Orange County Business Journal

OCBJ WEEKLY EDITION

Rich Uncles REIT Files for IPO

Real estate investment company Rich Uncles LLC is planning an initial public offering that could raise as much as $1 billion for its newly created Rich Uncles REIT Inc.

William Lyon Homes Names Co-CEO

William Lyon Homes promoted Matthew Zaist to the role of co-chief executive officer.

Auction Firm Gets Naismith Center Deal

Laguna Niguel-based SCP Auctions was named the official auction and appraisal partner of the Naismith Memorial Basketball Hall of Fame.

PHILANTHROPY

The Anaheim Ducks, SASCO Electric Inc., and the Honda Center were among the corporate sponsors of the 19th annual Stars & Stripes fishing, golfing and music tournament.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 30

Attorneys for former students of Santa Ana-based Corinthian Colleges Inc. are asking a court for permission to file a $2.5 billion claim against the bankrupt former operator of for-profit schools, the Wall Street Journal said.

OCBJ Calendar

July 27-Aug. 5, 2015

This week's business and other event listings.

Griffin-American Goes on 8-State Spending Spree in Q2

Puts Up $311 Million For 18 Senior, Medical Buys

Irvine-based real estate investment trust Griffin-American Healthcare REIT III Inc. recently said it spent $311.3 million on 18 properties in the three months ended June 30.

Volcom Denim Ads Invite Men to Live Unplugged Life

Features Skaters Doing ‘Real Life’ in Its Duds

Costa Mesa-based Volcom Inc. revamped its collection of men’s denim and is promoting the line’s launch with a marketing campaign.

NB Startup Runs Into ‘Hiccups’ With Kickstarter Try

Went Elsewhere After Backers Show Disapproval

A Newport Beach startup has drawn widespread publicity in tech circles for a Kickstarter campaign to bring the world’s smallest Bluetooth headset to market.

Real Estate Deals

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

Unitek Information Systems Inc. and Practical Dental Solutions LLC each signed a lease at 1401 Dove St. in Newport Beach.

Mid-Counties Industrial Market Tighter in Q2

High demand for real estate in the Mid-Counties industrial market continued through the second quarter.

Sares-Regis to Turn Ontario Land Into Mega Project

Seven-Building Site Lands QVC for 1M-SF Deal

Sares-Regis Group plans to turn one of the last big swaths of empty, developable land in Ontario into a major industrial project.

Boardwalk’s Big Leap

Trammell Crow Spec Office Project Set to Add 545,000 SF to Airport Area

Trammell Crow Co. has taken the wraps off the first large, speculative office project expected to break ground in the office market around John Wayne Airport in over seven years.

Craig’s Crescendo

No Skimp in San Clemente: 325,000 SF, 350 Archways for Marblehead Retail

Steven Craig will line up the bargains, but the look and feel of his Outlets at San Clemente Plaza will be anything but cheap.

Gateway Deal Reflects Central OC Rebound

REAL ESTATE: Lincoln Property expected to pay $68 million

Lincoln Property Co. is buying a large office next to Angel Stadium of Anaheim in the latest sign of an improving office market in Central Orange County.

CrowdStrike Seeks Scale In Wake of $100M Round

TECHNOLOGY: Google latest backer for security software maker

Irvine-based security software maker CrowdStrike Inc. aims to embark on an international expansion plan after securing one of the biggest venture capital rounds in Orange County history last week.

Hyundai Capital Sets Sights on Makeover on MacArthur

Firm Uniquely Emphasizes Office Design, Worker Space

Hyundai Capital America is often identified locally in connection with the large, transparent building next to the San Diego (405) Freeway in Irvine known as The Michelson.

Tenant-Improvement Contractors’ Work Gains Slow

Dollar Value Up 16.2% After 29%, 20% Increases

Orange County’s largest tenant-improvement contractors continued their growth trend last year but slowed in all aspects, including local revenue and number of employees.

On Overtime & Innovation; Mall & Anti-Mall

You can hardly get through any conversation about business these days without getting an earful on the importance of the Millennial generation in the workforce and the need to develop leaders.

OC Hotel Market Stays Hot With $126.2M Deal

REAL ESTATE: Local sales add up to $730M so far this year

The 485-room Irvine Marriott Hotel at the Irvine Towers office complex near John Wayne Airport has been sold to a Los Angeles-based institutional investor.

Burnham Adds Office Near JWA to Local Portfolio

REAL ESTATE: Data indicate relative bargain at $264 per SF

Newport Beach-based Burnham-Ward Properties has expanded its hometown office holdings with a property not too far from John Wayne Airport.

Blizzard Game to Toy Hall of Fame

The National Toy Hall of Fame has turned its attention to video games, including the title that made Irvine-based Blizzard Entertainment Inc. famous.

Anaheim College Likes Smaller Size, Local Focus

EDUCATION: Biomedical tech, robotics key to programs

Parviz Shams doesn’t plan to expand the Southern California Institute of Technology—at least not directly.

One Source Industries Plans San Pedro Plant

One Source Industries LLC, an Irvine-based provider of point-of-purchase displays, product packaging, and global promotional programs, plans to open a 25,000-square-foot production facility in San Pedro.

Western Digital to Get Wellness Center

St. Joseph Hoag Health will open a wellness center at the Irvine headquarters of storage products maker Western Digital Corp. this month.

Kaiser, Anaheim Rescue Join in Project

Kaiser Permanente is working with Anaheim Fire & Rescue and other businesses and government agencies on a pilot program to provide emergency medical services.

OCTA OK’s Light Rail for Santa Ana-GG Route

The Orange County Transportation Authority approved an agreement with the city of Santa Ana for a light-rail streetcar from the city to Garden Grove.

Private Companies Wanted for Business Journal’s Annual List

SPECIAL ISSUE: list will be centerpiece of June 22 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 38, No. 29

Hyundai Motor America Inc. in Fountain Valley launched a Hyundai Recognized Collision Repair Center program, which will be administered by the Laguna Hills-based Assured Performance Network.

Luxury Homebuyers Want More Than Just Location

Seek More Amenities, Not To Mention Precious Views

Discerning homebuyers today are looking for more than “location, location, location,” say real estate professionals in Orange County who specialize in the ultra-luxury market.

OCBJ Calendar

July 20-28, 2015

This week's business and other event listings.

Allergan Brass Talk Up Recent Deals, Road Ahead

Discuss Buys, Cite Benefits From Combos

Allergan PLC has been building up its Irvine-focused business lines through deals and is sharing its thoughts on the company with Wall Street.

Auction.com Seeks Chinese Buyers, Sellers With Deal

Partner to Link Native Speakers, Sale Prospects

Auction.com LLC in Irvine, an online real estate marketplace that matches buyers and sellers of commercial and residential properties, signed a co-marketing deal with AREAA Global “to expand real estate ownership opportunities for Chinese investors.”

Olloclip Shoots for $100K in Return to Kickstarter

Campaign Focused On Studio System Market Entry

Huntington Beach-based olloclip has launched a new campaign on Kickstarter that builds upon its recent entree into the crowded smartphone case segment.

Real Estate Deals

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

2100 Main LP sold the Landmark Building in Irvine to Property Investment Co. for $27.4 million, or $307.84 per square foot.

Greater LA Market Has Strong First Quarter

Greater Los Angeles office market conditions continued to improve across all major metrics in the second quarter.

Olen’s Rental Push Takes Flight in Phoenix Suburbs

Growth in Mesa, Gilbert Likened to Prior OC Era

Olen Properties’ recent push into Phoenix’ apartment market has now topped the $100 million mark, and the Newport Beach-based developer plans more deals in some of the city’s fastest-growing suburbs.