OCBJ WEEKLY EDITION
Gym Battle Provides Face Time With Game’s Fans
Fountain Valley-based Kingston Technology Inc. is the latest OC tech company trying to capitalize on the Pokémon Go craze sweeping the globe.
Sales and leases of offices, industrial buildings, retail space and apartments
Kelemen Caamaño Investments sold a building in Irvine to Bomel Construction for about $15.1 million, or about $363 per square foot.
Demand for real estate in the Mid-Counties industrial market has become a challenge to quantify with its historically low levels of inventory.
350-Room Project On Katella to Run 12 Stories
A limited-service hotel planned for the Anaheim site near the Disneyland Resort that once held The Boogie nightclub appears to be getting much taller than initially envisioned.
The Lincoln Club of Orange County said a mouthful—and not a word about Donald Trump—in a recent call for support for Marco Rubio, who came up short in his bid for the GOP presidential nomination and now seeks a second term representing Florida in the U.S. Senate.
APPAREL: Manhattan Beachwear at $700M, pricing change aims for more
Manhattan Beachwear Inc.’s annual sales have grown tenfold to nearly $700 million since Linsalata Capital Partners became its majority owner six years ago. Now the Cypress-based swimwear designer and manufacturer with a roster of 55 brands is about to get bigger.
REAL ESTATE: Park Tower office trades for close to $26M
Milan Capital Management, an Anaheim-based commercial real estate investor, has bought an office tower in Long Beach and sold an office in its hometown in two deals topping $50 million together.
EnCore’s New Airliner Seat Certification Unit Ready To Leverage Boeing Contract to Gain Market Share
An acceleration sled propelled by two compressed air tanks has just concluded one of its first thrusts down a 120-foot runway in a renovated wing at the Huntington Beach headquarters of EnCore Aerospace LLC.
HEALTHCARE: 2 biggest shareholders boost stakes
Biolase Inc. in Irvine sold $10 million in preferred stock and warrants to its two largest shareholders and others to continue to fund a turnaround effort the company said has had some early success.
REAL ESTATE: New complex moves for estimated $131 million
A newly built apartment complex in Huntington Beach has a new owner in a deal that appears to set a high-water mark for pricing in Orange County’s hot multifamily market.
Mission Inn Hotel & Spa in Riverside was named to a 2016 top 10 list by readers of USA Today.
RESTAURANTS: Taps eating trends, new areas in OC
Grewal Foods OC LLC in Irvine plans to relocate 15 to 20 of its 250 Orange County Subway restaurants over the next two to three years, said President Bob Grewal.
One deal signed, talks under way on additional augmented reality work
Augmented reality has always been in the shadows of its more famous parent, virtual reality. That all changed in a big way in July when Pokémon Go took the world by storm. OC startups with an AR focus have since seen a surge of interest from clients and investors.
MARKETING: Race star in ad showing Nationwide’s other side
NASCAR driver Dale Earnhardt Jr. is starring in a new TV commercial for a Brea-based pet insurance company, compliments of the firm’s parent, Nationwide Insurance Co. in Columbus, Ohio.
Laguna Beach-based virtual reality content maker NextVR Inc. said it completed an $80 million round of funding led by Asian technology companies.
Aliso Viejo-based chipmaker Microsemi Corp. took naming rights of the Los Angeles Rams practice facility at the University of California-Irvine.
Marwit Capital in Newport Beach sold on undisclosed terms its Driftwood Dairy Inc. to Vietnam Dairy Products Corp.
Up 42% From Bottom, More Increases Anticipated
It’s taken eight long years, but Orange County’s office market is now back to prerecession levels by one key metric: asking rents.
ReShape Medical Inc. in San Clemente named Mike Mangano president and chief executive.
Led By T-Mobile, Which Added 175 Employees
The continued growth of T-Mobile USA Inc. and Mobilitie LLC’s local operations boosted the employment of the largest telecommunications companies in Orange County over the year ended July 31.
The Orange County office market is currently characterized as a landlord market due to the low availability rate. Strong employment growth in the county continued to be the primary driver of improving fundamentals.
The Orange County industrial market showed no signs of decelerating at the midpoint of the year, despite the lack of available product that has become a common theme for the region over the past several years.
The slightly lackluster changes over the past few quarters were no surprise despite Orange County’s attributes, due in part to the lack of new development. The construction pipeline contains an excess of retail and countless willing tenants, though few have made their way into development, leaving very little new space for tenants to vie for. Limited space for new developments opposite the uncertainty of big-box anchor longevity has given developers pause, creating a focus on smaller, safer projects.
34 Incorporated Areas Still Topped By Anaheim
Orange County’s population expanded by about 29,000 people last year, or a hair under 1%, ending 2015 at slightly above 3 million.
Other items of interest Orange County Business Journal Vol. 39, No. 33
Karma Automotive LLC in Costa Mesa said its distribution strategy for the new Revero car will include 10 independent dealers in the U.S. and Canada and a company-owned “brand-experience center” in Orange County.
Say High-End Clientele Seek ‘Bespoke Experience’
It’s little wonder that coastal Orange County may seem like the setting for a novel, with its expansive ocean vistas, low rolling hills and wide blue skies.
Aug. 15-24, 2016; Sept. 22, 2016
This week's business and other event listings.
Gets European Approval For Sensor for Pediatrics
Masimo Corp. in Irvine got CE marking for its O3 regional oximetry sensor in some pediatric settings, which allows it to be sold throughout Europe and other countries.
18 Features Spotlight Local Places to Consume
Visit Anaheim, the destination marketing organization for Anaheim and Garden Grove, hired online content publisher FOODBEAST in Santa Ana to create videos showcasing the area’s “diverse craft brew and local dining scene.”
Obama Adviser Marks Increased Applications
Michelle Lee, a senior economic adviser to President Barack Obama and the country’s top patent official, in a recent interview with the Business Journal highlighted the importance of new technologies related to cybersecurity, a growing area of specialization in Orange County.
Sales and leases of offices, industrial buildings, retail space and apartments
Joseph Trading, a provider of flavorings for Yogurtland, signed a three-year lease at 6180 Valley View St. in Buena Park.
New Fund Would Be Its Fourth Since 2008
Ladera Ranch-based SmartStop Asset Management LLC is looking raise more than $1 billion to fund another batch of self-storage facility acquisitions across the country as it takes the wraps off of a new development in its hometown.
Site Also Connects Them To Wider Client Base
A San Clemente-based company has created a website that connects advisers in related financial professions to each other and to consumers.
A couple of recent visitors came from the East Coast and left the clear impression that old stereotypes about Orange County—all-white population, conservative to the point of reactionary, land of goofy housewives—are a thing of the past on the other side of the continent, too …
REAL ESTATE: Trio adjacent to Outlets, Christ Cathedral
A trio of office properties near the Outlets at Orange shopping center—along with adjacent land that’s expected to hold a host of apartments—has new ownership after a deal valued in excess of $100 million.
MANUFACTURING: Bucks trend with Costa Mesa factory
Skyco Skylights Inc. is bucking the trend with its manufacturing operation in Orange County.
RETAIL: In talks with mall landlords on lease revisions
Pacific Sunwear of California Inc. in Anaheim plans to close 46 stores as it emerges from bankruptcy in October, and another 75 over the course of the next year or so.