OCBJ WEEKLY EDITION

Preferred Outcome

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

Market Concerned About Sabra REIT’s CCP Buy

But Company Plans To Go Forward With Deal

Irvine-based Sabra Health Care REIT Inc.’s $7.4 billion all-stock merger with Care Capital Properties Inc. in Chicago—which will create a company with a portfolio of 546 investments across 43 states and Canada—faces some headwinds after proxy advisory firm Institutional Shareholder Services Inc. recommended Sabra shareholders oppose the acquisition.

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Veritone Takes AI-Centric Business to Costa Mesa

New HQ at The Met Follows May IPO

Artificial intelligence technology and media firm Veritone Inc., fresh off an initial public offering in May that raised $37.5 million, is moving its headquarters to a larger space in Costa Mesa.

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Fashion Island at 50

‘You had to dream a lot’ in ’67

Every pair of shoes Tom Gazsi wore until he reached high school, his parents bought at Dick Marowitz’s Newport Children’s Bootery at Fashion Island—“Adidas, saddle shoes, dress shoes, everything!”

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OC’s PR Shops Grew in Past Year

Social Media, Digital Storytelling in Toolset

The role of public relations professionals is changing—even the president is tweeting daily, bypassing the media.

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Industrial Deal Puts Sears’ OC Sales Near $228M

LBA Buys Big Industrial Site on Warner For $41M

An affiliate of struggling retailer Sears Holdings Corp. has sold a second sizable Orange County property in less than a month, the Business Journal has learned.

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Kush Bottles High on Pot Industry

Company Predicts Fast Sales Growth

Kush Bottles Inc. of Santa Ana has a $110 million market cap and a chip on its shoulder.

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Accelerators Help Bridge County’s Vast Sprawl

Jumpstart Companies By Various Means

Accelerators play a multifaceted role in any startups ecosystem, providing access to investors and mentors and helping companies scale.

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Entrepreneurs Stars of Livestreamed Show

MyStartup.Live Focuses On Founders’ Passions

A public relations and marketing expert harnessed the passion around Orange County startups into a weekly livestreamed show that debuted in June.

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OCInsider

Not all Retail is roiled

Marijuana is a criminal, gateway drug. Marijuana should be legal in 50 states and the Marshall Islands. Or … something in-between. Regardless of your take, you’ll enjoy Peter J. Brennan’s stories on Kush Bottles, a publicly traded everything-but-cannabis, cannabis co. Kush opened in 2010.

FivePoint Goes Commercial With $443M Irvine Deal

REAL ESTATE: Broadcom site renamed; Irvine Co. model eyed

FivePoint Communities Inc. has completed the blockbuster $443 million purchase of Broadcom Ltd.’s campus where construction is wrapping up in Irvine.

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Businessman Eric Davidson, Breakers Live the Dream

SPORTS: Team rewards owner, fans, sponsors with televised title

Orange County’s professional tennis team is looking to build momentum off the court after winning the Mylan World TeamTennis championship under first-year owner Eric Davidson.

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CombiMatrix To Be Bought By Year-End

HEALTHCARE: SF-based InVitae grows family health

CombiMatrix Corp. announced InVitae Corp. in San Francisco is acquiring it. It’s an all-stock deal expected to close by the end of the year, valued at $33 million to CombiMatrix stock and warrant holders.

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Q & A

The Business Journal’s Paul Hughes asked hoteliers to highlight a key technology change they’ve made this year at their properties or companywide to enhance service levels—how it fit into their market positioning, whether it taps national trends, and any obstacles they faced in making the changes.

Cities Tap Into Their Fun Sides to Promote Themselves

Market Existing Points Of Interest to Potential Visitors

They won’t change the name—Surf City it is, and Surf City it ever shall be—but Huntington Beach marketers told the Business Journal they’re preparing to market the locale to travelers based on fun of all types.

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Hotel Construction Mostly Small World for Meetings

Properties Coming Soon For Smaller, Local Clients

Local data show at least eight Orange County hotel projects are under way, several that are scheduled to open in the next six months, and most notable for something they’ll have in smaller amounts than just about any property in OC: meeting space.

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EVENTS Calendar

Our list of conventions, trade and consumer shows, and other happenings includes events scheduled from Aug. 14 through July 31, 2018.

Pacific Premier Acquires Plaza Bancorp

Irvine’s Pacific Premier Bancorp bought Irvine-based neighbor Plaza Bancorp in an all-stock deal for $226.3 million. The acquisition values Plaza at $7.29 a share.

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Hotel Sales So Far Outpace 2016 Deals

Sixteen Orange County hotels sold for more than $372 million in the first six months of the year, an average of $23.3 million and 201% higher by dollar volume year-over-year, according to hotel broker and consultant Atlas Hospitality Group in Irvine.

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Del Taco Appoints Marketing Exec

Del Taco Restaurants Inc. in Lake Forest named Barry Westrum chief marketing officer. He takes on duties previously overseen by John Cappasola Jr., who became chief executive of the fast food chain in July.

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Mining for New Business

RETAIL: Newport’s Lugano went retail in ’05, east in ’17

Aspen’s the new spot to get Lugano Diamonds’ designs. The Newport Beach-based luxury jeweler opened its third salon in the Residences at The Little Nell, a mixed-use complex a stone’s throw from the ski slopes.

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New Co-Working Space Joins OC’s Startups Scene

Space’s Ambience European-Inspired

A new co-working space is tentatively scheduled to open in Irvine in November. Spaces, with North American headquarters in Dallas, has signed a lease to occupy approximately 34,000 square feet of office space on two floors at 17875 Von Karman Ave.

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Chain Plugs Into Xbox Love With Sweepstakes

Taco Bell Corp. in Irvine, in collaboration with Microsoft Corp., is giving away an Xbox One X gaming console to consumers who text a code found on its Steak Quesarito $5 box. A winner will be notified every 10 minutes from Aug. 31 to Oct. 4.

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OCBJ Calendar

August 14-23, 2017

This week's business and other event listings.

San Clemente Site Looks to Add Hotel, Restaurants

Land Next to Outlets Mall Trades for $10 Million

A long-awaited hotel project at San Clemente’s Marblehead Coastal property appears to be taking steps toward construction.

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CEO: Microsemi Surge Reflects Market Share Gain

Chipmaker’s Sales Rose In Three of Four Segments

Aliso Viejo-based chipmaker Microsemi Corp. turned in a strong June quarter, growing sales in three of its four key markets.

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Real Estate Deals

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

C-III Realty Services sold Tustin Corporate Center in Tustin to Harbor & Associates for $3.2 million, or $75 per square foot.

Mapping Technology Firm Moving Irvine HQ to URP

REAL ESTATE: Digital Map move follows VC funding, buy

The latest technology tenant that Irvine Co. has landed to replace Broadcom Ltd. at University Research Park shouldn’t need help with directions to its new headquarters.

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With Partner H.I.G., Trace3 Could Go Big

TECHNOLOGY: ‘Very deep pockets ... a very good thing’

Irvine IT services provider Trace3 could change its long-held growth strategy under the financial muscle of new private equity owner H.I.G. Capital.

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No Land, No Problem For Developer Western Realco

$40M in Buys Kick Off 1-Million-SF Beckman Project

Western Realco isn’t the only game in town right now when it comes to industrial development in Orange County.

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Canterbury Tries to Reallocate Expectations

FINANCE: Advisory says endowments reporting good FY ’17

It was a good fiscal year for the endowments of many charities.

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Another Sleep App Competes for Your Zzzz Time

SlumberType Looks At Genetics of Sleep

Rancho Santa Margarita-based DNA lifestyle company launched its first app. Exploragen’s SlumberType provides insights on the way sleep is influenced by genetics.

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Stance Tests New Markets, Sales Models

APPAREL: Seeks higher margins, VCs still believe

Stance Inc.’s bricks-and-mortar portfolio has expanded to six—all carefully curated locations.

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Site of Ex-Vans HQ Now Primary Color’s

RETAIL: Printer consolidating operations to improve efficiencies

Primary Color Systems Corp. plans to move its operations to Cypress—to the office and warehouse complex that Vans Inc. called home for a decade before moving to Costa Mesa this summer.

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Ambassadorship Reportedly to Roberts

GOVERNMENT: Co-owns Mission Inn; couple GOP donors

It’s a time-honored government tradition—patronage has its privileges, as does friendship and policy kinship.

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When 95% Equals Nothing

Anthony Maglica is shining a big flashlight on CA’s manufacturing rules.

Apparel Firm Bought for $126 Million

TravisMathew LLC in Huntington Beach was sold to Carlsbad-based Callaway Golf Co. in a $125.5 million cash-and-debt deal expected to close in the third quarter.

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Real Estate Seller Sold for $1B-Plus

Ten-X LLC in Irvine will be bought by private equity firm Thomas H. Lee Partners LP in Boston for more than $1 billion, news reports said.

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