OCBJ WEEKLY EDITION
43 Combine for $84.1 Billion, Mirroring Year-Earlier Rise
Commercial banks in Orange County continued to grow local deposits, notching another 8% increase over the year through June for a total of $84.1 billion.
A big chunk of the Irvine Company’s operations outside of OC got a lengthy overview in a recent issue of the Silicon Valley Business Journal, which put some meat on the bones of a 25-year process that has seen Donald Bren amass 7,000 apartment units and 4 million square feet of office space in the region.
ADVERTISING: Gets in game with spots on NBC Universo
Mitsubishi Motors North America Inc. highlighted its increasing focus on the Latino-American market with Super Bowl ads slotted for the Spanish-language telecast of the game on NBC Universo.
HEALTHCARE: Likely to oversee all of ‘medical enterprise’
The search for a new chief executive for UC Irvine Medical Center will likely take awhile as another key job gets reconfigured.
RETAIL: Focus on military members active in past 2 years
Orange-based franchiser Budget Blinds Inc. said it will waive a $75,000 franchise fee for qualified recent military veterans interested in starting their own window covering business.
RESTAURANTS: ‘Tap rooms’ in works at about 50 locations
ZPizza International Inc. said it will add 50 “tap rooms” at some of its current locations and all new restaurants expected in a franchising push that comes as the 28-year-old chain responds to competition from fast-casual and build-your-own competitors that have blossomed in recent years.
Chicago-based Strategic Hotels & Resorts Inc. bought the Montage Laguna Beach for $360 million, the hotel investor said.
San Juan Capistrano-based search engine Maana Inc. raised $10.8 million, according to a recent filing with the U.S. Securities and Exchange Commission.
Chapman University in Orange named angel investor and entrepreneur Shan Steinmark the new director of its Leatherby Center for Entrepreneurship and Business Ethics.
San Clemente-based USGI Medical Inc. raised more than $19.5 million from equity and debt investors.
CALL FOR ENTRIES: Website set to take entries until March 20
The Business Journal is working on its annual list of the best places to work in the county.
Other items of interest Orange County Business Journal Vol. 38, No. 5
Walt Disney Parks and Resorts notified the state Employment Development Department on Jan. 15 that it will lay off 85 employees from a Fullerton location, effective May 29.
One Had Been Held By Same Owner for 40 Years
A recent flurry of luxury home sales illustrated the range—in terms of style and price—of the high-end market in Orange County.
This week's business and other event listings.
Valeant CEO Talks To Financial Times
Valeant Pharmaceuticals International Inc.’s chief executive is speaking out on his company’s unsuccessful seven-month pursuit of Irvine-based drugmaker Allergan Inc.
O’Brien Puts Irish Twist Into Chain’s Test Kitchen
Late-night TV host Conan O’Brien was on a quest to make his IT guru Chris Hayes’ dreams come true with a visit to Taco Bell Corp.’s test kitchen, but he probably did the same for the Irvine-based fast-food chain’s marketing manager, Katie Gardiner.
The Inland Empire industrial market had many positive economic signs throughout 2014, an indication the region is still substantially expanding. Growth of tenants has largely propelled the activity.
App Gives Details On Locales Via Photo
An Irvine startup launched by two siblings who are University of California-Irvine graduates has launched an iOS app that culls information within seconds on locations, attractions and landmarks with the snap of a photo.
Sales and leases of offices, industrial buildings, retail space and apartments
Nan-Hsing Cheng sold an industrial building in Placentia to Dayton Family Trust for $2.7 million, or $134 per square foot.
Win-Dor Site Once Eyed For 20-Story Office Tower
Golden Road Brewing, a growing craft beer maker based in Los Angeles, has snapped up an industrial building across the street from Angel Stadium for its first Orange County location.
HEALTHCARE: Latest FDA trial, manufacturing set to start here
What could be the most advanced attempt to bring stem cell treatments to the market could start any day now in Orange County.
AUTOS: Chinese billionaire vows to restart stalled luxury hybrid brand
About 140 employees at Fisker Automotive and Technologies Group LLC are packed in a conference room to meet the man behind the automaker’s comeback bid.
REAL ESTATE: Park Place lease could bring sale of Santa Ana HQ
Ingram Micro Inc., Orange County’s largest company by sales, is expected to move its headquarters from Santa Ana to Irvine after signing a large office lease at the Park Place mixed-use campus.
Orange County’s hotel and resort properties have spawned an industry of local companies that help with everything from purchasing and Pinterest to mints on the pillow.
Office, For-Sale Projects Eyed Alongside More Apartments
The development of the Platinum Triangle area in Anaheim is entering its second decade, and the 820-acre swath of land around Angel Stadium remains poised to be a hub of apartment construction.
Offices Could Join 1,600 Planned Apartments
Nearly 30 acres along a busy stretch of Jamboree Road in Irvine have sold over the past few weeks or are expected to soon, with plans for apartment and office development expected to start on the sites.
The Orange County office market, building on an already-successful 2014, is gaining momentum through the turn of the year.
The Orange County industrial market was tight throughout most of 2014, a sign that the region is in need of a significant amount of new construction and development projects on top of its current 253 million or so square feet.
The L.A. Times plucked its latest big hire from the OC Register’s backyard, tapping UCI grad and Monarch Beach resident Don Reis as chief revenue officer.
REAL ESATE: Too Faced adds space amid reports of sale
Too Faced Cosmetics LLC, an Irvine-based cosmetics company that’s said to be considering a sale, has inked a lease for a much larger headquarters in its hometown.
FINANCE: NB-based firm busy with small-stake strategy
Newport Beach-based investment firm Kodiak Capital Group LLC is off to a busy start this year with several deals on the books and plans to consolidate its East Coast operations in Orange County in coming months.
THE LIST: Blizzard buyout tipped field’s total
The biggest foreign-owned companies in Orange County employ just more than 27,000 workers here, a decrease of about 1% from a year earlier.
HOSPITALITY: High-end resorts compare well with LA, SD
A couple of annual rankings and ratings of hotels, resorts and restaurants provide some fresh perspective on Orange County’s hospitality trade, which shows up strongest at the highest end when compared with neighbors to the north and south.
Lake Forest-based Del Taco LLC said it will begin franchising in New Jersey, its first restaurants in the Northeast.
Santa Ana College and Cypress College were named to a list of 15 community colleges in the state that can offer four-year college degrees, according to the California Community Colleges chancellor’s office.
Newport Beach-based Alliant Insurance Services Inc. agreed to pay about $300 million to acquire QBE US Agencies, the U.S. operations of Sydney, Australia-based QBE Insurance Group Ltd.
Irvine-based Standard Pacific Corp. is the lone locally based homebuilder tapped to build homes at Beacon Park, the second community planned for Great Park Neighborhoods.