Biz News: Iconic Crab Cooker in Newport to close Sept. 2 for rebuilding

The Crab Cooker in Newport Beach will close Sept. 2 so it can be rebuilt on the same site following damage it sustained during the construction of a nearby condominium development, according to a news release.

The foundation of the seafood restaurant, in operation at 2200 Newport Blvd. since 1951, was damaged about four years ago while the Vue Newport complex was going up. News of the problem surfaced in November, when city officials said the Crab Cooker needed to be demolished and rebuilt. The damage was in the back of the structure, which dates to 1938.

“Unfortunately, after multiple meetings with the city, technical experts, studies and investigations, it became clear that repairing the existing structure was impossible,” restaurant operator Jim Wasko, son-in-law of Crab Cooker founder Bob Roubian, said in a statement. “We have worked tirelessly to ensure that the new building will pay homage to the past and maintain the same quirky look and feel as best we can — including keeping the ‘Don’t look up here’ sign, the benches out front and green awnings. And, of course, it will be painted red.”

Construction is expected to take just under a year. The Crab Cooker’s kitschy decor, including the clock facing Newport Boulevard, will be archived, cleaned and restored.

“It goes without saying that we remain dedicated to providing our customers with the world’s best seafood and intend to be back as soon as possible,” manager Jimmy Wasko, Jim Wasko’s son, said in a statement. “I’m the third generation to run this restaurant, and we aren’t going anywhere.”

The Crab Cooker in Tustin, at 17260 17th St., will remain open as the Newport location is built.

Ex-Montage chef to open own restaurant in Laguna

The former executive chef of the Studio restaurant at Laguna Beach’s Montage resort is opening his own restaurant.

Ocean at Main, at 222 Ocean Ave., plans a fall opening, according to its Facebook page. The site formerly contained the Taverna restaurant, which closed this year after a two-year run.

Ocean at Main’s menu will include flatbreads and vegetable dishes, according to the Facebook page.

Costa Mesa Acura dealership has new owner and new name

Costa Mesa-based Orange Coast Auto Group has acquired South Coast Acura in Costa Mesa for an undisclosed sum, the Orange County Business Journal reported.

The dealership at 2925 Harbor Blvd. has been renamed Orange Coast Acura.

Golden State Orthopaedics buys Costa Mesa building

Golden State Orthopaedics Inc., a distributor for hip, knee and shoulder replacement products, has acquired an industrial building of roughly 8,000 square feet in Costa Mesa.

The company bought the site at 3197 Red Hill Ave. for $2.44 million, according to a news release.

NuVision credit union opens second Costa Mesa branch

NuVision Federal Credit Union recently celebrated the opening of its second Costa Mesa branch.

The location is at 298 E. 17th St. The ceremony included a $1,000 donation to the Newport Harbor High School Foundation.

NuVision is based in Huntington Beach.

Newport investment firm has new top executive

The chief executive of Research Affiliates, a Newport Beach-based investment strategy firm, has stepped down, according to ThinkAdvisor.com.

Rob Arnott will remain as the company’s chairman and maintain other responsibilities. He is being replaced as CEO by Katrina Sherrerd, Research Affiliates’ president and chief operating officer.