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.

Museum Site Project Plans Scaled Down

REAL ESTATE: Vivante senior homes on table for NB

Plans are under way to build a high-end senior living facility on the site of Orange County Museum of Art in Newport Beach, where the museum has been since the late 1970s.

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For 35 Years, an OC Immigrant Success Story

Now Charlie Zhang Pursues His Dream

Charlie Zhang built his fortune in the restaurant business when he started fast-casual chain Pick Up Stix in 1989 in Rancho Santa Margarita—growing to 100 locations, then selling it in 2001 to TGI Friday’s owner Carlson Restaurants Worldwide for $50 million.

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Mortgage Modernizer Raises $50M in Latest Capital Round

STARTUPS: Cloudvirga pledges OC’s growing fintech fraternity

Irvine-based startup Cloudvirga Inc. has attracted big-name customers and backers as it aims to modernize a mortgage industry steeped in manual processes more than a decade old.

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Still In The Picture

Cuts at Headquarters Meant to Fuel Growth

Vizio Inc. has downsized its Irvine operation and is in jeopardy of losing its long-held No. 2 position in flat-panel TV sales in North America.

City National On Hunt for Executives

FINANCE: CEO outlines plans for OC expansion

City National Bank wants bankers, wealth managers and other financial executives in Orange County to know one thing.

Barry Family Engineers Firm That Stands Time’s Test

64-Year-Old Business Shows Their Teamwork

Bob Barry decided a decade ago to emphasize more family values at his dozen-employee firm, John Barry & Associates.

Bob’s Watches CEO Calls Site Marketing Company

It’s Top Online Seller; Seeks Larger Headquarters

“First, I am not Bob,” said Bob’s Watches owner Paul Altieri.

They Feed Others From the Overflow of Kinship

Foodmakers Live Traditions, Ventures

Family-owned food enterprises naturally have a special something in their recipes.

Acorns Still Grow Here

World’s largest investment manager BlackRock Inc. just took an “anchor stake” in Irvine-based fintech Acorns, micro-investing app with 3.3 million customers robo-investing their change on every purchase—often into Black Rock managed ETFs.

Orange Offices Eyed for Rentals, For-Sale Homes

A seven-building office complex in Orange near MainPlace Mall in Santa Ana has been proposed as the site of a large residential complex featuring rental units and for-sale homes.

Endologix’ New Chief Refocuses Firm on Quality

HEALTHCARE: Positive momentum; foresees FDA OK

The past couple of years have been difficult for Endologix Inc. (Nasdaq: ELGX), but conditions appear to be improving at the Irvine-based medical device maker, with a repositioned portfolio and a new leader at the helm.

Irvine Co. Adds To Spectrum Mix

REAL ESTATE: 4th Thales building in landlord’s portfolio

Irvine Co. has bought one of the largest commercial properties in the Irvine Spectrum that it didn’t already own, an office used by the in-flight entertainment division of Thales USA Inc. for its domestic headquarters.

Tustin Legacy Mixed-Use Project Slimmed Down

REAL ESTATE: Blimp hangar now out of Brookfield plans

Plans for an ambitious mixed-use project at the Tustin Legacy development have been scaled back, with the city now planning to oversee reuse of one of the base’s two iconic blimp hangars rather than a private developer.

Size Doesn’t Matter in Corporate Civic Engagement

Just Ask 2017 Honoree Teacher Created Materials

Last year, for the first time in a local market, the Business Journal presented the 2017 Civic 50 Orange County in partnership with OneOC, recognizing the 50 most community-minded small, medium and large Orange County companies.

Community-Minded Companies Wanted for Our Annual List

CALL FOR ENTRIES: Website will take entries through June 29

Is your company about much more than its bottom line? Does it also use its resources to better the Orange County community?

Women-Owned Businesses Wanted for Annual List

CALL FOR ENTRIES: List will be centerpiece of July 9 edition

Is your company women-owned? The Business Journal wants to hear from you.

Blue Shield Steps Up to Care for Chronically Ill

Brings on Landmark To Provide Home-Based Care

Care is moving homeward, driven by patient preference and more importantly, cost.

Music Streamer in NB Makes Music With Distributor

Edge, MondoTunes To Put Songs on Big Channels

Music video streaming service Edge Music Network wants to help users reach more fans and make more money.

Newport Beach’s Newest Hotel Hub for RE Execs

Lido House Busy With OC Dealmakers

Looking to do a real estate deal and need a partner?

Veritone’s Q1 Mixed as It Tries to Leverage AI

Revenue Rises Over 40%, Mostly on Media Business

Veritone Inc.’s latest quarterly report produced a mixed bag of results for the wildly traded Costa Mesa company trying to crack into the booming but highly speculative artificial intelligence market.

Trio’s Line Aims to Make Monthly Cycle Less Painful

Rael Raises $2.1 Million In Preseries A Round

Buena Park-based startup Rael wants more women to talk about their periods, and investors are listening.

Agents Explore the Gender Divide in Real Estate

Five Longtime Female Realtors Share Insights

According to the National Association of Realtors, 63% of Realtors in the U.S. are women—a marked contrast to representation of women in commercial real estate—not just brokerage, but all segments.

Pack to the Future Part 2: Drone delivery service could be last-mile game changer

Hover boards and flying cars may still be a long way off, but forward-thinking e-commerce giants have made huge strides in newer and more efficient delivery methods. Autonomous drones are viewed as the way of the future, and many companies and communities are already pushing to turn science fiction into reality.

Real Estate Deals

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

Izhak and Dalia Termeforoosh sold a retail building to Blake Megdal for $2.4 million, or $815 per square foot.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 21

Eran Cohen was appointed chief executive of Irvine-based luxury label St. John Knits, succeeding Bruce Fetter, who retired after more than 15 years.

Legacy Tech Vets Go AI With Chip Startup

TECHNOLOGY: Raise $5M, plan new VC round with big backer

An Irvine-based startup led by former Broadcom, Mindspeed Technologies and Lantronix Inc. executives has emerged with backing from the world’s largest chipmaker and its first deal.

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Costa Mesa’s Plaza Tower Gets Flurry of Leasing

REAL ESTATE: IBM renewal among largest deals this year

Plaza Tower, one of Costa Mesa’s best-known and swankiest offices, has experienced nearly 100,000 square feet of leasing activity from a variety of tenants over the past few weeks.

This CTO Enjoys Problems

Wang Pushes Hot Startup AutoGravity Into Future

Sheng Wang likes to overcome obstacles. An advertising platform for eBay Inc.? Check. Walt Disney Co.’s first apps for its amusement parks? Check.

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Ex-Allergan Aesthetics Unit Head Joins Evolus

HEALTHCARE: Wants to make drug big-brand contender

Wall Street is pleased with Evolus Inc.’s (Nasdaq: EOLS) new president and chief executive, David Moatazedi, as shares of the company shot up more than 40% since the news broke on May 7.

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Flight Paths: Region’s Airports’ Airline Mix Shifts

TRANSPORTATION: Ontario to China; Long Beach to Hawaii

Orange County-area airports have experienced recent shifts in air carrier mixes and routes due to changes related to ownership, operations and government actions.

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Designing Plan to Fit Changing Advertising Model

Hoping Merger of Unequals is Savvy Move

A mix of wine, appetizers and sketches on a napkin sparked a merger between Costa Mesa-based advertising agencies Sunday Brunch and Irvine-based Gigasavvy.

Lido Revival Continues With Projects Near Water

Slew of Development Revives Peninsula Area

When Lido House, Newport Beach’s first newly built hotel in a decade, held its grand opening ceremony last month, the property was given a blessing by the Rev. Canon Cindy Evans Voorhees of the neighboring St. James Episcopal Church.

Lease Rates Hit All-Time High in Q1

The average monthly Orange County asking lease rate increased 2 cents to $2.90 per square foot in the first quarter, driven by supply constraints that spurred steady demand. Asking rates were the highest ever, though the impact was mitigated by larger tenant improvement packages that offset rising construction costs associated with demand for premium amenities.

Industrial Market Picks Up in Q1

Last year ended on a sour note, but Orange County’s industrial market bounced back nicely in the first quarter, garnering plenty of attention as occupancy gains improved. With an ever-shrinking industrial base and no significant new product delivered, rents continued to increase.

Magic The Toastmaster

Bob Olson isn’t running for office in his hometown of Newport Beach, but good luck finding someone more popular in the city these days.

Record Price for New Anaheim Industrial Site

REAL ESTATE: Fund manager gets Rosendin’s new SoCal HQ

The sale of a fully leased new industrial building in Anaheim has apparently set a new high-water price point for large Orange County warehouse and distribution properties.

TherOx Raises Debt In Hopes of Launch

HEALTHCARE: 20-plus years later, device co. plans for FDA nod

Irvine-based TherOx Inc. secured debt financing this month from existing investor Zoll Medical Corp. to support a limited launch of its SuperSaturated Oxygen therapy system upon receipt of Food and Drug Administration approval.

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