SERVICES

Cash-Flush Urovant Grows at UCI Research Park

22,000-sq.-ft. Lease for Drug Company With 2018 IPO

Urovant Sciences Ltd., an Irvine-based clinical-stage biopharma company that started operations in 2016 and went public last September, is about to get a much larger home near the University of California-Irvine.

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Spectrum Pharma to Sell Drug Portfolio

Spectrum Pharmaceutical Inc. (Nasdaq: SPPI) said today it has sold its portfolio of seven FDA-approved hematology/oncology products to Acrotech Biopharma LLC for up to $300 million.

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Edwards, Boston Scientific Reach Deal

Shares of Edwards Lifesciences Corp. (NYSE: EW) climbed after the largest publicly traded company based in Orange County reached a settlement with rival Boston Scientific Corp. (NYSE: BSX).

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Taco Bell’s Williams to Stitch Fix Board

Stitch Fix Inc. named Liz Williams, president of Taco Bell International, to its board, noting her experience with branding and foreign markets.

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Del Taco Shares Up On 4Q Prelims

Shares in Lake Forest-based Del Taco Restaurants Inc. (Nasdaq: TACO) rose 6.4% after reporting fourth quarter preliminary results and issuing a 2019 forecast.

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Mo, Better Booze

Mo Honarkar could soon supplant Dane Eiler “the Greeter” Larsen as Laguna Beach’s best-known local after buying a stretch of city properties along Coast Highway, including the iconic Hotel Laguna (the Insider’s favorite wedding spot), which Honarkar vows to restore “to its former glory.”

Senior Housing Developers Pay $21M for IBC Site

DEVELOPMENT: SmartHome site eyed for congregate care

A Dallas-based developer of senior living properties has bought a 3-acre site along Barranca Parkway in Irvine, and plans to start construction later this year on one of the city’s largest and amenity-heavy residential complexes for older residents.

New Shows Tap Trends

Two new events at Anaheim Convention Center reflect efforts by area tourism marketers to play to the city’s strengths and bring larger or higher-dollar events to the venue.

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Pacifica Hotels Promotes President

Aliso Viejo-based Pacifica Hotels has promoted Adam Marquis to president, responsible for operations and development for its 41 owned, managed, or in-development properties in California, Florida, and Hawaii.

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Hotel Openings Down; Construction Up

Three hotels totaling 445 rooms opened in Orange County in 2018, down 54% from the 960 rooms at six hotels that opened in 2017, data from Irvine-based hotel broker-consultant Atlas Hospitality Group show.

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Bob’s the Builder

Olson Brings Hotel Glitz to NB, Irvine, Dana Point

It’s been a whirlwind period of growth for Bob Olson, who over a 10-year stretch has gone from Orange County’s biggest and best-known hotel developer, to the largest in Southern California, to the most prolific in the Golden State.

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HB Hotels Lead RevPAR Growth

Hotels in Huntington Beach reported by far the biggest jump in revenue per available room (RevPAR) in November, according to a report by CBRE Hotels in Los Angeles.

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HFC Buys 4th Franchiser

Home Franchise Concepts in Irvine on Jan. 1 bought AdvantaClean in Huntersville, N.C., on undisclosed term, its fourth home-improvement franchise system. It already owned Budget Blinds, Tailored Living and Concrete Craft.

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Air Traffic Down in November

John Wayne Airport passenger traffic declined about 5% year-over-year in November to 850,000. Year-to-date passenger totals are up about 3.3% to 9.8 million.

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Long Beach Airport Traffic Declines

Passenger traffic at Long Beach Airport declined 18% in October and 9% in November compared with the same months last year, to 270,000 and 293,000, respectively.

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