OCBJ WEEKLY EDITION
Innovation Institute LLC in La Palma acquired Summit Talent Group, a healthcare industry executive compensation and search firm in Columbia, Md.
Report by Main Investor Lennar Gives Perspective On Aliso Viejo-Based Developer’s Valuation
FivePoint Communities Inc. can safely join the ranks of Orange County’s billion-dollar companies in terms of its valuation.
MARKETING: Links with London, Hong Kong shops for B2B work
BrandingBusiness helps companies in transition develop market strategies—the stories they tell to customers and employees. Now other agencies are taking note of the Irvine-based firm’s own brand proposition and adopting it as their nameplates.
More than 800 leaders of the Orange County legal community celebrated the Public Law Center’s 35 years of helping the county’s poorest and most vulnerable residents at Hotel Irvine on June 20.
STARTUPS: Observers say stronger deal flow needed here
Udi Dorner consulted Wikipedia when he needed a list of venture capital firms in Orange County. The managing partner of Irvine-based startup SetSchedule was looking to raise $3 million in venture funds for a Series A round for the technology and marketing startup that connects real estate agents with homeowners and buyers.
‘Uber’ of Engineers For Virtual, Augmented Needs
A startup that’s capitalizing on the hot trend of virtual reality and augmented reality recently launched a service that provides software engineers who specialize in those areas.
ECONOMY: Brexit, Fed also factors in 3-year low
Orange County business owners have lowered their expectations for growth in the third quarter, a posture that appears likely to continue through the presidential election toward year-end, according to the California State University-Fullerton’s Orange County Business Expectations Survey.
TECHNOLOGY: Citigroup among backers of cybersecurity specialist
One of Orange County’s fastest growing companies is crafting a strategy to claim new ground with a push into the consumer market.
Other items of interest Orange County Business Journal Vol. 39, No. 29
Two reports by University of California-Irvine researchers show most job growth in two decades in Southern California originated outside of central business districts.
Office Buildings, Former Crystal Cathedral Get Treatments
Brutalism, a mid-20th-century architectural style, appears aggressive—even violent—but broke ground when Swiss architect Le Corbusier described the design look he sought: “béton brut” or “raw concrete.”
July 18-27, 2016
This week's business and other event listings.
30 Firms Do $909M In Work, Grow Revenue 16%
Orange County’s 30 largest tenant-improvement contractors continued to grow last year, combining for $909 million in local work.
Caution High Valuation Could Suffer With Slip-Up
Edwards Lifesciences Corp.’s effort to create a “catheterized revolution” in heart valve treatment has landed it new institutional analyst coverage.
Altamont Adds Indie Punk Records to Its Lineup
Lake Forest-based Altamont recently added music producer to its duties as a skate apparel manufacturer—perhaps not a surprise for a label named after a 1960s rock festival.
The high-rise office market in Orange County ended the first quarter with steady demand, resulting in 402,030 square feet of positive net absorption.
Epicor Originally in Irvine, Dell Unit Came From Quest
Two software makers with deep roots in Orange County that helped develop the industry here quietly changed hands in private equity deals.
UST Global Offices Sold By LBA for About $33M
Dallas-based institutional investor Invesco Real Estate has added another big office in Aliso Viejo to its portfolio, its third reported purchase in the city in a little over a year.
Sales and leases of offices, industrial buildings, retail space and apartments
The Law Office of David C. Stone signed a three-year lease extension at 300 S. Harbor Blvd. in Anaheim.
The Orange County Forum served up humor, straight talk and useful insights at last week’s Housing Outlook 2016 at the Hilton Irvine, where FivePoint Communities CEO Emile Haddad and Larry Webb, his counterpart at New Home Co., joined the Business Journal’s Richard Reisman for a chat.
Angel Star Endorses Model With Data Sensor
Mike Trout is part of an effort to bring America’s Pastime into the age of data with the game’s first smart bat.
New PHG Fund Aims for Marriott’s Boutique Brand
The same $125 million fund that accounted for Irvine-based Pacific Hospitality Group’s recent commitment to buy the AC Hotel that’s rising in the Park Place mixed-used development, just a short hop from its headquarters, is aimed at adding another handful of the boutique brand properties as they roll out in the next few years.
UC-Irvine Librarian Lorelei Tanji hit upon a point that you’ll regularly find under the Business Journal’s front-page banner during her opening remarks to a crowd of about 300 who gathered at the Beckman Center last week to celebrate the debut of Chuck Martin’s coffee-table tome,
REAL ESTATE: Would-be pioneer seeks engineers here
Elon Musk’s SpaceX has touched down in Irvine.
FINANCE: Some of $14M infusion to pay off TARP
Irvine-based CalWest Bancorp, the holding company for South County Bank N.A., has six new directors and $14 million in new capital as it looks to get back on a growth track.
APPAREL: Cuater seeks new status for belts in men’s fashion
The son of Quicksilver founder Bob McKnight has launched an upscale belt maker targeting wearers of surf apparel.
The newly formed Providence St. Joseph Health said it’s launching a $100 million effort toward improving mental healthcare in communities it serves.
Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.
Laguna Beach-based virtual reality content maker NextVR Inc. raised $20 million from CITIC Guoan Information Industry, a state-owned investment firm in China.
Irvine-based Edwards Lifesciences Corp., a maker of replacement heart valves and other cardiovascular devices, named Leslie Heisz to its board of directors, bringing it to nine members.
HEALTHCARE: New service option for aerospace workers
MemorialCare Health System’s ongoing effort to diversify care delivery has reached a large Orange County employer with a tailored offering of services, and the Fountain Valley-based provider sees the possibility for similar deals in the future.
REAL ESTATE: 1st tenant at spec development takes 27,000 square feet
Irvine Company has landed a startup financial technology company with a brand-name backer as the first tenant at a pair of buildings the landlord is putting up at its Sand Canyon Business Center office campus.
32 Deals Top $4M In June; 2 Exceed $10M
Thirty-two home transactions above $4 million closed in June, including two that captured sales prices above $10 million.
REAL ESTATE: Former Irvine Co. exec on to own deal with Camino
Dan Young plans to go big with his next development venture.
Helps Companies Make Cash on Unbooked Slots
A Newport Beach-based startup that helps small businesses book their unscheduled appointments during slow and off-peak periods just closed a $2 million-plus “Series Seed Preferred” round with preferred shares for investors that typically would be offered in a Series A raise.
Numerous changes occur in the U.S. financial accounting and reporting standards each year, but only a handful affect every company—large or small, technology-based or traditional service providers— and one of those takes effect soon.
Boost Employment By 6%, Big Four Again Lead Pack
Orange County’s largest accounting firms combined to grow the industry’s local work force by 6% over the year through June for the fifth consecutive year of gains as the economy and business regulation expanded.
Local Employment Up 9%, Firmwide Staff Rises 19%
Orange County’s top management consulting firms experienced 9% growth to employ about 1,760 locally in the year ended June 30, many of them adding staffers.