5 Big Stories
Irvine Ranch became the country’s largest source of new-home sales; Great Park Neighborhoods, Rancho Mission Viejo and Lake Forest’s Baker Ranch were also among the 25-best-selling communities in the U.S.; and average new-home prices in Orange County veered closer to $1 million.
OC Job Growth a Mixed Message
The Orange County economy is facing both good news and bad in the coming year, according to Chapman University’s annual forecast.
REAL ESTATE: Roos gets OC, West; 1 spot for CalAtlantic
Lennar Corp. plans to install its own executives in the top spot in four of the five national homebuilding regions it will run after buying Irvine-based Cal- Atlantic Homes, according to company documents provided to the Business Journal.
Needle Point: Wednesday, Dec. 6, I was commended to read two books (in one year?) … “Reinventing the Administrative State” and “Financial Management Theory in the Public Sector,” –both apparently preach the same sermon: “When Money Talks, the Truth is Silent.”
REAL ESTATE: $165M securitization firm’s first
The acquisition of Veros Credit LLC’s Santa Ana headquarters is the latest piece of notable business this year for the family-owned auto finance company, which is taking steps to ramp up lending operations.
TECHNOLOGY: Digital work makes up for print decline
Toshiba America Business Solutions Inc.’s multimillion-dollar contract to outfit the StubHub Center in Carson with ultra-high-definition scoreboards and digital ribbon displays highlights one of the few growth markets in an otherwise flat sector challenged by the dwindling life of print.
FINANCE: Accounting firm’s penny stock audits scrutinized
Newport Beach-based Anton & Chia LLP, ranked on the Business Journal’s list of Orange County accounting firms, is disputing civil fraud allegations brought by the Securities and Exchange Commission involving penny stocks.
5 Big Stories
Western Digital Corp.’s decision to quietly redesignate headquarters from Irvine to Silicon Valley highlighted the ongoing challenge of scaling public companies and keeping them here.
Allergan PLC’s (NYSE: AGN) transfer of patents on its blockbuster dry-eye drug Restasis to a Native American Tribe in September is not only a top story this year, but one that will continue unfolding into 2018.
Top o’ the pops this year was every one of the 200,000 new square feet at Anaheim Convention Center and attendant growth in area hotel activity.
Who says bankers are dull? They aren’t in Orange County, not this year.
Orange County is home to five automakers, three of which had a moving 2017.
Plans to Strengthen US HQ as R&D Center
He pointed out that while the company is a relatively new player in the U.S.—it received Food and Drug Administration approval of its knee and hip replacement products in the early 2000’s but didn’t start selling in the U.S. until 2014—“we have a long history in providing innovative orthopedic implants and instrumentation product.”
EDUCATION: UCI trains for performing, management
Dance is less of a profession and more of a passion that draws artists early in life—and often down the road they’re encouraged to give up the passion for more practical endeavors.
On Oct. 14 Irvine Public Schools Foundation hosted its eighth annual Spirit of Excellence Gala at KIA Motors America.
Site to Support 2020 Global Commercialization
Aerie Pharmaceuticals Inc. (NASDAQ: AERI) continues to ramp up in anticipation of upcoming Food and Drug Administration approval of glaucoma drug Rhopressa.
Chosen to Be One Of 60 Curators of Playlists
House of Vans, a string of music venues hosted by Vans Inc. in Costa Mesa, is now one of more than 60 curators for Apple Music, tasked with perusing 40 million songs available on the streaming platform and developing playlists that its audiences would appreciate.
$44M Yorba Linda Site Offers Half-Acre Lots
Toll Brothers Inc. is adding another high-end housing development to its Orange County portfolio.
Allows Providers To Remotely Access Vehicles
Hyundai Motor America Inc. in Fountain Valley and Silicon Valley-based Smartcar Inc. will launch a pilot program early next year in Southern California to provide Hyundai car owners with on-demand services from various businesses, including mobile car washes, and grocery and fuel deliverers.
Startup Bets People Want Things ASAP
Irvine-based accelerator Cie Digital Labs and auto industry veteran James Chen are betting on the fact that today’s consumers want things ASAP—as soon as possible—including tire installation service.
Sales and leases of offices, industrial buildings, retail space and apartments
Jon S. and Marcia West sold an apartment building in Fullerton to Rengert Family Trust for $1.4 million, or $350,000 per unit.
Other items of interest Orange County Business Journal Vol. 40, No. 50
California State University-Fullerton said Kari Knutson Miller will replace Anil Puri as provost and vice president of academic affairs on Jan. 1.
MANUFACTURING: Lifts firm out of implosion
Ed Laird’s company was in trouble a decade ago. And his health was suffering, too.
67% Leased; Some Shops Not Paying Fixed Rents
The Anaheim GardenWalk shopping center is up for sale for the second time in five years.
Donors Boost Giving To Assist Homeless
The issue of rising homelessness was one of the keys to a 7.2% boost in revenue among nonprofit organizations in Orange County.
RESTAURANTS: Casual chain points to $300M
Lazy Dog Restaurant & Bar in Huntington Beach took 15 years to get to 25 restaurants.
TECHNOLOGY: Skyworks’ auto IoT gambit lauded by analysts
Skyworks Solutions Inc.’s latest design wins with Shenzhen-based ZTE Corp. will boost its position in the world’s largest market for connected vehicles and elsewhere amid a diversification effort welcomed on Wall Street.
Breaking at press time … Newport billionaire Ron Simon sells RSI Home Products to Va-based American Woodmark … $1.08B, in stock, cash, debt assumption … Simon founded his Anaheim cabinet-maker in ’89, products widely respected for high-quality and value—on pace for $560M sales ‘17.
HEALTHCARE: Board to add manufacturing experience
Less than six months since investors issued a public statement calling for Peregrine Pharmaceuticals Inc. to cease clinical development activities of its cancer drug and focus on growing its biologics manufacturing business, the company is well on its way to completing the transition.
HEALTHCARE: Kingston’s John Tu among investors
Ever since scientists discovered stem cells are capable of self-renewal, making an unlimited supply of specialized tissue, the promise of using them to treat a variety of diseases has captured many people’s imagination, including serial entrepreneur Tom Yuen.
AUTOMOTIVE: Supercar’s developers target world’s elite
Clive Hawkins believes in two ways to mark any 21st birthday.
REAL ESTATE: $65M sale big boost from $39M valuation
The new owners of the former Los Angeles Times printing facility in Costa Mesa are switching up redevelopment plans of the 24-acre site next to the headquarters of the Los Angeles Chargers, with a “high-end public market” concept alongside previously planned creative-office uses.
Apartments Next For Popular Corridor
One of the biggest property owners in the core of downtown Santa Ana intends to parlay the popularity of its East End district and 4th Street Market food hall into a residential play to attract more millennials, especially entrepreneurs.
New Marche, Prego; Crack, Country on 17th
Welcome to our new executive dining column.
Submitted Final Trial Results to FDA Regulators
Hopes are high for Irvine-based Ivantis Inc., which anticipates receiving market approval from the Food and Drug Administration next year for its Hydrus Microstent.
Developed With CarLabs To Follow NiroBot
Kia Motors America Inc. just upped its chatbot game.