Stories for November 2014

Friday, November 28

Toyo Recalls Tires Under 2 Brands

Toyo Tire Holdings of Americas Inc. is voluntarily recalling about 175,000 tires for light trucks, SUVs and vans manufactured under its Toyo Tires and Nitto brand brands, due to potential tread or belt separation.

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Ingram Buys Company in Paris

Santa Ana-based Ingram Micro Inc. on Friday announced plans to acquire Anovo, a company in Paris that specializes in repairing and recycling devices such as smartphones and set-top boxes.

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JWA Traffic Up in October

Airline passenger traffic at John Wayne Airport increased 2.6% in October compared with a year earlier, the airport said.

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U.S. Hyundai Division Loses Marketing Head

Hyundai Motor America Inc. in Fountain Valley is looking for a new marketing chief after former Vice President of Marketing Steve Shannon left in mid-November.

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Irvine Security Firm Moves HQ to Carlsbad

A cyber security start-up in Irvine has moved its headquarters to Carlsbad, where it recently opened a new office.

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OCADA: October Auto Sales Up 6.5%; Prediction for 2015

October sales of new vehicles at Orange County auto dealers increased 6.5% year-over-year to 12,869, according to the Orange County Automobile Dealers Association.

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JWA Named to Condé Nast List

John Wayne Airport was named the fifth best airport in the country by readers of Condé Nast Traveler, the magazine said.

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Midday Stock Roundup

The S&P 500 was down 0.13% to 2,070.07 in midday trading.

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Wednesday, November 26

JWA Named to Condé Nast List

John Wayne Airport was named the fifth best airport in the country by readers of Condé Nast Traveler, the magazine said.

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U.S. Hyundai Division Loses Marketing Head

Hyundai Motor America Inc. in Fountain Valley is looking for a new marketing chief after former Vice President of Marketing Steve Shannon left in mid-November.

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OCADA: October Auto Sales Up 6.5%; Prediction for 2015

October sales of new vehicles at Orange County auto dealers increased 6.5% year-over-year to 12,869, according to the Orange County Automobile Dealers Association.

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Midday Stock Roundup

The S&P 500 rose 0.13% to 2,069.63 in midday trading.

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Tuesday, November 25

Fed Lifts Enforcement Action on Pac Merc

The Federal Reserve Board has terminated its enforcement action with Costa Mesa-based Pacific Mercantile Bancorp.

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Irvine-Based Cafe to Open Third Site

Irvine-based Java Bakery Café plans to open its third location in Lake Forest on Saturday, with a fourth to follow in Mission Viejo in January and a fifth in Corona del Mar later in 2015, the company said.

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Midday Stock Roundup

The S&P 500 rose 0.1% to 2,070.87 in midday trading.

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Monday, November 24

Wet Seal Taps L.A. Investment Bank, Tilly’s Vet

Wet Seal Inc. has hired Houlihan Lokey Capital in Los Angeles and former Tilly's Inc. executive William Langsdorf to “identify and analyze potential strategic and financial alternatives.”

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Midday Stock Roundup

The S&P 500 rose 0.2% to 2,067.34 in midday trading.

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NB Company Gets More Money to Build Hydrogen Stations

FirstElement Fuel Inc. will receive a $13.8 million loan from American Honda Motor Co. Inc. in Torrance to build 12 additional hydrogen fueling stations in the state.

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Habit to Hone Focus on Company-Owned Stores

RESTAURANTS: Newly public, debt-free chain targets Fla., D.C.

Habit Restaurants Inc. Chief Executive Russ Bendel said the Irvine-based fast-casual burger chain plans to grow largely by units it owns and operates, not franchises, after its Nov. 20 initial public offering.

Seattle Drugmaker With Local Plant Files for Bankruptcy

Performance of Dendreon Provenge Drug Elusive

Five years ago, the Business Journal wondered whether a “biotech beachhead” was going to take root in Orange County, an area long known for its domination by the medical device industry.

Honda Center Nets NCAA Hoops Opp

The Honda Center in Anaheim will host the West Regional of the NCAA basketball tournament in 2016, the Division I Men’s Basketball Committee announced.

Nonprofit to Buy 56 Corinthian Schools

Santa Ana-based for-profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.

Business Journal Honors Family Firms

A crowd of more than 350 turned out for a Nov. 19 luncheon at the Hotel Irvine to celebrate five honorees of the Business Journal’s 15th annual Family Owned Business Awards.

NB Amusement Operator Doubles Food, Drink Sales

HOSPITALITY: National accounts, franchises spur growth

Newport Beach-based leisure parks operator Palace Entertainment Inc. has doubled food and beverage sales in seven years, the company said.

Kaiser Considers Internal Candidates For Top Executive in OC

HEALTHCARE: Harrier interim; final choice expected next month

Julie Miller-Phipps says Kaiser Foundation Hospitals and Health Plan will likely stick with the familiar as it seeks to fill her role as its top executive in Orange County, where consideration of internal candidates is under way.

Milk Processor Board Lands License Deals on ‘Got Milk?’

MARKETING: South OC-based trade group owns famous slogan

A classic children’s storybook starts off with, “If you give a mouse a cookie, he’s going to ask for a glass of milk.”

UCI Health Partners With IE Hospital

UC Irvine Health has struck a deal on an affiliation with Corona Regional Medical Center, a midsize hospital just across the Riverside County line.

Debt Deal Puts Newport Center Values at New High

REAL ESTATE: Irvine Company takes $250M on 3 office buildings

Wells Fargo might not have its logo atop the newest office building on Newport Center Drive, but its name is on something just as important for the building: loan documents.

Herberts’ Triple Play; Allergan Name Game; Bully for Campbell

It seemed altogether fitting that three generations of Herberts—all Gavins, by the way—were on hand for the Business Journal’s 15th annual Family-Owned Business Awards last week (see related item, page 8; profiles of winners in next week’s edition).

Microsemi Boss Sees Rally in Defense Sector

TECHNOLOGY: Chipmaker projects ‘new cycle’ on outlays

Aliso Viejo-based chipmaker Microsemi Corp. enters a new fiscal year with a record backlog of contracts fueled by a resurgence in defense and security spending.

Biggest Employers Churn Out Another Modest Increase

ECONOMY: Top 79 combine for 258,796 jobs, 17% of county’s total

Orange County’s biggest employers grew their combined workforce by 1% in the past year, a modest but steady pace of growth for the fourth straight year.

Allergan Buyer Could Make Irvine HQ For Specialty Pharma

HEALTHCARE: Boss of N.J.-based Actavis likes OC’s appeal, talent

Orange County will remain a nerve center for Allergan Inc., according to the chief executive of its future parent company.

Deans of Delivery

Aliso Viejo-Based Outfit Has Been Mobile Link Between Restaurants, Business Customers for 21 Years

Food delivery is a hot subject in the restaurant industry these days.

Great Park Goes Commercial

Broadcom Campus Plan Puts Focus on ‘Companies and Jobs’

Expect to see a surge in commercial real estate development activity near the southern edge of the former El Toro Marine Base in Irvine, following the decision of Broadcom Corp. to relocate its headquarters to the Great Park Neighborhoods site.

Food Inc.: Entrepreneurs Take Recipes to Market

MANUFACTURING: Range from 2 people to $100M sales

The food business fills its plate as it fills ours.

Sares-Regis Adds Auto Tech School to Long Beach Site

Douglas Park Lands UTI For Long-Term Lease

Sares-Regis Group’s massive Douglas Park development site in Long Beach, once a base for the aviation industry, is slowly turning into an automotive hub of sorts.

West Orange County Lease Rates Rise As Supply Shrinks

It is no surprise that with hardly any new construction on the horizon in West Orange County, the trend of increasing lease rates continued in the third quarter.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Makena Resources Inc. sold a 14,458-square-foot retail property in Mission Viejo to a private investor for $8 million.

Pimco Takes New Approach on Life After Gross

Website Promotes Bond Heavyweight’s Services

Pacific Investment Management Co. is promoting the shared strengths of its leadership team on wearepimco.com, a new website of the Newport Beach-based firm.

Oculus Software Gives Designers Hand on Samsung’s Gear

More Headset Apps To Come in Next Few Months

The virtual reality ecosystem got another boost with the recent launch of two software development kits for Samsung’s new Gear VR headset, which allows users to experience VR through an app played on Samsung’s Note 4 smartphone.

OCBJ Calendar

Nov. 24-Dec. 3, 2014

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 47

The last surviving child of the founders of Knott’s Berry Farm died at 92.

PHILANTHROPY

More than 450 Southern California business and community leaders helped raise over $900,000 to benefit Big Brothers Big Sisters of Orange County’s professionally supported one-on-one mentoring relationships with at-risk youth.

Friday, November 21

Gross-Managed Fund Gets $500M from Soros

Billionaire hedge fund manager George Soros has put $500 million in a fund managed by Bill Gross at Janus Capital Group Inc.

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Valeant, Ackman Cash Out of Allergan

Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman’s Pershing Square Capital Management LP have slashed their stake in Irvine-based Allergan Inc. after losing a bidding war to Actavis PLC.

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Community Colleges Seek to Offer Bachelor’s Degrees

Three Orange County Community College Districts have submitted letters of intent to offer bachelor’s degrees in some subjects, according to the California Community Colleges Chancellor’s Office.

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Midday Stock Roundup

The S&P 500 rose 0.36% to 2.060.19 in midday trading.

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OC Adds 15,800 Jobs, Unemployment Falls to 5%

Orange County employers added 15,800 jobs in October, helping push down the unemployment rate to 5%.

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NB Title Company Acquired for $36M

Newport Beach-based title insurance company Experience 1 Inc. has been acquired by Solutionstar Holdings LLC for $36 million in cash.

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Wet Seal Inc. Names Interim CFO

Wet Seal Inc. named Thomas Hillebrandt its interim chief financial officer.

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Thursday, November 20

Wet Seal Inc. Names Interim CFO

Wet Seal Inc. named Thomas Hillebrandt its interim chief financial officer.

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SEC Suspends Trading of Penny Stock

The U.S. Securities and Exchange Commission said today that it halted trading in Anaheim-based Wholehealth Products Inc. and three other penny stock companies that “claim to be developing products and services in response to the Ebola [virus] outbreak.”

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Universal Protection Buys Guard Services Firms

Universal Protection Service in Santa Ana has acquired two guard services companies on undisclosed terms.

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Midday Stock Roundup

The S&P 500 rose 0.13% to 2,051.34 in midday trading.

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Corinthian to Sell 56 Campuses to NonProfit

Santa Ana-based for profit schools operator Corinthian Colleges Inc. said it will sell 56 campuses of its Everest College and WyoTech to Zenith Education Group Inc., an affiliate of Oakdale, Minn.-based student loan guarantor agency ECMC Group.

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Henrik Fisker, Galpin Ford Team Up on Muscle Car

Henrik Fisker is expected to announce plans for a new muscle car with a body made of carbon fiber during an appearance at the Los Angeles Auto Show today.

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Habit Goes Public

Irvine-based Habit Restaurants Inc. went public on Nasdaq this morning priced at $18 a share and has doubled in price to about $36.

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Wednesday, November 19

Blizzard Blockbuster

Blizzard Entertainment Inc.’s latest World of Warcraft expansion has sold more than 3.3 million copies in its first 24 hours on the market.

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Family Owned Businesses Honored

A crowd of more than 350 turned out for a Nov. 19 luncheon at the Irvine Hotel to celebrate five honorees of the Business Journal’s 15th annual Family Owned Business Awards.

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Honda Center to Host 2016 NCAA Regional

The Honda Center in Anaheim will host the West Regional of the NCAA basketball tournament in 2016, the Division I Men’s Basketball Committee announced.

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UCI Nabs Stem Ed Grant

The University of California-Irvine will work with three community colleges to recruit and retain women and minority students to study science, technology, engineering and math at the schools, an effort supported in part by a $1.8 million grant.

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Midday Stock Roundup

The S&P 500 declined 0.27% to 2,046.33 in midday trading.

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Corinthian Gets Second Nasdaq Notice

Santa Ana-based Corinthian Colleges received a second notice from the Nasdaq for failure to file timely reports, the company said today.

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Segerstrom Center Plans Dance School

The Segerstrom Center for the Arts in Costa Mesa plans to open a dance school in September 2015 with American Ballet Theatre, the center said.

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Habit IPO Set

Habit Restaurants Inc. has priced its initial public offering of 5 million shares tomorrow at $18 a share, the company said.

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Tuesday, November 18

Nekter Juice Bar Adds Food, App

Santa Ana-based Nekter Juice Bar Inc. is set to add food items to its menu and a smart phone app to order and buy them, the company said.

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OC Visitor Counts, Spending Up

More people came to Orange County in September, and they spent more money, the Anaheim/Orange County Visitor & Convention Bureau said.

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Supervisors Accept 2,500 Acres

The Orange County Board of Supervisors voted unanimously today to accept a donation of 2,500 vacant acres by the Irvine Company, said the parks unit of the county’s Community Resources department.

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Garden Grove IT Company Acquired

Garden Grove-based Bar Code Specialties Inc. will be acquired by Quest Solution Inc., a Nevada IT integrator.

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Ackman Withdraws From Meeting

Activist investor Bill Ackman said today that he would withdraw from a special shareholders’ meeting he had planned in the wake of Irvine-based Allergan Inc.’s $66 billion acquisition by Actavis PLC, according to CNBC.

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Midday Stock Roundup

The S&P 500 rose 0.52% to 2.051.92 in midday trading.

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Monday, November 17

El Pollo Loco Lock-Up Date Waived

Costa Mesa-based El Pollo Loco Holdings Inc. said insiders will be able to sell 6 million shares as early as Wednesday, November 19, after a “lock-up” date was waived by the lead managers of its initial public offering in July.

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Pieology Builds Executive Team

Pieology Pizzeria named Stephanie Lambrecht vice president of operations, the third senior executive it’s hired this summer.

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Midday Stock Roundup

The S&P 500 was flat at 2,040.35 in midday trading.

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Allergan Acquired by Actavis for $66B

Irvine-based Allergan Inc. has agreed to be acquired for $66 billion by Actavis PLC.

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Cal Republic Raises $90M, Swings to Profit in Q3

Irvine-based California Republic Bancorp has raised about $90 million in equity and debt offerings.

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Slater Endorses Volcom, Electric

Professional surfer Kelly Slater will endorse surf product for Costa Mesa-based Volcom Inc. and Electric Visuals in San Clemente.

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TRI Pointe in Full-Service Push for 2015 Sales Growth

REAL ESTATE: Adds mortgage, title services in wake of Weyerhaeuser deal

TRI Pointe Homes Inc. continues to build the foundation of an ambitious growth plan in 2015, despite some lingering questions over the health of the national homebuilding industry.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 46

Knott’s Berry Farm in Buena Park will introduce a 4-D interactive ride next year in its Boardwalk section. Voyage to the Iron Reef riders will play the role of trying to rescue the park from mechanical sea creatures attempting to destroy it.

OCBJ Calendar

Nov. 17-26, 2014

This week's business and other event listings.

All In On Aluminum

Laguna Hills Nonprofit Gets Body Shops Ready for Ford’s New Truck

The all-aluminum Ford F-150 trucks are set to roll off dealer lots next month—and you can bet that some will wind up in body shops before the new-car scent wears off.

BlizzCon’s Math: 3 New Games, 14 Languages

MEDIA: Crowd of 25,000 hears about 1st new franchise in 17 years

Blizzard Entertainment Inc.’s latest game in development marks another milestone for the Irvine-based company as it continues to offer new types of games in an ambitious schedule of product releases.

Another 180,000-SF Flip in South Coast?

REAL ESTATE: Would be 6th trade in 7 years for Costa Mesa office

Stop us if you’ve heard this one before: The distinctive Costa Mesa office that once held the headquarters of ICN Pharmaceuticals Inc. and later Valeant Pharmaceuticals International could soon have a change in ownership.

New Allergan Suitor Puts Friendly Face on Takeover Talk

HEALTHCARE: Could arrive at special meeting with two offers

A new bidder has brought a decidedly different tone to talks on a takeover of Irvine-based Allergan Inc.

Q&A

The Business Journal’s Jane Yu asked local bankers to discuss their and their clients’ thoughts on how to manage operations in a changing interest rate environment, where rates are expected to rise. Here are edited excerpts of their responses:

Banks Post Biggest Jump in Assets Since Predownturn

23 Together See 35% Rise To $18.5 Billion In Year

Orange County-based commercial banks have notched the biggest year-over-year asset growth in the ongoing economic recovery and even since the few years prior to the recession.

Biggest Credit Unions Account for Bulk of Growth

Group’s Assets to $16.9B, Despite Declines for Most

Orange County’s credit unions built assets at a faster clip over the past year, when the biggest of the group pulled most of the gains.

Hope for Hangars? South Coast Redux; Act II for Churm?

Are the powers that be rethinking the fate of the two hangars on the former Marine base in Tustin now that Google has signed a 60-year lease worth $1.2 billion for a similar structure and several others on surrounding grounds in the Silicon Valley?

Habit Looks to Trade on ‘Better-Burger’ Standing in IPO

RESTAURANTS: Recent growth, timing of offering look favorable

The Habit Restaurants Inc. in Irvine appears to have a number of factors working in its favor for an initial public offering that’s expected sometime this week, including some that reflect its strong run of recent years and others that indicate the chain is well-positioned for the future.

Software Deal Points to Resumption of Fisker Production

TECHNOLOGY: Pact with Quantum could bring stake in IP

Quantum Fuel Systems Technologies Worldwide Inc.’s new deal to supply key vehicle operations software for the relaunch of the Fisker Karma and potentially other models rekindles a relationship that had soured before the luxury automaker crashed two years ago.

Retail ‘Boot Camp’ Ahead of NAMM

HOSPITALITY: Show also hosts media on day before opening

The National Association of Music Merchants plans a “Retail Boot Camp” for music retailers on the day before its Jan. 22-25 show at the Anaheim Convention Center.

Small Restaurants Seek Big League Through Franchises

RESTAURANTS: Approach allows fast growth at limited cost

Small local restaurant companies plan to expand by franchise in 2015.

Vocational School Bucks One Trend, Taps Another

EDUCATION: Placements, demand for training strong

Caleb Everett said he has put $1 million into Career College of California and taken no salary since his Fortuna Education LLC bought it in 2010.

It’s Official: Broadcom HQ At Great Park

Irvine-based chipmaker Broadcom Corp. made its long-rumored move to Great Park Neighborhoods official, agreeing to buy land to build a 1.1-million-square-foot corporate headquarters. A price wasn’t disclosed.

Cosmetics Firm Could Go Up for Sale

Too Faced Cosmetics LLC in Irvine “is exploring a sale that could value it at several hundred millions of dollars,” according to Reuters.

Aliso Viejo Device Maker Raises $15M

Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.

Quiksilver Sells Online Retailer to Rival

Quiksilver Inc. sold online retailer Surfdome.com in the United Kingdom to Australia-based rival SurfStitch for $16 million.

Some Real Estate Experts Say 2014 Brings Normalcy

Post-Downturn Burst Has Cooled to Stable Market

Consumers, after watching the crash of the housing market in 2008, are wary of another “bubble.”

Senator Visits CHOC to Publicize Patient-Safety Effort

Preventable Patient Deaths ‘Makes You Choke Up’

A major supporter of the patient safety movement led by Irvine-based Masimo Corp.’s Chief Executive Joe Kiani stopped by Orange County this month.

Students Try to Live Más Football With Taco Bell

Tickets to College Playoff Games Part Of Giveaway

Taco Bell Corp. has teamed up with ESPN Inc. to give college students a chance to cheer on their teams at this season’s College Football Playoff games from the Live Más Student Section.

Robust Activity Continues in Mid-Counties Market

The third quarter in the Mid-Counties industrial market continued where it left off at the end of the second quarter, whose strong demand pushed levels of supply to their lowest in six years.

Greenwave Systems Does Design Work For Verizon

Adds to List of Customers That Includes DirecTV

Irvine-based smart technology provider Greenwave Systems has developed a router for Verizon Communications Inc.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

The Higgins Trust sold an office and residential building in Orange to a local investor for $2.3 million.

AT&T Again: Telecom’s Anaheim Campus For Sale

18-Acre Canyon Property Could Be Redeveloped

Another big property of AT&T Inc. in Anaheim is up for sale.

Friday, November 14

Edwards Lifesciences Appoints Director

Irvine-based heart valve maker Edwards Lifesciences Corp. said today that Nicholas Valeriani is a new member of its board of directors.

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Freedom Communications Folds Magazine

Freedom Communications Holdings Inc. will cease publication of OC Register Metro, according to the monthly magazine’s founder, Steve Churm, who announced the move during Freedom’s Hot 25 event on Thursday at the Island Hotel Newport Beach.

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Midday Stock Roundup

The S&P 500 was flat at 2,038.09 in midday trading.

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Subprime Auto Lender in Deal, Loses Irvine HQ

The owner of CarFinance Capital LLC is combining the Irvine-based subprime auto lender with another such company in its portfolio.

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Irvine Mortgage Bank Sold

Irvine-based mortgage lender American Interbanc Mortgage has been acquired by Seashine Financial LLC, also in Irvine.

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Thursday, November 13

LoanDepot Buys Massachusetts Firm

Foothill Ranch-based mortgage lender loanDepot.com LLC has acquired Mortgage Master Inc. on undisclosed terms.

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Hyundai Gets Honors for HQ

Hyundai Motor America Inc.'s new headquarters won honors from the local chapter of a global real estate trade group.

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First Class Graduates at Anaheim School

Bristol University in Anaheim will hold its first graduation ceremony Saturday November 15, the school said.

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UCI Develops Faster Blood Test

University of California-Irvine researchers have developed a new bloodstream infection test technology to speed up accurate diagnosis of ailments including Ebola, the school said.

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Midday Stock Roundup

The S&P 500 declined 0.13% to 2,035.66 in midday trading.

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It’s Official: Broadcom to Great Park

Irvine-based chipmaker Broadcom Corp. made its long-rumored move to the Great Park Neighborhoods official, agreeing to buy land to design and build a new 1.1 million square foot corporate headquarters, the company said.

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Allergan, Actavis in “Advanced Talks”

Irvine-based drug maker Allergan Inc. is in advanced negotiations with potential “white knight” suitor Actavis PLC, according to a Bloomberg report Wednesday.

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New Mitsubishi Finance Head Named

Mitsubishi Motors North America Inc. in Cypress appointed Dan Booth president of its financing arm, Mitsubishi Motors Credit of America Inc.

Wednesday, November 12

New Mitsubishi Finance Head Named

Mitsubishi Motors North America Inc. in Cypress appointed Dan Booth president of its financing arm, Mitsubishi Motors Credit of America Inc.

Allergan, Actavis in “Advanced Talks”

Irvine-based drug maker Allergan Inc. is in advanced negotiations with potential “white knight” suitor Actavis PLC, according to a Bloomberg report.

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Midday Stock Roundup

The S&P 500 declined 0.1% to 2,037.54 in midday trading.

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OrthAlign Gets $15 Million

Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.

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Tuesday, November 11

Irvine-Based Cosmetics Firm Reportedly in Play

Too Faced Cosmetics LLC in Irvine “is exploring a sale that could value it at several hundred millions of dollars,” according to Reuters.

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ICU Surges on Earnings Revision

San Clemente-based ICU Medical Inc.’s stock shot up today after it forecast stronger financial results for the full year.

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Midday Stock Roundup

Major stock indices were flat in midday trading.

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LB Couple Gives $9M to UCLA

B. John and Amelia Garrick of Laguna Beach have given $9 million to the University of California-Los Angeles for a new engineering center.

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Monday, November 10

Southwest Seeks JWA Flight to Puerto Vallarta

John Wayne Airport’s largest airline has filed an application with the U.S. Department of Transportation to add service to Puerto Vallarta beginning June 7, 2015.

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El Pollo Loco Insiders to Sell 6M Shares

El Pollo Loco insiders plan to sell 6 million shares, according to a U.S. Securities and Exchange Commission filing yesterday.

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Midday Stock Roundup

The S&P 500 rose 0.22% to 2,036.25 in midday trading.

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Quiksilver Sells Retailer to Rival

Quiksilver Inc. has sold online retailer Surfdome.com in the United Kingdom to Australia-based rival SurfStitch for $45 million, according to the Australian Financial Review.

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Habit Sets IPO Terms

Irvine-based the Habit Restaurants Inc. plans to offer 5 million shares priced at $14 to $16 a share in its initial public offering, according to updated filings with the U.S. Security and Exchange Commission.

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Chapman Indie Film Rights Sold

A film made by Chapman Filmed Entertainment LLC has sold U.S. distribution rights for a “mid-six figures” amount to ARC Entertainment, according to news reports.

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JWA Opens Bob Hope USO

John Wayne Airport said it would officially open a site of the Bob Hope USO today in the Thomas F. Riley Terminal B arrivals area.

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Hoag Gives $3.7M to Senior Center

Hoag Memorial Hospital said today it donated $3.775 million to the new Huntington Beach Senior Center in the Park.

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Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Stifel Steps Up in Newport Center

REAL ESTATE: Takes full floor at Irvine Company’s newest office

Bill Gross might have the highest profile among the first batch of tenants at Irvine Company’s newest office building in Newport Center, but Stifel, Nicolaus & Co. can claim the highest perch at the 21-story building.

Greenlaw Near Deal on BofA’s Brea Campus

An investment group that includes Irvine-based real estate investor and developer Greenlaw Partners is nearing a deal to buy the massive Bank of America office campus in Brea.

Office Market’s Occupancy Levels Improve

The office market continues to experience positive momentum, pushing toward a full recovery. Occupancy levels are steadily improving due to constant demand, moving the market to near prerecession conditions.

Investors Adapt to Changes in Post-Recession Market

‘Opportunistic’ Real Estate Scarce, Competition Stiff

Opportunity is still knocking for many of Orange County’s most active commercial real estate investors of the past five years, but it has required a decided shift in strategy.

Plenty in Play Around South Coast Metro; Don’t Forget the Vet

A trot around the South Coast Metro district that covers corners of Costa Mesa and Santa Ana reveals several sizeable chunks of property in a state of flux.

Working Wardrobes’ Transition Plan

James Toth was living with his parents and working odd jobs for cash that offered little security and no future.

Therapy Vets Can Embrace

Laguna Hills Nonprofit Taps Business on Mission to Heal

U.S. Marine Sgt. Chris Merkle was one of 20 infantrymen crowded into the back of an unarmored 7-ton truck as it sped along an unmarked dirt road one moonless night headed toward Baghdad.

Will This Shoe Fit?

China-Based 361° Aims for U.S. Share From Irvine HQ

361° International Ltd.’s recent arrival to the U.S. market is another step toward the China-based footwear and apparel company’s ultimate goal: becoming a top five global sports brand in a short period of time.

Industrial Market Records Busy Q3

Orange County’s industrial market continued to record healthy levels of activity in the third quarter, ending with 2.8 million square feet of gross activity and resulting in 208,021 square feet of positive net absorption.

Toshiba Digital Displays in Staples Center Lineup

MARKETING: Electronics outfit in Irvine lands sponsorship

Diversified electronics maker Toshiba America Business Solutions Inc. is supplying digital displays for LA Interactive, a new section of the Staples Center that opened over the weekend.

Allergan Shares Climb on Reports of Actavis’ Interest

HEALTHCARE: Drugmaker still mum on ID of latest suitor

Investors seem to be warming to the possibility of a combination of Irvine-based Allergan Inc. and “white knight” Actavis PLC.

LED Manufacturer Sets Up in Anaheim

MANUFACTURING: Shifts West Coast center from IE

MaxLite Inc., a lighting products manufacturer in New Jersey, has relocated the base for its West Coast operations to Orange County, where it has expanded its facility space as part of a bid for growth.

Mixed Backdrop as Chipmakers Cut Local Jobs by 2.5%

Biggest Here Combine for 4,735 Positions

The largest chipmakers in Orange County cut jobs in the past year as a major restructuring, Chapter 11 bankruptcy, and two sales stunted growth.

$4.7B San Onofre Plan Could Help Edison Dividend

ENERGY: Expectations ahead of decision on nuclear plant

Some seemingly disappointing news for Edison International shareholders now had investors cheering in recent weeks.

Irvine Firm Gets More Japan Nuclear Work

Irvine-based Kurion Inc. was awarded a $10 million grant from Japan’s Ministry of Economy, Trade and Industry to further test its technology to remove tritium at the Fukushima Daiichi Nuclear Power Plant.

Transit Center Lands New Shops, Eateries

The Anaheim Regional Transportation Intermodal Center signed several new retail and restaurant tenants, including grab-and-go grocery store Mission Market; the Hive Bar; brewery and burger restaurant R.A.D. Nano Brewery; vegetarian restaurant Silo; the third Orange County location of steam kettle cookery Ritter’s; and The Oyster Bar.

Cal State Fullerton Sets Gifts Record

Cal State University-Fullerton said it received more money in gifts this past fiscal year than in any year in its history, excluding a past one-time gift.

Tsaos Set for Electronics Hall of Fame

Orange County entrepreneurs Victor and Janie Tsao will be inducted into the Consumer Electronics Hall of Fame at a special event in Manhattan this week.

PHILANTHROPY

Global Genes-Allies in Rare Disease raised more than $500,000 at its third annual Tribute to Champions of Hope gala on Sept. 13. The event was held at the Hyatt Regency Huntington Beach.

Amazing Picture Quality—Nothing Else Matters

Vizio Ads Imply Couch Taters Stop All For Its TVs

Nothing is more captivating than ultra-HD resolution, according to Vizio Inc.’s latest ads.

Medtronic Details Exec Structure Post Covidien Buy

Changes Precede Nearly Doubling Workforce

Medtronic Inc., which has about 700 employees in Orange County, recently detailed a management team and restructured its business segments in the run-up to its proposed $42.9 billion buy of fellow device maker Covidien PLC, which has 670 local workers.

Telogis Software Aims to Help Cops Do Better Job

Latest Deal With Ford Eyes Driving Performance

Aliso Viejo-based Telogis Inc. is partnering with Ford Motor Co. to develop software that aims to improve law enforcement driving practices and public safety.

Broadcom Near Deal to Buy Great Park Land

Filing Says Talks For New Campus ‘Near Conclusion’

Broadcom Corp. is closing in on its long-awaited deal to buy the land for its new office campus near Orange County Great Park, according to filings with Irvine City Council.

Gerrity Lists Brea, Mission Viejo Retail Centers for Sale

Properties, 12 Others Could Fetch $500 Million

Shopping centers in Mission Viejo and Brea are part of a portfolio of West Coast retail properties that are on the block and could sell for nearly $500 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 45

The Wet Seal Inc. in Foothill Ranch said in its Securities and Exchange Commission filings that its cash balance for the fiscal quarter ended Nov. 1 was approximately $19.1 million.

OCBJ Calendar

Nov. 10-19, 2014

This week's business and other event listings.

Friday, November 7

JWA Opens Bob Hope USO

John Wayne Airport said it would officially open a site of the Bob Hope USO on Monday in the Thomas F. Riley Terminal B arrivals area.

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Midday Stock Roundup

The S&P 500 rose 0.03% to 2,031.88 in midday trading.

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Irvine Insurance Brokerage Acquired

Irvine-based NuWest Insurance Services Inc. has been acquired by Marsh & McLennan Agency LLC on undisclosed terms.

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Two Freedom Shareholders Press for Receivership

Two investors who helped Aaron Kushner and Eric Spitz finance the purchase of Freedom Communications in 2012 have asked the Delaware Chancery Court to put the media company’s operations into receivership, claiming “it needs independent oversight because the company is insolvent and in financial distress from mismanagement,” according to the website Law360.

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Thursday, November 6

El Pollo Loco Sales Up, Revs In Line

Costa Mesa-based El Pollo Loco Holdings Inc. reported higher same-store sales and revenues in line with analysts' expectations.

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Microsemi in Line on September Quarter

Aliso Viejo-based chipmaker Microsemi Corp. today reported revenue in the September quarter slightly above Wall Street expectations and adjusted profits in line with estimates.

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Two Freedom Shareholders Press for Receivership

Two investors who helped Aaron Kushner and Eric Spitz finance the purchase of Freedom Communications in 2012 have asked the Delaware Chancery Court to put the media company’s operations into receivership, claiming “it needs independent oversight because the company is insolvent and in financial distress from mismanagement,” according to the website Law360.

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Allergan Said in Talks with Actavis

Irvine-based drug maker Allergan Inc. is in active talks with New Jersey-based Actavis PLC about a deal, sources familiar with the situation told Bloomberg today.

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Midday Stock Roundup

The S&P 500 rose 0.16% to 2,026.78 in midday trading.

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Wednesday, November 5

CSUF Reports $16M in Gifts

Cal State University-Fullerton received just more than $16 million in gifts in its most recent fiscal year, nearly double the prior year’s total, the school said.

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Tsaos Earn HOF Nod

Orange County entrepreneurs Victor and Janie Tsao will be inducted into the Consumer Electronics Hall of Fame at a special event in Manhattan next week.

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Midday Stock Roundup

The S&P 500 rose 0.52% to 2,022.61 in midday trading.

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Tuesday, November 4

Transit Center Signs Tenants

The Anaheim Regional Transportation Intermodal Center (ARTIC) has signed several new retail and restaurant tenants, the center said.

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Two OC Automakers Beat U.S. Sales Numbers

Two Orange County-based automakers beat national new-vehicle sales figures in October as the other two fell below U.S. averages, according to New Jersey-based market researcher Autodata Corp.

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Stanbridge Gets Synthetic Cadavers

Stanbridge College in Irvine has added two synthetic, full-body, human cadavers for students in its healthcare degree programs, the school said.

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Pershing Square, Valeant Can Vote Allergan Shares

Valeant Pharmaceuticals International, Inc. in Quebec and Pershing Square Capital Management, L.P. in New York, can vote their shares of Allergan Inc. at the Dec. 18 shareholder meeting of the Irvine-based drug maker, according to a ruling issued today.

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Kurion Gets $10M Grant From Japan

Irvine-based Kurion Inc. has been awarded a $10 million grant from Japan's Ministry of Economy, Trade and Industry to further test its technology to remove tritium at the Fukushima Daiichi Nuclear Power Plant.

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Midday Stock Roundup

The S&P 500 declined 0.38% to 2.010.17 in midday trading.

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Monday, November 3

Hyundai, Kia Reach Settlement With EPA

Hyundai Motor Co. and Kia Motors Corp. have reached a $350 million settlement with the U.S. Environmental Protection Agency and the U.S. Department of Justice on charges that the South Korea-based automakers violated the Clean Air Act by overestimating mileage claims.

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Allergan Approached by Actavis, Reuters Says

A regulatory filing by Irvine-based Allergan Inc. today confirmed that is has been approached by another company about a potential transaction.

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Midday Stock Roundup

The S&P 500 rose 0.16% to 2,021.23 in midday trading.

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Pimco Brings Exec Back as Co-CIO

Pacific Investment Management Co. has re-hired Marc Seidner as a chief investment officer, making him the firm’s sixth co-CIO.

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Questcor’s $5.8B Bow

Big Revenue Gains Precede Big Pharma Deal

The company that topped the Business Journal’s 2014 list of the fastest-growing large public companies based in Orange County has already taken itself out of the running for next year’s title.

Much Bigger Homebuilder

TRI Pointe’s Revenue Jumps 1,621%—Before Big Buy From Weyerhaeuser

If you think TRI Pointe Homes Inc.’s revenue growth over the past 24 months is eye-opening, just wait until next year.

Cold Heat

Cryoport Gets Goods There Cold, Grows Revenue by Nearly 400%

Cryoport Inc.’s chilly business is fueling red-hot sales growth.

OC’s Hollywood Side; Montage on Block? Ackman at Airport

Sometimes the uninitiated are right even when they’re wrong about Orange County.

Broadcom, Microsemi Team Up on New DSL Chips

TECHNOLOGY: Seek new standard for next generation

The two largest chipmakers based in Orange County are working together to develop a new connectivity standard for next-generation digital subscriber lines, commonly referred to as DSL.

GM Venture Arm Takes Telogis Stake in Latest Infusion

TECHNOLOGY: Software firm also inking deals to grow

Aliso Viejo-based Telogis Inc. has received an equity investment from GM Ventures, the venture capital arm of General Motors Inc.

China-Based Shoe Brand Starts in OC

APPAREL: Initial focus on wholesale from Irvine HQ

The Irvine-based arm of a major sports apparel and footwear brand in China launched a website last week, marking its first foray into the U.S. market.

Boot Barn IPO Paves Way for Next Step of Growth Plan

RETAIL: Steady pace on new stores after recent acquisitions

Boot Barn Holdings Inc. plans to use the money it raised in last week’s initial public offering to pay down debt and continue a push to bring its Western gear to shoppers coast-to-coast.

Business Principles Back Growth of K-12 Schools

EDUCATION: OC-based clusters aim for wider markets

Local private schools that are run on basic business principles have plans to expand in ventures that charge upward of $1,000 a month, with more customers born every day.

St. John Knits Looks for New CEO

Geoffroy van Raemdonck will step down as chief executive of Irvine-based high-end knitwear maker St. John Knits International Inc., according to California Apparel News.

Kodiak to Buy $5M in Alt Energy Stock

Newport Beach-based investment firm Kodiak Capital Group LLC agreed to buy $5 million worth of common stock of Cirque Energy Inc., a Detroit-based developer of alternative energy sources.

Tenet Names Placentia Hospital CEO

Tenet Healthcare Corp. named Audrey Gregory the new chief executive of Placentia-Linda Hospital.

Vizio Title Sponsor of 2014 Fiesta Bowl

Irvine-based Vizio Inc. signed on as the title sponsor of the 44th Annual Fiesta Bowl, which is scheduled to take place Dec. 31 at University of Phoenix Stadium in Glendale, Ariz.

Take It From Tommy Bahama: Follow-Up Matters

Take It From Tommy Bahama: Follow-Up Matters

This tidbit about a restaurant doing it right, doing what hospitality is really all about, seems like such a good way to start the column.

Billionaires Increasingly Invest in Ultra-Luxury Homes

Diversify Portfolios, Look For Location, Often in OC

Orange County’s coastal region, which stretches from the tip of Seal Beach at its northern edge to the end of San Clemente to the south, includes the most significant communities in the local luxury market.

CEO: Quality Systems Showed ‘Marked Improvement’

Most of Software Maker’s Growth Through Mirth

Irvine-based healthcare software maker Quality Systems Inc. is showing “marked improvement across all fronts of the organization,” according to Chief Executive Steve Plochocki.

Toshiba Ads to Medical Pros: You Have a Voice

Aims to Distinguish Firm From Rivals in Industry

Toshiba America Medical Systems has launched an advertising campaign that aims to position the Irvine-based diagnostic imaging company as one that “adapts to and understands its customers’ business,” according to Nancy Gillen, its vice president of marketing.

Greater LA Sees Job Growth, Mix of Healthy, High Vacancies

Increased job growth helped fuel a surge in tenant demand in the Greater Los Angeles office market in the third quarter with 705,097 square feet of positive net absorption, which pushed the vacancy rate down to 16.5% and the average asking lease rate up to $2.67 per square foot, a 6.5% year-over-year increase.

IT Provider’s Fast Growth Lands It on Fortune List

Lumen21 Had 803% Growth Rate in 5 Years

A fast-growing IT provider in Orange is gaining recognition targeting smaller companies in the healthcare, financial service and retail industries.

Real Estate Deals

Premier Realty Management Inc. sold a two-story office building in Santa Ana to Big Brothers Big Sisters of Orange County.

OCBJ Calendar

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 44

Irvine-based Kia Motors America Inc. will continue as the Official Automotive Partner of the National Basketball Association, and its K900 sedan will take on the role of the league’s official luxury vehicle.

Fastest Growers Keep Pace

Public Cos. Combine for 24% Hike to $83B in Sales

The latest batch of Orange County’s fastest-growing public companies kept pace with last year’s mix, combining for a 24% growth rate on revenue.

Need for Speed

Why Fast-Growing Companies Matter to Local Economy

Fast growth matters. Having a deep pool of fast-growing public companies is a plus on many fronts for Orange County’s economy and community.

Ackman Puts Allergan Directors at Forefront of Takeover Fight

HEALTHCARE: Sticks with candidates in face of critique

Expect the fight over Irvine-based Allergan Inc. to turn toward the drugmaker’s board room.

St. Joseph New Anchor for Downtown Anaheim With 191,556-SF Lease

REAL ESTATE: Deal for 8-story office largest so far this year

An eight-story building near Anaheim’s City Hall that previously served as the local operations hub for AT&T Inc. has been leased to a growing integrated-care medical group affiliated with Orange-based hospital operator St. Joseph Health System.