Real Estate Blog

The Sobrato Organization, one of Silicon Valley's most prolific developers, on Friday named a new CEO as its founders step back from daily C-suite duties.

Matthew Sonsini, the company's chief investment officer, has been promoted to CEO. The company’s current CEO, John Michael Sobrato, will be chairman of the board while his father and company founder, John Albert Sobrato, becomes chairman emeritus.

The timing of the transition has not yet been made clear.

“As a member of the family and…

President Donald Trump on Friday said he intends to nominate Portland hotelier Gordon Sondland, founder and CEO of Provenance Hotels, to become the nation's ambassador to the European Union.

If approved by the Senate, Sondland would become the second Portland-area businessman appointed by Trump to an ambassadorship. George Glass of Lake Oswego, the former managing partner and owner of MGG Development and founder of Pacific Crest Securities, began serving as ambassador to Portugal in August 2017.…

Modernizing air-conditioning in a 75,000-square-foot building built decades before the widespread adoption of central air, cleaning up and restoring murals, terracotta tiles and decorative flooring and enhancing garden areas are top goals for the two-year renovation project for the Church of Jesus Christ of Latter-Day Saints’ Mesa Arizona Temple.

The Mesa temple will close May 19 and won’t reopen until 2020. The Mormon church has hired Salt Lake City architecture firm GSBS Architects to handle…

A major expansion of West Palm Beach’s largest entertainment venue has begun, as the Raymond F. Kravis Center for the Performing Arts broke ground on a $50 million project.

The 853,500-square-foot facility already hosts more than 500,000 patrons a year to its performances, but it wants a more modern and efficient layout.

Located at 701 Okeechobee Blvd., the Kravis Center is expanding its lobby by 5,200 square feet, building more restrooms in the lobby, decorating the open plaza at Okeechobee…

New speculative industrial space is moving forward in Gilbert.

SunCorp Property Group is constructing Gilbert Spectrum Building One at the southwest corner of Elliot and McQueen roads. The industrial building will be 134,358 square feet of space divisible to 15,000 square feet.

Nearly a quarter of the building already is pre-leased to vehicle supplier SDHG Off Road. John G. Soldo with Commercial Properties represented SDHG in the lease.

LGE Design Build is the architect on the project. It is expected…

If the new East Sacramento home listing by real estate broker Kim Pacini-Hauch looks familiar, you were paying close attention to a certain Oscar-nominated film.

The opening scenes of 2017’s “Lady Bird,” set in director Greta Gerwig’s hometown of Sacramento, feature the brick house on 1445 45th St. Pacini-Hauch of Re/Max Gold is listing the 6,600-square-foot home for $3.895 million.

“This is one of those situations where there hasn’t been a home for sale on this street in many years,”…

One land-use commission has had enough of CodeNext while another wants to hear more from the public. And Austin City Council wants staff to review an alternate plan offered by opponents of the land-use development code rewrite. In other words, just another typical week for CodeNext.

A unique property with 125 feet of Lake Washington waterfront in Medina is on the market for $8.5 million.

The home belongs to Alan and Jeannie McGinnis, who first bought the property in 1997.

Brokers Moya Skillman and Tere Foster with Team Foster at Avenue Properties have the listing.

Alan McGinnis is an entrepreneur who has started several companies including Enthrall Sports, and who worked at Microsoft for seven years as the director of MSN International.

Jeannie McGinnis founded and managed…

About 200 acres of undeveloped land that was to be part of the El Dorado Hills Business Park is now likely to be the site of a mixed-use development instead.

After park property owners voted last month to de-annex 240 acres from the park, Winn Communities and Ridge Capital Inc. are in talks to acquire the land and sketch out a plan for it.

Winn vice president George Carpenter said the early concept is a variety of housing types, meant to be more affordable than much of what’s typically built…

A volume homebuilder based in Austin has been acquired by a private equity firm that has more than $1.1 billion in assets under management.

Platform Ventures of Kansas announced Thursday it had purchased Scott Felder Homes LLC for an undisclosed amount.

Scott Felder Homes is active in 28 communities from Austin to San Antonio and controls more than 1,000 homesites, according to the announcement. That includes Belterra in Dripping Springs, Oaks at San Gabriel in Georgetown, Santa Rita Ranch near…