Orange County Business Journal

WEEKLY EDITION

Preferred Outcome

Marketing Programs Behind Growth of Service Provider for Independent HotelsPreferred Hotel Group’s 1,600-point hotel inspection is intense.

By Kari Hamanaka February 15, 2014 midnight   $$ Share

What’s on Broadcom’s Drawing Board?

Great Park Campus Could Fit Thousands More Workers

The Great Park office campus designed to hold the new headquarters of Broadcom Corp. suggests that the chipmaker—currently in the midst of cutbacks—could be preparing to add several thousand jobs in Orange County over about the next five years.

Best Companies Rise to Top With Closer Look

Annual Survey Delved Deeper With Employers, Workers

The latest batch of Orange County’s best places to work earned the distinction after a heightened research process.

Volcom’s New Vision

Paris-Based Parent Prods Change at OC Label

Volcom Inc. has outgrown its rebellious stage.

Irvine Firm Seeks Business Virtue in Catholic Practice

LAW: Recent combination aims for national client roster

Tim Busch and Michael Caspino have a clear growth plan in mind for their newly formed law partnership: make it the go-to firm for cases involving Roman Catholic entities nationwide.

Ackman Must Beat Clock to Best Pyott

HEALTHCARE: Allergan defenses run deep; CEO not targeted in board ouster

Time, it seems, is on Allergan Inc.’s side. That much started to come clear last week when activist investor Bill Ackman set off a ticking clock in the background of his hostile takeover bid for the Irvine-based drug maker.

Toba Rolls Ahead With String of Exits, IPO

FINANCE: Smith’s VC firm backs up talk of fast start, OC investments

Toba Capital, the Irvine-based venture capital firm launched by former Quest Software Inc. Chief Executive Vinny Smith, is on a roll with three recent exits and an initial public offering topping $100 million apiece.

Hotels Get Creative With Modern Looks for Lobbies

Renovations, New Construction Emphasize Open Design

Look to the lobbies of Orange County’s newest and most recently redesigned hotels to see the hospitality industry’s latest generation of interior design on display.

Tenant-Improvement Firms Ride Upturn for 29% Jump

26 Firms Combine for $677 Million in Revenue Last Year

Orange County’s tenant-improvement industry posted its strongest year in more than a decade last year, buoyed by a spate of new construction work in addition to plenty of renovations at existing properties.

Tie Goes to Pyott?; Something Cool in South Coast Metro

The Insider isn’t ready to make a flat-out prediction but will say this much on the latest turn in the Allergan-Valeant saga: It looks as though David Pyott can play for a tie while his opponents have to win—and do it in regulation time.

Corinthian Programs Could Command $140M

EDUCATION: Wells Fargo, reports cite value, $101M debt

Corinthian Colleges Inc.’s selloff of schools and programs and its closing of campuses could bring in as much as $140 million.

Swimwear Maker Adds Labels, 190,000-SF Lease

APPAREL: Will consolidate distribution to Buena Park

The biggest swimwear maker in the U.S. is getting bigger with an expansion to Buena Park following its latest acquisition.

Swiss Conglomerate Shifts Units to Irvine

A Swiss manufacturer has expanded its North American industrial piping systems division in a move from Tustin to Irvine.

Fast-Casual Pizza Co. Eyes More Units, New States

RESTAURANTS: Pieology has Yum! vet to lead expansion

Pieology Pizzeria has cooked up ambitious plans to double in size by year-end and has hired a Yum! Brands Inc. veteran to help it get there.

Menlo Sheds Irvine Office With $36 Million Sale

REAL ESTATE: Investor paid $20M for offices in 2010

A two-building office property in Irvine a few blocks from John Wayne Airport has traded hands for $36 million.

El Pollo Loco Chain Sets IPO Terms

Costa Mesa-based El Pollo Loco Holdings Inc. set the terms for its planned initial public offering.

Art Museum in Negotiations on Property

The Orange County Museum of Art said it’s negotiating with a unit of New York-based developer Related Cos. to sell its Newport Center property.

Ketchum Univ. Names Health Dean

Fullerton-based Marshall B. Ketchum University named Judy Ortiz the first dean of its College of Health Sciences and director of its new School of Physician Assistant Studies.

Oculus Cancels Some Headset Orders

Irvine-based Oculus VR Inc. canceled some preorders for its Rift VR DK2 headset after finding them for sale on eBay and other ecommerce sites.

Fastest-Growing Private Cos. Wanted for List

ECONOMY: Centerpiece of Sept. 22 Special Report

The Business Journal is producing its annual list of fastest-growing privately held companies, set to appear as the centerpiece of a Special Report in its Sept. 22 issue.

Healthcare Project Construction Manager Bought By JLL

Chicago-based commercial real estate brokerage JLL acquired Cleo Construction Management in San Clemente for an undisclosed amount. Cleo specializes in construction and management of healthcare projects.

PHILANTHROPY

Nearly 300 guests donned their best party clothes during a night of Las Vegas-style poker at the Muscular Dystrophy Association’s 19th Annual Gift of Hope Gala on May 31.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 29

Boeing Co. won a Department of Defense contract to design a robotic plane to place satellites in space, according to the Orange County Register.

OCBJ Calendar

July 21-30, 2014

This week's business and other event listings.

Print Service Provider in Deal for Security Specialist

Auxilio Pays $2.7M for San Clemente Company

Mission Viejo-based Auxilio Inc., a managed print services company serving the healthcare industry, said it is acquiring information security manager Delphiis in San Clemente this month in a $2.7 million cash and stock deal.

Fresh Roxy Style at the Beach—Venice Beach, That Is

New Quiksilver Video Part of ‘Season of Freedom’

Apparel manufacturer Quiksilver Inc. in Huntington Beach has launched a one-minute video, “Loving Lost in Venice.”

Blizzard Designer Exits Company After 17 Years

Pardo Was Lead Artist On ‘Warcraft,’ ‘Diablo’ Games

Blizzard Entertainment Inc. Creative Director Rob Pardo, a 17-year veteran at the Irvine-based video game maker and lead designer on the “World of Warcraft” and “Diablo” franchises, is leaving the company to embark on a new adventure.

Real Estate Deals

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

LNR Partners LLC sold a retail building in Foothill Ranch for $6.6 million to Crown Realty & Development Inc.

South OC Continues Upward in First Quarter

Overall activity in the South Orange County commercial market picked up in the first quarter, recording positive net absorption of 176,679 square feet.

RREEF Adds Anaheim Hills Office to OC Portfolio

$18.5M Buy Comes After $20.4M Tustin Office Deal

Anaheim Hills Office Plaza, one of the largest North Orange County offices built in the last real estate boom, has had another change in ownership.

Building Time in Orange?

Office Buys Could Spur Apartments, Tower Project

A big chunk of apartment construction and a new office tower could go up on land next to the Outlets at Orange following the recent sale of two nearby buildings.

Fashion Label Likes Look of Competition

APPAREL: Irvine-based Z Supply feeds off challenges of fast-fashion

Forget about the doom-and-gloom projections that women’s retail is boring, merchandising is dead, and Forever 21 killed the category.

Allergan’s New Look Likely to Include Slimmer Headquarters

HEALTHCARE: Plans some R&D cuts to boost earnings amid takeover battle

Look for Allergan Inc. to start looking different as the takeover battle for the Irvine-based drug maker grinds on.

Vinny’s Other Dell Deal: $150M for Quest’s Venture Portfolio

FINANCE: 10 companies formed foundation of Irvine-based Toba

The foundation of what is now the largest venture capital firm in Orange County tracks back to Vinny Smith’s success in retrieving a chunk of Quest Software in a deal struck nearly a year after its $2.8 billion sale to Dell Inc.

Irvine’s Outsized Rep; SCR Goes to Santana; Augie Takes a Hike

Sheril Liu of ReMax Premier Realty in Irvine put a clear focus on one of the ways the city—with a population a bit under 250,000—punches above its weight.

OC Roots Surface in $140 Million Acquisition

TECHNOLOGY: Lake Forest company in hot segment

The deep roots of Orange County’s technology sector intersected with one of the industry’s hottest segments in last week’s $140 million sale of Lake Forest-based chipmaker Newport Media Inc.

Q&A

Some local accounting firm executives say an improving economy, increasingly complex client needs, and heightened regulation are combining to bring them more work, a phenomenon they say will likely require bigger staffs. Meanwhile, technology is becoming more of a crucial element in helping meet the growing workloads. The Business Journal’s Jane Yu recently asked several firms to talk about trends in supply and demand in the industry and about the pace of professionals entering the field, along with how the firms use and invest in information technology. Here are edited excerpts of their responses.

No Local Changes Seen After Medtronic Buy

HEALTHCARE: Q4 closing expected for $42.9B deal

Medtronic Inc. is likely to keep its Orange County operations basically intact, even after it wraps up a multibillion-dollar acquisition that could make it one of the top five medical device makers by local employment.