Orange County Business Journal

OCBJ WEEKLY EDITION

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 12

Irvine-based Kia Motors America Inc. recalled 208,858 of its Soul and Soul EV models due to a problem with the gas pedal, according to the National Highway Traffic Safety Administration.

Fitch Affirms Strong Ratings on MemorialCare Finances

Frees System to Invest In ‘Strategic Initiatives’

Fountain Valley-based MemorialCare Health System’s solid debt ratings were affirmed this month by New York City-based Fitch Ratings Inc.

Win-Win for Mophie, Dog Rescue Group at SXSW

Recharge Batteries With St. Bernard Group

Mophie executed a clever social media stunt at the South by Southwest Music Conference and Festival that wrapped up over the weekend in Austin, Texas.

OCBJ Calendar

This week's business and other event listings.

Tight R&D Market Fuels Off-Market, Non-OC Deals

The research and development market in Orange County had 70,240 square feet of negative absorption in the fourth quarter, but it remained tight with a vacancy rate of 3%.

Olloclip, Peri Get Exclusive With Amazon Exclusives

Cut Select Products With Big-Box Retailers

Irvine startup Peri Inc. and Huntington Beach-based olloclip were handpicked to distribute a limited number of products on Amazon.com Inc.’s newly launched marketplace, but the designation carries some interesting stipulations: namely, cutting ties for those products with Wal-Mart, Costco, Target and other big-box retailers.

Law Firm Makes Short Trip to New HQ at 1900 Main

Palmieri, Tyler to Move From Century Centre

Palmieri, Tyler, Wiener, Wilhelm & Waldron LLP is the latest local law firm that’s figuring out how to use less space for its operations.

Real Estate Deals

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

A five-unit apartment building in Dana Point was sold for $1.8 million, or $360,000 per unit.

Price of Chinese Developer’s Platinum Plan: $450M

1.7 Million SF Near Angel Stadium Would Include Luxe Hotel, Condo Tower, Surf Park

A Chinese developer has proposed a mixed-use project next to Angel Stadium that could rival L.A. Live in downtown Los Angeles in terms of scope and variety of uses.

Google Grows App Hub in Irvine

TECHNOLOGY: Engineers, developers push use of analytics

Google Inc.’s new 140,000-square-foot office on Jamboree Road in Irvine has become a key hub for the search giant’s push to link analytics and app development to drum up monetization opportunities for its bevy of advertisers.

Vizio Claims New Territory at SXSW

MEDIA: Artful documentary up for honors at annual festival

Add bonafide filmmaker to Vizio Inc.’s credits.

Masimo In Pitch for Niche at Tennis Tourney

HEALTHCARE: Consumer twist on medical device; ESPN spot

Irvine-based medical device maker Masimo Corp. will look to win a place in the world of big-time athletics as part of a marketing effort anchored by its sponsorship of the BNP Paribas Open tennis tournament in Indian Wells, which runs through this week.

Offices Top Priority for Big Investors Here Last Year

Money Shifts From Industrial, Multifamily

Deep-pocketed office investors flocked to Orange County last year looking for attractive investment yields while also betting on the market’s potential for rental growth over the next few years.

Title Work Stumbles in 2014 as Interest Rates Top 4%

New Home, Commercial Pick Up Some of Slack

Business for Orange County’s largest title insurers plummeted last year as refinance activity significantly declined.

Pyott’s Long-Term Memory; Freedom’s Call on Kushner

David Pyott was graceful as ever during the Leaders & Legends luncheon hosted by the Irvine Chamber just a few days before Allergan shareholders approved the company’s $70-billion-plus sale to Actavis.

Actavis to Send Medical Dermatology Line to OC

HEALTHCARE: Still no word on job additions, cutbacks here

The “new” Allergan Inc. is set to move its medical dermatology business to Irvine as part of its specialty pharmaceutical base in the wake of Actavis PLC’s $70 billion-plus buy of the Botox maker.

Blockbuster Sales Still Strong, Move Ahead in 2015

REAL ESTATE: $100M+ Deals Already Top 2014’s

2015 has the makings of a blockbuster year for large real estate deals, based on the first few months of transactions in Orange County.

Chapman, UCI Grow Business, Law Rep

EDUCATION: Lag others but show progress over last year

The full-time graduate business programs at Chapman University in Orange returned to a national ranking this year, and University of California-Irvine said graduates of its graduate business program ranked in the same report found improved job prospects from the year earlier.

Del Taco to Be Bought for $500 Million

Blank-check company Levy Acquisition Corp. said it plans to buy Lake Forest-based Del Taco Holdings Inc. in a deal that values Del Taco at about $500 million.

MetLife Tower in Irvine Co. Fold

Donald Bren’s Irvine Company owns 97% of the 58-story MetLife building in Manhattan, one of New York City’s best-known skyscrapers, according to a Bloomberg report.

New Vice Chancellor of Health Affairs at UCI

University of California-Irvine named Howard Federoff its new vice chancellor for health affairs and dean of the School of Medicine, effective July 1.

Apparel Company Names CEO

Fox Head Inc. appointed Paul Harrington chief executive and director.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 20

Is your workplace great? We want to know.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 11

The Walt Disney Co. said it has no plans for a third theme park at the Disneyland Resort, dispelling long-running rumors, according to the Orange County Register.

February’s Top Sales Come in Newport Beach, Dana Point

Deals for Both Homes Above $11 Million

Two Orange County homes priced north of $11 million sold in February, one in Newport Beach and the other in Dana Point, with the latter fetching the full asking price.

OCBJ Calendar

March 16-25, 2015

This week's business and other event listings.

Optimism Prevails After Tumultuous Year at Biolase

New CEO Says ‘Critical Changes’ Position it Well

Irvine-based Biolase Inc.’s chief executive said he expects what he refers to as the laser device maker’s “transformation” to continue this year.

Newport Beach, Film Festival Go on London Tour

Promote City, Event With Help of Beach-Scene Bus

Marketing folks from Newport Beach & Co. and the Newport Beach Film Festival got on a bus to bring some sunshine to wintry London last month.

Office Vacancies Decline in Central, North OC

The Central and North Orange County office markets have traditionally trailed the Greater Airport Area and South Orange County office markets in terms of vacancy, average asking lease rates, and absorption of space, and 2014 was no different.

QLogic Gains Ground in Growing Ethernet Market

Establishes 13% Market Share in Equipment Sales

Aliso Viejo-based networking equipment maker QLogic Corp. has made big strides in carving out a niche in the burgeoning 10-gigabit Ethernet connection market, a competitive segment that’s drawn big industry players into the ring as storage needs and speedy data transfer become increasingly important to consumers and businesses.

Real Estate Deals

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

Asset Management Consultants Inc. sold an office building in Anaheim to Marshall B. Ketchum University for $10.3 million, or about $127 per square foot.

Signs Point to Top Prices Paid for Beacon Park Land

Great Park Project Nears Irvine Co. on Lot Prices

Lot prices for the latest batch of homebuilding at Great Park Neighborhoods don’t appear to be cheap.

Country Club Teed Up for Sale?

127 Acres Along 55 Freeway Could Fetch Up to $250M

A handful of real estate developers have teed up big-dollar bids to gauge members’ interest in selling the Santa Ana Country Club.

OC Data Drill: M&A’s Long Reach

Deals Key as Alorica Tops $1B in Sales

Call center operator Alorica Inc. expects to double the size of its customer-service operations after its acquisition of several subsidiaries of Omaha-based West Corp. closed last week.

Mazda’s Latest Marketing Course: SXSW

Executives of Irvine-based Mazda North American Operations will aim to keep their minds open as they gauge the brand’s first year as the official automotive sponsor of the South by Southwest Music Conference and Festival in Austin, Texas, also known as SXSW.

DGWB Joins With High-Profile Creative in New Venture

DGWB Advertising and Communications in Santa Ana wants more.

Allergan Purchase Pushes M&A Past $90B in 2014

Value Doubled, Even Without $70B+ Sale of Drugmaker

Orange County-based companies were buyers and sellers in 303 corporate mergers and acquisitions in 2014, a year of robust local deal activity that involved slightly fewer deals and many more dollars.