Orange County Business Journal

OCBJ WEEKLY EDITION

Kingston Joins Pokémon Bandwagon With Competition

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.

Real Estate Deals

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.

Mid-Counties Industrial Market Hard to Read in Mixed Q2

Demand for real estate in the Mid-Counties industrial market has become a challenge to quantify with its historically low levels of inventory.

Cambria Hotel Eyed for Anaheim to be Chain’s Largest

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.

Lincoln Club’s Cue; Haddad’s Menace; Callahan’s Kickers

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.

Deeper Dive on Sales

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.

Milan Capital Buys in LB, Sells in Anaheim

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.

Liftoff for Growth

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.

Biolase Gets $10 Million for Ongoing Turnaround

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.

Huntington Beach Luxe Rentals Sell For Top Dollar

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.

Roberts-Owned Mission Inn Hits List

Mission Inn Hotel & Spa in Riverside was named to a 2016 top 10 list by readers of USA Today.

Biggest Area Subway Developer to Relocate Eateries

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.

Pokémon Go Craze Creates Buzz for Startups, Other Local Companies

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.

Little E Tells ‘Big Dog’ Pet Insurance Firm’s Story

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.

NextVR Gets $80 Million in Funding

Laguna Beach-based virtual reality content maker NextVR Inc. said it completed an $80 million round of funding led by Asian technology companies.

Microsemi Names Rams Practice Facility

Aliso Viejo-based chipmaker Microsemi Corp. took naming rights of the Los Angeles Rams practice facility at the University of California-Irvine.

Vietnam Firm Buys Dairy Products Maker

Marwit Capital in Newport Beach sold on undisclosed terms its Driftwood Dairy Inc. to Vietnam Dairy Products Corp.

OC Class A Rents Hit $3 Mark for 1st Time Since ’08

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.

Device Maker Appoints New Head

ReShape Medical Inc. in San Clemente named Mike Mangano president and chief executive.

Telecoms Reverse 2 Years of Job Cuts With 4% Gain

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.

OC Office Market Remains Landlord-Driven in Q2

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.

OC Industrial Market Demand Strong in Q2

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.

Retailers Vie for Limited New Space

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.

OC Cities’ Populations Inch Up Another 1% to 3M+

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.

Addendum

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.

Realty Agents Use ‘Storytelling’ to Entice Buyers

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.

OCBJ Calendar

Aug. 15-24, 2016; Sept. 22, 2016

This week's business and other event listings.

Masimo Takes Another Step Into Regional Oximetry

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.

Video Campaign Celebrates Anaheim’s Food, Brews

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.”

US Patent Chief Sees Momentum on Cybersecurity

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.

Real Estate Deals

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.

SmartStop Pursues New $1B REIT, Opens Local Gym

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.

Firm Banks on Fact That Advisers Need Advice, Too

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.

Perceptions of New OC Reality Range

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 …

Cigna Deal for Offices in Orange Tops $100M

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.

Skylights Manufacturer Sheds Light on Fast Growth

MANUFACTURING: Bucks trend with Costa Mesa factory

Skyco Skylights Inc. is bucking the trend with its manufacturing operation in Orange County.

PacSun to Shutter 132 More Stores

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.