If you’ve been following commercial real estate activity lately in Orange County, you’ve witnessed a great mixture of new builds, sales, and revitalization projects that are bringing plenty of vitality and glamour to businesses and their consumers.
The AllWest Properties team has most recently discussed trends in Costa Mesa. But there are plenty of exciting projects in Irvine, Laguna Beach, Huntington Beach, Tustin, and other cities around OC. We’d like to spend a little time taking a look at some of the commercial real estate happenings and there's plenty to be excited about in Newport Beach real estate.
With 2020 upon us, it’s a great time to look at commercial real estate options for your business or for investments.
The biggest news should unfold in 2020. The proposed Bayside Family Resort - a three-story, 200,000 square foot hotel would overlook the Newport Dunes lagoon. The hotel will include a restaurant, coffee shop, swimming pool, spa, tennis courts, fitness room, and a picnic area.
Guests would enter the property from Bayside Drive off Pacific Coast Highway.
The city of Newport Beach is preparing an environmental impact report study and public review and could come to a vote by the middle of the year.
An existing hotel fetched quite a price in 2019. The Newport Beach Bayview Marriott sold for $78 million. Clearview Hotel Capital LLC purchased the property from Host Hotels & Resorts.
On the apartment side - Waterford Property Company rang in 2019 with the purchase of the $30 million purchase of the Dover Heights Apartment Homes. The sale of the 66 units netted a per-unit price of $463,000.
We Work, despite dealing with some press adversity, opened up shop for a new members-only project in Bayview Towers. This space spans 50,000 square feet and can accommodate 800 We Work members.
2020 is sure to follow with more exciting sales, leases, and builds. How can we help your team with a commercial real estate transaction?
All West Properties offers a full range of real estate services including sales, leasing, buyer and tenant representation, seller and landlord representation, site selection and consulting services on office, retail, industrial, multi-family properties and triple net leased investments in Orange, San Diego, Los Angeles, Riverside, and San Bernardino Counties.
With over twenty-five years in the real estate industry, we bring exceptional care and integrity to the real estate industry. At Allwest Properties and Allwest Commercial, we are committed to representing all of our clients above and beyond their expectations. We provide friendly and professional real estate service to ensure the proper representation. If you're interested in Newport Beach real estate, you can reach out to our team here.