247 Irvine Units in Works; Costa Mesa Homes, Also
Intracorp Cos. is preparing to take the wraps off the first of several for-sale, infill housing projects near John Wayne Airport.
Big Shareholder Cries Foul, Cites Skills Dearth
Acacia Research Corp. has appointed two additional independent directors to its board, much to the consternation of one of its largest shareholders, which has pressed the Newport Beach-based company to replace its chairman and another board member.
To Offer Short-Term Lease Flexibility
There’s no turning back from shopping online. E-commerce totaled $453 billion last year, representing 13% of total retail sales and up 16% year-over-year, according to a U.S. Commerce Department report.
Sales and leases of offices, industrial buildings, retail space and apartments
Treichler Trust sold an office/warehouse building to Joyetech Inc. for $5.1 million, or $264 per square foot.
REAL ESTATE: Largest Q1 lease for Cerritos Ave. building
Walt Disney Co. recently signed a lease for an industrial building in Anaheim, the latest notable real estate move of Orange County’s largest employer and the biggest industrial lease in OC so far this year by square footage.
Congressman Ed Royce, (R-Fullerton), took a victory lap last week before an OC Forum lunch crowd in Irvine … 36 years in office, 10 Sacto, 26 D.C. “When I was 40, putting term limits on committee chairs seemed like a good idea,” Royce joked.
$5B Rollup Included Homegrown Telogis
The long-awaited integration of Verizon Communications Inc.’s telematics unit, which featured a key acquisition in Orange County, is complete.
HEALTHCARE: Launched IvyGene; to expand Irvine HQ
Irvine-based Laboratory for Advanced Medicine Inc. isn’t pursuing a magic-bullet immunotherapy drug to cure all cancers yet, but it sure is in growth mode.
REAL ESTATE: Market rate condos would start at 654 SF
FivePoint Communities Inc., the real estate firm overseeing development of the former El Toro Marine base in Irvine, has disclosed plans to build some of the city’s smallest and likely most affordable homes in years.
AUTOMOTIVE: Gets traffic from nearby dealers
Karma Automotive LLC’s landing in Newport Beach was a good one—so good it’s in the process of doubling its presence there.
RETAIL: Couple rolling out branded stores on both coasts
Jason Griffin and Gorjana Reidel spent 12 years charming major retailers such as Nordstrom Inc. and Bloomingdale’s with their delicate jewelry line when two years ago they took on a new challenge—real estate and branded stores.
Publicly Traded Cos. See 15.4% Boost to Market Cap
Orange County’s publicly traded companies probably popped a lot of champagne bottles during the past year.
2-Story Office Next To Site It Has for New HQ
The Orange County Sanitation District has completed the purchase of an office building in Fountain Valley that it intends to use for expanding operations.
Move Meant to Diversify Mix, Retain Talent
R.D. Olson Construction Inc. has made recent inroads in multiunit contract building and said it will maintain or slightly expand its work in that market as it continues a diversification drive of the past five years in a slowing hotel construction market.
Glass Walls, Bridges Make Appearances
Retractable ceilings that take the concept of high ceilings to limitless heights.
Stock Triples; Shows How to Bust Amazon
Boot Barn Inc.’s share price has a history of riding the price of oil like one of the bronco-riding cowboys at the annual rodeo it sponsors.
Partners With Apothecary For Full CVS Launch
Innovation Institute, founded five years ago as an incubator to commercialize internal medical innovation by doctors, nurses and other hospital care providers in its six health system-owners network, has done exactly that.
Hiring Plans Goose Index Amid New Concerns
In looking to the second quarter, Orange County executives kept up the optimism. That’s according to California State University-Fullerton’s Orange County Business Expectations Survey, whose composite index held near its all-time high, dipping slightly quarter-over-quarter from 95.2 to 94.4.
La Jolla Group Teams With Austrian Marketer
Irvine-based apparel maker La Jolla Group wants to get personal with customers.
Mass-Emails Specialist Triples Its OC Space
Denver-based SendGrid spent more than a year designing its new 22,000-square-foot office at 400 Spectrum Center in Irvine.
Hires Planned For Home-Care Frontier
Revenue from Irvine-based Masimo Corp.’s noninvasive patient monitoring technologies grew last year by 15% to $798.1 million, and Chief Executive Joe Kiani said the company plans to grow its new telehealth initiative.
“It’s How You Carry It,” The Company Advises
Tony Zentil spent 17 years managing Oakley’s accessories division—helping to grow the category from $15 million to $100 million.
To Provide Blockchain-Based Cybersecurity Solution
Take away the hype around digital cryptocurrency—some claim it’s bogus, given that the virtual coins aren’t backed by anything but the value people give them—and what’s left is blockchain technology.
FINANCE: Netlist was worst performer in TTM
Now the envelopes for the five best- and five worst-performing stocks during the year ended March 29:
Other items of interest Orange County Business Journal Vol. 41, No. 6
Kia Motors America Chief Operating Officer and Executive Vice President Michael Sprague announced he’ll leave his post, effective April 17.
Sales and leases of offices, industrial buildings, retail space and apartments
3020 Pullman St. LLC sold a Tesla service center to a private individual for $16.6 million, or $425 per square foot.
17% Gains in Past Year As Leasing, Sales Climb
Another active year in building, apartment and land sales, along with solid leasing activity across all product types, made for a strong year among Orange County’s largest commercial brokerages.
RETAIL: Don DiCostanzo powers Pedego on the 4 Ps
Tom Bock had just sold his company when he heard about Pedego electric bikes. “My friend had a bad experience with service, went to see Don, and he got him squared away.
NONPROFITS: Inspirational service for seekers takes new turns
Three kids, fresh out of Pepperdine University and with no set career goals, jumped into an old motor home and drove around the country, interviewing nearly 80 people, from Starbucks Chairman Howard Schultz to retired U.S. Supreme Court Justice Sandra Day O’Connor.
HEALTHCARE: Focuses on practitioners; plans clinic by year-end
Metagenics Inc. Chief Executive Brent Eck says he believes the future of healthcare is moving toward lifestyle medicine and that the company, which makes medical foods and nutraceuticals, can play a bigger role in shaping personalized nutrition.
Last Sold for About $40M; One of Wen’s Local Assets
The Foothill Ranch office complex that holds the headquarters of mortgage lender LoanDepot Inc. and other tenants is on the market about 16 months after it last sold.
Rsing tide of recovery hasn’t lifted all boats—2.9% growth and half of all industries undergoing disruption can reduce the boost.
Targets Mid-April to Receive First Patients
“Adults with mental health [disorders] don’t just [develop them] all of a sudden,” said Dr. Hoang “Wayne” Nguyen, medical director of Children’s Hospital of Orange County’s new mental health inpatient center, which is scheduled to open this week.
FINANCE: Silicon Valley vet brings analytics to banking
Tom Vertin lost out in the competition for the top job at Silicon Valley Bank in 2011.
New York Investors Don’t Buy New Business Strategy
One of Acacia Research Corp.’s largest shareholders is waging a proxy battle to oust the company’s chairman and another director up for re-election.
REAL ESTATE: To be centered on cancer facility
Five Point Holdings LLC in Aliso Viejo and Duarte-based City of Hope will build a $200 million “best-in-class” outpatient cancer treatment facility at Great Park Neighborhoods in Irvine to anchor an 18-acre medical center campus.
ECONOMY: Deep, well- funded study a call to action
It wasn’t “please pass the cyanide,” but the report was largely sobering.