Orange County Business Journal

OCBJ WEEKLY EDITION

Foreign-Owned Companies Stay Employment Course

36 Biggest Still Employ 27,000-Plus in County

The biggest foreign-owned companies with regional headquarters or significant operations in Orange County employ more than 27,000 here, about the same as a year earlier.

Wanted: Best Places to Work for OCBJ’s List

CALL FOR ENTRIES: Website set to take entries until March 18

Is your workplace great?

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 4

University of California-Irvine named Dr. Howard Federoff chief executive of UC Irvine Health.

Business Journal Honors CFOs

Orange County’s top financial professionals were honored in five categories on Jan. 21 at the ninth annual Business Journal CFO of the Year awards dinner, which drew a crowd of about 600 to Hotel Irvine.

Early Sales Show Luxury Market Off to Strong Start

Five Move in First Ten Days, Four on Coast

Five Orange County luxury homes sold during the first 10 days of the year, and four of those are ocean-view homes in OC’s priciest communities. The other is an expansive estate on an acre-plus spread in Coto de Caza that once graced the cover of Unique Homes magazine.

Rare Run on PCH

‘Entirely New Type of Investor’ for Commercial Properties Along NB Stretch

It’s rarely a bad time to sell a waterfront commercial property in Newport Beach, home to some of the most desirable—and expensive—real estate in California.

Koreatown South: LA Investor Buys Into Buena Park Downtown

REAL ESTATE: Adds 535,000 SF of retail in wake of sale of LA mall

A Los Angeles-based investor with ties to that city’s Korean-American community has bought a majority stake in Buena Park’s largest mall.

Platinum Triangle Pendulum Swings Back

For-Sale Project Follows Nearly 10 Years of Rental Developments

A Newport Beach-based homebuilder is planning the first dedicated for-sale housing project in Anaheim’s Platinum Triangle district in nearly a decade.

400 Spectrum Tower on Track After Nearby Leases

WeWork, Curse Inc. Join Mazda in 21-Story Office

The Irvine Co.’s plans for a sister tower for its 200 Spectrum office building appear to be on the fast track after a flurry of leasing activity for the developer’s speculative office tower, which is nearing completion.

Activists Urge St. Joseph-Providence Combo Scrutiny

Fear Possible Faith-Based Access Restrictions

Some advocacy groups are urging regulators not to waive a merger review of Irvine-based St. Joseph Health and Renton, Wash.-based Providence Health and Services’ proposed mega-affiliation.

DC Shoes, Retailer Rev Up Supercross Sponsorship

Brand Teams With Journeys for ‘16 Contests

Quiksilver Inc.’s DC Shoes brand has partnered with the Journeys retail chain as the exclusive footwear sponsor of the 2016 American Motorcyclist Association Supercross season.

OCBJ Calendar

Jan. 25-Feb. 3, 2016

This week's business and other event listings.

Soft PC Sales Put Damper on Western Digital’s 2015

Storm of Issues Precipitates 45.8% Share-Price Drop

Another sobering report on PC shipment sales underscores the lumps Irvine-based disk drive maker Western Digital Corp. took on Wall Street last year.

Real Estate Deals

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

CT Realty Investors, New York State Common Retirement Fund and Artemis Real Estate Partners sold an industrial building in Huntington Beach to Rexford Industrial for $17.1 million, or about $149 per square foot.

‘Creative’ Offices Go Big With Latest Wave of Projects

Multistory Office Sites Get Developer Attention

Area office owners are super-sizing the latest crop of creative-office redevelopment projects on tap in Orange County.

Office Sales

Largest OC transactions in Q4

Largest OC transactions in Q4

Office Leases

Largest OC deals in Q4

Largest OC deals in Q4

Office Construction

Largest OC projects in Q4

Largest OC projects in Q4

Industrial Sales

Largest OC transactions in Q4

Largest OC transactions in Q4

Lease Rates Rise In Tight Office Market

The Orange County office market’s asking lease rates continued to jump in the fourth quarter as owners responded to the lack of availability.

Industrial Leases

Largest OC deals in Q4

Largest OC deals in Q4

Industrial Construction

Largest OC projects in Q4

Largest OC projects in Q4

Edwards Pursues Bigger Heart Market

Year of Deals Enhances Position to Gain More Overseas Business

Edwards Lifesciences Corp. wants to move its popular less-invasive replacement heart valves into a wider range of heart disease treatment after further padding its portfolio of mitral heart valves last month with the latest in a string of deals.

NAMM Big Show

Music Conclave Tight for Now; Sells Out Anaheim Restaurants, Drives Hotel Guests to Coast

The Anaheim Convention Center is expanding its exhibit halls to 1 million square feet.

OC Entries Grab Share of CES Spotlight

TECHNOLOGY: More than 100 companies join frenzy in Vegas

Orange County companies did their part to cut through the clutter at the world’s largest technology trade show, competing with more than 3,600 product makers from around the world in an effort to grab headlines, distributors and new customers.

Apartment Developer Adds Colton Co. Offices to IBC Mix

REAL ESTATE: Site could get 800+ units under Garden Communities

San Diego-based Garden Communities of California has bought a multibuilding portion of the Colton Plaza office campus next to John Wayne Airport where the company plans to build a big multifamily project.

Hotels to Add 100K SF of Event Space to Market by ’17

Land Dearth Limits, Group- Fun Business Inspires

A hot streak of hotel development will bring about 100,000 square feet of event space spread over at least 17 projects in Orange County by the end of 2017.

Q&A

The Business Journal often asks Orange County’s hoteliers to comment on changes we’ve noticed in the industry. This time we wanted to know what they were seeing and how they thought it would play out this year. We asked a sampling of executives, general managers, sales directors, and others in the hospitality and tourism industry here, “What is the most important trend you’ve identified for this year?” Answers focus largely on food and customized experiences, from food trucks to sand castle construction. Edited excerpts of their responses follow:

Time, Place Drive Meeting Spaces’ Marketing Moves

Changes Focused on Youth, Food, Local Flavor

Orange County hoteliers said their meetings and events marketing is heavy with the local “flavor”—from surf to sand to entertainment—and new food offerings.

Top 50 Hotels for Meeting Space Delve Into Details

Slight Increase in Current Stock, Several Newcomers in Works

Meeting space is meeting space, right?

Simon Hire Points to Larger OC Strength

The silliness of an election season abounds, the stock market has dropped into “correction territory”—and business continues strong in Orange County.

Stem Cell Specialist Cuts Trial, Trims in Irvine

HEALTHCARE: shift in resources to N.J. subsidiary

Caladrius Biosciences Inc. has cut 40 jobs in Irvine and ended a clinical trial of its lead drug candidate.

Hines Gets $65M for Pair of Fully Leased Offices

REAL ESTATE: Moshayedis pony up $34M for IBC property

Real estate owner and developer Hines Interests LP has sold a pair of properties it owned near John Wayne Airport for nearly $65 million.

Trout to Bat for Big Brothers, Big Sisters

Los Angeles Angels of Anaheim star outfielder Mike Trout will encourage his more than 1 million Twitter followers to consider mentoring.

Device Maker Buys In Vitro Specialist

Santa Ana-based device maker Irvine Scientific acquired Rome, Italy-based Biocare Europe S.R.l, a distributor of in vitro fertilization devices, media and equipment, on undisclosed terms.

Ricoh Acquires Printer Maker in Costa Mesa

Tokyo-based Ricoh Co. acquired industrial printer maker AnaJet in Costa Mesa on undisclosed terms.

Packing House Developer Buys 4 Sites

LAB Holding LLC in Costa Mesa will buy four development sites from the city of Anaheim for $10.1 million.