Stories for February 2019

Thursday, February 28

VICA Opposes School Tax Measure

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.

Thousand Oaks Shopping Center Sells for $14.4 Million

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.

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BTI Studios Selects Chief Revenue Officer

BTI Studios has appointed Chris Carey as the company’s new chief revenue officer and managing director for the Americas.

CBRE Names Evans Managing Director of North L.A. Region

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.

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Wednesday, February 27

Valley Still an ‘Economic Hot Spot’

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.

Northridge Hospital Names Chief Medical Officer

Dr. Mark Dumais has accepted the position as chief medical officer at Northridge Hospital Medical Center effective March 11.

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CRC Reports Big Quarter

California Resources Corp. on Wednesday reported earnings that greatly exceeded expectations in the fourth quarter of 2018.

MannKind Reports Much Smaller Quarterly Loss

Shares of MannKind Corp. increased more than 6 percent Wednesday after the company announced its quarterly results Tuesday.

Tuesday, February 26

Four-Story Residential Complex Proposed in Sun Valley

Nonprofit developers Meta Housing Corp. and Western Community Housing have proposed an affordable housing development in Sun Valley.

Semtech’s LoRa on Display at Innovation World Cup

Semtech Corp. provided the long-range, low-power technology used by three companies recognized at the Innovation World Cup at MWC Barcelona this week.

Amgen Wins Court Decision for Cholesterol Drug Patents

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 Adds ‘Aquaman’ Exhibit

Warner Bros. Studio Tour Hollywood will feature a new exhibit based on the movie “Aquaman,” the company announced Monday.

Monday, February 25

New Senior Development Proposed in Sherman Oaks

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.

Cheesecake Factory Debuts Pan-Asian Restaurant in Westlake Village

Social Monk Asian Kitchen, a fast-casual Asian restaurant, opened its first location today in Westlake Village.

Palmdale Plant Produces 500th Fuselage for F-35 Fighter Jet

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.

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Friday, February 22

Antelope Valley Housing Supply to Meet Demand, Speaker Says

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.

West Hills Gated Community Opens With Energy Efficient Houses

Watt Communities and Presidio Residential Capital have announced that sales are open at New Heights, a $25 million gated community in West Hills.

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Valley Presbyterian Welcomes New Board Members

Robert Myrtle, Ellen Riley and Beth Zachary have joined the board of directors at Valley Presbyterian Hospital in Van Nuys.

BlackLine Hires Chief Technology Officer

Peter Hirsch has joined BlackLine Inc. as chief technology officer.

Thursday, February 21

Dine Brand Shares Rise 12 Percent on Revenue Growth

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 Co-Sponsors Digital Lab in London

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.

B. Riley Subsidiary to Handle Liquidation for Payless Shoes

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.

Chick-fil-A Restaurant Opens in Simi Valley

A Chick-fil-A restaurant opened at 2460 Sycamore Drive in Simi Valley on Thursday.

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Wednesday, February 20

Princess Cruises Launches First International Advertising Campaign

Princess Cruises launched its first advertising campaign written and produced specifically for Asia and emerging markets on Wednesday.

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Marcus & Millichap Division Expands to Edmonton

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 Slumps on Secondary Offering Announcement

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 Names New Community Development Director

Moorpark has named Karen Vaughn as the city’s new community development director, effective Feb. 25.

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Samsung Store to Open at Americana

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.

Tutor Perini Wins $1.4 Billion Contract for Purple Line Extension

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

Nearly 150 Apartments to Rise Across From CSUN

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.

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Payless to Close 2,100 Stores, Including 18 in Valley region.

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 to Close in Camarillo With 99 Jobs Lost

Deckers Outdoor Corp. will close its Camarillo distribution center this summer, resulting in layoffs for 99 employees.

Ranch Hands A-Plenty

Labor availability attracts tenants to newly built warehouses in Tejon.

Kern County becoming distribution center.

Please Sen. Hertzberg, Kill PAGA

The California Posse Comitatus Act of 1872, a law straight out of the Wild West, could soon be no more.

A Business Isn’t a Babysitter

Are two of our Los Angeles city councilmembers trying to chase businesses out of the city?

Around The Valleys

News and notes from the greater San Fernando Valley

Salute the Kernel

Agoura Hills shop expands the colors, aromas and tastes of popcorn.

What’s popping at Popped Fresh.

MGA Campus Could Redesign Chatsworth

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.

Caruso Creates Traffic for Lunar New Year

RETAIL: Dance teams and Asian cuisine draw a crowd in Glendale.

Caruso celebrates the Lunar New Year.

Niches of the Number Crunchers

Special Report: Accounting

Accountants see change in their industry.

Marriage Dissolution Forensics

Special Report: Accounting

Accountants see change in their industry.

Entertainment

Special Report: Accounting

Accountants see change in their industry.

Real Estate & Construction

Special Report: Accounting

Accountants see change in their industry.

Mergers & Acquisitions

Special Report: Accounting

Accountants see change in their industry.

CVS Excludes Amgen Drug From Migraine List

DISTRIBUTION: Store chain includes competitors from Eli Lilly and Teva.

CVS leaves Amgen’s Aimovig off preferred migraine drug list.

Virtual Reality Helps Universal Sell Movie Tickets

Technology: ‘Jurassic’ campaigns show promise, but not for every film.

Universal Studios executives discuss virtual reality campaigns.

Latino Power Tracker

David Hayes-Bautista teams with California Lutheran University to tell an economic success story.

David Hayes-Bautista of Latino Gross Domestic Product Project.

Decision to Delist

Interlink Electronics Chief Executive Steven Bronson talks about removing the company’s stock from the Nasdaq.

Steve Bronson of Interlink Electronics Inc.

At CRC, Cash Limited Despite Higher Oil Prices

ENERGY: Analyst predicts upward production trend at California Resources.

California Resources Corp. looking for more acquisitions.

Board Retreat Basics

NUTRITION: Management at Lief Organics takes time out to assess market and industry trends.

Lief Organics holds first corporate retreat.

The Number

A report from Calabasas-based brokerage Marcus & Millichap Inc. estimates the average rent for an apartment in Los Angeles is $2,350

Writer Turns Failed Ranch Into Tarzana

Burroughs’ real estate legacy celebrates its first 100 years.

It has been a century since Tarzana’s founding.

When Pentagon Needs Paperclips

DEFENSE: Moorpark contractor orders and ships sundry items.

‘Amazon for the Pentagon’ in Moorpark.

Conejo Venture Fund Seeks Life Science Startups

BIOTECH: $320 million looking to tackle ‘untapped market.’

Venture fund begins hunt for life science firms.

Friday, February 15

Preview: Tejon Ranch Build-Out

Joint venture plans 580,000-square-foot spec warehouse.

Preview: Board Retreat Basics

Management at Lief Organics takes time out to assess market and industry trends.

Pepperdine Law Professor Named University's Next President

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.

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Bank of America to Lay Off 120 at Simi Valley Loan Center

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 to Close Warehouse, Cut More Than 200 Jobs

Wesco Aircraft Holdings Inc. is shutting down a distribution warehouse in Valencia, resulting in the elimination of more than 200 jobs.

Northridge Lumber Warehouse Sells for $4.5 Million

A Northridge industrial building has sold for $4.5 million.

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Cannabis Products Supplier Sera Labs Secures $5 Million Investment

Sera Labs Inc. has received a $5 million investment from the Canadian cannabis private equity fund ToroVerde Inc., according to the company.

BlackLine Beats Wall Street Expectations

BlackLine Inc. beat Wall Street estimates on revenue and adjusted earnings in the fourth quarter.

Wednesday, February 13

Sherman Oaks Podiatrist Arrested

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.

Production for Hourlong TV Series Increases

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.

Amgen Teams Up With San Diego Biotech

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.

Earnings Roundup: ASGN, NetSol, Cinedigm Report

ASGN gains, NetSol improves and Cinedigm meets Wall Street expectations.

Tuesday, February 12

Realty Firm Acquires Chatsworth Apartments for $15.2 Million

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.

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Developer Seeks to Build 432 Apartments in NoHo

A developer wants to build 432 apartments as part of a proposed residential and retail complex in North Hollywood.

West Hills Hospital Selects Chief Nursing Officer

West Hills Hospital & Medical Center has welcomed Janeen Gallego as its new chief nursing officer in January, according to the facility.

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Monday, February 11

Virgin Galactic Donates Rocket Engine to Smithsonian

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.

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LTC Enters $17 Million Buy-Leaseback Joint Venture

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 to Sell 7 Million Shares in Offering

PennyMac Mortgage Investment Trust plans to raise capital by 7 million of its shares, the company announced Monday.

Friday, February 8

Universal City Hotelier Buys Colorado Marriotts

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.

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Economic Breakfast Sees 'Uncharted Territory' Ahead

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.

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Sienna’s Hair Removal Treatment Shows Promise in Study

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.

Capstone Falls After Quarterly Report

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

Forecast: National Economy, Local Real Estate Stay Strong

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.

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Casamba Partners on Remote Patient Monitoring Ahead of Medicare Change

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.

Retail Broker Kyle Fishburn Joins Kennedy Wilson

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 Opens in Canyon Country

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.

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Topix Acquires Newbury Park Skincare Company

National skincare products manufacturer Topix has acquired ClarityRx for an undisclosed price, the company announced Wednesday.

Open Letter Asks for Change at Tix Corp.

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 to Launch NoHo Store in April

Burlington is preparing to launch a store at the Valley Plaza Shopping Center in North Hollywood this April.

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Tuesday, February 5

Disney Beats Estimates as Start to 'Transformative Year'

Walt Disney Co. beat Wall Street estimates on earnings and revenue in the fiscal first quarter.

Hixme Insurance Names New CEO

Hixme Insurance Solutions Inc., an Agoura Hills company specializing in health insurance software technology, has appointed Rodney Gibson as its new chief executive.

Teledyne Closes Roper Acquisition

Teledyne Technologies Inc. closed on Tuesday its acquisition of the scientific imaging businesses of Roper Technologies Inc.

Conejo Chamber to Honor Mustang Marketing, Express Pro

The Greater Conejo Valley Chamber of Commerce has announced the recipients of its annual Recognition Awards.

Monday, February 4

Limoneira Buys Argentina Acreage

Limoneira Co., a citrus growing and marketing company in Santa Paula, has entered into an agreement to buy orchards in Argentina.

Former Farmers Insurance Building in Simi Valley Ready for Mixed-use Makeover

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.

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Tarzana Corner to Host Creative Office Campus

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.

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How to Stop Housing Construction

Will linkage fees curb Warner Center development?

New CEO, Same Strategy at Teledyne

TECHNOLOGY: Management targets acquisitions ‘to reduce volatility.’

Teledyne outlines acquisition strategy.

A Steakhouse Selling Meat By the Ounce

Restaurant adapts a fast-casual format to stuffy sector.

Relaxed approach to serving steak.

Fun Country Sounds From Simi Valley

Nonprofit broadcaster tailors ad campaigns to local businesses.

Nonprofit, business-friendly radio station.

Web Tutoring: A Smart Deal

EDUCATION: VC-backed firm buys Veritas Prep in Calabasas.

Missouri firm buys Veritas Prep in Calabasas.

Avery Develops Bluetooth Tags

TECHNOLOGY: Israeli investment promises low-cost solution.

Avery Dennison invests in Bluetooth tags.

Is Amgen a Different Company?

Amgen Inc. hit a rough patch last week.

Around The Valleys

News and notes from the greater San Fernando Valley

Meet Marcus & Millichap’s Multifamily Closer

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.

Resort-like lifestyle

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.

Nursing Home Econ

SPECIAL REPORT: REAL ESTATE QUARTERLY

HOUSING: Boomers want assisted living rather than medical care properties.

East Valley Still Outperforms in Office Market

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

Real Estate Quarterly

SPECIAL REPORT: REAL ESTATE QUARTERLY

Vacancy in the Valley office market moved higher to 12.7 percent

Xytech’s Innovation System Works for 30 Years

MANAGEMENT: To evolve with Hollywood, firm thinks 36 months ahead.

Xytech systemizes innovation.

High Rents Prompt Relocation for Horror Store

LOCATION: Magnolia Park continues search to solve lease escalations.

Campaign continues to save Magnolia Park.

Buddhist Builder

Bart Mendel divides his time between managing construction projects and teaching meditation.

Bart Mendel blends business and Buddhism.

Ice Rink Revival

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.

BID Supporters Respond to Homeless Study

LIST: Business districts have taken positive steps to address the issue.

BIDs deal with homelessness.

Friday, February 1

CVS Excludes Amgen's Aimovig From Migraine Drug List

CVS Health Corp. has excluded Amgen Inc.’s drug Aimovig from its list of preferred treatments for migraine.

Helmet House Names Director of Products

Calabasas-based Helmet House has promoted Spencer Lee to director of products, apparel and accessories.

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Blumenfield Moves to Ban Digital Advertising on Cars

Los Angeles City Councilman Bob Blumenfield has introduced a motion to ban digital billboards from the tops of personal vehicles.

Preview: Avery Develops Bluetooth Tags

Israeli investment promises low-cost solution.

Preview: Ice Rink Revival

L.A. Kings strike deals to build, reposition Valley facilities.