Orange County Business Journal

OCBJ WEEKLY EDITION

real estate deals

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.

Greater LA Office Market Shows Spotty Progress

The Greater Los Angeles office market had pockets of positive activity in the second quarter, but overall progress was slim.

Long-Planned CdM Luxury Condo Project Starts Soon

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.

No Summer Swoon for Wealthiest

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.

KBS Fills Big Niche With Sales to Pimco, Irvine Company

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.

Simon Scholars Find New Friend in Horatio Alger

National Organization Joins in $20M Commitment to College-Bound Kids in Need

Call them Simon Scholars with something extra.

OC's Remarkable Roster of Resorts

5 Ready to Receive Well-Heeled From All Over

Orange County isn’t just home to a lot of wealthy folks.

What’s on Broadcom’s Drawing Board?

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.

Best Companies Rise to Top With Closer Look

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.

Stance Takes Growth Stance With New Cash

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.

Allergan Raises Bar on Raiders With Cost Cuts, Pledge on Profits

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.

Another Business Hotel in Works for Irvine

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.

Perfect Match Starts With Taking Care of Team

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.

Company Culture Breeds Independence, Commitment

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.

Real Estate Company’s ‘Core Value’ Its People

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.

How Best Companies Make Lists

The Business Journal’s Best Places to Work lists are the result of months of surveying workers and management at local employers.

Hughes Marino’s 10 Core Values

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?

Pyott on Points; Goodwill Gala; Reiff Steppes Up

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

Student Housing, Hotel for Orange Coast Campus?

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.

Another Round of Renovations at Hilton Anaheim

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.

Ex-LA Mayor Stars in OC Bank’s Deal

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.

I-5 Publishing Expands Distribution Business by 30%

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.

Chapman Sees Chance to Grow Business Links With Schmid

EDUCATION: Puts $130M into school of science and tech

Chapman University had no formal school of science six years ago.

Wienerschnitzel’s Millennial Out to Win Over Peers

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.

Broadcom Backs Off Baseband Business

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.

Real Mex Restaurants CEO Leaves

Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson left the company, Real Mex confirmed, declining further comment.

Illinois Firm to Buy Food Distributor

Brea-based natural food products distributor Nature’s Best agreed to be acquired by KeHE Distributors LLC in Naperville, Ill., on undisclosed terms.

ADDENDUM

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.

How High-End Agents Master Marketing of Luxe Homes

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.

San Clemente Device Companies Make FDA Moves

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.

Red Digital Takes Its Fancy Camera Work to YouTube

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.

Western Digital’s Share of SSD Market Safe for Now

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.

real estate deals

A private trust sold a 19,402-square-foot retail strip center in Lake Forest for $7.4 million to investor Jin Yu Inc.

First Quarter Sees Commercial Construction in Full Swing

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.

Lease at City Plaza Backfills Old Law Firm Space

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.

Volcom’s New Vision

Paris-Based Parent Prods Change at OC Label

Volcom Inc. has outgrown its rebellious stage.

Irvine Firm Seeks Business Virtue in Catholic Practice

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.