Orange County Business Journal

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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

OC Hotel Market Stays Hot With $126.2M Deal

REAL ESTATE: Local sales add up to $730M so far this year

The 485-room Irvine Marriott Hotel at the Irvine Towers office complex near John Wayne Airport has been sold to a Los Angeles-based institutional investor.

Burnham Adds Office Near JWA to Local Portfolio

REAL ESTATE: Data indicate relative bargain at $264 per SF

Newport Beach-based Burnham-Ward Properties has expanded its hometown office holdings with a property not too far from John Wayne Airport.

One Source Industries Plans San Pedro Plant

One Source Industries LLC, an Irvine-based provider of point-of-purchase displays, product packaging, and global promotional programs, plans to open a 25,000-square-foot production facility in San Pedro.

Luxury Homebuyers Want More Than Just Location

Seek More Amenities, Not To Mention Precious Views

Discerning homebuyers today are looking for more than “location, location, location,” say real estate professionals in Orange County who specialize in the ultra-luxury market.

Auction.com Seeks Chinese Buyers, Sellers With Deal

Partner to Link Native Speakers, Sale Prospects

Auction.com LLC in Irvine, an online real estate marketplace that matches buyers and sellers of commercial and residential properties, signed a co-marketing deal with AREAA Global “to expand real estate ownership opportunities for Chinese investors.”

Olloclip Shoots for $100K in Return to Kickstarter

Campaign Focused On Studio System Market Entry

Huntington Beach-based olloclip has launched a new campaign on Kickstarter that builds upon its recent entree into the crowded smartphone case segment.

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Frost Capital, Symantec Launch Incubator

San Juan Capistrano-based investment firm Frost Data Capital has partnered with security service provider Symantec Corp. in Mountain View to create and seed startups in cyber security analytics, Big Data, and Internet of Things markets.

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Unemployment Rate Up Slightly

The unemployment rate in Orange County ticked up slightly as employers trimmed the work force in June.

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MV Pipeline Inspection Company Sold

Mission Viejo-based Hoffman Southwest Corp., which provides underground pipeline inspection and repair services, has been acquired by Chicago-based private equity firm Sterling Partners.

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VC Inflow Jumps in Q2

Quarterly venture capital inflow to Orange County companies hit the highest level since mid-2011, according to data from Dow Jones VentureSource.

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St. Joseph Hoag Opening Health Wellness Center at Western Digital

St. Joseph Hoag Health said today that it would open a wellness center in the Irvine headquarters of storage products maker Western Digital Corp. this month.

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Taco Bell Up, Yum Down, in Q2

Irvine-based Taco Bell Corp.’s operating profit in the second quarter grew 29% to $140 million compared with the same period last year, its parent company said Tuesday.

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Irvine Security Software Maker Raises $100M

Irvine-based security software maker CrowdStrike Inc. has raised $100 million in a Series C funding round led by Google Inc.’s capital investment arm, Google Capital.

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Warburg Pincus Set to Take Stake in Universal

New York-based Warburg Pincus is set to take a majority stake in Santa Ana-based Universal Services of America Inc.

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Edwards to Buy Crosstown Valve Maker

Irvine-based Edwards Lifesciences Corp. is buying privately held CardiAQ Valve Technologies Inc. for $350 million in cash and up to $50 million in regulatory milestone payments.

Aliso Viejo Office Sale Estimated Over $100M

REAL ESTATE: Two buildings at Summit combine for 295,000 SF

Two buildings in Aliso Viejo that hold the local operations of homebuilder Lennar Corp. and other tenants has traded hands in what looks to be the priciest office sale in South Orange County so far this year.

Management Consultant Gains Slow As Biggest Shrink

27 Firms Eke Out 1% Gain to 1,551 Jobs Here

The pace of employment growth at Orange County’s top management consulting firms slowed over the past year, driven primarily by job cuts at the biggest.

Allergan Deals Add Emphasis to Irvine Operations

HEALTHCARE: Minimum of $350M for buys in eye business

Allergan PLC Chief Executive Brent Saunders is living up to his word when it comes to the company’s Irvine operations.

Change at Top For Hyundai Ad Shop

The advertising arm of Fountain Valley-based Hyundai Motor America Inc. has a new boss to go with a $300 million initial public offering by its parent, Innocean Worldwide Inc.

Trend Builds as Great Park Project Eyes Own Food Hall

REAL ESTATE: Old warehouse would hold one of a few planned

Add Great Park Neighborhoods in Irvine to the growing list of areas across Orange County looking to add a hip food hall to their developments instead of a more traditional retail center.

Banc of California Sells Two Branches

Irvine-based Banc of California Inc. agreed to sell two branches to Americas United Bank in Glendale, which primarily serves Latino-American customers.

Software Maker Drawloop Acquired

Irvine-based Drawloop Technologies Inc. recently announced it was acquired by Nintex USA LLC for an undisclosed amount.

Excelsior Capital Buys Wall Art Maker

Excelsior Capital Partners LLC in Newport Beach formed two entities to acquire Artissimo Designs, a manufacturer of wall decoration products.

Payoff Gets $250M for Credit Debtors

Costa Mesa-based consumer financial services firm Payoff Inc. secured up to $250 million in debt financing to help its members pay off credit card debt.

IT Provider Nears $500M in Sales, Aims for $1 Billion

2K Customers Include Big Names Such as Vizio

Irvine-based IT consultancy and service provider Trace3 is on pace to crack $500 million in revenue this year as it attracts new Fortune 500 customers and builds up regional offices.