Michael Aushenker

Staff Reporter

Email: maushenker@sfvbj.com
Phone: 818-316-3123

Recent Stories

Simi Valley Industrial Condo Complex Sells for $7.2 Million

The industrial property at 74 and 82 W. Cochran St. in Simi Valley has sold for nearly $7.2 million, or $250 per square foot.

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CBRE to Relocate Headquarters to Dallas

The Business Journal has confirmed multiple media reports that commercial real estate brokerage CBRE plans to move its headquarters from Los Angeles to Dallas.

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40 Apartments to Rise in Winnetka

With the unanimous approval of Los Angeles Planning Commission, another 40 residential units will be coming to the central San Fernando Valley.

Sylmar Industrial Park Fetches $22 Million

Rexford Industrial Realty has purchased an industrial park in Sylmar for $22 million, according to a statement from real estate brokerage Newmark.

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Tenants Hedge With Short Leases, Subleases

Market uncertainty spawns reluctance to long-term commitments.By MICHAEL AUSHENKER Staff Reporter The pandemic may have slammed real estate in the second quarter, but it was in third quarter when the

The pandemic may have slammed real estate in the second quarter, but it was in third quarter when the coronavirus’ economic impact truly unfolded, as industry observers paint a picture of companies afraid to commit to long-term leases in the face of multiple uncertainties: the virus, a presidential election and evolving experiments in workforce dynamics.

FAANG Footprint in the Valleys

Amazon and Netflix expand their regional presence during the pandemic.

They are collectively called FAANG, an acronym referring to the stock market’s five most popular technology companies.

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Preview: FAANG Footprint in the Valleys

Some of the most popular technology companies on the stock market have taken a liking to Valley-region real estate.

NAI Capital Restructures Ownership

San Fernando Valley real estate firm NAI Capital Commercial has completed an internal reorganization in which senior management, staff and the team of brokers will collectively own the company.

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Developer Eyes Marriott Hotel in Encino

A Marriott hotel tower in Encino with views of Ventura Boulevard – that’s the plan proposed by Irvine’s DKN Hotels, according to Encino Neighborhood Council.

Burbank Apartments Sold for $6.5 Million

The Capri Apartments in Burbank have sold for $6.46 million, or $307,619 per unit.

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Multifamily Portfolio in Burbank Fetches $31.3 Million

An 84-unit apartment portfolio in Burbank has sold for $31.3 million, or $372,000 per unit.

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Nonprofit Opens 44 Units of Affordable Housing in Sun Valley

Construction on Casa Del Sol — a four-story, 44-unit affordable housing complex by nonprofit developer A Community of Friends — has wrapped up in Sun Valley.

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Van Nuys Goes Upscale In Monroe at Hazeltine

Single-family homes to start in the low $700,000s.

In the San Fernando Valley real estate market, Valley Village has become a euphemism for high-end Van Nuys. Now, developer Ecto Homes intends to elevate Van Nuys proper with a new residential project with two dozen contemporary homes.

2023 Start for Addition at Hilton Hotel

Sun Hill Properties plans construction on 395 rooms.

Expansion of the Hilton Universal City hotel now has a timeline.

Law Firm Buys Valley Village Office

At $5.3 million, location offers ‘value appreciation.’

The gavel has come down on an office building in Valley Village. Alder Law, a Los Angeles-based legal firm, has purchased the building at 12800 Riverside Drive for $5.3 million, or $266 per square foot, according to brokerage CBRE Group.

Scene Maker Seals Lease

Triscenic Production adds 275,000 square feet.

Triscenic Production Services has added 275,000 square feet to its industrial presence in the Santa Clarita Valley, according to CBRE Group, the brokerage which handled the transaction.

‘Moderate Luxury Housing’ in Warner Center

DEVELOPMENT: Vert offers 277 units and work/live option in Canoga Park.

The Warner Center 2035 Specific Plan has created a residential buildup with twin goals – fortify Woodland Hills as the future downtown of the San Fernando Valley and address the statewide housing shortage.

Moorpark City Council Greenlights High Street Depot

Westlake Village developer Daly Group Inc. has received the go-ahead to construct High Street Depot in Moorpark.

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Glendale Apartment With Nine Units Sells for $4 Million

A private investor has acquired Dryden Townhome Apartments in Glendale in a 1031 exchange for $4 million, or $451,000 per unit.

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Hilton Universal City Construction to Begin in 2023

Expansion of the Hilton Universal City hotel now has a timeline.

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Law Firm Buys Valley Village Office Building for $5.3 Million

An office building in Valley Village has been purchased by Alder Law, a Los Angeles-based legal firm, for $5.3 million, or $266 per square foot.

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Valencia Office Condo Fetches $2.1 Million

An office condominium has sold in Valencia for $2.1 million.

Entertainment Service Company Leases 275,000 Square Feet in Valencia

Triscenic Production Services has added 275,000 square feet to its industrial presence in the Santa Clarita Valley.

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Developers Find Fresh Land in Camarillo

DEVELOPMENT: City has retail and residential projects in development.

A two-hotel and restaurant/retail complex, a subdivision with 158 single-family homes and a massive industrial park are among the real estate ventures underway right now in the city of Camarillo.

More Love for Mixed-Use Development in Moorpark

Daly Group’s High Street Depot inches closer to reality

Westlake Village developer Daly Group Inc. has cleared a major hurdle in realizing its Moorpark mixed-use project.

Netflix Grows Footprint By 171,000 Square Feet

Streamer may set up animation studio in Burbank.

Netflix Inc. is deepening the San Fernando Valley’s longtime status as the capital of the cartoon industry by starting an animation studio in Burbank.

Local Colors In Mural at Janss Market

Thousand Oaks mall displays wall painting titled ‘Conejo.’

NewMark Merrill Cos., the Woodland Hills-based retail shopping center developer, has completed the installation of a Conejo Valley-centric mural at Janss Marketplace shopping center, the 458,000-square-foot shopping center located at Moorpark Road and Hillcrest Drive in Thousand Oaks.

Prop 15 May Imperil Lots Of Tenants

Voters to decide on split-roll tax system in November.

Proposition 15, an initiative to tax commercial and industrial properties at a higher rate for education and local government funding, will have a negative domino effect on the market, commercial real estate experts told the Business Journal.

Room Refurbishment

TOURISM: Hoteliers use coronavirus downtime to update their properties.

Although the hotel industry has suffered a major setback because of the pandemic, a few hotel owners have taken advantage of the slow business period to optimistically forge ahead with site renovations.

Valencia Atrium Office Building Sells for $15 Million

Valencia Atrium, a three-story office building in Santa Clarita, has sold for $15 million.

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Burbank Post-Production Facility Fetches $2 Million

Allan Falk, owner of Post Haste Digital & Post Haste Sound Inc., has purchased a creative office and post-production facility in Burbank for $2 million.

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Netflix Creating Animation Studio in Burbank

Netflix Inc. is deepening the San Fernando Valley’s longtime status as the capital of Hollywood’s animation industry by starting an animation studio in Burbank.

Tarzana Apartment Complex Fetches $11.7 Million

A 52-unit multifamily property at 6251-6267 Reseda Blvd. in Tarzana has sold for $11.7 million.

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Gelt Buys Oregon Multifamily for $30 Million

Tarzana-based real estate firm Gelt Inc. has made a $30 million investment in Gresham, Ore. with the acquisition of Silverwood Apartments.

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Investor Purchases 18 of 20 Condo Units in Mission Hills for $4.8 Million

Agents at brokerage Marcus & Millichap Inc. have negotiated the purchase of 18 condominium units in Mission Hills for $4.8 million, or $267,222 per unit.

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Warner Center Fry’s Electronics Site May Become 880 Apartments Plus Hotel

Multifamily developer Kaplan Management Co. has shed more light on its intentions to build a mixed-use project at the site of Fry’s Electronics at 6100 N. Canoga Ave. in Woodland Hills.

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Project Puts Residents on Ventura Blvd.

Sherman Oaks mixed-use has ground-floor retail component.

Los Angeles City Planning Commission has approved a proposed mixed-use apartment complex in Sherman Oaks.

Van Nuys Multifamily

Twin-building Delano Village fetches $5.1 million.

Delano Village, an 18-unit apartment property at 14161-14163 Delano St., has sold for $5.1 million.

$26M for 97 Apartments

Sussex Capital buys Mountain View Manor in Chatsworth.

Woodland Hills-based Sussex Capital Group has purchased Mountain View Manor Apartments

Specific Plan Rethinks Westlake Village

DEVELOPMENT: Land values could multiply based on commission’s framework.

Westlake Village may not be ready for its close-up just yet.

Cartoon Valley

MEDIA: With the rest of the entertainment industry stalled, animation expands its footprint.

With the rest of the industry stalled due to COVID-19, cartoon companies expand in Valley.

Meta Turns Nursery Site Into Units

$14 million transaction for housing in North Hills.

A 4.35-acre North Hills site formally hosting Green Arrow Nursery at 8845 Sepulveda Blvd. has changed hands

City Donation Creates Affordable Housing

Camarillo gives land to build a 68-unit development.

Donation of land by city of Camarillo to create affordable housing.

Preview: Cartoon Valley

With the rest of the entertainment industry stalled, animation expands its footprint.

Pair of Valley Apartments Sold for $11 Million

Colliers International recently closed two multifamily deals in the San Fernando Valley — one in Van Nuys, the other in North Hollywood — for a combined price of $11 million.

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Volkswagen Moving into Ventura County

Volkswagen Group of America Inc. is moving a test center and related operations into the new Oxnard Engineering Campus in Ventura County.

After 15 Years, Housing Project Approved in Simi Valley

Simi Valley Planning Commission has approved phase I of the 184-home Lost Canyons project, according to city records.

Rent-Controlled Multifamily in NoHo Trades for $3.5 Million

A 16-unit apartment property in North Hollywood has sold for $3.5 million, or $218,750 per unit.

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Westcord Broker Denny Bloom Dies

Longtime Westcord Commercial Group real estate broker Dennis “Denny” Bloom died Aug. 19, according to the company.

Sun Valley Mixed-Use Project With 432 Units

The city of Los Angeles has approved Lankershim Crossing — a mixed-use project to be built by a joint venture of Summerland Partners and Hankey Investment Co. that will put 432 dwellings on a nearly 4.5-acre site in Sun Valley.

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