Costa Mesa, Business News
BUSINESS NEWS
Vaca Steakhouse to Expand with New Location in Downtown LA
News Summary Vaca, a celebrated Spanish steakhouse from Orange County, is set to open a new location in Downtown Los Angeles. Executive chef Amar Santana and co-owner Ahmed Labbate aim...
Employment Decline in Orange County’s Software Sector
News Summary Orange County’s software sector has seen a 4.3% decline in employment, dropping to 7,251 employees. While some companies like IBM maintain stability, others such as Blizzard Entertainment have...
Anduril Industries Expands Presence in Orange County
News Summary Anduril Industries has signed a lease for nearly 163,000 square feet at the Harbor Logistics Center in Santa Ana, marking one of the largest industrial transactions in Orange...
Blizzard Entertainment Faces Downsizing After Microsoft Acquisition
News Summary Blizzard Entertainment is experiencing significant workforce reductions following its acquisition by Microsoft. The company has seen its employee count drop to around 1,300, down from over 3,000. This...
Record Luxury Home Sales in Costa Mesa
News Summary Costa Mesa has experienced a remarkable surge in luxury home sales, with recent transactions breaking price records. A five-bedroom house sold for $5.5 million, while another property with...
Costa Mesa Celebrates Groundbreaking of Avon River Apartments
News Summary Costa Mesa has commenced construction on the Avon River Apartments, transforming a Travelodge into 76 permanent supportive housing units. This initiative is part of California’s Project Homekey, aimed...
Anduril Industries Expands with Major Lease in Santa Ana
News Summary Costa Mesa-based defense company Anduril Industries has signed a lease for nearly 162,000 square feet at the Harbor Logistics Center in Santa Ana. This marks the largest office...
City of Irvine Evaluates Sidewalk Accessibility with Daxbot Robots
News Summary The City of Irvine is launching a self-evaluation of its public facilities to enhance accessibility for individuals with disabilities. Supported by Bureau Veritas, Daxbot robots will assess over...
Southern California Faces Intense Heat Wave
News Summary Southern California is currently enduring a significant heat wave, making it the hottest period of the year. The surge in temperatures has led to increased beach attendance, particularly...
Finance
First Citizens Bank Acquires Newport Plaza for $32.7 Million
News Summary First Citizens Bank has successfully acquired the Newport Plaza building for $32.7 million in a significant real estate move within Orange County. The deal, finalized on August 8,...
Viant Technology Reports Second Quarter Earnings
News Summary Viant Technology Inc. announced a net income of $290,000 for the second quarter, equating to 2 cents per share, with adjusted earnings per share at 9 cents. This...
Finance DisruptiX Talent Solutions Expands to Orange County
News Summary Finance DisruptiX Talent Solutions has opened a new office in Orange County, California, led by industry veteran Jennifer McCasland. The firm aims to provide specialized accounting and finance...
Regency Centers Acquires Five Retail Centers for $357 Million
News Summary Regency Centers Corp. has successfully acquired five retail centers in South Orange County for $357 million, marking a significant milestone in the local real estate market. These centers,...
Horace Hertz Appointed Principal at FINANCE CAPATA
News Summary FINANCE CAPATA has appointed Horace Hertz as Principal to strengthen its financial solutions in Southern California. With over 40 years of experience, Hertz has held top positions in...
El Pollo Loco Reports Second-Quarter Earnings Amid Heat Wave
News Summary El Pollo Loco Holdings Inc. has announced a second-quarter net income of $7.1 million, showing resilience despite an ongoing heat wave in California. As temperatures soar, with forecasts...
Former Orange County Supervisor Sentenced for Bribery
News Summary Andrew Hoang Do, former Orange County Supervisor, has been sentenced to five years in federal prison for a bribery scheme diverting over $550,000 from COVID-19 relief funds intended...
Pacific Premier Bancorp Reports Q2 Profits Amid Merger Plans
News Summary Pacific Premier Bancorp Inc. has posted a Q2 profit of $32.1 million, exceeding Wall Street’s expectations but falling short on adjusted revenue. The company plans to restructure by...
First American Financial Corp. Reports Strong Q2 Earnings
News Summary First American Financial Corp. announced impressive financial results for the second quarter with a profit of $146.1 million, translating to $1.41 per share. Adjusted earnings rose to $1.53...
CONSTRUCTION
Anduril Industries Expands Presence in Orange County
News Summary Anduril Industries has signed a lease for nearly 163,000 square feet at the Harbor Logistics Center in Santa Ana, marking one of the largest industrial transactions in Orange...
Costa Mesa Celebrates Groundbreaking of Avon River Apartments
News Summary Costa Mesa has commenced construction on the Avon River Apartments, transforming a Travelodge into 76 permanent supportive housing units. This initiative is part of California’s Project Homekey, aimed...
LPA Design Studios Leads Architectural Growth in Orange County
News Summary LPA Design Studios has achieved remarkable growth of 20% in local billings, marking a total of $156 million. The firm has also been awarded the prestigious 2025 AIA...
Lowe’s Acquires Foundation Building Materials for $8.8 Billion
News Summary Lowe’s Companies Inc. has acquired Foundation Building Materials Inc. for $8.8 billion, enhancing its offerings to professional customers in the building products market. With a strong focus on...
Lowe’s to Acquire Foundation Building Materials for $8.8 Billion
News Summary Lowe’s Companies Inc. has announced its acquisition of Foundation Building Materials Inc. for $8.8 billion. This move aims to enhance its offerings to professional customers in both residential...
Lido House Hotel Appoints Rory Emslie as General Manager
News Summary Lido House hotel in Newport Beach has appointed Rory Emslie as its new general manager amid ongoing renovations. Emslie, who joined in 2021, has a strong background in...
UCI Students Collaborate on World War I Biplane Replica
News Summary A team of over 75 engineering students at the University of California, Irvine, is building a full-scale replica of the Curtiss JN-4 ‘Jenny’ biplane. This project, in partnership...
Mixed Outlook for Orange County’s Engineering Firms
News Summary Orange County’s engineering firms report stable billings at $1.3 billion, despite mixed results in staffing and project demand. While licensed engineers have decreased by 11%, overall employment has...
Safran Cabin Relocates U.S. Headquarters to Costa Mesa
News Summary Safran Cabin, a leader in commercial aircraft interiors, will move its U.S. headquarters from Huntington Beach to Costa Mesa by September 2. The new office at 1620 Sunflower...
Marketing
Costa Mesa Welcomes Serendipity Labs
News Summary Serendipity Labs, a provider of flexible office spaces, is opening its first Orange County location in Costa Mesa at the former WeWork site. With 39,000 square feet planned,...
Costa Mesa Business Owners Celebrate Major Sales Milestone
News Summary Cindie and Andre Nel of Minuteman Press in Costa Mesa have joined the President’s Club for exceeding $1 million in sales, marking a significant milestone as they commemorate...
Real Estate
Anduril Industries Expands Presence in Orange County
News Summary Anduril Industries has signed a lease for nearly 163,000 square feet at the Harbor Logistics Center in Santa Ana, marking one of the largest industrial transactions in Orange...
Record Luxury Home Sales in Costa Mesa
News Summary Costa Mesa has experienced a remarkable surge in luxury home sales, with recent transactions breaking price records. A five-bedroom house sold for $5.5 million, while another property with...
Costa Mesa Celebrates Groundbreaking of Avon River Apartments
News Summary Costa Mesa has commenced construction on the Avon River Apartments, transforming a Travelodge into 76 permanent supportive housing units. This initiative is part of California’s Project Homekey, aimed...
First Citizens Bank Acquires Newport Plaza for $32.7 Million
News Summary First Citizens Bank has successfully acquired the Newport Plaza building for $32.7 million in a significant real estate move within Orange County. The deal, finalized on August 8,...
Mixed Trends in Orange County Real Estate Market
News Summary Orange County’s real estate market shows mixed trends with median sales prices increasing in 66% of local zip codes. The median sales price across the county is $1.21...
Hyundai Secures Largest Lease Deal in Orange County
News Summary Hyundai has finalized a lease for 133,745 square feet at 2300 Main St. in Irvine, marking the largest lease deal in Orange County for 2025. The property, previously...
Luxury Real Estate Surges in Los Angeles After Wildfires
News Summary The luxury real estate market in Los Angeles and Orange County is booming following devastating wildfires that caused massive property damage. Many former residents are opting to buy...
Mixed Outlook for Orange County’s Engineering Firms
News Summary Orange County’s engineering firms report stable billings at $1.3 billion, despite mixed results in staffing and project demand. While licensed engineers have decreased by 11%, overall employment has...
Southern California Real Estate Market Sees Major Transactions
News Summary The Southern California real estate market is witnessing significant transactions, especially in multifamily and industrial sectors. Recent sales include a $43 million property in Santa Ana with 210...