OCBJ WEEKLY EDITION

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.”

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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.

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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.

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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.

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Blizzard Reportedly Prepping Diablo 4

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.

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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.

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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.

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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.

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