Orange County Business Journal

OCBJ WEEKLY EDITION

2015 Preview: Restaurants

The first two words we offered in last year’s preview of the OC restaurant business were “fast-casual.”

PHILANTHROPY

Goodwill of Orange County held its inaugural gala on Nov. 15 at the Laguna Cliffs Marriott in Dana Point.

Maseeh in Middle; Plenty of Ties to Presidential Timber

What does St. Margaret’s Episcopal School have in common with UCI, USC, MIT and Portland State University?

Lincoln Properties Buys Biggest Office in Los Al

REAL ESTATE: 2 buildings, 150,000 SF on 10 acres

The local office of Dallas-based Lincoln Properties Corp. has bought the largest office property in Los Alamitos.

Wahoo’s Lam Hits CES to Help Tout Startup Eco App

TECHNOLOGY: Works show floor for Aliso Viejo company

Wahoo’s Fish Taco cofounder Wing Lam helped Aliso Viejo-based startup My Open Road Corp. grab some industry attention at the recent International CES convention in Las Vegas.

LB Energy Drink Now Amway Product

FOOD: Buys XS Energy to draw young entrepreneurs

A Laguna Beach-based energy drink maker with $150 million in sales was sold Jan. 9 to Ada, Mich.-based Amway Corp., its exclusive distributor, the two companies said.

St. Joseph Hoag, Irvine Company Extend Partnership

HEALTHCARE: 2nd edition of concept at Jamboree Center

St. Joseph Hoag Health has laid another building block for the integrated regional care delivery it is establishing in Orange County.

La Palma Hospital Switches to Nonprofit Status

Ontario-based Prime Health Services said it donated La Palma Intercommunity Hospital to the Prime Healthcare Foundation.

UCI Medical Center Head to Retire

UC Irvine Medical Center Chief Executive Terry Belmont said he plans to retire from his post on June 30.

Plaza Bank to Buy Bank of Manhattan

Irvine-based Plaza Bank agreed to acquire Bank of Manhattan in El Segundo in a deal valued at about $52 million.

Incipio in Deal With Snowboard Firm

Incipio Technologies Inc. in Irvine said it signed a multiyear licensing deal with Burton Snowboards to manage the manufacturing and distribution of accessories for various mobile devices for the Burlington, Vt.-based company.

Wanted: Best Places to Work for OCBJ’s List

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

Is your workplace great?

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 3

Other items of interest Orange County Business Journal Vol. 38, No. 3

2014 Sales End on Satisfying Note, 2015 Starts Strong

17 $4M-and-Up Homes Sell in Month on OC Coast

Seventeen homes in coastal Orange County closed for $4 million or more between Dec. 1 and the week ending Jan. 8, according to public records and the Redfin website.

Edwards Reaches to Roots for Engineer Training

U. of Oregon Partnership Helps Teach Engineers

Irvine-based Edwards Lifesciences Corp., maker of replacement heart valves and other cardiovascular devices, is working with the Oregon Health & Science University in Portland, Ore., on a technical training program.

Apparel Brands Unveil 2015 Marketing Agendas

2 Silos for Element as Women’s Line Grows

Several Orange County apparel brands in attendance at the Agenda trade show in Long Beach this month shared news from their marketing departments:

OCBJ Calendar

Jan. 19-28, Feb. 4, 2015

This week's business and other event listings.

Retail Market Benefits From Improving Economy

The Orange County retail market continued to improve in the third quarter as demand increased.

TVs Scarce at CES as Other Products Take Spotlight

No Toshiba Tube Launch, Vizio Doesn’t Even Show

Two notable trends at this year’s International CES convention in Las Vegas may provide a glimpse into the quickly changing habits and demands of consumers.

Times’ Former Parent Seeks Partners on Costa Mesa Plant

21-Acre Site Now Unused, Redevelopment Planned

Development activity could move ahead this year at a former Los Angeles Times printing plant in Costa Mesa that’s long been a source of speculation of a potential sale or redevelopment, according to its owner.

Real Estate Deals

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

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

Q&A

The Business Journal’s Jane Yu asked local law firms whether the pace of associate hires has picked up in recent years after a long slowdown hiring in the industry following the recession. Yu also asked attorneys how they’re grooming young talent for their firms’ future leadership. Here are edited excerpts of their responses:

Legal Pros Focus on Fine Arts, Plan UCI Collaboration

Attorneys Work With UCI Program to Boost Fine Arts

Put together a few attorneys sharing a passion for the arts and a local university that fosters artistic talent, throw in some creative thinking and readiness to provide support, and you’ll get Off-Center, a collective launched by a committee of local lawyers and educators in concert with University of California-Irvine’s art department.

Law Firms Add Attorneys After Two Years of Cuts

Headcount Up 3.2%; More Make List Due to Growth

The biggest law firms in Orange County grew their workforces in 2014, breaking a two-year streak of cuts in attorney headcount.

Hyden's Other Marathon

Latham & Watkins Partner Finished Boston Just in Time for Allergan Saga

Cary Hyden used to think a marathon covered 26 miles, 270 yards.

Allergan Execs Hold Own at Operations Level

An early look at Actavis PLC’s plans to integrate its $68 billion acquisition of Allergan Inc. signals that operations executives from the Irvine-based drugmaker will maintain a strong presence in the combined company.

Auto R&D Plant Bound for Irvine

REAL ESTATE: Self-storage to rise on 10 acres next door

A 14-acre property in Irvine near the Tustin Legacy development site is expected to be converted into a manufacturing center for a Japan-based automotive research and development company, with a self-storage facility slated for next door.

Oculus Moves HQ to Silicon Valley

TECHNOLOGY: Sets up shop next to Facebook’s new campus

One of Orange County’s most promising technology companies has moved to Silicon Valley.

Mexican Connection

Imperio Auto Group Bases OC Bet on Nissan Brand, Grass-Roots Financing, New License Law

Orange County’s position at the heart of California’s car culture might be enough all by itself to draw the interest of some auto dealers.

Olson In $103M Deal on 3 Hotels

REAL ESTATE: Development push extends to Silicon Valley

Irvine-based R.D. Olson Development is under contract to sell a trio of its recently built hotels here for $103 million to a Virginia-based investor.

Local Tech Covers Spread in Vegas

Games, Drones & Automobiles

The diversity of Orange County’s technology sector was on full display in Las Vegas for the International CES convention last week, as chipmakers, smart-products manufacturers, component suppliers, and the biggest auto brand based here launched products and teased others in development.

Exec Sentiment Up for New Year

ECONOMY: 65% surveyed for CSUF index expect Q1 growth

Orange County executives are starting 2015 with increased optimism, according to the latest quarterly index by California State University-Fullerton’s Mihaylo College of Business and Economics.

St. Regis Show Adds to OC’s Stature as Center of Swimwear

APPAREL: Summer in January for labels, buyers at Monarch Beach

Major swimwear brands and retailers will gather this week for the Swim Collective at the St. Regis Monarch Beach Resort in Dana Point, sipping on bubbly and looking for sales.

Q&A

Meetings and conventions venues, which host many events that involve guests eating and drinking, typically experience trends taking place at restaurants in the community, and Orange County is no exception. Local operators observed some similar patterns last year and expect many in common this year. The Business Journal’s Paul Hughes asked a sampling of venue executives about significant food and beverage trends and how the hospitality industry is responding to them in the meetings business arena. Here are edited excerpts of their responses.

How to Mind the Gaps: Teamwork, Planning, Creativity

Hotels Reach Beyond Big Groups to Meet Needs

Going “dark” in the meetings and conventions business is a bad thing.

Local Meetings Clients Won With Shoe Leather, Pizazz

Venues Get Creative, Find Niches to Home in On

Out-of-town groups that book rooms, meeting space, food and beverage, and an interesting evening event or two spend more than 80% of dollars spent on meetings in Orange County.

Hotels Add Little Space, Numerically and Spatially

Up 1.3% As More Small Rooms Meet New Demand

Orange County hotels added little meeting space last year, but what they did bring online came creatively in a market where occupancy and room rates are growing.