OCBJ WEEKLY EDITION
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.
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.
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.
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.
‘Generation Z’ Emerges As Local Travel Market
Today’s teens are following hard on the heels of Millennials in terms of tourism.
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.
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.
‘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.
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.
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.
HOSPITALITY: New hires bolster recently formed hospitality division
Auction.com 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.
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.
The Orange County office market, paced by the accelerating Greater Airport Area, is returning to prerecession peaks by all key measures.
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.
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.
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.
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.
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.
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.
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.
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.
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 Airlines said it will start flying to Kansas City and St. Louis from John Wayne Airport on Nov. 22.
Fontis Solutions in Irvine has been acquired by Dallas-based franchisor Safeguard Business Systems.
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.
May 18-27, 2015
This week's business and other event listings.
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.
Disneyland, Knott’s Berry Sites Register Offshoots
Thinking of a trip to Disneyland or Knott’s Berry Farm this summer?
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.
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.
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.
Inventory of Influence Includes 15 of Wealthiest Here
Wealth doesn’t necessarily translate into power in Orange County, but the two do cross paths.
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.
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.
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.