OCBJ WEEKLY EDITION
Bennett Washabaugh and Mike Zei launched their commercial real estate startup, TenantBase, with Irvine Company in mind as an innovator that leases space to startups around the country.
Globetrotting Exec Wants to Redefine Mazda
Masahiro Moro—or Moro-san as employees at Mazda North American Operations call him—reclined at his office in Irvine, where a picture of a red RX-Vision concept sports car Mazda Motor Corp. introduced in October at the Tokyo Motor Show hung on the wall directly across from his desk.
TECHNOLOGY: Computer science, law, engineering schools drive effort
University of California-Irvine is in the early stages of establishing a cybersecurity research institute that will become the first of its kind in the state with a national scope and profile.
REAL ESTATE: $1B CMBS offering could precede some big property buys
A new billion-dollar funding deal involving a portion of Irvine Company’s apartment portfolio raises the prospect that Orange County’s dominant real estate company could soon be on the lookout for acquisitions.
Destination Marketers, Others Hunt for Ways to Stand Out
More local cities, marketing groups and hotel companies are using data to decide how to reel in new business.
Orange County is known for drawing visitors from across California and the rest of the country—and from many points around the world. Less attention goes to day-trippers, or those who come to Orange County without staying overnight, yet make a significant contribution to the tourism industry. The Business Journal’s Paul Hughes asked some local tourism and hotel executives about the value of what turns out to be a big segment of their business, and how they work to attract day-trippers to the county. Here are edited excerpts of their responses:
HOSPITALITY: Great Wolf raises top 50 to 21,508 rooms
There have been a few changes on a list that rarely sees them.
Reports from the Lincoln Club’s recent annual dinner at the Island Hotel indicate Al Frink captured the mood of many of the assembled GOP stalwarts with a turn as a prop comic.
REAL ESTATE: $300M spree follows bond deal in Israel
A real estate investment trust run by Newport Beach-based KBS Realty Advisors, fresh off a $250 million bond offering in Israel, has made plans to spend nearly $300 million on an office property in downtown San Francisco and a portfolio of business parks in the Seattle suburbs.
HEALTHCARE: Combo to make both more competitive
It’s not yet clear how Abbott Laboratories’ pending $25 billion buy of St. Jude Medical Inc. will impact the latter’s Orange County operations.
Dallas-based Cerebain Biotech Corp. has moved its corporate headquarters from Dallas to Costa Mesa.
Pacific Hospitality Walks Line Between Resorts and Chains
This week’s opening of Paséa Hotel & Spa in Huntington Beach marks the seventh high-end property out of 10 in owner-operator Pacific Hospitality Group’s stable.
Transplant Startup from Ariz. Sees Breath Tool as Innovator
A startup company that recently relocated to Aliso Viejo is aiming to introduce breath analysis as a tool for weight management.
Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.
Anaheim-based artificial intelligence developer Cogitai received a strategic investment on undisclosed terms from Sony Corp., the multinational conglomerate headquartered in Tokyo, Japan.
Samantha Dunn was named editor of Coast magazine, according to the Southern California News Group, which oversees 11 daily newspapers, several magazines and other entities in Southern California, including the Orange County Register.
American Capital Ltd. sold PHC Sharp Holdings Inc. to Beverly Hills-based investment manager Levine Lechtman Capital Partners on undisclosed terms.
Philanthropy for May 23, 2016
Addendum for May 23, 2016
May 23-June 1; June 3, 2016
Will Be Interviewed By Another Company Veteran
David Pyott, retired chief executive and chairman of Allergan Inc., now Allergan PLC, will be the headliner next month at the annual Ophthalmology Technology Summit put on by OCTANe, an Aliso Viejo-based booster group for life sciences and other forms of technology.
Event Showcased SoCal, Vietnam-Based Designers
Viet Fashion Week, showcasing designers of Vietnamese heritage, was held over the weekend outside the Westminster Mall.
New businesses continued to migrate to the Mid-Counties industrial market at the border of Los Angeles and Orange counties in the first quarter as existing businesses expanded, resulting in 256,044 square feet of positive net absorption.
Museum Closed in 2014, Sells for Nearly $1,500/SF
An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.
Otherwise Laments State Of Overall Fuel Market
Count Clean Energy Fuels Corp. co-founder and corporate raider T. Boone Pickens among the throngs of company backers who thought a profitable quarter would come years ago.
Expect to hear more from various sources around the state about the growing stature of Emile Haddad and Aliso Viejo-based FivePoint Holdings Inc.
DINING: Novice operator won name from Del Taco
A long-dormant fast food brand anticipates a revival with its first full-time location in two decades, in Huntington Beach.
TECHNOLOGY: 39 Largest Combine For 8,000-Plus Jobs
The county’s largest software makers grew employment by 5.1% in the 12 months through April as several emerging companies joined the ranks of the largely mature local industry.
RETAIL: SF-based private equity firm lined up as stalking horse
The fate of Pacific Sunwear of California Inc. could be decided in a bankruptcy auction that’s scheduled for next month, with a stalking-horse bid in place and the possibility of additional interest in the Anaheim-based teen apparel and accessories retailer on the horizon.
Exec Sees Firm Father Founded As Community Game Changer
It’s been a hectic 18 months for Kelly Vlahakis-Hanks, president of Cypress-based cleaning goods maker Earth Friendly Products, who was one of the honorees at the Business Journal’s Women in Business awards ceremony on May 4 at Hotel Irvine (see related stories, pages 1, 6, 8 and 11).
Helms Family Firm That Prides Itself on Service, Quality
The female business leader who’s known as Orange County’s “singing CEO” was honored at the Business Journal’s 22nd annual Women in Business Awards on May 4 at Hotel Irvine (see profiles of the other winners, pages 1, 4, 8 and 11).
Webster O’Grady Saw Need For Female Mentors
When Nella Webster O’Grady, principal at Newport Beach-based investment adviser Palo Capital Inc., was honored at the Business Journal’s Women in Business awards luncheon at Hotel Irvine on May 4, she immediately reflected on her career in finance in Orange County. (See profiles of other winners, pages 1, 4, 6 and 11.)
Breast Cancer Nonprofit Head Values Its Business Connections
Lisa Wolter credits passion and a variety of other factors for her long-running career in the nonprofit sector that’s been sewn “with the thread of women’s health.”
Allergan PLC reorganized its business segments as it prepares to divest its generic drug unit.
Broadcom Ltd. agreed to sell its wireless infrastructure backhaul business for $80 million to MaxLinear Inc. in the latest divestiture led by Chief Executive Hock Tan.
Irvine-based healthcare real estate owner and investor HCP Inc. will spin off its HCR ManorCare skilled nursing and assisted living businesses into a separate, publicly traded real estate investment trust.
The Orange County Visitors Association in Irvine added a “Meetings, Incentives, Conventions and Exhibitions” effort to its Beijing office.