OCBJ Weekly Edition | Orange County Business Journal

OCBJ INSIDER

Nixon’s Plumber Friend

Are the warmer inland temperatures of Brea the reason the city’s become the HVAC capital of Southern California?

Tilly’s Customers Returning to Stores

RETAIL: Online still strong; shares up triple

First quarter net sales reach $163.2 million, an 11% increase from last year as retail environments improve

Service Champions’ Gold Service

‘World’s Friendliest Technicians’ Push Brea Firm Towards $500M Mark and Beyond

Success attributed to personable technicians and quality service, hopes for annual sales to reach $1 billion

REIT Builds Laguna Hills Office Cluster

REAL ESTATE: $175M of buys near hospital

Healthcare Realty Trust’s investment spree around MemorialCare’s Saddleback Medical Center has now topped $175 million, following its fourth deal in a year and a half in the vicinity of Orange County’s ninth largest hospital

Gander Group’s Casino Work Returns Big Wins

RETAIL: $60M in sales; big-name partner brands

Brands such as Vanessa Williams, Guy Fieri and more were added the Gander Group portfolio during the pandemic

Prjkt Builds a Beach Empire in Surf City

RESTAURANTS: 4 spots added to waterfront collection

Huntington Beach House opens this month while a collection of other beachside locations will begin public operations soon

Edwards Gets Boost To Critical Care Unit

HEALTHCARE: Market cap hits all-time high

New predictive technology grades a patient's likelihood to develop low hypotension and is expected to launch in the fourth quarter

SAP Reopens Newport Beach Office, Adding Second Site

Software Firm Employee Count Reaches 330 in OC

Original office opening delayed by pandemic, currently planned for summer opening based on employee demand and health regulations

Chipmaker Mobix Preps To Ship First Product

Syntiant’s Busch, Octane’s Carpou Added to Board

Mobix Labs products will contribute towards the next generation of 5G wireless products that are expected to revolutionize communications

Masimo Strikes Deal To Expand Irvine Base

REAL ESTATE: Takes over facility next to HQ

Company revenue jumped 11% in the first quarter of 2021, market capitalization has almost doubled since the start of the pandemic

Kingston Steps Up Commitment to PC Gaming

TECHNOLOGY: New Fury line after HyperX sale to HP

Pandemic created huge boost to PC gaming and an increased demand for parts, such as Kingston's memory products

Del Taco HQ Campus Trades for $41M

Lake Forest’s Palm Terrace Trades at 35% Premium

Handful of Orange County offices have sold for more than $40 million in 2021 with a peak amount of $92 million

Largest Private Companies Report Modest Gains

ECONOMY: $78B for top 35 area businesses

The results of the coronavirus on Orange County’s biggest private companies are in: while many certainly did not thrive, most did not fall apart in 2020.

CommerceWest Gets New Irvine Base

Larger Space, Short Move Across 405 Freeway

New 25,000 square-foot headquarters will accommodate future growth as profits continue to rise

STARTUPS & INNOVATIONS

Eyedaptic Inc. of Laguna Hills unveiled the latest version of its vision-enhancing glasses this month

Vizio Talks Up New SmartCast Capabilities

Vizio Voice Runs App, TV Channel Searches

The adoption of voice-enabled technology on TVs is being talked up a storm

CMO Moves at Redline, Infinite Electronics

Parker’s Committee Nod; New Post for Campbell

A couple of Orange County chief marketing officers have some news to tout

Envista, Ex-Dental Unit of Danaher, Sees Progress

$7B Brea Co. Invests In Implants, Infection Prevention

Investment of $30 million planned for new implant and aligner technologies as dental industry bounces back from pandemic

Philanthropy

Families Forward exceeded its $100,000 fundraising goal for the Orange County Community Foundation’s “Help Them Home” campaign

OC LEADER BOARD

Practicing the Best Practices of the Hybrid Work Culture

None of us imagined at the beginning of the COVID-19 pandemic that some companies would continue to be working virtually over a year later.

Howard’s Plots Its Own Shopping Spree

RETAIL: Victorville buy; eyes out-of-state growth

As Howard's area expansion unfolds, it has also added more luxury consumer brands to its merchandise portfolio

OC LEADER BOARD: How the Office is Changing for the Better

OC LEADER BOARD

The pandemic has created forward thinking ideas to improve health and wellness of employees as seen with projects such as Innovation Office Park

BOARDWALK BACKERS

Pyle Family Vows to Restore Iconic Balboa Fun Zone’s Luster

Undisclosed upgrades and improvements in the works as Chartwell looks to bring in a mix of new businesses to Fun Zone area

Avengers Campus Saves the Day for Disneyland

TOURISM: 6-acre expansion highlights park’s reopening

Disney looking to change development agreements to further expansion opportunities for attractions, hotel rooms and dining

Acorns Grows Fast, To $2.2B Valuation

FINTECH: Going public through SPAC

Various membership tiers helps maintain more than 4 million subscribers, a number that Wall Street investors will consider

Western White House Back on Market; Asks $65M

Former Nixon Compound In San Clemente Relisted

Demand for luxury homes is quickly depleting limited inventory as buyers come from inside and outside of Orange County

Irvine Co. Development in Silicon Valley Finds Takers

Apple Tied to Sunnyvale Mega-Lease; 700K SF

Designed by Arquitectonica, Pathline Park features floor-to-ceiling glass and 20% of its 42-acre site is dedicated to open space

1,100-unit Apartment Project Moves Ahead in Santa Ana

Arrimus Sells Ex-Ricoh Site to Greystar for $73M

Current property buildings will be demolished to make way for residential project featuring 1,100 apartments and 80,000 square feet of commercial space

OCBJ INSIDER

Zero to Seventy

Acorns Grow expects to be valued at around $2.2B when it completes its reverse merger with SPAC Pioneer Merger Corp. and goes public later this year

Construction Firms: Steady Work Amid Unprecedented Year

Rising Costs Could Hinder Some Projects

Backlog of construction projects helped to buoy Orange County construction firms over the past year, though headwinds caused by the pandemic could still play out in future years

AbbVie’s Irvine Unit Acquires Soliton for $550M

AESTHETICS: Treats cellulite, tattoo removal

Acquisition comes just weeks after FDA clearance to treat cellulite with Resonic system, second acquisition since parent company sale last May

Office, Hotel Work Boosts Ranks of Developers

Industrial Project Backlog; Anaheim Mega-Sites Await

Property conversions becoming more common as developers find new ways to manage properties and focus on long term projects

Cloudvirga Sold To Stewart Title

TECHNOLOGY: Software firm keeping Irvine base

Reaffirmed position in Orange County brings more local hiring and focus on software service after acquisition

Mitsubishi Electric US Taps Corbo as CEO

1st non-Japanese in CEO role

Joined the firm in 1986, Corbo has worked his way up Mitsubishi Electric US over the years

Blizzard Pushes Back Fanfest Until 2022

BlizzCon in Anaheim Postponed for 2nd Year

Parent company Activision Blizzard saw a rise in shares of about 32% over the past year with a recent market cap of $75 billion

Surf City’s Corecon Streamlines Software for Construction Projects

TeamLink Portal Aids Planning for Builders

Corecon Technologies has revamped its software that helps contractors streamline information to construction project teams and remain cost-efficient

Renovation in Store for Back Bay Center

Space Investment Partners Adds New Tenants, Design

Local real estate firm Space Investment Partners said it plans to invest several million dollars in a redevelopment of Costa Mesa’s Back Bay Center, two years after acquiring it