SFVBJ CURRENT EDITION

Promenade Pullback

DEVELOPMENT: Westfield will move forward gradually in Woodland Hills.Shortly after Promenade 2035 – the $1.5 billion overhaul of mostly dormant Westfield Promenade shopping mall in Woodland Hills — got final approval last month, the developer decided to wait to start construction.

Lamps Plus Earns Role in ‘Wonder Woman 1984’

Superhero film puts retailer inside retro-style mall.

Lamps Plus Inc. has made an appearance in the new Warner Bros. Entertainment film, “Wonder Woman 1984.”

AROUND THE VALLEYS

AROUND THE VALLEYS

Building in Simi Fetches $30 Million

Bank of America leases entire 206,917-square-foot property.

Despite a waning appetite for office space during the pandemic, an office building in Simi Valley has sold for $30 million, according to Newmark, a real estate brokerage involved in the deal.

Watermark Lands $83 Million Bridge Loan

Tarzana’s Gelt and partner Uhon secure financing for nearly complete 250-unit development in Reseda.

Watermark has hit its mark with bridge financing.

Tejon Ranch’s OK to Build Multifamily

Kern County greenlights potential 495-unit project.

Commercial developer Tejon Ranch Co. has announced that the Kern County Board of Supervisors has approved two conditional use permits to authorize development of multifamily apartments at the Tejon Ranch Commerce Center.

Texas-Sized Acquisition

Marcus & Millchap buys LMI Capital in Houston.

Marcus & Millichap Inc. has acquired Houston-based LMI Capital.

Industrial Might in the Heart of the Valley

The city of San Fernando caters to business owners fond of a small-town feel.

Surrounded by industry-heavy Sylmar to the north, Mission Hills to the west and Pacoima to the southeast, the city of San Fernando is one of the smallest cities in the region.

Private Schools Hold Tuition Line But Offer Aid

LIST: Administrators report full enrollment even with remote-only instruction.

So far in the coronavirus pandemic, private high schools in the Valley region have not experienced a drop in enrollment, nor have they had to reduce tuition, staffers told the Business Journal.

Hollywood Starts Year With Clean, Blank Slate

Movie distribution remains in flux after terrible 2020.

The summer movie season generally brings in about $4 billion in box office revenue.

Music Chain Sheds $800 Million Debt

Guitar Center has ‘operational flexibility’ after Chapter 11.

In December, just a month after filing to reorganize under Chapter 11, Guitar Center Inc. emerged with a balance sheet lighter by about $800 million in debt.

Footprints Floors to Enter the L.A. Market

Former Walmart executive to open franchise in Valley.

A former Walmart de Mexico executive is bringing a new home flooring franchise to the San Fernando Valley.

Black Angus Trims Open Locations

20 restaurants temporarily shut due to coronavirus.

Black Angus Steakhouse has temporarily shuttered more than half its restaurants across the Western U.S. due to the coronavirus and resulting business restrictions.

COVID Patient Influx Strains Hospital Resources

Bed capacity and staffing in the red, mortuaries full.

Hospitals in the Valley are seeing surges linked to holiday gatherings, staff said, threatening to overwhelm plans put in place at the beginning of the pandemic to accommodate a massive influx of patients.

Pandemic Alters Testing Lab’s Business Model

Universal Diagnostic tries direct-to-consumer strategy.

Universal Diagnostic Laboratories in Van Nuys has drastically changed its business model in the wake of COVID-19 testing.

A Seat at the Table

FOOD: Unreal Deli breaks into the substitute meat business with help from investor Mark Cuban.

When Jenny Goldfarb went vegan, the New York native wanted to find a way to replicate her favorite corned beef without animal byproducts.

California Oilman

PROFILE: Todd Stevens, former chief executive of California Resources, looks back at his tenure.

West Point graduate and former Army officer Todd Stevens became the first chief executive of California Resources Corp. in 2015 when the company spun off from Houston-based Occidental Petroleum.

Salem Prepares to Enter U.S. Latino Market

MEDIA: Bilingual news service opens new revenue stream for Camarillo broadcaster.

Salem Media Group Inc. was set to debut this month a new digital streaming platform for the U.S. Latino market.

Behavioral Hospital

Health Care: Lancaster to host state’s first center for mental health plus rehab.

Lancaster will host the state’s first behavioral health and rehabilitation hospital, created by a joint venture between Antelope Valley Hospital and Kentucky-based Kindred Healthcare.

VALLEY INSIDER

Saleswoman to CEO

Saleswoman to CEO

Report Outlines Restaurant Recovery

Cal Lutheran grad student suggests plan for sector in Pasadena.

After nearly 10 months of disrupted sales and government-mandated lockdowns, Pasadena’s restaurant industry faces a long road to recovery.

Stars Rising for Fundraising Gala

Valley Economic Alliance holds event virtually for first time.

Valley Economic Alliance held its “Valley of the Stars ... Rising” event for the first time virtually on Jan. 15.

Aerojet Meets Lockheed Need

AEROSPACE: $5 billion offer for complementary rocket maker.

With its acquisition of Aerojet Rocketdyne Holdings Inc., Lockheed Martin Corp. will boost its presence in the space industry and the Valley.

DISNEY DOWNSIZE

Restructuring opens office space, but streaming service may fill it.

Walt Disney Co. is now a streaming business.

AROUND THE VALLEYS

AROUND THE VALLEYS

‘Workforce’ Multifamily for $29M

Mountain View Manor in Sylmar hosts 200 units.

Positive Investment has closed one of the largest 2020 deals in Los Angeles with its purchase of the Mountain View Manor apartments at 12960 Dronfield Ave. in Sylmar, where 200 units traded for $29.4 million, or $147,000 per unit.

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