Stories for January 2019

Thursday, January 31

Glendale Senior Housing Project Receives $59.4 Million in Funding

A 113-bed assisted living and memory care facility in Glendale has received $59.4 million in debt and equity financing.

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VICA Office Closes After Lightning Strike

The Valley Industry & Commerce Association was closed Thursday when its building in Van Nuys lost all power.

Kaiser Permanente Appoints Area Manager

Murtaza Sanwari has been appointed senior vice president and area manager for Kaiser Permanente in Woodland Hills.

Galpin Ford Retains Title as No. 1 Dealership for Sales

Galpin Ford maintained its title of the No. 1 Ford dealership by sales volume in the world for the 29th year, parent company Galpin Motors announced Thursday.

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Wednesday, January 30

Valley Community Healthcare Gets Big Grant

Valley Community Healthcare has received a $300,000 grant from the W. M. Keck Foundation to hire new staff and improve patient care.

Avery Dennison, Mission Valley Bank Report Earnings

Avery Dennison beat Wall Street estimates on adjusted earnings while matching revenue in the fourth quarter.

Tuesday, January 29

Amgen Delivers Strong Fourth Quarter

Amgen Inc. announced fourth quarter results that beat Wall Street expectations on Tuesday.

NoHo Industrial Property Sells for $5 Million

A single-story, eight-unit industrial property at 7525 Ethel Ave. in North Hollywood has sold for $5.1 million.

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Shops at Symmetry Signs First Tenants

Seafood restaurant California Fish Grill and coffee shop Drnk/Qwench are the first two tenants at the Shops at Symmetry, a Northridge mall set to open in spring 2020.

New Executive Director at Mending Kids

Isabelle Fox has been named Mending Kids’ executive director as of Jan. 24 following seven years of experience with the nonprofit.

Machinima to Cut 81 Jobs

Online gaming platform Machinima Inc. is restructuring its operations in Burbank and laying off more than 80 employees.

Monday, January 28

Simi Valley Chamber Selects New CEO

Simi Valley Chamber of Commerce has selected Kathi Van Etten as the chamber’s new president and chief executive.

Josker Joins Colliers to Head Southwest Region

Real estate broker David Josker has left CBRE Group Inc. to join Colliers International Group Inc. as president of its Southwest Region.

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Asgn Pays $46 Million for Federal IT Contractor

Asgn Inc. has acquired an information technology and cloud computing company that serves the federal government.

Friday, January 25

Note to Readers: Tech Glitch Suspends Enewsletters

The San Fernando Valley Business Journal has experienced a technical problem that prevented sending its daily email newsletter for three days this week.

Gannett Lays Off Journalists at Ventura County Star

In a companywide move, Gannett has laid off dozens of employees nationwide, including four journalists at the media company’s local newspaper, Ventura County Star.

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Northstar Celebrates Opening of West Hills Senior Facility

Northstar Senior Living celebrated the grand opening of Fallbrook Glen of West Hills, an assisted living and memory care facility near the intersection of Fallbrook Avenue and Vanowen Street.

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Thursday, January 24

Interlink Electronics to Delist Stock on Nasdaq

Interlink Electronics Inc. plans to delist its stock from the Nasdaq and deregister its common stock.

Stratolaunch Scales Back Aircraft Development

Stratolaunch is ending it development of a new line of launch vehicles that includes a space plane to concentrate on the airplane it has built at the Mojave Air & Space Port.

Santa Clarita to Offer Commercial Construction Permit Guide Online

The city of Santa Clarita will soon offer a guide to assist small business owners obtain a permit for commercial construction.

Wednesday, January 23

Online Home Brokerage Rex Secures $45 Million investment

Rex, a Woodland Hills company that uses technology to sell homes, has secured $45 million in Series C funding.

Developer Proposes Apartments to Replace Studio City Homes

A private developer has proposed to replace a group of hillside single-family homes in Studio City with a boutique apartment complex.

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Glendale Office Building Sells for $5.9 Million

A 14,492-square-foot office building in Glendale has sold in an off-market transaction for $5.9 million ($409 per square foot.

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Teledyne Beats Expectations for Fourth Quarter

Teledyne Technologies Inc. beat Wall Street estimates on earnings and revenue for the fourth quarter.

Tuesday, January 22

Soundstage Company Signs $7.7 Million Lease in Valencia

Entertainment industry provider Triscenic Production Services Inc. has leased an industrial building in Valencia for $7.7 million, according to an announcement by real estate brokerage firm CBRE.

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Thousand Oaks to Incorporate Former Taco Bell Site in Civic Arts Plaza

Earlier this month, the city of Thousand Oaks City Council decided to incorporate a block that includes the city’s first Taco Bell outlet into the upcoming redevelopment of Thousand Oaks Civic Arts Plaza.

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Europe Gives Amgen’s Blincyto Expanded Indication

The European Commission has approved an expanded indication for Amgen Inc.’s Blincyto, a drug to treat acute lymphoblastic leukemia.

Cal Lutheran Economic Center Joins Wall Street Journal Survey

The Center for Economic Research and Forecasting at California Lutheran University has joined as a contributor to the Wall Street Journal’s Economic Forecasting Survey.

Monday, January 21

Ventura County Collaborative Discusses Business Resiliency at Annual Meeting

The Economic Development Collaborative Ventura County convened last week for its annual meeting to discuss “Business Resiliency: Thriving in Seasons of Disruption.”

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Developer Secures $190 Million for 480-Unit Apartment Project in Santa Clarita

Multifamily developer Jefferson Properties Inc. has obtained construction financing of $190 million to build Jefferson Vista Canyon, a massive apartment complex project underway in Santa Clarita.

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B. Riley Subsidiary Liquidates Gymboree Stores

Great American Group LLC, a subsidiary of Woodland Hills-based B. Riley Financial Inc., has begun liquidation sales at all 798 Gymboree and Crazy 8 stores in the U.S. and Canada.

Why Estoppels Should be Examined. And Just What Are They, Anyway?

The importance of estoppel agreements.

Woodland Hills CPA Firm Promotes Partners

ACCOUNTING: CNM cites ‘servant leadership’ qualities in executives.

Promotions at Valley CPA firm.

Big Money – Maybe

Cannabis operators promise to pay high prices when looking for warehouse space, but closing the deal proves problematic for commercial real estate brokers in the Valley market and elsewhere.

Legal pot retailers face uphill battle to compete against black-market vendors.

Marijuana Woes

On both the retail and real estate fronts, operations hit snags

Legal pot retailers face uphill battle to compete against black-market vendors.

‘Team DeGrinis’ Negotiates a New Address

BROKERAGE: Newmark Knight Frank offers ‘more services’ to clients.

Newmark Knight Frank nabs industrial brokerage team.

The Vineyards Goes Green

Developer seeks LEED certification for the Porter Ranch retail center, a plan that involves materials, construction, landscaping, irrigation, solar energy and electric vehicle charging stations.

New shopping center’s environmental strategy.

Around The Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

How the Din Got Put in Dining

Is it just me? Or are you increasingly reluctant to hold a business lunch at any trendy restaurant?

Guitar Center Looks for Harmonic Resurgence

RETAIL: Chain sees services as advantage over e-commerce.

Guitar Center takes stage with sales strategy to counter online competition

Secrets Stolen From Semtech?

TECHNOLOGY: Dispute clouds future for wireless initiative.

Semtech gets in legal challenge over wireless charging.

The Number

What Woodland Hills companies pay for internet services

What Woodland Hills companies pay for internet services

Ridesharing Takes Metro A ‘Last Mile’

Pilot program will operate from the NoHo station.

Metro starts rideshare pilot program in North Hollywood.

Craft Brew Growth

BEVERAGES: Acquisition means Lucky Luke will open a second pub at former Kinetic location.

Lucky Luke Brewing expands into Lancaster.

Share Price Trend Still Upward for BlackLine

SOFTWARE: New hire sets company for expansion in Japanese market.

BlackLine Inc. added to its management ranks last month with a new hire in Asia.

Fine Dine Maestro

Phillip Frankland Lee returned to the Valley to open his own restaurants; now he looks to Montecito, where he’ll charge $550 a plate.

High-end dinner

Post-Production Houses to Share Editing Bays

FILM: Complementary markets drives partnership formation in Burbank.

Post-production companies form partnership.

Friday, January 18

Valley Multifamily Portfolio Sells for $29.5 Million

Real estate brokerage Marcus & Millichap has completed negotiations on the $29.5 million sale of an apartment portfolio with nine separate properties in the San Fernando Valley.

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$35 Million Four-Property Sale Includes Northridge Retail Site

Weiss Development has sold a four-property retail portfolio with sites in Northridge and in Torrance for a combined $35 million to an undisclosed buyer.

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Former State Treasurer John Chiang Joins ApolloMed Board

Former state treasurer John Chiang has joined the board of Apollo Medical Holdings, an integrated population health management company in Glendale.

Preview: Marijuana Woes

On both the retail and real estate fronts, operations hit snags.

Preview: Secrets Stolen From Semtech?

TECHNOLOGY: Dispute clouds future for wireless initiative.

Quality Rules at College Preps

LIST: Private high schools recruit with top programs.

Area high schools mix academics and athletics.

Thursday, January 17

Van Nuys Airport Launches Alternative Jet Fuels

Aviation professionals gathered Thursday at the Airtel Plaza Hotel in Van Nuys to hear about the benefits of alternative jet fuel.

Santa Clarita Studios Leases Warehouse in Valencia

Santa Clarita Studios has leased a 109,379-square-foot warehouse in Valencia for seven years, according to an announcement from CBRE, which handled the transaction.

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West Hills Office Campus Sells for $160 Million

In one of the San Fernando Valley’s largest commercial real estate deals in recent memory, Kennedy Wilson has purchased an 80-acre West Hills office campus for $160 million.

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Wednesday, January 16

Daily News Owner Bids for Ventura County Star Publisher

Hedge fund-backed media company MNG Enterprises Inc., which owns the Los Angeles Daily News, has made an unsolicited bid for Ventura County Star publisher Gannett Co.

Kids Empire Expanding into Woodland Hills

Kids Empire, a children’s indoor playground, has signed a 5-year lease for 10,141 square feet of retail space in the Warner Center area.

Film Activity Up a Bit in 2018

Double-digit growth in on-location film, television dramas and pilots contributed to a modest overall increase in filming production last year, according to figures released Wednesday by FilmL.A.

Avery Dennison Aids in Funding Semiconductor Company

Avery Dennison, the Glendale company known for its RFID or radio frequency identification tags, is one of three businesses to raise an additional $30 million in Series B funding for Wiliot, an Israel-based semiconductor company that is innovating a similar product.

Tuesday, January 15

Fire Damages Sportsmen’s Lodge in Studio City

The Sportsmen’s Lodge Events Center in Studio City suffered a fire Jan. 15 that left the dining and special events venue damaged.

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Dave & Buster’s to Open in Thousand Oaks

A new Dave & Buster’s is imminent in Thousand Oaks, and with it comes the promise of roughly 230 new jobs.

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Man Who Jumped From Warner Center Tower Identified

The Los Angeles County’s Medical Examiner-Coroner’s office has identified the man who jumped to his death from one of the Warner Center Towers in Woodland Hills on Jan. 10 as 62-year-old Woodland Hills resident Joshua Simon.

Greig Smith Returns to L.A. City Council

Former Los Angeles City Councilman Greig Smith has returned to represent the West San Fernando Valley as of Tuesday.

Monday, January 14

Limoneira Posts Record Revenue for 2018

Limoneira Co. had total revenue of $129 million last year, a record for the company.

Disney Nominates CVS Executive for Board

Derica Rice, president of CVS Caremark, has been nominated as a director for the Walt Disney Co.

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HR Tech Firm CareerArc Raises $30 Million

Human resources technology company CareerArc has raised $30 million in a financing round led by an East Coast private equity firm.

Friday, January 11

Disney CEO’s Compensation Totals $65 Million

Robert Iger, the chief executive of Walt Disney Co., took home more than $65 million in compensation last year, according to the Burbank media and entertainment company filings with the Securities and Exchange Commission on Friday.

Capstone Sells Follow-on Turbine

Capstone Turbine Corp. received a third follow-on order for a microturbine from a company with natural gas operations in the Mid-Atlantic region.

Van Nuys Warehouse Sells for $3.6 Million

Real estate firm Avison Young has brokered the $3.6 million sale of a 16,230-square-foot warehouse in Van Nuys.

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Thursday, January 10

Man Jumps in Apparent Suicide at Warner Center Towers

Police are investigating the death of a man who appears to have jumped to his death from a building at Warner Center Towers in Woodland Hills Thursday afternoon, police officials said.

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$26 Million Debt Financing Smoothes Acquisition of Westlake Village Retail Center

Real estate brokerage firm CBRE has provided $25.9 million in debt financing toward the acquisition of North Ranch Gateway retail center in Westlake Village.

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Blumenfield Launches Transit Organization for Warner Center

Los Angeles City Councilman Bob Blumenfield launched on Thursday a new transportation management organization to promote alternative transit in the Warner Center.

Thousand Oaks Approves Makeover of Civic Arts Plaza Campus

Thousand Oaks City Council has approved a $1.4 million contract to create the Civic Arts Plaza Campus Master Plan.

Wednesday, January 9

Realtors Award $1 Million in Housing Assistance to Fire Victims

The California Association of Realtors has begun awarding $1 million in housing assistance grants to homeowners and renters affected by the Woolsey, Hill and Camp fires. Households can apply for up to $2,000 for mortgage relief or to help pay for temporary housing.

Cinedigm Sells Digital Movie Projectors

Cinedigm Corp. has sold off 125 digital projection systems, bringing to more than 200 the total number of systems it has unloaded.

Tutor Perini to Build Parking for Charleston Airport

A subsidiary of Tutor Perini Corp. has won a contract worth $88 million to build a parking structure at the Charleston International Airport in South Carolina.

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Ventura County School Districts Join to Buy Office Building

Oxnard Union High School District and Rio School District have partnered to buy a 115,612-square-foot office building for nearly $13.8 million, according to a Lee & Associates-LA North/Ventura.

Tuesday, January 8

California Credit Union Offers Government Shutdown Relief

Glendale-based California Credit Union is offering financial relief programs to members whose paychecks have been interrupted by the partial government shutdown.

Disney Closes Parenting Website Babble

Walt Disney Co. shut down its website Babble after more than a decade of serving as a resource for parents.

Camarillo Industrial Portfolio Sells for $24.5 Million

Daum Commercial Real Estate Services has sold a $24.5 million portfolio of six industrial buildings.

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Monday, January 7

BlackLine Hires Head of Japanese Subsidiary

BlackLine Inc. has hired technology executive Yoshiko Furuhama as country manager for BlackLine K.K., the company's recently established subsidiary in Japan.

Industrial Brokerage Team Exits Colliers For NKF

Newmark Knight Frank announced Monday that a prominent industrial real estate brokerage team has joined its ranks after a decade at Colliers International.

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New Director at CSUCI’s Entrepreneurship Institute

The Entrepreneurship & Small Business Institute at California State University – Channel Islands has named Cynthia Sherman as its new director.

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Valley to Hollywood

As first permanent president of the Alliance, Bill Allen connected the Valley with show business.

Marketing the Valley

In Volatility, ‘We Want to Run Counter Cyclical’

The investment side has become much more of a commodity.

Money Management in Flux

Financial service professionals seek alternative investments and special services to separate themselves from the competition.

Professional firms find ways to differentiate.

Risen from the Rubble

Started after the Northridge quake, Valley Economic Alliance turns 25

Valley Economic Alliance turns 25.

Moorpark: High Street Depot Kicks Into Gear

DEVELOPMENT: Images reveal design of mixed-use next of Metro station.

DiCecco Architecture Inc. recently revealed its designs for High Street Depot, a mixed-use project that promises to blend retail and residential units adjacent to Moorpark’s Metro station.

The Price of Modernism

Often designated landmarks, Mid-Century homes can come with higher value and more red tape.

Modernist architecture comes with a price.

Companies Align to Penetrate China’s Hospital Supply Chain

BIOTECH: Trade partnership promises to take Endonovo’s electrical stimulation therapies to giant Asian market.

Endonovo Therapeutics to enter China.

Heyday Display

Valley Relics Museum features signage and marketing materials from the past.

Valley Relics Museum opens in Van Nuys.

Around The Valleys

News and notes from the greater San Fernando Valley

News and notes from the greater San Fernando Valley

Climate Goal Should Include Gas

I recently had the opportunity to address the Valley Industry and Commerce Association’s Business Forecast Conference to discuss the challenges we face as we continue to clean our air and address climate change.

What Do We Want? Homes! When Do We Want Them? Now!

Last week, the Valley Industry and Commerce Association released its list of 2019 Legislative Priorities, which are developed by our board of directors and then voted on by our members.

City Flap Over Hangar Events

AVIATION: Airport tenants oppose new rule enforcement.

Airport firms fight ban on events in hangars.

A Video Game Where Brands Could Win Big

ENTERTAINMENT: Mythical raises $16M for development.

Mythical Games aims for revenue in free play.

Market High for Prop Managers

LIST: Illi Commercial expands into maintenance to boost efficiency.

Firms see revenue growth.

The Number

5 IPOs in L.A. region during 2018

Regional companies that went public in 2018.

Skateboard Hall Moves To Simi Mall

Former park operator realizes dream of opening a museum.

Skateboard museum moves to Simi Valley mall.

CEOs Stage PAGA Protest

REGULATION: Business group targets firm filing suits under controversial law.

Group targets lawyers filing anti-business lawsuits.

OK Brightens Future in Faraway Tejon Ranch

DEVELOPMENT: Approval of Centennial project could add 19,000 homes.

Tejon Ranch gets OK for Centennial project.

VICA Bestows Business, Service Awards at Annual Lunch

Meeting features swearing-in of newly elected board members.

VICA gives out awards at annual meeting.

Conejo’s Newsman

From wildfires to cancer battles, Lance Orozco broadcasts the latest from KCLU’s studios.

Radio journalist

Small Sensors Spell Opportunity for H2Scan

MANUFACTURING: New technology allows lower-cost hydrogen detectors.

There are about 14 ways that a power transformer can fail and the common factor in all of them is that the amount of hydrogen increases.

Conejo Chamber Raises Funds for Disaster Relief

RECOVERY: Businesses give $50,000 to help victims of shooting and wildfires.

The Greater Conejo Valley Chamber of Commerce contributed $50,000 in donations for recovery efforts following the Woolsey and Hill fires, and the Nov. 7 shooting at Borderline bar in Thousand Oaks.

Preparation Prevents Crisis During Succession

Morton Capital lost its founder, the late Lon Morton, in April 2017.

Friday, January 4

Calabasas Office Park Sells for $78 Million

The three-building Calabasas Park Centre office campus has sold for $78 million.

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NetSol Appoints President of Chinese Operations

Netsol Technologies Inc. has named Hui Liang to the position of president of its Chinese operations.

Endonovo Signs $10 Million Stock Sale Agreement

Endonovo Therapeutics Inc. has signed an agreement with Azure Capital to sell up to $10 million of its common stock.

Thursday, January 3

Mini Mixed-Use Project Proposed for Woodland Hills

A mini mixed-use development is proposed for a Woodland Hills site that currently hosts a 356-square-foot tailor shop.

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Thousand Oaks Biopharmaceuticals Raises $45 Million for Chinese Project

Thousand Oaks Biopharmaceuticals Inc. has closed a $45 million Series A financing round led by a Chinese investment group.

Providence Program Extends Service to Valley Homeless

Providence Health and Services has begun funding a partnership with Tarzana Treatment Centers to treat homeless patients at emergency departments at three Providence hospitals in the Valley.

CEO Departure Sparks Fast Fall for Atara

Shares of Atara Biotherapeutics Inc. fell nearly 20 percent after the company announced it is looking for a new leader as its current chief executive prepares to step down.

Wednesday, January 2

Capstone Jumps 27 Percent on Upgrade Order

Shares of Capstone Turbine Corp. jumped 27 percent Wednesday after the Van Nuys company announced it secured an order to upgrade multiple microturbines for Florida-based Benz Research & Development.

MGA Entertainment Dolls Among Amazon’s Top-Selling Holiday Toys

MGA Entertainment Inc.’s L.O.L. Surprise! Dolls were among Amazon.com Inc.’s top-selling toys this holiday season.

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Universal Studios Wins Award for 'Dragon' Float

Universal Studios scored a winner with its first-ever float in the Tournament of Roses Parade on New Year’s Day in Pasadena.