Orange County Business Journal

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.

By Kari Hamanaka February 15, 2014 midnight   $$ Share

OC’s First Din Tai Fung and Other Worthy Food Adventures

Chinese Dumpling House Delights With Each Morsel

Din Tai Fung, the famed Chinese dumpling house, opened two weeks ago at South Coast Plaza (entrance on the upper level next to Sears). I surmise that, having heard the buzz about its international reputation, the crowds will flow.

How Thompsons Took Up Cause

Daughter’s Accounts of Autism Led Pimco Vet, Wife on Journey

What happens when an executive who spent a career trying to stay ahead of where markets might move hears a story that leads him on a different journey?

Segerstrom Center’s Street Smarts

Education Programs Aim for Neighborhoods

Luis Castillo experienced something entirely new when he was touched by the Summer at the Center program back in 1994.

St. Joseph Health Backs Big Office Buy in Mission Viejo

HEALTHCARE: Innovation Institute gets four buildings, 263,000 SF

The Innovation Institute LLC, a La Palma-based for-profit healthcare company formed by St. Joseph Health in Irvine last year, has taken over ownership of four medical buildings surrounding Mission Hospital in Mission Viejo.

Amway Bolsters OC Operations With $42M Investment in Nutrilite

MARKETING: Manufacturing, R&D upgrades in Buena Park

Amway Corp. is expanding the Buena Park operations of its Nutrilite supplements brand with a $42 million investment for new manufacturing and research facilities.

Next Generation of Philanthropists Changes Giving

Savvy, Tech-Smart Gen Y Maps Out Its Own Way

Look who grew up. Generation Y, born roughly between 1980 and 2000 and also known as the Millennials, is leaving its mark on everything it comes into contact with, and that includes philanthropy.

Freeman’s Long Road to Philanthropy Day Observance

Reagan Proclamation Came After Years of Efforts

On Nov. 14, 1986, President Ronald Reagan took the podium in a room crowded with reporters, photographers, and camera operators, ready to make a proclamation about an event five years in the making.

Private Foundation Giving Up Overall, Down in OC

40 Give $33M Locally Last Year, Down 9.3% From ’12

Private foundations based in Orange County gave $156.2 million overall based on their most recent data compared to $128.7 million a year ago—21.4% higher—but their local giving was down, according to data compiled by the Business Journal.

Corporate Giving Generally Up Fourth Year Running

Foundations, Firms’ Charity Arms Give 3.1% More OC Cash

Total cash giving by 35 corporate foundations and company charitable arms active in Orange County dropped 6.4% from a year ago. But discounting two major, one-time giving efforts in 2012 from the largest giver on that year’s list, Wells Fargo & Co. there was a fractional boost for the year—the fourth straight of positive increases, the Business Journal’s list shows.

Callahan v. Busch; Check Pyott’s Sleeve; Full of Philanthropy

The Dec. 18 date that’s been set for a special shareholders meeting on Valeant Pharmaceuticals’ hostile bid for Irvine-based Allergan didn’t add up to much on Wall Street, where neither company saw its shares do much last week.

Prescription for Open Enrollment Season: 700 Hires

HEALTHCARE: Alta Resources seeks permanent, seasonal staff

Alta Resources Inc. is bringing its Brea office along on a major expansion, with plans to hire some 700 workers there.

Newport Beach Hotel Software Specialist in China Buy

HOSPITALITY: Healthcare, restaurants, golf also clients

A Newport Beach-based software provider that specializes in the hospitality industry expanded its operations in China last week with the acquisition of a company in Singapore.

Another Bank Sets Up HQ in Irvine

FINANCE: CBC buys building for move from Costa Mesa

Commercial Bank of California has moved its headquarters from Costa Mesa to a building it has purchased in Irvine.

Lake Forest Lender Taps Treasury on $100M Bond Issue

FINANCE: Proceeds pegged for community development projects

A Lake Forest-based lender primarily focused on community development has received $100 million through bond debt backed by the U.S. Department of the Treasury and targeted for use on projects in low-income and underserved areas.

Corinthian to Sell Assets in Wind Down

Santa Ana-based Corinthian Colleges Inc. said it would sell some assets to raise money to fund the winding down of its operations and, separately, that it had paid back rent its landlord said it owed.

NB Services Firm Bought by DLC

Beacon Resources LLC in Newport Beach was acquired by Woodland Hills-based professional services firm DLC on undisclosed terms.

Billabong to Sell Swell.com in Irvine

Australia-based Billabong International Ltd. said it plans to sell its surf apparel retailer Swell.com in Irvine to a consortium of investors in a spinoff that also includes a 51% sale of SurfStitch, its other e-commerce business.

Texas Firm to Buy OC Device Maker

Aliso Viejo-based WaveTec Vision Systems Inc. will be bought by Alcon Inc., according to a statement.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 35

Southwest Airlines will start nonstop flights beginning Nov. 2 from John Wayne Airport to Dallas.

PHILANTHROPY

David Wilson’s Wilson Automotive Group donated a Toyota Prius c to Orangewood Children’s Foundation to celebrate the sale of its 500th car.

OCBJ Calendar

Sept. 1-10, 2014

This week's business and other event listings.

Edwards Lifesciences Continues Wall Street Resurgence

Analysts Like Its Recent Showing, Suit Settlement

Irvine-based heart valve maker Edwards Lifesciences Corp. received kudos on Wall Street as it continues its yearlong market surge.

Kia Hamsters Bring on Geek Chic With New Ad

Brains, Female Enter Mix Of Popular Marketing Stars

Ever wonder who designed Kia Motors America Inc.’s first electric vehicle?

ViewSonic Shows Off HQ as It Makes OC Its Home

Brea Building Showcases Tech Firm’s Offerings

ViewSonic Corp.’s new 25,000-square-foot headquarters in Brea was designed to showcase the company’s new line of touch-screen projectors and virtual desktops that are drawing strong demand in the classroom and at businesses.

real estate deals

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

Civic Center Professional Building Inc. sold an office building in Santa Ana for $12 million to BW America Development LLC.

Large Occupiers Drive Mid Counties Industrial Market Strength

The Mid Counties industrial market hit a turning point in the second quarter as strong demand pushed supply to its lowest level in six years.

Furniture Maker Expands With $12.6M Fullerton Buy

Michael Nicholas Puts Buena Park HQ on Market

Michael Nicholas Designs Inc., a family-owned furniture manufacturer in Buena Park, is expanding its manufacturing operations after buying a big industrial building in Fullerton.

Aggregate Anchors

Centers Turn to Clusters of Restaurants as Drawing Cards

Developers and owners of Orange County’s retail centers are increasingly going small and thinking with their stomachs to attract customers.

Downtown Santa Ana’s Next Act

Food Hall Latest Twist for East End

The developer who’s driving downtown Santa Ana’s makeover is doubling down on dining.

Lyon Communities Reaches Peak in Silicon Valley

REAL ESTATE: Tops price for big OC complexes by $100,000 per unit

A bet on Silicon Valley’s apartment market has paid off handsomely for Newport Beach-based Lyon Communities.

Blizzard Plays Cards Right With Hearthstone

TECHNOLOGY: Free game on pace to bring in $100M in 1st year

Blizzard Entertainment Inc.’s first foray into free-to-play video games is turning into a big moneymaker.

Last Holdout in Recovery: 100,000-SF-Plus Deals

Few Leases for Big Chunks of Contiguous Space This Year

The Orange County Social Services Agency practically has the market to itself as it explores a headquarters move from 888 N. Main St. in Santa Ana.

Retail Market Continues Slow Recovery

Retail sales continued to gradually improve in the second quarter, aiding the U.S. economy as local retail markets kept moving toward a full post-recession recovery.

Office Market Continues on the Upturn

The Orange County office market continued its healthy performance in the second quarter, indicating market stabilization and a positive trajectory, with possibly the most significant trend being the current progression of average asking lease rates.

Industrial Market Posts Healthy Q2

The activity levels for the Orange County industrial market remained healthy in the second quarter, with approximately 2.2 million square feet of gross activity.

Ups & Downs for Allergan; Devil of a Case; Augie on Ice

Last week had some wags wondering if Allergan CEO David Pyott might be forced into an error by spending too much on an acquisition in hopes of putting the Irvine-based drug maker out of reach of hostile pursuers Valeant Pharmaceuticals and New York hedge funder Bill Ackman.

Gallegos Crosses Over for Milk Board’s Campaign

MARKETING: Works on par with Goodby on $20M effort

Grupo Gallegos has crossed over the demographic divide to work hand in hand with one of the best-known agencies in advertising on the California Milk Processor Board’s new $20 million ad campaign.