Orange County Business Journal

OCBJ WEEKLY EDITION

LBA Realty Nears Another Office Purchase From Dell

Report of Nashville Deal Follows Buy in Aliso Viejo

Irvine-based LBA Realty is poised for a big investment in Nashville, Tenn., according to reports there.

Real Estate Deals

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

A living trust sold an industrial building in Anaheim to Los Angeles-based Rexford Industrial for $7.7 million, or about $119 per square foot.

OCBJ Calendar

April 6-15, 2025

This week's business and other event listings.

CryoPort Seeks Move to Nasdaq, Warrant Offering

Could Get $34.6 Million for Additional Stability

Lake Forest-based Cryoport Inc. is looking to raise money and shift its stock exchange listing.

NB Film Festival Secures High-End Sponsors

Will Include Fashion Show, Celebration of ‘Diviner’

The Newport Beach Film Festival, scheduled for April 23 to 30, has secured a roster of new high-end sponsors, including Orange County BMW dealerships and Remy Cointreau.

Retail Market Improves in Q4, More Growth Expected

Consumer confidence is pushing retail sales and encouraging retail expansion, resulting in increased Orange County occupancy rates.

Kofax CEO to Help Craft Integration Plan Before Exit

Bish: Will Stay About A Year ‘Out of Respect’

Expect business software maker Kofax Ltd. to maintain its big Irvine presence after its $1 billion sale to Lexmark International Inc. closes, but the clock appears to be ticking on the tenure of its chief executive.

SunCal Back in Development Game in SoCal Region

Buys Arts District Land in LA for Reported $130M

Master developer SunCal Cos. is starting to make big waves in its backyard again.

Real Estate Deals

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

Lucca Investment GP sold an office building in Irvine to Trinity Property Consultants for $8.3 million, or about $196 per square foot.

Pyott’s Play: Cash Out and Carry On; F&M’s New Starter

This week’s Special Issue on OC-based public companies marks a farewell appearance for perennial leader Allergan, which has held the top spot ever since the Business Journal switched its ranking criteria for our annual list from revenue to market cap some years ago.

Brief Stint on Nasdaq Helps Kofax Fetch Premium

TECHNOLOGY: $1B sale comes to 50% premium

Kofax Ltd.’s short stint as a U.S. public company ended with a bang.

Filings Cite Twists, Turns on Way to Pyott’s Payout

HEALTHCARE: Cashes stock for $534M after Allergan sale

David Pyott’s big payout from the sale of Allergan Inc. to Actavis PLC came with twists and turns for both companies and two other drugmakers involved in a deal of their own, according to filings made public last week.

Wet Seal to Emerge Smaller, Private

RETAIL: Will take new corporate name under Mador

Teen retailer Wet Seal Inc. is slated to emerge from Chapter 11 bankruptcy around April 15 as a privately held company with a new corporate moniker—Seal123 Inc.

Western Digital Helium Drives Break Newer Ground

TECHNOLOGY: Opens new big-data troves, more capacity

Western Digital Corp.’s breakthrough helium-based drives are getting strong demand from the world’s largest data center customers, ensuring the Irvine-based company a steady pipeline of business in coming years in the lucrative segment of high-capacity storage products.

$500M Deal for Del Taco Points to Familiar Path

RESTAURANTS: Blank-check buyer to take chain public

The $500 million acquisition of Lake Forest-based Del Taco Holdings Inc. by Levy Acquisition Corp. is set to turn the Mexican-themed fast-food chain into Orange County’s newest public company and pave the way for a growth plan that resembles the path taken by Costa Mesa-based El Pollo Loco Holdings Inc. in more ways than one.

Quiksilver Cuts Mooney, Likely to Keep His Strategy

APPAREL: Turnaround plan included trim of product lines

Quiksilver Inc.’s board of directors fired Chairman and Chief Executive Andy Mooney late last month, according to its filings with the Securities and Exchange Commission. 9

Airport Adds Second Mexico Servicer

The U.S. Department of Transportation approved Seattle-based Alaska Airlines flights between John Wayne Airport and Mexico that are set to start in October.

Printronix Replaces Retiring Chief

Industry veteran Werner Heid was named chief executive of Irvine-based Printronix Inc.

Musings on Departing Eateries, Good, Bad Memories

Charlie Palmer Latest In String of Closings in OC

It came as a shock to serious diners that Charlie Palmer is closing his eponymous restaurant at Bloomingdale’s South Coast Plaza at the beginning of May.

PHILANTHROPY

The Illumination Foundation hosted its annual Table for 10 culinary extravaganza on March 15 at Disney’s Grand Californian Hotel & Spa in Anaheim.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 14

California State University-Fullerton President Mildred Garcia was named to a national commission that will seek “practical solutions” to the increasing cost of a college education, the university said.

Public Companies Pass $200B on Allergan Effect

Drugmaker’s Sale Brings Much of Big Lift; Edwards, Broadcom Chip In; HCP Moves In

Orange County’s 100 biggest public companies combine for more than $207 billion in market capitalization, a gain of 62% from a year earlier.

Broadcom’s Small Lineup

Looks for Young Comers in ‘Internet of Things’ to Complement Roster of Global Brands

Broadcom Corp. is out to complement its position as the leading supplier of connectivity chips to the world’s largest consumer electronics brands with a customer base made up of hot startups and emerging companies in the Internet of Things market.

Irvine Company Eyes Another Spectrum Tower

REAL ESTATE: Plans indicate office on par with project now in works

The Irvine Company is considering doubling down on its high-rise office development plans in the Irvine Spectrum.

Bixby Envisions New Ride for Kawasaki HQ

REAL ESTATE: Plans biggest makeover yet after $44.3M buy

The purchase of Kawasaki Motors Corp. U.S.A.’s Irvine headquarters is the keystone in a redevelopment plan by Bixby Land Co. that could top $70 million when the costs for a makeover of the existing building and an adjacent parcel of land are considered.

CSUF Survey: OC Execs Remain Bullish for Q2

ECONOMY: Revenue, job growth seen; view on earnings stable

Local company executives continued a recent run of optimism about the economy and their own business prospects going into the second quarter, according to the latest index published by California State University-Fullerton’s Mihaylo College of Business and Economics.

Irvine Balks at County’s Plans Near Great Park

REAL ESTATE: High-density, mixed-use projects eyed for sites

Officials with the city of Irvine have expressed concern over massive commercial development plans proposed for a pair of county-owned land sites totaling about 144 acres next to Orange County Great Park.

Unbridled Ambition

Aliso Viejo-Based Telogis Measures Progress on Global Scale

A couple of key pivots initiated by Telogis Inc.’s cofounders in the early days of the company positioned the software maker for a big growth spurt years down the road.

Irvine Company Takes Balancing Act Beyond OC

REAL ESTATE: NYC buy highlights push for additions away from home

The Irvine Company has added two hometown office towers to its property management portfolio in the past year and has an even larger project moving ahead in the Irvine Spectrum, consolidating its role as Orange County’s dominant real estate owner.

The Source to Open Later, Leaner With Fast-Fashion Anchor

The first big retail development to open in Orange County since the recession will be late—and it won’t have the lineup of stores once expected.

Jack Peltason: Public Servant, Bridge to Private Sector

EDUCATION: Led UCI efforts to land top faculty, build Barclay

Twenty-five years ago, University of California-Irvine Chancellor Jack Peltason sat down with Irvine Company Chairman Donald Bren and decided to build University Research Park.

Long View on Leases; Josephine’s 99th; Julia’s 18th

Some late additions and longer-term considerations to go with this week’s Commercial Leasing Guide, a Special Report that starts on page 19.

Burnham-Ward Eyes Creative Redo on Westcliff

REAL ESTATE: Retail, eatery to join doctors

A prominent medical office building on one of the more eclectic streets in Newport Beach is about to get a big makeover.

ITExpo Makes Way To Anaheim From LV

TECHNOLOGY: October show could draw 7,000 attendees

A technology trade show previously scheduled for Las Vegas in August is planned instead to be at the Anaheim Convention Center in October.

Commercial Brokerages Post Fifth Year of Gains

Leasing Activity Picks Up, Sales Volumes Still Strong

A sharp increase in leasing activity, continued strength in the for-sale market, and the effects of industry consolidations propelled Orange County’s largest commercial brokerages to a banner year in 2014.

Local Backers Tee Up for Concert Golf’s 2nd Fund

SPORTS: Family offices back for more on value-add strategy

Concert Golf Partners in Newport Beach is on the verge of closing a $90 million fund in order to add to its portfolio of country club golf courses.

Mobilitie Man

Add Reinvention, Real Estate to His Resume

Gary Jabara has overseen two successful business startups, one major business reinvention, and a big commercial real estate buying spree—all in a little over 10 years.