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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
7,000 SF Down the Street From Portabello Estate
A contemporary-style home reminiscent of a Balinese resort has traded hands for $20 million.
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.
July 15-24 2019
• Rise & Shine Breakfast (Orange County Young Professionals Network), Fountain Valley, 9 a.m., free, ocypn.com
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.
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.
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.
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.
MORTGAGES: To hire 1,300 companywide
While some executives fear a slowdown or worse, a recession, loanDepot LLC is going full steam ahead.
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.
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.
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.
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.
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.
178,000-SF Building Is Second Largest in City
Mitsubishi Motors is selling its Cypress headquarters as part of its relocation to Tennessee.
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.
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.
French Employees Shown Latest Iteration of Popular GameIrvine-based Blizzard Entertainment Inc., the maker of “Overwatch” and “World of Warcraft,” is moving ahead with its eagerly awaited “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.
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.
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.
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.