OCBJ WEEKLY EDITION
Laguna Hills Nonprofit Gets Body Shops Ready for Ford’s New Truck
The all-aluminum Ford F-150 trucks are set to roll off dealer lots next month—and you can bet that some will wind up in body shops before the new-car scent wears off.
MEDIA: Crowd of 25,000 hears about 1st new franchise in 17 years
Blizzard Entertainment Inc.’s latest game in development marks another milestone for the Irvine-based company as it continues to offer new types of games in an ambitious schedule of product releases.
REAL ESTATE: Would be 6th trade in 7 years for Costa Mesa office
Stop us if you’ve heard this one before: The distinctive Costa Mesa office that once held the headquarters of ICN Pharmaceuticals Inc. and later Valeant Pharmaceuticals International could soon have a change in ownership.
HEALTHCARE: Could arrive at special meeting with two offers
A new bidder has brought a decidedly different tone to talks on a takeover of Irvine-based Allergan Inc.
REAL ESTATE: Adds mortgage, title services in wake of Weyerhaeuser deal
TRI Pointe Homes Inc. continues to build the foundation of an ambitious growth plan in 2015, despite some lingering questions over the health of the national homebuilding industry.
The Business Journal’s Jane Yu asked local bankers to discuss their and their clients’ thoughts on how to manage operations in a changing interest rate environment, where rates are expected to rise. Here are edited excerpts of their responses:
23 Together See 35% Rise To $18.5 Billion In Year
Orange County-based commercial banks have notched the biggest year-over-year asset growth in the ongoing economic recovery and even since the few years prior to the recession.
Group’s Assets to $16.9B, Despite Declines for Most
Orange County’s credit unions built assets at a faster clip over the past year, when the biggest of the group pulled most of the gains.
Are the powers that be rethinking the fate of the two hangars on the former Marine base in Tustin now that Google has signed a 60-year lease worth $1.2 billion for a similar structure and several others on surrounding grounds in the Silicon Valley?
RESTAURANTS: Recent growth, timing of offering look favorable
The Habit Restaurants Inc. in Irvine appears to have a number of factors working in its favor for an initial public offering that’s expected sometime this week, including some that reflect its strong run of recent years and others that indicate the chain is well-positioned for the future.
TECHNOLOGY: Pact with Quantum could bring stake in IP
Quantum Fuel Systems Technologies Worldwide Inc.’s new deal to supply key vehicle operations software for the relaunch of the Fisker Karma and potentially other models rekindles a relationship that had soured before the luxury automaker crashed two years ago.
HOSPITALITY: Show also hosts media on day before opening
The National Association of Music Merchants plans a “Retail Boot Camp” for music retailers on the day before its Jan. 22-25 show at the Anaheim Convention Center.
RESTAURANTS: Approach allows fast growth at limited cost
Small local restaurant companies plan to expand by franchise in 2015.
EDUCATION: Placements, demand for training strong
Caleb Everett said he has put $1 million into Career College of California and taken no salary since his Fortuna Education LLC bought it in 2010.
Irvine-based chipmaker Broadcom Corp. made its long-rumored move to Great Park Neighborhoods official, agreeing to buy land to build a 1.1-million-square-foot corporate headquarters. A price wasn’t disclosed.
Too Faced Cosmetics LLC in Irvine “is exploring a sale that could value it at several hundred millions of dollars,” according to Reuters.
Aliso Viejo-based device maker OrthAlign Inc. completed a $15 million round of funding. The company makes devices used in orthopedic procedures.
Quiksilver Inc. sold online retailer Surfdome.com in the United Kingdom to Australia-based rival SurfStitch for $16 million.
Other items of interest Orange County Business Journal Vol. 37, No. 46
Knott’s Berry Farm in Buena Park will introduce a 4-D interactive ride next year in its Boardwalk section. Voyage to the Iron Reef riders will play the role of trying to rescue the park from mechanical sea creatures attempting to destroy it.
Post-Downturn Burst Has Cooled to Stable Market
Consumers, after watching the crash of the housing market in 2008, are wary of another “bubble.”
Preventable Patient Deaths ‘Makes You Choke Up’
A major supporter of the patient safety movement led by Irvine-based Masimo Corp.’s Chief Executive Joe Kiani stopped by Orange County this month.
Tickets to College Playoff Games Part Of Giveaway
Taco Bell Corp. has teamed up with ESPN Inc. to give college students a chance to cheer on their teams at this season’s College Football Playoff games from the Live Más Student Section.
Nov. 17-26, 2014
This week's business and other event listings.
The third quarter in the Mid-Counties industrial market continued where it left off at the end of the second quarter, whose strong demand pushed levels of supply to their lowest in six years.
Adds to List of Customers That Includes DirecTV
Irvine-based smart technology provider Greenwave Systems has developed a router for Verizon Communications Inc.
Sales and leases of offices, industrial buildings, retail space and apartments
The Higgins Trust sold an office and residential building in Orange to a local investor for $2.3 million.
18-Acre Canyon Property Could Be Redeveloped
Another big property of AT&T Inc. in Anaheim is up for sale.
REAL ESTATE: Takes full floor at Irvine Company’s newest office
Bill Gross might have the highest profile among the first batch of tenants at Irvine Company’s newest office building in Newport Center, but Stifel, Nicolaus & Co. can claim the highest perch at the 21-story building.
An investment group that includes Irvine-based real estate investor and developer Greenlaw Partners is nearing a deal to buy the massive Bank of America office campus in Brea.
China-Based 361° Aims for U.S. Share From Irvine HQ
361° International Ltd.’s recent arrival to the U.S. market is another step toward the China-based footwear and apparel company’s ultimate goal: becoming a top five global sports brand in a short period of time.
Laguna Hills Nonprofit Taps Business on Mission to Heal
U.S. Marine Sgt. Chris Merkle was one of 20 infantrymen crowded into the back of an unarmored 7-ton truck as it sped along an unmarked dirt road one moonless night headed toward Baghdad.
James Toth was living with his parents and working odd jobs for cash that offered little security and no future.
A trot around the South Coast Metro district that covers corners of Costa Mesa and Santa Ana reveals several sizeable chunks of property in a state of flux.
‘Opportunistic’ Real Estate Scarce, Competition Stiff
Opportunity is still knocking for many of Orange County’s most active commercial real estate investors of the past five years, but it has required a decided shift in strategy.
The office market continues to experience positive momentum, pushing toward a full recovery. Occupancy levels are steadily improving due to constant demand, moving the market to near prerecession conditions.
Orange County’s industrial market continued to record healthy levels of activity in the third quarter, ending with 2.8 million square feet of gross activity and resulting in 208,021 square feet of positive net absorption.
MARKETING: Electronics outfit in Irvine lands sponsorship
Diversified electronics maker Toshiba America Business Solutions Inc. is supplying digital displays for LA Interactive, a new section of the Staples Center that opened over the weekend.