Orange County Business Journal

OCBJ WEEKLY EDITION

Luxury Homes Selling for Nearly Full Listing Price

Across Orange County, homes in the $4 million-plus market are fetching an average of 96% of their latest list prices, according to online real estate aggregator Redfin. Here’s a breakdown of OC’s most exclusive communities and how close selling prices are to list prices:

By Kim Haman July 3, 2017 midnight share »

Chao Family Gives UCI Health $5 Million

UC Irvine Health’s Chao Family Comprehensive Cancer Center said two new leukemia endowed research chairs would be named through a $5 million gift from the Chao family.

By Deirdre Newman July 3, 2017 midnight share »

OCBJ Calendar

This week's business and other event listings.

By Dana Truong July 3, 2017 midnight share »

CHOC Joins Rady Children’s to Improve Diagnosis

Children’s Hospital Orange County is collaborating with Rady Children’s Hospital San Diego to further improve molecular diagnosis of rare and common complex genetic diseases in children.

By Sherry Hsieh July 3, 2017 midnight share »

Mortgage Lender’s New Campaign Promotes Perks

LoanDepot LLC is in the midst of a “multimillion-dollar” branding campaign called “We believe in you,” featuring 30- and 60-second TV spots airing daily on broadcast and cable networks nationwide, including ESPN, CNBC, E!, MSNBC, Fox News, CNN and Direct Sports.

By Mediha DiMartino July 3, 2017 midnight share »

Western Digital, Toshiba to Argue in Court Over Flash

Circle July 14 on the calendar.

By Chris Casacchia July 3, 2017 midnight share »

Real Estate Deals

Trowbridge Vaughen Vivos Trust sold La Plaza Pacific, a multitenant retail and office building in Dana Point to Raintree Evergreen LLC for $6.6 million, or about $463 per square foot.

By Megan Cole July 3, 2017 midnight share »

Japan’s Nikken Eyeing Another Office Sale in Irvine

Nikken Inc., a Japanese health and nutritional product maker with local operations in Irvine, could be on the move again, depending on the results of the sale of its Orange County office.

By Mark Mueller July 3, 2017 midnight share »

B2B Augmented Reality Company Raises $1 Million

A Tustin-based company that’s combined augmented reality and cognitive computing for use in enterprise and business applications raised $1.2 million in early-stage funding from strategic partners, high net-worth individuals and local investors.

By Deirdre Newman July 3, 2017 midnight share »
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Carpet Co. Closure to Result in Big IBC Dealings

This month’s abrupt closure of Royalty Carpet Mills Inc. should result in several large real estate transactions, and possibly commercial development, in the area around John Wayne Airport.

By Mark Mueller June 30, 2017 10:34 a.m. share »
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Anaheim’s Stadium Towers Sell For Nearly $77 Million

An office tower next to Angel Stadium in Anaheim has traded hands for just under $77 million, the priciest reported sale of a Central Orange County office in over three years.

By Mark Mueller June 29, 2017 11:10 a.m. share »
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WAXIE Can’t Miss a Beat

Charles Wax’ most difficult moment as chief executive of WAXIE Sanitary Supply occurred in 2015 when a fire burned down the firm’s facility in Idaho Falls, Idaho.

By Peter J. Brennan June 28, 2017 9:13 a.m. share »
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Our 2017 Restaurant List Looks Healthy

OC-based restaurant chains are seeing such life that a few split from our list for a new chart.

By Paul Hughes June 27, 2017 9:43 a.m. share »
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Chapman Sees Lowest OC Job Growth Since 2009

The prospects for Orange County’s economy are dimming even more than California’s, according to Chapman University’s newest annual economic forecast.

By Peter J. Brennan June 26, 2017 9:48 a.m. share »

If It’s Not Fun, It Will Never Work

Jim Morris goes to Washington every June.

By Pete Weitzner June 26, 2017 midnight share »

Sister, Brother Believe in Bricks-and-Mortar Retail

Growing up, Laurie Alter’s older brother Mark Christy wanted to keep “her and her hamsters and her dolls” as far away as possible—he said he was “desperately trying to be cool,” and having a Ford Pinto as his ride didn’t help, either.

By Mediha DiMartino June 26, 2017 midnight share »

Aspen Medical Seeks to Grow International Markets

Nearly two decades since Aspen Medical Products was formed, the spinal-brace product maker in Irvine is ramping up sales efforts in international markets, primarily Europe and Asia.

By Sherry Hsieh June 26, 2017 midnight share »

Laguna Hills Office Goes to NY Buyer

Spectrum Tower, one of the largest office buildings in Laguna Hills, has been bought by an out-of-town investor—just the latest example of the city’s changing commercial real estate landscape.

By Mark Mueller June 26, 2017 midnight share »

First Foundation Buys Bank, Seeks More Deals

Irvine-based First Foundation Inc., its shares up 60% in the past year, is looking for more acquisitions after snapping up two banks and two branch offices in the past two years.

June 26, 2017 midnight share »

Turning Over a Familiar Leaf

Dan Leaf has moved Leaf Communications Consulting LLC to the fast lane in the early going, trying to replicate a track record that ultimately led to the sale of his first company.

By Chris Casacchia June 26, 2017 midnight share »

Home Builder, Parks Protector

Three generations of the Baldwin family have been part of one of the region’s largest homebuilding and real estate development businesses, with operations stretching from San Diego County to Ventura County over the years.

By Mark Mueller June 26, 2017 midnight share »

Good Things Come in Twos

Lisa Vigil and Lorraine Alderette finally did it.`

By Paul Hughes June 26, 2017 midnight share »

Pacific Edge Hotel in Laguna Beach Trades for $57M

One of the most prominent hotel properties in Laguna Beach has sold in one of two big real estate deals recently completed in the city for a combined $90 million.

By Mark Mueller June 26, 2017 midnight share »

Merrill Lynch CIO Tells Investors ‘It’s Not Too Late’

Orange County investors are worried about the same things as investors around the country—whether the stock market is too high, says Merrill Lynch Chief Investment Officer Mary Ann Bartels.

By Peter J. Brennan June 26, 2017 midnight share »

PHILANTHROPY

Bank of America, Charter/Spectrum, Albers Consulting, WealthWise Financial Services, Wells Fargo and other leading Orange County businesses joined forces to sponsor Orange County United Way’s 14th annual Women’s Philanthropy Fund Breakfast.

By Kim Haman June 26, 2017 midnight share »

ADDENDUM

The University of California-Irvine ranked No. 1 on the New York Times’ recent College Access Index.

By Hannah Mitchell June 26, 2017 midnight share »

Savills Studley Grabs Marquee Tower for Local Ops

Getting an affordable deal on office space at Newport Center’s newest and glitziest tower is unlikely, but if anyone was going to drive a bargain with Irvine Co. for space there, it would probably be a tenant representation brokerage.

By Mark Mueller June 26, 2017 midnight share »

Local Device Maker Ramps Up Vertical Integration

Applied Medical Resources Corp., which has 18 company-owned buildings in Orange County totaling about 1.5 million square feet, 14 of them in Rancho Santa Margarita, says it believes local device companies like it can make their products domestically while keeping costs under control.

By Sherry Hsieh June 26, 2017 midnight share »

Kawasaki Gets in Ring With Wrestler for Campaign

Kawasaki Motors Corp. U.S.A. in Foothill Ranch partnered with pro wrestler Steve Austin on a new advertising campaign to promote its Mule Pro-FXR off-road utility vehicle.

By Mediha DiMartino June 26, 2017 midnight share »

OCBJ Calendar

This week's business and other event listings.

By Dana Truong June 26, 2017 midnight share »

Savills Studley Grabs Marquee Tower for Local Ops

Getting an affordable deal on office space at Newport Center’s newest and glitziest tower is unlikely, but if anyone was going to drive a bargain with Irvine Co. for space there, it would probably be a tenant representation brokerage.

By Mark Mueller June 26, 2017 midnight share »

Ex-Iteris Exec Returns to Transportation Driver’s Seat

Abbas Mohaddes is back in the tech transportation business.

By Chris Casacchia June 26, 2017 midnight share »

Audio-Video Provider Gets $700K, Lands Big Client

A Newport Beach-based company that created an online platform for audio-video, IT and security projects closed a $700,000 seed round.

By Deirdre Newman June 26, 2017 midnight share »

Real Estate Deals

Metro West Properties Inc. sold a 50-unit multifamily building in Stanton to The Mannil Group for $12.5 million, or $249,000 per unit.

By Megan Cole June 26, 2017 midnight share »
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Ophthalmology Pioneer Steinert ‘The Very Best’

Friends, peers and industry executives say Dr. Roger Steinert was “a giant in the world of ophthalmology.”

By Sherry Hsieh June 23, 2017 10:57 a.m. share »
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Volcom Shifts PR Lens To Wider Audience In Fresh Growth Effort

Volcom LLC is giving you permission to ditch the daily grind and pursue your true passion, whatever that may be. Heck, it’ll even foot the bill for about a dozen winners of its #ThisFirst social media contest.

By Mediha DiMartino June 22, 2017 11:04 a.m. share »
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Kingston ‘Shoots for the Top’

Kingston Technology Inc. is working its way up the global leaderboard in a key product category that has vastly improved the performance of personal and corporate computers.

By Chris Casacchia June 21, 2017 10:33 a.m. share »