Orange County Business Journal

OCBJ WEEKLY EDITION

250-Room Anaheim Hotel Fetches $34M

Laguna Beach-based Casa Resorts Inc. said its La Casa Anaheim Resort LLC affiliate last week sold the 250-room Hotel Menage in Anaheim for $34.2 million to Taiwan-based buyer Kitty Lo.

Another Downgrade for Smile Brands

Irvine-based Smile Brands Group Inc. was hit with its second credit rating downgrade in the past nine months.

Hotel Irvine GM to Irvine Co. Exec Role

Former Hotel Irvine General Manager J.D. Shafer was named a senior director of community management for Irvine Company Apartment Communities.

U.S. Hyundai Arm Shifts Media Buying

Hyundai Motor America Inc. in Fountain Valley said it will shift its media-buying business to Canvas Worldwide, effective Jan. 1.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 21 Special Report

Is your company growing fast?

PHILANTHROPY

Free Wheelchair Mission’s 12th Annual Miracle of Mobility Gala raised over $1.6 million on July 23 to benefit people in need of mobility.

ADDENDUM

Disneyland and its counterpart in Florida will get a dedicated “Star Wars” section, Disney Chief Executive and Chairman Bob Iger announced at the company’s D23 Fan Expo in Anaheim (see related graphic, page 22).

Bilt, Private Equity Backers in New Dental Enterprise

Smile Brands Cofounder, Former CFO Eye Buys

Veteran OC dental business services executive Steven Bilt has resurfaced with a new company.

Hospitality Company Puts Lincoln Logs to PR Work

Great Wolf Ships 75 Kits To Stir Buzz for OC Lodge

Great Wolf Lodge Southern California sent out a box of Lincoln Logs to local media to perk their interest in the 603-room resort and indoor water park scheduled to open early next year in Garden Grove.

OCBJ Calendar

Aug.24-Sept. 2, 2015

This week's business and other event listings.

M&W Market Gets Tighter in Q2

Orange County’s manufacturing and warehouse sector, which consists of 5,706 buildings totaling nearly 211 million square feet, is the largest segment of the industrial market.

Regulatory Step Brings Broadcom Sale Closer to Reality

Clears Antitrust Waiting Period, Close Set for Q1

Irvine-based Broadcom Corp.’s pending $37 billion sale to Avago Technologies Ltd. in Singapore has passed one of the first regulatory hurdles.

Real Estate Deals

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

Irvine-based commercial real estate investor Great Far East sold an office building in Irvine to Brighton Investment LLC for $8.5 million, or about $420 per square foot.

Investors Pick Up Foothill Plaza For Nearly $50M

Offices Next to 241 Hold HQ for Kaiser Aluminum

Foothill Plaza, a two-building complex in Foothill Ranch that’s one of the highest-quality buildings in the office market in and around Lake Forest, has traded hands at a price approaching $50 million.

OCBJ Calendar

Aug.17-26, 2015

This week's business and other event listings.

Healthcare-Related REIT Doubles Borrowing Capacity

Unsecured Line Gives It $500 Million Potential

San Clemente-based CareTrust REIT Inc. is loading up on credit as it tries to maintain growth.

DC Shoes Rides Publicity Windfall With YouTube Hit

Dirt-Biker-Turned-Surfer Video Pulls in 16M+ Views

DC Shoes’ video “Pipe Dream,” featuring Robbie “Maddo” Maddison surfing the waves of Tahiti on a modified dirt bike, has amassed more than 16.5 million views on the brand’s YouTube channel since it was posted two weeks ago.

Blizzard Gains Sales Through Its Free-to-Play Games

Revenue Up 13%, WoW Subscribers Down

Blizzard Entertainment Inc.’s evolving business model into free-to-play games has helped the Irvine-based video game maker offset the lowest subscription count for its flagship World of Warcraft franchise in more than decade.

Real Estate Deals

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

MDI Redhill LLC sold an industrial building in Tustin to KCI Valencia LLC for $8.4 million, or about $190.38 per square foot.

Apartment Owner Looks for a Lift to Boost Parking

Costa Mesa Proposal Would Be a First For City

The owners of a Costa Mesa apartment complex want to take a new approach to dealing with parking congestion.

Brown’s New Suffix; Haddad’s Old Trees; Tu’s Star Turn

Mary Ann Brown has maintained a low profile despite her status as one of the highest-ranking female executives in OC, with a resume that stretches from here to New York and London.

Blizzard Entertainment Extends Spectrum HQ Stay

REAL ESTATE: Leases combine for 435,000 square feet

Blizzard Entertainment Inc. has signed a new lease for its offices in the Irvine Spectrum in a deal that should keep Orange County’s largest software company in its present location for the foreseeable future.

Core of Anna’s Linens Could Survive Bankruptcy

RETAIL: Insiders try to keep name, 100+ stores, CFO says

Anna’s Linens Inc. in Costa Mesa is conducting a going-out-of-business sale, but don’t write off the household-goods retailer just yet.

Mitsubishi Replaces PR Agency of Record

Mitsubishi Motors North America Inc. in Cypress selected Newport Beach-based The Brand Amp as its public relations agency of record.

Device Maker Preps for Premarket Study With New Cash

HEALTHCARE: TherOx laid low since recession-era setbacks

TherOx Inc., an Irvine-based medical device maker, has re-emerged in the public eye with an eight-figure funding round and is preparing to work on eventual regulatory approval of its lead product.

Men’s Salon Chain Grows Like Healthy Head of Hair

RETAIL: 18ǀ8 jumped from 6 spots in 2013 to 370

Scott Griffiths is out to sell you an experience.

Telecom’s Job Cuts Pull Down Local Industry By 6%

Verizon Trims 1,000 in OC, Leads to 2nd Drop in a Row

A companywide restructuring fueled the second straight year of significant job losses among Orange County’s largest telecommunications companies.

OC Cities’ Populations Increase 1% to Top 3 Million

Anaheim Stays Atop List, Irvine Grows Most at 3.2%

Orange County’s population growth kept pace and inched up by 1% last year to slightly above 3 million.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 33

Raj Manufacturing LLC in Tustin changed its name to Raj Swim LLC to better showcase the company’s culture.

Highest Home Sale of Year Closes Escrow on Coast

27 Homes Over $20M Still Listed for Sale in OC

The highest residential sale in Orange County so far this year closed escrow in Laguna Beach.

St. Joseph Combo Short on Details

Providence Deal Would Put Pair Under New Firm

St. Joseph Health’s stated desire to improve healthcare delivery in its operating communities is leading it to create a large entity spanning most of the West Coast and over into Texas.

Putting the Sizzle Back in a Brand

Steak Chain Launched in ’50s Targets Millennial Families

Sizzler USA Inc. wants to attract Millennial families to the 57-year-old brand.

New Home Co. to See $500M+ in Luxe Ranch Sales

REAL ESTATE: Irvine Co. deals extend to new Eastwood project

The New Home Co. is expecting more than $500 million worth of luxury home sales on the Irvine Ranch, thanks to its latest big land deal with Newport Beach-based Irvine Company.

Quintana Campus Sells to Hines & PIMCO

REAL ESTATE: Big redo in store for former WaMu offices

The local office of Houston-based Hines Interests LP has partnered with Pacific Investment Management Co. in Newport Beach to buy one of the most prominent office campuses near John Wayne Airport.

Local Mega Developers Take Show on the Road

50M SF Planned in US, Fewer Options at Home

A handful of Orange County developers are at the forefront of a big push to build dozens of cutting-edge distribution and warehouse buildings across the country.

Industrial Market Demand Up in Q2

The Orange County industrial market continued to perform well, building on the positive momentum experienced earlier in the year.

Office Vacancies Continue Decline in Q2

The Orange County economy continues expanding, as most jobs lost during the economic downturn seem to have been recovered, and most sectors show healthy growth.