OCBJ WEEKLY EDITION
Sales and leases of offices, industrial buildings, retail space and apartments
GGC Inc. sold an industrial building in Santa Ana for $1.6 million to Santa Fe Street LLC, a unit of concrete and asphalt company Allstar Paving Co.
The Greater Los Angeles office market had pockets of positive activity in the second quarter, but overall progress was slim.
Oceanfront Site Could Command Prices of $11M+
Construction on Aerie, an ultra-luxury condominium development in Corona del Mar more than 10 years in the making, is about to start.
Markets Cooperate as Entries Tally $54B
All the ingredients pointed to another good year for the richest residents of Orange County: an extraordinarily strong run in stocks, continued briskness in the commercial and residential real estate sectors, and some surprising resilience in the bond market.
REAL ESTATE: Towers in Houston, Chicago bring $216M in profits
Companies headed by OC’s wealthiest residents are proving to be a profitable source of business for Newport Beach-based KBS Realty Advisors.
National Organization Joins in $20M Commitment to College-Bound Kids in Need
Call them Simon Scholars with something extra.
5 Ready to Receive Well-Heeled From All Over
Orange County isn’t just home to a lot of wealthy folks.
Great Park Campus Could Fit Thousands More Workers
The Great Park office campus designed to hold the new headquarters of Broadcom Corp. suggests that the chipmaker—currently in the midst of cutbacks—could be preparing to add several thousand jobs in Orange County over about the next five years.
Annual Survey Delved Deeper With Employers, Workers
The latest batch of Orange County’s best places to work earned the distinction after a heightened research process.
APPAREL: Sock maker gets $25.9M from steady investor
A San Clemente-based sock maker is looking to fortify its position in key global markets, backed by a recent investment from a long-standing financial backer.
HEALTHCARE: Q2 report, projections put valuations well beyond $52B bid
Allergan Inc.’s promise of cost cuts and higher profits might have put the company out of its hostile suitors’ reach.
REAL ESTATE: About 800 rooms under construction or planned in city
A two-building office site in Irvine that’s about a block from John Wayne Airport is being eyed for a hotel development.
Staffing Firm Head Said It Makes Own Workers Priority
Harlan Royce was out of work for nearly three years by the time he made contact with Staffmark.
Tech Firm Zumasys Uses Trust to Tap Workers’ Best
Nine years ago, someone special walked into Zumasys Inc.’s Irvine headquarters for a job interview for a warehouse position.
Hughes Marino Involves, Builds Up Employees
When Shay Hughes, chief operating officer of commercial real estate company Hughes Marino, started to plan the business’ quarterly retreat three years ago, she wanted it to be memorable, not only for its stunning location—Pelican Hills Golf Club—but also for what people would take away from the event.
The Business Journal’s Best Places to Work lists are the result of months of surveying workers and management at local employers.
Always do the right thing. Ask yourself these five questions: Is it right for the client? Is it right for the company? Is it ethical? Is it something you are willing to be held accountable for? Is it the right thing to do?
The quick takeaway from last week’s Allergan action: Round 1 goes to David Pyott on points—and an acquisition would knock Valeant out cold
REAL ESTATE: Bond money backs community college plans
Student housing, new classrooms, a parking structure, and a boutique hotel are among the more than 1.3 million square feet of new buildings and facilities being considered for the campus of Orange Coast College in Costa Mesa.
HOSPITALITY: Lobby lounge, Starbucks next for upgrades
The largest hotel in Orange County is nearly done with the most visible parts of a touch-up worth several million dollars.
FINANCE: Featured in ads, opponents take different view
An advocacy group protesting a proposed acquisition by Irvine-based Banc of California Inc. wants former Los Angeles Mayor Antonio Villaraigosa to broker a deal and end the dispute.
MEDIA: Gets account for rural retailer in industry shake-up
The publisher of Cat Fancy magazine has pounced on an opportunity to add a large outside account to its distribution operations.
EDUCATION: Puts $130M into school of science and tech
Chapman University had no formal school of science six years ago.
MARKETING: Chain takes long view on younger customers
Monthly reports indicate that all is well at Irvine-based restaurant operator Galardi Group Inc.—sales are up at its Wienerschnitzel, The Original Hamburger Stand and Tastee Freez franchises throughout the nation.
Irvine-based chipmaker Broadcom Corp. last week offered some details on its plans to cut about 20% of its workforce and consolidate or close 18 locations around the world as part of a restructuring plan prompted by the wind down of its unsuccessful baseband business.
Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson left the company, Real Mex confirmed, declining further comment.
Brea-based natural food products distributor Nature’s Best agreed to be acquired by KeHE Distributors LLC in Naperville, Ill., on undisclosed terms.
Newport Beach-based hotel sales and marketing company Preferred Hotel Group said it produced $420 million in reservations for member hotels in the first six months of the year, including 41 hotels added to its roster. Member hotels grew room nights 18% and bookings by 20% in the year-over-year period. The Business Journal estimates the company’s 2013 revenue at $70 million.
Prospect Perks Range From Cocktails to Tennis
There are distinctive techniques for marketing a luxury home that go beyond listing the house on the Multiple Listing Service and hosting an open house.
One Gets Device Clearance, Other Files Submission
Two small medical device makers in South County have had recent dealings with the Food and Drug Administration.
Channel Features Videos Shot With Red Equipment
No one is too good for YouTube. Red Digital Cinema Camera Co. in Irvine has launched an official YouTube channel, Shot on Red, which features 29 videos produced with the company’s 4K-resolution digital still and motion cameras.
Google, Amazon Entries Likely No ‘Big Problem’
Google Inc. and Amazon.com’s recent entrance into the emerging solid-state drive market doesn’t appear to pose an imminent threat to Irvine-based memory products maker Western Digital Corp. or its Cupertino rival, Seagate Technology Inc.
A private trust sold a 19,402-square-foot retail strip center in Lake Forest for $7.4 million to investor Jin Yu Inc.
Construction of speculative industrial buildings in Orange County was in full swing during the first quarter, though construction of speculative offices had yet to begin and retail remained slow.
EEC to Move HQ From Santa Ana With Deal
Environmental Engineering & Contracting Inc., a Santa Ana-based environmental consulting firm, said it plans to relocate its headquarters to the City Plaza office tower in Orange in September.
Paris-Based Parent Prods Change at OC Label
Volcom Inc. has outgrown its rebellious stage.
LAW: Recent combination aims for national client roster
Tim Busch and Michael Caspino have a clear growth plan in mind for their newly formed law partnership: make it the go-to firm for cases involving Roman Catholic entities nationwide.