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Los Angeles Times
30-07-2025
- Business
- Los Angeles Times
Green Street Acquires College House, Expanding Property-Level Coverage into U.S. Student Housing Sector
Newport Beach-based Green Street, a provider of commercial real estate intelligence and analytics in the U.S., Canada, Europe and Australia, has announced the acquisition of College House, a leading provider of property-level data and insights for the U.S. student housing sector. Founded in 2019, College House has built a strong reputation in a fragmented market by offering high-quality, timely and deeply granular data. The acquisition marks a significant milestone in Green Street's global growth strategy and its continued investment in delivering best-in-class, property-level data across real assets. College House enhances Green Street's data platform and deepens its U.S. presence by bringing unrivaled coverage of the fast-growing student housing market. 'Property-level data is foundational to Green Street's strategy,' said Jeff Stuek, CEO of Green Street. 'With the addition of College House, we've extended our leadership into student housing and enhanced our ability to deliver granular insights to our clients. Their best-in-class product is a strong fit for Green Street, and we are proud to join forces with their exceptional team. This acquisition aligns with our global growth strategy and accelerates our vision to provide the most comprehensive commercial real estate intelligence platform in the world.' In the near term, College House expands Green Street's U.S. sector coverage with one of the most reputable sources of student housing data. Over time, it will serve as a strong foundation for the development of new sector-specific analytics, modeling and benchmarks within Green Street's offering. 'Joining Green Street marks an exciting new chapter for College House,' said Charlie Matthews, founder of College House. 'Our focus has always been on delivering data transparency and depth to the student housing space. With Green Street's scale, resources and expertise, we're excited to take our mission to the next level and bring even more powerful analytics and insights to the broader market.' Green Street was advised by Kirkland & Ellis, LLP. College House was advised by Greenberg Taurig, LLP on the acquisition. Information sourced from Green Street. To learn more, contact media@
Los Angeles Times
19-06-2025
- Business
- Los Angeles Times
Cushman & Wakefield Arranges Record-Setting Sale of Balboa Island Mixed-Use/Retail Property
Property sold and acquired by Newport Beach-based investors Cushman & Wakefield has announced the firm has brokered the record-breaking sale of a freestanding 1,300-square-foot mixed-use/retail building situated within Balboa Island's iconic shopping district in Newport Beach. Located at 323 Marine Avenue, the property is currently leased to Blue Canoe and sold for approximately $2.2 million or $1,692 per square foot. The property was acquired by a Newport Beach-based investor. The seller was a Newport Beach family office that previously owned the property for over 30 years. Joseph Lising, managing director, and Nathan Demosthenes, director, with Cushman & Wakefield's Capital Markets & Retail Services represented the seller in the transaction. According to the team's tracking, this was the highest price per square foot ($1,692) that a retail property has been sold for on Balboa Island on record. Lising said, 'This is a special property in the heart of Balboa Island, a true one-of-a-kind experience and one of Southern California's most coveted coastal destinations. This highly visible location offers an exceptional storefront presence in a high-foot-traffic location, surrounded by boutique shops, upscale dining and a steady flow of residents and year-round visitors. The record price/sf achieved speaks to the strength and desirability of this local coastal location plus the asset's overall nature. The property also benefits from the area's limited retail supply and consistently high demand, which contributed to it being a sought-after asset.' 'Interestingly and uniquely, 323 Marine was originally built in 1930 and originally served as a joint fire and police station location for Newport Beach. The property also sits across from two popular real-life banana stands, Dad's Donut & Bakery Shop and Sugar 'n Spice, shops made famous by the hit series, Arrested Development, after inspiring the show's two make-believe banana stands,' noted Lising. 323 Marine is also near renowned developments and attractions including the thriving Balboa Village, featuring the Balboa Fun Zone (which Lising also brokered the sale of in 2021), Lido Marina Village, Lido House, Newport Beach and Balboa Pier. Together, these destinations attract many millions of visitors annually with world-class beaches, sailing, sport fishing, whale watching and The Catalina Flyer. The Balboa Island Ferry connects the community and the property, providing a unique service that runs as a main appeal to tourists from around the globe. Information sourced from Cushman & Wakefield. Learn more by contacting
Los Angeles Times
12-06-2025
- Business
- Los Angeles Times
Commission's denial of home ownership project reveals cracks in Costa Mesa's zoning
In Costa Mesa, where 60% of the populace are renters and home prices make purchases prohibitive, city leaders have repeatedly expressed a desire to see more home ownership projects. But at what cost? That issue came to a head this week as the city's planning commission considered a proposal for Victoria Place, a 40-unit condominium complex at 220 Victoria St., a 1.77-acre commercial lot situated just west of Newport Boulevard. A hearing Monday followed an August 2024 screening by the City Council, during which officials pressed for more common areas, open space and better landscaping but had no qualms about the project's density or location. Put forth by Newport Beach-based WMC, LLC., the proposal features 18 duplexes and four detached residences, each comprising roughly 2,700 square feet in three stories with a ground-floor workspace, two-car garage, balcony and rooftop deck at a maximum height of 39 feet, 6 inches. The property lies close enough to Newport Boulevard to qualify for rezoning under Measure K, a 2022 voter-backed initiative that makes allowances for high-density residences near certain commercial and industrial corridors. Because the requisite rezoning has not been completed, the developers of Victoria Place, with help from city planners, have had to get creative. The project was pitched to commissioners for inclusion in a residential incentive overlay district created in 2016 to allow for the redevelopment of 14 identified commercial properties along Newport and Harbor boulevards for high-density residential uses. None of the property owners took advantage of the designation and, two years later, city leaders reduced eligibility to just four sites. Victoria Place seeks designation as a fifth parcel and, if built, would be the first site developed under the overlay's more permissive building standards. However, applicants came to Monday's hearing asking for even more concessions than the overlay allows, namely a reduction in side and rear setbacks, garages and on-site parking stalls narrower by 6 inches, less off-street parking and a reduction in required common open space. 'We feel that Costa Mesa's need for this type of housing is pretty clear. And [this] offers a thoughtful and well-designed response to that need,' Tony Weeda, managing partner of WMC, LLC. told commissioners. He explained architects incorporated a barbecue and play area into the site plans, along with a flexible-use space that can be used for events and as a fire lane. The gated complex would allow children to play safely on the property. Architect Richard Finkel said the city encouraged the applicants to fit as much housing as the overlay allowed. Commissioners, however, were not convinced the multiplicity of concessions were appropriate for the space and expressed concerns about the traffic vehicles and pedestrians would face so close to Newport Boulevard. They further lamented the city's delay in rezoning Measure K properties. 'We still don't have a cohesive plan for what we expect from our Measure K sites,' said Commissioner David Martinez. 'Now, we get stuck in this weird situation where we're applying something for the very first time and trying to figure out what any of it means — it just sucks.' Commissioner Rob Dickson said it would be unfair to hold an applicant hostage because the city couldn't figure out how to zone a project, and pointed out the council already ostensibly approved the concept last August. 'If this was the first impression of the project before us, I would be 100% absolutely not; it's just too outside the scope,' he said. 'However, this has been going on for a while, and it seems to be something the council asked for.' Commissioners opposed recommending the project in a 5-2 vote, with Dickson and Commissioner Angely Andrade Vallarta opposed. It will move on to the City Council for its consideration.
Los Angeles Times
05-06-2025
- Sport
- Los Angeles Times
Newport Beach's Boras, Gilchrist among honorees at inaugural OC Sports Awards
ANAHEIM — As high profile as he is, Newport Beach-based sports agent Scott Boras is often behind the scenes when he negotiates deals for his baseball player clients. Boras, sitting in the front row at Dodger Stadium, ended up on television during Sunday night's Dodgers game against the visiting New York Yankees after snagging a ninth-inning foul ball. 'I told ESPN, has your programming gotten to the level where you're going to interview some guy catching a foul ball?' Boras joked in an interview Tuesday night. 'You know, baseball has given me everything I have. It's frankly a very small community, when you think about it.' Two nights later, Boras was again in the spotlight about 30 miles south on the 5 Freeway. He was at Angel Stadium for the inaugural OC Sports Awards, where he received the Lifetime Achievement award. Boras, 72, has negotiated nearly $4 billion in contracts for his clients over the years and doesn't appear to be slowing down. Just last year, client Juan Soto signed a $765-million contract with the New York Mets, the largest in sports history. Longtime Boras client and Hall of Fame pitcher Greg Maddux was on hand Tuesday to present Boras with his award at the event hosted by the Orange County Sports Commission. Boras seemed to appreciate Maddux being there, noting his extensive durability — 355 wins during a 23-year Major League Baseball career, including 17 straight seasons with at least 15 wins. He's also proud of his namesake Boras Baseball Classic, which has had more than 500 participants hear their names called in the Major League Baseball draft, including four No. 1 overall picks. '[Maddux] taught me how to manage greatness,' Boras said during his acceptance speech. 'Managing greatness is so difficult, because the athlete is invincible, and yet you have to give them advice and counsel to protect them. You have to have the courage to approach greatness and let them understand the word, 'No.'' Newport Beach's Kaleigh Gilchrist was another local honoree at the OC Sports Awards. The former Newport Harbor and USC women's water polo star, a three-time Olympian and two-time gold medalist, received the Evolution Award. Gilchrist, also a standout surfer, retired from water polo and married Tom Gehret last August, following the completion of the Paris Olympics, where Team USA placed fourth. Gehret also attended Tuesday's event. Gilchrist, 33, said she is trying to figure out what's next. She does have an opportunity to be the director of surf operations at the Snug Harbor Surf Park, which has been proposed at the Newport Beach Golf Course. 'We still have to get [the facility] passed by council, but hopefully, if all things go as planned, we'll be open by spring of 2028,' she said. 'It's obviously a dream job. Wave pools are popping up everywhere, and I think they're going to be the next best thing of surfing. To be involved from day one to when it's open would be really special.' Former Mater Dei High, USC and NFL quarterback Matt Leinart served as the night's host, with the ceremony starting on time despite lightning and thunder in the area that disrupted a planned red carpet. The OC Sports Awards were co-founded by Orange County Sports Commission executive director Anthony Brenneman and Revolver Sports Public Relations founder and chief executive Amanda Samaan. Brenneman said the sports commission separated from a larger tourism bureau into its own nonprofit last year. Other honorees included the Dodgers' Freddie Freeman, a Villa Park native, as the Male Pro Athlete of the Year. Professional surfer Caroline Marks, a San Clemente resident, was named Female Pro Athlete of the Year. Legendary surfer Kelly Slater was the ICON Honoree, late Angels founding owner Gene Autry was the Legacy Honoree and the Jessie Rees Foundation was honored as Philanthropist of the Year. High school and college athletes also earned awards for their excellence. 'We wanted to give an opportunity to honor everyone at every level,' Samaan said. 'We also wanted to honor those have come before us to even be here, like Gene Autry. To be able to do it in his house that he built was a full circle moment that we were really honored to be able to do our first year.' Freeman was not in attendance, as the Dodgers hosted the Mets on Tuesday night. He had a short video message for attendees and a memorable game on the field, hitting a walk-off double in the Dodgers' 6-5 win.
Los Angeles Times
05-06-2025
- Business
- Los Angeles Times
CBRE Arranges $25.7-Million Sale of Westport Plaza & Square in Costa Mesa
CBRE announced the sale of Westport Plaza & Square, a 39,334-square-foot shopping center along East 17th Street in Costa Mesa, California, to Asana Partners for $25.7 million. CBRE's National Retail Partners-West (NPR-West) team, led by Jimmy Slusher along with Megan Lanni and Shaya Northrup, represented both the seller, Newport Beach-based Space Investment Partners, and the buyer, Asana Partners, in the transaction. Westport Plaza & Square is located at 369 East 17th Street and 1685 Tustin Avenue in Costa Mesa. The property is 97% leased to a mix of popular local tenants, including neighborhood staples Plums Café & Catering, Fleur De Lys, Crumbl Cookies, Common Thread, House of Yogurt, Massimos Pizza, Laser Away and others. 'Westport Plaza & Square enjoys one of the premier retail locations in Orange County. Surrounded by a vibrant mix of national and specialty grocers, upscale dining, stylish boutiques and affluent demographics, the property location serves as its anchor and provides a competitive edge,' said Lanni. Built in 1975 and renovated in 2002 and 2018, the center encompasses 13.73 acres of leased land and benefits from over 535 feet of linear frontage along East 17th Street. Westport Plaza & Square is subject to a long-term ground lease through 2079, with a total remaining term, inclusive of options, of just over 54 years. According to Slusher, 'The sale of Westport Plaza & Square marks a milestone for Costa Mesa's East 17th Street, with the buyer, Asana Partners, becoming the first institutional investor to commit capital along this retail corridor. This acquisition reflects the growing confidence in the area's long-term value and underscores the strategic positioning of the property in the heart of this retail hub.' 'With its compelling neighborhood demographics, the Westport Plaza & Square acquisition aligns with our strategy of targeting well-located, retail assets where we see an opportunity to continue to elevate the shopping and dining experience for the community,' said Bri Baffer, director of investments for Asana Partners. Slusher continued, 'The strong competition to acquire Westport Plaza & Square – from a distinguished pool of well-capitalized investors, including institutional capital – demonstrates investors' preference to own top-tier assets with seasoned, high-performing tenancy, even without a traditional anchor.' Information was sourced from CBRE. Learn more by contacting
