OCBJ WEEKLY EDITION
Is the split between Bill Gross and Pimco—now going on 3 months old—just too juicy to quiet down in the financial press?
HOSPITALITY: New amenities, look for lobby, all 536 rooms
A yearlong renovation has Hotel Irvine ready for its interior close-up—with makeovers of meeting spaces and outdoor amenities scheduled for completion in January.
REAL ESTATE: Blackstone unit now owns 1.5M SF in area
The office division of New York-based private equity giant Blackstone Group has added another big office complex in Costa Mesa to its growing Orange County portfolio.
A $345 million acquisition spree by Newport Beach-based KBS Realty Advisors includes a prominent office tower in San Jose and a pair of deals on the other side of the country.
HEALTHCARE: $3.5B for maker of neurological drug
Aliso Viejo-based Avanir Pharmaceuticals Inc. hopes to continue its recent surge under new owner Otsuka Pharmaceutical Co., which aims to beef up its neurology drug lineup following an upcoming patent expiration.
Every Category Is Higher, Including Costs, Clients
More people needed a lift last year, and local donors and charitable organizations responded with more money and more people to offer help.
NONPROFITS: Program adapts to schools’ needs
She was about 10 years old, a painfully shy girl with huge brown eyes and a mop of shiny brown hair. She had a nice smile—when it could be coaxed to appear.
NONPROFITS: Operates 20 parks in region, three in OC
It could be hard to imagine what it must be like to escape one terrible situation, only to be trapped in a nearly identical situation a short time later.
The 2014 Walk To End Alzheimer’s raised $375,000 toward finding a cure for the disease.
Other items of interest Orange County Business Journal Vol. 37, No. 49
The family of retired Air Force Gen. William Lyon plans to give $150,000 to the Center for Oral and Public History at California State University-Fullerton, the school said.
Kylie Schuyler knew this particular group of girls was different.
Virtual Reality Headset Key to New Model’s Intro
Put Volvo Car Corp. down as an early adopter of the Oculus Rift, a virtual reality headset that was born in Irvine and now operates there under Facebook Inc.’s umbrella.
Earth Friendly Products Spreads Benefits of Growth
Earth Friendly Products is continuing on its growth course under a new generation of leadership.
REAL ESTATE: Plans to ask Anaheim for more units, mixed-use
A real estate company in China has bought one of the most prominent parcels of developable land in Anaheim’s Platinum Triangle, where it plans its flagship residential and commercial development project for the U.S.
REAL ESTATE: Move from Tustin to Alton Corporate Plaza
Aviation electronics maker Rockwell Collins Inc. is relocating its regional operations from Tustin to Irvine after signing one of Orange County’s largest office leases of the year.
Thanksgiving is in the books and you can see the year-end holidays from here.
RETAIL: 32 biggest combine for $7.3 billion
Taxable sales at the top 32 shopping centers in Orange County grew for the fifth straight year, but at a slower pace, according to this week’s Business Journal list.
HOSPITALITY: More king beds; mini-bars, ‘popcorn’ ceilings out
The Westin South Coast Plaza in Costa Mesa is scheduled to start a $20 million renovation this week, with makeovers for its 393 rooms expected to be finished in April.
Irvine-based financial services company First Foundation Inc. has agreed to acquire Pacific Rim Bank in Hawaii in a deal valued at about $11.8 million.
Entrepreneurs ‘Slowly Getting Back’ On Feet After Fire
Trantronics Inc.’s 18,000-square-foot manufacturing plant on Langley Avenue in Irvine is back up and humming, with two production lines cranking out products and prototypes for medical, aerospace and other commercial markets.
Manufacturer in ‘Unique’ Industry Pulls on Family Ties for Gains
Eric Albert calls his company, American Handforge, more or less “hidden.”
DeNaults Built Business Along With Family In Their Chain
Ruth DeNault and her late husband Jim made sure their children got involved in the family business by starting them off early.
Hughes Marino Brings Family Affair, Focus on Tenant Side to OC
Do the basics so well that it’s cutting edge.
High Marks for Del Frisco; Jägerhaus Back on Radar
Del Frisco’s Grille opened recently at Irvine Spectrum.
Fletcher Jones No. 1 Again; Several Dealerships Sold
Orange County’s car culture continues to keep pace with the revved-up national market.
6 With U.S. Headquarters Here Combine to Employ 2,279
The six automakers with U.S. operations based in Orange County combined to employ 2,279 workers here, 3.2% more than a year earlier, according to this week’s Business Journal list.
Other items of interest Orange County Business Journal Vol. 37, No. 48
Wet Seal Inc. hired Houlihan Lokey Capital in Los Angeles and former Tilly’s Inc. executive William Langsdorf to “identify and analyze potential strategic and financial alternatives.”
Eight $4M-Plus Homes Sold in First Half of Month
In October, Orange County boasted 19 home sales that topped the $4 million mark, with the highest closed transaction fetching $10 million for the 4,000-square-foot oceanfront villa at 11 La Senda Place in Lower Three Arch Bay in Laguna Beach.
Dec. 1-10, 2014
This week's business and other event listings.
Works With Affiliates To Get Operations Lease
Hospital operator Integrated Healthcare Holdings Inc., one of Orange County’s lower-profile public companies, is working with some of its affiliates to lease a hospital in the High Desert community of Joshua Tree.
SD-Based Firm to Bring Model to Research Park
Orange County has attracted another technology incubator.
Independent Capital Management Inc. and Milender White Construction Co. each signed leases at 1401 Dove St. and 1375 Dove St. in Newport Beach.
Gabrielle Union New Face Of Home Gel Polish Line
Beauty products distributor Pacific World Corp. in Aliso Viejo selected actress Gabrielle Union to be the face of its SensatioNail at-home gel polish brand.
There were approximately 1.1 million square feet of industrial space under construction at the end of the third quarter.
Price of Half-Full Property Comes to About $110 PSF
Denver-based industrial giant Prologis Inc. has picked up a large property near the Orange County-Los Angeles line.
Broadcom Campus Plan Puts Focus on ‘Companies and Jobs’
Expect to see a surge in commercial real estate development activity near the southern edge of the former El Toro Marine Base in Irvine, following the decision of Broadcom Corp. to relocate its headquarters to the Great Park Neighborhoods site.
Aliso Viejo-Based Outfit Has Been Mobile Link Between Restaurants, Business Customers for 21 Years
Food delivery is a hot subject in the restaurant industry these days.