OCBJ WEEKLY EDITION
Anyone who doubts that science and technology are all over the place—or that Orange County is all over tech—can check our Chris Casacchia’s front-page piece on the CES show in Las Vegas.
HOTELS: $53M estimate for 302-room property near JWA
The Hilton Irvine/Orange County Airport has been sold to a San Jose-based investor.
SERVICES: Alorica grows list of industries, geographic reach
Alorica Inc. has purchased some units of Omaha, Neb.-based West Corp. for $275 million.
Newport Beach-based accounting firm Anton & Chia LLP has entered into a joint venture with Morine & Co. Chartered Accountants LLP in Vancouver.
HEALTHCARE: 3-building center expected to open in 2016
Put Irvine and Hoag down as a good match.
EDUCATION: Draws from ethnic communities here, overseas
A for-profit school in a modest office park in the shadow of Angel Stadium in Anaheim has quietly grown sixfold in three years—and it has its sights on more.
CALL FOR ENTRIES: Website set to take entries until March 20
Is your workplace great?
Wet Seal Inc. said it is closing 338 stores and will lay off 3,695 full- and part-time employees “after assessing its overall financial condition” and failing to “successfully negotiate meaningful concessions from its landlords.”
Irvine-based Habit Restaurants Inc. signed its first international expansion deal, an agreement with an area franchiser in the Middle East to develop 50 restaurants in six countries over the next 10 years.
Newport Beach-based alternative fuel developer and supplier Clean Energy Fuels Corp. sold its majority stake in a biomethane production facility in Dallas to a minority owner for $40.6 million.
Irvine-based Impac Mortgage Holdings Inc. agreed to acquire the mortgage operations of CashCall Inc. Terms were not disclosed.
The Irvine Marriott will be one of the hotel chain’s first sites to cultivate food and beverage business ideas under a new program for chef-entrepreneurs by Bethesda, Md.-based Marriott International Inc.
The destination marketing organization for Newport Beach is using images gathered by a drone to promote the city at U.S. trade shows and in London.
More than 700 Pacific Investment Management Co. employee volunteers, friends and family members gathered at the OC Fair & Event Center in Costa Mesa on Dec. 6 to pack 16,000 boxes with a holiday meal for needy families in Southern California.
Other items of interest Orange County Business Journal Vol. 38, No. 2
Wet Seal Inc. hired restructuring lawyers and may file for bankruptcy as early as next week, sources familiar with the matter told the Wall Street Journal.
Jan. 12-21, 2015
This week's business and other event listings.
Activity in the low-rise office sector continued its positive momentum in the third quarter, generating 145,774 square feet of positive net absorption.
Aims to Increase Brand Awareness, Sales Efforts
Huntington Beach startup olloclip has hired Irvine-based Moss Adams LLP to help the company attract institutional investors.
Three-Building Campus Last Sold for Reported $130M
LBA Realty and KBS Realty Advisors, two of Orange County’s most active commercial property investors through much of 2014, wrapped up the year with a blockbuster transaction in Northern California.
Sales and leases of offices, industrial buildings, retail space and apartments
Shabani Investments LLC sold an industrial building in Tustin for $3.6 million, or $197.22 per square foot, to Subaru Research and Development Inc.
Advertising spending in the U.S. is expected to increase 2.7% in 2015 to $169.5 billion, according to the Magna Global research firm in New York, which reported a 4% hike this year.
This week's business and other event listings.
$68B Deal Puts Allergan Boss in First Position
David Pyott expected 2014 to be a year of hunting for deals.
REAL ESTATE: Provider, insurers snap up former subprime turf
Obamacare was a boon to the health of Central Orange County’s office market in 2014.
HEALTHCARE: Clinton expected at Masimo-backed summit in Irvine
The new leader of an Orange County-based patient safety movement is calling for more employer involvement as participants get ready for an annual conference slated to take place in Irvine this month.
TECHNOLOGY: Hitches ride with GM for debut at tech’s big show
More than 100 Orange County companies will be in Las Vegas this week for the world’s largest technology convention.
Healthcare remains integral and then some to OC’s economy, even as Irvine-based drugmaker Allergan Inc. gets ready to exit the stage as the largest publicly traded company based here
HEALTHCARE: Gets option to buy Menlo Park-based startup
Irvine-based Edwards Lifesciences Corp. has dipped its toe into the investment waters of the medical device business.
REAL ESTATE: Sheds odd fit, uses some of profit in Atlanta
Newport Beach-based Olen Properties has sold one of its local holdings, a business park in Santa Ana that it owned for less than three years.
Irvine-based RJI Ramirez Jimenez International CPAs has acquired an accounting firm in the Inland Empire on undisclosed terms.
Longtime Equities Investor Puts $65 Million Into Family Ties
Dick Pickup sips an Arnold Palmer and wonders why all the attention.
Great Park Developer Lands Broadcom for Commercial Anchor
Emile Haddad caught the big fish in Orange County’s office market last year.
Market Cap Near $800M After El Pollo Loco Leaves ‘No Stone Unturned’
El Pollo Loco Holdings Inc. President and Chief Executive Steve Sather is our Business Person of the Year for restaurants—but it took nearly a decade to pull it off.
Virtual Reality Gets Real
Catching up with Palmer Luckey is a lot more difficult these days.
Busy Buyer Builds Regional Insurance Brands With Latino Focus
Confie Seguros Insurance Services is getting big with a lot of small moves.
Larry Cano Left Stamp On Ever-Dynamic Food Scene
We recently lost Larry Cano, a true icon not only in Orange County dining but a major player in introducing America to sit-down Mexican dining and cuisine at a sophistication level way above the familiar taco genre.
Other items of interest Orange County Business Journal Vol. 38, No. 1
Orange-based First Security Business Bank was acquired by San Diego Private Bank on undisclosed terms.