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Thursday, Jun 13, 2024
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OCBJ INSIDER

The Sports Page

Arte Moreno’s about-face on plans to sell the Angels would appear to increase the odds of the ballclub staying put in Anaheim in the near-term, but OC is still about to lose ties to one pro sports team.

The Los Angeles Chargers in late 2021 announced plans to move into a new, nearly 150K-SF office and training facility in El Segundo, not far from SoFi Stadium, where it now plays its home games.

The El Segundo facility is on track to open in the spring of 2024, and last month the Chargers began marketing its current operational base in Costa Mesa for sublease. The team leased the OC spot at the Hive creative office campus in 2017, when it was in the process of moving from San Diego.

The team’s “Performance Center” is along Susan Street, across the street from the city’s Ikea and next to Anduril Industries’ massive new HQ. The center runs about 101K SF.

Along with offices, it counts 51K SF of “highly specialized sports” space, including meeting rooms, an auditorium, fitness center, wet rooms with cold tubs and hot tubs, locker rooms and a cafeteria, according to marketing materials from CBRE, which has the listing.

There’s also 160K SF of grass fields at the site, used by the team for practices.

Tenants can take over the spot as early as August 2024, with the sublease running until mid-2028, according to marketing materials.

OC brought some good vibes to the Sacramento Kings on Jan. 23, as the team started their home game by going 10-for-10 from 3-point land in their game against the Memphis Grizzlies.

The Kings, which won the game, went on to hit a dozen 3-pointers in the first quarter, tying an NBA record, according to the Elias Sports Bureau.

Among the courtside crowd at the sold-out game: the Business Journal’s Richard Reisman and Katie Murar, and Newport Beach’s Raj, Marta and Alex Bhathal. The Bhathal family counts extensive real estate holdings in Downtown Sacramento and has the second-largest ownership stake in the team, which owned the third-best record in the Western Conference as of last week.

Business Journal Editor at Large Rick Reiff calls Quang Pham—who previously headed Lake Forest-based pharmaceutical marketer Lathian and was a former local congressional candidate—a golf buddy.

Reiff appears not to be the only one with golf ties to Pham, whose Cadrenal Therapeutics (Nasdaq: CVKD) went public last month via a modestly sized IPO. See Peter J. Brennan’s story on page 9 for more.

Regulatory filings pertaining to the IPO indicate that large shareholders in the company include a foundation headed by pro golfer Jim Furyk and his wife, Tabitha. The Marine Corps Scholarship Foundation also counted a stake in the firm; Pham, a Gulf War vet, was a Marine helicopter pilot.

 

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Mark Mueller
Mark Mueller
Mark is the Editor-in-Chief of the Orange County Business Journal, one of the premier regional business newspapers in the country. He’s the fifth person to hold the editor’s position in the paper’s long history. He oversees a staff of about 15 people. The OCBJ is considered a must-read for area business executives. The print edition of the paper is the primary source of local news for most of the Business Journal’s subscribers, which includes most of OC’s major corporate and community players. Mark’s been with the paper since 2005, and long served as the real estate reporter for the paper, breaking hundreds of commercial and residential real estate stories. He took on the editor’s position in 2018.
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