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Real Estate Deals

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

17771 Cowan LLC sold an office building to Encore 5C LLC for $17.5 million, or $287 per square foot.

Calendar

Sept. 17-26, 2018

Inside OC With Rick Reiff (KDOC-TV), Sunday 5:30 a.m.; (KOCE-TV/PBS SoCal), Tuesday 1 a.m., Repeats Friday 2:30 a.m., 9:30 a.m., 5 p.m., Saturday 4:30 p.m., Sunday 11 a.m. and 5 p.m., Monday 12:30 a.m., Guests (Sept. 23): TBA

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 38

Allergan PLC is buying Newport Beach-based Bonti Inc. for $195 million.

OC LEADER BOARD Opinion, Analysis, Insight

The Great Recession Ten Years After Fifth in a Series

Irvine-based New Century Financial’s start was meteoric. By design. We charged out of the gate, raising venture capital in late 1995, making loans in early 1996, $1 billion subprime mortgages in our first 18 months. That burst supported our IPO in June 1997 and Ernst & Young named us Orange County Entrepreneurs of the Year in 1998.

Laguna Niguel Housing Push Will See Condos Added

100-Unit Project on Street Busy With Apartments

The city of Laguna Niguel could soon see one of its largest for-sale housing developments in years go up on an office site near Crown Valley Road and the San Diego (5) Freeway.

Marwaha Family Buys 3rd SD Hotel

An affiliate of Anaheim-based Marwaha Group Inc. paid $22.7 million for Hampton Inn Carlsbad in North San Diego County; the deal closed Aug. 31.

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Sock Hoppin’ Sales

Stance is betting on stores, OC’s fastest-growing private companies are bursting at their annual sales seams—and all are busting out of the pages of this week’s Business Journal.

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Midday Stock Roundup

The S&P 500 ticked down 0.1% in midday trading to 2,901.51.

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Allergan to Buy NB’s Bonti

Allergan PLC announced it will buy Newport Beach-based Bonti Inc. for $195 million.

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Montage, Ritz Up For Sale, Again

$1B Valuation, But Distressed Seller May Cut Price

Two of Orange County’s poshest coastal resorts are back on the block and might be worth nearly $1 billion combined based on a hot hotel market and the properties’ prominence.

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OC 500: Larry Higby

Also COO … resume includes Unocal, Times Mirror, PepsiCo … numerous corporate boards … wife, Dee … former chairman New Majority … backs, serves board, former chair Segerstrom Center for the Arts, esp. dance programs … boards: Mind Research Institute, Brandman U. … lives on Lido … golfer … former assistant, Nixon White House … UCLA political science grad

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Pizza Chain Names Yum Vet President, COO

Mountain Mike’s Pizza LLC hired Jim Metevier as president and chief operating officer.

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Midday Stock Roundup

The S&P 500 rose about 0.5% to 2,902.59.

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BPM Buys Santa Ana Accountancy

San Francisco’s BPM LLP, one of the 50 largest accountancies in the country, is entering Orange County with the purchase of Santa Ana’s Kramer & Olsen Accountancy Corp.

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OC 500: Jeff Kearl

Launched sock, underwear maker 2009 with Aaron Hennings, Ryan Kingman, Taylor Shupe, Richard Alden, John Wilson … Nordstrom, Footlocker … NBA, MLB deals … $76M backing, 2014-15—August Capital, Kleiner Perkins, Mercato—helped it launch retail stores; has six, including SoHo, Disney Springs, outlet malls … Kearl angel invests in business software and Uber

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Afable Moves From St. Joseph to Startup

INNOVATION: OC50 vet CEO of Concierge Key

Richard Afable didn’t stay retired for long. The prominent Orange County healthcare industry veteran who stepped down as chief executive of St. Joseph Hoag Health in Irvine in December, recently took the chief executive role at Newport Beach-based Concierge Key Health LLC, a 1-year-old startup firm that created a mobile app for on-demand access to medical specialists.

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Language School Plots Franchise Growth

Portal Languages in Costa Mesa plans six franchised locations to add to three sites it has opened so far in OC.

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Rossignol Picks Global Bike Chief

Rossignol Group, a French maker of ski, snowboard and biking products, named Scott Rittschof to a new position as senior vice president of its global bicycle business, based in Irvine.

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Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,887.65.

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Stock Sale for Tilly’s Founders Comes Amid Growth

APPAREL: About $117M offering; sales, stores up

Irvine-based Tilly’s Inc.’s co-founders are picking an opportune time to cash out a sizeable portion of their holdings in the youth fashion and footwear chain.

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