OCBJ WEEKLY EDITION
ECONOMY: Inventories, air shipments help blunt effects so far
Most Orange County-based companies that rely on seaborne shipments have so far managed to work around the labor dispute that’s jamming West Coast ports.
Adoption of Electronic Medical Records Prompts Diversification at Software Maker
Quality Systems Inc. has gone from darling to diversification, and the shift in gears looks to be giving the Irvine-based medical software maker and its shares a shot in the arm.
APPAREL: Expects to near $3 billion in sales by 2017
Kevin Bailey’s goals for Vans Inc. seem quite ambitious.
REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014
More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.
Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend
Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.
Less Risk, Fast Sales Appeal to Publicly Traded Firms
Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.
You heard it here first back in November, when the Insider picked up on vibes that Actavis PLC might take the Allergan name once it got its deal for the Irvine-based drugmaker done.
HEALTHCARE: Name better known than buyer in $71B deal
Actavis PLC’s recent decision to take on the name and ticker symbol of Allergan Inc. after it completes its $70 billion acquisition of the Irvine-based drugmaker next month brought plaudits from the local business community, where the move was hailed as a worthy acknowledgment and good business sense.
REAL ESTATE: Four offices total 365,000 square feet
Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.
San Clemente-based Oggi’s Pizza and Brewing Co. plans to mine the fast-casual trend as it also expands its full-service restaurants.
HEALTHCARE: Reform key context for research, report
How is the 5-year-old joint venture between nonprofit Hoag Memorial Hospital Presbyterian and a pair of doctors’ groups going?
HEALTHCARE: Continued role seen for group
Nonprofit hospital affiliations and network creation in the wake of federal healthcare reform have dominated Orange County’s hospital headlines in recent months.
REAL ESTATE: Gets low-rises in SoCal, 10-story Dallas office
Recent deals for three low-rise offices in Southern California capped off an active couple of months for Newport beach-based Buchanan Street Partners, which has also added a 10-story office in Dallas to its portfolio of recent investments.
CALL FOR ENTRIES: Website set to take entries until March 20
Is your workplace great? We want to know.
Raj Manufacturing LLC in Tustin acquired Basta Co., a New York-based swim and beachwear brand. The financial details of the deal were not disclosed.
Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.
Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.
The Simon Foundations in Newport Beach and Chapman University in Orange plan to offer scholarships to four high school students a year to major in science, technology, engineering and math (STEM) disciplines.
Top companies in Orange County have pledged their support to OneOC’s Center for Business and Community Partnerships.
Other items of interest Orange County Business Journal Vol. 38, No. 8
Irvine-based Mazda North American Operations announced the winners of its 2015 Mazda Gold Cup award—four of them based in Orange County.
Feb. 23-March 4, 2015
This week's business and other event listings.
HCP Says Nursing Home Operator Cooperating
Executives at Irvine-based HCP Inc. are standing behind their largest tenant, which is being investigated by the Department of Justice and several other federal agencies.
Campaign Includes ‘Brand Hubs’ in Big Metro Areas
Oakley Inc.’s new agency of record, Eleven in San Francisco, has come up with a new brand campaign for the Foothill Ranch-based action-sports apparel company.
The Mid-Counties industrial market saw a 47% increase in year-over-year gross absorption in the fourth quarter, or nearly 2.5 million square feet compared to roughly 1.7 million square feet.
Desired Skills Include SEC Filings, Pre-IPO Know-How
Is Irvine-based Vizio Inc. mulling an initial public offering?
Sales and leases of offices, industrial buildings, retail space and apartments
A private investor sold a 20-unit apartment building in Santa Ana to a limited liability company for $3.9 million, or $196,250 per unit.
Clarion, Pacific Industrial Buy Site From Greenlaw
Land in Brea that once held an RV storage facility is on the fast track to hold one of the city’s largest new industrial buildings.
Former St. John Knits Exec Teams With Tailor to Wealthy
Michael Gray, a former president at family business St. John Knits International Inc. in Irvine, has a new venture on his plate: David August Inc.
‘Rising Star’ Winner Trailblazer in Male-Heavy Field
Ann Fong’s 20-year path to her current role as chief financial officer for Incipio Technologies Inc. has had a few setbacks, to say the least—she was a single mom competing in a male-dominated industry, for starters.
$100M+ Deal Follows Big Lease for Hyundai Capital
The 4000 MacArthur office complex in Newport Beach has traded hands for more than $100 million, just weeks after the two-building property landed one of the largest tenants on the market.
REAL ESTATE: Buys Douglas Park land from Sares-Regis
Newport Beach-based Burnham USA Equities Inc. has bought nearly 30 acres of land next to Long Beach Airport where it’s planning one of the largest retail projects in the city in years.
The wealth management industry is undergoing various changes, ranging from implementation of technology and industry fragmentation to shifting demographics. The Business Journal’s Jane Yu asked Orange County wealth management executives to discuss significant changes they’re anticipating in the near term and how they expect their firms to respond to the changes. Here are edited excerpts of their answers.
Don’t know if this is a case of imprecise phrasing or a clue worth considering when it comes to the fate of the 67-year-old Allergan brand.
NONPROFITS: Bigger project could follow
The Orange County Rescue Mission is expected to close this week on two four-unit apartment complexes in Tustin for a reported $533,000 as it plans to pursue a bigger land deal this fall, looking to grow the number of beds it provides by one-third, from about 390 to about 520.
HEALTHCARE: $22M for blindness prevention medicine
San Juan Capistrano-based startup Allegro Ophthalmic LLC is aiming to take on a major cause of blindness and has an enriched war chest to do it with.
Irvine-based Toba Capital, headed by former Quest Software Inc. Chief Executive Vinny Smith, recently led a $15 million venture capital round for Sauce Labs Inc., a fast-growing provider of cloud-based Web and mobile application testing services.
CFO Helped Electronics Maker Hit $3.5B in Sales in Tough Market
Kurt Binder knew the books on Vizio Inc. well before he joined the company as vice president and corporate controller in April 2010.