Orange County Business Journal

OCBJ WEEKLY EDITION

Insteon Gets ‘Smarter’ With Home Audio Partnership

Teams With Sonos Speaker Maker In Latest IoT Deal

Irvine-based home automation and control technology provider Insteon continues to beef up its integration with big-name product makers in a new partnership with Sonos Inc.

Real Estate Deals

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

Dexter Von Karman LLC sold an industrial building in Irvine to Slip Stick Investments LLC for about $1.5 million, or $205.40 per square foot.

Greater LA Market Ends 2015 Strong

The Los Angeles office market in the fourth quarter regained the momentum lost in the prior period on net absorption, getting back to high levels seen at midyear.

Irvine Ranch Retains Top Spot for Local Home Sales

Sales Up 17%; FivePoint Project Ranks No. 16 in US

The Irvine Ranch retained its ranking as the second best-selling master-planned community in the country last year, according to a new report by Irvine-based John Burns Real Estate Consulting.

Mazda Gives Spectrum Tower New Gear

Takes 5 Floors for HQ as Speculative Project Nears Completion

The Irvine Company has landed Orange County’s largest automaker to anchor its new office tower in the Irvine Spectrum.

Talent, Treasure Anchor UCI’s Cove

Research, Donors Combine to Power Startup Efforts

Don’t let chitchat on startups and “ecosystems” at the surfboard-themed tables fool you.

Bandai Vacates HQ, Cypress Office in Line for Sale

REAL ESTATE: Toy maker to L.A.; Japan-based investor to buy office

A real estate investor based in Japan is in line to buy the most distinctive office building in Cypress in the recently vacated headquarters of toy company Bandai America Inc.

CSUF Index Continues to Mix It Up in Q1

ECONOMY: OC execs register slight dip in sentiment to start 2016

Orange County executives are entering the first quarter of the new year with mixed expectations that combine for a slight dip in overall business outlook, according to the latest quarterly index by California State University-Fullerton’s Mihaylo College of Business and Economics.

Augie’s Other Job: OCMA’s Other Menu; IrvCo.’s Other Plan

How’s Augie Nieto these days?

$87.5M Surf City Rental Flip Points to More Heat

REAL ESTATE: Value of 277 units up nearly 30% since 2012

An estimated $87.5 million sale of an apartment complex in Huntington Beach is the latest indicator that the city’s multifamily market remains hot.

Performance Lab for Lights Opens in Brea

MANUFACTURING: New UL center joins safety facility there

The growth of the lighting manufacturing industry in Southern California prompted Underwriters Laboratories to open a facility in Brea to test various products for performance.

Mazda Dealer Shifts to ‘Open Point’ in San Juan Capistrano

AUTOS: Prior owner plans townhomes on Laguna Hills lot

Phillips Mazda has moved from its longtime home in Laguna Hills and followed its new owner down the freeway to San Juan Capistrano, where Miles Brandon has been selling Volkswagens for nearly two decades.

NextVR Touts New Moves in Vegas

Laguna Beach startup NextVR Inc. broadcast last week’s Chicago Bulls-Boston Celtics game in virtual reality at a private event at the Cosmopolitan of Las Vegas.

CoreLogic Makes Another Acquisition

Irvine-based CoreLogic Inc. paid Wells Fargo Bank N.A. $65 million for the 49.9% of RELS LLC it didn’t yet own.

Tech Firm Raises $45M for Expansion

Irvine-based smart technology provider Greenwave Systems Inc. raised $45 million in a Series C round led by the investment arm of the Singapore Economic Development Board and Singapore Technologies Telemedia.

Incipio Sells Minority Stake to PE Firm

Irvine-based Incipio Technologies Inc. agreed to sell a minority stake to New York-based private equity investor Goode Partners LLC on undisclosed terms.

Newman Takes on New Startups Beat

Veteran OC Journalist Joins Business Journal Staff

Orange County-based journalist and author Deirdre Newman has joined the Business Journal as a staff writer.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 2

California State University-Long Beach said Brian Jersky will be provost and senior vice president for academic affairs, effective June 1, replacing David Dowell, who is retiring.

Confidence, Stability to Shape 2016 Luxury Market

3 Local Experts Say Year Will Bring Healthy Norm

Orange County’s coastal cities, with their deep beaches and panoramic Pacific views, have long enticed luxury homebuyers.

OCBJ Calendar

Jan. 11-20; Jan. 21, 2016

This week's business and other event listings.

NVision’s LASIK Recruit to Aid Expansion Effort

Entrepreneurial Surgeon’s Worked On 2 Continents

NVision Eye Centers has hired Dr. Jeff Machat to help grow the eye care and cataract surgery chain.

Hyundai Super Bowl Ad to Highlight ‘Core Values’

Carmaker Plans 3 Other Spots for Elantra, Genesis

Hyundai Motor America Inc. in Fountain Valley said one of its four upcoming Super Bowl ads “will use compelling storytelling to highlight the core values of the brand and what Hyundai delivers to its consumers.”

Inland Empire Commercial Markets End Year on High Note

The Inland Empire Industrial market flourished last year as tenant demand and activity propelled it to highs not seen since the early 2000s.

2016 Holds Promise for Abundance of New Technology

Fresh Trends Include 5G, VR, ‘Containers,’ Big Data

'Tis the season for looking ahead to emerging innovations, and perhaps no other industry outside fashion presents more fodder than the fast-moving technology sector.

Real Estate Deals

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

CIM Group LP sold the Civic Center Professional Plaza office building in Santa Ana to an affiliate of Hollencrest Capital Management for $8.1 million, or about $217 per square foot.

Second Douglas Park Hotel for Nexus Moves Ahead

Long Beach Project Mix Of Hampton, Homewood

Santa Ana-based Nexus Cos. has gotten the go-ahead for a second hotel project in the Douglas Park development in Long Beach.

Masimo Considers $8M Spend, Thanks to Tax Stay

Research, Development, Distribution on the Table

Joe Kiani said Masimo Corp. has “about $8 million” to spend now that Congress and the president agreed at the end of last year on a bill that included a two-year moratorium on a 2.3% medical device tax.

Kawasaki Motorcycle Gets Props in Popular Science

Magazine Lauds ‘Ninja’ Supercharger as Innovator

The Kawasaki Ninja H2 motorcycle by Kawasaki Motors Corp. U.S.A. in Irvine landed on Popular Science magazine’s Best of What’s New 2015 list, which usually is a rundown of innovations, such as smartphone apps, electric race cars, aerospace developments, and advancements in wireless technology.

High-Rise Market Has Mixed Third Quarter

The high-rise market in Orange County ended the third quarter with steady demand, although it experienced negative net absorption of 132,380 square feet, the majority of which took place in the Greater Airport Area, where 76 high-rises are located.

Doti Did It

Continued Quarter-Century Growth Drive for Chapman; Laid Groundwork for August Succession

Chapman University President James Doti is our 2015 Business Person of the Year.

OC to Show Range of Emerging Tech at CES

TECHNOLOGY: Startups leverage convention to gain notice in industry

A startup backed by Tech Coast Angels, a clandestine chipmaker, and a spinoff from one of Orange County’s largest publicly traded companies will be among the locals to debut this week at CES, the world’s biggest technology trade show.

Buena Park-Based Grocer to East Coast

RETAIL: 99 Ranch picks up pair of New Jersey locations from A&P

Asian-themed grocery store chain 99 Ranch Market has landed in the Garden State for its East Coast expansion, according to documents filed with the U.S. Bankruptcy Court for the Southern District of New York.

MetroCenter in Line for Big Renovation

REAL ESTATE: Sale likely biggest office deal of 2015

The new owners of MetroCenter at South Coast are planning a major renovation project of the office complex, with an expectation of turning the Costa Mesa site into one of Orange County’s most unique office campuses.

Another Case of Select Company for Ueberroth

Thoughts turn to baseball when Peter Ueberroth’s name comes up—logical enough, since the fellow who now runs the Contrarian Group in Newport Center made a big mark as commissioner of the game. He ran the L.A. Olympics before MLB, of course, so he’s got ties to just about any sporting endeavor. Need more?

Invesco Buys Into Fluor Campus in Aliso Viejo

REAL ESTATE: No indicators engineering firm plans to vacate

Dallas-based institutional investor Invesco Real Estate has completed its second big office purchase in Aliso Viejo in the past year.

Medical Apparel Brand Grows in Laguna Hills

MARKETING: Counts on style, performance to claim niche

Think of Medelita LLC as a Patagonia Inc. for lab coats and scrubs—its products are pricier but come with better style and performance than the average stuff from a uniform supply shop.

$157M for Fullerton Ingredients Supplier

Stauber Performance Ingredients in Fullerton sold for $157 million to Hawkins Inc. in Roseville, Minn.