Stories for June 2016

Thursday, June 30

$3M, More Mission for UCI Institute

University of California-Irvine’s Long Institute has received close to $3 million from the Long Family Foundation to expand interdisciplinary China research.

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Cannabis Science to Irvine

Cannabis Science Inc. moved its corporate headquarters to Irvine from Colorado Springs, Colo.

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Coastal SoCal Magazine on Horizon

Firebrand Media LLC in Laguna Beach will launch Pacific Coast magazine in September to cover the “iconic West Coast lifestyle” from Baja to British Columbia, according to Chief Executive Steve Zepezauer.

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Midday Stock Roundup

The S&P 500 was up 0.9% in midday trading to 2,090.03.

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Drybar Sells Stake to Atlanta PE Firm

Drybar Holdings LLC in Irvine sold a minority stake to Roark Capital Group, an Atlanta-based private equity firm, for an undisclosed amount.

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JWA Traffic Up in May

John Wayne Airport had nearly 950,000 passengers in May—up 13% compared with the same month last year, when about 840,000 passengers passed through its gates.

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Concert Golf Buys Wichita Club

Concert Golf Partners in Newport Beach bought Crestview Country Club in Wichita, Kan., on undisclosed terms.

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Wednesday, June 29

Ingram Slashes Jobs in Texas

Irvine-based Ingram Micro Inc. is cutting more than 900 workers at a wireless device repair and distribution center in Fort Worth, Texas.

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China-Based Hotel Buyer in GG Resort Deal

SCG America has been named to develop the Grove District Hotel Resort Development, a stalled 5-acre resort with up to 769 rooms and 39,000 square feet of meeting space in Garden Grove, a press release said.

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Saddleback Memorial CEO Retires

Fountain Valley-based MemorialCare Health System said today that Steve Geidt is retiring as chief executive of Saddleback Memorial Medical Center in Laguna Hills, effective in September.

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Ex-Freedom Exec Spitz to Mercury

Eric Spitz, the former president and chairman of Freedom Communications, has opened an Orange County office for New York-based Mercury, a public relations firm known for work in politics and public affairs.

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NB Firm in $10B VW Settlement

Newport Beach-based law firm MLG Automotive Law reached a $10 billion settlement from Volkswagen Tuesday on behalf of clients in a national, class-action lawsuit, according to lead attorney Jonathan Michaels.

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Midday Stock Roundup

Indexes climbed strongly in midday trading for a second consecutive day following two days of steep declines.

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Kodiak to Buy Into OC Brewery

Kodiak Capital Group LLC in Newport Beach has agreed to buy up to $1 million in common stock of Evans Brewing Co. in Irvine.

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Tuesday, June 28

HB Tourism Strong in 2015

Visit Huntington Beach reported a strong year for tourism and hotels in the city for 2015.

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Sfeir to Chapman’s Anderson Center

Chapman University appointed Raymond Sfeir as the new director of the A. Gary Anderson Center for Economic Research, effective immediately.

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Visit HB to Market ‘Soul of SoCal’

Visit Huntington Beach plans to promote Surf City USA under the phrase, ‘The Soul of SoCal.’

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Chapman: Slower Growth Ahead for OC

A report released this afternoon by Chapman University in Orange indicates a softening of economic and employment growth in Orange County.

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Midday Stock Roundup

Indexes rebounded in midday trading after two trading sessions of declines following the U.K. vote to leave the European Union.

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Monday, June 27

UCI, Harvard Renew Partnership

University of California- Irvine said today it and the Harvard Pilgrim Health Care Institute will receive up to $6.7 million in renewed federal funding to help improve patient safety in healthcare settings.

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Slapfish Plans 50 Sites

Slapfish LLC plans franchised locations in six states.

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Midday Stock Roundup

Indexes were down in midday trading on continuing fallout from the United Kingdom’s “Brexit” vote to leave the European Union and European stock market declines.

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Knott’s Eyes Land for Parking

Knott’s Berry Farm in Buena Park plans to buy 1.1 acres for $250,000 as part of a $5 million expansion of its Soak City water park by May 2017.

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Action-Sports Retailer to Trim Jobs

Australia-based SurfStitch Group Ltd. said it plans to eliminate 40 positions at Irvine-based subsidiary SurfStitch USA Inc.

Italian With Drive to Cook Realizes Food Lover’s Dream

Family Ties, European Training Fuse at The Ranch

It’s part of my job to watch what a lot of chefs are doing. Some, of course, are more impressive than others. Watching a fine chef open a restaurant and keep on doing his job so well that the public, year after year, continues to embrace the concept and the food makes for a great candidate for Chef of the Year.

Top Restaurant Chains Post 8% Gain, $16.4B in Sales

Big 5 Strengthen Positions; 8 Newcomers on List

Orange County-based restaurant chains continued to grow in the past year, reaching $16.4 billion in revenue, a hike of about 8% from a year ago.

Statpedia Launches Online Chart-Building Enterprise

Connects Users With Stats Through Google Images

A startup that offers a new way to build charts online has officially launched.

Western Growers Moves HQ in Irvine Following Sale

Zion’s $8.2M Buy Comes With Plans for Nonprofits

Western Growers Association, a trade association that represents farmers in California, Arizona and Colorado, has sold its Irvine headquarters near John Wayne Airport and relocated to another spot in the city.

Real Estate Deals

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

Transportation planning and engineering services firm DKS Associates Inc. signed a 39 month lease at 2401 E. Katella Ave. in Anaheim.

Reduced OC Contingent at E3 Reflects Industry Shift

Games on Go, Other Event Limit Local Attendance

Orange County video game makers were uncharacteristically absent from the recently concluded annual Electronic Entertainment Expo at the Los Angeles Convention Center.

Central, North OC Office Market Space Tightens in Q1

The Central and North Orange County office submarkets have traditionally followed trends in the Greater Airport Area and South Orange County office submarkets in terms of vacancy, average asking lease rates, and absorption of space, and this year is proving to be no different.

OCBJ Calendar

June 27-July 6, 2016; July 10, 2016

This week's business and other event listings.

DC Shoes Back to Catching Waves With Surf Team

Reinstates Sponsorship To Go With Skate Event

DC Shoes reinstated its surf team after a three-year hiatus. The footwear and apparel brand, owned by Quiksilver Inc. in Huntington Beach, will sponsor four athletes: Bruce Irons and Ezekiel Lau from Hawaii, Kanoa Igarashi from Huntington Beach, and Leo Fioravanti from Rome.

Innovator on New Path With Nitroglycerine Drugmaker

Pham Intends to Maximize Value of Tried Treatments

Pharmaceutical entrepreneur Quang X. Pham, who made his name at Orange County-based startups in the 2000s, is back on the scene with a new company, Espero Pharmaceuticals Inc.

Dream Backyards Shift With Summer Trends’ Breezes

Popular Features Include Water Walls, Sunken Patios

Orange County’s flawless summer days invite relaxation, and some of its luxury backyards boast features on par with five-star resorts, begging the question: “Why would anyone need to leave home to go on vacation?”

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 26

Karma Automotive LLC, the Costa Mesa-based manufacturer of luxury electric hybrid plug-in vehicles, hired Dennis Dougherty as president and chief operations officer, a new position.

Telogis and Verizon Map a Future: Where to Next?

TECHNOLOGY: Logistics software maker buy may top $1B

Telogis Inc. last week ranked 110th out of 118 firms on the Business Journal’s list of largest OC-based private companies, with about $111 million in revenue last year.

Pieology Buys Pizza Chain Competitor

Rancho Santa Margarita-based Pieology Pizzeria bought competitor Carlsbad-based Project Pie. Both are fast-casual, build-your-own pizza chains.

St. Joseph Combo Gets Preliminary OK

California Attorney General Kamala Harris conditionally consented to Irvine-based St. Joseph Health’s proposed affiliation with Providence Health and Services.

Family-Owned Businesses Celebrated

Five Orange County companies were honored at the Business Journal’s 17th Family Owned Business Awards luncheon at Hotel Irvine last Tuesday.

DNC Hires Irvine Firm to Help Stop Intelligence Hack

TECHNOLOGY: CrowdStrike in demand to thwart cyberattacks

CrowdStrike Inc. has been hired by the Democratic National Committee to halt a breach carried out by intelligence hackers from Russia, according to the Irvine-based security software maker.

Monster’s New Drinks Take Aim at PepsiCo

Monster Beverage Corp. in Corona will debut two drinks this year in new categories that line up against a main competitor.

Off-the-Grid Project to Help Power Park Place

REAL ESTATE: Capacity for equivalent of 1,300 homes

The latest upgrade to the Park Place mixed-use campus in Irvine is taking place behind the scenes, and in clean-energy jargon, behind the meter.

Pyott’s Coach; OC in DTLA; Higby’s Early Path to Power

David Pyott hasn’t been the boss of Allergan for more than a year, but events conspire to keep him in the public eye.

Generation or More Proves Eateries’ Recipes Timeless

Survivors Mix Consistency, Warmth to Stay at the Table

I did not realize until I started researching for this mini-tome that we had so many restaurants that have endured for at least 25 years in Orange County. I’d been to some of these in the reasonable past, but not all, so I was a busy gal catching up on the status of the others.

Italian With Drive to Cook Realizes Food Lover’s Dream

Family Ties, European Training Fuse at The Ranch

It’s part of my job to watch what a lot of chefs are doing. Some, of course, are more impressive than others. Watching a fine chef open a restaurant and keep on doing his job so well that the public, year after year, continues to embrace the concept and the food makes for a great candidate for Chef of the Year.

PacSun Likely To Drop About 25% Of Its Stores

APPAREL: Poor-performing shops targeted post-bankruptcy

Pacific Sunwear of California Inc. is likely to emerge from bankruptcy with about 450 stores, 25% fewer than it had prior to its Chapter 11 filing, said Ivan Friedman, founder and chief executive of RCS Real Estate Advisors in New York, which is handling lease negotiations for the Anaheim-based retailer.

Ex-Allergan Chief Offers Another View of Valeant

HEALTHCARE: Pyott says it should’ve pursued more buys itself

David Pyott says he would have done a few things differently leading up to his ultimately successful attempt to beat back a hostile takeover attempt of Allergan Inc. about two years ago.

Big Data as Startup Material

18 Companies Thrive Under Frost’s Banner in South OC

Frost Data Capital is like a modern mining company.

Olson Goes to Hollywood

Aims to Follow Paséa, Spectrum Marriott With Art Deco Entry in LA

A 21-story, art deco-inspired hotel planned for the heart of Hollywood marks the latest chapter in R.D. Olson Development’s recent push into the high end of the hospitality market.

Friday, June 24

Midday Stock Roundup

Markets declined sharply in midday trading following the United Kingdom’s vote to leave the European Union.

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Microsemi Invests in SJC Startup

Microsemi Corp. invested in Veracity Security Intelligence.

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NB Biotech Gets $7.5M

Newport Beach-based Blueprint Bio Inc. has received $7.5 million in Series A funding.

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Incipio Bids $177M for Skullcandy

Incipio LLC, an Irvine-based maker of cell phone cases and other mobile device accessories, has bid $177M for Skullcandy Inc.

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Thursday, June 23

PHG in Deals for AC Irvine, Tempe

An affiliate of Irvine’s Pacific Hospitality Group is in deals for two AC Hotels—a 176-room property currently under construction at the Park Place mixed-use campus near John Wayne Airport and a recently opened location in Tempe, Ariz.—from Woodbine Development Corp. and USAA.

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Irvine Bank Joins Russell 2000 Index

Irvine-based bank First Foundation Inc. will become part of the Russell 2000 Index on Monday morning.

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Ubiquity Names CTO

Irvine-based technology-focused media company Ubiquity Inc. appointed Jonathan Kalbfeld as chief technology officer, effective July 18, replacing Kristain Sandburg.

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Midday Stock Roundup

Indexes were up in midday trading as European markets closed higher yesterday ahead of the U.K.’s vote today on European Union membership.

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FivePoint to Sponsor Concert Venue’s Last Season

FivePoint Holdings in Aliso Viejo said it will sponsor the final concert series at Irvine Meadows Amphitheater and is also exploring building an amphitheater on the south end of the Orange County Great Park in Irvine.

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Wednesday, June 22

AG Grants Conditional Consent to Providence-St. Joseph Combination

California Attorney General Kamala Harris has conditionally consented to Irvine-based St. Joseph Health’s proposed affiliation with Providence Health and Services.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,090.81.

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Verizon to Buy Telogis

Verizon Communications Inc. will buy Aliso Viejo-based Telogis Inc. on undisclosed terms.

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Pieology Buys Competitor

Rancho Santa Margarita-based Pieology Pizzeria bought competitor Carlsbad-based Project Pie.

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Tuesday, June 21

Verizon to Buy Telogis

Verizon Communications Inc. will buy Aliso Viejo-based Telogis Inc. on undisclosed terms.

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Family-Owned Firms Feted

About 390 people attended the Business Journal’s 17th Family Owned Business Awards luncheon at Hotel Irvine on Tuesday.

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Irvine Software Maker Sold

Irvine-based data management software maker Vision Solutions Inc. has been sold to private equity firm Clearlake Capital Group L.P. in Santa Monica.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,085.60.

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Karma Fills New Exec Post

Karma Automotive LLC, the Costa Mesa-based manufacturer of luxury electric hybrid plug-in vehicles, hired Dennis Dougherty as president and chief operations officer, a new position.

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MemorialCare Teams With Boeing for Health Plan

Fountain Valley-based MemorialCare Health System said today it would work with Boeing Co. to create a customized health plan for the aerospace company’s employees and dependents in Orange County, Long Beach and the South Bay area of Los Angeles County.

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SurfStitch Trims in Irvine

Australia-based SurfStitch Group Ltd. said it plans to eliminate 40 positions at Irvine-based subsidiary SurfStitch USA Inc.

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Monday, June 20

Midday Stock Roundup

Indices were up in midday trading on news the United Kingdom looked more likely to remain in the European Union.

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PacSun BK Auction Canceled

The bankruptcy auction for assets of Pacific Sunwear of California Inc. in Anaheim has been canceled, with San Francisco-based private equity firm Golden Gate Capital now set to acquire all of the retailer’s assets.

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Dana Point DMO to Hire Chief

Visit Dana Point plans to hire an executive director by summer’s-end, according to Board Chairman Jim Samuels, general manager of Laguna Cliffs Marriott Resort & Spa.

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El Pollo Loco Signs Tucson Franchisee

Costa Mesa-based El Pollo Loco Holdings Inc. signed PLM Restaurants LC in Ogden, Utah to open six new sites in Tucson, Ariz., by August 2019, and to buy the chain’s two existing company-owned sites there.

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Arbonne’s New Ambition

Leaner Firm Goes Global for Growth

Arbonne International LLC is living up to its name.

Private Cos. Set Pace on Job Gains

Increase for Largest Here Surpasses State, Nation; Revenue Up 9.1%

Call it a Triple Crown: The largest Orange County-based private companies combined to post impressive increases in revenue, as well as local and company employment, Business Journal research shows.

Doti Just Missed This List

Local Bid for Register Parent Came Late; ‘Would Have Been Spectacular’

They weren’t a dollar short, but they were a day late.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 25

The Association of California Cities-Orange County honored the University of California-Irvine with a Golden Hub of Innovation award for its “Fifty for 50 Campus Challenge: A Celebration of Community Engagement at UCI.”

PHILANTHROPY

Microsemi Corp. partnered with Discovery Cube for the company’s Corporate Cube Challenge on May 19, a first-of-its-kind fundraiser that took in $250,000.

PacMerc Will Join Benchmark Index

Costa Mesa-based Pacific Mercantile Bancorp will join the Russell 3000 Index after the market opens on June 27. The Russell US indexes change annually to include the 4,000 largest U.S. stocks by market capitalization at the end of May.

Samuelis Give $10M To UCLA Engineering

The Samueli Foundation in Corona del Mar gave $10 million to the Henry Samueli School of Engineering and Applied Sciences at University of California-Los Angeles.

Women-Owned Businesses Wanted for Annual List

Special report: Focus of July 4 edition

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

Huntington Beach Chamber Names Head

James O’Callaghan was named president and chief executive of the Huntington Beach Chamber of Commerce, effective July 11.

UCI Appoints Permanent Research Leader

University of California-Irvine named Pramod Khargonekar vice chancellor for research, effective June 30. He replaces James Hicks, who was interim vice chancellor of research for about a year.

Fountain Valley Gear Maker in NBA Deal

Fountain Valley-based United Sports Brands’ Shock Doctor was named the official mouth guard of the National Basketball Association, Women’s National Basketball Association, NBA Development League and USA Basketball.

QLogic to Go to Silicon Valley Firm for $1B

Aliso Viejo-based networking products maker QLogic Corp. said it will be acquired for about $1 billion by Silicon Valley chipmaker Cavium Inc.

Irvine Developer Gets 133 Acres in LA Industrial Belt

REAL ESTATE: Estimates put Goodman Birtcher buy at $240M

Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County, including a property just over the county line in Santa Fe Springs, in one of the largest industrial acquisitions in Southern California in recent memory.

Top Oakley Execs Continue Exodus

APPAREL: Parent Luxottica tightens grip in Foothill Ranch

A trio of top executives have joined an exodus from Oakley Inc. as Italy-based parent Luxottica Group SPA looks to streamline operations at One Icon in Foothill Ranch.

Golden State Foods HQ Office Up for Sale, Again

REAL ESTATE: Would be 6th Sale of Office Since ’06

An Irvine office tower that holds the headquarters of Golden State Foods Corp. and other tenants is up for sale again in one of the largest transactions anticipated this year in the John Wayne Airport-area market.

KBS Doubles Down on 1,375-Acre Project in Vegas

REAL ESTATE: Buys out co-investor’s 46% stake

A 2011 investment in the Las Vegas land development market by an affiliate of KBS Realty Advisors appears to be paying off for the Newport Beach-based company, although a recent add-on deal indicates that land prices in the gambling mecca remain well below peak levels.

175-Room Hotel Plan Adds to Anaheim Backlog

Site Next to Pumbaa Lot Among 10 Now in Works

You can add another name to the increasingly crowded list of proposed hotel developments in the area around Disneyland Resort in Anaheim.

Real Estate Deals

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

The Pasadena Royale Apartments in Tustin was sold as an off-market transaction for $3.2 million, or about $287,091 per unit.

Brea Aerospace Supplier Matches Up With Giants

AEROSPACE: Kapco buy in Netherlands brings global scale

Kapco Global’s acquisition of Avio-Diepen in the Netherlands has positioned the Brea-based company to better compete against the distribution units of aerospace giants Boeing Co. and Airbus Group SE.

How Much for Sears at SCP? Kudos Galore

Have to wonder how much longer Sears will remain at South Coast Plaza, where its 300,000-square-foot store is now among the properties the once-colossal retailer has put up for sale or lease …

Some Local Firms Take Advantage of Important Stage

Private Red Herring Event Opp for High-Potentials

A handful of OC tech companies presented their stories to interested investors and executives across the country at a recent invite-only conference in Newport Beach.

South OC Industrial Market Posts Strong Q1

The combined South Orange County industrial market recorded 49,674 square feet of positive net absorption in the first quarter.

OCBJ Calendar

June 20-29, 2016

This week's business and other event listings.

Toll Roads System Picks New Agency to Draw Users

Replaces Everything LA With DB&M Media

DB&M Media Inc. in Costa Mesa will replace EverythingLA on a marketing contract with the San Joaquin Hills and Foothill/Eastern Transportation Corridor Agencies after the Irvine-based incumbent’s three-year deal expires June 30.

Stem Cell Therapies Firm Founder Terms It Distinct

Uses Cell Secretions, Bypassing Hurdles

Irvine-based AiVita Biomedical Inc., the latest creation of local stem cell entrepreneur Hans Keirstead, is working to set itself apart from other companies in the field that have struggled.

The Portal Nabs Cisco as Client, Calls Self 1-Stop Shop

Nonprofit Aims to Keep ‘Talent’ in Orange County

A nonprofit in Irvine that links students to companies that need web developers recently nabbed a big client. The Portal now boasts the Irvine branch of San Jose-based Cisco Systems Inc. as a customer.

China Gives Box Office Boost to Movie Based On Blizzard Game

MEDIA: Domestic opener tame by comparison to $150M take over there

The movie based on Blizzard Entertainment Inc.’s franchise fantasy game could be on its way to becoming Hollywood’s biggest hit in China.

Friday, June 17

El Pollo Loco Signs Tucson Franchisee

Costa Mesa-based El Pollo Loco Holdings Inc. signed PLM Restaurants LC in Ogden, Utah to open six new sites in Tucson, Ariz., by August 2019, and to buy the chain’s two existing company-owned sites there.

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Dana Point DMO to Hire Chief

Visit Dana Point plans to hire an executive director by summer’s-end, according to Board Chairman Jim Samuels, general manager of Laguna Cliffs Marriott Resort & Spa.

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Rehab Hospital Opens in Aliso Viejo

AAC Holdings Inc. said today it opened Laguna Treatment Hospital in Aliso Viejo.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,070.73.

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OC Unemployment Down Again

Orange County’s unemployment rate was down to 3.6% in May from a revised 3.9% in April as employers added 11,700 jobs.

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Thursday, June 16

Cuts at PIMCO

Newport Beach-based asset management firm Pacific Investment Management Co. has cut 68 jobs, or about 3% of its 2,300 workers companywide.

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Payoff Raises $47 Million

Costa Mesa-based consumer financial services firm Payoff has raised about $47 million from 56 investors in a round expected to raise about $65 million, according to a Securities and Exchange Commission document.

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Ad Agency Adds Exec

Huntington Beach-based Grupo Gallegos created a new management post to be shared between an in-house executive and a new hire, effective July 18.

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Johnny Rockets Gets 1st Drive-Thru

Lake Forest-based restaurant chain Johnny Rockets Group Inc. opened its first-ever drive-thru, a franchised location in North Carolina.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,068.45.

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New CEO for Battery Maker

Former Broadcom Corp. executive Robert Rango has been named chief executive of Irvine-based battery maker Enevate Corp.

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Wednesday, June 15

Goodman Birtcher Gets 133 Acres

Irvine-based developer Goodman Birtcher has bought a pair of massive distribution centers in Los Angeles County.

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QLogic Sold for $1B

Shares of Aliso Viejo-based networking equipment maker QLogic Corp. rose 10% after the company said it would be acquired for about $1 billion by Silicon Valley chipmaker Cavium Inc.

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Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,080.29.

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Newport Beach PE Firm Buys in NY

Newport Beach-based private equity firm Kodiak Capital Group LLC has agreed to purchase $2 million in stock in Burn Entertainment Corporation, a New York media entertainment company that focuses on cannabis.

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PacMerc Joins Index

Costa Mesa-based Pacific Mercantile Bancorp will join the Russell 3000 Index after the market opens on June 27.

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Tuesday, June 14

Samuelis Give $10M to UCLA

The Samueli Foundation in Corona del Mar has given $10 million to the Henry Samueli School of Engineering and Applied Sciences at University of California-Los Angeles.

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Terumo Buys Aliso Device Maker

Aliso Viejo-based Sequent Medical Inc. has been acquired for $280 million by Japan’s Terumo Corp.

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Midday Stock Roundup

The S&P 500 was down 0.5% in midday trading to 2,069.00.

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Auto Dealer Insurer Names CEO

Irvine-based automobile-dealership insurer SouthWest Dealer Services named Vernon Leake as chief executive officer.

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Pacific Mercantile’s COO Resigns

Costa Mesa-based Pacific Mercantile Bancorp Inc. said that Chief Operating Officer Bob Sjogren has resigned and will leave the holding company, the bank and subsidiary PM Asset Resolution Inc. on June 17.

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UCI Honored for Off-Campus Work

The Association of California Cities-Orange County recently honored the University of California-Irvine with a Golden Hub of Innovation award for its “Fifty for 50 Campus Challenge: A Celebration of Community Engagement at UCI.”

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HB Chamber Taps New Chief

James O’Callaghan will be the new president and chief executive of the Huntington Beach Chamber of Commerce, effective July 11.

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Monday, June 13

NBA Deal for FV Gear Maker

Fountain Valley-based United Sports Brands’ Shock Doctor has been named the official mouthguard of the National Basketball Association, Women’s National Basketball Association, NBA Development League and USA Basketball.

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Digital First Names Group News Chief

Tom Bray, managing editor for the Press-Enterprise, has been named managing editor of news for the entire Southern California News Group.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,087.93.

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Argyroses Pledge $2.5M to Theater

George and Julianne Argyros plan to give $2.5 million to a theater in Julia’s hometown of Adrian, Mich., according to a newspaper there.

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National Honors For 2 OC Ad Shops

Two local ad agencies picked up top national honors at the annual American Advertising Awards, held last week during the American Advertising Federation’s ADMERICA Conference in Anaheim.

Real Estate Deals

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

Kwikcash Inc. sold an office building in Irvine to Gerayli LLC for $2.2 million, or about $448 per square foot.

Master Plan Morphs; Christ Cathedral Draws; Blanning’s CROC

Early take on Dan Young’s decision to step away from the Irvine Company: Donald Bren’s master plan continues to morph into something that increasingly looks like more of an operating company than a developer.

Montage Hotel in Baltimore Named

The Baltimore hotel Montage Hotels & Resorts will run under its Pendry brand has been named Sagamore Pendry Baltimore.

Cosmetics Maker Stretches to New Zealand

Arbonne International LLC in Irvine said it expanded its skincare, cosmetics and nutrition business to New Zealand as “a natural extension of our growth and success with Arbonne Australia,” Chief Executive Kay Zanotti said in a statement.

$81M Defense Contract to Manufacturer

Irvine-based N2 Imaging Systems LLC was awarded a five-year, $81 million Defense Department contract to develop and manufacture sniper scopes.

New OC Company Developing Cannabis-Based Drug

Compound Could Treat Chemo-Induced Pain

Douglas Ingram’s drug development work encompasses more than just Alzheimer’s disease, which his Irvine-based Chase Pharmaceutical Corp. focuses on.

Volcom’s New Ambassador Pick Stirs Brand’s Fans

Mick Jagger’s Daughter Considered Weak Choice

Volcom LLC, looking to shed its surf-only brand image, hired Georgia May Jagger, daughter of Mick Jagger and Jerry Hall to be the Costa Mesa-based footwear and apparel manufacturer’s new global brand ambassador.

Brunt of Western Digital Cuts Come in Silicon Valley

SanDisk, HGST to Bring About $1B in Savings

Western Digital Corp.’s massive integration of SanDisk Corp. and HGST already has led to more than 500 job cuts in the past month, and more are expected.

EON Puts $20 Million Into VR Center in Mexico

TECHNOLOGY: Education push includes augmented reality

Irvine-based software maker EON Reality Inc. hopes to keep its growth up by bringing virtual and augmented reality content to the masses through an aggressive international plan centered on education and awareness.

SF Investor Makes FV Complex 3rd Office Buy in OC

REAL ESTATE: Swift nabs 2 buildings next to Hyundai HQ

San Francisco-based real estate investor Swift Real Estate Partners has made its third acquisition in Orange County in as many years, getting a two-building office complex in Fountain Valley.

Homebuilder TRI Pointe Moves Local Division

HQ Staying at For-Sale Google Center Campus

Irvine-based homebuilder TRI Pointe Group Inc. is moving its Southern California division closer to some of the projects it has under way on the Irvine Ranch.

Slyde Handboards Gears Up for Summer Sales Tour

‘Shark Tank’ Investment, Beach Cleanup Lift Brand

A startup that created a brand of handboards, a one-handed surfboard that straps to a surfer’s hand for bodysurfing, started its summer tour over Memorial Day weekend.

Indies Rock

Hotel Owners Trade Big Brands for Local Focus

A range of Orange County hotels are declaring independence, testing the potential and limits of a hot hotel market and foregoing the regular business a brand can bring.

Surge of Hotel Development

More Than 7,000 Rooms Proposed in Four Cities

The four Orange County cities with the heaviest volume of hotel construction are seeing a divergence in the type of properties being built there and the sorts of guests the hotels will target.

New Name, Boss For Bank in Little Saigon

The former Saigon National Bank in Westminster appears to have made strides toward untangling its operations with a new owner and a new name.

Keirstead Buys Back In on Stem Cells

Orange County stem cell entrepreneur Hans Keirstead refers to his newly established biotechnology company as a “startup with mature assets.”

$100M Raise Points to Cybersecurity Niche

The $100 million raised by Cylance Inc. last week highlights the booming demand for software security needed to thwart malicious cyberattacks in the public and private sectors—and the growing appetite of venture capitalists to fund Orange County-based businesses that are taking on the challenge.

Anyone’s Guess As Young Rides Off Ranch

Let the guessing game begin as Dan Young gets set to step down from the Irvine Company.

Airport Area Industrial Market Marks Healthy Q1

The overall Greater Airport Area industrial real estate submarket performed well in the first quarter, and market fundamentals were strong.

Commercial Development at Highest Level Since ’07

Nearly 3M SF Completed; Projects Spread Across OC

Orange County’s top commercial real estate developers posted their most active year of completed projects in a decade with a variety of sizeable product types opening across the region over the year ended April 30.

OCBJ Calendar

June 13-22, 2016

This week's business and other event listings.

May Price-Per-Square-Foot Tops Year-Earlier Figure

Jumps 9%, With Balboa Peninsula Average Tops

Orange County’s luxury home market saw 25 transactions close between $4 million and $12 million last month, when the median price for a home along the coast was just under $6 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 24

Knott’s Berry Farm in Buena Park plans to open two new slide structures at its Knott’s Soak City water park next summer.

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

Special report: Focus of July 4 edition

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

Commercial Construction Up, Uncertainty on Horizon

Revenues Here Highest Since ’09, Backlog Down

Orange County’s largest commercial construction companies took in the most revenue since the Great Recession, although a shrinking backlog and ominous economic reports raise questions about the industry’s continued growth.

Blizzard Signs Deal With Facebook

Irvine-based Blizzard Entertainment Inc. announced a partnership with Facebook Inc. that aims to connect millions of gamers while boosting content on the world’s largest social network.

Friday, June 10

New Chancellor for Research at UCI

University of California-Irvine has named Pramod Khargonekar its vice chancellor for research, effective June 30.

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,098.54.

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Thursday, June 9

Young to Step Down at Irvine Company

Dan Young plans to step down from his executive position at Newport Beach-based Irvine Company at the end of the month.

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Ubiquity Restructures

Nicholas Mitsakos today was named interim chief executive of Irvine-based Ubiquity Inc. as part of its corporate restructuring.

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Knott’s Plans New Soak City Slides

Knott’s Berry Farm in Buena Park said it plans to begin building two new slide structures at its Knott’s Soak City water park and open them next summer.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,114.36.

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Wednesday, June 8

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,116.44.

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Cylance Raises $100M

Irvine-based security software maker Cylance Inc. has raised $100 million in a Series D funding round led by Blackstone Tactical Opportunities and Insight Venture Partners.

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Confie Buys in Calabasas

Huntington Beach-based insurance provider Confie acquired on undisclosed terms ExpressLink Inc. in Calabasas.

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Tuesday, June 7

Arbonne Stretches to New Zealand

Arbonne International LLC in Irvine said it expanded its skincare, cosmetics and nutrition business into New Zealand.

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Ubiquity to Spin Off Production Work

Irvine-based Ubiquity Inc., a technology-focused media company, will spin off its Ubiquity Studios.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,118.80.

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Alliant Buys Carwash Insurer

Newport Beach-based insurance broker Alliant Insurance Services acquired on undisclosed terms the Western Carwash Insurance Program in Sacramento.

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Monday, June 6

Sniper Scope Maker in $81M Contract

Irvine-based N2 Imaging Systems LLC has been awarded a five-year, $81 million Defense Department contract to develop and manufacture sniper scopes.

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Blizzard-Facebook Tie-In

Irvine-based Blizzard Entertainment Inc. today announced a partnership with Facebook Inc. that aims to connect millions of gamers while boosting content on the world’s largest social network.

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Pacific Premier Bancorp Names CFO

Irvine-based Pacific Premier Bancorp, Inc. named Ronald J. Nicolas, Jr., Chief Financial Officer of the company and the bank.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,107.74.

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PE Firm Sells Electronics Supplier

Newport Beach-based Windjammer Capital Investors, one of Orange County’s long-standing private equity firms, sold Irvine-based electronics components supplier Infinite RF Holdings Inc. on undisclosed terms to San Francisco-based private equity firm Genstar Capital.

Knott’s Hires Ex-Disneyland Executive

Jon Storbeck was named vice president and general manager at Knott’s Berry Farm in Buena Park.

Santa Ana College Names President

Linda Rose, currently president of Los Angeles Southwest College, will become Santa Ana College’s new president on July 18.

Software Maker Takes in $1.4 Million

San Juan Capistrano-based data-analysis software maker NarrativeWave Inc. received $1.4 million in new funding, bringing its cumulative amount raised to $2 million.

Angels Enlist Ad Agency Help

The Los Angeles Angels of Anaheim signed Santa Ana-based Amusement Park to create a campaign targeting “women and other groups typically outside the scope of MLB marketing.”

Burger Chain Plans OC Spots

Burger Boss LLC in Corona plans to open at least five corporate-owned locations in Orange County by year-end.

Fresh Eatery Arranges Its Plates in Agreeable Row

Ironwood Impresses With Unexpected Food, Facility

Ironwood in Laguna Hills opened only a month ago, and we have been busy introducing friends via word of mouth and by taking them there. It’s rare for me to keep wanting to return to the same restaurant—there are just too many places I need to try, and there’s only one of me. To say that Patrick and I are quite taken by Ironwood would certainly be an understatement, and we are enjoying our multiple visits a lot.

Allergan Gets Japanese Approval for New Botox Use

Drug Will Treat Crow’s Feet in Those Up to 65

A product developed by Allergan PLC’s medical aesthetics hub in Irvine has a new use in the fast-growing Japanese market.

Redone SCP Rolex Boutique Mimics Ocean’s Waves

2,100-SF Shop Opens With Exhibit on Grant Recipients

Rolex helped watch retailer Baron & Leeds celebrate the reopening of its 2,100-square-foot boutique at South Coast Plaza with a photo and video exhibit showcasing Rolex Awards for Enterprise recipients in the Costa Mesa-based shopping center’s Jewel Court.

Toshiba Chief Nominee Had Six-Year Tenure in OC

37-Year Company Vet Ran Medical Systems Unit

The executive in line to take over Toshiba Corp.’s struggling global operation and tarnished brand spent six years in Orange County leading a key U.S. unit based in Tustin during his long tenure with the Japanese conglomerate.

Steadfast a Record Maker with Music City Purchase

$110M Apartment Deal Tops for Nashville Region

An affiliate of Irvine-based Steadfast Cos. has bought a big apartment complex in the suburbs of Nashville, Tenn., in what local news reports say is the priciest multifamily deal the area has ever seen.

Chapman U. Incubator Ventures Into Show Business

Links Lawyers, Students For Entertainment Startups

Chapman University’s Leatherby Center for Entrepreneurship has expanded into entertainment. The shift at the incubator comes at the direction of Professor Judd Funk, a former entertainment lawyer who worked for several Hollywood studios and who teaches at Chapman’s law and film schools.

Real Estate Deals

Rival LLC sold an industrial building in Santa Ana to Minnie Chief Real Estate Investments for $1.2 million, or about $157 per square foot.

R&D Market Stays Tight in Q1

The Research and Development market in Orange County marked three consecutive quarters of negative net absorption in the first quarter, with 157,668 square feet.

calendar

June 6-15, 2016; June 21, 2016

• Studio SoCaL hosted by Rick Reiff and Elizabeth Espinosa (KOCE-TV/PBS SoCal), Friday 7 p.m., Repeats Sunday 5 p.m., Monday 5:30 p.m., Wednesday 5:30 p.m., Guests: TBA

ADDENDUM

Santa Fe Springs-based distributor USE Co. Inc. was sold on undisclosed terms to Ingersoll Rand in Davidson, N.C., and will operate in conjunction with a recently acquired business in Buena Park.

PHILANTHROPY

The arts and the art of leadership took center stage May 12 in the Samueli Theater at Segerstrom Center for the Arts in Costa Mesa at the fourth annual “The Mayor’s Celebration

DIRECTORY OF LENDERS

Every year, the Business Journal makes its best effort to compile a list of local banks and lenders, in addition to investment banks. Some changes this year include Orange County Business Bank, which now operates as HomeStreet Bank since its merger on Feb. 1. Among other changes: Previously listed Johnson Capital Group Inc. was acquired by Bethesda, Md.-based Walker & Dunlop on Nov. 3, 2014; CIT Group Inc. acquired OneWest Bank on Aug. 3, 2015 and now operates as OneWest Bank, a division of CIT Bank, N.A. First Security Business Bank closed its single branch in Orange; FBR & Co. and CW Financial Services LLC closed their offices in Irvine; and Holliday Fenoglio Fowler LP is now HFF LP.

Hybrid Investor Offers Back-Office Operations

Irvine-based Private Equity Firm Steps Into VC Realm

Irvine-based Lotus Innovations LLC is a hybrid private equity firm that focuses on emerging technology companies and provides back-office operations and staffers to its entrepreneurs, both rarities in the sector.

Tam, Twila Join Forces; Gross at Human Scale

We sure can pick ‘em: Tam Nguyen of Advance Beauty College was honored—along with his sister, Minh Nguyen—with one of the Business Journal’s Family Owned Business Awards in 2012.

Allergan Vet Brings Pharma Startup to OC

HEALTHCARE: Keys on talent pool fostered by former employer

Drug development startup Chase Pharmaceuticals Corp. is now being led from Irvine with a familiar face at the helm—Chief Executive Douglas Ingram, a former president of Allergan Inc.

Kia’s Court

Automaker’s Research Indicates NBA Ties Lift Brand

Kia Motors America Inc. is playing some impressive moves on the sponsorship court.

Inventory of Experts

Wing of UCI Incubator Roster Includes 400 ‘Experts-in-Residence’

Startup Flyt turned to Dan Jenkins when it needed a mentor.

Google Campus On Jamboree Leads OC Office Listings

REAL ESTATE: Some $1.3B worth of deals in pipeline amid rising rents

The five-building Irvine office campus that holds the local operations of Google Inc. and others is up for sale, headlining an Orange County office investment market that’s seeing its heaviest activity in over eight years.

Hot Start for New Home’s Latest in Newport Coast

REAL ESTATE: 12 of 55 luxe homes sold ahead of opening

Hefty price tags don’t appear to be stifling interest in the last big housing community slated for the Newport Coast community of Crystal Cove.

Palace Boss Adds Top Job at Parent Company in Spain

HOSPITALITY: Move came as Parques Reunidos prepped IPO

Palace Entertainment Holdings LLC President and Chief Executive Fernando Eiroa has taken on chief executive duties at its parent company.

Stance Socks Get Spot in MLB Lineup

San Clemente-based Stance Inc. now provides the official Major League Baseball sock.

Oculus Buttons Up Last Operations at Original HQ in Irvine

TECHNOLOGY: Software team will head to Silicon Valley

Oculus VR Inc., a trailblazer that put Orange County on the virtual reality map, has moved the last remnants of its local operation to Silicon Valley.

Top VC Firms Invest 35% Less in Local Companies

Toba New No. 1 After Versant, Ventana Exit OC

The most active venture capital firms with local headquarters or significant operations and ranked by amount invested in OC companies combined for about $56 million in 39 portfolio deals last year. That’s about 35% less money than the top VCs invested in 2014 in about the same number of completed local deals.

Sunday, June 5

Montage’s Pendry in Baltimore Named

The Baltimore hotel Montage Hotels & Resorts will run under its Pendry brand has been named Sagamore Pendry Baltimore.

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Friday, June 3

Kia, Hyundai Aid UCI Power Program

Irvine-based Kia Motors America Inc. and Chino-based Hyundai America Technical Center Inc. will work with the Advanced Power and Energy Program at University of California-Irvine.

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Rutan Launches New Practice Group

Costa Mesa-based Rutan & Tucker LLP created a public-private partnerships practice group, led by William Eliopoulos, its Silicon Valley-based construction partner.

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Data Analytics Company Launches

A Frost Data Capital data analytics startup officially launched today.

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New CEO for GPS Software Maker

Irvine-based Spireon Inc. today announced that Kevin Weiss was named chief executive and the company surpassed 3 million subscriptions for its GPS vehicle telematics software.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,096.99.

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Angels Ads Aim at Less Obvious Fans

The Los Angeles Angels of Anaheim signed Santa Ana-based Amusement Park to create a campaign targeting “women and other groups typically outside the scope of MLB marketing.”

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New Burger Restaurants for OC

Burger Boss LLC in Corona plans to open at least five corporate-owned locations in Orange County by year-end.

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Thursday, June 2

Broadcom Shares Up on Outlook

Shares of Broadcom Ltd. were up after the chipmaker announced adjusted profits in the May quarter that topped Wall Street expectations and gave a sales outlook for the current quarter.

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Midday Stock Roundup

The S&P 500 was flat in midday trading to 2,098.42.

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CareTrust Buys in Michigan

San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.

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Alorica to Double in Size

Irvine-based call center operator Alorica Inc. bought Expert Global Solutions in Plano, Texas, on undisclosed terms.

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Santa Fe Springs Distributor Sold

Santa Fe Springs-based distributor USE Co. Inc. has been sold on undisclosed terms to Ingersoll Rand in Davidson, N.C.

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Advantage Solutions Makes Buy

Irvine-based Advantage Solutions acquired ecommerce specialist Sage Tree LLC in Naperville, Ill. on undisclosed terms.

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OC Auto Brands Beat Sales Slowdown

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

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Wednesday, June 1

Santa Ana College President Named

Linda Rose, currently president of Los Angeles Southwest College, will be Santa Ana College’s new president, effective July 18.

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SJC Software Maker Gets $1.35M

San Juan Capistrano-based data-analysis software maker NarrativeWave Inc. has received $1.35 million in new funding, bringing its cumulative amount raised to $2 million.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,094.15.

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