OCBJ WEEKLY EDITION
Sales and leases of offices, industrial buildings, retail space and apartments
Filing Says Talks For New Campus ‘Near Conclusion’
Broadcom Corp. is closing in on its long-awaited deal to buy the land for its new office campus near Orange County Great Park, according to filings with Irvine City Council.
Properties, 12 Others Could Fetch $500 Million
Shopping centers in Mission Viejo and Brea are part of a portfolio of West Coast retail properties that are on the block and could sell for nearly $500 million.
Public Cos. Combine for 24% Hike to $83B in Sales
The latest batch of Orange County’s fastest-growing public companies kept pace with last year’s mix, combining for a 24% growth rate on revenue.
Why Fast-Growing Companies Matter to Local Economy
Fast growth matters. Having a deep pool of fast-growing public companies is a plus on many fronts for Orange County’s economy and community.
HEALTHCARE: Sticks with candidates in face of critique
Expect the fight over Irvine-based Allergan Inc. to turn toward the drugmaker’s board room.
REAL ESTATE: Deal for 8-story office largest so far this year
An eight-story building near Anaheim’s City Hall that previously served as the local operations hub for AT&T Inc. has been leased to a growing integrated-care medical group affiliated with Orange-based hospital operator St. Joseph Health System.
Big Revenue Gains Precede Big Pharma Deal
The company that topped the Business Journal’s 2014 list of the fastest-growing large public companies based in Orange County has already taken itself out of the running for next year’s title.
TRI Pointe’s Revenue Jumps 1,621%—Before Big Buy From Weyerhaeuser
If you think TRI Pointe Homes Inc.’s revenue growth over the past 24 months is eye-opening, just wait until next year.
Cryoport Gets Goods There Cold, Grows Revenue by Nearly 400%
Cryoport Inc.’s chilly business is fueling red-hot sales growth.
Sometimes the uninitiated are right even when they’re wrong about Orange County.
TECHNOLOGY: Seek new standard for next generation
The two largest chipmakers based in Orange County are working together to develop a new connectivity standard for next-generation digital subscriber lines, commonly referred to as DSL.
TECHNOLOGY: Software firm also inking deals to grow
Aliso Viejo-based Telogis Inc. has received an equity investment from GM Ventures, the venture capital arm of General Motors Inc.
APPAREL: Initial focus on wholesale from Irvine HQ
The Irvine-based arm of a major sports apparel and footwear brand in China launched a website last week, marking its first foray into the U.S. market.
RETAIL: Steady pace on new stores after recent acquisitions
Boot Barn Holdings Inc. plans to use the money it raised in last week’s initial public offering to pay down debt and continue a push to bring its Western gear to shoppers coast-to-coast.
EDUCATION: OC-based clusters aim for wider markets
Local private schools that are run on basic business principles have plans to expand in ventures that charge upward of $1,000 a month, with more customers born every day.
Geoffroy van Raemdonck will step down as chief executive of Irvine-based high-end knitwear maker St. John Knits International Inc., according to California Apparel News.
Newport Beach-based investment firm Kodiak Capital Group LLC agreed to buy $5 million worth of common stock of Cirque Energy Inc., a Detroit-based developer of alternative energy sources.
Tenet Healthcare Corp. named Audrey Gregory the new chief executive of Placentia-Linda Hospital.
Irvine-based Vizio Inc. signed on as the title sponsor of the 44th Annual Fiesta Bowl, which is scheduled to take place Dec. 31 at University of Phoenix Stadium in Glendale, Ariz.
Take It From Tommy Bahama: Follow-Up Matters
This tidbit about a restaurant doing it right, doing what hospitality is really all about, seems like such a good way to start the column.
Other items of interest Orange County Business Journal Vol. 37, No. 44
Irvine-based Kia Motors America Inc. will continue as the Official Automotive Partner of the National Basketball Association, and its K900 sedan will take on the role of the league’s official luxury vehicle.
Diversify Portfolios, Look For Location, Often in OC
Orange County’s coastal region, which stretches from the tip of Seal Beach at its northern edge to the end of San Clemente to the south, includes the most significant communities in the local luxury market.
Most of Software Maker’s Growth Through Mirth
Irvine-based healthcare software maker Quality Systems Inc. is showing “marked improvement across all fronts of the organization,” according to Chief Executive Steve Plochocki.
Aims to Distinguish Firm From Rivals in Industry
Toshiba America Medical Systems has launched an advertising campaign that aims to position the Irvine-based diagnostic imaging company as one that “adapts to and understands its customers’ business,” according to Nancy Gillen, its vice president of marketing.
This week's business and other event listings.
Increased job growth helped fuel a surge in tenant demand in the Greater Los Angeles office market in the third quarter with 705,097 square feet of positive net absorption, which pushed the vacancy rate down to 16.5% and the average asking lease rate up to $2.67 per square foot, a 6.5% year-over-year increase.
Lumen21 Had 803% Growth Rate in 5 Years
A fast-growing IT provider in Orange is gaining recognition targeting smaller companies in the healthcare, financial service and retail industries.
Premier Realty Management Inc. sold a two-story office building in Santa Ana to Big Brothers Big Sisters of Orange County.
Émigré Population Prominent Beyond Size in OC’s Community of Business
Orange County’s Indian-American community is nearly as diverse as its homeland, where myriad languages flourish in the crowded cities and secluded villages spread across the Asian subcontinent.
Financial Services Here Look for Roles on Both Ends of Deals
A number of financial services firms in Orange County are setting themselves up as conduits for deals in India, drawn by the country’s growing upper and middle classes, a raft of highly educated workers, and a number of industries that offer potential for cross-border links.
REAL ESTATE: City part of push for Marriott’s Euro-style boutique
AC Hotels by Marriott, a European-style boutique hotel brand, will include Irvine in the first wave of a development push in the U.S.
HOSPITALITY: Hotel in Gaslamp district of SD won’t carry resort name
Irvine-based Montage Hotels & Resorts is breaking new ground in more ways than one.
REAL ESTATE: Tenant-rep brokerages ‘share same DNA’
Orange County’s two largest commercial real estate brokerages that solely represent tenants in lease negotiations are combining forces.
Chance for Independence, Creativity Part of Appeal
Sunny winters aren’t the only draw for financial industry professionals to move to Orange County from Wall Street and other finance centers on the East Coast.
Reps Jump 3.4%, Overall Staff Down 5% at Top 23
Orange County’s financial advisory firms combined to deepen the pool of registered advisers here while reducing the size of their overall employment bases.
Oct. 27-November 5, 2014; Nov. 19
This week's business and other event listings.