Stories for February 2019
Thursday, February 28
The Valley Industry & Commerce Association has come out against a June ballot measure for a parcel tax to raise money for the Los Angeles Unified School District.
Los Angeles-based real estate investment company Agora Realty & Management has acquired the Thousand Oaks shopping center called Office Depot Plaza for $14.4 million from an undisclosed seller, according to a company announcement.
BTI Studios has appointed Chris Carey as the company’s new chief revenue officer and managing director for the Americas.
Chalvis Evans is managing director of CBRE Group Inc.’s North Los Angeles region, which includes offices in Glendale, Woodland Hills and Oxnard, the real estate brokerage announced Thursday.
Wednesday, February 27
The San Fernando Valley’s economy is expected to grow 4.1 percent this year – once again outpacing the rest of Los Angeles County, Ventura County and the state.
Dr. Mark Dumais has accepted the position as chief medical officer at Northridge Hospital Medical Center effective March 11.
California Resources Corp. on Wednesday reported earnings that greatly exceeded expectations in the fourth quarter of 2018.
Shares of MannKind Corp. increased more than 6 percent Wednesday after the company announced its quarterly results Tuesday.
Tuesday, February 26
Nonprofit developers Meta Housing Corp. and Western Community Housing have proposed an affordable housing development in Sun Valley.
Semtech Corp. provided the long-range, low-power technology used by three companies recognized at the Innovation World Cup at MWC Barcelona this week.
Thousand Oaks-based Amgen Inc. has won in court battle as the jury upheld two patents for its cholesterol-lowering drug Repatha.
Warner Bros. Studio Tour Hollywood will feature a new exhibit based on the movie “Aquaman,” the company announced Monday.
Monday, February 25
Nonprofit developer Mercy Housing has filed an application with Los Angeles Planning Department to construct 55 units of senior affordable housing at the Sherman Oaks address where a different developer had intended to create a 60-unit facility two years ago.
Social Monk Asian Kitchen, a fast-casual Asian restaurant, opened its first location today in Westlake Village.
Northrop Grumman Corp. produced its 500th center fuselage for the F-35 Lighting II jet fighter this week at its Palmdale manufacturing facility, the company announced Monday.
Friday, February 22
There is likely no bubble in the Antelope Valley residential housing market, a real estate broker told a crowd of about 250 people Friday morning at the Antelope Valley Board of Trade outlook conference.
Watt Communities and Presidio Residential Capital have announced that sales are open at New Heights, a $25 million gated community in West Hills.
Robert Myrtle, Ellen Riley and Beth Zachary have joined the board of directors at Valley Presbyterian Hospital in Van Nuys.
Peter Hirsch has joined BlackLine Inc. as chief technology officer.
Thursday, February 21
Dine Brands Global Inc., parent company of Applebee's Neighborhood Grill + Bar and IHOP restaurants, announced higher revenue for its fourth quarter and full year on Thursday, sending shares up more than 12 percent.
Semtech Corp. has joined as a sponsor of the Future Networks Innovation Lab in London that will promote the use of the Internet of Things.
Great American Group, a subsidiary of B. Riley Financial Inc. in Woodland Hills, will operate store closing sales at all Payless ShoeSource locations in the United States and Puerto Rico, the company announced Thursday.
A Chick-fil-A restaurant opened at 2460 Sycamore Drive in Simi Valley on Thursday.
Wednesday, February 20
Princess Cruises launched its first advertising campaign written and produced specifically for Asia and emerging markets on Wednesday.
Institutional Property Advisors, a division of Marcus & Millichap Inc. in Calabasas, announced Wednesday that Edmonton, Alberta-based multifamily investment advisory team Bradley Gingerich, Paul Chaput, Bradyn Arth and Jane Woertman have joined the firm.
Sienna Biopharmaceuticals Inc.’s announcement that it will conduct a secondary stock offering this week to raise $20 million sent shares down 18 percent on Wednesday.
Tuesday, February 19
Moorpark has named Karen Vaughn as the city’s new community development director, effective Feb. 25.
Samsung will open a new experiential retail location in the Americana at Brand shopping center in Glendale, one of only three in the United States.
A joint venture between Tutor Perini Corp. and O&G Industries Inc. has received a notice of intent to award a $1.4 billion contract for the construction on Metro’s Purple Line Extension in Westwood.
Monday, February 18
A multifamily mixed-use project featuring 146 apartment units and 2,000 square feet of ground-floor retail space is set to go up across the street from California State University – Northridge.
Payless ShoeSource is set to close 2,100 locations in the United States and Puerto Rico, including 18 stores in the greater Valley region.
Deckers Outdoor Corp. will close its Camarillo distribution center this summer, resulting in layoffs for 99 employees.
Labor availability attracts tenants to newly built warehouses in Tejon.
Kern County becoming distribution center.
The California Posse Comitatus Act of 1872, a law straight out of the Wild West, could soon be no more.
Are two of our Los Angeles city councilmembers trying to chase businesses out of the city?
Agoura Hills shop expands the colors, aromas and tastes of popcorn.
What’s popping at Popped Fresh.
Design firm works to transform Chatsworth.
From a civic center to corporate offices to an upcoming live/work campus in Van Nuys, Linespace has exerted a game-changing impact on Valley architecture.
RETAIL: Dance teams and Asian cuisine draw a crowd in Glendale.
Caruso celebrates the Lunar New Year.
DISTRIBUTION: Store chain includes competitors from Eli Lilly and Teva.
CVS leaves Amgen’s Aimovig off preferred migraine drug list.
Technology: ‘Jurassic’ campaigns show promise, but not for every film.
Universal Studios executives discuss virtual reality campaigns.
David Hayes-Bautista teams with California Lutheran University to tell an economic success story.
David Hayes-Bautista of Latino Gross Domestic Product Project.
Interlink Electronics Chief Executive Steven Bronson talks about removing the company’s stock from the Nasdaq.
Steve Bronson of Interlink Electronics Inc.
ENERGY: Analyst predicts upward production trend at California Resources.
California Resources Corp. looking for more acquisitions.
NUTRITION: Management at Lief Organics takes time out to assess market and industry trends.
Lief Organics holds first corporate retreat.
A report from Calabasas-based brokerage Marcus & Millichap Inc. estimates the average rent for an apartment in Los Angeles is $2,350
Burroughs’ real estate legacy celebrates its first 100 years.
It has been a century since Tarzana’s founding.
DEFENSE: Moorpark contractor orders and ships sundry items.
‘Amazon for the Pentagon’ in Moorpark.
BIOTECH: $320 million looking to tackle ‘untapped market.’
Venture fund begins hunt for life science firms.
Friday, February 15
Management at Lief Organics takes time out to assess market and industry trends.
Pepperdine University’s Board of Regents has named James Gash, an associate dean at the university’s law school, as its eighth president and chief executive, the Malibu university announced Friday.
Bank of America is laying off more than 120 employees from its home loan department in Simi Valley effective later this year.
Thursday, February 14
Wesco Aircraft Holdings Inc. is shutting down a distribution warehouse in Valencia, resulting in the elimination of more than 200 jobs.
A Northridge industrial building has sold for $4.5 million.
Sera Labs Inc. has received a $5 million investment from the Canadian cannabis private equity fund ToroVerde Inc., according to the company.
BlackLine Inc. beat Wall Street estimates on revenue and adjusted earnings in the fourth quarter.
Wednesday, February 13
Podiatrist Schlomo Schmuel of Sherman Oaks surrendered to the California Insurance Department on two felony counts of fraud after allegedly inflating bills, according to an announcement from the insurance department.
California is having one of its best seasons ever when it comes to production of one-hour television series, according to a new report from FilmL.A.
Thousand Oaks-based Amgen Inc. will collaborate with Abilita Bio, a privately held biotech company in San Diego focused on discovery and development of drugs targeting membrane proteins, according to a press release Wednesday.
ASGN gains, NetSol improves and Cinedigm meets Wall Street expectations.
Tuesday, February 12
Land Mark Realty & Property Management has acquired the Chatsworth Place apartments, totaling 64 units and split between 9919 DeSoto Ave. and 9947 De Soto Ave. in Chatsworth.
A developer wants to build 432 apartments as part of a proposed residential and retail complex in North Hollywood.
West Hills Hospital & Medical Center has welcomed Janeen Gallego as its new chief nursing officer in January, according to the facility.
Monday, February 11
Virgin Galactic and The Spaceship Co. have donated a hybrid rocket motor to the Smithsonian’s National Air and Space Museum in Washington, D.C.
LTC Properties Inc., a real estate investment trust specializing in senior housing and health care properties, has entered into a joint venture buy-leaseback relationship with English Meadows Senior Living Communities, based out of Virginia.
PennyMac Mortgage Investment Trust plans to raise capital by 7 million of its shares, the company announced Monday.
Friday, February 8
Sun Hill Properties Inc., the owner and operator of the Hilton Los Angeles/Universal City, announced this week that it has acquired two Colorado hotels.
Rotary Club of Thousand Oaks and California Lutheran University presented the 2019 Economic Outlook Forecast Breakfast on Friday at Cal Lutheran’s Sports Center in Thousand Oaks.
Sienna Biopharmaceuticals, a Westlake Village biotech company, announced positive results Friday for its topical pre-treatment to standard laser hair removal, referred to as SNA-001.
Shares of Capstone Turbine Inc. fell more than 13 percent Friday, the day after the company reported a wider net loss and a decrease in revenue for the fiscal third quarter.
Thursday, February 7
The economy may be showing signs of a slowdown, but the underlying fundamentals are strong. That was the takeaway from City National Bank’s Economic & Investment Forum, held Thursday at Four Seasons Westlake Village.
Casamba, a provider of electronic health record software in Agoura Hills, has partnered with MobileHelp Healthcare of Boca Raton, Fla., to offer home health agencies a platform for remote patient monitoring.
Commercial real estate agent Kyle Fishburn has joined Beverly Hills-based real estate company Kennedy Wilson Property Services.
Wednesday, February 6
Exer More Than Urgent Care opened its new location in Canyon Country on Wednesday morning, with Santa Clarita Councilman Bob Keller, 21st Senate District representative Kris Hough and Exer ER doctors and medical staff in attendance.
National skincare products manufacturer Topix has acquired ClarityRx for an undisclosed price, the company announced Wednesday.
The share price of Tix Corp. dropped by 12 percent Wednesday after an open letter from an investor advocated for new leadership on the Studio City company’s board of directors.
Burlington is preparing to launch a store at the Valley Plaza Shopping Center in North Hollywood this April.
Tuesday, February 5
Walt Disney Co. beat Wall Street estimates on earnings and revenue in the fiscal first quarter.
Hixme Insurance Solutions Inc., an Agoura Hills company specializing in health insurance software technology, has appointed Rodney Gibson as its new chief executive.
Teledyne Technologies Inc. closed on Tuesday its acquisition of the scientific imaging businesses of Roper Technologies Inc.
The Greater Conejo Valley Chamber of Commerce has announced the recipients of its annual Recognition Awards.
Monday, February 4
Limoneira Co., a citrus growing and marketing company in Santa Paula, has entered into an agreement to buy orchards in Argentina.
An Orange County developer will purchase the former headquarters of Farmers Insurance in Simi Valley with an eye toward razing the office building and redeveloping the site into a mixed-use development with housing and retail.
Cushman & Wakefield and Colliers International announced that 18362-18424 Oxnard St. in Tarzana is slated for redevelopment into a creative office campus with studio capabilities.
TECHNOLOGY: Management targets acquisitions ‘to reduce volatility.’
Teledyne outlines acquisition strategy.
Restaurant adapts a fast-casual format to stuffy sector.
Relaxed approach to serving steak.
Nonprofit broadcaster tailors ad campaigns to local businesses.
Nonprofit, business-friendly radio station.
EDUCATION: VC-backed firm buys Veritas Prep in Calabasas.
Missouri firm buys Veritas Prep in Calabasas.
TECHNOLOGY: Israeli investment promises low-cost solution.
Avery Dennison invests in Bluetooth tags.
INTERVIEW: In two years, Janette Monfared has sold $200 million in apartments.
Janette Monfared built her career as high-volume deal-closer for the sale of apartment buildings.
SPECIAL REPORT: SENIOR LIVING
Senior living – one of the most industrious and profitable sectors nationwide in commercial real estate – is getting healthier in the San Fernando Valley region, where year-round good weather can support plenty of amenities.
SPECIAL REPORT: REAL ESTATE QUARTERLY
HOUSING: Boomers want assisted living rather than medical care properties.
SPECIAL REPORT: REAL ESTATE QUARTERLY
According to brokers working the office and industrial real estate markets, 2018’s fourth quarter conveyed a bright picture, although office vacancy in the San Fernando Valley climbed to 12.7 percent from 11.3 percent the previous quarter
SPECIAL REPORT: REAL ESTATE QUARTERLY
Vacancy in the Valley office market moved higher to 12.7 percent
MANAGEMENT: To evolve with Hollywood, firm thinks 36 months ahead.
Xytech systemizes innovation.
LOCATION: Magnolia Park continues search to solve lease escalations.
Campaign continues to save Magnolia Park.
Bart Mendel divides his time between managing construction projects and teaching meditation.
Bart Mendel blends business and Buddhism.
L.A. Kings strike deals to build, reposition Valley facilities
With an acquisition in Burbank and a construction project in Reseda, the L.A. Kings take control of the ice.
LIST: Business districts have taken positive steps to address the issue.
BIDs deal with homelessness.
Friday, February 1
CVS Health Corp. has excluded Amgen Inc.’s drug Aimovig from its list of preferred treatments for migraine.
Calabasas-based Helmet House has promoted Spencer Lee to director of products, apparel and accessories.
Los Angeles City Councilman Bob Blumenfield has introduced a motion to ban digital billboards from the tops of personal vehicles.