OCBJ WEEKLY EDITION
MEDIA: Artful documentary up for honors at annual festival
Add bonafide filmmaker to Vizio Inc.’s credits.
HEALTHCARE: Consumer twist on medical device; ESPN spot
Irvine-based medical device maker Masimo Corp. will look to win a place in the world of big-time athletics as part of a marketing effort anchored by its sponsorship of the BNP Paribas Open tennis tournament in Indian Wells, which runs through this week.
Money Shifts From Industrial, Multifamily
Deep-pocketed office investors flocked to Orange County last year looking for attractive investment yields while also betting on the market’s potential for rental growth over the next few years.
New Home, Commercial Pick Up Some of Slack
Business for Orange County’s largest title insurers plummeted last year as refinance activity significantly declined.
David Pyott was graceful as ever during the Leaders & Legends luncheon hosted by the Irvine Chamber just a few days before Allergan shareholders approved the company’s $70-billion-plus sale to Actavis.
HEALTHCARE: Still no word on job additions, cutbacks here
The “new” Allergan Inc. is set to move its medical dermatology business to Irvine as part of its specialty pharmaceutical base in the wake of Actavis PLC’s $70 billion-plus buy of the Botox maker.
REAL ESTATE: $100M+ Deals Already Top 2014’s
2015 has the makings of a blockbuster year for large real estate deals, based on the first few months of transactions in Orange County.
EDUCATION: Lag others but show progress over last year
The full-time graduate business programs at Chapman University in Orange returned to a national ranking this year, and University of California-Irvine said graduates of its graduate business program ranked in the same report found improved job prospects from the year earlier.
Blank-check company Levy Acquisition Corp. said it plans to buy Lake Forest-based Del Taco Holdings Inc. in a deal that values Del Taco at about $500 million.
Donald Bren’s Irvine Company owns 97% of the 58-story MetLife building in Manhattan, one of New York City’s best-known skyscrapers, according to a Bloomberg report.
University of California-Irvine named Howard Federoff its new vice chancellor for health affairs and dean of the School of Medicine, effective July 1.
Fox Head Inc. appointed Paul Harrington chief executive and director.
CALL FOR ENTRIES: Website set to take entries until March 20
Is your workplace great? We want to know.
Other items of interest Orange County Business Journal Vol. 38, No. 11
The Walt Disney Co. said it has no plans for a third theme park at the Disneyland Resort, dispelling long-running rumors, according to the Orange County Register.
Deals for Both Homes Above $11 Million
Two Orange County homes priced north of $11 million sold in February, one in Newport Beach and the other in Dana Point, with the latter fetching the full asking price.
March 16-25, 2015
This week's business and other event listings.
New CEO Says ‘Critical Changes’ Position it Well
Irvine-based Biolase Inc.’s chief executive said he expects what he refers to as the laser device maker’s “transformation” to continue this year.
Promote City, Event With Help of Beach-Scene Bus
Marketing folks from Newport Beach & Co. and the Newport Beach Film Festival got on a bus to bring some sunshine to wintry London last month.
The Central and North Orange County office markets have traditionally trailed the Greater Airport Area and South Orange County office markets in terms of vacancy, average asking lease rates, and absorption of space, and 2014 was no different.
Establishes 13% Market Share in Equipment Sales
Aliso Viejo-based networking equipment maker QLogic Corp. has made big strides in carving out a niche in the burgeoning 10-gigabit Ethernet connection market, a competitive segment that’s drawn big industry players into the ring as storage needs and speedy data transfer become increasingly important to consumers and businesses.
Sales and leases of offices, industrial buildings, retail space and apartments
Asset Management Consultants Inc. sold an office building in Anaheim to Marshall B. Ketchum University for $10.3 million, or about $127 per square foot.
Great Park Project Nears Irvine Co. on Lot Prices
Lot prices for the latest batch of homebuilding at Great Park Neighborhoods don’t appear to be cheap.
127 Acres Along 55 Freeway Could Fetch Up to $250M
A handful of real estate developers have teed up big-dollar bids to gauge members’ interest in selling the Santa Ana Country Club.
Deals Key as Alorica Tops $1B in Sales
Call center operator Alorica Inc. expects to double the size of its customer-service operations after its acquisition of several subsidiaries of Omaha-based West Corp. closed last week.
Executives of Irvine-based Mazda North American Operations will aim to keep their minds open as they gauge the brand’s first year as the official automotive sponsor of the South by Southwest Music Conference and Festival in Austin, Texas, also known as SXSW.
DGWB Advertising and Communications in Santa Ana wants more.
Value Doubled, Even Without $70B+ Sale of Drugmaker
Orange County-based companies were buyers and sellers in 303 corporate mergers and acquisitions in 2014, a year of robust local deal activity that involved slightly fewer deals and many more dollars.
Anyone else see former Federal Reserve boss Ben Bernanke around Pimco’s HQ in Newport Center last week?
HEALTHCARE: Device maker in Aliso Viejo has raised $77M
A well-funded eye device startup in Aliso Viejo is making regulatory progress in its quest to bring a new product to treat glaucoma to the U.S. market.
LAW: ‘Self-contained’ group spins off; NB office sheds 14
Local law firms have been hiring attorneys away from Irell & Manella LLP’s Orange County and Los Angeles offices in the wake of the recent move by John Hueston and Brian Hennigan to form their own firm.
TECHNOLOGY: Cloud service provider seeks global expansion
The new chief executive of Irvine-based cloud service provider Numecent comes with top-level sales experience at Broadcom Corp.
Cypress-based Real Mex Restaurants Inc. named Bryan Lockwood its chief executive, a news report said.
A San Jose-based unit of Western Digital Corp. acquired a maker of storage software for public and private cloud data centers.
Stance Inc. in San Clemente raised $50 million from private investors to expand into underwear and open its own stores, according to the Wall Street Journal.
Emerald Expositions LLC in San Juan Capistrano acquired several trade shows from New York-based Vendome Group LLC and Macfadden Communications Group LLC. Financial terms of the two transactions were not disclosed.
HEALTHCARE: ‘Integrated’ services to keep patients in OC
Hoag Memorial Hospital Presbyterian is boosting its heart care offerings with an eye toward keeping patients in Orange County.
The American Heart Association’s Orange County Go Red for Women Luncheon recently raised $435,000 to fund programs and research to fight cardiovascular diseases and stroke.