OCBJ WEEKLY EDITION

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

OC Petroleum LLC sold a seven-unit auto retail center and warehouse in Huntington Beach to Kenneth Ochi for $5.4 million, or $185 per square foot.

French Connection for Software Company

TerraManta Execs Headed to Paris

How do geopolitical factors influence global commodities prices? That’s the question that an early-stage software company in Irvine answers with software using artificial intelligence.

Hoag Orthopedic Puts Business Structure on Display

Physician Ownership Model Desirable in China

China’s health system, which serves nearly 1.4 billion people, is moving toward an increasingly private, for-profit model to provide better care.

Business Bites

Other items of interest Orange County Business Journal Vol. 40, No. 36

The University of California-Irvine said Aliso Viejo-based chipmaker Microsemi Corp. donated $1.5 million to the university.

Water Features

High Tide of Renovation to Hit Coast

The next big redevelopment push in Orange County looks to come dockside.

Tease photo

Firms Fight Terrorism With Tech

Public Safety and Security Soon $500B Market

Two Orange County technology companies are trying to cut down emergency response times when seconds can mean the difference between life and death.

Tease photo

No Model, No Problem

Brisk Sales in Irvine, Even Without Them

This month’s grand opening of a collection of three new home types at Irvine’s Eastwood Village community had a bit of a carnival atmosphere, with an assortment of food trucks, balloons for children, and other giveaways for the more than 1,000 people who braved the summer heat.

Tease photo

Tofu Maker Doubles Down on OC Presence

House Foods Unit Aims for $89M in Annual Sales

House Foods America Corp., a Garden Grove-based manufacturer of tofu, noodles and other Asian-influenced food products that’s seen a surge in business the last decade, has bought an office next to its headquarters for what looks to be a potential expansion of its local operations.

Tease photo

St. Joseph Hoag to Get New CEO in 2018

Richard Afable Retiring, Oversaw St. Joseph Alliance

When two Catholic health systems, Providence Health Services and St. Joseph Health, merged last July, they created a 50-hospital system based in Renton, Wash., with headquarters in Renton and Irvine.

Tease photo

Startups Build OC Into Front in Cybersecurity War

Obsidian, Veracity, Others Step Into Breach for Firms

Early this year, Glenn Chisholm was contemplating leaving the chief technology officer role at security software maker Cylance Inc. in Irvine.

UCI Institute Helps the Helpless Fight Cybercriminals

New Clinic Walks Victims Through Cleanup Process

Bryan Cunningham’s vision, crafted over the past year to create one of the country’s top cybersecurity policy and prevention centers, is taking shape at the University of California-Irvine.

OC’s Top Software Firms Added Jobs, Grew Ranks

Six List Newcomers in Hot Spaces: AI, Gaming

A mix of new and established companies helped Orange County post solid job growth in the software sector for the second consecutive year.

OC Insider

Do The Strand

You’d have won bets in the ’90s backing a padlocked, degraded piece of land overlooking the ocean in Dana Point to be built out, with local-to-coastal commission blessing. Twenty years and 120 of the priciest lots in OC later—you’d be sitting on a parlay.

Bonti Tackles Neurotoxin With Dual Verticals

HEALTHCARE: Starts 2nd-phase pain management trial

The market opportunity for facial injectables is an attractive one—it’s likely to grow more than 11.5% globally from $6.5 billion last year to $7.2 billion in 2020, according to a recent market research report by Grand View Research Inc. in San Francisco.

Egypt Seeks Advice of Newport Wealth Management

FINANCE: Laila Pence honored by native country

Egypt turned for financial advice to one of Orange County’s top wealth managers—Pence Wealth Management co-founder Laila Pence.

Familiar Names Buy Broadcom Campus

REAL ESTATE: Starwood, Rockpoint invest in Irvine site

Regulatory documents are shedding a bit more light on FivePoint Communities Inc.’s blockbuster purchase of Broadcom Ltd.’s four-building, 73-acre campus under construction at Great Park Neighborhoods in Irvine this month.

Business Journal Hears Update on the Reserved Tsaos

Arts, Charity, Mentoring The Focus, Not Retirement

The Business Journal recently caught up with Victor Tsao, who splits his time between Asia and Orange County.

Auction.com’s New Logo, Slogan Tell Whole Story

Branding Changes Follow Parent Co.’s Recent Sale

Irvine-based real estate marketplace Auction.com, whose parent company, Ten-X, agreed this month to be acquired by Thomas H. Lee Partners LLP for about $1 billion, unveiled a new logo, a “Beyond The Bid” slogan, and an “updated design aesthetic that reaffirms its commitment to provide buyers and sellers with optimal disposition strategies for faster executions.”

Calendar

Aug. 28-Sept. 6, 2017

• Studio SoCal hosted by Rick Reiff and Elizabeth Espinosa (KOCE-TV/PBS SoCal), Friday 7 p.m., Repeats Sunday 5 p.m., Monday 5:30 p.m., Wednesday 5:30 p.m., Guests: TBA

Three Luxury Teams Earn Spots in America’s Top 10

2016 Sales Put Them At Heights of US Industry

REAL Trends America’s Best Real Estate Agents, a newly issued ranking report produced by REAL Trends and sponsored by Zillow Group, has released the rankings of the top-producing real estate agents and teams in the country. Orange County boasts three luxury real estate teams in the top 10.

China-Based Funding Firm Opens at The Cove

Cybernaut Adds Weight To Existing Firms There

A China-based venture capital and private equity firm chose Irvine as its first outpost in Southern California. Cybernaut Green Tech USA Inc. opened an office at The Cove, the physical space of the University of California-Irvine’s innovation institute, Applied Innovation. The Irvine location is significant.

MYnd Analytics Forms Four-Way Collaboration

Behavioral and Mental Health High on Agenda

Treating mental disorders is a tricky business. There are some powerful drugs that target some of the more serious imbalances in brain chemicals that are linked to depression, but little is known regarding the optimal treatment of patients—including the effectiveness of those medications.

Plans for Mixed-Use Project in Little Saigon Unveiled

Hotel, Apartments, Retail And Festival Street Eyed

Plans for a big mixed-use development in the Little Saigon area of Westminster have been unveiled by the project’s local design team.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

JVK-CA Holdings LLC sold an office building in Irvine to EBA&M Corp. for $5 million, or $274 per square foot.

Business Bites

Other items of interest Orange County Business Journal Vol. 40, No. 35

California students of the defunct Corinthian Colleges Inc. will receive $51 million in student loan relief, California Attorney General Xavier Becerra said, joining other U.S. attorneys general in the announcement. The AGs struck the deal alongside the Consumer Financial Protection Bureau. An Oregon bankruptcy judge must give final approval.

Investment Bucks US Trends First Half of Year

In the first half of the year, sales of commercial properties in the Orange County market rose 12% year-over-year, nearly reaching $3.5 billion and bucking regional and national trends of moderated activity.

Allied Universal's Explosive Growth

CEO Shows How to Get to 150K Employees

If Allied Universal, a security company with 150,000 employees, was an army, it’d be the 34th largest in world, right behind Japan’s.

Tease photo

SF Investor’s Lake Forest Buys Likely to Top $110M

Drawbridge Gets HQ of Panasonic Avionics

San Francisco-based commercial real estate investor Drawbridge Realty has made its second Orange County office purchase in as many years, picking up the Lake Forest headquarters of Panasonic Avionics Corp.

Genesis to Leave Hyundai Nest and Set Itself Apart

AUTOMOTIVE: Luxury brand establishes exclusive identity

Genesis’ winged logo was perhaps a sign of things to come. The luxury brand Hyundai Motor Co. launched in November 2015 is about to fly the coop.

Tease photo

City of Irvine’s Got Speed And Hits for Power

Anaheim Leads Cities Roster

Imagine Angels outfielder Mike Trout on an exceptional day—the final score could read “Trout 7, White Sox 2,” —and you get an idea of Irvine compared to its city-mates in Orange County.

Peregrine to Separate Manufacturing from R&D

HEALTHCARE: Proxy battle looms at annual meeting

Pharmaceutical research and development is a risky venture—big financial returns on the drugs that make it to market, which will be outnumbered by the majority of drugs that don’t. And then there are the drugs that come close.

Garden Grove Plots Ambitious Hotel Growth Plan

Projects Could Grow Bed Taxes by 21% in 5 Years

Garden Grove economic development officials promote their city in marketing materials as “Southern California’s undiscovered jewel.”

Startups See Room for Improvement in Office Sector

Say Tech Streamlines, Increases Buys, Sales

Two Orange County tech startups are helping lead the way in bringing the small-business segment of the commercial real estate industry into the modern age.

Landlords Own Office Market But Rate Hikes Should Ease

Orange County office market favors landlords due to the low availability rate. Though strong employment growth here had been a boon for leasing for much of the cycle, it recently tapered significantly due to low unemployment rates.

Industrial Space Still Tight; Little Construction on Way

Industrial fundamentals remained consistent, despite activity declining during the quarter as a result of a tightening market, leaving fewer options.

Retail May Have Reached Post-Recession Norm

Retail market fundamentals continued to strengthen despite continued big-box closures. Though slight, second-quarter changes further displayed demand for retail and its importance for the segment in the Southern California market. Prime coastal and inland centers, coupled with a diverse and steady workforce, help sustain retail need year-round, and strong tourism in the summer supplies a midyear sales boost.

OCInsider

Mistakes, Moats, Culture…

Every culture has its own lexicon, slogans. Here’s some business precepts I still see a lot—old and new and very true.