Digital Map Products is moving its headquarters in late fall to the Broadcom campus at University Research Park next to UC Irvine.
The company, a provider of cloud-based location technology and data solutions, will occupy an entire 22,000-square-foot floor of one of the buildings. Digital Map Products’ new neighbor will be Toshiba America’s electronics components, information systems and logistics divisions. Digital Map Products currently has space on Von Karman Avenue.
Broadcom plans to shift to its newer campus in Irvine next year.
University Research Park, or URP, is currently 99 leased and has been consistently full for the past decade, according to its landlord, the Irvine Company. The campus on a 185-acre park will see a major reinvestment in the months ahead. The campus currently is home to more than 75 companies and 8,000 employees.
URP also houses Irvine Co.’s tech incubator, The Vine, where startups have generated more than $24 million in funding, and UCI Applied Innovation.
Morgan Skenderian Investment Real Estate Group has brokered the sale of a 25-unit apartment complex at 1600-1610 Mabury St. in Santa Ana for $9.4 million. Paul Espinosa of the firm’s Newport Beach office represented the buyer, O.C. Apartments LLC, in this transaction, and Jay Skenderian and Rick Applebaum of the firm’s Newport Beach office represented the Seller, Ohana Investors 3 LLC.
Powerstone Property Management in Irvine has been awarded its largest active adult association to date, the 1927-unit, 55-and-older community, Casta del Sol in Mission Viejo. There are 18 staff members with the on-site management team led by General Manager Josh Hodosh.
PLC in Newport Beach and Colorado-based Milender White have broken ground on The Murphy, a luxury apartment community in Irvine. The 3-acre development includes four-stories and 170 units with a mix of one- and two-bedroom flats, townhomes and mezzanine units. The complex is at the corner of Alton Parkway and Murphy Avenue in the Irvine Business Complex. Amenities include multiple club facilities, a pool and fitness center, a covered outdoor lounge, children’s play area, outdoor lounge and barbecue areas, dog run, and roof-top deck. The community’s concrete 144,200-square-foot parking structure with five-tiers of 378 covered and roof-top parking spaces. Construction is scheduled for completion in spring 2019.
Stan Johnson Company, a net lease brokerage firm, has opened a new office in Newport Beach. The firm said senior director Brett Butler would relocate from Houston to oversee the office with regional managing director Myles Helm. Tyler Wollmershauser also joins the team as associate. Butler started with Stan Johnson Company in 2009 in Houston and has developed into one of the firm’s top dealmakers. Before joining Stan Johnson Company, he served as a broker for Marcus & Millichap in Dallas. Stan Johnson Company focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. The company says it has completed more than $25 billion in transactions nationwide.
JLL, a real estate investment management firm in Irvine, has acquired the Orange County affiliate of Integra Realty Resources, a network of independent U.S. commercial real estate valuation, counseling and advisory firms. Seven professionals will join JLL, expanding the firm’s Valuation & Advisory Services in the U.S. to the West Coast. JLL previously made acquisitions of the Houston, Dallas and Chicago affiliates of IRR last year hired 15 professionals in Florida. Steve Calandra will lead the Valuation & Advisory Services platform in Southern California.
People in real estate
Jaimeson Hearne has been promoted from associate to principal at the Orange office of Lee & Associates. At age 26, Hearne is one of the youngest to make principal in the office’s 35-year history. Hearne started his commercial real estate career four years ago as an office property specialist and has completed more than 75 transactions for nearly $50 million in total consideration. He is an Orange County native and graduate of the UC Irvine where he played NCAA Division I soccer. Hearne is a founding member of the Office Advisory Group of Lee & Associates.
The real estate briefs are compiled by contributing writer Karen Levin and edited by Business Editor Samantha Gowen. Submit items to firstname.lastname@example.org. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.