Stories for January 2017

Tuesday, January 31

Nekter Expands to 3 New States

Nekter Juice Bar Inc. in Santa Ana has signed multi-unit franchise agreements to bring the food-and-smoothie chain into Utah, Washington and Florida—all new states for the chain.

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New President of Thurgood Marshall Bar

Denisha McKenzie is the president-elect of the Newport Beach-based Thurgood Marshall Bar Association.

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Boot Barn Misses on Revenue

Boot Barn Holdings Inc. reported mixed results for its December quarter, meeting Wall Street expectations on earnings but delivering below forecasts on revenue.

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Post-Recession Car Sales Boom Winds Down

Sales of new vehicles at Orange County auto dealers plateaued at 191,910 last year after notching considerable gains for the previous six years, according to the Orange County Automobile Dealers Association.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,272.26.

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Monday, January 30

PBS Station Work Lauded

PBS SoCal KOCE was awarded two Golden Mike Awards by the Radio & Television News Association of Southern California at the 67th Annual Golden Mike Awards Presentation Dinner on Saturday.

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Midday Stock Roundup

The S&P 500 was down 1% in midday trading to 2,272.34.

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Stowell to Chair Housing Charity

HomeAid America, a Newport Beach-based building industry charity, said CalAtlantic Group Inc. executive chairman Scott Stowell will lead its Board of Directors as Chairman for the next two years.

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Laguna Beach Outfit Looks to Cash In on Virtual Wall

MEDIA: Shell company takes new tack with acquisition

A Laguna Beach-based shell company has acquired a virtual reality developer that will give backers and opponents of President Donald Trump’s proposed wall along the U.S.-Mexico border a chance to purchase portions of a digital version of the edifice—and use the space to express their opinions.

Coastal Resorts Make Spas Part of Luxe Approach

Hotels Answer Meetings Guests’ Call for Pampering

Resorts and hotels along OC’s coast from Huntington Beach to Dana Point have spas, have rejuvenated them recently, or will add the amenity in the next year. Smaller coastal properties have added fitness areas and programs to emphasize health and wellness.

Incipio 2.0

Company Diversifies, Doubles Revenue, Seeks New Digs

Incipio is a Latin word that means “to begin.”

Real Estate Deals

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

MondayOne LLC sold a medical condominium in Newport Beach to Justin Daneshgar for $2.1 million, or $413 per square foot.

PacLife to Eliminate 140 Positions

Newport Beach-based Pacific Life Insurance Co. plans to lay off about 140 people in March. It said it intends the cuts to align costs against sales and assure it has the proper skills for growth.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 17

Is your workplace great?

Taylor-Dunn’s Anaheim Manufacturing Site Sold

REAL ESTATE: Deal follows sale of cart maker to Polaris

S&A Management LLC, one of Orange County’s largest privately held property owners, has added another notable investment in Anaheim to its portfolio.

Q&A

Event trends and popular movements in meetings and conventions can seem to appear out of nowhere—whether it’s rooftop amenities (see page 1), pop-up events (see page 21), or growth in spa, health, and fitness components (see page 19).

Will Western Digital Benefit From Toshiba’s Woes?

Could Bid on Chunk Of Flagging Firm’s Flash Biz

Speculation is building that Irvine-based Western Digital Corp. is in line to bid on a significant portion of Toshiba Corp.’s flash memory business as the Tokyo conglomerate faces staggering write-downs from its failing U.S. nuclear power business.

On California

Will High Housing Costs Bring Brain Drain?

When I joined the Chapman faculty as an assistant professor of economics 43 years ago, my starting salary was $12,500.

OC Hotels See Rare Increase in Meetings Space With 2 New Entrants

Paséa, Great Wolf Drive Climb to Over 1.3M SF

Two hotels that opened last year in Orange County added 55,000 square feet of meeting space to local inventory, enough to drive the Business Journal’s annual account of hotel meeting space above 1.3 million square feet.

Irvine Company Eyes For-Sale Homes in Silicon Valley

Plans Submitted for Tech Firm’s Sunnyvale Campus

Broadcom Ltd.’s current office campus at University Research Park in Irvine isn’t the only big Irvine Company-owned site in line for a revamp after being vacated by a semiconductor industry company.

OCBJ Calendar

Jan. 30-Feb. 8, 2017; Feb. 10, 2017

This week's business and other event listings.

Cold-Ship Specialist Grows Biotech Firm Account

Customer Needs Frozen Packs for Work in China

Irvine-based Cryoport Inc. will step up its shipping business with ProMab Biotechnologies Inc. in Richmond, Calif., a biotechnology company.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 40, No.5

Ad agency Grupo Gallegos in Huntington Beach rebranded itself as GALLEGOS United after buying two companies on undisclosed terms—New York-based digital agency Canvas and public relations shop RL Public Relations & Marketing in Los Angeles.

Business Journal Honors Five CFOs

Chief financial officers were honored in five categories on Jan. 25 at the Orange County Business Journal CFO of the Year awards, which drew a crowd of about 600 to Hotel Irvine.

Firm Hopes to Go Hyper in Wake of $320,000 Round

Q4 Ramp-Up Planned For Filter Technology Product

A technology company housed at an Irvine incubator closed a $320,000 seed round, bringing its total funds raised to more than $750,000, Chief Executive Behnam Analui said.

Ad Tech Firm Purchases Competitor

Viant Technology LLC in Irvine agreed to purchase Waltham, Mass.-based Adelphic on undisclosed terms.

About Our New Look; OC Star Power: Clinton Keys & Bridges

For Your Consideration: the update to our front-page design, which now is a bit more horizontal than vertical, with the banner at the top a tad leaner and cleaner.

Déjá Vu All Over Again for Kofax

TECHNOLOGY: Lexmark puts software operation on block

Reynolds Bish is back at the helm of the software company he positioned for a $1 billion sale to Lexington, Kentucky-based Lexmark International Inc. less than two years ago.

Ad Shop Pens Colorful Posts to Lift Pentel Following

Instagram Audience Triples As Funny Pieces Viewed

The Buddy Group employed humor to help Pentel of America Ltd. reach “the mainstream audience who doesn’t think twice about pens.”

Top 2016 Zip Codes for Luxury Home Listings, Sales

NB’s 92661 Has Highest Average Price at $6.5M

Orange County’s most expensive luxury homes, defined as being in the top 5% of the market, were found in the 92661 zip code last year, which includes Balboa Peninsula in Newport Beach.

FV Hospital Names Chief Executive

Fountain Valley Regional Hospital and Medical Center appointed Kenneth McFarland chief executive.

Sources Say Deal for Fairmont Close

HOSPITALITY: Group that got Irvine Hilton expected buyer

An investment group that recently bought the Hilton Irvine/Orange County Airport hotel on behalf of clients in China is close to making another big hotel purchase near the airport, according to hospitality industry sources.

Hotels Get Creative With ‘Temporary’ Event Spaces

Spots in the Pop-Up Style Crafted for Adventures

What’s with the old shipping container behind the Irvine Marriott?

Developers’ Residential Plans Getting Malled

REAL ESTATE: Apartments next to MainPlace latest example here

The new owners of an office building next to MainPlace Mall in Santa Ana have proposed building a 247-unit apartment complex on excess land at their property.

Up on Roof is Place to Be at Some Meeting Spots

Hotels, Others Take Full Advantage of the Outdoors

Grand Legacy at the Park in Anaheim has only about a 5,000-square-foot meeting space, but it’s a doozy.

Friday, January 27

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,293.37.

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Grupo Gallegos in Buys, Rebranding

Ad agency Grupo Gallegos in Huntington Beach rebranded itself as GALLEGOS United after buying two companies on undisclosed terms—a New York-based digital agency Canvas and public relations shop RL Public Relations & Marketing in Los Angeles.

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OC Resorts, Hotels Hit AAA List

Four Orange County resorts earned Automobile Club of Southern California’s AAA “Five Diamond Award” and 10 resorts and hotels earned AAA “Four Diamond” status for 2017.

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Thursday, January 26

Emerald Buys Home Tech Show

Emerald Expositions LLC in San Juan Capistrano acquired the CEDIA trade show from the Custom Electronics Design & Installation Association in Indianapolis, Ind., on undisclosed terms.

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Surfing Magazine Shut Down

TEN, short for The Enthusiast Network, has shut down Surfing Magazine to focus on its other surf publication, Surfer, according to news reports.

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Microsemi Sales Hit Marks

Aliso Viejo-based chipmaker Microsemi Corp. reported revenue in the December quarter in line with Wall Street expectations, and an adjusted profit that beat estimates.

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Hotel Development Stays Strong

Orange County has 11 hotels with 1,655 rooms under construction about on par overall with the seven hotels and 1,808 the market added last year.

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Snell Names Partner in Charge

Partner Ketan Vakil is the new head of the Orange County office of Snell & Wilmer LLP; he succeeds Bill O’Hare, who led the office for more than 20 years.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,295.14.

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Five CFOs Recognized

Executives were honored in five categories Wednesday night at the Orange County Business Journal CFO of the Year awards, which drew a crowd of about 600 to the Hotel Irvine.

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Executive Changes at Mazda

Mazda North American Operations has set the stage for a new generation of executives to join its senior management in Irvine.

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Retailer to Cut 148 Jobs

Irvine-based Wet Seal notified the state Employment Development Department that it plans to lay off 148 local workers by March 21. It listed a permanent closure as the reason.

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Wednesday, January 25

Swimwear Maker CEO Dies

Susan Crank, chief executive of Lunada Bay Corp. in Anaheim, died on Jan. 23 after a battle with cancer.

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Pacific Symphony to Play Carnegie Hall

Pacific Symphony will make its debut at Carnegie Hall in New York City in April 2018 with a special program dedicated to composer Philip Glass.

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Hospital CEO Named

Fountain Valley Regional Hospital and Medical Center appointed Kenneth McFarland chief executive.

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Midday Stock Roundup

The S&P 500 was up 0.7% in midday trading to 2,296.01.

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Lee & Associates Names New Exec

Newport Beach-based Lee & Associates named Chris Coyte president and managing director.

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Tuesday, January 24

UCI Team to Compete on Hyperloop

A University of California-Irvine engineering team will compete with more than 30 academic and independent engineering teams from around the world to determine which has designed and built the best “human-scale pod” for the Hyperloop transportation system.

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CSUF Gets TV Gear on Grant

California State University-Fullerton used a $50,000 grant from the Hollywood Foreign Press Association to buy “industry-grade camera pedestals” for students in its TV studio-production classes.

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UCI Starts Graduate Finance Program

University of California-Irvine’s Paul Merage School of Business announced the creation of a master of finance program in response to research showing high demand from recruiters and students.

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Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,277.47.

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Monday, January 23

Ad Tech Firm Buys Competitor

Viant Technology LLC in Irvine agreed to buy Waltham, Mass.-based Adelphic on undisclosed terms.

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United Way CEO to Retire

Orange County United Way announced President and Chief Executive Max Gardner will retire when his successor is found later this year.

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Healthcare REIT Gets New Exec

Irvine-based senior housing real estate investment trust HCP Inc. named Peter Scott executive vice president and chief financial officer.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,264.62.

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Banc of California CEO Resigns

Irvine-based Banc of California Inc. announced Chairman and Chief Executive Steven Sugarman has resigned.

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PacLife Shedding Jobs

Newport Beach-based Pacific Life Insurance Co. plans to lay off about 140 in March.

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Auxilio Buys Texas Firm for $34.3M

Auxilio Inc. in Mission Viejo bought CynergisTek in Austin, Texas for up to $34.3 million—$26.8 million upfront and up to $7.5 million in milestone payments over the next five years.

Ex-SEC Chair Joins Wealth Advisory

Former Orange County congressman and Securities and Exchange Commission Chairman Chris Cox joined the board of Leawood, Kan.-based Creative Planning Inc. as director of regulatory governance.

Hyundai Plans ‘Instant Replay’ Spot

Fountain Valley-based Hyundai Motor America Inc.’s return to the Super Bowl will include a 90-second documentary filmed during the game that will air right after the final whistle.

Chapman Senior Runs With Apple Texting, App Idea

Allows Users to Send Song Snippets, Photos, Video

A Chapman University student formed a company to capitalize on the trend of apps for texting within Apple’s most recent operating system, iOS 10.

OCBJ Calendar

Jan. 23-Feb. 1, 2017

This week's business and other event listings.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 40, No.4

Wet Seal LLC is exploring liquidation or a sale, according to news reports.

PacLife Switches Ad Agency, Plans Corporate Campaign

Picks Santa Monica Shop To Fortify ‘Emotional Ties’

Newport Beach-based Pacific Life Insurance Co. named M&C Saatchi LA in Santa Monica its advertising agency of record, and the agency’s first assignment will be creating a corporate brand awareness campaign that’s scheduled to launch in the summer.

China-Based Companies Among Biggest of OC’s Foreign Employers

ECONOMY: First entries reflect growing commercial presence here

China’s continued expansion on the world stage and a strong year for hiring among Orange County’s largest foreign-owned companies combined to bring a jump in overall employment in the category here.

OC’s Glossy Side Continues to Draw Crowd

Bevy of Lifestyle, Luxe Magazines Manages to Find Room

It’s no surprise that a market with 3.2 million residents and enough affluence to stretch from its 50 miles of coastline to enclaves ranging from Mediterranean look-alikes to horse country would have a few fancy lifestyle magazines.

Blue Gate Adds to Exec Team Ahead of Opener

FINANCE: Set to become first new bank in OC since 2008

Blue Gate Bank will continue OC’s national leadership regarding new banks when it opens its doors in Costa Mesa this week.

Aliso Viejo Grows Up, Moves on to Next Act

Office Market Matures, Pipeline Gives Way to Infill Plans

Orange County’s newest city isn’t so new anymore, least of all its office market.

Real Estate Deals

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

Marcus & Millichap sold a retail building in Laguna Beach for $19.7 million, or $571 per square foot.

Gardner to Step Down; Hill Steps Up; New Bank Steps Forward

A couple of changes in command coming up at organizations that operate outside the private sector but nevertheless play key roles in OC’s community of business …

Wen Adds LoanDepot HQ to Paper Trail

REAL ESTATE: $40M complex joins Sakura, Villa de Formosa

The Foothill Ranch office complex that holds the headquarters of mortgage lender LoanDepot Inc. is the latest notable area commercial property to be bought by a wealthy local investor.

PHILANTHROPY

Mission Hospital 21st annual Holiday Gala raised more than $1 million on Dec. 3 at the Monarch Beach Resort in Dana Point.

Irvine-Based Entry in Home Health Segment

Jet Health’s 2nd of Planned Dozens of Companies

Irvine-based Jet Health Inc. acquired Home Health Investments LLC in Colorado, a provider of home health services from offices in Denver and Grand Junction, Colo. Terms of the transaction were undisclosed.

Rare For-Sale Housing Site in IBC Sells for $17.5M

REAL ESTATE: Builder plans 71 townhomes near JWA

One of the few infill residential development sites in the Irvine Business Complex that’s slated for for-sale homes has been sold to a Seattle-based builder.

Big West's Stabilizer

Irvine-Based Conference Commissioner Guides ‘Mid-Major’ in Era of Power 5

The Big West Conference, like its counterparts across the nation, has been in a state of constant evolution since a sweeping round of college athletics realignment was touched off nearly a decade ago.

Chapman PR Boss to Run Hilbert

The long-serving communications director at Chapman University will take on a new post in February as director of the school’s Hilbert Museum of California Art.

Fashion Island Luxe Units Come With Record Rents

524-Unit Irvine Co. Site Beginning to Lease Up

Irvine Company is taking the wraps off its latest rental community, a Newport Center complex with some of the highest rents of any large apartment project in Orange County.

Electrical Contractor In on Anaheim Spec

REAL ESTATE: Rosendin to lease 144,000-SF regional headquarters

The development team planning a sizeable industrial and office facility near the Platinum Triangle has found a tenant for the speculative project just a little more than a month after buying the Anaheim site.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 17

Is your workplace great?

Building Materials Firm Files for IPO

Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, filed for an initial public offering. It’s looking to raise up to $100 million, according to documents filed with the Securities and Exchange Commission.

Software Maker Could Be Latest Purchase Target

MSC Talks Possible $800M Sale to Luxembourg Firm

It appears another sizeable Orange County tech company is in play for a takeover.

Friday, January 20

Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,270.29.

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Unemployment Down, Jobs Too

Orange County’s unemployment rate fell to 3.5% in December from a revised 3.7% in November despite a net loss of jobs month-over-month.

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Thursday, January 19

Reports: Wet Seal Exploring Sale

Wet Seal LLC is exploring liquidation or a sale, according to news reports.

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UCI Law Dean Honored Again

National Jurist magazine named Erwin Chemerinsky, dean of the University of California-Irvine School of Law, as the most influential person in legal education in the U.S. in 2016.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,265.73.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,265.73.

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Wednesday, January 18

Hyundai Plans ‘Instant Replay’ Super Bowl Ad

Fountain Valley-based Hyundai Motor America Inc.’s return to the Super Bowl will include a 90-second documentary filmed during the game that will air right after the final whistle.

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New VP for Irvine Co. Golf

Irvine Company Resort Properties in Newport Beach named Dirk Willis its vice president and general manager of golf to replace the departing Stephen Friedlander.

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Midday Stock Roundup

The S&P 500 was flat at 2,267.30.

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Tuesday, January 17

Ex-SEC Chair Joins Wealth Advisory

Former Orange County Congressman and Securities and Exchange Commission Chairman Chris Cox joined the board of Leawood, Kan.-based Creative Planning Inc. as director of regulatory governance.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,270.93.

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Healthcare Data Firm in $34M Buy

Auxilio Inc. in Mission Viejo bought CynergisTek in Austin, Texas for up to $34.3 million—$26.8 million upfront and up to $7.5 million in milestone payments over the next five years.

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Building Materials Firm Files for IPO

Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, has filed for an initial public offering.

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Monday, January 16

First COO for Incipio

Irvine-based Incipio Group promoted Ann Fong to chief operating officer, a new position.

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PBS Starts Kids Channel Streaming

PBS SoCal KOCE today launched channel and streaming service PBS SoCal KIDS.

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Real Estate Watch: Developers Get Creative

Developers are betting big on creative space in Orange County.

Oakley Parent Sets $49B Merger

Oakley Inc.’s Italy-based parent, Luxottica Group SPA, plans to combine operations with Essilor International S.A. in France, pending regulatory and shareholder approval.

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Midday Stock Roundup

Markets are closed today for the Martin Luther King Jr. Day holiday.

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St. Joe-Hoag Names New Hospital Execs

HEALTHCARE: Network also taps new chief operating officer

Irvine-based St. Joseph Hoag Health announced several executive changes within its network of seven hospitals.

OC Companies Take Advantage of CES Showcase

They See Value as Others Put Resources Elsewhere

With another CES in the books—that’s No. 6 for those following this column—let’s take a closer look at how some OC companies tried to cut through the clutter in Las Vegas at the world’s largest consumer electronics show:

El Pollo Loco Ad Celebrates Its LA-Infused Identity

‘Road to Authenticity’ Highlights City Vibe

The first ad campaign Vitro developed for El Pollo Loco Holdings Inc. in Costa Mesa, “Road to Authenticity,” launched after the holidays with a TV commercial that ties the brand to its Los Angeles roots.

Real Estate Deals

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

500 N. Main LLC sold an office building to CCP Holdings Group LLC for $4.9 million, or about $225 per square foot.

Office Rents Near Peak Levels After 8.5% Jump in ‘16

Class B Rents Rise As Cheaper Space Sought

Year-end brokerage statistics show Orange County’s office market is approaching and in some cases exceeding the rental rate highs reached at the top of the last real estate cycle.

Allergan Lowers Outlook, Identifies Growth Markets

Single-Digit Earnings Seen As Generic Comes on Line

Allergan PLC’s Irvine-based eye care and aesthetics and dermatology businesses continue their streak of being top earners despite the company lowering overall earnings expectations for this year to mid-single-digits.

Digital Marketer Rolls Out Deal With Tire, Car Groups

Rallio Looks to Impact Entire Tire Ecosystem

An Irvine-based digital marketing startup sealed a partnership with the Bowie-Md.-based Tire Industry Association.

OCBJ Calendar

Jan. 16-25, 2017

This week's business and other event listings.

OC in LA: Woods Foundation, Hyundai Play Riviera

This year’s PGA Tour event at the historic Riviera Country Club in Los Angeles will feature a couple of Orange County entities at the top.

Greenlaw Gets Energy Boost with $120M in Buys

REAL ESTATE: Monster Energy execs said to be part of deals

Irvine-based commercial real estate developer Greenlaw Partners, backed by two local high-net-worth investors, capped off an active year of acquisitions with office buys in Santa Ana and Irvine for nearly $120 million.

Tilly’s Goes Nimble in Face of Stalled Traffic

RETAIL: Maintains store count, hikes focus on events, digital

Tilly’s Inc. plans to withstand challenges vexing the brick-and-mortars nationwide with a 2017 playbook that includes renewed focus on e-commerce as well as a red-carpet rollout for shoppers that do venture into its 225 stores.

Blackberry Revival Plan Runs Through Irvine

TECHNOLOGY: TCL puts brand in hands of unit based in Spectrum

The plan to resurrect the faltering Blackberry smartphone brand in the U.S. and Canada is being crafted in the Irvine Spectrum.

Convention Retention

Tourism Industry Execs Pin Hopes On Long-Awaited Expansion Project

An expansion of the Anaheim Convention Center is scheduled to open this fall, and shows of all sizes are looking at ways of using the enlarged facility, which when the dust clears will offer 25% more exhibit space.

Hueston’s Draw; Julia’s Shine; Chuck’s Birthday

Check our front-page report on the latest joint venture between Hyundai Motor America and the Tiger Woods Foundation—and kindly note that they aren’t the only ones who poke around north of here from time to time …

Shopoff Adds Office Next to Uptown Newport Site

REAL ESTATE: Property flipped for Spectrum purchase

Irvine-based Shopoff Realty Investments wrapped up an active year of investments by buying a midsized office in Newport Beach close to its massive Uptown Newport residential development that it’s preparing to begin construction on.

Laguna Design College Acquires North Campus Parcel

EDUCATION: Space to be used for new illustration major

The Laguna College of Art and Design in Laguna Beach has purchased its North Campus property—a three-acre patch known as “Big Bend”—to accommodate growth.

2016 Capped With Record-Breaking Newport Coast Sale

Off-Water Home Sells For Eye-Popping $28M

Coastal Orange County is renowned for its beauty, from the wide expanse of sand that hugs the ocean in Huntington Beach to the rugged cliffs of North Laguna.

PE Firm Acquires NB Sandals Brand

Courtney Group Inc. in Newport Beach acquired sandal brand Flojos from Conscious Corp. in Thousand Oaks on undisclosed terms.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 40, No.3

Boeing Co. said it will start another round of engineer buyouts, including at its Southern California operations, and said it will issue layoff notices this month in Washington state, according to news reports.

Pacifica to Run One Hotel, Sells Another

Pacifica Hotels in Irvine will manage the Georgian Hotel in Santa Monica, an 84-room art deco hotel built in 1933 and owned by 4DS Inc.

Medical Device Maker Gets $25 Million

Ivantis Inc. in Irvine closed on a $25 million Series C funding round for development and eventual marketing of a stent intended for use in glaucoma surgery.

Wanted: Best Places to Work for OC Business Journal’s List

CALL FOR ENTRIES: Website set to take entries until March 17

Is your workplace great?

RSI Communities Buys Riverside Site

Newport Beach-based homebuilder RSI Communities said it bought a 228-acre site in the Riverside County city of Beaumont, where it plans to build a 981-home development called Olivewood. Terms of the buy were undisclosed.

Friday, January 13

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 2,275.74.

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Carrick Invests in Virginia

Carrick Capital Partners in Newport Beach invested $22 million in Perfect Sense Inc. in Reston, Va.

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Thursday, January 12

New Operator for GG Knitting Mill

Broncs Inc. in Compton has reached an initial deal with American Apparel LLC to take over the lease for its textile facility in Garden Grove, according to news reports.

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Irvine First in Fiscal Strength

The City of Irvine earned top marks from the Fiscal Times for fiscal strength among U.S. cities.

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JWA Traffic Up 3%

John Wayne Airport served 918,000 passengers in October, up 3% compared with October 2015’s 891,000.

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Nordstrom Out at MainPlace

Nordstrom Inc. in Seattle said it plans to close its department store at MainPlace Mall in Santa Ana in March. The closure will affect about 195 employees.

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Midday Stock Roundup

The S&P 500 was down 0.4% in midday trading to 2,265.66.

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Anaheim Landscaper Acquired

Marina Landscape Maintenance Inc. in Anaheim was bought by BrightView Landscapes LLC in Plymouth Meeting, Pa., on undisclosed terms on Jan. 1.

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Wednesday, January 11

Pacifica Sells SD Hotel

Pacifica Hotels in Irvine sold the 80-room Sommerset Suites in the Hillcrest neighborhood of San Diego for $19.5 million to Sentre Partners, also in San Diego.

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Call Center Firm Names Legal Exec

Alorica Inc. in Irvine named Tania King chief legal officer and chief compliance officer.

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RSI Communities Buys Beaumont Site

Newport Beach-based homebuilder RSI Communities said it has bought a 228-acre site in the Riverside County city of Beaumont, where it plans to build a 981-home development called Olivewood.

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Midday Stock Roundup

The S&P 500 was down 0.1% in midday trading to 2,267.10.

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Tuesday, January 10

Developer Sets SJC Hotel Date

Stratus Development Partners in Newport Beach said its Hotel Capistrano project will open in summer 2018.

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Biolase CFO Resigns

Biolase Inc. in Irvine said Chief Financial Officer David C. Dreyer will resign effective Jan. 13 for “personal reasons unrelated to the company’s financial condition.”

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Lotus Makes Another Buy

Lotus Innovations LLC in Irvine acquired Commerx Corp., a leading global provider of digital and telecommunications services.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,276.87.

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Monday, January 9

RIP, South Coast Plaza’s Escher

Werner Escher, South Coast Plaza’s executive director of domestic and international markets has died after a battle with cancer.

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Pacifica to Run Boutique Hotel

Pacifica Hotels in Irvine has signed a deal to manage the Georgian Hotel in Santa Monica.

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Montage Hotels Takes New Name

Hospitality manager Montage Hotels & Resorts in Irvine changed its name to Montage International.

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PE Firm Buys Sandal Brand

Courtney Group Inc. in Newport Beach acquired sandal brand Flojos from Conscious Corp. in Thousand Oaks on undisclosed terms.

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Aircraft Leasing Exec to New Board

Aviation Capital Group Vice Chairman Denis Kalscheur has left that post and joined the board of Avolon.

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Kia Stinger Unveiled

Kia Motors America Inc. in Irvine debuted its first sports sedan Sunday at the North American International Auto Show in Detroit.

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Law Firm Names MP

Eva Weiler is the new managing partner of Shook Hardy & Bacon LLP’s Irvine office, succeeding Doug Robinson.

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Eye Stent Developer Gets $25M

Ivantis Inc. in Irvine closed on a $25 million Series C funding round for development and eventual marketing of a stent intended for use in glaucoma surgery.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,271.86.

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Yum China Taco Bell Opens

The first Taco Bell restaurant in China opened in Shanghai’s central business district as part of the fast food chain’s plan to open 1,000 restaurants overseas by 2022.

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5.11 Tactical’s Target: Fast Growth at Retail

MARKETING: Irvine-based gear maker seeks locations around U.S.

Irvine-based 5.11 Tactical, an apparel and gear designer outfitting soldiers, firefighters and police officers, has a mission of its own—it plans to grow its 13-store retail lineup at a pace of one or two additions a month this year.

Bascom Adds More Las Vegas Rentals With 2 Buys

$47.5M for 2 Deals; Now Has 9,100 Units There

Irvine-based apartment investor and operator Bascom Group has added two rental properties in Las Vegas to its already sizeable portfolio there.

Partnership Attempts to Capture Missing Fans in Action

TicketSocket Looks to Lure Couch Potatoes

A Newport Beach-based company that facilitates the issuance of events tickets has partnered with a cloud-based network to offer registration and tickets for online broadcasts of live events.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 40, No. 2

An affiliate of private investment firm Admiralty Partners Inc. acquired General Electric’s Santa Ana aerospace business unit and plans to maintain it at its present location under the name Integral Aerospace LLC, according to news reports.

OC Master Planned Projects Add to National Stature

REAL ESTATE: Irvine Ranch No. 1 in U.S.; 4 locals in top 20

Orange County is one of the most supply-constrained markets in the U.S. for new home development, but you wouldn’t know that based on the surge of sales at the region’s four largest sources of new homes last year.

PHILANTHROPY

About 650 Pacific Investment Management Co. employee volunteers, friends and family members gathered on Dec. 3 at the OC Fair & Event Center in Costa Mesa to pack 12,000 holiday meals for families in Southern California.

Olen Strikes Record-Setting Lease for Chicago Tower

REAL ESTATE: $400M+ value for law firm skyscraper deal

Olen Properties Corp. has signed its largest and most valuable lease ever while keeping its anchor tenant in place at a skyscraper the Newport Beach-based real estate company owns in Chicago.

Alphaeon’s New Plan: Narrow Focus

HEALTHCARE: Looks to stick with aesthetics

Irvine-based lifestyle healthcare purveyor Alphaeon Corp. has hashed out a plan to narrow its focus on aesthetic medicine.

Emerald Buys Into Digital Trends to Grow Trade Shows

Tool Box Includes Beacon Technology, Data Analytics

Trade show producer Emerald Expositions LLC, a champion of face-to-face communication, appears to be thriving in the age of digital business models.

Sole Brother

Behind Lake Forest-Based Skate Brand’s Deal With French Rubber Giant

What do Pierre-André Senizergues and the Michelin Man have in common?

Irvine Company Carves 4 Rentals Out for Rare Sales

REAL ESTATE: Fountain Valley, SD sites sell, 2 more planned

The apartment portfolio of Newport Beach-based Irvine Company—the largest owner of rental properties in Orange County and in the state—is slightly smaller after the sale of two Southern California complexes, including one in Fountain Valley.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 17

Is your workplace great?

Vans Joins Year of Rooster With Special Kicks

Line Features Palette Of Chinese Zodiac Critter

Vans Inc. in Cypress marked the Year of the Rooster—which runs from Jan. 28 to Feb. 15, 2018 on the Chinese calendar—with a specially designed shoe collection developed in cooperation with Shanghai-based designer Kim Kiroic.

New President, CFO for Raj Swim

Privately held RAJ Swim in Tustin hired Brenda West as its new president, making her the first person outside of the swimwear maker’s founding family to hold the position.

CM Insurer Joins National Broker

Centennial Group Benefits in Costa Mesa merged with 23 other U.S. insurance brokers to form Alera Group, which is backed by San Francisco private equity firm Genstar Capital LLC.

Delay on Close of Vizio-LeEco Deal Raises Questions

Company Reps Pegged Year-End Sale Wrap

Vizio Inc.’s pending $2 billion sale to Chinese conglomerate LeEco failed to close by year-end, indicating a potential wrinkle in a deal that still needs final approval from Chinese regulators.

Real Estate Deals

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

D & V Capital Investments LLC sold four R&D condominiums in Irvine to Winchester Equity Group LLC for $3.9 million, or about $252 per square foot.

Cryogenics Transportation Outfit Gets Trial Account

To Serve Over 50 Sites For Immunotherapy Tests

Irvine-based Cryoport Inc. will provide transportation services to Gradalis Inc.’s second and third phase clinical trials in advanced stage ovarian cancer and to a second phase trial for Ewing’s sarcoma, a rare tumor associated with children and young adults.

OCBJ Calendar

Jan. 9-18, 2017; Jan. 25, 2017

This week's business and other event listings.

$1.2M to Symphony to Engage Chinese

The Los Angeles-based James Irvine Foundation awarded a second $1.2 million grant to the Orange County-based Pacific Symphony to support efforts to strengthen its commitment to Orange County’s Chinese-American communities through arts engagement.

Q&A

The expanding amount of data now available to companies to analyze and sometimes monetize is changing how many do business in big and small ways.

Argyroses Give on Both Sides of Bristol; Happy Birthday Bobby Mac!

It will be tough to find a clearer example of acting locally and thinking globally than the Argyros family will provide this week.

UCI Names New Vice Chancellor

University of California-Irvine named Ronald Cortez vice chancellor for administrative and business services, effective Feb. 13.

Friday, January 6

Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,280.86.

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Thursday, January 5

New President, CFO for Raj Swim

Privately held RAJ Swim in Tustin hired Brenda West as its new president, making her the first person outside the swimwear maker’s founding family to hold the position.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,266.22

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Etnies, Michelin Debut Shoe

Skate brand etnies and Michelin today introduced “the toughest outsoles in history” for its Marana OG skate shoe.

Wednesday, January 4

CM Insurer Joins National Broker

Centennial Group Benefits in Costa Mesa merged with 23 other U.S. insurance brokers to form Alera Group, backed by San Francisco private equity firm Genstar Capital LLC.

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Automakers Grew Sales in 2016

Orange County-based automakers trailed the national sales pace in December even as most notched gains for the year, according to New Jersey-based market researcher Autodata Corp.

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Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 17

Is your workplace great?

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,268.87.

Tease photo

Tuesday, January 3

$1.2M to Symphony to Engage Chinese Community

The Los Angeles-based James Irvine Foundation awarded another $1.2 million grant to the Orange County-based Pacific Symphony to support efforts to strengthen its commitment to Orange County’s Chinese-American communities through arts engagement.

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UCI Taps Administrative Vice Chancellor

University of California-Irvine named Ronald Cortez vice chancellor for administrative and business services, effective Feb. 13.

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Confie Grows in Southwest

Confie Seguros bought Auto Insurance America Corp. on undisclosed terms.

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Midday Stock Roundup

The S&P 500 was up 0.4% in midday trading to 2,247.95.

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Hyundai, Google Voice Controls Debut

Hyundai Motor America Inc. in Fountain Valley plans to unveil a new feature tomorrow that allows vehicle owners to control various functions through Google Assistant voice commands.

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Manufacturer Buys Sharper Image

ThreeSixty Group Inc. in Irvine acquired The Sharper Image brand from Iconix Brand Group Inc. in New York for $100 million in cash.

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Panattoni Buys 7-Acre Parcel in Anaheim From City

REAL ESTATE: $10.2 million for city-owned land along I-5

The developer of the Anaheim Concourse industrial campus has closed on the purchase of another, smaller development site near the Platinum Triangle.

Finance: John DeCero

Saw Great Recession Coming, Came Through It Swimmingly

John DeCero didn’t take an easy path to this week’s honor as the Business Journal’s finance Person of the Year.

Allergan Picks Up NJ Manufacturer

Allergan plc paid $2.9 billion to buy New Jersey-based LifeCell Corp., which develops aesthetic and regenerative medicine used in plastic surgery, in a deal expected to close in the first quarter.

Monday, January 2

Real Estate: Ray Lawler

Led Hines Through Busy 2016; Intersect in Wings for This Year

The Newport Beach office of Hines Interests LP had a blockbuster year, with a steady stream of notable property acquisitions, sales, leasing news, and redevelopment activity.

2016 Taste Bud Pleasers and a Pig’s Head on the Brain

New Vietnamese Eatery Fresh Fifi Favorite

This is the month when I look back at the past year, remember the best dishes, and look forward to the broad restaurant scene that is ever changing. There were many superb meals, and a lot of interesting restaurants visited.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 40, No. 1

Yamaha Motor Corp. USA in Cypress said its Kennesaw, Ga.-based Outdoor Power Equipment division acquired Subaru Industrial Power Products on undisclosed terms.

Marketing: Kevin Bailey

How Bailey Got Vans to $2 Billion

Kevin Bailey oversaw Vans Inc.’s upward trajectory to $2.2 billion in sales during a 7-year stint as president of the footwear and apparel brand—a performance that earned him a recent promotion and honors this week as the Business Journal’s Business Person of the Year in the marketing category.

Abbott Must Sell Some Heart Devices

The pending $25 billion merger of medical device maker St. Jude Medical Inc. in St. Paul, Minn., and Abbott Laboratories in Lake Bluff, Ill., could affect the companies’ Orange County operations.

2016 Luxe Market Glance: Strong Performance

Numbers Reflect Brisk Activity, Pace on Sales

How did the Orange County luxury market do last year?

Better Zzzzzs Focus of Two Young App-Based Firms

Sleep Monitors Analyze Slumber Data Overnight

Two companies are tapping into concerns about getting enough quality sleep in a fast-paced world with recently launched apps designed to help people get a better night’s rest.

Cannabinoid Deal Aims to Boost Quality, Production

Biosynthetic Technology Licenses From Florida Firm

Nemus Bioscience Inc. continues to make strides with marijuana-based products, with its latest licensing deal promising higher quality cannabinoids with quicker production cycles.

Garden Communities Eyes 876 Rentals Next to JWA

REAL ESTATE: Plans filed for trilogy site it bought a year ago

San Diego-based Garden Communities of California has disclosed plans for its third big apartment development in Irvine, an 876-unit complex next to John Wayne Airport.

GG Tops Cravath; Craig Sets Own Scale; Buchanan’s Cheap Trick

Just a few additions to this week’s front-page coverage of our Business People of the Year—notes on some recent moves that also merit mention as our community of business gets set to take on whatever 2017 has to offer …

Local Execs Grow Bullish for Q1

ECONOMY: Outlook up big on sales, profits, jobs to start year

Orange County business owners and executives enter this year with a level of optimism at a 15-year high, according to the California State University-Fullerton’s Orange County Business Expectations Survey.

Kia Blazes Alt Fuel Trail With Cross-Country Drive

Lands Guinness Record For Least Fuel for Hybrid

Kia Motor America Inc.’s 2017 Niro received a Guinness World Record title for the lowest fuel consumption for a hybrid car driving the U.S. from coast to coast.

Local Investor Unveils Plans for QLogic Campus

REAL ESTATE: Gets 3 buildings, 161,000 SF in Aliso Viejo for $36M

A local investor has acquired the QLogic Corp. campus in Aliso Viejo and is planning to rebrand the site in preparation of the networking products maker vacating the three-building property this year.

Hyundai Looks for New Grip After Sales Drift

AUTOMOTIVE: CEO switch, SUV surge, driverless car on radar

Hyundai Motor America Inc. needs a “diverse product lineup in its SUV segment” if it plans to increase its 4.6% share of a U.S. automarket that looks poised to plateau, industry insiders say.

Ingram Micro Shakes Up Leadership in Wake of Sale

Rising Star Mastantuono to CFO, Board Seat

The $6 billon sale of Ingram Micro Inc. last month to Chinese conglomerate Tianjin Tianhai Investment Company Ltd. ushered in some management and board changes at the world’s largest technology products distributor.

Law Firm Takes Top Floor of Century Centre in Irvine

17,500 SF Murtaugh Meyer Nelson Lease

Law firm Murtaugh Meyer Nelson & Treglia LLP is moving its practice up a few floors at the Century Centre office complex in Irvine.

OCBJ Calendar

Jan. 2-11, 2017; Jan. 25, 2017

This week's business and other event listings.

Real Estate Deals

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

Stark & Aldrich LLC recently purchased two apartment complexes for $9.8 million, or about $327,000 per unit.

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Surf City Steps Up

$300M Reshapes Shoreline Hospitality in Huntington Beach

Investment in hotel development in Huntington Beach hit at least $300 million last year—and there’s more in store this year.

Newth Deal

Morris Programmed Telogis for Deal That Fetched Close to $900M From Verizon

Look to Aliso Viejo to find a key component of a new digital strategy crafted by the nation’s largest telecom as it integrates several recent buys into a new business unit.

Visit Anaheim Starts Show

Visit Anaheim plans to hold its first Sports Express show at the Wyndham Anaheim Garden Grove Jan. 11 to 13. The event will draw 15 to 20 sports event organizers and meeting planners, plus attendees from local hotels and cities.

Device Maker Tops $100M in Funding

Sonendo Inc. in Laguna Hills received $35 million in an extension of a Series D funding round that brings the privately held dental device maker’s total funding to more than $100 million.

Healthcare: Joe Kiani

Exec Grows Company, Movement

Masimo Corp. not only delivered on its promise for a 10-year growth plan since its 2007 initial public offering, Chief Executive Joe Kiani said the company is expanding patient safety efforts with its noninvasive patient-monitoring products.

Hospitality: Robert Mayer Sr.

Patriarch, Pritzker Partner Shapes Surf City Skyline

Robert Mayer Sr.’s reach can be measured in stories.

Electronics Maker Buys in Canada

Infinite Electronics Inc. in Irvine acquired KP Performance Antennas in Edmonton, Alberta, Canada, on undisclosed terms.