Rising tide of recovery hasn’t lifted all boats—2.9% growth and half of all industries undergoing disruption can reduce the boost. One sector that’s enjoyed the ride is commercial real estate. Attending the recent CREW OC-SPIRE awards at Samueli Theater, I heard the energy 50 yards away. As one longtime apartment owner told me several months back, “Pete I’ve been doing this 50 years. “Best year ever. 99% occupancy, hardly any delinquencies.” I advised him not to tell anyone. Not Irish, not fatalist, you know …
There was no spiking the ball in Costa Mesa. There could have been a little flip. A lot of factors came together for OC CRE, but you have to execute. So many sharp, veteran, family-run to bred-in-the-purple brokers, investors, financiers, developers, architects playing in Orange County commercial real estate. Bring your A game. When Research Director Dana Truong gathered up the data, it confirmed what we’d been reporting since I arrived in June, what I’d been seeing and hearing the field. In the words of Eric Church, “Record Year.” Stories page 1, Special Report 19 to 40 …
LoanDepot unveiled its snazzy mello Innovation Lab in Irvine for its team of 450 technical brains behind the nation’s fifth-largest retail lender. Chief Technology Officer Dominick Marchetti gave Financial Editor Peter J. Brennan a personal tour of the 65,000-SF facility, taking him inside the command center that controls the website where millions of visitors are online at one time. When Marchetti was told that fintech AutoGravity, kitty-corner across a nearby intersection, also has a wide wooden staircase with a slide from second floor to first, Marchetti replied that the two companies also raid each other for talent …
IPO Bracket? Q1 IPOs list short one for OC, one: would-be Botox competitor Evolus (see startups, page 18). A few of us in the newsroom took a stab at which cos. might get us off the schneid. Fairly sure we’re clear of fiduciary obligations, so without rationale, because that could run afoul of some regs, I like security provider Allied Universal in Orange. Tourism Reporter Paul Hughes likes high-end hotel and resort operator Montage International in Irvine. Our market maven, Peter J. Brennan, favors the name atop 400 Spectrum, Cylance, fast-growing cybersecurity firm—which CEO do you think rings the bell this year? Let OCInsider know …
Influencer William Shatner. Does Kirk not look great at 87? And who needs Lilly Singh or Miranda Sings when you’ve got TJ Hooker singing your praises. Pedego Bikes’ Don DiCostanzo says it’s a handshake deal: bikes for boosterism. The Cap’n does love Pedegos. https://pedegoelectricbikes.com/customer-stories/william-shatner/
Inspiration Point … Go Ramblers. Go Sister Jean.
