OCBJ Weekly Edition | Orange County Business Journal

OCBJ INSIDER

New Drives

What’s ahead for Foothill Ranch’s loanDepot; Tesla's $800B plans to expand in Irvine; Irvine’s Rivian is nearing another funding round, valuing the company close to $25B

Home Design Studio Chain Interior Logic Plans IPO

REAL ESTATE: Serves top 20 builders in US

Irvine’s Interior Logic Group Holdings Inc. plans to build a much bigger national footprint

Kingston Goes Digital During CES Event

TECHNOLOGY: Gaming venue sponsorship renewed

Kingston Technology doesn’t just know how to make computer storage and memory products.

Tesla Sales Center in Works for Irvine

AUTOMOTIVE: Would be first spot in city

City planning and permitting documents indicate a Tesla sales facility is in the works for a 58,000-square-foot building fronting Jamboree Road in Irvine

Pacsun Keeps Its Cool

Alfred Chang Talks Retail, Fashion—and the Importance of Having a Voice for Brands

PacSun and its 43-year-old President Alfred Chang seem to have cracked the code, becoming one of the country’s largest “cool kid” brands

AI Amplified in OC; Alteryx, Veritone Partner

Costa Mesa Firm’s Stock Sees Resurgence

Veritone Inc. Chief Executive Chad Steelberg believes his artificial intelligence company’s recently announced partnership with Alteryx Inc. is a step towards making Orange County an AI powerhouse.

UCI Cybersecurity Group To Help Counter Threats

Cunningham Sees ‘Bleak’ Outlook as Dangers Mount

With cybersecurity taking on even greater prominence, the Cybersecurity Policy & Research Institute at the University of California, Irvine will be undertaking several initiatives to analyze and help counter increasingly dangerous computer threats.

High-Tech Injection For Allergan Marketing

Data Labs Unit Hiring; Loyalty Program Refresh

The digital marketing and analytics arm of Botox maker Allergan, whose Allergan Aesthetics division is based in Irvine, continues on its quest to apply a high-tech touch to reach customers, new and old.

Marque Luxury’s Shopping Spree Includes Blog Buy

Luxe Reseller Adds Closet Full of Cash

Irvine-based luxury reseller Marque Luxury ended its 2020 growth on a high note with the purchase of the blog Closet Full of Cash.

GardenWalk’s New Talk: Pod Hostel, Cat Café

SHOPPING CENTERS: Unique proposals for Anaheim mall

New plans are under consideration to revitalize portions of Anaheim’s GardenWalk, including accommodations that would serve a much different tourism base

Olen’s Southeast Rental Portfolio Now Tops $2B

REAL ESTATE: Charlotte push; office buy near Nashville

Olen Properties Corp.'s late-year acquisition spree in the Southeast pushed the value of the Newport Beach-based real estate investor’s growing apartment portfolio past $2B

LoanDepot Files To Go Public

MORTGAGES: Filing shows company on tear

Anthony Hsieh's Foothill Ranch-based loanDepot Inc. generated over $3B last year

Irvine Housing Developments See Strong 2020 Sales

Among Top 50 Master Planned Communities

Irvine Co.’s Irvine Ranch and FivePoint Holdings LLC’s Great Park Neighborhoods made the John Burns Real Estate Consulting list of the 50 most successful master-planned communities in 2020, ranked by sales

RSM, iHerb Among New Tenants at Spectrum Terrace

Second Batch Of Offices Completed

Irvine Co. said that it has wrapped construction on the second phase of its Spectrum Terrace office campus, which is currently 50% pre-leased following a pair of new deals.

Advanced Stays Local for Apartment Buying Binge

$350M in 2020 Buys; Westminster, Anaheim

Irvine’s Advanced Real Estate Services Inc. was among Southern California’s most active multifamily investors in 2020, and certainly the busiest buyer in the area in the closing months of the year.

STARTUPS & INNOVATIONS

The OC Health Care Agency has tapped Irvine-based software developer Composite Apps to manage and streamline its COVID-19 vaccine distribution.

Behavioral Health Works Expands Autism Services

On-Site Center For Children, Families

Behavioral Health Works this month opened its first on-site Autism Care & Support Center at its headquarters in Anaheim.

Now that Democrats Control Government, What Will Markets Do?

Earlier this year, investors anticipated a “Blue Wave” sweep and were betting on a major market decline to result.

Medical Office Sales End 2020 on High Note

REAL ESTATE: $80.6M for office near Saddleback

Orange County’s office investment market ended 2020 in good health, in particular for buildings focused on medical uses

Space Race

Richard Branson’s Space Tourism Co. Setting Up Base in Tustin

A billionaire-backed aerospace venture that aims to send wealthy tourists into space has touched down in Orange County.

AIVITA Biomedical Closes $25M Round

HEALTHCARE: Proceeds for vaccine trials; skincare line

AIVITA Biomedical Inc. is charging into the New Year with all cylinders firing.

Indie Semiconductor Aims Big With SPAC Listing

CHIPMAKERS: Auto-focused firm expects $1.4B valuation

Indie Semiconductor in Aliso Viejo plans to go public at a valuation of about $1.4 billion, as it seeks a larger piece of the growing automotive technology market.

STARTUPS & INNOVATIONS

Metronom Health of Laguna Hills raised a $22 million Series D round of financing last month, bringing its total funds to nearly $50 million since its 2010 inception.

Edwards Lifesciences Outlines Growth Plans in 2021

TAVR Rebound; R&D Investments to Continue

Edwards Lifesciences Corp., the highest valued publicly traded company based in Orange County, expects to leave behind the worst effects of the pandemic in 2021.

Chipotle Cuts the Carbs; Intros Item via Tweet

Cauliflower Rice Targets New, Infrequent Customers

“We have cilantro-lime cauliflower rice now.”

El Pollo Loco Has Fitness in Mind for ’21

‘Adios’ and ‘Sweatpants’ Commercials Hit Instagram

Chipotle is not the only one whipping its menu into shape for the new year, nor are they the only ones touting cilantro-lime cauliflower rice. Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) also has it now.

Philanthropy

Anaheim-based Credit Union of Southern California (CU SoCal) is donating $150,000 to more than 50 Southern California businesses and their employees, as well as two nonprofit organizations as part of its “Merry Givemas” event, held Dec. 18.

Restaurants Prep for a Make or Break Year

OC Restaurant Prez Assesses Dining Scene

Last year was one that most restaurateurs would like to forget—at least those still in business.

SocialEats Brings Quartet of New Concepts to OC

Ghost Kitchen Used in Anaheim

Optimism is still alive in the restaurant industry. What else but optimism—or a very wealthy business partner—would cause someone to open new restaurants in the midst of a pandemic?

Mutt Lynch’s ‘Sister’ Restaurant Preps to Open

Eastbluff Village Location Replaces Provenance

Mutt Lynch’s restaurant near the Newport Pier has been a fixture in the community for 45 years, so why have they not built on that success and taken Mutt to other areas?

Films, Food at Flight: Drive In, Dine Out

Mess Hall Market Showcases Movies

Last year, venues from the OC Fair & Event Center to shopping centers found ways to satisfy the demand for live events.

2020’s Legacy: The Virtual Luxury Market

FaceTime Closings; 3D Videos the Norm

Though the pandemic didn’t end up having a negative impact on luxury home sales pricing and volume in 2020, it certainly changed the way brokers handled business.

Charitable Gifts Highlighted In February Edition

Nearly $230M Reported in Prior Year’s List

Did you, your company or foundation give—or did your organization receive—a large cash or noncash gift in 2020?

OCBJ INSIDER

Scenes from a Riot

Rep. Lou Correa shares firsthand account of Capitol takeover; New ghost kitchen restaurants sets up in Anaheim; Irvine’s Fitness International LLC remains country’s largest health club

Evolus Faces Jeuveau Import Ban in Trade Dispute

AESTHETICS: Allergan gets boost; no trade secret

Newport Beach-based Evolus Inc. may face a 21-month import ban in the U.S. after ruling in case involving South Korean pharmaceutical companies and Irvine-based Allergan Aesthetics

Hear This: Syntiant Intros Next-Gen Chip

TECHNOLOGY: CEO expects ‘significant’ ’21 revenue

Irvine chip technology company Syntiant Corp. has added a second-generation AI processor, aims for a significant revenue increase in 2021

Slapfish’s Social Media Push Helps Restaurant Workers

DIGITAL: Chef Gruel’s GoFundMe aims for $1M

Huntington Beach-based Slapfish founder Andrew Gruel leverages social media to help restaurant industry — and to fill a void in what he’s called the absence of a functioning government