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...

Real Estate Deals

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

The E-Land Co. sold a creative-office building in Irvine to the Parviz Ramezani Trust for $1.9 million, or about $375 per square foot.

Church Site in Orange Sold for Luxe Home Project

New Home Co. Uses Land Banker for Marywood Buy

The Roman Catholic Diocese of Orange has completed the sale of its former administrative headquarters in Orange, which is slated to be turned into a residential development by Aliso Viejo-based New Home Co.

App Beats Pitch Competitors to Take Home $20,000

Tech Coast Angels of Orange County held its inaugural Celebration of Entrepreneurship on March 10, when San Juan Capistrano-based Globe Chat took the overall prize in the Fast Pitch competition.

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OC Adds Jobs, Unemployment Rate Unchanged at 4%

Orange County added 12,800 jobs in February to maintain a 4% unemployment rate, even with the recently revised rate for the month prior.

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Volcom Sheds Eyewear Subsidiary

Costa Mesa-based Volcom Inc. has sold Electric Visuals in San Clemente to the eyewear subsidiary’s chief executive, Eric Crane.

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Ingram Micro Buys Telecom

Irvine-based Ingram Micro Inc. bought NetXUSA in Greenville, S.C., on undisclosed terms.

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County RFQ Out on DP Harbor

The County of Orange today released a request for qualifications for the redevelopment of Dana Point Harbor.

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Taco Bell to Open First Store in China

Irvine-based Taco Bell Corp. is planning to open its first store in Shanghai, China by the end of the year.

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Aliso Viejo Device Maker Gets $3.8M

Aliso Viejo-based Focal Therapeutics Inc. has raised about $3.8 million in venture capital, according to a Securities and Exchange Commission filing.

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OC Resorts Have New China-Based Owner

Two luxury hotels in Orange County – the Montage Laguna Beach in Laguna Beach and the Ritz-Carlton Laguna Niguel in Dana Point—have a new China-based owner.

Ubiquity Says New Licensing Deal a ‘Turning Point’

Software Agreement Could Help Reverse 2-Year Slide

Irvine-based Ubiquity Inc. has signed its first major licensing agreement to integrate its operating system software after years of development and patent approvals.

Real Estate Real

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

Hamilton Center, a multitenant shopping center in Huntington Beach, was sold for $3.3 million, or about $485.29 per square foot.

Steve Harvey Hatches Partnership on Branded Eggs

Comedian Partners With San Juan Startup

Comedian Steve Harvey recently announced that he and business partner Greg Calhoun have teamed up with San Juan Capistrano-based TEN Ag Tech to launch a line of food products under the brand name Just Ordinary.

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Freedom Auction Gets Stalking Horse

Digital First Media’s $45.5 million offer has been selected as the stalking horse, or starting, bid for Wednesday’s bankruptcy auction of Freedom Communications Inc. in Santa Ana.

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PIMCO to Get Allianz Overseer

Newport Beach-Based Pacific Investment Management Co. will have a new “overseer” on July 1.

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Moe’s Plans 13 OC Sites

Moe’s Southwest Grill said a franchisee will open 13 restaurants in Orange County over the next several years.

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Cottage Cheese Maker Gets $2M

Irvine-based Good Culture LLC got $2.1 million in seed funding led by Cavu Venture Partners in New York City with participation from 301 Inc. in Minneapolis.

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Carl’s Jr. Parent to Nashville

CKE Restaurants Inc.— based in Carpinteria, Calif., near Santa Barbara, but with a sizable presence in Anaheim, where it has its roots—is moving its headquarters to Nashville.

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Taylor-Dunn Acquired

Minneapolis-based Polaris Industries Inc. acquired Taylor-Dunn Manufacturing Co. in Anaheim on undisclosed terms.

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Bridgford Reports $2 Million Profit

Shares in Anaheim-based Bridgford Foods Corporation jumped 9.9% to $10 per share and a $91.8 million market cap.

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Unemployment Drops; Jobs, Too

Orange County’s nonseasonally adjusted unemployment rate dropped from 4.1% to 4% in January as the U.S. Department of Labor’s annual review said the county lost 30,300 jobs, said the California Employment Development Department.

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PacSun Hires Restructuring Specialist

Pacific Sunwear of California Inc. has hired Washington, D.C.-based restructuring firm FTI Consulting Inc. and investment bank Guggenheim Securities in New York to deal with $160 million in debt payable at the end of this year, according to The Wall Street Journal.

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Clean Energy Reports Losses

Newport Beach-based Clean Energy Fuels Corp. reported lower annual revenue and income and its stock declined in trading Friday.

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Habit Falls on Weak Guidance

Irvine-based Habit Restaurants Inc. shares fell about 10% to a market cap of $508 million in heavy trading after the fast causal burger chain issued lower than expected guidance for this year.

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Willdan Acquires NY Consultant

Anaheim-based engineering consultant Willdan Group Inc. plans to acquire Pelham, N.Y.-based Genesys Engineering PC on undisclosed terms in a deal expected to close this month.