Stories for April 2018

Monday, April 30

LA Homeless Nonprofit Will Expand to Anaheim

Los Angeles-based nonprofit Chrysalis is taking its first step outside of Los Angeles County by seeking a new office in Anaheim.

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Allergan Q1 Beats Street Estimate

Allergan Plc posted first quarter earnings that beat analyst estimates and raised its revenue guidance for 2018.

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Insurance Firm Bought

Costa Mesa-based life insurance planning firm Tippett Moorhead & Haden Insurance Services LLC has been acquired by the Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm. Terms of the transaction weren’t announced.

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Judge to Rule Tuesday on Mazzo: Dismissal or Third Trial

Lawyers came to Judge Andrew Guilford’s courtroom on Monday with two motions and three arguments to prevent a third trial against Jim Mazzo for breaking insider trading rules.

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Midday Stock Roundup

The S&P 500 dropped 0.5% in midday trading to 2,656.48.

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Pacific Hospitality Group Buys AC Hotel in Dallas

HOSPITALITY: Now has four ACs in four states

Pacific Hospitality Group Ventures Inc. affiliate DG Hotels Ventures LLC bought a newly opened 256-room, dual-branded property in Dallas.

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Jess Romo

Started Sept. 2016 after 20 years with Los Angeles World Airports, which runs LAX … midyear 2017 passenger volume up 47% YOY to 1.3M … new slots at cityowned facility brought Southwest flights to battle JetBlue … concessions, parking income up … RFP responses due Nov. 1 for 31-acre, aerospace development nearby … B.A. UCI, psychology; M.A., CSULA, industrial psychology

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SBA Lenders See Big Shakeup as Growth Slows

Loans Up 13.2% By Dollar, 5% by Number

A 13.2% growth in Small Business Administration loans by dollar value would normally be a celebration in Orange County.

Private Companies Wanted For Annual List

SPECIAL ISSUE: List will be centerpiece of June 18 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

Designing a New Economic Model

How a Newport Decorator Got Back in the Black

Interior designers looking to spur their creative juices and graduate out of their home offices can head to a new co-working space in Newport Beach called Studio88.

HB Sand Volleyball Tourney Goes Global

SPORTS: AVP event to host overseas and US teams

The Association of Volleyball Professionals will open its season this week in Huntington Beach with international flair.


Took students to New York every January.

Real Estate Deals

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

ACS Development Group Inc. leased a medical office building to Children’s Hospital of Orange County for nearly 10 years.

Pang for ‘Green’ Cosmetics Grew Into Retail Brand

Got Lift With Letter Sent to Paris Boutique

Most cosmetics startups consider landing on Sephora shelves as a benchmark of success. For Laguna Beach-based Ilia Beauty Inc., the nod came from Colette, an influential Parisian boutique frequented by Chanel designer Karl Lagerfeld and other fashion gurus.

Boeing Looks to Shed Surf City Office, Excess Land

8-Story Office Could Fetch $60 Million, Make Way for Industrial

Boeing Corp. has put one of its largest area properties on the market for sale.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 18

Santa Ana-based Ducommun Inc. acquired Certified Thermoplastics Co. LLC for $30.5 million.

OCBJ Calendar

April 30-May 9, 2018

This week's business and other event listings.

Wells Fargo’s SBA Lending Falls 74%

FINANCE: Bank cites fierce competition in niche

Wells Fargo & Co.’s lending to Orange County small businesses plummeted 74%, based on the latest Business Journal ranking of loans backed by the federal Small Business Administration.

BioCorRx Seeks FDA Nod for Addiction Product

Studying Program Effectiveness Using VR

BioCorRx Inc. Chief Executive Brady Granier said the company’s history of treating addiction long predates President Donald Trump’s public health emergency declaration over opioid addiction.

Engineer Goes All-In on Coding School Enterprise

Opens OC Outpost Of Small-Classes Concept

Engineer-turned-entrepreneur Jim Shen is bringing an educational concept developed in Silicon Valley to Orange County.

Fullerton Buys Add to Duke Realty’s OC Holdings

$22.8M for Site Follows 2017 Buena Park Deal

Indianapolis-based Duke Realty Corp., one of the country’s top owners of large industrial properties, is beefing up its local portfolio.

Orange-Based Cirtech Carves Bomb-Parts Niche

Fights Against Rivals for Survival

Brad Reese, during a recent tour of his Cirtech Inc. factory in Orange, pointed out an unusually shaped semiconductor board.

Surterre Gives Agents a Hand With New Ad Platform

Service Product Of ‘Years Of’ Tech Research

Residential brokerage firm Surterre Properties is getting into the advertising business.

Heartstitch Gets European Regulatory OK for Device

Technology Used For Mitral Valve Repair

The next frontier in the interventional cardiology world is transcatheter mitral valve repair and replacement.


More than 2,500 volunteers from the Orange County community laced up their shoes in support of critically ill children and their families at this year’s Orange County Ronald McDonald House Walk for Kids.

OC Banks’ Profits Surge

FINANCE: Cite discipline, loans

The biggest banks headquartered in Orange County reported a gusher of profits in the first quarter.

Friday, April 27

Happens in Vegas

Santa-Ana based ESports Arena expands to Las Vegas, with some local partners. Plus, Boeing shops a Surf City tower and how CSUF’s new boss is bringing the real economy to the Ivory Tower.

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Midday Stock Roundup

The S&P 500 climbed 0.3% in midday trading to 2,672.34.

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Thursday, April 26

Gregg Schwenk

Co-founded movie fest with Todd Quartararo 1999, San Diego PR firm owner … film festival grown to screener of 350 films from 50 countries … 55K attendees in eight days … international stature … sponsors have included Fashion Island, Tito’s Handmade Vodka … films presented include US premiere, ‘Crash’ … Schwenk worked in banking, M&A, research … UC Berkeley grad

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Providence Head Talks Plans After Merger Dies

HEALTHCARE: Care close to patients, tech in the center

Were St. Louis, Mo.-based Ascension Healthcare and Renton, Wash.-based Providence St. Joseph Health to merge, the health systems would be the largest U.S. owner of hospitals, with 191 across 27 states and the District of Columbia between them—topping Nashville-based HCA Healthcare Inc., which has 177 hospitals in 20 states and the United Kingdom.

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CalAmp Posts Record Quarterly Revenue

CalAmp Corp. (Nasdaq: CAMP) topped Wall Street estimates in revenue and operating income in the February quarter, reporting after the market closed.

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BJ's Revenue, Income, Comps Up

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach reported higher revenue, net income and same-store sales in its most recent quarter.

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Midday Stock Roundup

Indexes were higher on earnings reports by Facebook Inc. and Chipotle Mexican Grill Inc., with Inc. scheduled to report numbers after markets close.

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March Airport Traffic Up

John Wayne Airport passenger traffic rose 5% year-over-year in March to 898,000 passengers.

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Wednesday, April 25

Augie Nieto

Fitness industry entrepreneur … given name Augustine … wife, Lynne; kids, grandkids … lives Corona del Mar … subject of 2017 documentary ‘Augie’ directed by James Keach of Oscarnominated Glen Campbell bio-doc … ‘Augie’ screened at NB film festival, also Boston, Nashville … coming theater run … Patrick Fuscoe, fellow OC 500er, credited in film … Augie’s Quest has raised about $60M to battle disease Nieto has—ALS

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Santa Ana Business Park Sells for Nearly $74 Million

REAL ESTATE: Greenlaw Partners buys 5 buildings

Orange County Business Center, a five-building office park in Santa Ana, has traded hands for nearly $74 million, in one of the largest office deals in the area this year.

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Lynn Jochim

Exec team, statewide developer … May IPO … $2B market cap … public co. includes Great Park Neighborhoods developer FivePoint … other state mega-developments … works with chief exec, OC 500’s Emile Haddad on strategy, sales, asset management, growth … moved from SF to lead Great Park work … led Lennar SF; Miami-based Lennar, company shareholder … experience, military base reuse analysis, E&Y

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Rich Uncles Affiliate Gets CFO

A new student housing REIT backed by the Rich Uncles investment group named Raymond Pacini chief financial officer.

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JetBlue LGB Airport Cuts Could Help Southwest

JetBlue Airways Corp. said it will cut its activity at Long Beach Airport by a third, from 35 daily flights to 23, on Sept. 5, in a move that opens up opportunities for other carriers, including John Wayne Airport’s largest air carrier by passenger totals, Southwest Airlines.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,628.67.

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PBS SoCal, KCET to Merge

Costa Mesa-based PBS SoCal expects to merge with KCETLink Media by mid-year with the newly formed group operating under a new name.

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$10M for CHOC Autism Center

Children’s Hospital of Orange County plans to open an autism center at 170 S. Main St. in Orange in early 2019.

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Tuesday, April 24

JetBlue to Sell JetSuiteX Seats

Seats on scheduled charters by JetSuiteX will be available on JetBlue’s website starting May 1 in an industry practice called code-sharing.

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Exporting Arts County

PSO, Carl St. Clair Make it To Carnegie Hall

Orange County’s Pacific Symphony played Carnegie Hall Saturday night (barring the unforeseen—The Business Journal goes to press Friday afternoon). It is as it seems. “A big deal. Always been at the apex,” said symphony President John Forsythe during the intermission of a “practice concert” at Segerstrom Concert Hall on April 14. “And to be invited and part of this series. And finishing it off there Saturday night. Very proud.”

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Jaksch to Exec Chairman; ChromaDex Names New CEO

ChromaDex Corp. (Nasdaq: CDXC) said Chief Executive Frank Jaksch will become executive chairman and the company’s current president and chief operating officer, Rob Fried, will get Jaksch's role June 22, after the company’s annual meeting.

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Boardriders Completes Billabong Buy

Huntington Beach-based Boardriders Inc. completed its acquisition of rival Billabong International Ltd. on Tuesday.

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ADL Lawyer Will Head UC’s Free Speech Center

Michelle Deutchman has been named the first executive director of the University of California’s National Center for Free Speech and Civic Engagement.

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Midday Stock Roundup

The major indexes fell steeply in midday trading as bond yields briefly topped 3% for the first time in four years, and an Apple partner lowered sales forecasts, triggering fears about iPhone X sales.

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Monday, April 23

Vanguard Eyes Updates To Costa Mesa Campus

Project Would Help Boost Enrollment

Vanguard University is planning an extensive renovation and expansion of its Costa Mesa campus in an effort to boost enrollment by more than 25%.

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Robert Mayer

Family, business patriarch … saw HB hotels, residential, retail decades ago where others saw sand, surf … built Hyatt Regency, Waterfront Hilton … 950 rooms … life turning point ‘purchase of Waterfront property’ … one that got away ‘Long Beach Pike project’ … brisk schedule in his 90s … natty dresser … storytelling memoirist … Business Journal Person of the Year, Hospitality, 2016

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Ducommun Closes $30.5M Buy

Santa Ana-based Ducommun Inc. (NYSE: DCO) has acquired Certified Thermoplastics Co. LLC for $30.5 million.

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The Venture Banker

After 26 Years, Byron Roth Keeps Adapting, Embracing Risk

Byron Roth has a feeling that his company’s dealmaking on Wall Street is about to take off.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,672.69.

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David Sun

He and John Tu lead world’s largest memory products maker for computers, consumer electronics … big moves afoot in solid-state drives … 2016 shipments up 15% to 12 million, behind only Samsung … firm founded 1986 … sold 80% to Softbank in 1996 for $1.5B, bought it back in 1999, $450M … Business Journal OC’s Wealthiest, $4.2B

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OCTANe Forms Partnership to Attract Outside Cash

Will Tap Family Office Networks

Orange County technology and life science accelerator OCTANe has partnered with New York-based Small Cap Nation, a financial-media content distribution platform that develops news and information through video, social media, articles, broadcast and newsletters. It’s focused on the small-cap sector.

The Properties That Top Inland OC’s Priciest List

Horse Estates, Hilltops With Views to the Ocean

In coastal Orange County, the stunning mansions that dot the oceanview cliffs and line the sand regularly boast list prices upwards of $7 million, $10 million and more.

Seasoned Business Builder Gets VC Cash for New Co.

$11.7M to Software Maker That Saves Firms Money

Serial entrepreneur Tracy Price has been running down a dream for more than two decades.

Sales Schedule Out for Coveted BlizzCon Tickets

$199 Passes Sell Fast; Virtual Versions an Option

Irvine-based Blizzard Entertainment Inc. will hold its annual fanfest Nov. 2 and 3 at the Anaheim Convention Center.

Willowick Golf Course Plans Get 2 Cities’ Attention

RFP for Developer Of 101.5-Acre Site on Tap

Santa Ana and Garden Grove are considering redevelopment of the Willowick Golf Course, and should soon take initial steps to find a master developer.

Visit Anaheim Ads Show City’s Non-Disney Sides

Three-Year Campaign Focuses on Other Strengths

Visit Anaheim introduced a new cast of characters this month to highlight the city’s attractions.

Apparel Companies Hemmed Their Job Lines

Losses Eased And Several Bucked Trend

Orange County’s largest apparel companies showed they aren’t immune to the ongoing headwinds facing the apparel industry as local employment in the 12 months through March fell slightly for the second year.

Private Companies Wanted For Annual List

SPECIAL ISSUE: List will be centerpiece of June 18 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

Execs Orchestrate Soul-Soothing Downtime

Moonlighting Gigs Build Client Bases, Help Charities

Orange County is the birthplace of a number of national headliners—No Doubt, Cold War Kids, Sublime, The Offspring and Social Distortion.

Diagnostics Lab Bulks Up With Buy

HEALTHCARE: Grows SoCal presence with M&A

Vantari Genetics Chief Executive Nick Arroyo said there are only two ways to grow the private company, organically through internal growth or through mergers and acquisitions.

Ten Bagger

Any job should get a little old after say, 25 years, even for those at the top of their game.

Business Bites

Newport Beach-based United Capital Financial Advisers LLC released its newest white-label software for financial advisers.

OCBJ Calendar

April 23-May 2; May 3, 2018

This week's business and other event listings.

Real Estate Deals

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

Stander Properties LLC sold a warehouse to Jianwei Li for $4.6 million, or $215 per square foot.

Friday, April 20

Venture Banker

Byron Roth has run Roth Capital in Newport since 1992. The 30th Roth Capital Conference in Dana Point had 550 presenters, 4,700 attendees and Big & Rich.

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Midday Stock Roundup

The S&P 500 was down 0.7% in midday trading to 2,673.55.

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March Unemployment Falls

Orange County’s unadjusted unemployment rate fell to 2.8% in March from a revised 3.1% in February and well below the 3.7% reported a year earlier, according to the state’s Employment Development Department.

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Goodwill: Talarico Resigns

Frank Talarico, Jr. resigned after six years as president and chief executive of Goodwill of Orange County, effective April 9, the nonprofit said in a letter by Board Chairman Dick Trueblood.

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Thursday, April 19

OC CalAtlantic Homes Get Lennar Upgrades

REAL ESTATE: Efficient building key post-combo tweak

The results of Lennar Corp.’s February acquisition of Irvine-based homebuilder Cal-Atlantic Group Inc. are starting to surface at some of the combined company’s area developments and in Orange County’s office market.

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Gen. William Lyon

50 + years homebuilding … now retired from day-to-day at eponymous firm … 100K+ homes built in Western U.S. on his watch … ex-commander USAF Reserves … community leader, philanthropist … backs veterans … helped OC Rescue Mission buy Tustin apartment units for vets … vintage car collector … long-time friend + former business partner of George Argyros, OC 500

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Allergan Opens, Closes, Window on Shire

Allergan PLC won’t pursue a deal to buy Shire PLC, the company said, after earlier considering a bid.

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Midday Stock Roundup

The S&P 500 was down 0.8% in midday trading to 2,686.99.

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Wednesday, April 18

HCP Starts ’18 With Retooled Portfolio

REAL ESTATE: Disposition, more life science properties

HCP Inc.’s (NYSE: HCP) repositioning has been a bumpy one over the course of the past 18 months.

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Reynolds C. Bish

2017: third sale in 3 years for document software co. … Chicago PE firm Thomas Bravo bought for $1.2B from Lexmark … Kofax ‘once again an independent company’ … $400M revenue … 22K clients, 70 countries … backs

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Midday Stock Roundup

The S&P 500 was up 0.3% in midday trading to 2,713.42.

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Tuesday, April 17

NZ Operator Wants Taco Bell at Home

Restaurant Brands New Zealand Ltd. said in an investor presentation and in a news report it wants to buy a Taco Bell franchise group on the U.S. mainland, bring the brand to New Zealand, and expand the chain in Australia.

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Titan Lands Hefty Security Deal

‘$900M on High End,’ Says Founder

App developer Titan Health & Security Technologies Inc.’s new contract with a global security services firm has propelled the Newport Beach-based startup into the nation’s upper tier of emergency communication providers.

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Joe Kiani

Innovator of the Year honoree … medical monitor maker ‘figured out [problem] and what can be done’ … founded patient safety … launched Masimo with second mortgage … 2007 IPO … market cap $4.4B; 2016 revenue $695M, up 10% … OC’s Wealthiest, $575M … now angel investor … chief exec, wearables firm Cercacor … Business Journal Style File

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Midday Stock Roundup

U.S. indexes continued climbing on strong corporate profit reports at the start of the earnings season and are now up eight of the past 11 trading sessions.

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Kay Zanotti

Runs ‘direct-selling’—recent name for MLM-network model—skincare, nutrition, cosmetics co. with 180K consultants in US, UK, beyond … founded 1975, Switzerland … $540M annual revenue … recently moved to expand ‘preferred client base’ of about 700K buyers who purchase for own use, not business … 300+ local workers … No. 36 Business Journal largest local private cos. … ex-McDonald’s senior marketing VP … PE-backed

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Irvine Architectural Firm Bought

Gkkworks, an Irvine-based architectural firm with 100 employees, has been bought by CannonDesign.

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A New Giant in Cooling Emerges in Brea

CoolSys Sees $30B TAM in Refrigeration

The city of Brea may soon boast a fast-growing company with $1 billion in annual sales.

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Monday, April 16

Midday Stock Roundup

U.S. indexes climbed on strong corporate profit reports at the start of the earnings season.

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Kobe Bryant

Lakers legend … five-time NBA champs … launched $100M VC 2016 with business partner Jeff Stibel … helped bid for Summer Olympics, SoCal 2028 … gives via Kobe and Vanessa Bryant Family Foundation: United Way, Step

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United Capital Unveils Adviser Tool

Newport Beach-based United Capital Financial Advisers LLC, which has $21.6 billion assets under management, released its newest white-label software for financial advisers.

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Real Estate Deals

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

Treichler Trust sold an office/warehouse building to Joyetech Inc. for $5.1 million, or $264 per square foot.

Ready to Launch

Surf City Unicorn Aims to Scale Space

­­Huntington Beach-based Rocket Lab will open a 14-day window this week on its first commercial orbital launch.

Ziggurat Landmark’s Future in Balance Again

Iconic Fed Office Eyed for Sale

The fate of the Chet Holifield Federal Building in Laguna Niguel, Orange County’s largest office and one of the area’s most distinctive structures, is once again up in the air.

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Avionics Vet Found Own Way in Men-Led Field

Meets Worker Shortfall Challenge as Work Builds

Kathryn Brewer is charting the next leg of growth for Leading Edge Avionics.

She Adapted to Fit In and Now Stands Out in a Crowd

Fuel Distributor Owner Encourages Other Women

Two out of four images on Koch Industries Inc.’s website feature a woman. One appears to be building something, while another, decked out in protective gear, is standing in front of a wall of oil barrels, her picture a link to “rewarding careers.”


Edwards Lifesciences and high-flying unicorn Rocket Labs share a passion in this week’s paper: OC’s “talent pool.”

Bigger Newport Film Festival Draws Local Sponsors

Eight Days of Flicks Include New Theater

Several Orange County companies are taking lead roles in producing the upcoming Newport Beach Film Festival.

Manufacturers Post 36th Quarter of Modest Growth

MANUFACTURING: Labor shortage, price spikes loom

For the 36th straight quarter, Orange County manufacturers plan to expand output—as measured by Chapman University’s quarterly survey of purchasing managers.

Private Companies Wanted for Annual List

SPECIAL ISSUE: List will be centerpiece of June 18 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

First Foundation, Opus Settle Dispute

FINANCE: Rivals engaged over alleged employee theft

Opus Bank (Nasdaq: OPB) settled its complaint about alleged theft of its employees by rival First Foundation Inc. (Nasdaq: FFWM).


More Orange County students are staying in school and fewer families are struggling financially, but significant challenges in the community remain, according to Orange County United Way’s third annual FACE 2024 Scorecard Report.

No Advantage, Small Gains For 2017 Ad Agency Roster

Data the Driver in ‘Media Landscape Changing Quickly’

The Business Journal’s list of Orange County’s largest advertising agencies swelled its ranks and grew revenues modestly over the past year.

Trend Sets the Trend As Local Printers Adapt

Fighting Disruption With Digital Printing, Packaging

Orange County’s largest commercial printers posted only steady results in 2016, but the 29 companies on this week’s Business Journal list picked up the pace last year.

OCBJ Calendar

April 16-25; April 28, 2018

This week's business and other event listings.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 16

Irvine-based Sunwest Bank hired Ben Alvarado, Wells Fargo & Co.’s former head of operations for the retail branch network in Orange County and San Diego, as an executive vice president in charge of retail and business banking.

MYnd Analytics Raises $2.1M to Expand Platform

Offers Telemedicine and Diagnostics Services

Mental health is a hot issue, particularly in light of the country’s declared opioid epidemic, and Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) appears to be on the right track with its diagnostics platform and telemedicine.

Karma Taps California Root System for Campaign

Locally Shot Ads Highlight Car’s Birthplace

Irvine-based carmaker Karma Automotive started its second network television campaign promoting its new luxury Revero model as the “most beautiful electric car you have ever seen.”

Intracorp’s IBC Strategy: Sales, Not Apartments

247 Irvine Units in Works; Costa Mesa Homes, Also

Intracorp Cos. is preparing to take the wraps off the first of several for-sale, infill housing projects near John Wayne Airport.

Acacia Proxy Fight Heats Up With Board Namings

Big Shareholder Cries Foul, Cites Skills Dearth

Acacia Research Corp. has appointed two additional independent directors to its board, much to the consternation of one of its largest shareholders, which has pressed the Newport Beach-based company to replace its chairman and another board member.

Flowspace Expands Footprint to Five New States

To Offer Short-Term Lease Flexibility

There’s no turning back from shopping online. E-commerce totaled $453 billion last year, representing 13% of total retail sales and up 16% year-over-year, according to a U.S. Commerce Department report.

Friday, April 13

Cool Rockets

Surf City’s Rocket Lab is about to take off, aiming to scale space with frequent trips and payloads of thousands of small satellites. Some smart money is betting on this unicorn.

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AutoWeb Names CEO

Jared Rowe was named director, president and chief executive of Irvine-based marketing firm AutoWeb Inc.

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Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,667.58.

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Disney Growth Plans Extend to Industrial Sites

REAL ESTATE: Largest Q1 lease for Cerritos Ave. building

Walt Disney Co. recently signed a lease for an industrial building in Anaheim, the latest notable real estate move of Orange County’s largest employer and the biggest industrial lease in OC so far this year by square footage.

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Thursday, April 12

James Peterson

Fourth-biggest OC chipmaker, with 230 workers … $5.8B market cap, $1.7B annual revenue, 4,300 employees … Microsemi’s $1.5M to UCI helped endow named presidential chair in electrical engineering … funds research, teaching, equipment, graduate fellowships … 1- year deal in 2016 bought naming rights to L.A. Rams practice facility at UCI

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JetSuite Moving to Dallas

Charter airline JetSuite Inc. plans to move its headquarters from Irvine to Dallas as part of growing JetSuiteX, its scheduled charter division.

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Midday Stock Roundup

The S&P 500 was up 0.8% in midday trading to 2,663.73.

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Lindsey Ueberroth

Nearing 15 years with Preferred … joined father John Ueberroth’s firm 2004 … John and OC 500’s Peter Ueberroth are brothers … markets 600 indie, high-end boutique hotels, 85 countries … named president 2010 … entered partnerships, 20 new countries … led 2015 rebrand of company into five hotel collections … on Historic Hotels of America board … Young Presidents’ Org … Wake Forest grad

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Wednesday, April 11

Angels’ Value: $1.8B

The value of the Los Angeles Angels of Anaheim rose 3% in the past year to $1.8 billion, according to Forbes’ latest annual estimates.

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State Fines Oil Driller $12.6M

State regulators fined Greka Oil & Gas $12.6 million for safety violations related to the Richfield oil fields northeast of Anaheim.

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Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 2,651.21.

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Hotel Rates, Revenue, Occupancy Up

Local hotels had higher average daily rates, occupancies, and revenue per available room in February, in both year-over-year numbers and compared with January, CBRE Hotels said. Most OC submarkets also increased.

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Tourism Spend Tops $12.5B

Orange County Visitors Association data shows tourism-related spending in Orange County rose last year for the fourth year running, topped $12.5 billion, and involved more than 177,000 jobs.

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Ten-X Unit Adds COO named Min Alexander chief operations officer, replacing Javid Jaberi, who the company said is retiring.

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Wing Lam

Constant on restaurant, charity scene … mans Wahoo’s truck at fundraisers … gift cards to Red Cross blood drives … has advised child skateboard entrepreneur Carson Kropfl, OC 500 … chain turns 30 in 2018 … No. 23, Business Journal restaurant list, $64M revenue … 1.5K workers, a third in OC … cat, Joey … passion: ‘my son, Levi’ … three words for his success: ‘my two brothers’

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Tuesday, April 10

JetSuite Gets Qatar, JetBlue Cash

Qatar Airways invested in JetSuite Inc., and JetBlue Airways increased its stake in the Irvine-based charter carrier on undisclosed terms.

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Private Companies Wanted for Annual List

Special Issue: List will be centerpiece of June 18 edition

The Business Journal is preparing its annual list of privately owned companies for publication in June.

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Shipyard Names CCO

Marketing firm The Shipyard named David Sonderman chief creative officer on Tuesday.

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Bedrosians Hires Home Depot Exec

Anaheim-based Bedrosians Tile and Stone named Diana Kelly president and chief operating officer.

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Peter Cooper

New Zealand native … attorney, ex-retail chief exec heads U.S. real estate developer, makes investments … Texas project near Fort Worth planned for 750 acres, 2.9M SF … about 40% done … a $1B, 16-acre retail

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Midday Stock Roundup

Indexes rose in midday trading after Chinese President Xi Jinping eased tensions about a potential trade war between China and the U.S.

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AutoGravity Targets Foreign Students

Irvine’s AutoGravity said it will work with Westbon Inc., which runs a lending platform for international students in the U.S.

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Monday, April 9

Simon Will Re-Do Brea Mall Sears

Indianapolis-based Simon Property Group Inc. plans to redevelop the vacant Sears store at Brea Mall.

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Martin Manniche

Still eyeing IPO at maker of software, hardware that can analyze gobs of data in real time … deal with SF-based Game Golf—33K mapped courses in 136 countries, wearable golf tracker, club sensors … players have uploaded 1.5 million rounds, data on 135M golf shots … Greenwave has raised $100M+ in debt, equity since 2008 founding

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Midday Stock Roundup

Indices rose in midday trading on easing tensions about a potential trade war between China and the U.S.

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FivePoint Plots More Affordable Offerings in Irvine

REAL ESTATE: Market rate condos would start at 654 SF

FivePoint Communities Inc., the real estate firm overseeing development of the former El Toro Marine base in Irvine, has disclosed plans to build some of the city’s smallest and likely most affordable homes in years.

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Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 6

Kia Motors America Chief Operating Officer and Executive Vice President Michael Sprague announced he’ll leave his post, effective April 17.

Cryoport Soared to Best-Performing Stock of Bunch

FINANCE: Netlist was worst performer in TTM

Now the envelopes for the five best- and five worst-performing stocks during the year ended March 29:

Cybersecurity Firm Nubeva Grows OC Operations

To Provide Blockchain-Based Cybersecurity Solution

Take away the hype around digital cryptocurrency—some claim it’s bogus, given that the virtual coins aren’t backed by anything but the value people give them—and what’s left is blockchain technology.

Fix Manufacturing Turns Tools into Fashion Statement

“It’s How You Carry It,” The Company Advises

Tony Zentil spent 17 years managing Oakley’s accessories division—helping to grow the category from $15 million to $100 million.

Masimo Positioned to Grow Telehealth Technologies

Hires Planned For Home-Care Frontier

Revenue from Irvine-based Masimo Corp.’s noninvasive patient monitoring technologies grew last year by 15% to $798.1 million, and Chief Executive Joe Kiani said the company plans to grow its new telehealth initiative.

SendGrid Adopts Design-Centered Tack at New Digs

Mass-Emails Specialist Triples Its OC Space

Denver-based SendGrid spent more than a year designing its new 22,000-square-foot office at 400 Spectrum Center in Irvine.

Apparel Maker Seeks New Repeat-Business Realities

La Jolla Group Teams With Austrian Marketer

Irvine-based apparel maker La Jolla Group wants to get personal with customers.

Optimism Stays Near Peak In Survey of OC Execs

Hiring Plans Goose Index Amid New Concerns

In looking to the second quarter, Orange County executives kept up the optimism. That’s according to California State University-Fullerton’s Orange County Business Expectations Survey, whose composite index held near its all-time high, dipping slightly quarter-over-quarter from 95.2 to 94.4.

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Innovation Institute’s Incubator Delivers First Product

Partners With Apothecary For Full CVS Launch

Innovation Institute, founded five years ago as an incubator to commercialize internal medical innovation by doctors, nurses and other hospital care providers in its six health system-owners network, has done exactly that.

Boot Barn Follows Up-and-Down Trickle of Oil

Stock Triples; Shows How to Bust Amazon

Boot Barn Inc.’s share price has a history of riding the price of oil like one of the bronco-riding cowboys at the annual rodeo it sponsors.

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OC Architectural Marvels Include Unique Homes

Glass Walls, Bridges Make Appearances

Retractable ceilings that take the concept of high ceilings to limitless heights.

Olson Construction Seeks Boost In Multiunit Projects

Move Meant to Diversify Mix, Retain Talent

R.D. Olson Construction Inc. has made recent inroads in multiunit contract building and said it will maintain or slightly expand its work in that market as it continues a diversification drive of the past five years in a slowing hotel construction market.

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Sanitation District Expands Fountain Valley Holdings

2-Story Office Next To Site It Has for New HQ

The Orange County Sanitation District has completed the purchase of an office building in Fountain Valley that it intends to use for expanding operations.


Publicly Traded Cos. See 15.4% Boost to Market Cap

Orange County’s publicly traded companies probably popped a lot of champagne bottles during the past year.

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Laguna Jewelry Maker Gorjana Goes Boldly into Retailing

RETAIL: Couple rolling out branded stores on both coasts

Jason Griffin and Gorjana Reidel spent 12 years charming major retailers such as Nordstrom Inc. and Bloomingdale’s with their delicate jewelry line when two years ago they took on a new challenge—real estate and branded stores.

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Karma Company Store Fits Right in on Tony Mile

AUTOMOTIVE: Gets traffic from nearby dealers

Karma Automotive LLC’s landing in Newport Beach was a good one—so good it’s in the process of doubling its presence there.

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Cancer-Tester LAM Exits Stealth Mode

HEALTHCARE: Launched IvyGene; to expand Irvine HQ

Irvine-based Laboratory for Advanced Medicine Inc. isn’t pursuing a magic-bullet immunotherapy drug to cure all cancers yet, but it sure is in growth mode.

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Verizon Bundles Telematics Buys Into Verizon Connect

$5B Rollup Included Homegrown Telogis

The long-awaited integration of Verizon Communications Inc.’s telematics unit, which featured a key acquisition in Orange County, is complete.

The Distinguished Businessman

Congressman Ed Royce, (R-Fullerton), took a victory lap last week before an OC Forum lunch crowd in Irvine … 36 years in office, 10 Sacto, 26 D.C. “When I was 40, putting term limits on committee chairs seemed like a good idea,” Royce joked.

Friday, April 6

Edwards Pumped Up OC Publics

We look at the collective performance of OC’s largest public cos. in the trailing twelve months, which was led by the largest—after another year of healthy returns at Edwards Lifesciences Corp.

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Sunwest Hires Well Fargo's ex-OC Chief

Sunwest Bank has hired Ben Alvarado, Wells Fargo & Co.’s former chief for Orange County and San Diego.

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Midday Stock Roundup

Indices declined in midday trading on the brewing trade-and-tariff war between China and the U.S.

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Kia COO Exits

Kia Motors America Chief Operating Officer and Executive Vice President Michael Sprague will leave his post, effective April 17.

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Thursday, April 5

Nekter to Add Two States

Nekter Juice Bar Inc. in Santa Ana will open franchised locations in Ohio and Minnesota this summer, new markets for the healthful food and juice bar chain.

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Arturo Moreno

Heading into 15th season as owner of team bought from Walt Disney Co. … made fortune in billboards, Arizona … U of A grad, marketing … past owner or bidder on other sports teams … fourth-gen Mexican- American, oldest of 11 kids … father ran print shop … Catholic school, Army 1965, Vietnam vet, three kids … started foundation 2004 with second wife, Carole … it’s given $6M

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Radisson Blu Planned for Anaheim

A 12-story, 326-room Radisson Blu hotel is planned in Anaheim, about a mile from Disneyland Resort, with an opening scheduled for 2020.

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Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,658.11.

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Josephine Garrett has been named chief financial officer of Irvine-based nonprofit MIND Research Institute.

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Carl Chang

Fast-casual, build-your-own pizza chain … aims to bulk up, be player in expected niche shake-up … No. 14 on Business Journal OC restaurant list—up 11 slots … $150M revenue, double YOY … 150 locations, most

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Wednesday, April 4

Alliant Buys Firm to Expand into Asia

Alliant Insurance Services Inc., a Newport Beach-based insurance broker, is expanding into Asia with the acquisition of Dumortier Risk Management Inc. Terms weren’t disclosed.

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Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading to 2,607.16.

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Tuesday, April 3

Ronald Simon

Parent company runs cabinetmaker, homebuilder with $600M revenue, 4,500 employees … builds under RSI Home in Inland Empire, Texas … recent deal $250M, 1,500-home project near Austin-Round Rock … expects to have opened total of 35 communities by 2018 … plans expansion to NorCal, Ariz., Fla. … said to be eyeing solar-energy … Business Journal OC’s Wealthiest, $1B

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March Auto Sales Rise

All Orange County-based automakers reported sales increases in March except for Hyundai Motor America and Hyundai’s Genesis brand.

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Axonics Secures $40M

Irvine-based Axonics Modulation Technologies received a $40.1 million financing comprised of $20.1 million in equity and a $20 million credit facility.

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Inari Medical Gets $27M

Irvine-based Inari Medical Inc. received $27 million in a series C round to support commercialization.

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Midday Stock Roundup

The S&P 500 climbed 0.4% in midday trading to 2,590.87.

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Aimee Weisner

Current role 2011 … reports to Mike Mussallem … previously executive VP, secretary over legal, HR, compliance— AMO, now part of J&J Vision … boards: Glaukos Corp., Heart Assn. OC … turning point: coming to California for college, ‘meeting my husband, the father of my children and love of my life, career in law and healthcare’ … 3 words for success: ‘faith, family, determination’

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Monday, April 2

Midday Stock Roundup

U.S. stocks declined across the board on worries about technology stocks and global trade. The S&P 500 dropped 2% to 2,586.41, while the Dow Jones Industrial Average fell 2.1% to 23,594.07. The Nasdaq plunged 2.4% to 6,891.07.

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Greg Trojan

Leads second-largest OC-based restaurant chain … $640M market cap, $993M revenue, $46M net … casual dining … pivoted to smaller footprint, faster service—e.g., ordering app—to compete with fast-casual brands … big jump net revenue 2015, has leveled off … 200 locations, 10 OC … co-founded 1970s for OC Chicago deep-dish pizza … sold to accountants … 1996 IPO at $5 share

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Acacia Now Finds Itself in Proxy War

New York Investors Don’t Buy New Business Strategy

One of Acacia Research Corp.’s largest shareholders is waging a proxy battle to oust the company’s chairman and another director up for re-election.

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PacMerc’s Vertin Looks to Complete Turnaround

FINANCE: Silicon Valley vet brings analytics to banking

Tom Vertin lost out in the competition for the top job at Silicon Valley Bank in 2011.

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CHOC Mental Health Inpatient Center One of Few

Targets Mid-April to Receive First Patients

“Adults with mental health [disorders] don’t just [develop them] all of a sudden,” said Dr. Hoang “Wayne” Nguyen, medical director of Children’s Hospital of Orange County’s new mental health inpatient center, which is scheduled to open this week.

Scorecard: Local Q1 Initial Public Offerings: 1

Slow Start, But OC ‘Set up for Strong Year’

The first quarter was OK for initial public offering activity, nationally and in the West—just not here.

OCBJ Calendar

April 2-11, 2018

This week's business and other event listings.

Business Bites

Other items of interest Orange County Business Journal Vol. 41, No. 14

on Swearingen, Mitsubishi Motors North America executive vice president and chief operating officer, announced his retirement, effective June 1.

Boardwalk Differences: Size, Style, Lots of Service

Concierge-Type Property Management at Irvine Site

Walking onto The Boardwalk campus for the first time, visitors could be forgiven for thinking they’ve stepped into Orange County’s newest, hippest luxury hotel instead of the first large office project in the airport area of Irvine since the recession.

A Nod to Eric Church

Rsing tide of recovery hasn’t lifted all boats—2.9% growth and half of all industries undergoing disruption can reduce the boost.

LoanDepot HQ Complex Back on Market for Sale

Last Sold for About $40M; One of Wen’s Local Assets

The Foothill Ranch office complex that holds the headquarters of mortgage lender LoanDepot Inc. and other tenants is on the market about 16 months after it last sold.

Metagenics Rethinks Nutrition in Patient Care

HEALTHCARE: Focuses on practitioners; plans clinic by year-end

Metagenics Inc. Chief Executive Brent Eck says he believes the future of healthcare is moving toward lifestyle medicine and that the company, which makes medical foods and nutraceuticals, can play a bigger role in shaping personalized nutrition.

Roadtrip Nation Plans Full Career-Search Path

NONPROFITS: Inspirational service for seekers takes new turns

Three kids, fresh out of Pepperdine University and with no set career goals, jumped into an old motor home and drove around the country, interviewing nearly 80 people, from Starbucks Chairman Howard Schultz to retired U.S. Supreme Court Justice Sandra Day O’Connor.

Building a Brand And A Moat in Electric Bikes

RETAIL: Don DiCostanzo powers Pedego on the 4 Ps

Tom Bock had just sold his company when he heard about Pedego electric bikes. “My friend had a bad experience with service, went to see Don, and he got him squared away.

Having a Record Year

17% Gains in Past Year As Leasing, Sales Climb

Another active year in building, apartment and land sales, along with solid leasing activity across all product types, made for a strong year among Orange County’s largest commercial brokerages.

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Entrepreneurs at Event Share Lessons Learned

K5, Tech Coast Angels Panels Tackle Dos, Don’ts

K5 Ventures and Tech Coast Angels’ recent Face 2 Face event remained true to its organizers’ intention when they started it in 2015: “We wanted to provide an event covering something different and not done before,” said K5 founder and Managing Director Ray Chan.

Real Estate Deals

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

3020 Pullman St. LLC sold a Tesla service center to a private individual for $16.6 million, or $425 per square foot.

Filing Reveals 2017 Alteryx Purchase Information

10-K Also Lays Out Customer-Base Diversity

The financial terms of Alteryx Inc.’s two acquisitions last year were among the disclosures included in the recent 10-K filing by the Irvine-based analytics software maker.

Innocean, Amusement Park in ADDY ’18 Spotlight

Crowd Lauds Innfluence, Gothold’s Record Haul

The American Advertising Federation of Orange County rolled out the red carpet for the advertising community at its annual awards ceremony at Balboa Bay Resort in Newport Beach.

Device Makers Ramp Up Patient Monitoring

Edwards Gets FDA OK; Masimo Centers on Remote

Irvine-based device maker Edwards Lifesciences Corp. (NYSE: EW), while best known as one of the pioneers in less-invasive transcatheter heart valves, also has a strong focus in critical-care patient monitoring.


More than 400 guests found themselves transported to 1940s New York on March 3, as they made their way down the red carpet for the Pacific Symphony’s 2018 Gala, On the Town, in celebration of the symphony’s April 21 Carnegie Hall debut.

Chefs Grab Spotlight in Season of Fundraisers, Awards

Two Competitions Wow Diners for Good Causes

Take 30 of Orange County’s top chefs, put them in a hotel ballroom, assign each to a table of 10 hungry diners, and have them cook an extravagant, five-course gourmet meal paired with wine tableside using minimal equipment but maximum talent.

Focus OC Warns of Future Without a Middle

ECONOMY: Deep, well- funded study a call to action

It wasn’t “please pass the cyanide,” but the report was largely sobering.

Great Park Neighborhoods Plans Medical Campus

REAL ESTATE: To be centered on cancer facility

Five Point Holdings LLC in Aliso Viejo and Duarte-based City of Hope will build a $200 million “best-in-class” outpatient cancer treatment facility at Great Park Neighborhoods in Irvine to anchor an 18-acre medical center campus.

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