Orange County Business Journal

OCBJ WEEKLY EDITION

Microsemi Names Rams Practice Facility

Aliso Viejo-based chipmaker Microsemi Corp. took naming rights of the Los Angeles Rams practice facility at the University of California-Irvine.

Vietnam Firm Buys Dairy Products Maker

Marwit Capital in Newport Beach sold on undisclosed terms its Driftwood Dairy Inc. to Vietnam Dairy Products Corp.

OC Class A Rents Hit $3 Mark for 1st Time Since ’08

Up 42% From Bottom, More Increases Anticipated

It’s taken eight long years, but Orange County’s office market is now back to prerecession levels by one key metric: asking rents.

Device Maker Appoints New Head

ReShape Medical Inc. in San Clemente named Mike Mangano president and chief executive.

Telecoms Reverse 2 Years of Job Cuts With 4% Gain

Led By T-Mobile, Which Added 175 Employees

The continued growth of T-Mobile USA Inc. and Mobilitie LLC’s local operations boosted the employment of the largest telecommunications companies in Orange County over the year ended July 31.

OC Office Market Remains Landlord-Driven in Q2

The Orange County office market is currently characterized as a landlord market due to the low availability rate. Strong employment growth in the county continued to be the primary driver of improving fundamentals.

OC Industrial Market Demand Strong in Q2

The Orange County industrial market showed no signs of decelerating at the midpoint of the year, despite the lack of available product that has become a common theme for the region over the past several years.

Retailers Vie for Limited New Space

The slightly lackluster changes over the past few quarters were no surprise despite Orange County’s attributes, due in part to the lack of new development. The construction pipeline contains an excess of retail and countless willing tenants, though few have made their way into development, leaving very little new space for tenants to vie for. Limited space for new developments opposite the uncertainty of big-box anchor longevity has given developers pause, creating a focus on smaller, safer projects.

OC Cities’ Populations Inch Up Another 1% to 3M+

34 Incorporated Areas Still Topped By Anaheim

Orange County’s population expanded by about 29,000 people last year, or a hair under 1%, ending 2015 at slightly above 3 million.

Addendum

Other items of interest Orange County Business Journal Vol. 39, No. 33

Karma Automotive LLC in Costa Mesa said its distribution strategy for the new Revero car will include 10 independent dealers in the U.S. and Canada and a company-owned “brand-experience center” in Orange County.

Realty Agents Use ‘Storytelling’ to Entice Buyers

Say High-End Clientele Seek ‘Bespoke Experience’

It’s little wonder that coastal Orange County may seem like the setting for a novel, with its expansive ocean vistas, low rolling hills and wide blue skies.

OCBJ Calendar

Aug. 15-24, 2016; Sept. 22, 2016

This week's business and other event listings.

Masimo Takes Another Step Into Regional Oximetry

Gets European Approval For Sensor for Pediatrics

Masimo Corp. in Irvine got CE marking for its O3 regional oximetry sensor in some pediatric settings, which allows it to be sold throughout Europe and other countries.

Video Campaign Celebrates Anaheim’s Food, Brews

18 Features Spotlight Local Places to Consume

Visit Anaheim, the destination marketing organization for Anaheim and Garden Grove, hired online content publisher FOODBEAST in Santa Ana to create videos showcasing the area’s “diverse craft brew and local dining scene.”

US Patent Chief Sees Momentum on Cybersecurity

Obama Adviser Marks Increased Applications

Michelle Lee, a senior economic adviser to President Barack Obama and the country’s top patent official, in a recent interview with the Business Journal highlighted the importance of new technologies related to cybersecurity, a growing area of specialization in Orange County.

Real Estate Deals

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

Joseph Trading, a provider of flavorings for Yogurtland, signed a three-year lease at 6180 Valley View St. in Buena Park.

SmartStop Pursues New $1B REIT, Opens Local Gym

New Fund Would Be Its Fourth Since 2008

Ladera Ranch-based SmartStop Asset Management LLC is looking raise more than $1 billion to fund another batch of self-storage facility acquisitions across the country as it takes the wraps off of a new development in its hometown.

Firm Banks on Fact That Advisers Need Advice, Too

Site Also Connects Them To Wider Client Base

A San Clemente-based company has created a website that connects advisers in related financial professions to each other and to consumers.

Perceptions of New OC Reality Range

A couple of recent visitors came from the East Coast and left the clear impression that old stereotypes about Orange County—all-white population, conservative to the point of reactionary, land of goofy housewives—are a thing of the past on the other side of the continent, too …

Cigna Deal for Offices in Orange Tops $100M

REAL ESTATE: Trio adjacent to Outlets, Christ Cathedral

A trio of office properties near the Outlets at Orange shopping center—along with adjacent land that’s expected to hold a host of apartments—has new ownership after a deal valued in excess of $100 million.

Skylights Manufacturer Sheds Light on Fast Growth

MANUFACTURING: Bucks trend with Costa Mesa factory

Skyco Skylights Inc. is bucking the trend with its manufacturing operation in Orange County.

PacSun to Shutter 132 More Stores

RETAIL: In talks with mall landlords on lease revisions

Pacific Sunwear of California Inc. in Anaheim plans to close 46 stores as it emerges from bankruptcy in October, and another 75 over the course of the next year or so.

Beverage Products Maker Acquired

Fullerton-based Dr. Smoothie Brands was acquired on undisclosed terms by Bevolution Group in Chicago.

Tradeshow Producer Buys in Tennessee

Emerald Expositions LLC in San Juan Capistrano acquired the International Gift Exposition in the Smokies from M&M Gift Shows in Toledo, Ohio.

OCTANe Enters Med Device Pact

Aliso Viejo-based OCTANe and the Boston-based Massachusetts Medical Device Industry Council will work together to build awareness of emerging med-tech companies for investors in Orange County and Boston.

Pyott, Kiani in $13 Million Investment

Irvine-based Bioniz Therapeutics Inc. said it appointed David Pyott, former chief executive of Allergan Inc. [now Allergan PLC] board chairman.

Fastest-Growing Private Companies Wanted for Business Journal’s Annual List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast? 

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 32

Vans Inc. in Cypress promoted Doug Palladini to global brand president, effective immediately.

Sales Along OC Coast Show Summer Sizzle in July

24 Transactions Totaled $160M, Besting June, May

July may be the hottest month this summer for luxury home sales in Orange County, based on figures from online real estate aggregator Redfin.

OCBJ Calendar

Aug. 8-17, 2016

This week's business and other event listings.

Mazzo-Mussallem Talk to Headline Device Forum

Annual Event Also To Feature Panel Discussions

Companies seeking funding and potential investors will link up just over two months from now at an annual Orange County medical device industry forum.

Software Maker Spreads Out With Global Showdowns

Cylance Goes on Tour With Part of $100M Raise

Irvine-based software maker Cylance Inc., which recently raised $100 million in a Series D round, is using some of the funds to boost its international marketing initiatives.

Tech-Exec-Turned-VC-Leader Eschews Corner Office

Smith Reflects on Pass Of Chance to Buy Dell Unit

The allure of taking over the business software unit he grew to about $1 billion in annual revenue until its $2.8 billion sale in 2012 to Dell Inc. wasn’t enough to win over Vinny Smith.

Real Estate Deals

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

JPMorgan Chase Bank & Co. signed a 10-year lease at 17771 Santiago Blvd. in Villa Park for $1.8 million.

Greater LA Industrial, Office Markets Strengthen in Q2

Activity picked up for the Greater Los Angeles office market in the second quarter after a positive yet slower start to the year.

Apartment Push Gives Rentals Edge in Irvine Ratio

More Rentals Than Owner Units, JLL Reports Shows

The city of Irvine remains the hub of homebuilding in Orange County through development of Great Park Neighborhoods and the Irvine Ranch, but an even faster construction push in the multifamily sector over the past decade has given rental units majority status in OC’s fastest-growing city, according to new brokerage data.

Irvine Startup Aims to Disrupt Mortgage Industry

Wants to ‘Evaporate’ Cost, Time of Complex Process

A startup that’s automating the mortgage process has raised $7.5 million in Series A funding.