Orange County Business Journal

OCBJ WEEKLY EDITION

Irvine Ad Tech Firm to Combine With Kitara

Future Ads LLC, an Irvine-based advertising technology company, will combine with Jersey City, N.J.-based Kitara Media Corp., which focuses on video advertising. The transaction is expected to close by Dec. 31.

REIT Spends $59 Million on Properties

Irvine-based Sabra Healthcare REIT Inc. said it bought eight properties in three states for $59.1 million.

$1.3M to UCI for Lung Treatment Work

Four University of California-Irvine materials science and engineering researchers will receive $1.3 million from the National Science Foundation for work that could be used to develop lung disease treatments.

Yard House Chooses Interim Chief Exec

Darden Restaurants Inc., the parent company of Irvine-based Yard House USA Inc., named President and Chief Operating Officer Gene Lee Yard House’s interim chief executive.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 42

The Wet Seal Inc. said it will cut 78 filled and open positions, including 66 at its Foothill Ranch corporate office, a 24% decrease, and 12 at the store management level, a 20% drop.

Historic Laguna Home Once Hosted Hollywood Elite

Agent Says Fewer Modern Features Offset by Assets

The historic mansion perched high above a private cove in Laguna Beach at 2592 Coast Highway is reminiscent of an old-time movie setting with its dramatic location overlooking the ocean.

Edwards Lifesciences’ Pipeline Cited on Upgrade

Plus Good Clinical Trial News, Valve’s US Release

Irvine-based heart valve maker Edwards Lifesciences Corp.’s pipeline and positive second-quarter news recently landed it an upgrade from Chicago-based Zacks Investment Research to a “buy” ranking.

Oakley Takes to the Powder in New Feature Film

Major Snowboarders Tell Their Stories

Oakley Inc. followed some of the biggest names in snowboarding—Shaun White, Mark McMorris, Ståle Sandbech, Jake Blauvelt and Nicolas Müller—down the slopes in Finland, British Columbia, Norway and Japan to produce “Snowboarding: For Me.”

OCBJ Calendar

Oct. 20-28, 2014

This week's business and other event listings.

Low-Rise Market Has Strong Second Quarter

Activity in Orange County’s low-rise office sector continued its positive momentum in the second quarter, generating 166,503 square feet of positive net absorption. That brought the year-to-date net absorption total to 162,554 square feet.

Microinvestment App Debuts on Android Devices

Acorns’ Product Follows 60,000 iOS Downloads

Newport Beach startup Acorns, established by OC investment banking pioneer Walter Cruttenden and his son Jeff, has launched an Android app in its efforts to bring microinvesting to the masses.

New Medical Group Lands Next to CHOC, St. Joseph

24,000-SF Lease Near Top For Medical Offices in ’14

A new medical practice specializing in spine and sports medicine has signed a big lease in an Orange office next to St. Joseph Hospital and Children’s Hospital of Orange County.

Real Estate Deals

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

Terra Enterprises Inc. sold the Birch Corporate Center in Brea to SOC Resources Inc. for $10.1 million.

Virtual Reality Check

OC Emerges as Hub

One minute you’re on stage with Coldplay.

College Campuses Craft Commerce

EDUCATION: OC schools aim to breed viable commercial enterprises

Orange County colleges and universities are going beyond education to cultivation.

FivePoint Increases Stake in Great Park

REAL ESTATE: Buys out early investor as next phase of project nears

The developer of the Great Park Neighborhoods in Irvine is increasing its ownership stake in the massive project at the former El Toro Marine Corps air station, where a new batch of residential, commercial and park construction is about to begin.

OC Exec a Key to NBA’s Ambitions for India

SPORTS: Apparel entrepreneur now partner in Sacramento franchise

Raj Bhathal is a key player in the NBA’s bid to extend its brand to his native India.

Healthcare Behind Another Big Move in Mission Viejo

REAL ESTATE: 4-story office planned next to Mission Hospital

A four-story medical office development is being planned for a spot across the street from Mission Hospital in Mission Viejo in the latest big real estate deal involving property next to the St. Joseph Health-run facility.

MBA Programs Combine To Post 11% Decrease

Trend Comes With Economic Recovery

Enrollment in master of business administration programs serving Orange County fell 11% over the past year while the number of graduations was up at some schools.

Colleges Increasingly Engage Companies on Business

Research Meets Real Life In Industry Applications

The ivory tower is lowering the drawbridge as Orange County’s college campuses more directly connect their research and education efforts with business concerns.

Higher Ed Nonprofit Efforts Span County, Globe

EDUCATION: Research, Charity, Social Change Programs Up

Some of the smaller colleges and universities in Orange County are increasing nonprofit work, ranging from research and study—already within the scope of a school—to local charitable efforts and global social change.

Allergan’s Obvious Reply: Gross X 2; Gilyard’s A List

Would-be raiders Valeant Pharmaceuticals and Bill Ackman appear to be running out of room for their argument that Allergan CEO David Pyott and his fellow board members overlook shareholders as they fight the hostile bid for the Irvine-based drug maker.

OC Law Schools Up ABA Ante, Raise Bar on Skills

Further Integrate ‘Practice Ready’ Trend in Training

The “practice-ready” trend in law schools that began taking shape locally last year heated up this summer when the American Bar Association House of Delegates revised its Standard 303 to increase the number of credit hours.

Mitsubishi Motors Commits to Latino Ad Campaign

MARKETING: Grupo Gallegos tapped for return to ethnic niche

Cypress-based Mitsubishi Motors North America Inc. has tapped an advertising agency in Huntington Beach for a national campaign aimed at Latino-Americans, the automaker’s first bid to target the fast-growing ethnic niche since 2004.

Innocean’s Little-Picture Mentality Pays Off Big

ADVERTISING: Agency made for Hyundai lands NRG account

Innocean USA is diversifying its client portfolio by following a simple motto: “Think big but act small.”

Kilroy Sells Off Spectrum Office

REAL ESTATE: Swift on lookout for more deals in SoCal

Kilroy Realty Corp. has sold one of its few remaining office buildings in Orange County to a San Francisco-based real estate investor that’s looking to expand its holdings in Southern California.

MemorialCare, Anthem Create Reform-Age Network

HEALTHCARE: Joins insurer with 7 hospitals, health systems

Orange County’s hospital market is continuing its move toward networks and partnering in the age of healthcare reform.

Gross Pushes ‘Small, Flexible’ as Calling Card at Janus

FINANCE: First comments in public focus on new nimble

Bill Gross chose to field two questions out of nearly 200 in his first public comments as part of Janus Capital Group Inc.—and his answers to both emphasized his contention that “small and flexible” is good for an investment management firm.

MemorialCare Acquires Imaging Centers

Fountain Valley-based MemorialCare Health System said its MemorialCare Medical Foundation is now the sole owner of eight imaging centers in Orange County and Long Beach (see related story on page 4).

Freedom Relists Land Around HQ

The owners of the Orange County Register have relisted for sale 14.3 acres of land that surrounds the company’s headquarters in Santa Ana.

Western Digital Loses Trade Secrets Case

Irvine-based storage products maker Western Digital Corp. was ordered to pay its chief rival $758 million related to a bevy of trade-secrets claims.

Software Company Raises $60 Million

Irvine-based Alteryx Inc., a fast-growing data analytics software company, raised $60 million in a venture round.

PHILANTHROPY

The fourth annual Getzlaf Golf Shootout raised more than $345,000 to benefit CureDuchenne, a nonprofit group that raises awareness and funds research to find a cure for Duchenne muscular dystrophy.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 37, No. 41

A new federal database shows Irvine-based Allergan Inc. paid doctors and hospitals $24.2 million in the last five months of last year for consulting and speaking fees, meals and travel costs, and grants, the Orange County Register reported (see related item, Insider column, page 3).

Kaiser Permanente and Human Options: Together We’re Part of the Solution to End Domestic Violence

Did you know that one in four women and one in fourteen men will experience physical domestic violence in their lifetime according to the Institute of Medicine?

Anido Stays Busy in NB for New Jersey Drug Company

Eye-Device Exec Leads Aerie Financing Move

Longtime Orange County eye device executive Vicente Anido Jr.’s marching on with a new company.

Kia Motors Puts Sedona in Sexy Light With New Ads

Campaign Aims Vehicle At Older Millennial Parents

"It’s not a minivan. It’s a Sedona.”