OCBJ WEEKLY EDITION
They See Value as Others Put Resources Elsewhere
With another CES in the books—that’s No. 6 for those following this column—let’s take a closer look at how some OC companies tried to cut through the clutter in Las Vegas at the world’s largest consumer electronics show:
Sales and leases of offices, industrial buildings, retail space and apartments
500 N. Main LLC sold an office building to CCP Holdings Group LLC for $4.9 million, or about $225 per square foot.
Class B Rents Rise As Cheaper Space Sought
Year-end brokerage statistics show Orange County’s office market is approaching and in some cases exceeding the rental rate highs reached at the top of the last real estate cycle.
Behind Lake Forest-Based Skate Brand’s Deal With French Rubber Giant
What do Pierre-André Senizergues and the Michelin Man have in common?
Tool Box Includes Beacon Technology, Data Analytics
Trade show producer Emerald Expositions LLC, a champion of face-to-face communication, appears to be thriving in the age of digital business models.
REAL ESTATE: Fountain Valley, SD sites sell, 2 more planned
The apartment portfolio of Newport Beach-based Irvine Company—the largest owner of rental properties in Orange County and in the state—is slightly smaller after the sale of two Southern California complexes, including one in Fountain Valley.
MARKETING: Irvine-based gear maker seeks locations around U.S.
Irvine-based 5.11 Tactical, an apparel and gear designer outfitting soldiers, firefighters and police officers, has a mission of its own—it plans to grow its 13-store retail lineup at a pace of one or two additions a month this year.
The expanding amount of data now available to companies to analyze and sometimes monetize is changing how many do business in big and small ways.
It will be tough to find a clearer example of acting locally and thinking globally than the Argyros family will provide this week.
REAL ESTATE: Irvine Ranch No. 1 in U.S.; 4 locals in top 20
Orange County is one of the most supply-constrained markets in the U.S. for new home development, but you wouldn’t know that based on the surge of sales at the region’s four largest sources of new homes last year.
REAL ESTATE: $400M+ value for law firm skyscraper deal
Olen Properties Corp. has signed its largest and most valuable lease ever while keeping its anchor tenant in place at a skyscraper the Newport Beach-based real estate company owns in Chicago.
HEALTHCARE: Looks to stick with aesthetics
Irvine-based lifestyle healthcare purveyor Alphaeon Corp. has hashed out a plan to narrow its focus on aesthetic medicine.
Privately held RAJ Swim in Tustin hired Brenda West as its new president, making her the first person outside of the swimwear maker’s founding family to hold the position.
Centennial Group Benefits in Costa Mesa merged with 23 other U.S. insurance brokers to form Alera Group, which is backed by San Francisco private equity firm Genstar Capital LLC.
The Los Angeles-based James Irvine Foundation awarded a second $1.2 million grant to the Orange County-based Pacific Symphony to support efforts to strengthen its commitment to Orange County’s Chinese-American communities through arts engagement.
University of California-Irvine named Ronald Cortez vice chancellor for administrative and business services, effective Feb. 13.
CALL FOR ENTRIES: Website set to take entries until March 17
Is your workplace great?
About 650 Pacific Investment Management Co. employee volunteers, friends and family members gathered on Dec. 3 at the OC Fair & Event Center in Costa Mesa to pack 12,000 holiday meals for families in Southern California.
Other items of interest Orange County Business Journal Vol. 40, No. 2
An affiliate of private investment firm Admiralty Partners Inc. acquired General Electric’s Santa Ana aerospace business unit and plans to maintain it at its present location under the name Integral Aerospace LLC, according to news reports.
TicketSocket Looks to Lure Couch Potatoes
A Newport Beach-based company that facilitates the issuance of events tickets has partnered with a cloud-based network to offer registration and tickets for online broadcasts of live events.
Jan. 9-18, 2017; Jan. 25, 2017
This week's business and other event listings.
To Serve Over 50 Sites For Immunotherapy Tests
Irvine-based Cryoport Inc. will provide transportation services to Gradalis Inc.’s second and third phase clinical trials in advanced stage ovarian cancer and to a second phase trial for Ewing’s sarcoma, a rare tumor associated with children and young adults.
Line Features Palette Of Chinese Zodiac Critter
Vans Inc. in Cypress marked the Year of the Rooster—which runs from Jan. 28 to Feb. 15, 2018 on the Chinese calendar—with a specially designed shoe collection developed in cooperation with Shanghai-based designer Kim Kiroic.
Company Reps Pegged Year-End Sale Wrap
Vizio Inc.’s pending $2 billion sale to Chinese conglomerate LeEco failed to close by year-end, indicating a potential wrinkle in a deal that still needs final approval from Chinese regulators.
Sales and leases of offices, industrial buildings, retail space and apartments
D & V Capital Investments LLC sold four R&D condominiums in Irvine to Winchester Equity Group LLC for $3.9 million, or about $252 per square foot.
$47.5M for 2 Deals; Now Has 9,100 Units There
Irvine-based apartment investor and operator Bascom Group has added two rental properties in Las Vegas to its already sizeable portfolio there.
REAL ESTATE: $10.2 million for city-owned land along I-5
The developer of the Anaheim Concourse industrial campus has closed on the purchase of another, smaller development site near the Platinum Triangle.
Allergan plc paid $2.9 billion to buy New Jersey-based LifeCell Corp., which develops aesthetic and regenerative medicine used in plastic surgery, in a deal expected to close in the first quarter.
Saw Great Recession Coming, Came Through It Swimmingly
John DeCero didn’t take an easy path to this week’s honor as the Business Journal’s finance Person of the Year.
Morris Programmed Telogis for Deal That Fetched Close to $900M From Verizon
Look to Aliso Viejo to find a key component of a new digital strategy crafted by the nation’s largest telecom as it integrates several recent buys into a new business unit.
$300M Reshapes Shoreline Hospitality in Huntington Beach
Investment in hotel development in Huntington Beach hit at least $300 million last year—and there’s more in store this year.
AUTOMOTIVE: CEO switch, SUV surge, driverless car on radar
Hyundai Motor America Inc. needs a “diverse product lineup in its SUV segment” if it plans to increase its 4.6% share of a U.S. automarket that looks poised to plateau, industry insiders say.
REAL ESTATE: Gets 3 buildings, 161,000 SF in Aliso Viejo for $36M
A local investor has acquired the QLogic Corp. campus in Aliso Viejo and is planning to rebrand the site in preparation of the networking products maker vacating the three-building property this year.
ECONOMY: Outlook up big on sales, profits, jobs to start year
Orange County business owners and executives enter this year with a level of optimism at a 15-year high, according to the California State University-Fullerton’s Orange County Business Expectations Survey.
Just a few additions to this week’s front-page coverage of our Business People of the Year—notes on some recent moves that also merit mention as our community of business gets set to take on whatever 2017 has to offer …
REAL ESTATE: Plans filed for trilogy site it bought a year ago
San Diego-based Garden Communities of California has disclosed plans for its third big apartment development in Irvine, an 876-unit complex next to John Wayne Airport.
The pending $25 billion merger of medical device maker St. Jude Medical Inc. in St. Paul, Minn., and Abbott Laboratories in Lake Bluff, Ill., could affect the companies’ Orange County operations.