Stories for June 2015

Tuesday, June 30

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,063.37.

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Del Taco-Levy Combo OK’d

Lake Forest-based Del Taco Holdings Inc. will be acquired and become a public company today, after shareholders in Chicago-based Levy Acquisition Corp. voted in favor of Levy’s acquisition of the Mexican-style fast food chain.

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Monday, June 29

JWA Traffic Up in May

John Wayne Airport booked a nearly 5% increase in passengers and a 1% increase in commercial airline flights in May 2015, compared with the same month last year.

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Fifi's Best

It always happens.

Midday Stock Roundup

Stock indices were down at midday after the collapse in economic bailout talks for Greece led to concerns the country would bail out of the euro zone.

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Hyundai to Sponsor NFL

Hyundai Motor America Inc. in Fountain Valley said it has become an official automotive sponsor of the National Football League.

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Disneyland Exemption, Expansion on Anaheim Agenda

Walt Disney Co. is proposing a $1 billion expansion at its Disneyland theme park in Anaheim that would include new attractions, parking and other infrastructure improvements – and it wants a tax break in exchange.

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Johnny Rockets to Poland

Aliso Viejo-based Johnny Rockets said Warsaw-based HDS Polska Group plans to open 10 Johnny Rockets over the next 10 years in Poland.

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PHILANTHROPY

On May 30, 540 guests gathered at Orange County Great Park’s Palm Court Arts Complex in Irvine for the Susan G. Komen Orange County’s 9th Annual Pink Tie Ball.

Ingram Micro Makes Two Acquisitions

Santa Ana-based Ingram Micro Inc. acquired two companies that add to its higher-margin and growing recycling and mobile services business, buying U.K.-based Canai Group and Clarity Technology in Portugal on undisclosed financial terms.

Alliant Gets New Largest Shareholder

Alliant Insurance Services Inc. received “a significant equity investment” from Stone Point Capital LLC, which now is the largest shareholder of the Newport Beach-based insurance brokerage firm.

CSUF Appoints 3 to Foundation Board

California State University-Fullerton named Mark Costa, Bill Cheney and Ingrid Otero-Smart to its philanthropic foundation’s board of governors.

Businesswomen Honored by Journal

A crowd of more than 800 attended the Business Journal’s 21st Annual Women in Business Awards, where cosmetics entrepreneur Toni Ko delivered the keynote address challenging female entrepreneurs to redefine the benchmarks of success in their professional and personal lives.

OC-Based Chains Serve Up 5.8% Increase in Revenue

RESTAURANTS: $14.9B in sales and 17,923 local workers

Business is strong for Orange County-based restaurant chains, mirroring a year of eating heartily nationwide.

Del Taco Tuesday

Vote on Sale to Chicago-Based Levy Expected to Bring Experience, Expansion

Lake Forest-based Del Taco Holdings Inc. is poised to change its name, be acquired and become a publicly traded company this Tuesday.

GenSpring Taps New Boss in Costa Mesa

GenSpring Family Offices LLC, an affiliate of Atlanta-based SunTrust Banks Inc., has tapped private banking industry veteran Chris Walters to head its western U.S. business from its regional headquarters in Orange County.

Investor Adds Law Firm in Maryland to Holdings

FINANCE: Deal brings eighth company to Plutos Sama stable

Investment holding company Plutos Sama LLC has acquired the Fisher Law Group PLLC, which focuses on resolution of delinquent real estate portfolios.

Irvine Device Maker Has Designs on Growth

HEALTHCARE: Study, new device build optimism

Irvine-based Breathe Technologies Inc. is looking to get a boost from new clinical study results and a device that’s scheduled to be introduced this year.

Ko’s Call on Sleep Trend; McLarand’s Double Vision

Toni Ko had a crystal ball to go with her public-speaking chops as she held the crowd of more than 800 rapt with the keynote at the Business Journal’s 21st Annual Women in Business luncheon last week.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 26

CT Realty, Xebec Start Work at Dallas Mega-Center

530-Acre Industrial Site, 3.8M SF Eyed for 1st Phase

A venture headed by Aliso Viejo-based CT Realty and Seal Beach-based Xebec Realty Partners has kicked off construction of one of the largest industrial developments currently on the books in the U.S. at a site they own in Texas.

Central, North OC Office Vacancies Drop in Q1

The Central and North Orange County office submarkets have traditionally trailed the Greater Airport Area and South Orange County office submarkets in terms of vacancy, average asking lease rates, and absorption of space. The start of 2015 was no different.

Real Estate Deals

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

KO’s HB Medical Building Inc. sold a medical office building in Huntington Beach to Blue Sky HB LLC for $7.8 million, or $160.21 per square foot.

Gaming Heroes, Legacies and Rescues Star at E3 Show

Game Developers Parade New Titles, Talk Shop

Industry insiders and members of the media attending the recently concluded Electronic Entertainment Expo got a sneak peak at several new titles Orange County video game developers plan to introduce in coming months.

Allergan Logo Goes for ‘Purposeful Paths of Change’

New Look Keeps Old Blue, Alters Font, Symbol

Actavis plc sealed its name change to Allergan plc with a new logo that “speaks to the strength of the company’s unique capabilities, the energy and passion of its people and its forward momentum.”

Analysts Praise Sapien 3, Predict Continued Dominance

Low-Risk Patients Next Prize for Heart Valve Maker

Irvine-based Edwards Lifesciences Corp. “ought to pull away again” from its competitors in the transcatheter heart valve market, according to a recent report published on the Seeking Alpha investor website.

OCBJ Calendar

June 29-July 8, 2015

This week's business and other event listings.

Golden Truffle’s Alan Greeley Has Recipe for Satisfaction

Creative, Eclectic, Friendly Style Cooks Up Delicious

I don’t even want to count how many restaurants I have eaten in this past year. But I can tell you that no chef has consistently impressed me more over a few decades, and still does, than Alan Greeley, the chef and owner of Golden Truffle in Costa Mesa. This special guy is my pick for Chef of the Year because he thinks globally about food and he makes culinary memories for all of us.

Initial Reaction: DGWB Yields to Amusement Park

ADVERTISING: New top exec for 27-year-old Santa Ana ad shop

A new flag flies over the historic city hall building in Santa Ana, home to one of Orange County’s oldest independent advertising agencies.

Quintana Sale Sets New Benchmark in Airport Area

REAL ESTATE: More deals likely as high end of office market heats up

A five-story office on the former Washington Mutual Inc. campus in Irvine has traded hands for nearly three times its value of five years ago.

Olson Takes It Up a Notch in Spectrum

Full-Service Marriott Cost to Top $100M, Get $300+ a Night

R.D. Olson Development is going upscale—and tall—with its latest hotel project in the Irvine Spectrum.

Friday, June 26

Johnny Rockets to Poland

Aliso Viejo-based Johnny Rockets said Warsaw-based HDS Polska Group plans to open 10 Johnny Rockets over the next 10 years in Poland.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,097.42.

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Thursday, June 25

Franchisee Switch for Johnny Rockets in UAE

A Dubai-based private equity firm bought 14 Johnny Rockets franchised restaurants in the United Arab Emirates from the franchisee group that runs them.

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Midday Stock Roundup

The S&P 500 was down 0.1% at midday to 2,107.50.

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RichUncles Gets $3M Loan

Newport Beach-based real estate investment trust RichUncles LLC has received a $3 million loan from Pacific Mercantile Bank in Costa Mesa.

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Cianna Medical Raises $4M

Aliso Viejo-based Cianna Medical Inc. has raised $4 million, according to a U.S. Securities and Exchange Commission filing.

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Quiksilver in Creative Shift

Quiksilver Inc. said it’s taking a new global creative direction that “echoes the fertile environment of Quiksilver and the surf community in the 70s and 80s.”

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Wednesday, June 24

Stem Cell Company Opens New SA Facility

PrimeGen Biotech LLC, a stem cell company, has moved from Irvine to a new facility in Santa Ana.

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Sabra Spends $234M for Nursing Homes

Irvine-based Sabra Health Care REIT Inc. said today that it bought four nursing homes in Maryland for $234 million.

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Midday Stock Roundup

The S&P 500 was down 0.6% in midday trading to 2,111.64.

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Chapman Ups Forecast on OC Jobs

Orange County’s economy is expected to add about 47,000 jobs through this year and another 41,000 in 2016, according to an updated estimate by Chapman University’s Argyros School of Business and Economics.

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AOCVCB’s New Name: Visit Anaheim

The Anaheim/Orange County Visitor & Convention Bureau has changed its name to Visit Anaheim.

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Juice It Up to Add NM Units

Irvine-based Juice It Up said Albuquerque franchisee It Takes Two LLC plans to add two locations in New Mexico.

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Tuesday, June 23

UCI Humanities Gets $2.7M Mellon Grant

The University of California-Irvine has received $2.7 million from the New York City-based Andrew W. Mellon Foundation to broaden access to its Ph.D. program in Humanities by providing funding for tuition and teaching fellowships.

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21st Annual Women in Business Awards Winners Announced

A crowd of more than 800 attended the Business Journal’s 21st Annual Women in Business Awards, where cosmetics entrepreneur Toni Ko delivered a keynote address that challenged female entrepreneurs to redefine the benchmarks of success in their professional and personal lives.

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Hyundai Giving Final $2M Installment of Cancer Grant to CHOC

Fountain Valley-based Hyundai Motor America and its nonprofit, Hope on Wheels, will present a final $2 million installment of a $10 million research grant to Children’s Hospital of Orange County on Thursday.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,122.62.

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Alliant Gets New PE Investment

Alliant Insurance Services Inc. has received “a significant equity investment” from Stone Point Capital LLC, which now is the largest shareholder of the Newport Beach-based insurance brokerage firm.

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Ingram Micro Buys Two Companies

Santa Ana-based Ingram Micro Inc. has acquired two companies that add to its higher-margin and growing recycling and mobile services business.

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Monday, June 22

Taco Bell Parent Pursues India Franchise Deal

Irvine-based Taco Bell Corp.’s parent company plans to sell franchise rights in parts of India to three private equity firms, a news report in that country said.

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World Poker Tour Sells for $35M

Irvine-based WPT Enterprises Inc., which runs the World Poker Tour, has been acquired for $35 million by one of China’s largest gaming companies.

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Anna’s Linens to Liquidate Inventory

Anna’s Linens Inc. in Costa Mesa has started what it describes as a going-out-of-business sale at its 252 retail locations throughout the U.S. and Puerto Rico.

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MemorialCare Names New Long Beach Boss

Fountain Valley-based MemorialCare Health System said today that John Bishop is the new chief executive of its Long Beach Memorial, Miller Children’s & Women’s Hospital Long Beach and Community Hospital Long Beach.

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Midday Stock Roundup

The S&P 500 was up 0.6% to 2,122.77.

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CSUF Names Three to Foundation Board

California State University-Fullerton named Mark Costa, Bill Cheney and Ingrid Otero-Smart to its philanthropic foundation’s board of governors.

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OC Auto Sales Up in May

Orange County auto dealers sold 14,596 vehicles in May, a 10.7% increase from the same period last year, according to the Newport Beach-based Orange County Automobile Dealers Association.

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Coastal Property Reimagined With Two-Home Buy

Renovation, Tear-Down To Create Dream Oasis

Many of Orange County’s most valuable properties are found on the coast, including Newport Beach, Corona del Mar and Laguna Beach.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 25

Kia and Hyundai—both of which keep their U.S. headquarters in Orange County—rose to the top of J.D. Power and Associates’ “Initial Quality Study,” which gauges vehicles’ quality based on responses of more than 80,000 people who bought or leased a 2015 model vehicle.

Startup Raises $6.5M for Sales, Software

Irvine startup Connectifier raised $6.5 million in a Series A funding round led by True Ventures in Palo Alto.

Karma Car Plant to Be in Moreno Valley

Costa Mesa-based Fisker Automotive and Technology Group said its first U.S. manufacturing plant for the relaunch of the Karma hybrid electric car will be in Riverside County and that the facility will create 150 jobs.

Anna’s Linens Files for Bankruptcy

Anna’s Linens Inc. in Costa Mesa filed for Chapter 11 bankruptcy protection on June 14 in the U.S. Bankruptcy Court, Central District of California.

Allergan Boss Gives Emphasis to Irvine

HEALTHCARE: Expects to split time between N.J., OC

Irvine will continue to play a critical role in the newly named Allergan plc as plans call for the drugmaker’s campus on Dupont Drive to remain the home of its biggest business lines.

Real Estate Deals

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

A retail property in Anaheim was sold to an undisclosed buyer for $2.6 million, or $212.59 per square foot.

Goodman Birtcher Inks Paper Company for IE Lease

Georgia-Pacific Takes 1.6M-SF Logistics Center

Irvine-based developer Goodman Birtcher has signed one of the largest industrial leases in Southern California in years for a logistics center it’s building in Rancho Cucamonga.

Ex-Blizzard Exec Takes Top Post at Game Developer

20-Year Stint Included President, COO Roles

Longtime gaming exec Paul Sams recently uprooted from Orange County, moved to Austin, Texas, and then ended up taking the top job at Irvine-based game developer Ready at Dawn, which is less than two miles from his former employer, Blizzard Entertainment Inc.

Manufacturing and Warehouse Sector Tightens Further in Q1

The Orange County manufacturing and warehouse segment’s vacancy rate dropped to 2.3% in the first quarter, compared to the fourth quarter’s rate of 2.6%.

OC Congresswoman Joins Health Tax Repeal Efforts

Walters Against Reform Levy on Health Insurers

A freshman member of Orange County’s delegation in Congress has attached herself to a campaign to repeal another federal tax related to healthcare reform.

BMW Pops Up Once Again at South Coast Plaza

Shoppers Referred to Area Dealerships for Purchases

Pop-up shops are not just for pearls and purses—BMW is back at South Coast Plaza in Costa Mesa after a successful debut last year.

OCBJ Calendar

June 22-July 1, 2015

This week's business and other event listings.

Ingram Micro Makes Saudi Arabia Buy

Santa Ana-based Ingram Micro Inc. furthered its reach in the Middle East by acquiring the assets of Arabian Applied Technology, the largest value-added reseller in Saudi Arabia.

Women-Owned Businesses Wanted for Business Journal’s Annual List

Special report: Focus of July 6 edition

Is your company women-owned? The Business Journal wants to hear from you.

Goodwill Data Plan to Connect Vets in Need, Service Providers

NONPROFITS: $1.6M for program at new Tierney Center

Goodwill of Orange County has received a $1.6 million grant from America’s Warrior Partnership (AWP) and taken on a new challenge that follows a recent study that found social service programs for military veterans here are disjointed and would benefit from a new level of coordination.

Mazda Takes Side Trip to E3 in Pursuit of Millennials

AUTOMOTIVE: Showcases Miata in contest, simulated drive

Irvine-based Mazda North American Operations rolled into the Electronic Entertainment Expo last week for the first time in the event’s 20-year history, a cherry red Miata in tow.

Maker of Tiny Devices Goes Big With New Base

HEALTHCARE: MicroVention also plans hires to beef up R&D

Small devices are adding up to big growth for MicroVention Inc.

MagnaFlow Owners Keep OC Ties Amid Expansion in SD

MANUFACTURING: $10M HQ in works next to factory there

A Rancho Santa Margarita-based manufacturer of catalytic converters and performance exhaust systems broke ground on a $10 million, 100,000-square-foot headquarters and manufacturing facility in Oceanside late last month.

Glaukos Sets IPO, Eyes Up to $77M

HEALTHCARE: Market cap could range upward of $445M

Orange County’s crop of privately held, venture-backed medical device companies is poised to graduate one of its best-funded members into the ranks of public companies.

Michelson to Anchor REIT on Singapore Exchange

REAL ESTATE: Trophy office value estimated at $310M

The Michelson office tower in Irvine, which traded hands three years ago in what’s believed to be the priciest single-building office sale ever in Orange County, is about to get a lot more interest from Asian investors.

Dana Point Land Sells, Slated for Townhomes

REAL ESTATE: Zephyr plans 168 units for land along PCH

Zephyr Partners, an Encinitas-based real estate development and investment company, has picked up a 9-acre site in Dana Point where it’s planning its first big residential project in Orange County.

Saunders Soaks Up OC Experience

Was Allergan CEO Brent Saunders simply spouting feel-good lines for the locals when he took the stage with Jim Mazzo during Octane’s ophthalmology summit at the Center Club last week and talked up the company’s commitment to Irvine?

Standard Pacific Could Skip Irvine, Rest of Golden State on HQ

REAL ESTATE: Combo with Ryland would create 4th largest homebuilder

Standard Pacific Corp.’s long run as the largest homebuilder based in Orange County could come to an end once the company’s pending acquisition of Ryland Group Inc. is complete.

Broadcom Buyer to Sell Emulex HQ

REAL ESTATE: Shift to Irvine from Costa Mesa looks to be Avago’s plan

The new owner of Emulex Corp. has put the networking equipment maker’s Costa Mesa headquarters campus up for sale, paving the way for local operations to be eventually relocated to Irvine, where it has a $37 billion acquisition of Broadcom Corp. pending.

How Pac Life Rates

Diversification Keeps Firm Atop Private Companies in Era of Low Yields

The financial crisis is over, but uncertainty remains for any company whose profitability faces challenges in this era of persistent low interest rates—even if the company is the biggest privately held enterprise in Orange County, with $7.7 billion in annual revenue and more than 2,000 employees here and another 1,000 or so around the world.

Private Cos. Set Pace on Jobs

Biggest Based Here Surpass Broader Economy on New Hires

The biggest private companies based in Orange County have been big on building the local workforce over the past year, adding jobs at a faster pace than the county’s overall economy.

Friday, June 19

OC Auto Sales Up in May

Orange County auto dealers sold 14,596 vehicles in May, an 10.7% increase from the same period last year, according to the Newport Beach-based Orange County Automobile Dealers Association.

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KPC Health Names Richards CEO of Health Operations

KPC Health, a unit of the Riverside-based KPC Group, said today that it named Suzanne Richards chief executive of healthcare operations.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,116.82.

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OC Adds Jobs But Unemployment Up

The unemployment rate in Orange County ticked up in May despite an increase of 13,000 jobs.

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Thursday, June 18

Ad Agency Spinoff Gets $2.15 Million

Founders of the Column Five Inc. ad agency said they have secured $2.15 million in seed money to grow their side endeavor, Visage Inc. in Irvine.

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Midday Stock Roundup

Stock indices were strongly higher in midday trading on a decline in applications for unemployment benefits to a 15-year low, indications from a predictive index that the economy could strengthen in the second half of the year, and yesterday’s U.S. Federal Reserve Board decision that it wouldn’t yet raise interest rates.

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Wednesday, June 17

FDA Clears Edwards Sapien 3 Valve

The Food and Drug Administration Wednesday approved Irvine-based Edwards Lifesciences Corp.’s Sapien 3 less-invasive heart valve.

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Midday Stock Roundup

The S&P 500 was down 0.2% to 2,091.48.

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Allergan Adds to Aesthetics Line

Allergan Plc will buy Westlake Village, Calif.-based Kythera Biopharmaceuticals Inc. for cash and stock valued at $2.1 billion.

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Tuesday, June 16

Fisker to Open Moreno Valley Plant

Costa Mesa-based Fisker Automotive and Technology Group said in a press release that its first U.S manufacturing plant for the relaunch of the Karma hybrid electric car will be in Moreno Valley.

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Ingram Acquires Saudi Arabia Reseller

Santa Ana-based Ingram Micro Inc. has furthered its reach in the Middle East by acquiring the assets of Arabian Applied Technology, the largest value-added reseller in Saudi Arabia.

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Midday Stock Roundup

The S&P 500 was up 0.6% to 2,096.10 in midday trading.

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Irvine-Based Software Maker Raises $6.5M

Irvine startup Connectifier has raised $6.5 million in a Series A funding round led by True Ventures in Palo Alto.

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Habit Readies First Florida Location

Irvine-based Habit Restaurants Inc. plans to open its first restaurant in Florida on June 24 in Delray Beach.

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Monday, June 15

Anna’s Linens Files for Chapter 11

Anna’s Linens Inc. in Costa Mesa filed for Chapter 11 bankruptcy protection on June 14 with the U.S. Bankruptcy Court, Central District of California.

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Midday Stock Roundup

The S&P 500 was down 0.5% to 2,084.12.

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Standard Pacific to Combine with Ryland in $5.2B Deal

Irvine-based Standard Pacific Corp. said it would combine with Westlake Village-based Ryland Group Inc. in a deal valued at $5.2 billion, which news reports said would create the fourth-largest homebuilder in the U.S.

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Glaukos Sets IPO Terms

Laguna Hills-based device maker Glaukos Corp. has officially opened its upcoming initial public offering, according to a federal filing.

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OCBJ Calendar

June 15-24, 2015

This week's business and other event listings.

Growth Market

Farms Not Quite History: 5,000 Acres Under Plow, $132M Crop

The Irvine Company’s Orange County portfolio includes 25 million square feet of offices, 32,000 apartments—and 1,000 acres of avocado trees.

Aggressive Stance

Socks in NBA Lineup, Underwear Aims for Holidays

Who knew socks could be hip?

Great Far East Adds in Airport Area on Colton Plaza Buy

REAL ESTATE: Two offices not part of talks on teardowns for apartments

Great Far East Inc.—a local commercial real estate investor with funding from China—has bought a portion of the Colton Plaza office campus that is next to John Wayne Airport.

Vinny’s Latest Play: Croatian Soccer Team

SPORTS: Deal includes 10,000-seat stadium on Adriatic coast

Vinny Smith has added a professional soccer club to the growing list of investments he’s compiled since netting some $800 million on a $2.8 billion sale of Quest Software three years ago.

Fringe to Frontline: Deals Add Up Near Tustin Legacy

Developers Eye Sites Next to Former Air Station

This month’s opening of the 375-home Greenwood project near Jamboree Road and the District at Tustin Legacy shopping center marks another notable chapter in the redevelopment of the nearly 1,500-acre former military site.

CNBC Anchor Gives Plug; Gross Gets Laughs; Hoss on Way

Brian Sullivan is no relation, but he must have a great mind—because the co-anchor of CNBC’s daily Power Lunch program and the Insider think alike.

Ingram Micro HQ Complex Changes Hands

REAL ESTATE: Likely fetches $40M-plus from local buyer

The Santa Ana office complex that holds the soon-to-be former headquarters of Ingram Micro Inc. has traded hands.

Travel Groups Gain Ground on Middle East Push

TOURISM: Five media outlets eat, play, film in Orange County

The Orange County Visitors Association is hosting five Middle East media outlets this month and in July that plan to produce broadcast and written accounts of the area in newspapers, magazines, and a 13-week television series.

Denti-Cal Concerns Cited in Job Cuts

HEALTHCARE: Western Dental trims 237, closes 13 offices

Orange-based Western Dental Services Inc. has laid off 237 workers as it attempts to deal with a shift in its business wrought by healthcare reform.

Sears Store Doesn’t Make Cut on LH Mall Makeover

RETAIL: Latest plans call for apartments on retailer’s old space

The old Sears store at Laguna Hills Mall will be razed to make way for the property’s transformation into Five Lagunas, an open-air center with apartments alongside retail, dining and entertainment venues.

Pacific Wave to Canada Company

Pacific Wave Systems Inc., a microwave component manufacturer in Garden Grove, fetched $20.1 million in a sale to Canada-based telecom systems manufacturer Com Dev International Ltd.

Incipio Buys iPad Keyboard Case Maker

Incipio Technologies Inc. in Irvine acquired ClamCase LLC, a Michigan-based designer and manufacturer of keyboard cases for the iPad family of tablets, on undisclosed terms.

Taco Bell Signs India Franchise Deal

Irvine-based Taco Bell Corp. signed a deal to open its first franchised restaurant in India, according to news reports overseas.

Women-Owned Businesses Wanted for Business Journal’s Annual List

Special report: Focus of July 6 edition

Is your company women-owned? The Business Journal wants to hear from you.

PHILANTHROPY

Over 400 guests participated on May 16 in one of Pacific Symphony’s most successful galas to date, Celebrating Carl St. Clair’s 25 Years in Orange County.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 24

Disneyland Resort pumps more than $5.7 billion into Southern California’s economy each year through its payroll, state and local taxes, and area spending by resort visitors, according to a study commissioned by Walt Disney Parks and Resorts.

Eye Care Industry Stars Alight Upon Orange County

Companies’ Life Stages Among Summit’s Topics

Orange County is known as a cradle of the eye device and drug industries, and some of its more prominent figures are gathering here this week to talk “trends, unmet clinical needs, and new business opportunities.”

Taco Bell Charity Leverages Chain’s Marketing Voice

Ad Agency Helps Teen Foundation Pro Bono

The Taco Bell Foundation cashed in on the social media influence of Irvine-based sponsor Taco Bell Corp. to launch its first marketing campaign—Recognize Potential.

Super-Secure Mobile Network Debuts in Beta Trial

Result of ‘Fishbowl’ Project Done With NSA

An Irvine-based startup that collaborated with the National Security Agency for years to develop a private mobile network has released what it calls “the world’s most secure cellphone service.”

Real Estate Deals

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

Michigan-based Charles J. Long Trust sold a medical office building in Laguna Hills to Horwin Investment LLC for $5.9 million, or $239 per square foot.

Mixed Q1 for South OC Industrial Market

The South Orange County industrial market had a mixed first quarter, but its outlook is positive.

Packing House Adds to PRES Portfolio in North OC

Yorba Linda Purchase Estimated at $32 Million

Irvine-based real estate investor PRES Cos. has made another large acquisition in North Orange County.

Smaller Projects Help Construction Firms Post Growth

Jobs, Backlogs Up Despite Few Mega Local Deals

Orange County’s largest commercial construction companies had solid growth in revenue, jobs, and work backlogs last year, despite a relatively small number of mega projects to call their own.

OC Developers Double Down on Openings, Backlog

2 Million Square Feet Finished, Most Here Since 2008

Orange County’s top commercial developers nearly doubled the number of completed projects in the region in the past year while pushing their backlog of active projects to a level not reached since the last real estate boom.

Friday, June 12

Midday Stock Roundup

The S&P 500 was down 0.7% to 2,095.16.

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Advantage Buy Expands Global Reach

Advantage Sales and Marketing LLC said it has made an investment in Smollan Group in Johannesburg, South Africa, on undisclosed terms.

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El Pollo Loco Plans Six More in Utah

Costa Mesa-based El Pollo Loco Holdings Inc.’s signed its system’s largest franchisee to open six restaurants in Utah by 2018.

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Thursday, June 11

NuGene Disavows Stock Mailer

Shares in Irvine-based NuGene International Inc. fell 39% Thursday to $2.61 and a market capitalization of $103 million after the skincare products development company said yesterday that it had no affiliation with a 28-page mailer touting the stock, but the stock recovered some ground Friday morning.

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Irvine Firm to Makes Games for Oculus Rift

Irvine-based video game designer Ready at Dawn will be among the first companies to partner with Oculus VR Inc. on new gaming titles for the highly anticipated Oculus Rift headset that was unveiled today in San Francisco.

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Katz, Marshack Join Greenberg Gross

Business litigators Michael Katz and Adrianne Marshack have joined trial law firm Greenberg Gross LLP in Costa Mesa.

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Four Hospitals Change Their Names

The four Orange County hospitals owned by Santa Ana-based Integrated Healthcare Holdings Inc. have changed their names.

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Midday Stock Roundup

The S&P 500 was up 0.3% to 2,111.03.

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Tech Hub Plans 100 Internships

Irvine-based technology non-profit The Portal plans to create 100 internships this year for college students to work in local startups and other businesses.

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Wednesday, June 10

Midday Stock Roundup

Stock indices were higher on news that Germany may consider participating in aid to Greece.

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Tuesday, June 9

Midday Stock Roundup

The S&P 500 was up 0.2% to 2,083.12.

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$20.1M for Garden Grove Manufacturer

Pacific Wave Systems, Inc. a microwave component manufacturer in Garden Grove, fetched $20.1 million in a sale to Canada-based telecom systems manufacturer COM DEV International Ltd.

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Quiksilver Down on Quarterly

Shares of Quiksilver Inc. fell 38% to 77 cents and a market value of $131 million Tuesday, after it reported a dip in revenue for the second quarter and pulled guidance for the rest of fiscal 2015.

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Incipio Adds Tablet Keyboard Case Maker

Incipio Technologies Inc. in Irvine has acquired ClamCase LLC, a Michigan-based designer and manufacturer of keyboard cases for the iPad family of tablets.

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Preferred Hotels Names Executives

Newport Beach-based Preferred Hotels & Resorts promoted four people to a senior executive team, which includes three new positions.

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Monday, June 8

Midday Stock Roundup

The S&P 500 was down 0.5% to 2,082.75.

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Anna’s Linens Said to be Near BK

Costa Mesa-based Anna’s Linens Inc. is preparing to file for bankruptcy, the Wall Street Journal reported.

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Opus COO Exits

Opus Bank’s chief operating office has resigned after about two years working at the Irvine-based bank.

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Taco Bell Signs Franchisee in India

Irvine-based Taco Bell Corp. is set to open its first franchised restaurants in India, according to several news reports.

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Irvine Co. Expands on Wellness Center Concept in NB

REAL ESTATE: Plans medical office, fitness center

The Irvine Company plans to build a fitness, wellness and healthcare facility in space it owns at the current site of a 24 Hour Fitness gym next to Fashion Island.

Quiksilver Director Out, Cites Exclusion

A director of Huntington Beach-based Quiksilver Inc. resigned from the apparel maker and retailer’s board, contending she was excluded from the body’s decision making.

Apparel Maker Bought by Korean Firm

Fountain Valley-based skate apparel and footwear maker One Distribution was acquired by K-Swiss Global Brands on undisclosed terms.

Boot Barn to Acquire Kansas Retailer

Boot Barn Holdings Inc. announced an agreement to buy western apparel and footwear retailer Sheplers Inc. for $147 million.

Kingston Technology Sells Unit in China

Fountain Valley-based Kingston Technology Co. sold a subsidiary to Shenzhen Kaifa Technology Co. in China.

Schwartz Joins Business Journal

MEDIA: Will cover manufacturing, other sectors

Kate Schwartz has joined the Orange County Business Journal as a reporter and will cover manufacturing, as well as architects and engineers; commodities; government; nonprofits; and trade and logistics.

Coastal Homes Get Close to List Prices in Recent Deals

Corona del Mar Sales Have Best Showing in 90 Days

A number of sales in Orange County’s coastal communities over the past 90 days nearly met the homes’ actual list prices, according to Realtor.com and Redfin data.

ADDENDUM

General Atlantic in New York said it acquired a majority stake in Irvine-based Too Faced Cosmetics from Weston Presidio for an undisclosed amount. The deal is estimated at $500 million, according to Women’s Wear Daily.

Device Maker Names Chief Executive

Irvine-based JenaValve Technology Inc. named Victoria Carr-Brendel its chief executive, replacing Jan Keltjens, the company’s chairman, who had served as interim chief executive since January.

EDITOR’S NOTE:

Every year, the Business Journal makes its best effort to compile a list of the local offices of banks and lenders, in addition to investment banks. A few changes this year include 1st Enterprise Bank now operating as California United Bank since its merger on Nov. 30. Previously listed Independence Bank was acquired by Pacific Premier Bancorp Inc. on Jan. 27.

Ex-Allergan Exec to Cannabis Drug Firm

Douglas Ingram, former president of drugmaker Allergan Inc., joined the board of Costa Mesa-based startup Nemus Bioscience Inc. in the newly created role of vice chairman.

Kia's Online Hola!

Automaker Hopes to Ride Telemundo’s Web Series to Sales Boost

Some 20% of new vehicles in the U.S. are sold to Latino-Americans, and Kia Motors America Inc. wants to be a household name in the fast-growing segment of the car market.

CT Realty Buys Palm Terrace Offices in Lake Forest

3-Building Campus Holds Del Taco Headquarters

A three-building office complex in Lake Forest that holds the headquarters of Del Taco Holdings Inc. has been sold to a local investment group.

Broadcom Sale Points Up OC Role in Consolidation

2nd Recent Buy Here for Avago Technologies

Orange County has become fertile ground for the chip sector’s ongoing consolidation in the past few years, highlighted by Broadcom Corp.’s record-setting $37 billion sale to Avago Technologies Ltd.

Volcom Goes For Rocker-Inspired Women’s Line

Pieces Conceived With Singer’s Wardrobe in Mind

Volcom Inc. in Costa Mesa has turned to the singer of indie rock band Grouplove to design its latest women’s collection.

HCP Loads Up For Purchases, Including Senior Homes

Part of $750M Offering To Pay for 35-Building Buy

Irvine-based HCP Inc. recently made plans to sell $750 million in senior unsecured notes with an eye toward using the proceeds to fund more deals.

R&D Market Tight in First Quarter

The research and development market in Orange County had negative absorption of 67,428 square feet in the first quarter as the market remained tight and competitive.

real estate deals

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

Sabadia Family Limited Partnership sold an industrial building in Yorba Linda to JSAC LLC for $2.2 million, or about $158 per square foot.

calendar

Last year’s Women in Business Awards: Orange County Business Journal’s annual event takes place this year at Hotel Irvine on June 23

Gross Says Give It Up for Machine

Donation to Smithsonian Recognizes ‘Critical’ Tool of Finance Industry

Bill Gross didn’t invent the Bloomberg terminal.

Nicholas: Broadcom Sale Ticket to ‘Next Level’

TECHNOLOGY: Lauds Avago boss Tan, eyes Intel’s crown

Broadcom Corp. cofounder Henry Nicholas has high hopes for the chipmaker as it heads toward the new leadership and financial muscle expected to come with a proposed $37 billion sale to Avago Technologies Ltd.

PE Firms Establish Niches in Quest for Portfolio Growth

At least 8 Active OC Firms Chart Their Own Courses

Orange County’s private equity scene covers a wide range of industries and market segments, a reflection of the diversity in characteristics and specialties of the investment firms here.

Healthy-Food Trend Sparks Small-Business Growth

FOOD: ‘Pythons,’ worms feed vertical vegetables

Orange County businesses are bringing locally grown fruits and vegetables to consumers who are showing growing desire to eat healthier food.

Vans to Put Brand on South Coast Metro

REAL ESTATE: 180,000-SF office comes with 15 extra acres

An affiliate of apparel company Vans Inc. is under contract to buy the 1588 South Coast Drive office building in Costa Mesa.

More Deals, Smaller Checks on Local VC Landscape

100% Hike in Dollar Volume, 60% Increase Last Year

The biggest venture capital firms in Orange County continued to increase their investments in local companies, though the pace of growth slowed compared with a year earlier.

Will Allergan Cuts Resound in China? Holte’s High-Rise Act

Jinsong Ni isn’t too worried about the pink slip he got from Allergan last week, perhaps because he has a PhD in chemistry and years of experience on the nonclinical side of the drugmaker’s R&D—the sort of early-stage investments it pledged to cut at its Irvine HQ amid a hostile takeover bid by Valeant last year.

Place in HomeKit Adds to Insteon’s Momentum

TECHNOLOGY: Gets nod on Apple’s hub for connected home

Irvine-based Insteon is among the first companies handpicked by Apple Inc. for the initial lineup of its much-anticipated HomeKit, which offers consumers a selection of services for connected home devices.

Register, Others Look to Fill PennySaver Void

MEDIA: Former workforce, advertisers up for grabs

Competitors are extending welcome mats to clients once loyal to PennySaver USA LLC and its former sales staff, as the free Brea-based weekly ad publication wraps up its fate in bankruptcy court.

Advantage Buy Starts Digital Division

MARKETING: One-time vendor now basis of push on big data

Advantage Sales & Marketing LLC in Irvine got started on plans for a digital technology division with the acquisition of Bentonville, Ark.-based Atlas Technology Group Inc. on undisclosed terms.

Friday, June 5

Taco Bell Signs Franchisee in India

Irvine-based Taco Bell Corp. has signed a deal to open its first franchised restaurant in India, according to news reports overseas.

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Biolase Jumps on CEO Comments

Irvine-based Biolase Inc.’s shares soared today after it said it was unaware of any fundamental reason for the recent decline in its stock price.

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Midday Stock Roundup

The S&P 500 was flat at 2.096.20.

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$272M Follows Gross to Janus

A London-based insurance group has shifted the management of its $272 million fund from Pacific Investment Management Co. to Bill Gross.

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Report Puts Too Faced Sale at $500M

General Atlantic in New York said it acquired a majority stake in Irvine-based Too Faced Cosmetics from Weston Presidio for an undisclosed amount.

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Thursday, June 4

Plochocki to Retire From Quality Systems

Irvine-based healthcare software maker Quality Systems Inc. said today that Chief Executive Steven Plochocki will retire effective June 30.

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Experian Names CIO

Experian PLC has hired Barry Libenson as chief information officer, a newly created position for the global information services company, whose North American business is headquartered in Costa Mesa.

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Midday Stock Roundup

Stock indices were down on losses in European markets and concerns about debt talks in Greece.

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Wednesday, June 3

Quiksilver Director Cites Freeze-Out in Resignation

A director of Huntington Beach-based Quiksilver Inc. has resigned from the apparel maker and retailer’s board, contending she was excluded from the body’s decision making.

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Alliant Buys Crop Insurance Specialist

Newport Beach-based Alliant Insurance Services Inc. has acquired crop insurance specialist Mary Roach Insurance Agency Inc.

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Midday Stock Roundup

The S&P 500 was up 0.2% to 2,114.18.

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Kingston Sells Chinese Unit

Fountain Valley-based Kingston Technology Co. has sold a subsidiary to Shenzhen Kaifa Technology Co. Ltd. in China.

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Tuesday, June 2

Irvine-Based Heart Valve Maker Names New CEO

Irvine-based JenaValve Technology Inc. said today that Victoria Carr-Brendel is the company’s new chief executive.

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Ups, Downs on May Sales for OC Auto Brands

Two of the four Orange County-based automakers beat the national sales pace for new vehicles in May, according to New Jersey-based market researcher Autodata Corp.

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Midday Stock Roundup

The S&P 500 was up 0.2% to $2,116.19 in midday trading.

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Confie in 3 Buys

Huntington Beach-based Confie Seguros has acquired three brokerages in New York and Texas.

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K-Swiss Buys FV-Based Brands

Fountain Valley-based skate apparel and footwear maker One Distribution has been acquired by K-Swiss Global Brands on undisclosed terms.

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Monday, June 1

K-Swiss Buys FV-Based Brands

Fountain Valley-based skate apparel and footwear maker One Distribution has been acquired by K-Swiss Global Brands on undisclosed terms.

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Boot Barn to Buy Kansas Retailer

Shares of Boot Barn Holdings Inc. in Irvine rose 10.6% to $27 and a market value of $695 million after it announced an agreement to buy western apparel and footwear retailer Sheplers Inc. for $147 million.

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Pimco Communications Chief to eBay

eBay Inc. has tapped the global head of corporate communications for Pacific Investment Management Co. as its chief communications officer.

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Midday Stock Roundup

The S&P 500 was up 0.3% to 2,114.49

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Ex-Allergan President Gets Board Seat

Douglas Ingram, former president of drug maker Allergan Inc., has joined the board of Costa Mesa-based startup Nemus Bioscience Inc. in the newly created role of vice chairman.

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Slapfish to Add Three in OC

Fountain Valley-based Slapfish Franchise LLC plans to add three franchised OC locations of the fast-casual seafood restaurant chain to the four it has opened or planned here.

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New Home Co. Cofounder Davis Stepping Down

Joe Davis, chief investment officer and cofounder of The New Home Co., is stepping down from the Aliso Viejo-based homebuilder.

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MicroVention Building New HQ in Aliso Viejo

MicroVention Inc., a Tustin-based developer, manufacturer and marketer of neuroendovascular technologies, said it will be building a large new office in Aliso Viejo for its new headquarters.

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Olen Adds 2 Arizona Complexes to Rental Portfolio

Buys One Mesa Complex, Another Deal on the Way

Olen Properties Corp. is making a $78 million investment in Arizona’s multifamily market.

Office, Industrial Markets Remain Tight in Q1

There were approximately 1.2 million square feet of industrial space under construction at the end of the first quarter.

Behr’s New Agency Gets ‘Emotional’ With DIYers

New Ads Target Painters and Their Muses

Paint maker Behr Process Corp. in Santa Ana is counting on a new marketing campaign to help it establish an “emotional connection” with consumers.

Hoag-USC Cancer Alliance Adds Melanoma Program

Patients to Have Access To Advanced Clinical Trials

Hoag Memorial Hospital Presbyterian and the University of Southern California’s 19-month-old alliance for cancer treatment continues to branch out in new directions.

OCBJ Calendar

May 25-June 3, 2015

This week's business and other event listings.

Luxury Buyers Seek Second Homes on OC’s Coast

Drawn Through Vacations, Easy Flight Paths to OC

The demand for second homes is rising all along Orange County’s coast, say some top area real estate specialists, driven principally by luxury buyers seeking an ideal second or even third home that also serves as a solid investment.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 21

Frost Data Capital, a San Juan Capistrano-based investment firm and startup incubator, joined other venture investors to back Maana, a developer of big-data search engine technology.

Taylor Morrison Buys Pacifica San Juan Site

REAL ESTATE: 194 acres could hold small, estate lots

A venture that includes Scottsdale, Ariz.-based Taylor Morrison Home Corp. has bought the stalled Pacifica San Juan home development in San Juan Capistrano.

Restaurant Chain Sponsors Indy Driver

Wienerschnitzel said it would sponsor race car driver J.R. Hildebrand in the Indianapolis 500.

Apex Acquires New Jersey Water Park

Apex Parks Group, an Aliso Viejo-based owner and operator of leisure parks, acquired Sahara Sam’s Oasis Indoor and Outdoor Water Park in New Jersey on undisclosed terms.

Masimo Wins Court Battle Over Patent

Irvine-based Masimo Corp. said last week that a federal court in Delaware upheld a $467 million jury verdict in its favor against a pair of Royal Philips Electronics NV’s units for patent infringement.

Telogis Raises $25M in New VC Round

Aliso Viejo-based Telogis Inc. raised another $25 million in venture capital funding, according to a filing with the Securities and Exchange Commission.

SwimSpot Gets Permanent Place in Raj Manufacturing’s Roster

RETAIL: Grows from online, pop-ups to brick-and-mortar

SwimSpot Holdings started out five years ago as the retail arm of Tustin-based Raj Manufacturing LLC.

Pac Merc Expands Hollywood Niche

FINANCE: Beverly Hills-based unit lends to A-list movies

Costa Mesa-based Pacific Mercantile Bank has ramped up its entertainment financing business, an area that has become a key contributor to growth as the bank sharpens its focus on commercial lending.

Fairhaven Memorial in Santa Ana to Dallas Buyer

REAL ESTATE: Deal includes 2 other funeral homes in area

Fairhaven Memorial Park and Mortuary in Santa Ana—one of Orange County’s largest and oldest cemeteries—has been sold to one of the country’s biggest providers of funeral services.

Office Sale Gives Offshore Trend Korean Flavor

REAL ESTATE: New owners add to ethnic enclave here

One of the larger multitenant office complexes in Buena Park has traded hands in the latest notable Orange County commercial real estate deal involving investors from Asia.

Julia Passes Torch on Philanthropy; Dukes Back in Business

Count on Julia Argyros to gently move the needle on a subject that’s prompted a lot of sideline chatter ever since Henry Segerstrom passed away in February: Who’s in line to take the torch from the remarkable group of entrepreneurs who have driven OC’s philanthropy over the past half century?

Hueston Trustee in Morgan Drexen BK

LAW: Shift to Chapter 11 brings on trial lawyer for reorganization

The Office of the U.S. Trustee has appointed trial lawyer John Hueston as trustee of the Chapter 11 bankruptcy case of Costa Mesa-based Morgan Drexen Inc., which has been converted from Chapter 7 liquidation.

Broadcom To-Do List: Keep Name, Shed CEO, Bring Nicholas Back

TECHNOLOGY: Cuts expected, but Irvine campus still in works

Change will start at the top at Irvine-based Broadcom Corp. when a $37 billion sale to fellow chipmaker Avago Technologies Ltd. is poised to usher out longtime Chief Executive Scott McGregor and bring cofounder Henry Nicholas back to the company’s fold.

Military-Industrial Progress

Apparel Brand Finds Stuff for Special Forces, First Responders Works for Blue-Collar Guys

David Unter is a numbers man, and the opportunity to join 5.11 Tactical in Irvine as chief financial officer late last year added up on paper.

Apparel Makers’ Workforce Levels Flat From Year Ago

51 Biggest Based in OC Employed 10,000-Plus Here

The 51 largest apparel companies based in Orange County employed a local workforce of 10,148, according to this week’s Business Journal list. 

No Tenants, No Problem as Quintana Draws Buyer

REAL ESTATE: Scarce area office campus with empty space

One of the few large office campuses near John Wayne Airport with a significant amount of vacancy is up for sale and expected to draw plenty of interest from investors looking to take advantage of Orange County’s improving office market.

Feeding the Stem of Science

Innovative Nonprofit Effort Seeks to Inspire Middle Schoolers, Attracts Support of Like-Minded Firms

A group of eighth graders broke free from the classroom one afternoon last month, taking several plastic chairs with them.

CenturyLink Tests Power-Saving Tech at Irvine Facility

Fuel Cells Save Electricity, Lower Data Center Costs

Monroe, La.-based CenturyLink Inc., one of the largest data-center builders and operators in the U.S., is testing a new fuel cell technology at its Irvine operation that could lead to significant cost savings in the capital-intensive sector while freeing up power on the taxed electrical power grid run by Southern California Edison and other energy providers.

Real Estate Deals

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

Glabman Partnership sold a retail building in Costa Mesa to the Soderstrom Family Trust for $6.2 million, or $153.75 per square foot.