OCBJ WEEKLY EDITION
STARTUPS: WeWork joins local field with two floors at Spectrum tower
Co-working spaces have thrived in Orange County for years among entrepreneurs who desire a more casual, open work environment and perks such as beer on tap and monthly networking events.
REAL ESTATE: Greenlight parent takes 150,000 SF in Santa Ana
The parent company of Greenlight Financial Services, a mortgage company with sizeable operations in Orange County, has struck a deal to relocate much of its local employee base to Santa Ana in what looks to be a blockbuster office lease.
APPAREL: Boosts eyewear, centralizes operations under Milan
Oakley Inc. parent Luxottica Group SPA is rooting for its own at the Olympic Games in Rio de Janeiro this month, tallying medals won by Team Oakley.
East Coast Chain Taps Villa Park-Based Franchisee to Lead on New Look, Amenities
Irvine-based Dunkin’ Donuts franchisee Parag Patel will spearhead a new restaurant design for the national chain, with plans to open 20 franchised locations spread over Orange and Riverside counties within two to three years.
Local Systems Have Talked With Employers
Fountain Valley-based MemorialCare Health System is the first local participant in an early movement by big employers to rein in healthcare prices.
First of all, healthcare quality and reductions in the cost of care aren’t mutually exclusive. In fact, as we improve quality, we usually become more efficient, and that means better, more affordable and accessible healthcare for those we serve.
Growth on Hold As Planned M&As Scrutinized
Orange County’s top eight health maintenance organizations grew slowly during the 12 months through July.
Membership Flat at 13 Biggest To 2.6 Million
Membership at managed dental healthcare plans operating in Orange County slightly declined over the year ended last month after a surge in 2015.
How OC’s Wealthiest Got Much Wealthier
This year’s crop of OC’s richest residents managed to outpace the market by a longshot, thanks to a number of additions and several deals that helped boost the combined wealth of the 45 entries to $72.5 billion.
New Career at Newport Beach-Based Storytelling Enterprise ‘Feels Right’
Kobe Bryant has enlisted some Hollywood big men to craft the next chapter of his life after basketball.
Michael Harrah’s long-awaited One Broadway office tower in Santa Ana has always been expected to eventually become the commercial real estate developer and owner’s crowning local achievement.
James Jannard was up at 4 a.m. last week, venting on Red Digital Cinema Camera Co.’s online users forum.
The dining room table is Vinny Smith’s preferred office these days.
REAL ESTATE: Energy drink execs pay $95M for Savi Tech Center
The wealthy local duo that runs Corona-based Monster Beverage Corp. has bought Yorba Linda’s biggest office complex in one of the largest property sales so far this year in Orange County.
Our OC’s Wealthiest list—the centerpiece of this week’s issue and accompanying special section—is about more than money.
APPAREL: Also in deal with MLB on skateboard insignia
Element is after customers in the “urban outdoor enthusiast” crowd who might have left skateboarding behind but still recall it fondly.
Irvine-based Koll Co. has made its largest purchase in nearly five years, picking up a massive logistics and distribution center in Phoenix.
REAL ESTATE: Costa Mesa hub of ‘destination’ tenants
The Triangle, the once-troubled Costa Mesa mall that’s been converted into a thriving entertainment and restaurant center over the past few years, is for sale.
45 Entries, $72.5 Billion, 5 New Names, 19 Billionaires
Jena, Germany-based Carl Zeiss Meditec AG said veteran Orange County medical device executive James Mazzo will be its new global president of ophthalmology.
Irvine-based Western Digital Corp. co-led a $77 million funding round for a Redwood City startup with noted Silicon Valley venture capital firm Kleiner, Perkins, Caufield and Byers.
Orange County opened more hotel rooms in the first six months of the year than any county in California, but its future pace will give way to other areas, according to a recent report.
Visit Dana Point named Sean Keliiholokai executive director, effective mid-August.
ECONOMY: Centerpiece of Sept. 19 Special Report
Is your company growing fast?
The 20th annual Stars & Stripes Tournament, a four-day fishing, golf and music fundraiser, reeled in a record-shattering $3 million for youth organizations in Orange County and Mexico.
Laguna Niguel Loses Two; Bistango, Others Refresh
Savannah Chop House at Golden Lantern and Camino del Avion in the Ocean Ranch Village of Laguna Niguel is closed.
Its Kits of Standout LEGO Designs Promote Creativity
An Aliso Viejo company created by and for LEGO construction toy aficionados recently launched.
Other items of interest Orange County Business Journal Vol. 39, No. 31
A new ride will replace the Twilight Zone Tower of Terror at Disney California Adventure, according to news reports.
Takes Helm of Chapman, South Coast Global Centers
A pair of Orange County hospitals has a new chief executive.
Sponsors Launch, Puts Flicks on TV-Control App
Vizio Inc. partnered with Paramount Pictures Corp. to mark the July 22 theatrical release of “Star Trek Beyond.”
Aug. 1-10, 2016
This week's business and other event listings.
The Inland Empire office market has advanced quietly in the past five years.
Douglas Acquisitions Picks Up Lake Forest-Based Firm
Quantum Fuel Systems Technologies Worldwide’s recent sale to Douglas Acquisitions LLC may provide the runway and resources to finally put the Lake Forest-based company on solid financial ground after years of tweaking its business model and product lines.
Sales and leases of offices, industrial buildings, retail space and apartments
BC2 Environmental, a provider of environmental and geotechnical drilling services, signed two five-year leases at 1150 and 1250 W. Trenton Ave. in Orange for $2.1 million.
Nexus Cos.’ Vivante To Add Another 111 Units
Vivante on the Coast, a high-end retirement community near Hoag Memorial Hospital Presbyterian in Newport Beach, is expanding.
Sometimes the global financial media does math with words rather than numbers.
HEALTHCARE: New center includes 4 institutes, urgent care
Hoag Memorial Hospital Presbyterian is making an aggressive push to deliver comprehensive healthcare services beyond its traditional base in Newport Beach and put a firm claim on a market it calls “Greater Irvine” through a large development there.