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Article: Properties in Limbo
- Article from:
- Orange County Business Journal
- Article date:
- November 17, 2008
- Author:
CopyrightCopyright CBJ, L. P. Nov 17-Nov 23, 2008. Provided by ProQuest LLC. (Hide copyright information)
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With many local experts bracing for a commercial real estate tumble, the fates of some big deals - both under-construction projects and recent sales - are up in the air. Here's a sampling of some of the area's most-watched developments.
Fountain Valley City Center and Fountain Valley Plaza
Mexico's Cabi Developers LLC, part of GICSA, bought the two Fountain Valley office buildings, which total about 410,000 square feet, in mid-2007 from Los Angelesbased Arden Realty Inc.
They were the only two OC properties changing hands in a $ 1.6 billion, 4.6 million-square-foot portfolio sale, which included 33 offices largely in Los Angeles.
That deal, made at the top of the market, appears to be in ...