OCBJ WEEKLY EDITION

Tech Execs Turn Dynamic Duo in Anniversary Video

Tu, Sun Animations Star In Spot on YouTube

Fountain Valley-based Kingston Technology Inc. featured animated versions of co-founders John Tu and David Sun in a YouTube video celebrating its 30th anniversary.

Gardenwalk Goodfellas? Report Sheds Light on Deal

Near Miss for Anaheim Mall After 2014 Lease

The Anaheim Gardenwalk entertainment center near Disneyland Resort has faced its share of leasing challenges since its 2008 opening, a good portion of it sitting vacant or underutilized for a large portion of its history.

Healthcare Incentive Platform Launches Nationally

Carepoynt Addresses Gamut of Healthcare

A company that created a rewards program as an incentive for people to take care of their health launched nationally.

Appeals to Nostalgia, League Hype Top Blizzcon 2017

Free Wings for Members Of the Blizzard Family

It was a record year at Blizzcon 2017, though the annual convention lacked the momentous announcements from previous years.

CalAtlantic, Lennar Under One Roof

El Toro Land Rivals in 2005 Have Big OC Ops

Irvine will apparently become a central hub of operations for Lennar Corp. following its acquisition of locally based CalAtlantic Homes, but consolidation of the homebuilders’ Orange County offices and staff over the next year will likely result in area job cuts.

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Pacific Premier Skates to Lead

Hockey-Loving CEO Explains Strategy

Pacific Premier Bancorp Inc. in Irvine has long been an underdog.

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Prosthetics Maker Freedom Innovation Ups Game

HEALTHCARE: Merged with Ottobock, plans IPO in 2 years

When your private equity investor wants to cash out, it’s often with a sale. Irvine-based Freedom Innovations LLC said it couldn’t be happier with a strategic partner like German prosthetics maker Ottobock.

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$50M in Hotel Buys Hint at Past, Present

HOSPITALITY: Sales at Dyer & 55 Are Midscale Trend Marker

George Santayana said those who do not remember the past are condemned to repeat it, but sometimes that’s not so bad.

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Chargers on Long Drive Deep In New Territory

SPORTS: Hoag deal, civic deeds vs. poor optics

The business challenges facing the Los Angeles Chargers front office in Costa Mesa midway through the season haven’t changed much since owner Dean Spanos moved the franchise north in January.

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Q&A

When businesses began budgeting for 2017 a year ago, few foresaw the dramatic economic effect of Donald Trump’s election to the White House.

OC-Based Banks’ Growth in Assets Slows Down

14% Increase Doesn’t Compare to Prior Years

Orange County-based commercial banks boosted assets a normally admirable 14% to $36 billion in the 12 months ended June 30.

Credit Unions Boom Again With 10% Asset Growth

Increase Tops 10% For First Time in Decade

Orange County’s credit unions are back to growing assets by double-digit percentages.

Follow the Bankers

Q&A responses of OC bank bosses (p. 22) sounds a sanguine note.

Aluminum Firm Maintains Innocence, Fights Seizure

Irvine Warehouse Part of International Tariff Caper

The foreign owners of Irvine’s 2323 Main St. industrial building are fighting the federal government’s attempt to seize ownership of the airport-area property, citing in court filings “demonstrably false” allegations and violations of its due process.

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Cybersecurity Player Shifts to Silicon Valley

TECHNOLOGY: CrowdStrike follows talent, money to new HQ

One of Orange County’s hottest and highest valued private companies has moved its headquarters from Irvine to Silicon Valley.

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OCTANe Pivots to Later-Stage Cos.

Plans to Move Upmarket And Grow Reg’l Presence

OCTANe was created in 2002 to bring together resources, expertise and capital to help grow biomedical and information technology startups.

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Online Bank CalFirst to Voluntarily Delist From Nasdaq

FINANCE: Compliance costs cited for move to OTCQX

Troubled California First National Bancorp in Irvine is giving up on Wall Street’s main stage, citing regulatory costs.

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New Owners for Costa Mesa’s Triangle, $55M Sale

REAL ESTATE: Caps $150M in deals for Greenlaw Partners

The Triangle, the Costa Mesa entertainment center that’s home to some of the city’s busiest nightspots, restaurants and other venues, has been sold to a Los Angeles-based real estate investor who’s no stranger to the dating scene.

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Hoag Orthopedic Taps St. Joseph Hoag CFO to Lead

HEALTHCARE: Plans to partner to grow outpatient care

Irvine-based Hoag Orthopedic Institute, a unique for-profit joint venture comprised of two groups of orthopedic surgeons and a nonprofit hospital, is positioned for growth with a new chief executive at the helm.

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An Extra Course: Presenting the Best of Fifi’s Best

A Tasting of Retired Columnist’s Favorites

Executive dining columnist Fifi Chao announced her retirement in this column last month with a joyous romp through “the past 26 ½ years, the best dining years in Orange County’s history.”

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CalChoice Seeks to Remain Competitive on Price

Launch Rate Parity Plan From Kaiser Next Year

The current healthcare bill debate primarily impacts the individual market, but uncertainty remains for insurers and carriers.

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South Coast Plaza Book Unveiled on Ocean Tour

Segerstrom Family Exec Gives Reporters Sneak Peek

Elizabeth Segerstrom, co-managing partner at Costa Mesa-based C.J. Segerstrom & Sons, invited about 50 of her closest media contacts and friends on a two-hour sail Halloween night on Foggy, a boat designed by famed architect Frank Gehry.

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Silicon Valley Lease Gives Irvine Co. Notable Name

164,000 SF for Amazon, Takes Ericsson Space

Tasseography followers, take note: Amazon appears to be a fan of Irvine Co. office properties.

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Grandpad Gets a Lyft as It Moves to Scale

Tablet for Seniors Will Feature Ride-Share App

An Orange-based company that created a tablet for seniors is partnering with a ride-share service. GrandPad Inc. partnered with San Francisco-based Lyft so the latter can provide rides for seniors.

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Copyright-Protecting Software Firm to Public Crowdfund

Image Protect Follows Path of Two Others in OC

Another Orange County company plans to raise capital through a new crowdfunding mechanism.

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Has Orange County’s Luxe Market Reached Its Peak?

Experts Think Not As Sales, Appreciation Endure

According to some analysts, the U.S. luxury home market has reached its peak. Events ranging from global economic volatility to an overabundance of luxury offerings to the cooling of the tech boom have caused a marked slowdown in the sale of homes above the $2 million mark in some communities.

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Real Estate Deals

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

The Carol M. Watson Living Trust sold a warehouse building to Huy & Thuy Nguyen for $7.2 million, or $172 per square foot.

OCBJ Calendar

Nov. 6, 2017-Nov. 15, 2017

This week's business and other event listings.

Business Bites

Other items of interest Orange County Business Journal Vol. 40, No. 45

Irvine-based healthcare REIT HCP Inc. said it will cut the amount its Brookdale Senior Living unit contributes to earnings from 27% to about 16%. The Brentwood, Tenn.-based senior housing operator’s declining occupancy rate has dragged down HCP shares.

Real Estate Deals

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

Anderson Bouchier Properties sold a multitenant retail building to Yitae Sohn for $6.7 million, or $618 per square foot.

352 and Growing

Among our P1 stories, Mediha DiMartino found a nondescript Garden Grove co. sitting on new business that could triple sales—a story anytime, more so when the growing concern is part of a 352-year-old French manufacturer.

Incipio Moving HQ, Preps New LA Retail Site

TECHNOLOGY: Device accessory firm eyes ‘transaction’

Incipio Group is changing its skin.

Locals Taking Over Hotel Laguna, Face Lawsuit

REAL ESTATE: Details, plan of deal for iconic site unclear

The sale of the iconic Hotel Laguna to a group of prominent Orange County business executives and community leaders is being challenged in court by the Laguna Beach hotel’s operators, who claim they were illegally deprived of the opportunity to buy the 65-room property.

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OC-Based Banks Report Increasing Profits in Q3

FINANCE: Investors cheer turnarounds at three firms

Four of the five largest publicly traded banks based in Orange County reported last week that profits improved in the third quarter over the same period a year earlier.

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CSUF Expands Incubator Presence into Irvine

STARTUPS: ‘Deep gene pool’ cited as key motivator

When a London-based startup that developed an all-in-one tool for communication, collaboration and employee engagement was looking to move its North American headquarters from Toronto to Southern California, it chose a new incubator in Irvine.

Allergan in Tight Spot for Blockbuster Drug Restasis

Fights 2 Patent Battles; No Sub Blockbuster in Wings

A recent federal district court ruling—a federal judge invalidated exclusive protections for dry-eye drug Restasis—isn’t sitting well with Allergan PLC.

PHILANTHROPY

More than 200 business and community leaders attended the 13th annual Orange County Council, Boy Scouts of America Investment Real Estate Luncheon on Oct. 5 at the Westin South Coast Plaza. 1w