank Welcomes Blake Clayton as Vice President
News Summary J.P. Morgan Private Bank has appointed Blake Clayton as the new Vice President and Banker at its Orange County branch. With extensive experience in financial transactions and corporate...
City of Irvine Establishes Office of Health & Wellness for Affordable Housing
News Summary The City of Irvine has launched the Office of Health & Wellness to boost affordable housing initiatives. This new office aims to expand access to social services while...
Finance
J.P. Morgan Private Bank Welcomes Blake Clayton as Vice President
News Summary J.P. Morgan Private Bank has appointed Blake Clayton as the new Vice President and Banker at its Orange County branch. With extensive experience in financial transactions and corporate...
Major Job Losses as Republic National Distributing Closes Locations
News Summary Republic National Distributing Co. is set to close multiple locations across California, resulting in the loss of over 1,750 jobs. The layoffs, which will take place in phases...
Surlamer Investments Acquires City Plaza Office Building
News Summary Surlamer Investments has purchased the City Plaza office building in Newport Beach for $18.5 million, signaling a notable downturn in office property values in Orange County. The 19-floor...
Pacific Premier Bancorp to Lay Off Employees Ahead of Merger
News Summary Pacific Premier Bancorp announced it will lay off 78 employees, nearly 6% of its workforce at the Irvine headquarters, as it prepares for a $2 billion merger with...
CTC Global Appoints Charles Girard as International Finance Director
News Summary CTC Global has appointed Charles Girard as the Director of Business Development, International Finance, to enhance its global market efforts for its ACCC® Conductor technology. Girard brings over...
Santa Ana Faces Declining Cannabis Tax Revenue
News Summary Santa Ana is experiencing a sharp decline in cannabis tax revenue, plummeting over 50% since its peak during the pandemic. Forecasts predict revenue will fall to under $10...
Chimera Investment Corporation Acquires HomeXpress Mortgage Corp
News Summary Chimera Investment Corporation has announced its acquisition of HomeXpress Mortgage Corp., a key player in non-QM and business-purpose residential mortgage loans. The move is expected to bolster Chimera’s...
Impact of Tariffs on Orange County Companies
News Summary Publicly traded companies in Orange County are facing significant challenges due to President Trump’s tariffs. Rivian Automotive Inc. has revised its EV delivery forecast downward despite a revenue...
MeridianLink Inc. Faces $4.7 Million Loss Amid Weather Challenges
News Summary MeridianLink Inc. reported a loss of $4.7 million in the first quarter, equivalent to a loss of 6 cents per share. This loss comes as California faces severe...
CONSTRUCTION
Economic Decline Impacts Tenant Improvement Contractors in Orange County
News Summary Economic uncertainty has caused a 5.6% decline in work volume for tenant improvement contractors in Orange County, with completed projects totaling $1.3 billion in 2024, down from $1.4...
Fountain Valley Recommends Two Major Housing Developments
News Summary The Fountain Valley Planning Commission has recommended two significant housing projects, Euclid + Heil and Magnolia, to address California’s housing needs. Euclid + Heil will provide 304 market-rate...
Terreno Realty Corp. Acquires Major Industrial Asset in Santa Ana
News Summary Terreno Realty Corp. has purchased a 134,000-square-foot industrial building in Santa Ana for $49.5 million. The property, fully occupied by The Home Depot, offers significant logistics capabilities. While...
Orange County Housing Market Sees Mixed Results
News Summary Recent data from Attom shows the Orange County housing market is experiencing mixed trends in pricing, with the overall median home price at $1.19 million. While home prices...
Sukut Construction Announces Key Leadership Appointments
News Summary Sukut Construction has appointed Lawrence Damore as vice president of alternative delivery and promoted Ryan Prokop to vice president of energy. These changes reflect the company’s commitment to...
CTC Global Appoints Charles Girard as International Finance Director
News Summary CTC Global has appointed Charles Girard as the Director of Business Development, International Finance, to enhance its global market efforts for its ACCC® Conductor technology. Girard brings over...
Orange County Sees Surge in Multifamily Property Transactions and Developments
News Summary Orange County is witnessing a significant increase in multifamily property transactions, with several small apartment buildings exchanging ownership and new developments on the rise. High-profile sales include the...
Costa Mesa to Review Hive Live Mixed-Use Development
News Summary Costa Mesa is set to review the Hive Live project, which proposes 1,050 housing units, including 105 affordable units, aimed at addressing the city’s housing crisis. The development...
Anduril Industries to Build Major Manufacturing Facility in Ohio
News Summary Anduril Industries, a defense technology firm, plans to establish a large manufacturing facility named ‘Arsenal 1’ in Pickaway County, Ohio, creating around 4,000 jobs. Set on a 500-acre...
Marketing
Costa Mesa Welcomes Serendipity Labs
News Summary Serendipity Labs, a provider of flexible office spaces, is opening its first Orange County location in Costa Mesa at the former WeWork site. With 39,000 square feet planned,...
Costa Mesa Business Owners Celebrate Major Sales Milestone
News Summary Cindie and Andre Nel of Minuteman Press in Costa Mesa have joined the President’s Club for exceeding $1 million in sales, marking a significant milestone as they commemorate...
Real Estate
Bascom Group Sells Huntington Breeze for $35 Million
News Summary The Bascom Group has sold the Huntington Breeze senior living complex in Huntington Beach for $35 million. This highlights the growing demand for senior housing in the area,...
CapRock Partners Acquires Houston Distribution Center
News Summary CapRock Partners has officially entered the Houston industrial real estate market by acquiring the Kennedy Greens Distribution Center, a strategically located facility spanning 524,199 square feet. Fully leased...
Irvine Planning Commission Approves Office-to-Residential Conversion
News Summary The Irvine Planning Commission has greenlit a proposal to convert part of an office building into 66 residential units, marking a shift towards mixed-use spaces in the city....
City of Irvine Establishes Office of Health & Wellness for Affordable Housing
News Summary The City of Irvine has launched the Office of Health & Wellness to boost affordable housing initiatives. This new office aims to expand access to social services while...
Huntington Beach Proposes Major Development with 800 Housing Units
News Summary Huntington Beach is set for a major transformation as the California Resources Corporation proposes to rezone a 92-acre site for 800 housing units and a hotel. The project...
Fountain Valley Recommends Two Major Housing Developments
News Summary The Fountain Valley Planning Commission has recommended two significant housing projects, Euclid + Heil and Magnolia, to address California’s housing needs. Euclid + Heil will provide 304 market-rate...
Terreno Realty Corp. Acquires Major Industrial Asset in Santa Ana
News Summary Terreno Realty Corp. has purchased a 134,000-square-foot industrial building in Santa Ana for $49.5 million. The property, fully occupied by The Home Depot, offers significant logistics capabilities. While...
River Oaks Management Acquires Terra Oceanside Apartment Complex
News Summary River Oaks Management Inc. has successfully acquired the Terra Oceanside apartment complex for $18.3 million. This notable transaction in North County San Diego translates to $295,161 per unit...
Rivian Expands Operations with New Facility in Irvine
News Summary Rivian Automotive has signed a lease for a new 95,000 square foot facility in Irvine, California, demonstrating its strong presence and ongoing commitment to growth in the region....
