OCBJ WEEKLY EDITION
The Insider has heard more than once that former Pimco CEO Mohamed El-Erian is a favorite for a cabinet-level job if Hillary Clinton wins the White House in 2016.
MEDIA: Sees potential in local focus, baby boomer audience
The days of “entrepreneurial expansion” at the Orange County Register have given way to more modest hopes for growth based on “ultra-local” coverage and baby boomers as a key readership group.
REAL ESTATE: 3rd speculative project would be 216,000 SF
Newport Beach-based Western Realco has bought nearly 10 acres of land in Brea, where the developer is planning its third big speculative industrial project in the city since 2012.
Irvine-based healthcare software maker Quality Systems Inc. continued its diversification effort with the recent acquisition of a “big data” specialist.
REAL ESTATE: $9.6M estimate for 55,474-SF low-rise
Irvine-based CapRock Partners LLC has snapped up an office just off the Costa Mesa (55) Freeway for its latest local creative-office project.
THE LIST: IFE sector offsets cuts at top-ranked Boeing
Employment at Orange County’s largest aerospace and defense contractors was roughly flat for the third straight year.
Los Alamitos-based Alliance Spacesystems LLC, which manufactures composite structures for the aerospace industry, was acquired by SolAero Technologies Corp., an Albuquerque, N.M.-based solar panels maker.
Newport Beach startup Acorns Grow Inc. raised $23 million in a Series C round to fuel the growth of its smartphone app, which aims to bring microinvesting to the masses.
The private equity firm that has controlled Irvine-based Habit Restaurants Inc. since leading an investor group in a 2007 buyout of the fast-casual burger chain was expected to trim its holdings to less than a majority stake through a secondary share offering.
The Little Saigon News Inc. in Garden Grove filed for Chapter 11 bankruptcy protection, according to documents filed with U.S. Bankruptcy Court Central District of California in Santa Ana.
Special Issue: List will be centerpiece of June 22 edition
The Business Journal is preparing its annual list of privately owned companies for publication in June.
The Orange County chapter of JDRF, a global organization that provides funding for Type 1 diabetes research, hosted its annual Dream Gala “Join the Revolution” on March 28 at the Island Hotel in Newport Beach.
Other items of interest Orange County Business Journal Vol. 38, No. 16
The U.S. Department of Education fined a subsidiary of Santa Ana-based Corinthian Colleges Inc. $29.7 million for alleged misrepresentation of job placement rates in 947 cases by San Francisco-based Heald College.
Proposal for Luxury Condo Tower to Costa Mesa Planners
The owners of the Avenue of the Arts Wyndham Hotel are moving ahead on plans to build the first high-rise condominium tower in Costa Mesa’s arts district.
AUTOS: Company circles April 20 amid buzz about new name, model
It appears April 20 will mark another milestone in the tumultuous run of the Fisker brand.
Apparel Maker’s Ambitions Tied to Costa Mesa HQ, China Production
Dragon Crowd Garment Inc. relocated its headquarters three years ago from downtown Los Angeles to Costa Mesa to be closer to a bunch of OC-based customers, including Oakley Inc., Vans Inc., Quiksilver Inc. and Pacific Sunwear of California Inc.
EDUCATION: Blueberries to microchips, toothpaste
The $5 million in seed funding that Newport Beach-based Beall Family Foundation provided for the University of California-Irvine’s new Institute for Innovation is bearing commercial fruit.
Industry Execs Caution on Trade-Off of Privacy
The chief marketing officer of the future could look more like Star Trek’s Captain Kirk than the guys from the “Mad Men” show.
Newcomers Help Boost List’s Total, Account for 40%
Orange County’s largest advertising agencies posted an estimated 9% gain in revenue last year, enough to push the group over the $1 billion benchmark.
Use of Data to Help Clients Refine Targets One Key
The largest commercial printers based in Orange County combined for $585 million in revenue last year, a 7.5% increase from their total in 2013.
Anyone who doubts Wylie Aitken’s will probably hasn’t seen him in a court of law.
REAL ESTATE: Land buy, redesign for Birch Street project
A long-planned medical office development in the Santa Ana Heights area of Newport Beach is moving ahead following a recent sale of the nearly 4½-acre site and a redesign of the proposed project.
FINANCE: ‘Cause-themed’ portfolios include big givers
Pacific Life Insurance Co. has rolled out a research subsidiary that’s targeting younger people with the prospect of adding an element of social consciousness to their portfolios.
SPORTS: Broadcast, cable streaming part of picture
Donald Sun has inked a new broadcasting deal with NBC Sports Group, ensuring his Costa Mesa-based Association of Volleyball Professionals with a significant chunk of revenue and exposure before players hit the sand next month for the 2015 tour opener in New Orleans.
HEALTHCARE: Could get final approval for market in June
A San Clemente-based medical device maker cleared a big regulatory hurdle and landed on a faster track to commercialization.
MARKETING: Joins Coke as “co-founding partner”
Toshiba America Business Solutions Inc.’s sponsorship of AEG and MGM Resorts International’s $375-million Las Vegas Arena comes with the sort of perks that are in the spotlight lately.
Irvine-based LAG Fit Inc. acquired Club Pilates, a franchised chain of 35 Pilates studios in the U.S. and Australia.
San Clemente-based CareTrust REIT Inc. bought a nursing home in Washington state for $9.1 million.
Kia Motors America Inc. in Irvine named Jang Won Sohn president and chief executive to replace Byung Mo Ahn, who will become a company adviser.
Prudential Real Estate Investors said it acquired a 75% stake in the Bella Terra Shopping Center in Huntington Beach.
Other items of interest Orange County Business Journal Vol. 38, No. 15
Quick Bridge Funding LLC, an alternative lender specializing in short-term financing moved its headquarters from Orange to Irvine, taking 17,000 square feet at Market Place Center.
See Potential for Big Returns in Luxe Approach
Investors and developers are putting their time and resources into building luxury spec homes along the Southern California coast, from The Strand in Dana Point to the Balboa Peninsula and beyond.
April 13-22, May 30, 2015
This week's business and other event listings.
Adds 18 Properties Spread Over 11 States
Irvine-based real estate investor Griffin-American Healthcare REIT had a busy first quarter, with $353.7 million worth of acquisitions encompassing 18 healthcare properties in 11 states.
Has Stake in Firm That Developed Technology
Online car shopping does not have to be a solitary experience, according to folks at Autobytel Inc.
Low-rise office buildings might not get the same amount of attention in the news as the high-rise buildings in Orange County, though they’re a significant part of the office market, accounting for more than half—nearly 55.2 million square feet—of the county’s office space. One can’t ignore the level of recent activity in the low-rise market.
Brisk iPhone, Phablet Sales Account for $1.4B
Record sales of the iPhone 6 and 6 Plus helped push Apple Inc. last year to the cusp of overtaking Samsung Electronics Co. as Broadcom Corp.’s largest customer.