Orange County Business Journal

OCBJ WEEKLY EDITION

Co-Working Goes High Profile

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.

Mortgage Firm Strikes Big Lease At Old Ingram HQ

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.

Streamlined Innovation Propels Oakley as Parent Exercises More Control

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.

Donuts to Dollars

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.

MemorialCare-Boeing Contract May Be First of Trend

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.

Q & A

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.

HMO Membership Flat in OC, PPOs Post 12% Rise

Growth on Hold As Planned M&As Scrutinized

Orange County’s top eight health maintenance organizations grew slowly during the 12 months through July.

Dental Care Plans’ Growth Stagnates Following Spike

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.

Big Wheels, Big Deals

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.

Kobe’s Transition Game

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.

Harrah Gets Case of Double Vision

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.

Latest Jannard Project ‘Most Mind-Numbing’

James Jannard was up at 4 a.m. last week, venting on Red Digital Cinema Camera Co.’s online users forum.

On Vinny’s Table: Impact Investing

The dining room table is Vinny Smith’s preferred office these days.

Monster Buy Of Yorba Linda Offices

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.

Big Bucks, Big Names, Big Ideas

Our OC’s Wealthiest list—the centerpiece of this week’s issue and accompanying special section—is about more than money.

Element Goes Outdoors, Debuts Line at REI

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.

Koll Co. Makes Phoenix Splash With $75M Buy

Irvine-based Koll Co. has made its largest purchase in nearly five years, picking up a massive logistics and distribution center in Phoenix.

The Triangle Center Seeks New Owner

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.

OC's Wealthiest

45 Entries, $72.5 Billion, 5 New Names, 19 Billionaires

Medical Device Veteran to German Firm

Jena, Germany-based Carl Zeiss Meditec AG said veteran Orange County medical device executive James Mazzo will be its new global president of ophthalmology.

Western Digital Co-Leads App Maker Round

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.

OC Tops in YTD Hotel Room Openings

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.

Chief of DP Destination Marketer Named

Visit Dana Point named Sean Keliiholokai executive director, effective mid-August.

Fastest-Growing Private Companies Wanted for List

ECONOMY: Centerpiece of Sept. 19 Special Report

Is your company growing fast? 

PHILANTHROPY

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.

Out With Old Tastes, in With New Across County

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.

Company Elevates Fun and Games to Art Form

Its Kits of Standout LEGO Designs Promote Creativity

An Aliso Viejo company created by and for LEGO construction toy aficionados recently launched.

ADDENDUM

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.

Former Lakewood Regional Chief New Hospitals’ Head

Takes Helm of Chapman, South Coast Global Centers

A pair of Orange County hospitals has a new chief executive.

Vizio Taps Into ‘Star Trek’ Universe for Movie Premiere

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.”

OCBJ Calendar

Aug. 1-10, 2016

This week's business and other event listings.

Inland Empire Office Market Improves in Q2

The Inland Empire office market has advanced quietly in the past five years.

Purchase of Quantum Fuel Could Bring Turnaround

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.

Real Estate Deals

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.

Luxe Retirement Project in Costa Mesa to Expand

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.

Turnaround Tag at PIMCO, Expansion Plans at PAAMCO

Sometimes the global financial media does math with words rather than numbers.

Hoag Expands on Claim in ‘Greater Irvine’ Area

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.