Orange County Business Journal

OCBJ WEEKLY EDITION

CT Realty Plans NorCal Industrial Project

Newport Beach-based CT Realty Investors is planning one of the largest speculative industrial developments in Northern California in years after buying a big chunk of land in the Central Valley city of Stockton.

By Mark Mueller May 22, 2017 midnight share »

Startup Buys Entertainment Centers for $60M

Irvine-based startup Oomba Inc. has taken an unconventional route toward buying an entertainment and gaming venues company from Chatsworth-based GameWorks Entertainment LLC.

By Deirdre Newman May 22, 2017 midnight share »

Billabong Seeks Smaller OC Space

Billabong USA may be looking for new, smaller, digs in Orange County, the company confirmed last week.

By Mediha DiMartino May 22, 2017 midnight share »

L Squared Co-Purchases Elevator Servicer

Newport Beach-based L Squared Capital Partners and Chicago-based Longview Asset Management LLC purchased service provider Oracle Elevator for an undisclosed amount.

May 22, 2017 midnight share »

CrowdStrike Takes in Another $100M

Irvine-based CrowdStrike Inc. raised $100 million in its latest funding round, the second time the security software maker has hit that benchmark.

May 22, 2017 midnight share »

Software Maker Buys German Company

MSC Software Corp. in Newport Beach, a unit of Hexagon AB’s Manufacturing Intelligence, said it will buy VIRES Simulationstechnologie GmbH to expand into automated driving technology.

May 22, 2017 midnight share »

Ex-Energy Dept. Exec to Nuclear Firm

Former Department of Energy Secretary Ernest Moniz joined the board of nuclear fusion company Tri-Alpha Energy Inc. in Foothill Ranch.

May 22, 2017 midnight share »

Wanted: Most Community-Minded Companies for New OCBJ List

Is your company about much more than its bottom line? Does it also use its resources to better the Orange County community?

May 22, 2017 midnight share »

Sadeghi Plans More Retail Magic at 2 New Sites

Shaheen Sadeghi, the visionary behind the Anaheim Packing House and other hip retail concepts, has picked a 12-acre site in San Marcos in San Diego County as his next challenge.

By Mediha DiMartino May 22, 2017 midnight share »

Stillwater Looks Inland With $38M Riverside Buy

Irvine-based Stillwater Investment Group, an investor in office, industrial, apartment and retail properties that began operations in 2014, has made its largest acquisition of the year in one of the most prominent office properties in the city of Riverside.

By Mark Mueller May 22, 2017 midnight share »

Apparel Makers’ OC Employment Drops 5% to 8,593

Orange County’s largest apparel makers slowed hiring over the past year.

By Mediha DiMartino May 22, 2017 midnight share »

ADDENDUM

The Pacific Symphony moved into a new headquarters office in Irvine.

By Hannah Mitchell May 22, 2017 midnight share »

Affluent Buyers Have Wealth of Choices This Spring

Orange County’s active high-end home market inventory is on the rise, with 38 new listings above $4 million added to the Multiple Listing Service in the first 10 days of May.

By Kim Haman May 22, 2017 midnight share »

TherOx to File for FDA Approval for Oxygen Product

Irvine-based device maker TherOx Inc. plans to file for U.S. Food and Drug Administration approval early next year on a product that delivers “super-saturated oxygen”—a saline solution with the patient’s blood that contains seven times normal oxygen levels—for treatment of heart attack patients.

By Sherry Hsieh May 22, 2017 midnight share »

Boost Mobile Aims to Boost Sales With ‘Project Switch’

Boost Mobile LLC in Irvine launched national marketing and advertising campaign “Project Switch,” which highlights its “four lines for $100” offer.

By Mediha DiMartino May 22, 2017 midnight share »

OCBJ Calendar

This week's business and other event listings.

By Dana Truong May 22, 2017 midnight share »

Insurance App Firm With CSUF Roots Kicks Off

A Southern California company hatched at California State University-Fullerton’s incubator program has launched its core product.

By Deirdre Newman May 22, 2017 midnight share »

How Broadcom Shook OC Tech, Real Estate Markets

With news that Singapore-based Broadcom Ltd. could sell its campus at Irvine’s Great Park Neighborhoods for $443 million back to FivePoint Communities Inc., here’s a look at how the chip giant has shaken up the local tech and real estate landscape.

By Chris Casacchia May 22, 2017 midnight share »

Porsche Dealership is Spectrum’s Latest Auto Addition

Karma Automotive LLC isn’t the only high-end car company making notable real estate moves in the Irvine Spectrum area.

By Mark Mueller May 22, 2017 midnight share »

Real Estate Deals

Palm Gardens Apartment Homes, a 92-unit multifamily community in Tustin, was sold for $27.5 million, or about $299,000 per unit.

By Dana Truong May 22, 2017 midnight share »

On California

In my last “On California” column, I showed that Orange County housing prices skyrocketed from $200,000 in 1996 to $670,000 in 2004—an increase of 235% over the eight-year period. That compares over the same years to a much milder 60% increase for the U.S. as a whole. I concluded that article by showing that the current mismatch between income and housing prices in Orange County, as well as in California, stems from the spike in housing appreciation that occurred during the period. I left as a mystery how and why it happened.

By James L. Doti May 22, 2017 midnight share »
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Opus Bank Struggles to Regain Footing

Shareholders at last week’s annual meeting of Irvine-based Opus Bank had plenty to discuss about the past year when the once high-flying bank fell back to earth.

By Peter J. Brennan May 19, 2017 10:56 a.m. share »
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Sabra to Double Workers, Add Space After Merger

Sabra Health Care REIT Inc. in Irvine said its pending merger with Care Capital Properties Inc. in Chicago strengthens its portfolio, despite a return to a majority skilled nursing concentration.

By Sherry Hsieh May 18, 2017 11:24 a.m. share »
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Advantage’s Next Growth Step: IPO

Advantage Solutions Inc.’s initial public offering filing provides a glimpse into the Irvine-based company’s strategy of growth through acquisition of complementary sales and marketing businesses—it spent about $566 million on 39 deals in the past three years.

By Mediha DiMartino May 17, 2017 11:07 a.m. share »
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$443M Would Make FivePoint Broadcom Landlord

The $443 million sale of Broadcom Ltd.’s campus under construction in Irvine would be Orange County’s biggest office transaction in a decade.

By Mark Mueller May 16, 2017 9:18 a.m. share »
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Rare View From the Top

Kate Duchene wants to get Resources Global Professionals back on a growth spurt.

By Chris Casacchia May 15, 2017 10:54 a.m. share »

Katella Ave. Developers Go West to Cypress, Los Al

A roughly two-mile stretch of land along Katella Avenue in Anaheim could well be considered the hub of infill redevelopment in Orange County.

By Mark Mueller May 15, 2017 midnight share »

Emile’s Big Deal; The Real on Neal; OCMA’s Fine Feel

Nothing mixed about a certain aspect of Emile Haddad’s personal perspective on FivePoint Holdings’ debut on the New York Stock Exchange last week, when an opening share price of $14 was below an earlier stated range but also rose by about 7% in the first day of trading—good for a market cap of about $3.3 billion.

By Jerry Sullivan May 15, 2017 midnight share »

Luxe Hotel Planned Near Disneyland Resort

A 3.4-acre site just east of the Santa Ana (5) Freeway in Anaheim is being considered for a four-diamond hotel, the latest luxury hospitality project proposed for the area around the Anaheim Resort district.

By Mark Mueller May 15, 2017 midnight share »

Nemus Diversifies R&D With $20 Million Investment

Nemus Bioscience Inc., a preclinical biopharmaceutical company developing cannabinoid-based drugs, has secured its largest financing to date.

By Sherry Hsieh May 15, 2017 midnight share »

Blues Event Founder Starts Genre Group

The 20th Doheny Blues Festival will rock Doheny State Beach in Dana Point this weekend, an anniversary that prompted founder Rich Sherman to consider his legacy.

By Deirdre Newman May 15, 2017 midnight share »

Report: Haves, Have-Nots in Aging OC

Orange County’s population will pass 3.5 million in 2040—and many residents may be over 120 years old. Every age cohort but 65-plus are leaving OC by some measure, one of the “pressure points” cited in the 17th Annual 2017 Community Indicators Report, a survey of quality of life in the county, presented last week.

May 15, 2017 midnight share »

Outgoing Dean to First American Board

First American Financial Corp. in Santa Ana appointed Reginald “Reggie” Gilyard to its board of directors, expanding the body to nine members.

May 15, 2017 midnight share »

Pieology Picks Permanent President

Pieology Pizzeria in Rancho Santa Margarita named Michael Nolan president. Founder and Chief Executive Carl Chang had been handling the president’s duties for about two years.

May 15, 2017 midnight share »

Architecture Firm Grows Texas Presence

Irvine-based design firm LPA Inc., the largest architecture firm in Orange County, opened an office in Dallas, its sixth U.S. location.

May 15, 2017 midnight share »

Shy One No More

Suzanne Richards, system chief executive for for-profit, eight-hospital KPC Global Management LLC, has made a career as a hospital restructuring expert. She took on her first KPC hospital in 2012 and increased earnings of the 101-bed acute care hospital in Victor Valley from $300,000 to $6 million in a year.

By Sherry Hsieh May 15, 2017 midnight share »

An A+ From Wall Street

While taking an entrepreneurial class for an MBA at the University of California-Los Angeles, Shannon Eusey wrote a business plan for a company she wanted to start.

By Peter J. Brennan May 15, 2017 midnight share »