Orange County Business Journal


This Fantasy All Business

Aliso Viejo-Based Startup Aims to Secure Standing in Fast-Growing Segment of Online Gaming

The 100-foot Mojo eases away from the dock to navigate Newport Harbor, passing waterfront mansions and celebrity getaways on its way to open waters.

Western Digital to Cut at Irvine HQ

TECHNOLOGY: 6% trim claims 115 jobs in ‘moderate restructuring’

Storage products maker Western Digital Corp. will shed 115 jobs from its Irvine headquarters as part of a “moderate restructuring” in response to sagging global PC sales.

Deal Ups Platinum Triangle Rental Value

REAL ESTATE: $269M for Katella sites would set mark for sales in area

Highlands Ranch, Colo.-based apartment developer and investor UDR Inc. has entered into a deal in which it could spend $269 million to take over ownership of two rental complexes under construction in the Platinum Triangle.

Abbott Medical’s Pipeline Set to Flow

HEALTHCARE: 7 new devices set to hit market over rest of year

Santa Ana-based Abbott Medical Optics has a pipeline ready to deliver a steady stream of new products that the eye specialist is counting on for a boost in the second half of the year.

Next Big Tourism Thing: Millennials’ Little Siblings?

‘Generation Z’ Emerges As Local Travel Market

Today’s teens are following hard on the heels of Millennials in terms of tourism.

Hotel Room Count Stable; Renovations Take Stage

Jobs Up 1.1% To 13,789 at Top 50

The number of rooms at the biggest hotels in Orange County hardly changed over the past year, but a significant portion of them got new looks, thanks to renovations at several of the market’s best-known establishments.

Office Campus Eyed at Jamboree & Dupont

Trammell Crow Could Build 550,000 SF on 7.5 Acres

Trammell Crow Co. is eyeing a vacant land site it just bought near John Wayne Airport for a major office campus.

Device Maker Weighs In on Change in IBC

‘Concessions’ to B. Braun as For-Sale Residential Returns

One of the first developments in the Irvine Business Complex to propose for-sale residential development in nearly a decade is proceeding after getting some pushback from a medical device maker whose local manufacturing operations are next to the project.

New Home Co. Nears $250M Land Buy

Deal in Works With Irvine Co. Includes 2 Sites in Crystal Cove

The New Home Co. is looking to double down on Orange County’s luxury home market with its latest batch of land deals.

What’s Next?

Hollywood Backer, NBA Ties Point to Potential of VR Startup

Laguna Beach-based NextVR Inc. is on a hiring spree and considering the development of a new engineering hub in Orange County amid recent progress toward deals to license its virtual reality content technology to professional sports leagues. Puts Out Welcome Mat for Hotel Trade

HOSPITALITY: New hires bolster recently formed hospitality division in Irvine has positioned itself to take advantage of the current boom in the hotel industry, with a focus on middle-market transactions in the $1 million to $15 million range.

Spec Office Developers Take Varied Approaches

Low-Rise, Creative Re-Use Planned Alongside Towers

Orange County developers are taking varied approaches to speculative office developments in the improving local economy, including a cautious approach on ground-up projects.

Office Market Gets Healthier in Q1

The Orange County office market, paced by the accelerating Greater Airport Area, is returning to prerecession peaks by all key measures.

Industrial Market Shows Strength

The Orange County industrial market got off to a good start this year after experiencing a sluggish year-end, posting positive net absorption of 690,726 square feet following a sluggish finish to 2014.

St. Clair High Note; No Quit in Nepal; Peltason Program

Remarks by Kylie Schuyler and Rubén Martinez gave the crowd at last week’s High Hopes fundraiser for El Sol Science & Arts Academy clear reminders of why each was chosen for honors.

Vans’ Ad Push Aims to Broaden Millennial Base

MARKETING: Campaign set for back-to-school, holidays

Vans Inc.’s upcoming marketing campaign aims to highlight its array of footwear and apparel in an effort to grow the brand beyond its skate roots and appeal to a wider youth segment.

Retail Developer Buys Into Maui Resort Market

REAL ESTATE: Burnham adds upscale center to OC holdings

Burnham USA Equities Inc. is the latest local developer to tap the tony Hawaiian resort community of Wailea for a major investment.

Device Maker Plans IPO, New Hires

HEALTHCARE: Glaukos aims for $86.3M, NYSE listing

Laguna Hills-based eye device startup Glaukos Corp. plans to use proceeds from a proposed initial offering to hire more workers, expand marketing programs, and fund further clinical studies.

Hedge Fund Execs Go Long on Own Brand of Energy Drink

MARKETING: Pelerin pair behind Positive Energy brand

Positive Energy Beverages LLC is betting that a continued rise in consumer demand for “better-for-you” food products will be better for the Irvine-based startup, too.

Employment Agencies Continue Growth With 2% Jump

21 Firms Have $720M In Locally Generated Revenue

The largest staffing firms in Orange County combined for a modest increase in revenue last year, coming off a small dip in 2013.

Mortgage Lender Doubles Local Office

Foothill Ranch-based mortgage lender loanDepot LLC doubled its Orange County office space to more than 238,000 square feet to accommodate its growing direct-lending center.

NYC Firm Takes 12.7% Stake in Habit

New York City-based asset management firm AllianceBernstein LP disclosed in an April 30 regulatory filing a 12.7% stake in Irvine-based Habit Restaurants Inc.

Southwest Adds JWA Flights, Routes

Southwest Airlines said it will start flying to Kansas City and St. Louis from John Wayne Airport on Nov. 22.

Printer Company Bought by Dallas Firm

Fontis Solutions in Irvine has been acquired by Dallas-based franchisor Safeguard Business Systems.

Private Companies Wanted for 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.


Goodwill of Orange County announced on May 5 the largest single program-specific donation in its 90-year history: a $1 million gift from philanthropists Thomas T. and Elizabeth C. Tierney to support veterans.


Other items of interest Orange County Business Journal Vol. 38, No. 20

Tesla Motors Inc. plans to open a showroom and service center in Buena Park this summer, its second in Orange County.

OCBJ Calendar

May 18-27, 2015

This week's business and other event listings.

Masimo Chief Cites Progress on 10-Year Plan

Monitors Gain, Rainbow Product Line ‘Promising’

Masimo Corp. Chief Executive Joe Kiani says he’s “encouraged by our progress to date” as his company moves into the last 1 ½ years of a 10-year plan it established when it went public in 2007.

Theme Parks Get Online Boosts from Newspaper

Disneyland, Knott’s Berry Sites Register Offshoots

Thinking of a trip to Disneyland or Knott’s Berry Farm this summer?

Meggitt Adds Hires in Irvine to Meet Growing Demand

Orders Up For Military, Aerospace Sensors

The Irvine operation of U.K.-based Meggitt Sensing Systems has been on a hiring push since consolidating its San Juan Capistrano and Londonderry, N.H., outfits less than two years ago.

Real Estate Deals

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

Tri Venture LLC sold an office building in Santa Ana to the Moritzky Family Trust for $1.3 million, or $159.86 per square foot.

Shea Properties, KBS Plan $76.7M Deal in Denver

First Office Built at Shea’s Village Center Station

Aliso Viejo-based commercial developer Shea Properties Inc. is under contract to sell part of a big office project in Colorado to another locally based investor, KBS Realty Advisors.

Crossover, Newcomers Highlight OC 50

Inventory of Influence Includes 15 of Wealthiest Here

Wealth doesn’t necessarily translate into power in Orange County, but the two do cross paths.

Moiso's Mission: Ride On

Family Found Way to Sell Ranch to Selves

It’s a cloudy day at Ranch Mission Viejo LLC’s headquarters on Reata Road, just off Ortega Highway.

Allergan Campus on Jobs Seesaw

HEALTHCARE: Actavis indicates new unit will offset chunk of layoffs

The makeover of Allergan Inc.’s operations in Irvine continues, with 1,100 jobs expected to be trimmed by next month.

North OC Price Check: Buena Park Shopping Center Seeks Buyer

RETAIL: 535,016 SF on block; Wal-Mart, Sears not part of deal

Coventry Real Estate Advisors in New York has put its portion of Buena Park Downtown on the market, seeking a deal that could reach $100 million.