August 11, 1989 |
Burke Commercial Real Estate, Orange, reported revenue of $350 million for its 1989 fiscal year. The real estate brokerage increased its number of transactions by 20% this year, the company said. Burke operates in Orange and Riverside counties. The firm handled the second-largest transaction in its 20-year history this year, the $19.7-million sale of State College Park business center in Anaheim. The property was bought by Burke clients Hutton Development Co. and Japanese investor Tobishima Co.
May 2, 1990 |
Pumped up by a slew of buyer incentive plans offered by builders, new-home sales in Riverside County rose during the first quarter to reverse the downward slide of the previous three quarters, a regional real estate research firm said Tuesday. During the first three-month period of 1990, 3,409 new homes were sold in the county, up 16.4% from 2,930 sales in the fourth quarter of 1989, the Meyers Group reported.
May 15, 1989 |
John L. Molinaro had never set foot inside a financial institution except as a customer until the day he and a partner bought Ramona Savings & Loan. The Santa Ana resident had no college degree, and his only business experience was as a carpet salesman. "I had no experience at all . . . in connection with the running and directing of a savings and loan association," Molinaro acknowledged in a court deposition years later. Nevertheless, Molinaro and real estate developer Donald P. Mangano won swift approval from regulatory agencies in April, 1984, for their $4-million purchase of Orange-based Ramona and its $55 million in assets.
January 5, 1990
When Union Pacific Corp. put its massive landholdings up for sale, Koll Co. wasn't the only local developer that went shopping. (In the largest deal in its history, Koll bought a half-billion dollars worth of land and buildings from the railroad recently.) SDC Development, a much smaller neighbor of Koll's in Newport Beach, paid Union Pacific $16 million for an industrial park called Mira Loma Industrial Center in Riverside County.
May 31, 1990 |
The Koll Co. and a Japanese partner have bought nearly 300 acres in Riverside County from Union Pacific Corp., and the Orange County developer said Wednesday it is negotiating to buy still more property from the railroad holding company. Koll and Ohbayashi America Corp., whose parent is one of the largest contractors in the world, paid $32 million for 297 acres in the unincorporated Mira Loma area at the northwestern tip of Riverside County.
August 3, 1989 |
Two Orange County investors have paid $2.87 million for the Riverside Auto Center in Riverside, according to Sperry Van Ness, a real estate brokerage firm. The investors are Mark Van Ness of Newport Beach and Dr. Ron Barlow of Irvine. Mark Van Ness is managing director of Sperry Van Ness, a Newport Beach-based partnership. The 10-year-old, multi-use center was sold by Tom Tucker and Bill Garwin, both of Newport Beach. The new owners do not plan to change the center's operation.