Stories for July 2019

Wednesday, July 31

Alteryx Sales up 59%; Shares Pop

Irvine’s Alteryx Inc. today reported second quarter results that topped analysts’ expectations and the shares rose as much as 6%.

Tease photo

Fastest-Growing Private Companies Wanted for Business Journal’s Annual List

Centerpiece of Sept. 16 Special Report

Is your company growing fast?

Tease photo

Midday Stock Roundup

The S&P 500 inched up 0.1% in midday trading to 3,016.23.

Tease photo

Vinny Smith’s Investment Picks

FINANCE: Top VCer points to potential winners

Did Vinny Smith catch a 75-bagger with his early investment in Alteryx Inc.?

Tease photo

Fauad Hasan

Previously led Allergan biologics making … co-founded neurotoxin developer 2015 … drug candidate Botox-like … aesthetic, therapeutic use, incl. pain relief … ‘proper healing without muscle atrophy’ … had raised $36M backing by time AGN paid $195M, Sept. 2018 for Bonti … first job: cafeteria cashier at San Jose HS … first car: Pontiac J2000 … would meet Lincoln, Mandela (see Tarek Salaway)

Tease photo

Tuesday, July 30

JD Power Sold

Costa Mesa consumer data company J.D. Power was bought by private equity investor Thoma Bravo, in Chicago, on undisclosed terms.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% at 3,011.02 during midday trading.

Tease photo

New CEO at New Home Co.

Larry Webb, co-founder and chief executive of the New Home Co. Inc. (NYSE: NWHM), is transitioning to an executive chairman role at the Aliso Viejo builder at the end of August.

Tease photo

Del Taco Shares Down on Same Store Miss

Del Taco Restaurants Inc. (Nasdaq: TACO) shares fell 8% after reporting second quarter same store sales that missed analysts’ expectations.

Tease photo

Stoecker’s Aces

TECHNOLOGY: Newly minted billionaire has appetite for more

Dean Stoecker officially joined the billionaire ranks earlier this month.

Tease photo

John Hagestad

In partner-managing director triumvirate, William Thormalen, Geoffrey Stack (see entry) … apartments, industrial … 50M SF … Koll Co. vet … 2018 bought Boeing tower for industrial re-do … founded Sammis Co., 1975, precursor to Sares Co.; merged 1993, Regis Group … service: Orangewood, Sage Hill (see Gordon McNeill), Cystinosis, California Republic Bank

Tease photo

Monday, July 29

Nike May Sell Hurley: Reuters

Nike Inc. (NYSE: NKE), the world’s largest sportswear maker, is considering selling Costa Mesa-based Hurley International, Reuters said, citing unidentified people familiar with the matter.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.1% to 3,022.33 during midday trading.

Tease photo

Orange Curtain: Local Wealth Defies Global Dip

ECONOMY: 46 with $500M+; 25 Billionaires

Have you heard that it’s a tough time for the richest of the rich?

Tease photo

Adderton Loses Bid to Buy Boost

Peter Adderton, the founder of Irvine-based Boost Mobile, said he was unsuccessful in his attempt to acquire his old firm from Sprint Corp.

Tease photo

Cheryl Osborn

Leads one of top OC CRE tenantimprovement firms … $50M revenue … up a third in five years … 12th-largest OC women-owned business … launched at kitchen table, 2000 … Business Journal Women in Business honoree, 2014 … office, retail … clients include Greenlaw Partners (see Wil Smith), Irvine Co., UCI … CSULB bachelor’s, construction mgmt., interior architectural design … ‘I’m just a contractor; I build.’

Tease photo

Irvine Cove Home Trades for $13M

Seller Tied To Uniregistry Entity

An Irvine Cove home designed by noted architect Chris Light sold for $13 million to Fountain Valley mechanical contractor Pan-Pacific Mechanical President Cindy McMackin, and her husband, Chairman and Chief Executive Ronald McMackin, according to property records.

Linda Isle Listing Fetches $14M

Seller Also Offloaded Laguna Site for $32M

A Linda Isle home that was built in 2004 for a member of this week’s OC’s Wealthiest list just traded hands for $14 million, records indicate.

OC’s ‘Dronefather’ Partners With Uber

DEFENSE: $25 Million for new Karem Aircraft unit

Lake Forest’s Karem Aircraft Inc., an aerospace development firm that makes manned and unmanned rotorcraft vehicles mainly for the military is spinning off a venture to build an all-electric air taxi vehicle for Uber.

Youth Football League Scores More Partnerships

Under Armor The Latest Sponsor

South County Trojans Youth Football, the newest member of club-level Snoop Youth Football League, inked a three-year partnership with performance brand Under Armour Inc.

Chipotle Launches Bonus Program

Hourly Workers Offered Another Perk

Employees at Chipotle Mexican Grill Inc. (NYSE: CMG) restaurants can go home with some extra cash in their pockets.

Larger Trophy Room at Ad Agency’s New Home

Casanova//McCann Sets Up at the Hive

Casanova//McCann had a lot to celebrate the past month.

Beta Bionics Bets On Making Pancreas

Sets Up Manufacturing Facility in Irvine

Beta Bionics, which has a manufacturing facility and executive offices in Irvine, is aiming to develop and commercialize the world’s first fully automated bionic pancreas.

Cannalysis Finds Niche, Profits Testing Cannabis

Looking to Hire 30 Labs Technicians

Santa Ana-based Cannalysis has found a niche testing the recently unregulated industry of cannabis.

Tease photo

Award Praises Hoag For Stroke Treatment

Irvine Hospital Wins Kudos for Quick Responses

Hoag Hospital Irvine has won the American Heart Association/Stroke Association’s Gold Plus Quality Achievement Award.

Garden Grove Entertainment Complex Kicks Off

37,000-SF Project Includes New Theater

Construction has begun on a new 4.9-acre entertainment complex in Garden Grove, a project that will include the expansion and upgrade to the city’s 45-year-old 4 Star Movie Theater.

$56M Refinance For Laguna Hills Complex

Creative Office Project Now Full

San Diego-based Cruzan and financial partner Cigna Investments Management have refinanced a nearly 224,000-square-foot creative office complex they own in Laguna Hills.

Luxe Delivery Company Keeps Expanding

40,000-SF Lease For Consider It’s Delivered

A 40,000-square-foot lease recently signed in Irvine is the latest sign of growth for a niche delivery company.

UCI Team Develops Ultra-Fast Chip

6G Commercialization In Two Years?

University of California-Irvine scientists chasing the “Holy Grail” in high-speed wireless communications technology have moved a major step forward by developing silicon chips that are at least four times faster than the speed of the upcoming 5G wireless standard.

CalAmp Tells Transporters: Get With the Amazon Program

Adapt to Keep Freight Biz, CEO Burdiek Says

For Irvine-based CalAmp Corp. the advice to transport companies is this: get with Amazon’s technology requirements or risk losing business.

Tech Investment Here Robust, Report Says

$100M Quarterly Figure Reached Again

Technology investment is alive and thriving in Orange County, says commercial real estate services firm JLL.

Los Alamitos Park Goes for $128.5M

REAL ESTATE: Top price for industrial buys this year

A 17-building business park next to the Los Alamitos Race Course has traded hands for $128.5 million, in the priciest industrial transaction in Orange County this year.

Digital Map Finds Unified Directions After Sale

TECHNOLOGY: Developers get ahead of the curve

Digital Map Products Inc. of Irvine says it brings plenty of location technology expertise to its recently created, new private equity-backed owner LightBox, and benefits flow the other way, too.

Cadigan Pays $98M in Multifamily Deal

APARTMENTS: Santa Ana complex second-priciest sale

One of Orange County’s wealthiest apartment owners is going upscale.

OC LEADER BOARD

Pedego Rolls Over China Tariffs On Its Way to Vietnam and Taiwan

The company I co-founded, Pedego Electric Bikes, has seen firsthand the effects of U.S. tariffs on products imported from China.

OC's Wealthiest 2019

THE MONEY: The country’s wealthiest real estate owner. Heads Orange County’s dominant real estate company, with one of the largest portfolios of apartments and offices in California, among other notable holdings.

Real Estate Deals

Sales of offices, industrial buildings, retail space and apartments

Montadhar Peace School purchased an educational building from Kenneth Holt for $1.9 million, or $213 per square foot.

OCBJ Calendar

July 29-Aug. 7; Aug. 15, 2019

This week's business and other event listings.

Friday, July 26

Midday Stock Roundup

The S&P 500 rose 0.7% to 3,023.16 in midday trading.

Tease photo

Taco Bell Hires CEO

Yum Brands, Inc. (NYSE: YUM) appointed Mark King as the chief executive of its Taco Bell Division that is based in Irvine.

Tease photo

Thursday, July 25

Power Foods

Chipotle, Gains, Newbies Spark Restaurant Surge

The largest Orange County-based restaurants saw their best-ever year for cumulative sales in 2018, thanks to improving same-store sales, expansions, and one very high-profile relocation here.

Tease photo

$56M Laguna Hills Refi

San Diego-based Cruzan and financial partner Cigna Investments refinanced a 224,000-square-foot office complex in Laguna Hills for $56 million.

Tease photo

Garden Grove Gets Entertainment Layout

Construction has begun on Starlight Cinemas West Grove, a 29,000-square-foot movie theater, which will anchor a new entertainment complex in Garden Grove.

Tease photo

$126M Bionic Pancreas on the Way

Boston-based Beta Bionics, which has a 15,000-square-foot manufacturing facility in Irvine, closed out a Series B funding round this month with a second $63 million investment; the first came earlier this year.

Tease photo

BJ’s Revenue Up, Earnings Down

BJ’s Restaurants Inc. (Nasdaq: BJRI) in Huntington Beach reported net income of $14.2 million, down about 17%, on revenue of $301.1 million, up nearly 5%, in its second quarter, compared with the same period last year.

Tease photo

UCI Joins Yale, Others in Preparing Vets

University of California-Irvine will hold a week-long humanities ‘boot camp’ in August for 15 veterans of the armed forces preparing for college.

Tease photo

Tanya Thomas

20+ years at retail center … sales nearing $800 million, 16M visitors, 180+ retailers … $100M renov 2009, 50-year anniversary 2017 … ‘memorable customer experiences’ … Irvine Co.- owned layout … tighter brand ties to former Island Hotel, now Fashion Island Hotel … prior roles: 15 years, national mall owners: Mission Viejo, Santa Ana … bachelor’s, Principia College

Tease photo

Concordia Names Education Dean

Concordia University in Irvine named Kent Schlichtemeier dean of its school of education, effective July 1, to replace Deborah Mercier, who is retiring.

Tease photo

CalAmp’s Burdiek on “Amazon Effect”

Irvine-based CalAmp Corp. (Nasdaq: CAMP) said transport and logistics companies need to get on-board with how Amazon works or risk losing business.

Tease photo

Under Armour to Outfit Local Football League

Teams in South County Trojans Youth Football in Mission Viejo will get game and practice apparel and uniforms from Baltimore-based Under Armour Inc. (NYSE: UA).

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.6% to 3,003 in midday trading.

Tease photo

Team Researching 6G Chip

A University of California-Irvine team is working to develop a 6G communications chip.

Tease photo

Chipotle Adds Worker Bonuses

Chipotle Mexican Grill Inc. added a program for hourly employees to qualify for bonuses of up to an extra month of pay annually for workers who qualify.

Tease photo

Wednesday, July 24

JPMorgan Completes InstaMed Buy

JPMorgan Chase & Co. (NYSE: JPM) closed on its acquisition of InstaMed Inc., a company owned by Newport Beach private equity firm Carrick Capital Partners LLC.

Tease photo

OCBJ Insider

Burritos, Not Botox

Bill Ackman’s latest investment in an OC company is going much more smoothly than its predecessor.

Tease photo

Steven Shill

Co-founder, national leader, BDO healthcare industry group … 25 years’ experience—incl. 20 at BDO—public-, private-sector hospitals, facilities, insurance cos. … involved in aggregate $750M+ bond offerings … M&A … born in South Africa … First car: Mazda 323 … service includes Jewish Federation, CHOC Foundation, Providence Speech and Hearing … would meet Churchill

Tease photo

Midday Stock Roundup

The S&P 500 rose 0.2% in midday trading to 3,009.99.

Tease photo

Moorad Buys Portuguese Soccer Club

Newport Beach’s Jeff Moorad is getting back into sports ownership.

Tease photo

$1B-Valued Axonics On Growth Push

MEDICAL DEVICES: New lease doubles OC space

Medical device maker Axonics Modulation Technologies Inc., Orange County’s latest public company to reach $1 billion in valuation, isn’t just growing by stock price.

Tease photo

Manu Shah

Flooring, countertop, wall tile products distributor … emigrated from India, 1970 … co-founded firm 1975 with wife, Rika; business grew from her desire for PT work … Manu kept job as engineer at first … big break 1981 to provide granite for Vietnam Veterans Memorial, Washington, D.C. … multiple Business Journal honors … two-year sales up 31% to $1.1B … 370 employees … two Wharton School sons now in the business

Tease photo

Tuesday, July 23

Edwards Q2 Report Sends Shares Up

Irvine-based Edwards Lifesciences Corp. (NYSE: EW), the most valuable publicly traded company based in Orange County, reported second-quarter sales climbed higher-than-expected 15% on increasing demand for its transcatheter aortic valve replacements.

Tease photo

Chipotle Q2 Tops Analysts’ Expectations

Newport Beach’s Chipotle Mexican Grill Inc. (NYSE: CMG) reported second quarter revenue and adjusted profit that beat analysts’ consensus estimates.

Tease photo

Toshiba, AEG Extend Deal

Toshiba America Business Solutions Inc. in Irvine and sports entertainment company AEG are extending a partnership.

Tease photo

Great Park Developer to Issue $125M Debt

Five Point Holdings LLC plans to issue via two of its units $125 million in senior notes paying 7.875%.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.3% to 2,993.28 during midday trading.

Tease photo

Sushi Seller Sets IPO Terms

Irvine’s Kura Sushi USA, which operates 22 U.S. revolving sushi bar restaurants, has set the terms for what could be Orange County’s first initial public offering this year.

Tease photo

Synoptek’s Technology Offerings in Overdrive

SERVICES: $100M now; CEO Britt seeks more

Synoptek LLC looks poised to become Orange County’s next tech company with sales topping $100 million this year.

Tease photo

Geoffrey Stack

Portfolio value $2B massive Long Beach project … co-runs firm with William Thormalen, John Hagestad (see entry) … new JWA area apts., 520-unit The Royce … recently stepping back … supports Georgetown Hoyas b-ball … First job: ‘watering plants, Boething Treeland Nursey, 1953’ … community: South Coast Rep, UCI Merage Center … can’t miss: November 10th Association: USMC b-day group … bucket list: Antarctica

Tease photo

Monday, July 22

Glaukos Licenses Eye Care Tech

San Clemente-based Glaukos Corp. (NYSE: GKOS) licensed technology from Intratus Inc. in San Diego to develop and sell new eye care drugs.

Tease photo

BioLargo Gets USAF Work

Environmental engineering firm BioLargo Inc. (OTC BLGO) in Westminster said a unit won two subcontracts to provide air quality environmental engineering work for five United States Air Force bases in Texas and Arizona.

Tease photo

ShiftPixy Revenue, Losses Up

Irvine-based ShiftPixy Inc., (Nasdaq: PIXY), a tech-based temp agency for restaurants, said third-quarter revenue increased 53% to $14.3 million, compared to $9.4 million for the third quarter of fiscal 2018.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.3% to 2,985.23 during midday trading.

Tease photo

NB Bayview Marriott Sells for $78M

HOSPITALITY: Local buyer Clearview plans upgrades

The Newport Beach Marriott Bayview has been sold to a local investor, in the priciest hotel transaction seen in Orange County in nearly a year.

Tease photo

Patty Arvielo

2018 Business Journal Women in Business honoree … co-owns, -runs firm with husband, CEO Rick … 26th-largest nonbank U.S. mortgage lender, $8.5B in originations … $443M revenue, 800+ workers … competes with LoanDepot (see Tony Hsieh) … backs Big Brothers Big Sisters of OC … 2017 gave one ton of food to Second Harvest … first job: entering data, TransUnion

Tease photo

Philanthropy

The inaugural Siksha Foundation Celebration Dinner held on May 15 raised more than $600,000 for the Siksha Foundation.

OC LEADER BOARD

How We Built Pick Up Stix

Editor’s Note: 64-year-old Charlie Zhang and his wife, Ling, founded Pick Up Stix, which grew to a chain of 85 restaurants by the time it was sold in 2001 to TGI Friday’s.

Real Estate Deals

Sales of offices, industrial buildings, retail space and apartments

PKPG Investment Holdings LLC purchased a warehouse building from Scott I. Ravenhorst Commercial Property Trust for $2.6 million, or $214 per square foot.

OCBJ Calendar

July 22-31 2019; Aug. 15, 2019

This week's business and other event listings.

Beta Bionics Raises $63M

Series B Brings Total Funds to $137M

Beta Bionics, a medical device startup with substantial operations in Irvine that is looking to develop the world’s first autonomous bionic pancreas for those suffering from diabetes-related issues, closed its $63 million Series B round of funding.

OCTANe Accelerates Its Own Startup

OES Connects Companies With Capital Sources

Aliso Viejo-based OCTANe, best known for its role as a business accelerator for area technology and life science companies, has laid the groundwork for a new company—OCTANe Enterprise Solutions.

OC United Way Taps Cloud For Corporate Efforts

Links Employees To Volunteer Opportunities

Orange County United Way is tapping into the cloud to help corporations promote philanthropic efforts among its employees.

Water and Loan Work for Blue C

Long Beach Site Tapped for Smartwater

Blue C Advertising in Costa Mesa has been keeping busy in varied ways—helping more than 550 people stay hydrated, while also refreshing the look of a 20-year-old software company.

Game’s Not Over for Blizzard-Uniqlo Partnership

WoW, Overwatch Shirts for Sale

Irvine-based video game giant Blizzard Entertainment Inc. is heading back to the retail aisles with a familiar partner.

KushCo Seeks Nasdaq Listing

Reports Q3 Revenue More Than Triples to $41.5 Million

Cannabis paraphernalia supplier KushCo Holdings Inc., which supplies the containers, hardware, mouthpieces, bottles and cartridges used by companies in the marijuana business, is aiming to be on the big exchanges.

UCI Child Neurologist Given $15 Million Grant

Studying How Parental Signals Affect Infants Later in Life

The National Institute of Mental Health has granted a $15 million Silvio Conte Center Grant to Dr. Tallie Baram, a professor of pediatrics, neurology, and anatomy and neurobiology at the University of California-Irvine, for her research in early childhood psychiatric screening.

Prentiss Foundation Funds $1 Million for Psych Study

UCI 5-Year Research To Examine Lithium Use

The Elisabeth Severance Prentiss Foundation has donated $1 million to University of California-Irvine for a specific salivary lithium study in psychiatry.

KBS Plans Second Singapore Listing

3.4M SF of US Offices Back REIT

Newport Beach-based KBS Realty Partners expects to place an 11-property collection of offices into a new real estate investment trust whose shares will be traded on Singapore’s stock exchange.

Bixby Land Buys Outside State

857,000 SF of Industrial In Georgia, Texas

Newport Beach-based Bixby Land Co. is bulking up its industrial portfolio outside of California.

SchoolsFirst Gets OK for New Tustin HQ

Land Sale Complete; Will Hold 750 Workers

SchoolsFirst Federal Credit Union, the largest credit union in California, has been given the go-ahead to build a new corporate headquarters facility in Tustin, and expects a big hiring push as a result.

No Junk, No Jerks Allowed at Swappa

Gently-Used Tech Marketplace Opens

Swappa LLC, a Kansas City-based online marketplace for “gently used technology,” recently launched a local service in Orange County, one of the first outside its hometown, boasting a “no junk policy” to protect consumers.

Epson’s OC Move Comes With Growth Plans

Will Be No. 2 Employer in Los Alamitos

Printer and scanner manufacturer Epson America Inc. says it’s making room for a hefty increase in growth and employee numbers when the company’s headquarters moves from Long Beach to Orange County a year from now.

Veritone Gets New Radio Station User

AI Keeps Track Of Ad Spending

Costa Mesa-based Veritone Inc. says that Cox Media Group isn’t the only big-name broadcaster interested in the company’s artificial intelligence applications.

Bruxie Bids to Restart Growth

RESTAURANTS: Looking to double in size

A danger of doing well at one thing is doing well at one thing.

$97M Surf City Sale Includes Office Tower, Retail

REAL ESTATE: Ocean Plaza first in OC for Onni

Huntington Beach’s Ocean Plaza office and retail center has traded hands for $97.3 million, the second-largest commercial property sale of the year in Surf City.

William Lyon Homes Launches Financial Services Arm

HOMEBUILDING: Former Stearns CEO in charge

Newport Beach-based William Lyon Homes (NYSE: WLH) has launched a title insurance, settlement and mortgage agency in part through the acquisition of Irvine’s South Pacific Financial Corp.

Nékter Adds Catering, Grocery Sites

FOOD: Juice bar near $100M sales, 150 units

People may not always want to eat their fruits and veggies, but they’re increasingly drinking them.

Tease photo

E-Bike Industry Gets Dedicated Publication

MEDIA: 5th offering under motorcycle unit

The smell of tacos drifted in the air as a handful of people cruised around the parking lot at media company Bonnier Motorcycle Group’s Spectrum-area headquarters to test out various electric bikes.

Tease photo

Irvine Creative Office Development Proposed

REAL ESTATE: Gemdale’s first local project; 272,000 SF

A Pasadena-based real estate investor with financial backing from China has proposed building a pair of creative offices along Barranca Parkway in Irvine, across the street from the Tustin Legacy development.

Tease photo

Friday, July 19

Remediation Firm Adds Execs

American Technologies Inc. in Anaheim named several new executives.

Tease photo

Iteris Gets $3M

Santa Ana-based Iteris Inc. (Nasdaq: ITI) received $2.95 million, part of a five-year, $19.5 million contract to help build “intelligent transportation systems” for the Federal Highway Administration.

Tease photo

Overwatch League Expands Travel Plans

Blizzard Entertainment’s eSports league, based on its Overwatch franchise, will expand its travel schedule next year, its third season, to include two weekends of homebased gaming competitions each of its 20 teams in six countries.

Tease photo

NB Marriott Sells for $78M

Newport Beach Bayview Marriott was sold for $78 million, or about $307,000 per key for the 254-room property.

Tease photo

OC Unemployment Rate Rises to 3%

Orange County’s unadjusted jobless rate rose to 3% in June, up from a revised 2.4% in May and below the year-ago estimate of 3.2%, according to the state Employment Development Department.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.1% in midday trading to 2,997.27.

Tease photo

Thursday, July 18

SchoolsFirst Moves Ahead on New HQ

SchoolsFirst Federal Credit Union got the city of Tustin’s nod to build its new corporate headquarters.

Tease photo

Epson’s OC Move to Bring 600+

Epson America Inc.’s move of its headquarters from Long Beach to Los Alamitos next year will bring 600 workers to OC, the company said, with room to grow that to more than 700 over time.

Tease photo

UCI Prof Gets $15M Grant

University of California-Irvine professor of pediatrics, neurology, and anatomy Dr. Tallie Baram received a five-year, $15 million National Institutes of Health grant.

Tease photo

Bixby Buys Beyond Cali

Newport Beach-based Bixby Land Co. bought nearly 900,000 square feet of industrial space in Atlanta and Dallas on undisclosed terms.

Tease photo

Veritone Expands Radio Deals

Costa Mesa-based Veritone Inc. (Nasdaq: VERI) said it expects more broadcast clients of its artificial intelligence-based ad tracker.

Tease photo

Blizzard, Uniqlo Repeat Pact

Video game designer Blizzard Entertainment ain Irvine will produce another line of t-shirts for Japan-based apparel maker and retailer Uniqlo.

Tease photo

OCTANe Launches Family Office Effort

Aliso Viejo-based OCTANe is starting a new venture.

Tease photo

Hotel Development Up 89%

Current hotel development in Orange County is nearly double what it was last year, according to a new report.

Tease photo

Ellen S. Bancroft

25+ years M&A, IPO, VC, PE, finance … closed 70+ public, private co. buys, up to $1B; advised on 50 public offerings … Indiana U bachelors; Vandy Law … moved to Calif. from Mo., early ’90s for ‘short stay’ … 5 years, Rutan & Tucker; 8 years, Brobeck, Phleger … backs Big Brothers Big Sisters OC, UCI … Best Lawyers, America … past Business Journal Women in Business honoree

Tease photo

Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,983.98.

Tease photo

Goldman Sachs Completes United Capital Buy

Goldman Sachs Group Inc. (NYSE: GS) has completed its acquisition of Newport Beach-based United Capital Financial Partners Inc. for $750 million in cash.

Tease photo

Stearns Bankruptcy Kicks Off Brawl

FINANCE: PIMCO, Blackstone at odds

Stearns Holdings LLC, a one-time Santa Ana-based mortgage powerhouse, declared Chapter 11 bankruptcy last week.

Tease photo

Rick Muth

Family firm founded by dad, Pete, 1946 now one of largest SoCal concrete masonry makers; 175 workers at plants in five SoCal cities … worked there to earn money for first bike, p/t in HS, college, f/t, 1975 … daughters now at co. … 2018 co-wrote op-ed advocating changes to ‘deplorable … criminal justice system’ … wants ways offenders can ‘rejoin society as productive citizens’

Tease photo

Wednesday, July 17

Midday Stock Roundup

The S&P 500 declined 0.3% in midday trading to 2,994.32.

Tease photo

Walters to B. Riley Board

Former U.S. Congresswoman Mimi Walters has been named to the board of B. Riley Financial Inc.

Tease photo

Tuesday, July 16

WeWork Goes Big In Irvine Spectrum

COWORKING: Full-office lease at new development

WeWork Companies Inc. has struck a deal to lease all of a just-built office in the Irvine Spectrum, and will operate one of the largest coworking spots in the U.S. at the location.

Tease photo

John Tu

China-born; to U.S. 1972 … cook in uncle’s Chinese restaurant, apprentice welder, Germany, as youth … world’s largest consumer memory products maker … near $7B sales … diversifying lines: keyboard + mouse … headsets under HyperX gaming division; sponsors 30 online gaming teams … Tu plays with band JT & Friends … Business Journal OC’s Wealthiest; OC 50

Tease photo

Allied Universal Buys Phoenix Security Firm

Santa Ana-based security and facility services giant Allied Universal bought Phoenix-based Shetler Security Services on undisclosed terms.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.3% in midday trading at 3,004.47.

Tease photo

TI Contractors Up 11% to $1.3B

Tenant-improvement contractors’ sales last year grew 11% in Orange County to $1.3 billion in billings on 26 million square feet of work, according to Business Journal research.

Tease photo

PE Firm Buys Med Device Maker

Irvine-based Aspen Medical Products sold to New York-based private equity firm Cortec Group on undisclosed terms.

Tease photo

Ingram Still Buying

Ingram Micro closed on the purchase of Abbakan, a Paris-based cybersecurity services firm, on undisclosed terms.

Tease photo

OZ Heating Up in OC

One of Santa Ana’s first Opportunity Zone projects has begun, a 40,000-square-foot office building called First Harbor Plaza, by Diamond Bar developer Primior,

Tease photo

Monday, July 15

Ryan Hammer

Ex-PepsiCo exec tapped for QCD, 2017 … $1B unit of $7B Golden State Foods (see Mark Wetterau) … GSF brings meat, sauces, other foodstuffs to McDonald’s; QCD handles other clients: Starbucks, Chipotle (see Brian Niccol), Wendy’s … 17K deliveries weekly, 5.5K restaurants … 25% of GSF’s 6K workers … bachelor’s, Indiana; executive MBA, Colorado

Tease photo

Huntington Beach Office Sells for $97M

An 8.6-acre office and retail complex in Huntington Beach has sold for $97.3 million.

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.2% in midday trading to 3,009.08.

Tease photo

William Lyon Homes Buys Mortgage Banker

Newport Beach’s William Lyon Homes (NYSE: WLH) has bought South Pacific Financial Corp., a retail mortgage banking company based in Irvine.

Tease photo

Setting Sail

SPORTS: Moshayedi, Madden, Bissell and other OC execs see parallels in sailing, business endeavors

More than a dozen sailing teams from local yacht clubs and several prominent Orange County-based business executives are heading to Hawaii this week.

Tease photo

Julie Zimmerer

Business Journal Excellence in Entrepreneurship 2018 … launched personal service agency, 2007, after unable to find caretaker for dad … offers nonmedical help to elder community: meal prep, companionship, transportation … 200+ employees, 400+ caregivers … stays lithe in growing market via individual focus, adaptation: ‘have to be chameleons’ … revenue growing at $1M-a-year clip

Tease photo

Urban Decay Highlights ‘Unique’ Beauty

Singer Lizzo Among Five Celebs in Campaign

Newport Beach-based cosmetic company Urban Decay tapped a new breed of tastemakers for its latest campaign titled “Pretty Different.”

Tease photo

Christ Cathedral Wraps Up Renovations

DESIGN: From Crystal Cathedral to Catholic home

Orange County’s most iconic house of worship has designs on becoming one of the most famous structures in the Roman Catholic Church.

Tease photo

Office Is Where the Design Is

How WATG Draws Its Own Space

Dentists get cavities, developers buy houses; how do designers execute on their own plans—and spend their money?

A Leap Got Them Second Looks

Designing Couple on Restaurants, $23M Westin Long Beach Redraw

Conventional wisdom says “look before you leap.”

TI Firms’ Gangbuster Growth Curve Continues

$1.3B Billings; 11% Sales Jump; 26M SF of Work

There appears to be no shortage of work for Orange County’s tenant-improvement contractors. The local market heated up last year after a slower 2017.

OCBJ INSIDER

Blessings, and Jams

Glenn Stearns is an optimist—a fact made clear during an interview with our Peter J. Brennan—coming after his namesake mortgage lender filed for bankruptcy, an event that involves another notable OC finance firm, PIMCO (see his front-page story).

OC Executives Don’t See Late Year Recession

ECONOMY: CSUF survey shows confidence dipa

Orange County executives aren’t planning on a U.S. recession this year, according to the latest quarterly survey from California State University-Fullerton.

Tease photo

Irvine Revolving Sushi Chain Kura Plans IPO

RESTAURANTS: $57.5M offering, eyes 200+ spots

Kura Sushi USA Inc., an Irvine-based sushi restaurant chain that opened its first location at the city’s Diamond Jamboree shopping center in 2009, has its eyes on being the first Orange County restaurant company to go public in nearly four years.

Tease photo

Downtown Anaheim Rental Site Trades

REAL ESTATE: 314 units, goes for $20M

One of the largest apartment development sites in downtown Anaheim has traded hands at a healthy per-acre price.

Tease photo

What Tech Boom? UCI Professor Muted on OC

Regional Growth To Mirror National Average

A tech boom won’t be heard in Orange County anytime soon, and the region will probably settle into economic growth on par with the national average, says University of California-Irvine Economics Professor Amihai Glazer.

Tease photo

Ingram Micro Buys French Cybersecurity Firm

Abbakan Provides Network Protection Across France

Technology wholesale distributor Ingram Micro Inc. on July 3 said it had completed its purchase of French cybersecurity company Abbakan, as part of the Irvine-based company’s further expansion into Europe, the Middle East, and Africa.

Tease photo

Small Companies Need Cyber ‘Education’

Employees Are ‘Weakest Link’ in Protection

A company’s employees are the “weakest link” in protecting against cybersecurity breaches that need to be covered by insurance, according to Mike Grant, the director of Aliso Viejo-based Marsh & McLennan Agency’s technology practice group.

Tease photo

UCI Health Expands Near Honda Center

64,000-SF Lease At Samueli Offices

UCI Health is relocating some departments from its flagship facility in Orange to the Arena Corporate Center in Anaheim after striking a 64,000-square-foot lease.

Tease photo

TRI Pointe Group Getting New CFO

Co-Founder Grubbs To Step Down

Irvine-based TRI Pointe Group Inc. (NYSE: TPH), the largest homebuilder based in Orange County, is getting a new chief financial officer next year.

Tease photo

Primior Begins OZ Project in Santa Ana

40,000-SF, Mixed-Use Now Underway

One of the first opportunity zone projects in Santa Ana is underway, headed by Diamond Bar investment firm Primior.

Tease photo

Aspen Medical Products Gets New Owner

PE Cortec Buys Brace Maker from Irvine

Irvine-based Aspen Medical Products, a maker of braces for those with back, neck and spine issues, has a new owner.

Tease photo

Chao Center Event Raises $620,000 to Fight Cancer

3rd Annual Race Held At UCI

UCI’s Chao Family Comprehensive Cancer Center held its third annual “Anti-Cancer Challenge” last month, raising $620,000 for cancer research.

Tease photo

Allegro Eye Trials Show Positive Results

Novel Treatment Method Receives Clinical Praise

San Juan Capistrano-based Allegro Ophthalmics LLC is a privately held company looking to be the next big thing in the treatment of eye disease, with several drugs in clinical trial phases.

Tease photo

La Habra Gets Its First Trader Joe’s

Former Vons Site Being Reworked

Grocery chain Trader Joe’s is set to open a 15,000-square-foot location, taking over the former Vons in La Habra, at the intersection of Beach Boulevard and Imperial Highway.

Tease photo

Fountain Valley School Renamed, Rebranded

Coastline College Refreshes its Look

Fountain Valley’s Coastline Community College unveiled a new name—Coastline College—and look last month when it celebrated the school’s programs at its Innovation Expo.

Tease photo

Electric Vehicle Concept Puts Containers on Wheels

Few Details Disclosed For Company With China Ties

A secretive new transportation-focused tech company with domestic operations based here is looking to make its mark in the electric vehicle market.

Adventus Ventures Raises $3 Million

VC Money For Allevion, Pressao

Irvine-based VC firm Adventus Ventures, which focuses on medical technology companies, last week said it completed a $3 million Series A round of equity financing, led by Korea’s OnFace SDC, a technology investor focused on Internet of Things, artificial intelligence, and integrated systems.

$20M for Cameo Shores Cliffside Home

7,000 SF Down the Street From Portabello Estate

A contemporary-style home reminiscent of a Balinese resort has traded hands for $20 million.

Crystal Cove Sale Goes for $16.4M

10,000-SF Home Has 5 Beds, 6 Baths

Inside the exclusive enclave of Crystal Cove, a Spanish Revival-style mansion on Offshore sold for $16.4 million, just shy of its asking price of $16.9 million.

Calendar

July 15-24 2019

• Rise & Shine Breakfast (Orange County Young Professionals Network), Fountain Valley, 9 a.m., free, ocypn.com

Real Estate Deals

Sales of offices, industrial buildings, retail space and apartments

Bonaparte Liu purchased an office condominium from Ping Liu for $1.1 million, or $464 per square foot.

Office Style File Zillow Group Inc.

An Office With a View, Yoga, Kitchen

Zillow Group Inc. (Nasdaq: ZG) has about 380 employees in Orange County and not a single office at its three-floor, 63,000-square-foot space off Michelson Drive in Irvine.

Friday, July 12

Designers Redraw Two Westins

Vanrooy Design LLC in Santa Ana follows-up interior design work on a $23 million Westin Long Beach renovation with similar efforts for the Westin Las Vegas.

Tease photo

Coastline Renames, Rebrands

Coastline Community College in Fountain Valley changed name to Coastline College and introduced a new logo.

Tease photo

Urban Decay Sees Stars

A new marketing campaign from Newport Beach-based cosmetic maker Urban Decay taps participation by actors and singers including Joey King and Lizzo.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.2% in midday trading to 3,005.38.

Tease photo

Bean Counters

RETAIL: Philz, Urth Latest of 20 Java Options in Orange

The country may need a good 5-cent cigar, but what the county really needs—based on activity in the city of Orange—is more $5 cups of coffee.

Tease photo

Meryl Young

Fifth-largest OC by lawyer count… shares duties, Mike Flynn (see entry) … cochairs national securities litigation practice group … business, commercial litigation, M&A, securities … Calif. top- 30, top-female litigators, Daily Journal … bachelor’s, Barnard; JD, Columbia

Tease photo

Thursday, July 11

Midday Stock Roundup

The S&P 500 was down 0.1% to 2,990.92 in midday trading.

Tease photo

Smith-Backed True Drinks Changes Name

True Drinks Holdings Inc. of Costa Mesa changed its name to Charlie’s Holdings Inc. and received approval for a ticker symbol change from TRUU to CHUC as of July 3.

Tease photo

OC Insider

Newport, Newport

This week’s Insider was written a thousand miles north of the Business Journal’s headquarters, at the other big Newport along the West Coast: Newport, Ore.

Tease photo

Jeff Motske

Founded 1999 … now $3B AUM, 20K clients, 200+ workers in 10 offices … clients $200K+ in assets … baseball player, Vanguard U, 1980s … hires athletes: ‘discipline’ … president, booster club, Pacifica Christian H.S. (see David Bahnsen) … on Trilogy softball team with father, son … plays bridge … supports Anaheim Ducks (see Tim Ryan) … first car: 1975 Chevy Malibu

Tease photo

No Devil in Blizzard Christmas Details

Irvine’s Blizzard Entertainment Inc. is designing Diablo 4, according to a report in France’s Le Monde newspaper and subsequent chatter on several gaming sites.

Tease photo

Mitsubishi Markets 178K-SF HQ

Mitsubishi Motors is selling its Cypress headquarters as part of a planned move to Tennessee.

Tease photo

SeneGence Tops Women-Owned List

Beauty products distributor SeneGence International in Foothill Ranch topped the Business Journal’s ranking of women-owned businesses with more than $1 billion in companywide revenue last year.

Tease photo

Wednesday, July 10

Chapman Forecast: Housing Market Healthy

Chapman University data, countering conventional wisdom, suggests a healthy housing market in OC.

Tease photo

Iteris Closes $11M Acquisition

Iteris Inc. in Santa Ana closed its $10.7 million acquisition of Tampa, Fla.-based Albeck Gergen Inc. Key principals of the Florida traffic engineering firm could earn another $2.3 million from incentives over the next three years.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading to 2,996.43.

Tease photo

LoanDepot Bullish On Economy

MORTGAGES: To hire 1,300 companywide

While some executives fear a slowdown or worse, a recession, loanDepot LLC is going full steam ahead.

Tease photo

Hicham Semaan

Succeeded Grant Van Cleve (see entry) 2018 … CEO 18 years, QuickStart Intelligence … angel investor since … CSULB bachelor’s; UCI MBA … fluent in Arabic, Spanish … roots for Rams (see Andy Peykoff) … first job: Sears hardware dept. … charity, community: Holy Cross Church, youth coaching … can’t miss: annual family Christmas party … would like to meet Gandhi

Tease photo

Tuesday, July 9

Cloudvirga Adds to Exec Ranks

Irvine’s Cloudvirga, a fast-growing mortgage software company that has raised more than $77 million from investors since its 2016 founding, has hired Maria Moskver as chief legal and compliance officer.

Tease photo

Midday Stock Roundup

The S&P 500 was down less than 0.1% in midday trading at 2,974.37.

Tease photo

Blackstone’s Stearns Files BK

Santa Ana’s Stearns Holdings LLC, the country’s 20th-largest mortgage lender, filed for chapter 11 protection this morning in U.S. Bankruptcy Court in New York.

Tease photo

Monday, July 8

Happy Money Gets Happy Feet

FINANCE: OC fintech moving to Tustin’s Flight

A Costa Mesa personal finance company is growing by all metrics, making strides to become among the top fintech companies in Orange County, joining the likes of Irvine-based Acorns Advisers LLC.

Tease photo

Richard Reisman

30 years heading OC’s business news source … BMOC, local ‘community of business’ … annual events honoring finance, legal, women execs; family businesses, innovators, entrepreneurs … signature ‘remember to turn your cellphones back on’ … annual OC’s Wealthiest, OC 50—and this book … driven … 5-a-week C-suite lunches at Bistango, Andrei’s, Fleming’s … bachelor’s, Binghamton; MBA, UCLA; JD, GWU … first job: paperboy (see Rick Reiff)

Tease photo

Budget Blinds Franchiser Bought

Irvine-based Home Franchise Concepts was purchased by JM Family Enterprises Inc. in Deerfield, Fla., on undisclosed terms.

Tease photo

Allied Universal Unveils AI System for Security

SERVICES: Says Heliaus to predict potential problem areas

Allied Universal, the Santa Ana-based security guard giant positioning itself as a tech company, unveiled an artificial intelligence platform designed to improve safety and reduce risk by enhancing on-site guarding services.

Tease photo

Debby Morris

Business Journal CFO of the year 2018 … Blackstone-owned healthcare products, services … She joined 2013 … leads finance, analytics, sales … finance ‘in partnership with business’ … pioneered cloud-based, single database … backs ‘power of analytics’ to bring insight, visibility, decision making, profits … communication focus: honest, open, direct; engagement for engagement, relationship, results

Tease photo

Midday Stock Roundup

The S&P 500 was down 0.6% to 2,971.93 during midday trading.

Tease photo

Masimo’s SedLine Used in Baby Study

EEG Device Monitored Infant Surgeries

Irvine-based Masimo Corp., which makes patient monitoring devices, said a study found one of its products effectively monitored babies and toddlers undergoing surgeries.

Tease photo

The Museum of Weed

Weedmaps is opening its own “pop-up” museum next month in Hollywood.

OC’s Women-Owned Businesses See Revenue Rise 8.5%

53 Firms Say Sales Rose; Employee Count Falls

Orange County’s largest women-owned businesses are on a growth streak that, once again, bested the national performance of women-owned businesses.

PHILANTHROPY

About 150 golf enthusiasts teed off for Waymakers’ 36th annual Swing for Kids Charity Golf Tournament presented by John Jory Corp. on May 16 at Oak Creek Golf Club in Irvine.

Santa Ana Building Goes for $55M

REAL ESTATE: Airport area property is third to sell since May

A 216,864-square-foot Santa Ana office building has traded hands for about $55 million, marking one of the largest investment sales in Orange County this year.

Tease photo

Weedmaps New CEO Searching for Employees

SERVICES: Popular website has 50+ jobs

Weedmaps, which calls itself “the most widely used medical and recreational marijuana dispensary locator in the industry,” is searching for a few good employees.

Tease photo

Avid Bioservices Soars After Tumultuous Period

HEALTHCARE: Shares rise 40% after Q4 report

It turns out the reports of Avid Bioservices Inc.’s demise were an exaggeration.

Tease photo

OCBJ Calendar

July 8-17, 2019

This week's business and other event listings.

Real Estate Deals

Sales of offices, industrial buildings, retail space and apartments

Wei Li purchased an office building from Hamni Bank for $3 million, or $595 per square foot.

Blind Brothers Start Clothing Company

Brothers Bryan and Bradford Manning were each 7 years old when they were separately diagnosed with a disease that would eventually make them blind.

Tease photo

Eye Experts Meet at OCTANe Event

OC’s Hottest Industry Examines New Startups

Networking group OCTANe hosted its annual meeting for one of Orange County’s hottest industries: ophthalmology.

Tease photo

Hooray Agency Wins Contract With Advantego

Deal With Penny Stock ‘Intriguing Assignment’

Hooray Agency has won plenty of plaudits for its recent campaigns, such as new branding and merchandising logo for the U.S. Open Championship, which took place at Pebble Beach last month.

Tease photo

Mitsubishi Unveils ‘Small Batch’ Ads

‘Not for Everyone’ Image, Social Media

Cypress-based Mitsubishi Motors North America Inc. launched a new advertising strategy dubbed “Small Batch” under the leadership of newly minted Chief Marketing Officer and Vice President Kimberley Gardiner—weeks before the automaker said it would be packing its bags and relocating to Franklin, Tenn., a suburb of Nashville, by year-end (see separate story, page 5).

Tease photo

Hyundai Invites Consumers to AR Concert in Atlanta

Live Nation Show Includes Cardi B, Billie Eilish

Can’t make it to Atlanta to watch Billie Eilish, Cardi B or even The Coathangers on stage at the city’s annual Music Midtown festival this fall? Don’t fret.

Tease photo

Irvine’s Cryoport In Expansion Mode

Raises $59.8 Million In Stock Offering

High-flying Cryoport Inc. (Nasdaq: CYRX) has plans to expand its distribution—of which it is the largest transporter of biologically sensitive products—and hire new employees to do it.

Tease photo

Edwards Lifesciences Likes Medicare TAVR Rulings

Government Streamlines Rules For Costly Procedure

Irvine-based Edwards Lifesciences Corp. (NYSE: EW) said that it’s encouraged by recent streamlining of rules by the Centers for Medicare and Medicaid Services for the life-changing transcatheter aortic valve replacement, or TAVR, procedure for aortic stenosis.

Tease photo

Blizzard Reportedly Prepping Diablo 4

Irvine-based Blizzard Entertainment Inc., the maker of  “Overwatch” and “World of Warcraft,” is moving ahead with its eagerly awaited “Diablo 4” project, according to a flurry of reports spread by gamer-focused websites. But the company is staying mum.

Tease photo

ShiftPixy’s Woes Mount After Default Notices

Tries to Renegotiate While Revenue Rises

Irvine-based ShiftPixy Inc., (Nasdaq: PIXY), a tech-based scheduling agency that helps restaurant workers get part-time work, said it is defaulting on its convertible notes and is seeking renegotiation of the instruments.

Tease photo

CalAmp Q1 Earnings Excite Investors, Analysts

CEO Burdiek Cites ‘Positive Outlook’

Analysts are seeing positive signs in Irvine-based software and telematics maker CalAmp Corp.’s first-quarter earnings, which beat analysts’ estimates and sent its shares up 14% in the following trading session.

Tease photo

Mitsubishi Selling Cypress HQ

178,000-SF Building Is Second Largest in City

Mitsubishi Motors is selling its Cypress headquarters as part of its relocation to Tennessee.

Tease photo

Invesco Lists 2 Aliso Offices

169,315 SF Along Polaris Way

The local office of Dallas-based Invesco Real Estate is selling part of its office holdings in Aliso Viejo.

Tease photo

Santa Ana Apartment Development Sells for $101M

228-Unit Project Opening This Year

A 228-unit apartment project under construction in Santa Ana has sold for north of $100 million to a private investment firm.

Tease photo

OC LEADER BOARD

10 Questions Answered At Chapman’s Update Forecast

Chapman University’s Raymond Sfeir and I presented our 41st Economic and Business Review Update on June 19. People are always asking questions. So I summarized them here along with answers.

Tease photo

Friday, July 5

Midday Stock Roundup

The S&P 500 fell 0.2% in midday trading to 2,988.86.

Tease photo

Hope Grows

HEALTHCARE: $1B Earmarked for Irvine Cancer Center

City of Hope’s announcement of a planned $1 billion investment in a new cancer care center in Irvine, the largest and most ambitious healthcare development proposed for Orange County in over a decade, is a case study in adaptation.

Tease photo

Janie Tsao

With husband, Victor, big, quiet local givers … religious, charitable,scientific, literary, cultural, educational … Miven: portmanteau of sons’ names: ‘Michael’ + ‘Steven’ … invests private equity, VC, hedge funds, real estate, public securities … wealth by 2003 sale of Linksys homenetworking company to Cisco, $500M … couple met Tamkang U, Taipei … Business Journal OC’s Wealthiest

Tease photo

Wednesday, July 3

Midday Stock Roundup

The S&P 500 was up 0.6% in midday trading at 2,991.37.

Tease photo

Tuesday, July 2

Iran’s Loss is Orange County’s Gain

COMMUNITY: Persian execs explain their successes

It was 40 years ago that the Shah of Iran fell, replaced by a theocracy that resulted in millions leaving the country.

Tease photo

Rosemarie Smith

Started 1991 from rented cubicle … fullservice commercial furniture dealership … largest woman-owned contract interiors firm for Knoll, second-largest Knoll dealer globally … OC’s thirdlargest woman-owned business, $131M 2017, up 10% YOY … 170 workers, half OC … offices: Irvine HQ, L.A., San Diego, Seattle, Spokane … clients: eHarmony, Microsoft

Tease photo

Midday Stock Roundup

The S&P 500 was flat in midday trading at 2,964.45.

Tease photo

Astro Pak Outlasts Cold War, Flourishes

SERVICES: Finds niche cleaning precision components

Astro Pak Corp. is a byproduct of the 1950s Cold War between the U.S. and the U.S.S.R.

Tease photo

Ron Hasse

Leads dozen dalies, websites for parent Digital First ... since 2016 buy, Freedom Communications, stable includes OC Register ... local now has paywall … board: OC Business Council (see Lucy Dunn) … also state newspaper publisherstrade group … began in news business as circ. mgr., LA Daily News, 1990 … bachelor’s, CSUN

Tease photo

Monday, July 1

TRI Pointe CFO Grubbs to Retire

Irvine-based TRI Pointe Group Inc. (NYSE: TPH) said Monday its chief financial officer, Mike Grubbs, will step down at the start of next year.

Tease photo

Alteryx Culture Stays The Course Over Years

TECHNOLOGY: $6.8B with mantra: work hard, play hard

At Alteryx Inc. they throw parties—birthdays, company milestones, Halloween, and Christmas.

Tease photo

Midday Stock Roundup

The S&P 500 was up 0.5% in midday trading to 2,956.35.

Tease photo

Kurt Strasmann

Co-leads with Jeffrey Moore (see entry) … largest local brokerage … $7.6B+ sales and lease deals value annually … 350 workers, one-third brokers, two offices … wider SoCal oversight: industrial … dozen locations, incl. massive Inland Empire logistics market … wife, Cynthia, three kids

Tease photo

Home2 Suites Hotel Gets Loan, Starts Work

$15.5M in Financing; 1st in OC for BN Group

An extended-stay hotel proposed a few years ago has broken ground in Garden Grove, and could open next year after getting financing.

Prologis Pays $44M for Westminster Park

2nd Largest OC Deal This Year for Industrial Giant

Prologis Inc. is continuing to bet on Orange County.

What the Michelin Award-Winners Think

Chefs Delgado And Pangilinan on Recognition

I asked Chef Carlos Delgado, owner and chef at Taco Maria, if he was surprised by being awarded a Michelin star.

OC Finally Gets Its Michelin Stars

Costa Mesa’s Taco Maria, Hana Re Honored

Chefs dream of getting one. Patrons want to dine at one. The coveted thing they all worship: Michelin stars.

Voit’s Broker-Owned Model Adds to Company Culture

Camaraderie Over Ball Games, Happy Hours

Next week, the brokers and other staff members at Voit Real Estate Services will take a break from their regularly scheduled work day to head to the Laguna Cliffs Marriott Resort & Spa not for a real estate conference, but a companywide retreat.

Tease photo

What the Guide Missed

Mina, Marneuas, And Santana Star-Worthy

Now that Michelin has realized we have noteworthy restaurants in Orange County, they need to come back, correct some oversights and award stars to more OC restaurants.

Real Estate Deals

Sales of offices, industrial buildings, retail space and apartments

AmexDrug Corp. purchased a warehouse building from Tim and Amber Waddell for $2.4 million, or $149 per square foot.

Cylance a Bright Spot for BlackBerry

CYBERSECURITY: Irvine integration moving ahead

BlackBerry Ltd.’s Irvine-based Cylance division shines bright in the parent company’s latest earnings report.

Tease photo

Work That Has Meaning Drives Laura’s House

Domestic Abuse Nonprofit Aims for 3rd OC Store

Working with and supporting victims of domestic abuse on a daily basis can be emotionally draining for employees at Laura’s House.

Edwards Kicks Off Nearly $240M Campus Expansion

REAL ESTATE: Project will add 500,000 SF, jobs

Orange County’s largest publicly traded company now has the largest office development underway in the area around John Wayne Airport.

Tease photo

Windes Still Bending to its Roots in Irvine

ACCOUNTING: 93-year-old firm in expansion mode

John Di Carlo can’t testify under oath that the founders of Windes Inc. had company culture and employee engagement at the core of their thinking when they opened their accounting firm. It was 1926 and the managing partner hasn’t come across any old work papers with “people first” scrawled across them.

Tease photo

NBA’s Summer League in Vegas Run from Costa Mesa

SPORTS: Hall Pass preps 15th edition

With the closest team 40 miles away and Newport Coast’s Kobe Bryant retired, Orange County’s connection with the National Basketball Association these days isn’t obvious.

Tease photo

OCBJ Insider

Campus Plans

In early 2015, Broadcom co-founder Henry Samueli stood at a vacant lot at Irvine’s Great Park Neighborhoods, touting the company’s forthcoming campus on the site as a future hub of new technology, research and innovation in OC to a small crowd of media and city officials.

How OC’s Best Companies Are Ranked

The Business Journal’s Best Places to Work in Orange County trio of lists are the result of months of surveying workers and managers at local employers.

Allergan Plans $63B Sale to AbbVie

DRUGMAKERS: Irvine campus could see more change

Chicago-based AbbVie Inc. (NYSE: ABBV) plans to buy fellow pharmaceutical giant Allergan PLC (NYSE: AGN) for nearly $63 billion in cash and stock.

Mitsubishi Motors Driving to Tennessee

AUTOMOTIVE: 200 Cypress workers relocating

Mitsubishi Motors North America Inc. is relocating its headquarters from Cypress to Franklin, Tenn., a suburb of Nashville, the company said.

OCBJ Calendar

July 1-10, 2019

This week's business and other event listings.

$10.5M for Laguna Niguel Compound

Bear Brand Ranch Sits on 2 Acres, 9 Baths

The former Laguna Niguel home of Miss California and one-time publisher of Orange Coast Magazine Toni Kay Tuso-Faber and her husband, Bruce, traded hands for $10.5 million, a bit shy of its asking price of $10.9 million.

Crystal Cove Mansion Sells for $16.4M

2-Story Indoor Hoops And Racquetball Court

A four-story mansion inside the guard-gated community of Crystal Cove has sold for $16.4 million.

Retail Security Experts Discuss Theft, Phishing

Tilly’s Tech Chief Says Employee Education Key

More than 2,500 retail security executives gathered at the Anaheim Convention Center last month for the National Retail Federation’s annual NRF Protect conference, which included a keynote from Judy Smith, president of Smith & Co., whose crisis management work inspired the ABC series “Scandal.”

Karma Automotive Starts Design Unit

Provide Ideas to Makers Of Cars, Other Products

Luxury electric vehicle manufacturer Karma Automotive is ready to share the wealth.

Behr Paint Displays Newest Color Trends

Palette Includes 15 Colors For Homes, Offices

Behr Paint Co. has a few ideas­­—15 to be exact—for those looking to refresh their space with a new coat of paint.

Axonics Device Gets FDA Nod in MRI Use

Stock Price on Tear; Value Now Tops $1B

Irvine-based medical device maker Axonics Modulation Technologies Inc. (Nasdaq: AXNX) saw its market value top $1 billion in late June, after the FDA said it was safe for trial patients using its products to get full-body MRIs.

TAVR Maker JenaValve Reports More Funding

Almost $15M Raised; CEO Change This Year

Irvine-based JenaValve Technology Inc., which develops, manufactures, and markets transcatheter aortic heart valves and delivery systems, has raised $14.5 million in funding, regulatory filings indicate.

Eitan Group Sets Up Shop in Aliso Viejo

IV Infusion Treats Pain, Cancer, More

Israel-based Eitan Group, a provider of infusion therapy products designed to treat pain management using IVs and other methods, has opened a new U.S. headquarters office in Aliso Viejo.

Starboard Lists Newport Crossings Development Site

350 Units Proposed; Recent City Approval

Starboard Realty Partners in Newport Beach is looking for a buyer of the 350-unit Newport Crossings project proposed in its hometown.