Stories for July 2016

Friday, July 29

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,175.01.

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Carole King Set for Segerstrom Fundraiser

The Segerstrom Center for the Arts in Costa Mesa plans to mark its 30th anniversary with a fundraising concert headlined by Grammy Award-winner Carole King.

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Thursday, July 28

CM Law Firm Adds Specialty

Haynes and Boone in Costa Mesa has established an insurance recovery practice group with a new team led by Partner David Bender, Jr.

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WD Sales, Profits Down

Irvine-based Western Digital Corp. reported lower annual sales and adjusted profits.

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Irvine Fin-tech Firm Gets $7.5M

Internet-based mortgage lender cloudvirga Inc. in Irvine raised $7.5 million in Series A funding, led by Calabasas-based Dallas Capital. Santa Monica venture capital firm Upfront Ventures and angel investment club Tribeca Angels in New York participated in the round.

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Electronics Maker Makes Buy

Infinite RF Holdings Inc. in Irvine bought on undisclosed terms L-Com Inc., a maker of custom computer networking equipment in North Andover, Mass.

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Johnny Rockets Names New CEO

Lake Forest-based restaurant franchisor Johnny Rockets Group Inc. named John Maguire president and chief executive officer.

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Volcom Down in First 6 Months

Costa Mesa-based Volcom Inc. posted $121.8 million in revenue for the first half of 2016, a 14.9% decrease compared to the same period last year, according to Kering, its Paris-based parent.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,164.93.

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Wednesday, July 27

In-N-Out’s Snyder Honored

In-N-Out Burgers Inc. President Lynsi Snyder made a rare public appearance today at the Disneyland Hotel to pick up the 2016 Most Trustworthy Leader Award, while her Irvine–based company beat co-finalists Yard House USA Inc. in Irvine and BJ’s Restaurants Inc. in Huntington Beach for top honors in the restaurant chain category.

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OC Adds Most New Hotel Rooms

Orange County opened more new hotel rooms in the first six months of 2016 than any county in California but its future pace will give way to other areas, according to a recent report.

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Mazzo to German Device Maker

Jena, Germany-based Carl Zeiss Meditec AG said today that veteran Orange County medical device executive James Mazzo will be its new global president of ophthalmology.

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WD Leads VC Round

Irvine-based Western Digital Corp. co-led a $77 million funding round for a Redwood City startup with noted Silicon Valley venture capital firm Kleiner, Perkins, Caufield and Byers.

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MemorialCare Taps Finance Execs

Fountain Valley-based MemorialCare Health System appointed a pair of financial executives for its Orange County hospitals.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,165.26.

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First Chief for Dana Point DMO

Visit Dana Point named Sean Keliiholokai executive director, effective in mid-August.

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Tuesday, July 26

Edwards Beats on Q2

Irvine-based Edwards Lifesciences Corp. surpassed analysts' expectations on second-quarter revenue and profit and hiked its 2016 forecast in a report issued after markets closed today.

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Vizio in $2B Deal

Irvine-based Vizio Inc. has been acquired for $2 billion by LeEco, a conglomerate based in China.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,167.16.

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Taco Bell CEO to Harley Board

Taco Bell Chief Executive Brian Niccol has joined the board of directors at Harley-Davidson Inc., the maker of motorcycles in Milwaukee, Wis.

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Monday, July 25

Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,165.28.

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Apparel Company Gets Sullen Clothing

Contravisual Brands Group LLC acquired Los Alamitos-based Sullen Clothing Inc. on undisclosed terms.

Newport Beach-Based Startup Among First Wave to Try Title III

ECONOMY: Youngry to peddle equity to ‘unaccredited investors’

How’s this for apropos: A local startup that’s creating a website for startups is among the first in the U.S. using a new funding mechanism that gives everyday investors a chance to make early investments in private companies.

Best In Show

Top Firms Employ Perks From Pizza to Flex Time

Would you go bowling with your boss?

Orange-Based Lender Taps Star Power

Reverse-Mortgage Outfit Set for $60M Ad Budget

New TV ads from American Advisors Group are set to air next week, featuring actor Tom Selleck as the new face of the fast-growing reverse mortgage lender in Orange that posted just under $250 million in revenue last year.

Naps on the Go Just Got a Lot More Realistic, Comfy

Company Launches ‘Pods’ in Trailer at College

A new service is providing a way for people to take naps wherever they find themselves.

Real Estate Deals

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

ASEA Power Systems, a manufacturer of marine shore power converters, signed a five-year lease at 15282 Newsboy Circle in Huntington Beach.

Equipment Firm Hopes Seimens Deal Signals Turnaround

Ener-Core Grants Rights To Make, Sell Industrial Units

A new licensing and manufacturing deal with Dresser-Rand could bring profitability to Irvine-based Ener-Core Inc. after nearly a decade in the red.

Inland Empire Industrial Stays Hot in Q2

The Golden Age of the Inland Empire industrial market pushes on as major e-commerce players continue to absorb large blocks of industrial space.

Toll Brothers Aims Big for Orchard Hill Development

Plans for 223 Homes As Large as 6,085 SF

Toll Brothers Inc. is planning to build large on land it recently bought at the Orchard Hills community in Irvine, according to planning documents.

Toy Company Goes Pom-Pom Wild With Girls Brand

Pellets That Morph Into Poms Sold at Big Retailers

Taya Toys launched “Pom Pom Wow,” an arts-and-crafts brand for girls that’s supported by a “robust marketing plan including a television campaign, social media engagement, trendsetter outreach, experiential events, and a brand website offering product-driven experiences,” the Cypress-based company said.

Abbott Gets FDA OK on Intraocular Lens for Cataracts

One Version of Lens Also Approved for Astigmatism

Santa Ana-based Abbott Medical Optics, a unit of Abbott Laboratories in Chicago, scored a regulatory approval this month.

OCBJ Calendar

July 25-Aug. 3, 2016

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 30

Fullerton-based Marshall B. Ketchum University’s College of Pharmacy received precandidate status from the Accreditation Council for Pharmacy Education, authorizing the college’s first doctoral students to start in the fall.

Sale of Actress’ Home Might Have Set Record

Third Agent’s the Charm To Move Modern Mansion

The custom contemporary mansion at 331 Monarch Bay Drive in Dana Point sold on June 27 for $8.3 million, under its January $9 million list price.

How Companies Make Lists

The Business Journal’s Best Places to Work lists are the result of months of surveying workers and managers at local employers.

The ‘Why?’ Sets Wealth Management Firm Apart

Clients’ Peace of Mind On Money Unites Employees

Economists and financiers traditionally measure success by examining an organization’s income statement, balance sheets and cash flow statement.

Startup Buys Silicon Valley Company

Newport Beach-based startup Predictive Inc. acquired a Silicon Valley software maker developing advanced learning applications.

Workers Real Estate-Focused Firm’s Best Investment

Staff’s Interdependence Keeps Passco Healthy

Kendall Parisi, corporate designer at Passco Companies LLC, looked over the numerous stacks of marketing supplies, brochures, and trade show materials spread across the conference room table.

Innovation Institute Buys IT Company

The La Palma-based Innovation Institute bought Corona-based information technology specialist Hospitality Business Network Solutions for an undisclosed price.

Construction Firm Builds Culture With Camaraderie

Swinerton Staff Chip In Like Any Good Site Crew

They’ve been to conferences in Vegas, although they have yet to claim spots at the Black Jack table. They’ve been to Germany during Oktoberfest but abstained from indulging in that country’s most famous beverage. They’ve sat in on some of Swinerton Builders’ most important meetings, a noticeable, if silent, presence. The pair stands stoically, one man holding a set of building plans, the other his arm outstretched, pointing off into the distance.

Creditors Affiliate Buys Quantum Fuel

Lake Forest-based Quantum Fuel Systems Technologies was purchased by Douglas Acquisitions LLC, an affiliate of second-position secured creditors.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast? 

Former Asics Boss Looks to Future With Nostalgia Brand

APPAREL: Wulff, private equity team up for deal with adidas

Kevin Wulff is back in the game.

RIP: John O’Donnell, Seminal Industrial Developer

John O’Donnell, a pioneering Newport Beach real estate executive whose companies oversaw a massive industrial development push from Alaska to Mexico over a 40-year period, died last week.

RSI Communities Bigger in Texas

REAL ESTATE: Gets land for 780 homes in San Antonio

RSI Communities LLC has begun to ramp up land deals in preparation for a big homebuilding push outside California.

Rentals Go for $164M, Top Deal Since 2010

REAL ESTATE: 628 units to Raintree Partners, $260K each

Laguna Niguel-based apartment and mixed-use property owner and developer Raintree Partners has bought a rental complex in Tustin in what appears to be the priciest apartment deal in Orange County in nearly six years.

Hoag Expands on Claim in ‘Greater Irvine’ Area

HEALTHCARE: New center includes 4 institutes, urgent care

Hoag Memorial Hospital Presbyterian is making an aggressive push to deliver comprehensive healthcare services beyond its traditional base in Newport Beach and put a firm claim on a market it calls “Greater Irvine” through a large development there.

Turnaround Tag at PIMCO, Expansion Plans at PAAMCO

Sometimes the global financial media does math with words rather than numbers.

Friday, July 22

Glaukos CFO to Retire in 2017

Glaukos Corp. in Laguna Hills said Chief Financial Officer Richard Harrison will retire next year.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,172.44.

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Unemployment Up as Labor Force Grows

Orange County’s unemployment rate was up to 4.4% in June from a revised 3.6% in May, much of the increase caused by 0.8% growth in the local labor force to 1.61 million.

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Vans Sales Jump Headlines Parent’s Quarter

Vans Inc. revenue was up 4% in July quarter, according to its Greenboro, N.C.-based parent, VF Corp.

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Thursday, July 21

LA Fiduciary Adviser Invests in OC

Costa Mesa-based investment adviser New Market Wealth Management has a new equity owner in Cliffwater LLC, an investment adviser in Los Angeles.

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Ingram Sale Hits Bump

Ingram Micro Inc.’s pending $6 billion sale to Chinese conglomerate Tianjin Tianhai Investment Co. Ltd. has run into its first hurdle that could ultimately derail the deal.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,162.92.

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Quantum Fuel Bought

Lake Forest-based Quantum Fuel Systems Technologies Worldwide Inc. was purchased by Douglas Acquisitions LLC, an affiliate of second-position secured creditors.

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Wednesday, July 20

Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,174.41.

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TIAA Takes Pacific City Stake

Huntington Beach’s Pacific City shopping center has seen a change in ownership.

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PIMCO Names New CEO

Pacific Investment Management Co. in Newport Beach named Emmanuel “Manny” Roman its chief executive, replacing Douglas Hodge, who will become a managing director and senior adviser to the company.

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Innovation Institute Buys IT Company

The La Palma-based Innovation Institute said today that it has acquired Corona-based information technology specialist Hospitality Business Network Solutions. A purchase price was not disclosed.

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Tuesday, July 19

Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,159.13.

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Silicon Valley Software Maker to NB

Newport Beach-based startup Predictive Inc. has acquired a Silicon Valley software maker developing advanced learning applications.

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Monday, July 18

Pharmacy School Steps Toward Accreditation

Fullerton-based Marshall B. Ketchum University’s College of Pharmacy received precandidate status from the Accreditation Council for Pharmacy Education, authorizing the college’s first doctoral students to start in the fall.

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Opus Sells Coachella Location

Irvine-based Opus Bank agreed to sell its La Quinta branch in Coachella Valley to the Bank of Southern California headquartered in San Diego.

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Chicago Architecture Firm to OC

Oculus Architecture LTD has moved its headquarters to Costa Mesa from the Chicago suburb of Hickory Hills.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,166.42.

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Apparel Company Buys Firm

Contravisual Brands Group LLC acquired Los Alamitos-based Sullen Clothing Inc. on undisclosed terms.

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Agency Spreads Own Brand Around Globe

MARKETING: Links with London, Hong Kong shops for B2B work

BrandingBusiness helps companies in transition develop market strategies—the stories they tell to customers and employees. Now other agencies are taking note of the Irvine-based firm’s own brand proposition and adopting it as their nameplates.

Panattoni Puts New Anaheim Industrial Up for Sale

REAL ESTATE: Said to seek $200M for 7 buildings near 91

Panattoni Development Co. has put nearly a million square feet of its recently built industrial center in Anaheim on the sales block.

Trammell Crow Gets ‘Real’ With Boardwalk Plan

REAL ESTATE: 545,000 SF office takes shape on Jamboree

The largest office development planned for the market around John Wayne Airport in over a decade has moved from a concept to reality.

2 More Crossover Accounts for Gallegos

MARKETING: To craft ads for brewery, Hass Avocado Board

Grupo Gallegos defines itself as a “culturally attuned” ad shop—and its newest accounts support the contention.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast? 

6 OC Companies Added To Russell 3000 Index

Six Orange County-based businesses joined the Russell 3000 Index after a revision to its makeup last month.

Alliant Insurance Acquires Chicago Firm

Newport Beach-based Alliant Insurance Services acquired on undisclosed terms Mesirow Insurance Services, the insurance division of Mesirow Financial in Chicago.

Distributor Buys Firm’s Music Business

Alliance Entertainment Corp. said it bought the retail music distribution business of Plano, Texas-based Anderson Merchandisers in a deal that would push Alliance revenue above $1 billion. A purchase price wasn’t disclosed.

Innovation Institute Buys Maryland Firm

Innovation Institute LLC in La Palma acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md.

FivePoint’s Capital $B

Report by Main Investor Lennar Gives Perspective On Aliso Viejo-Based Developer’s Valuation

­­FivePoint Communities Inc. can safely join the ranks of Orange County’s billion-dollar companies in terms of its valuation.

PHILANTHROPY

More than 800 leaders of the Orange County legal community celebrated the Public Law Center’s 35 years of helping the county’s poorest and most vulnerable residents at Hotel Irvine on June 20.

VC in OC: Often Starts in Silicon Valley

STARTUPS: Observers say stronger deal flow needed here

Udi Dorner consulted Wikipedia when he needed a list of venture capital firms in Orange County. The managing partner of Irvine-based startup SetSchedule was looking to raise $3 million in venture funds for a Series A round for the technology and marketing startup that connects real estate agents with homeowners and buyers.

Software Consultant Focuses on Hot ‘Reality’ Services

‘Uber’ of Engineers For Virtual, Augmented Needs

A startup that’s capitalizing on the hot trend of virtual reality and augmented reality recently launched a service that provides software engineers who specialize in those areas.

CSUF Index Drops On Election-Year Uncertainty

ECONOMY: Brexit, Fed also factors in 3-year low

Orange County business owners have lowered their expectations for growth in the third quarter, a posture that appears likely to continue through the presidential election toward year-end, according to the California State University-Fullerton’s Orange County Business Expectations Survey.

Next Act for Cylance: Consumer Market

TECHNOLOGY: Citigroup among backers of cybersecurity specialist

One of Orange County’s fastest growing companies is crafting a strategy to claim new ground with a push into the consumer market.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 29

Two reports by University of California-Irvine researchers show most job growth in two decades in Southern California originated outside of central business districts.

Built Orange County Tilts Mod Again in Brutalist Surge

Office Buildings, Former Crystal Cathedral Get Treatments

Brutalism, a mid-20th-century architectural style, appears aggressive—even violent—but broke ground when Swiss architect Le Corbusier described the design look he sought: “béton brut” or “raw concrete.”

OCBJ Calendar

July 18-27, 2016

This week's business and other event listings.

Analysts Open Edwards Coverage With Neutral Rating

Caution High Valuation Could Suffer With Slip-Up

Edwards Lifesciences Corp.’s effort to create a “catheterized revolution” in heart valve treatment has landed it new institutional analyst coverage.

Apparel Maker Rocks Out in the Recording Studio

Altamont Adds Indie Punk Records to Its Lineup

Lake Forest-based Altamont recently added music producer to its duties as a skate apparel manufacturer—perhaps not a surprise for a label named after a 1960s rock festival.

High-Rise Office Market Healthy in Q1

The high-rise office market in Orange County ended the first quarter with steady demand, resulting in 402,030 square feet of positive net absorption.

OC-Rooted Software Makers Acquired Behind Scenes

Epicor Originally in Irvine, Dell Unit Came From Quest

Two software makers with deep roots in Orange County that helped develop the industry here quietly changed hands in private equity deals.

Real Estate Deals

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

The Law Office of David C. Stone signed a three-year lease extension at 300 S. Harbor Blvd. in Anaheim.

Invesco’s Aliso Holdings Top $200M With Latest Buy

UST Global Offices Sold By LBA for About $33M

Dallas-based institutional investor Invesco Real Estate has added another big office in Aliso Viejo to its portfolio, its third reported purchase in the city in a little over a year.

Emile, Larry Show 2 Sides; Stylish Symbol at Santa Ana College

The Orange County Forum served up humor, straight talk and useful insights at last week’s Housing Outlook 2016 at the Hilton Irvine, where FivePoint Communities CEO Emile Haddad and Larry Webb, his counterpart at New Home Co., joined the Business Journal’s Richard Reisman for a chat.

Sports Marketing Shop Goes Virtual on Giveaways

MARKETING: Golfsmith, Dave & Buster’s coupons yield data

Looking to take home a Rally Monkey or a Mike Trout bobblehead for your collection of baseball memorabilia?

Tenant-Improvement Work Tops $900 Million Here

30 Firms Do $909M In Work, Grow Revenue 16%

Orange County’s 30 largest tenant-improvement contractors continued to grow last year, combining for $909 million in local work.

Puri Appointed Interim CSUF Provost

Anil Puri, dean of Cal State University-Fullerton’s Mihaylo College of Business and Economics, was named interim provost and vice president for academic affairs, effective July 25.

Friday, July 15

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,159.24.

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Toba in $11M Series A Round

Vinny Smith’s Toba Capital in Newport Beach has led an $11 million Series A round for business software maker Grow.

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Thursday, July 14

Miller-Phipps Back in SoCal for Kaiser

Julie Miller-Phipps, former executive director of Kaiser Permanente’s Orange County service area, has been named president of the organization’s Southern California region, effective next month.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,159.93.

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Wednesday, July 13

NB & Co. Hotel Bookings Up

Newport Beach & Co. said it handled 18% of hotel room bookings in the city for its fiscal year 2016 that ended June 30, up from 15% of the city’s total in 2015.

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Innovation Institute Adds Exec Search

Innovation Institute LLC in La Palma has acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md.

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Anaheim Tax Break to Luxe Hotels

Walt Disney Co. in Burbank and affiliates of Hong Kong-based Wincome Group will divvy up $560 million in tax money to be reimbursed over 20 years for building three luxury hotels in Anaheim.

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El Pollo Loco Debuts Design in Dallas

Costa Mesa-based El Pollo Loco Holdings Inc. will debut new design elements for its restaurants when it enters the Dallas-Fort Worth market in August with two franchised locations.

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Rams to Summer at UCI

The Los Angeles Rams will hold the team’s annual summer training camp at University of California-Irvine for the next three years.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,151.84.

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Fastest-Growing Private Companies Wanted for Business Journal’s Annual List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast?

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Alliant Buys in Chicago

Newport Beach-based Alliant Insurance Services acquired on undisclosed terms Mesirow Insurance Services, the insurance division of Mesirow Financial in Chicago.

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Tuesday, July 12

More OC Jobs Beyond Downtown

Two reports by University of California-Irvine researchers show most job growth in two decades in Southern California has come outside of traditional downtown areas and central business districts.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,153.94,

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Monday, July 11

Puri Interim Provost at CSUF

Anil Puri, dean of Cal State University-Fullerton’s Mihaylo College of Business and Economics, has been named interim provost and vice president for academic affairs, effective July 25.

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CC District Seeks Chancellor

Debra Fitzsimons has been appointed acting chancellor for the South Orange County Community College District.

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Choreographer Joins UCI Arts School

International artistic director and choreographer Lar Lubovitch has joined the dance department at the University of California-Irvine’s Claire Trevor School of the Arts as a Distinguished Professor.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,141.04.

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Media Shipper to Top $1B in Revenue

Alliance Entertainment Corp. said it bought the retail music distribution business of Anderson Merchandisers in a deal that would push Alliance revenue above the $1 billion mark. A purchase price wasn’t disclosed.

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Sporting Goods Maker Buys Sector 9

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

System to Put $100M into Mental Health

The newly formed Providence St. Joseph Health said it’s launching a $100 million effort toward improving mental healthcare in communities it serves.

Younger McKnight Wants Own Niche

APPAREL: Cuater seeks new status for belts in men’s fashion

The son of Quicksilver founder Bob McKnight has launched an upscale belt maker targeting wearers of surf apparel.

Recapitalization, New Board for CalWest Bancorp

FINANCE: Some of $14M infusion to pay off TARP

Irvine-based CalWest Bancorp, the holding company for South County Bank N.A., has six new directors and $14 million in new capital as it looks to get back on a growth track.

Creative-Office Makeover Draws SpaceX Outpost

REAL ESTATE: Would-be pioneer seeks engineers here

Elon Musk’s SpaceX has touched down in Irvine.

More AC in Store

New PHG Fund Aims for Marriott’s Boutique Brand

The same $125 million fund that accounted for Irvine-based Pacific Hospitality Group’s recent commitment to buy the AC Hotel that’s rising in the Park Place mixed-used development, just a short hop from its headquarters, is aimed at adding another handful of the boutique brand properties as they roll out in the next few years.

Trout Turns Pitchman on Smart Bat

Angel Star Endorses Model With Data Sensor

Mike Trout is part of an effort to bring America’s Pastime into the age of data with the game’s first smart bat.

Martin Gets to Core of Community in Orange County, Inc.

UC-Irvine Librarian Lorelei Tanji hit upon a point that you’ll regularly find under the Business Journal’s front-page banner during her opening remarks to a crowd of about 300 who gathered at the Beckman Center last week to celebrate the debut of Chuck Martin’s coffee-table tome,

Management Consultants Continue Growth in OC

Local Employment Up 9%, Firmwide Staff Rises 19%

Orange County’s top management consulting firms experienced 9% growth to employ about 1,760 locally in the year ended June 30, many of them adding staffers.

Accounting Firms Expand for Fifth Consecutive Year

Boost Employment By 6%, Big Four Again Lead Pack

Orange County’s largest accounting firms combined to grow the industry’s local work force by 6% over the year through June for the fifth consecutive year of gains as the economy and business regulation expanded.

Real Estate Deals

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

Children’s Hospital of Orange County sold a two-story multifamily apartment complex in Orange to the Mary Elizabeth Shen Family LLC for $3.8 million, or about $254,333 per unit.

RMV Development Picks Six for Next Home Phase

4 OC-Based Builders In Mix for 522-Home Project

Rancho Mission Viejo LLC has announced the builders who will be selling the next set of homes at its massive development under way in South Orange County.

Execs of OC Tech Stalwart Strike Out on Their Own

Some See Better Breaks, Others Innovate on Own

Vast strategic and management changes and hundreds of local job cuts initiated over the past few years at Broadcom Corp. and more recently at Broadcom Ltd. are creating opportunities for former executives that ultimately could reshape Orange County’s technology landscape.

West OC Industrial Market Healthy in Q1

The West Orange County industrial submarket started off the year with 637,219 square feet of gross activity, resulting in 47,401 square feet of positive net absorption focused in the manufacturing and warehouse segment.

OCBJ Calendar

July 11-20, 2016

This week's business and other event listings.

Agency Says Win at Cannes One for Racial Awareness

Amusement Park Work On Video Gets It Lion Award

Amusement Park in Santa Ana won a Bronze Lion in the film craft category at the Cannes Lions International Festival of Creativity for its “use of original music” in a video promoting HARMAN International’s JBL brand of wireless speakers.

Masimo Gets OK for Device That Moves With Patient

Says Monitor Avoids False Readings of Past Products

The Food and Drug Administration closed out June with a pair of approvals for an established Orange County medical device maker and a startup.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 28

University of California-Irvine and the other schools in the UC system increased the number of California-based students they offered admission for the year starting in the fall.

Q&A

Numerous changes occur in the U.S. financial accounting and reporting standards each year, but only a handful affect every company—large or small, technology-based or traditional service providers— and one of those takes effect soon.

Appointments Sale Service Gets $2M for Platform

Helps Companies Make Cash on Unbooked Slots

A Newport Beach-based startup that helps small businesses book their unscheduled appointments during slow and off-peak periods just closed a $2 million-plus “Series Seed Preferred” round with preferred shares for investors that typically would be offered in a Series A raise.

Young’s New Venture Features Broad View of Big Projects

REAL ESTATE: Former Irvine Co. exec on to own deal with Camino

Dan Young plans to go big with his next development venture.

OC’s Luxury Market Heats Up in Summer Sunshine

32 Deals Top $4M In June; 2 Exceed $10M

Thirty-two home transactions above $4 million closed in June, including two that captured sales prices above $10 million.

Fintech Firm Brings Mercedes Tie To ‘Next Gen’ Campus

REAL ESTATE: 1st tenant at spec development takes 27,000 square feet

Irvine Company has landed a startup financial technology company with a brand-name backer as the first tenant at a pair of buildings the landlord is putting up at its Sand Canyon Business Center office campus.

MemorialCare Strategy Pays Off in Boeing Contract

HEALTHCARE: New service option for aerospace workers

MemorialCare Health System’s ongoing effort to diversify care delivery has reached a large Orange County employer with a tailored offering of services, and the Fountain Valley-based provider sees the possibility for similar deals in the future.

Heart Valve Maker Names Board Member

Irvine-based Edwards Lifesciences Corp., a maker of replacement heart valves and other cardiovascular devices, named Leslie Heisz to its board of directors, bringing it to nine members.

VR Content Maker Takes in $20 Million

Laguna Beach-based virtual reality content maker NextVR Inc. raised $20 million from CITIC Guoan Information Industry, a state-owned investment firm in China.

Friday, July 8

Midday Stock Roundup

Indexes were up strongly in midday trading on a better-than-expected jobs report.

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Pet Gear Maker Sold

Costa Mesa-based Precision Pet Products has been sold on undisclosed terms to Petmate in Arlington, Texas.

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JWA in Travel Mag Top 10

John Wayne Airport nabbed a top-10 ranking of domestic airports as chosen by readers of Travel & Leisure magazine—the only California airport on the list.

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Thursday, July 7

Confie Buys In NY

Huntington Beach-based insurance provider Confie acquired on undisclosed terms two insurance brokerages in New York: Lloyd D. Sprague & Son, Inc. and J.N. Mason Agency, Inc.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,095.39.

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WD Ups Targets, Promotes New CFO

Western Digital Corp. today raised its guidance for the current quarter and initiated an executive change.

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Wednesday, July 6

Marian Bergeson Dies

Marian Bergeson has died at age 90.

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,094.66.

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Providence St. Joseph in $100M Mental Health Effort

The newly formed Providence St. Joseph Health said today it is launching a $100 million effort toward improving mental healthcare in communities it serves.

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Tuesday, July 5

Edwards Names New Director

Irvine-based Edwards Lifesciences Corp. today named Leslie Heisz to its board of directors.

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Hoag to Perform Cancer Trials

Hoag Memorial Hospital Presbyterian’s Hoag Family Cancer Institute has launched a first-phase clinical trial program.

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Bravo Buys Skateboard Co.

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

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Midday Stock Roundup

The S&P 500 was down 0.9% in midday trading to 2,083.64.

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NextVR Raises $20M

Laguna Beach-based virtual reality content maker NextVR Inc. has raised $20 million from CITIC Guoan Information Industry, a state-owned investment firm in China.

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Perfect Roast

Portola Coffee Lab Grows Hobby Into Retail Chain

Coffee’s an accommodating beverage.

Dana Point Hotel Site to Chicago Buyer?

A prospective hotel developer has bought land near Coast Highway and Dana Point Harbor Drive that was the site of a defunct inn and a more recent failed attempt to develop a 250-room hotel.

Kia Tops Premium Peers on J.D. Power Ranking

1st Nonpremium Brand On Initial Quality List in Years

Kia Motors America Inc. in Irvine topped J.D. Power’s 2016 Initial Quality Study—the first nonpremium brand to do so in the past 27 years.

Toll’s Irvine Land Spree Continues in Orchard Hills

REAL ESTATE: Pays about $200M for nearly 161 acres

Toll Brothers Inc. has completed the purchase of a sizeable parcel of developable land at the Orchard Hills community in Irvine, adding to the company’s collection of high-end home sites in the city.

Pulido’s Pals; Doti’s Elbow Room; Witte’s Range

Anyone else notice former L.A. mayor, current Banc of California adviser and potential 2018 gubernatorial candidate Antonio Villaraigosa introduced Santa Ana Mayor Miguel Pulido at last week’s State of the City Address?

Lincoln Property’s Top OC Exec Starts Own Firm

REAL ESTATE: Plans initial focus on office, retail projects

Kevin Hayes, the head of Lincoln Property Co.’s sizeable Orange County operations, has left the Dallas-based real estate investor and developer to start his own firm.

Long Interest

How Ruffled Feathers Keep Markall, R.A. Industries on Move

When Santa Ana-based engineering firms Markall Inc. and R.A. Industries LLC received the Business Journal’s Longevity Award for Family-Owned Businesses, three generations of family members got the rare opportunity to partake in a group accomplishment.

Monday, July 4

One Word: Plastics

Fullerton Manufacturer Grows Into 3rd Generation

David Kietzke, the president and chief executive of Professional Plastics Inc. in Fullerton, never expected he would be in business for 32 years.

Provocative Ad Gets Presidential Race From All Angles

360fly Parodies Election Issue to Sell New Camera

An Aliso Viejo-based tech startup that created a single-lens camera to capture “stitchless” 360-degree video just aired a new and provocative national advertising campaign.

OC Firm with USC Ties Has Big Plans Near Campus

Trojan QB’s Firm Eyeing 3.3 Acres Near Stadium

Spectrum Group Real Estate, an Irvine-based real estate investment and development management firm whose execs have connections to the University of Southern California, is planning to build a sizeable mixed-use property not far from the school’s campus south of downtown Los Angeles.

Micro Greens, Mega Growth

Urban Produce to License Vertical Growing System

Urban Produce LLC has branched out—it’s started licensing its high-density vertical growing system in hopes the move will account for about 70% of its revenue within the next five years.

Upward Lift

‘Shark Tank’ Helps Slyde Handboards Catch an Investment Wave

When Steve Watts, founder of San Clemente-based Slyde Handboards, started dating Angela Ferendo, neither of them imagined that the personal relationship would evolve into a professional one. But she soon started helping him with small things, such as shipping and customer service. And he trusted her enough to hand over the company’s financial information, he said.

How Women Mean Business

Where Communication, Collaboration, Success Intersect

Michelle Jordan ventured across the Atlantic Ocean decades ago in pursuit of her personal version of the American dream.

Even More Of A Family Matter On Mariner’s Mile

REAL ESTATE: Duffy parcel now in Moshayedis’ Coast Highway portfolio

The biggest property owners in the Mariner’s Mile area of Newport Beach have added another notable—and pricey—waterfront site as they continue an effort to revamp the high-traffic area.

Global Specializes in Decommissioning U.S. Navy Vessels

Newport Beach-based defense contractor Global, A 1st Flagship Company has managed to place No. 23 among Orange County’s 110 largest women-owned businesses on the strength of a single client.

By the Sweat of Her Brow

Expansion in Irvine Done; Asia Growth Ongoing

Chief Executive Natalie Plain is looking for a “perfect partner” to help shape the future of her Billion Dollar Brows business.

Women-Owned Firms Turn Revenue Hike Into Big Job Gains

ECONOMY: Largest up 20% overall, 9.2% on local hires

Orange County’s biggest women-owned businesses generated more than $3.75 billion in revenue last year, a 7% annual increase and the sixth consecutive year of growth.

Real Estate Deals

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

Richard Ya Lee Trust sold an office building in Garden Grove to Nhan Hoa Comprehensive Clinic Inc. for $6.2 million, or about $232 per square foot.

Electronics Maker to Develop Apple Home Device

D-Link Wi-Fi Camera To Join HomeKit Products List

Fountain Valley-based D-Link Systems Inc. has its first product approved for Apple Inc.’s developing HomeKit platform, which offers a selection of services for connected-home devices.

Low-Rise Market Takes Positive Turn in Q1

Low-rise office buildings are a significant part of the office market in Orange County, accounting for over half—54,841,082 square feet—of the total office space.

OCBJ Calendar

July 4-13, 2016

This week's business and other event listings.

Innovation Institute Company Buys Fullerton Building

Realty Firm Aims to Grow St. Jude, Own Portfolio

A portfolio company of the La Palma-based Innovation Institute is making real estate moves.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 27

The U.S. Department of Education will forgive $171 million in debt owed by former Corinthian Colleges Inc. students, according to news reports.

PHILANTHROPY

Goodwill of Orange County opened its Thomas T. and Elizabeth C. Tierney Center for Veteran Services building in Tustin, an all-in-one resource for military veterans living in Orange County and their families.

Friday, July 1

Most OC Auto Brands Below U.S. Pace

One of four Orange County-based automakers exceeded the national sales pace for new vehicle sales in June, according to New Jersey-based market researcher Autodata Corp.

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New OC News Website To Launch

Los Angeles Times Community News, based in Fountain Valley, announced today that it will launch a website and email newsletter devoted to Orange County starting July 6.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,101.76.

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