Orange County Business Journal

OCBJ WEEKLY EDITION

OCBJ Calendar

Nov. 28-Dec. 7, 2016

This week's business and other event listings.

Proove Biosciences Wants to Market Data on Pain

Fast Grower Aims To Supplement Test Revenue

Irvine-based Proove Biosciences wants to diversify its lineup of offerings to complement the tests it provides to help physicians evaluate pain tolerance and identify risk for dependence and addiction.

Kia Spreads Word on Hybrid SUV Through App Bot

Sings Praises of Niro Via AI-Powered Text Chats

Kia Motors America Inc.’s new Niro hybrid SUV is getting lots of marketing attention these days.

USB Touted as Ultra-Secure Closes In on Retail Deal

Startup Says Device Uses NSA-Endorsed Technology

Irvine startup Webcloak is nearing a deal with a national retailer to distribute its USB device, which it says allows users to anonymously browse the web and prevent viruses, data theft or identity breaches.

Real Estate Deals

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

AMZ Properties sold an industrial building in Anaheim to 4340 E. Miraloma LLC for $6.4 million, or about $170 per square foot.

Angel Investment Group Seeks More Medical Deals

Tech Coast Angels Unit To Hunt Specialized Investors

The Orange County chapter of Tech Coast Angels recently formed a medical device and lifesciences division to engage in more medical device deals, with the goal of increasing its ranks of accredited investors with medical device expertise to facilitate such deals.

The Source Preps for Opening at Beach and Orangethorpe

Retail, Office About Done, Hilton Hotel Year Away

Lynwood-based developer M&D Properties is gearing up for the opening of The Source, its big mixed-use development in Buena Park.

Biggest Employers Get Bigger

Grow Local Workforces 2.5% to 273,000, Up 3.5% Companywide

Orange County’s biggest employers continued to expand their workforces over the past year, though at a slightly slower pace than last year.

Turning a New Tea Leaf

Beverage Chain Brings Asian Recipes, Complementary Approach to Market

7 Leaves Cafe will happily follow in Starbucks Corp.’s footsteps.

‘Flight’ Plan Set for Creative Campus

Price for 40 Acres in Tustin Could Top $73M

Orange County’s first ground-up creative-office campus looks likely to break ground in mid-2017 under terms of an agreement between the city of Tustin and the developer of the project, which is called Flight.

Village at Orange Fetches $84.5M

REAL ESTATE: Looks to be first buy here for SD-based investor

An investor from San Diego has bought the Village at Orange shopping center in one of the largest reported retail deals in Orange County this year.

Hyundai’s New Take on Tech

AUTOS: Carmaker forms IT ‘subdivision’ at FV headquarters

Here’s what the world didn’t see when Hyundai Motor America Inc. showed off its first self-driving vehicle at the Los Angeles Auto Show last week:

Girly Guys; Trump Ties; Royce Tries

Word that Hillary Clinton became the first Democrat to carry Orange County since Franklin Roosevelt might just have you ready to consider another stereotype-buster for this place that boasts an airport named after John Wayne: The two men who built the Irvine-based Too Faced makeup brand into an outfit that fetched $1.45 billion in last week’s sale to Estee Lauder counted “unabashed girliness” as an inspiration (see related report, page 8) …

South Coast Metro Office Sells to SD Investor

REAL ESTATE: Estimated $50.5M for Santa Ana building

One of the high-end office buildings in the Hutton Centre mixed-use campus in Santa Ana has been sold to an investor from San Diego.

NB-Based Team Tennis Franchise Up for Sale

SPORTS: Sold out 6-game schedule at 1,250-seat venue

Orange County’s professional tennis team is up for sale.

OHL Leads on $1.2B Plan to Widen 405

CONSTRUCTION: Expected to bring 800 trade jobs over 6 years

The Irvine office of OHL USA Inc. is part of the joint venture whose $1.2 billion bid for the I-405 Improvement Project was deemed “best value” last week by the Orange County Transportation Authority’s board of directors.

Sperry Commercial Adds Former Irvine Mayor to Mix

REAL ESTATE: Will aim to build broker roster, Asia links

Sperry Commercial Global Affiliates LLC, an Irvine-based commercial real estate brokerage that started operations this summer, has hired the former mayor of its hometown to beef up its presence in Asia.

Golden State Adds Denver Distributor

A unit of Golden State Foods Corp. in Irvine created a company to run a food distributor that it bought in June.

St. Joseph Expands Home Nursing

Providence St. Joseph Health in Irvine plans to expand its home healthcare services franchise offerings by 50% over the coming year.

Ohio Firm Buys Lawn Device Startup

Blossom, a startup based at The Cove in University Research Park, was acquired by Marysville, Ohio-based The Scotts Miracle-Gro Company. Terms of the deal hadn’t been disclosed.

Herberts Pledge $5 Million to Eye Institute

Gavin and Ninetta Herbert will give $5 million to the Gavin Herbert Eye Institute to back retinal research in diseases that include glaucoma, diabetic retinopathy and retinal detachment.

$1.45B for Irvine-Based Cosmetics Line

Too Faced Cosmetics LLC in Irvine will sell for the second time in 18 months, in a deal pegged at nearly $1 billion more than last year’s price tag.

Emerald Gets RFID Tech Show

Emerald Expositions LLC in San Juan Capistrano last week acquired the RFID Journal LIVE event and several related regional expos from RFID Journal LLC in Hauppauge, New York on undisclosed terms.

RSM Startup Hopes Diamonds Will Be Best Friend

New Online Auction Site Cuts Out Middlemen

Rancho Santa Margarita-based online auction company MyDiamondAuction.com recently opened to individuals to give those who own diamonds access to what it says are the world’s largest diamond-buying companies.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 47

Boeing Co. plans to move 2,500 jobs from Huntington Beach in the next four years, leaving a fraction in Seal Beach while the majority go to El Segundo, Long Beach, St. Louis and Huntsville, Ala.

High-End Condos Carve Out Niche in Luxe Market

About 160 on OC Market, Two Priced Above $4M

The Orange County luxury housing market, defined in the real estate industry as the top 5% of homes sold in a given quarter, regularly sees single-family homes garner $5 million, $10 million and even $20 million.

OCBJ Calendar

Nov. 21-30, 2016

This week's business and other event listings.

Glaukos Expects New Status on Key Reimbursement

CMS Move Stands to Lift Device Maker’s Revenue

San Clemente-based Glaukos Corp. anticipates strong revenue growth next year for its iStent products, based on a guarantee of reimbursement on procedures that use its iStent implant.

Marketing Groups Grow Effort to Court SF Travelers

Dana Point Organization Joins Concerted Campaign

Visit Dana Point recently joined a consortium of local destination marketing organizations on a campaign that aims to attract visitors from the San Francisco area.

Vizio Sale in Spotlight of Chinese Buyer’s Finances

LeEco Tight On Funds After Overextension

Vizio Inc.’s pending $2 billion sale to LeEco bears watching as chatter picks up in analyst circles that the China-based conglomerate has hit a cash crunch as it expands product lines and markets.

Real Estate Deals

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

99 Motel LLC sold a land parcel consisting of a motel and retail property in Anaheim to Anaheim Express Car Wash LLC for $3.4 million, or about $73 per square foot.

Recently Built Placentia Apartments Sell for $44M

Union Place Opened in ’12; 1st for City in Over a Decade

Union Place, the first big apartment complex to be built in Placentia in over a decade, has sold.

OC Retail Keeps Streak

Biggest Shopping Centers Post 1.7% Increase, Top $8B in Sales

The largest shopping centers in Orange County managed a seventh straight year of growth in taxable sales with a 1.7% gain.

Black Belt, Fast Rise

St. John Knits’ Zabat-Fran Brings Varied Background to General Counsel’s Job

Christina Zabat-Fran brought a black belt in taekwondo and an exhibition-quality art portfolio to go with her law degree when she took the job as the in-house counsel at St. John Knits International Inc. in Irvine.

Will Shakeup in Chip Sector Include Microsemi?

TECHNOLOGY: Longtime acquirer likely to draw several bidders

Another big shake-up could play out soon in Orange County’s chip sector, which has lost several local headquarters over the last few years amid a growing appetite for consolidation.

IE Billionaire in Deal For Google Campus in Irvine

REAL ESTATE: Estimated $255M tops for OC office deals since 2012

A billionaire from the Inland Empire has acquired the five-building office campus in Irvine that holds the local operations of Google Inc. and others in what appears to be the largest office deal in Orange County in several years.

Burnham-Ward’s Next Retail Act Set for LB

REAL ESTATE: SOCO developer sees similar potential at Boeing site

The developer behind the South Coast Collection shopping center in Costa Mesa is gearing up to break ground on a hip retail project near Long Beach Airport.