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

Apartments Draw Premium in IBC

REAL ESTATE: $112 million would be highest price since 2013

A spate of apartment development going up on Jamboree Road in Irvine doesn’t appear to be scaring off investors looking for existing complexes in the same area.

OC Schools Aim to Fill Key Rx of Reform

EDUCATION: Pharmacy programs in various stages at 3 universities

Three local universities want to launch pharmacy schools here, and they would join six others in Southern California and a total cadre of 11 statewide.

OCMA Still Plans Move to Segerstrom Land

ARTS: Sale, price of current location could be trimmed

Plans to relocate the Orange County Museum of Art to a new facility at the Segerstrom Center for the Arts in Costa Mesa are moving forward despite uncertainty over the fate of the museum’s current location in Newport Beach.

Chef Built Beloved Restaurant on Natural Talent

Mixes Ethnic Food Smarts, Hunger for Better Dining

Our now legendary Orange County lady chef and restaurateur Zov Karamardian set out to introduce the dining public to Mediterranean food 27 years ago.

Upscale Bars Offer Comfort, Sociable Dining Alternative

Claim Center Stage With Inviting Decor, Food, Drink

Having a glass of wine with friends is no longer the cutting-edge trend. We are now having cocktails.

This One Is All About Henry

Not many individuals can provide the spark for an entire column.

Device Maker Follows Side Effect Into New Niche

HEALTHCARE: Switch from respiratory to blood pressure aid

Rox Medical Inc. has shifted its business model as it seeks to lower the pressure—and possibly lure a buyer.

Proctor to Play Role in Pick of Successor at St. Joe

HEALTHCARE: CEO guided system into Hoag partnership

Veteran Orange County healthcare executive Deborah Proctor’s imprint will be felt by her successor.

Wet Seal’s Fate to Unfold With Bids

RETAIL: Philadelphia firm joins B. Riley in bargain hunt

Beleaguered teen retailer Wet Seal Inc. is still drawing interest, even if it comes in the form of some rock-bottom bidding.

Pacific Club Program Aims to Make Students Leaders

EDUCATION: New academy fosters character development

The newest initiative of the Pacific Club Impact Foundation in Newport Beach has helped 150 middle school students from various backgrounds cultivate their leadership skills under the mentorship of local business executives.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 20

Is your workplace great?

Singapore Firm to Buy Emulex for $606M

Costa Mesa-based networking equipment maker Emulex Corp. announced it would be acquired for $606 million by Avago Technologies Ltd.

Taco Bell Plans Expansion in Japan

A Tokyo-based restaurant operator said it would open franchises of Irvine-based Taco Bell Corp. in Japan.

Beauty Products Firm Reportedly for Sale

Pacific World Corp. in Aliso Viejo is up for sale, according to the Wall Street Journal.

Toba Capital Puts $4M Into Drink Maker

Toba Capital Management in Newport Beach invested $4 million in Irvine-based True Drinks Inc.

HB Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.

Location, Amenities Part of Luxury Home Pricing Mix

$20M Gets You Varying Degrees of OC Posh

What will $20 million get you in Orange County? There’s a three-bedroom, two-bath, 1,774-square-foot home on a third of an acre in Emerald Bay in Laguna Beach that has a list price of nearly that.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 9

Asics America Corp. said it surpassed $1 billion in sales for the first time last year, a 14.9% year-over-year increase.

OCBJ Calendar

March 2-11 and 18, 2015

This week's business and other event listings.

Abbott Medical Brings Out New Intraocular Lenses

Two Versions of Tecnis To Restore Vision

Santa Ana-based Abbott Medical Optics continues to forge ahead with new products.

Advantage Sales Diversifies Its Marketing Toolbox

Bought Firms Focused On Promotions, Experiential

Advantage Sales & Marketing LLC recently disclosed that it acquired two marketing firms last year to bolster offerings of its in-house promotions and experiential ad agency, IN Marketing Services.

Industrial Development Stymied by Lack of Land, Residential Competition

There were 502,612 square feet of industrial space under construction at the end of the fourth quarter.

Tech Firms’ Hard Drives Named in Espionage Report

Western Digital Mulls Info, Toshiba Denies Any Role

Two storage-product makers in Irvine are connected to one of the most advanced cyber-espionage programs to surface.

Real Estate Deals

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

An apartment property in Costa Mesa was sold to an individual/personal trust for $2.2 million, or $275,000 per unit.

Kilroy Sell-Off Continues in $26M Deal for IBC Land

Fairfield Residential Plans Mix of For-Sale, Rentals

Los Angeles-based Kilroy Realty Corp. has completed the long-planned sale of a former industrial site on Von Karman Avenue in Irvine where a residential project is slated to go up.

Port Discord Starts to Seep Into OC

ECONOMY: Inventories, air shipments help blunt effects so far

Most Orange County-based companies that rely on seaborne shipments have so far managed to work around the labor dispute that’s jamming West Coast ports.

Quality’s New Quantity

Adoption of Electronic Medical Records Prompts Diversification at Software Maker

Quality Systems Inc. has gone from darling to diversification, and the shift in gears looks to be giving the Irvine-based medical software maker and its shares a shot in the arm.

Vans Looks to Asia for Next Chapter of Growth

APPAREL: Expects to near $3 billion in sales by 2017

Kevin Bailey’s goals for Vans Inc. seem quite ambitious.

Sales of New Homes Reach 10-Year High

REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014

More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.

Mastering the Plan: Share Sales Rise for OC’s Big Three

Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend

Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.

Infill Projects Keep Big and Small Builders Busy

Less Risk, Fast Sales Appeal to Publicly Traded Firms

Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.

Pyott’s Victory Lap; New at Modo Mio; Just-Right Joyce

You heard it here first back in November, when the Insider picked up on vibes that Actavis PLC might take the Allergan name once it got its deal for the Irvine-based drugmaker done.

Allergan Brand Equity Seen as Key to Top Billing

HEALTHCARE: Name better known than buyer in $71B deal

Actavis PLC’s recent decision to take on the name and ticker symbol of Allergan Inc. after it completes its $70 billion acquisition of the Irvine-based drugmaker next month brought plaudits from the local business community, where the move was hailed as a worthy acknowledgment and good business sense.

Menlo Buys $60M+ of Offices in South County

REAL ESTATE: Four offices total 365,000 square feet

Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.

Pizza Chain Adds Fast-Casual Version

San Clemente-based Oggi’s Pizza and Brewing Co. plans to mine the fast-casual trend as it also expands its full-service restaurants.

Harvard Makes Case Study of Hoag Orthopedic Institute

HEALTHCARE: Reform key context for research, report

How is the 5-year-old joint venture between nonprofit Hoag Memorial Hospital Presbyterian and a pair of doctors’ groups going?

For-Profit Hospitals Steady in Wake of Federal Reform

HEALTHCARE: Continued role seen for group

Nonprofit hospital affiliations and network creation in the wake of federal healthcare reform have dominated Orange County’s hospital headlines in recent months.