Orange County Business Journal

OCBJ WEEKLY EDITION

Real Estate Deals

Gordon Wayne Miller Trust sold an industrial building in Costa Mesa to Peter Cordes for $3.6 million, or $360 per square foot.

June 5, 2017 midnight share »

UCI’s Cove Lands New Innovation Center

A Costa Mesa-based nonprofit workforce development and entrepreneur accelerator opened an innovation center at The Cove in Irvine, the physical space of the University of California-Irvine’s Applied Innovation institute.

By Deirdre Newman June 5, 2017 midnight share »
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JWA Landmark: 2-Tower Project Eyed for MacArthur

A local commercial real estate investor and developer has unveiled plans for a two-tower commercial development across the street from John Wayne Airport in Irvine.

By Mark Mueller June 2, 2017 10:09 a.m. share »
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NB Activist Firm Battles Rent-A-Center

Engaged Capital will learn on June 8 if its Texas-size brawl against publicly traded Rent-A-Center Inc. is successful.

By Peter J. Brennan June 1, 2017 8:44 a.m. share »
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Firm Plans First Crowdfunded NASDAQ IPO

A Newport Beach manufacturer is poised to become the first equity crowdfunded company to list on the NASDAQ.

May 31, 2017 10:48 a.m. share »

Cities Tune In to Music to Amp Up Visitor Counts

Music festivals are becoming a way for Orange County cities to draw crowds in short bursts at events throughout the year.

By Paul Hughes May 30, 2017 10:35 a.m. share »
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City Clubs' Future Sparkles

Are member-only dining clubs vulnerable to technology advances that in the past decade have rendered paper maps, pay phones and film cameras obsolete and conditioned us to communicate on social media more often than in person?

By Mediha DiMartino May 30, 2017 10:33 a.m. share »

Netlist Bets ‘Huge Investment’ in Patent Case

Netlist Inc., an Irvine-based storage equipment maker, has concluded its patent infringement argument against chip giant SK Hynix Inc. before the U.S. International Trade Commission in Washington D.C.

By Chris Casacchia May 30, 2017 midnight share »

Irvine Incubator Aimed at Variety of Entrepreneurs

Another incubator has sprouted in Orange County, this one in Irvine at the WeWork co-working space at the 200 Spectrum Center office tower.

By Deirdre Newman May 30, 2017 midnight share »

St. Joseph Office Tower in Anaheim Sells for $58.9M

One of the largest offices in downtown Anaheim has sold at a big markup to its prior valuation, the latest sign of revitalization for the area around Anaheim’s city hall.

By Mark Mueller May 29, 2017 9:33 a.m. share »

Q&A

Local destination marketers say that as food adventures have taken more precedence in people’s lives—anchoring malls, driving a growing list of food halls, and ever more popular on TV cooking shows and food networks—their impact on tourism and travel has also increased.

By Paul Hughes May 29, 2017 midnight share »

Drones Give Tourism Promoters New Perspective

Sometimes a city looks its best from the air. Orange County tourism marketers say drones tap true avian-level elevations to produce compelling footage for video uses, from social media and city promotions to cable TV travel shows and news broadcasts.

By Paul Hughes May 29, 2017 midnight share »

Area Hospitality Steady in Rooms, Trends, Money

Waterfront Beach Resort, A Hilton Hotel shuttered six of its 290 rooms last year, but it had a very good reason—the move helped make way for about 150 more in a new tower that’s scheduled to open in September.

By Paul Hughes May 29, 2017 midnight share »

Ups to Irvine; OC Forum Update

Fred Chaney suggested that the crowd at the Irvine Barclay Theatre for the May 20 celebration of Chuck Martin’s life might have been “the greatest collection of brains and entrepreneurial doers this state has seen in some time”—a point worthy of consideration.

By Jerry Sullivan May 29, 2017 midnight share »

Florida Hotel Investor Makes 2nd Buy in Orange

A Florida-based hotel investor whose chief executive was one of President Donald Trump’s biggest financial backers during the election cycle has made its second big purchase in the city of Orange.

By Mark Mueller May 29, 2017 midnight share »

Alphaeon Rebrands Self as Neurotoxin Company

For the majority of last year, Alphaeon Corp. was the initial public offering that never happened.

By Sherry Hsieh May 29, 2017 midnight share »

OC, JWA Save For Cap’s Rainy Days

If Orange County supervisors and John Wayne Airport were grandparents, they’d be clipping coupons and converting rolls of pennies at the bank.

By Paul Hughes May 29, 2017 midnight share »

Law Firm Gives $500K to Goodwill OC

Costa Mesa-based law firm Greenberg Gross LLP donated $500,000 to Santa Ana-based Goodwill of Orange County to be used to boost Goodwill’s career counseling services, which will be housed in the newly named Greenberg Gross Career Center.

May 29, 2017 midnight share »

Foods Maker Promotes Exec to COO

Ventura Foods LLC promoted John Buckles to chief operating officer, a new position at the Brea-based maker of branded butter, margarine, mayonnaise, dressings and dips.

May 29, 2017 midnight share »

Lotus Sells Irvine Analytics Company

Private equity fund Lotus Innovations LLC in Irvine said it sold gen-E, an analy-tics company with 29 employees, to an undisclosed buyer.

May 29, 2017 midnight share »

Retailer to Shutter Irvine Operations

Australian online retailer SurfStitch Group Ltd. said it will close its Irvine-based North American operations this year and shift its SWELL e-commerce business there to Australia.

May 29, 2017 midnight share »

PHILANTHROPY

The 2017 Men of Character Dinner was held on April 20 at the Irvine Marriott by the Boy Scouts of America, Orange County Council.

By Kim Haman May 29, 2017 midnight share »

ADDENDUM

An OC Superior Court jury awarded the former Superior Automotive Group $256.5 million in damages in its fraud case against Nissan Motor Acceptance Corp., the financing arm of Nissan Motor Ltd.

By Hannah Mitchell May 29, 2017 midnight share »

HCP Wants Ohio REIT’s Ex-Chief Investment Boss

HCP Inc. in four days will lose President and Chief Investment Officer Justin Hutchens, who leaves the Irvine-based healthcare facility real estate investment trust June 1 to become chief executive at U.K.-based homecare operator HC-One Ltd. in a move HCP announced April 3.

By Sherry Hsieh May 29, 2017 midnight share »

Experian Ad Presents Company as Data Protector

Experian PLC’s latest TV spot juxtaposes footage of the Miller family building a blanket fort in their living room with the sound of an auctioneer offering up their personal data to the highest bidder online.

By Mediha DiMartino May 29, 2017 midnight share »

OCBJ Calendar

This week's business and other event listings.

By Dana Truong May 29, 2017 midnight share »

Shopoff’s May in LA: Mobile Homes, Golf, Land

Irvine-based Shopoff Realty Investments has completed two purchases and a sale in Los Angeles County over the past month valued at more than $100 million.

By Mark Mueller May 29, 2017 midnight share »

Real Estate Deals

Alton Street LLC sold a single-tenant industrial building in Santa Ana to NJTL LLC for $2.9 million, or $183 per square foot.

May 29, 2017 midnight share »
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Spectrum Security: Cylance to New Tower

Security software maker Cylance Inc. plans to consolidate its local operations at the soon-to-open 400 Spectrum Center office tower in the Irvine Spectrum.

By Mark Mueller May 26, 2017 9:47 a.m. share »
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Edwards Lifesciences Expands HQ With Buy

Edwards Lifesciences Corp. has bought a midsized building next to its headquarters that’s under expansion in Irvine.

By Mark Mueller, Sherry Hsieh May 25, 2017 7:33 a.m. share »
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Toshiba Parent Fallout Claims New OC Victim

Financially troubled Toshiba Corp. will shutter its U.S. commercial phone service division based in Irvine in the second local business closure enacted by the Tokyo conglomerate in a year.

By Chris Casacchia May 24, 2017 9:22 a.m. share »
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Virtual Marina

Oculus VR co-founder Palmer Luckey has bought a marina in Huntington Beach.

By Mark Mueller May 23, 2017 9:41 a.m. share »
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A Case for Excellence

What a difference a decade makes. When Erwin Chemerinsky joined the University of California-Irvine as founding dean of its law school, it was under a maelstrom of controversy. Some political conservatives protested based on his reputation as a “liberal” scholar, and a backlash ensued. He will leave the law school at the end of June to become dean of the University of California-Berkeley’s School of Law, surrounded by an aura of adulation, with statistics buttressing the law school’s out-of-the-gate laurels, which many lawyers have called “unprecedented.” He’s also one of the country’s most recognized and sought-after authorities on constitutional law and has argued several cases before the U.S. Supreme Court.

By Deirdre Newman May 22, 2017 10:59 a.m. share »

Mother, Daughter Immersed in 40-Year Labor of Love

Felicia Madrigal sees Laguna Beach-based Merrilee’s Swimwear returning to shelves at popular retail chains, including PacSun and Nordstrom.

By Mediha DiMartino May 22, 2017 midnight share »

Allegro Team Believes Third Time’s the Charm

Father and son Hampar and Vicken Karageozian plan to take their company to the exit sans venture capital. San Juan Capistrano-based Allegro Ophthalmics LLC, which develops drugs for vitreoretinal diseases—those that affect the back part of the eye, such as diabetic retinopathy and macular degeneration—is the third company that Hampar Karageozian have co-founded. Previous endeavors include eye drugmakers Vitreoretinal Technologies Inc. in Irvine and ISTA Pharmaceuticals Inc., founded in 1999 and 2000, respectively.

By Sherry Hsieh May 22, 2017 midnight share »

Glass Company Breaks With Traditions to Thrive

Greg Wingert took the time to hear out the Mater Dei High School guidance counselor’s push for college, but the senior’s mind was already set on joining the family business.

By Mediha DiMartino May 22, 2017 midnight share »

Walker Bunts, Scully Scores

Credit Vin Scully for a crowd that was big enough to fill the biggest hotel ballroom around these parts for the Orange Catholic Foundation’s 15th Annual Conference on Business & Ethics, giving even the Hilton Anaheim a challenge on parking at the breakfast hour.

By Jerry Sullivan May 22, 2017 midnight share »