Orange County Business Journal

OCBJ WEEKLY EDITION

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No.16

Los Angeles-based manufacturer American Apparel Inc. laid off more than 80 people at its Garden Grove factory, a number that could grow to 150, according to news reports.

All-Cash Transactions on Rise at High End of Market

Foreign, Local Buyers Seek Out Safe Investments

All-cash sales for luxury properties are on the rise, according to Irvine-based CoreLogic, which provides financial, property and consumer analytics, and tracks current trends.

OCBJ Calendar

April 18-27, 2016; May 4, 2016

This week's business and other event listings.

Edwards Test Results Could Give it Some Separation

Valves as Good or Better Than Surgery on Some

Edwards Lifesciences Corp. is getting approving nods in the wake of positive clinical trial results for its Edwards Sapien transcatheter heart valves on a sizable patient population.

New Plaza Regency’s Alternative to Powerhouse Centers

Gourmet Grocer Anchors Unique Mix at Center

Developer Regency Centers wanted to build more than just another strip mall in Brea—it envisioned a retail and dining hub that prompts nearby residents to abandon the comforts of online shopping and walk over for a bite or a drink with a neighbor. It also had to stand apart from the surrounding offerings, a plethora of middle-of-the-road chain stores and restaurants that often make one street corner look like the next.

New Ingram Owner Makes Good With Acquisitions

Deal to Buy Cloud App Distributor to Add Revenue

Ingram Micro Inc.’s pending owner is making good on its word to invest in the Irvine-based company after its $6 billion sale.

Real Estate Deals

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

Beauty and personal care company SeneGence International signed a seven-year lease at 19651 Alter in Foothill Ranch for $4.5 million.

Inland Empire Posts Strong First Quarter

The Inland Empire industrial market continued to show no signs of deceleration as gross activity remained strong in the first quarter, totaling 9.6 million square feet.

Obey Investor Snaps Up Industrial Building in IBC

79K SF Building Sells For $11.8M; Move Planned

An investor with ties to Irvine-based Obey Clothing has bought an industrial facility close to one of the apparel maker’s facilities near John Wayne Airport.

Software Platform Firm Nets $3 Million in Seed Round

Funds to Go Into Oil, Gas Clients That Got It Started

Exara, based in San Juan Capistrano as part of Frost Data Capital’s incubator, closed out its seed round of financing, which brought it more than $3 million.

OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

OCBJ Calendar

April 11-20, 2016; May 4, 2016

This week's business and other event listings.

Auxilio Boss Discusses Diversification and Contracts

Print Provider Grows IT Security Business, More

Mission Viejo-based Auxilio Inc. is combining diversification plays and growth in its core as a managed print services company focused on the healthcare industry.

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Taps Agency Vet as Head of Women’s Business

Volcom Inc. in Costa Mesa picked agency vet Lyndsey Roach as its global head of women’s business, a new position.

Boeing May Cut More in OC to Boost Competitiveness

To Trim 4K Jobs Across Co. to Vie With Airbus

More job cuts could be looming at Boeing Co.’s Seal Beach, Huntington Beach and Long Beach operations as the aerospace giant looks to trim thousands of positions across the country to improve its position against Airbus, a rival on commercial aircraft.

Real Estate Deals

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

DeCarion Living Trust sold an office building in Laguna Niguel to Sarshar Family Trust for $5.1 million, or about $237 per square foot.

Broadcom Buildings on Block?

Real Estate Sources Expect Sales Effort; FivePoint Comfortable With Contingencies

Broadcom Ltd. is exploring a sale of one or more buildings now under construction at its new office campus at the Great Park Neighborhoods development site in Irvine, according to real estate sources.

Aston–tatious Saleswomanship

Luxe Brand’s Americas Head Puts Promotion in High Gear

Laura Schwab’s latest marketing move resembles a Depression-era anecdote about a mother feeding a whole family with one potato.

Phoenix Builder Grows Pipeline With $55M Buy

REAL ESTATE: May get most of biggest Santa Ana mixed-use project

Alliance Residential, a Phoenix-based apartment investor and builder with a growing pipeline of projects in Orange County, has bought a portion of the largest mixed-use development planned in Santa Ana.

Allergan Looks To New Opportunities

HEALTHCARE: Focuses on own buys after Pfizer deal falters

Allergan PLC is back in the hunt for deals in its seven core therapeutic areas, including ones that could complement products developed at its Irvine hub for Botox, medical aesthetics, dermatology and ophthalmology.

DFM Flips Register Land to Harrah

MEDIA: New owner sees route to profits as renter with 11 SoCal dailies

Digital First Media holds the reins at the Orange County Register, but the 14.3 acres surrounding the daily newspaper’s operations at 625 N. Grand Ave. in Santa Ana went to developer Mike Harrah for $34 million.

Gavin Likes It; OCMA Sticks to Mission

A bit of chit-chat over a brisket sandwich early last week offered a surprising indicator that OC Hall-of-Famer Gavin Herbert wasn’t at all sold on the notion that Pfizer would wrap up its buy of Allergan PLC, the latest iteration of the company he founded. It wasn’t long before Wall Street and everyone else followed Herbert to the same conclusion—after the Treasury Department derailed the deal by essentially cancelling the benefit of a tax-inversion that Allergan would have brought via its on-the-books HQ in Ireland

X Marks New Spot: JetSuite Plans Scheduled Flights

AVIATION: New brand to start in Burbank, try JWA

Irvine-based JetSuite Inc. will apply in August to carry 40,000 passengers a year on scheduled flights out of John Wayne Airport starting in January—a 20-fold increase over its charter business here.

St. Regis Nearly Ready for Close-Up, New Name

HOSPITALITY: Restaurants, spa follow room renovations

The coming independence of St. Regis Monarch Beach Resort in Dana Point after its two-year, $40 million renovation is a bid to reposition the 169-acre property in the pantheon of OC’s luxe layouts.

Yokohama Tire Gets Olympic Boost

MARKETING: LPGA deal benefits from schedule shift

Yokohama Tire Corp.’s namesake Ladies Professional Golf Association tournament will help decide who will compete in the Rio Summer Olympics—a task that’s necessary for the first time since the sport was removed from the Olympic lineup 112 years ago.

Ad Shops’ Revenue Up 12.8%, Combine for $1.36B

Year of Corporate Tweaks; Advantage Remains No. 1

Orange County’s largest advertising agencies posted an estimated 12.8% gain in revenue last year, the second consecutive year the group has surpassed the $1 billion benchmark.

Confie Picks Up First Agency in Mass.

Huntington Beach-based insurer Confie entered the Massachusetts market with the acquisition of Axiom Insurance Agency in Springfield on undisclosed terms.

Engineering Firm Fetches $7.4M

Irvine-based Excalibur Engineering Inc. was acquired April 1 by Transcat Inc. in Rochester, N.Y., for $7.4 million in cash.

Anton & Chia Adds Canada Firm Clients

Newport Beach-based accounting firm Anton & Chia LLP acquired the U.S.-reporting clients of McCormack Su & Co. in Vancouver, Canada. Terms of the deal were undisclosed.

NB Insurer Buys Washington Company

Newport Beach-based Alliant Insurance Services acquired Andre-Romberg Insurance Agency in Spokane, Wash.

Printers Flat on Sales in 2015, Trend Offset Still Tops

30 Biggest Combine to Stay About Even at $618M

The local printing industry isn’t dead, but it’s not growing either. That’s the takeaway from a review of Orange County’s 30 largest commercial printers, which combined for $617.7 million in sales last year, about the same as in 2014.

PHILANTHROPY

The JDRF Orange County Chapter’s 20th anniversary Platinum Dream Gala brought together 500 business leaders, sponsors and organization supporters to help raise more than $1.1 million for diabetes research.

ADDENDUM

Pacific Sunwear of California Inc. in Anaheim filed for bankruptcy protection and said it will convert debt into equity for creditor Golden Gate Capital.

Low-Rise Office Market Vacancies Rose in Q4

The last half of 2015 was sluggish for the low-rise office market in Orange County, though the year-end numbers were healthy.

Menlo Lists Mazda’s Current Spectrum Home for Sale

Carmaker to Relocate From Site With Growth Potential

The Irvine Spectrum home of Mazda North America Operations has been put on the market about three months after Orange County’s largest automaker announced plans to relocate to a new office tower down the street.

Growth Hack Gives Full Time to Promotion Technique

Entrepreneur Who Coined Term Has 150K Followers

An OC resident who’s an expert on “growth hacking” is now focused on the pursuit full time. Sean Ellis, who famously coined the term when he was at San Francisco-based Dropbox, just sold his survey business, Qualaroo, so that his team could focus on its sister business, GrowthHackers.

Chinese Buyers Want More Than Big Houses

Developers, Backers Buy Into Commercial Market

Beijing-based Anbang Insurance Group Co.’s bid to buy two of Orange County’s premier resort properties—Montage Laguna Beach and The Ritz-Carlton, Laguna Niguel—as part of a larger national portfolio deal marks a new high-water mark in Chinese companies’ recent investment push into the area’s commercial real estate sector.