83.9 F
San Fernando
Tuesday, Nov 29, 2022
-Advertisement-

Around the Valleys

ANTELOPE VALLEY LANCASTER BYD Motors Inc. broke ground on the second phase of its manufacturing facility in Lancaster to meet rising demand for its electric vehicles. The construction will be complete next year and will add tens of thousands of square feet to the existing facility. A third phase at a later date will bring more space to the plant and bring it up to full capacity. BYD America President Stella Li said the expansion in Lancaster demonstrates the Chinese company’s commitment to bringing good-paying jobs with career advancement opportunities to the Antelope Valley. BYD Motors is the U.S. subsidiary of Chinese electric vehicle and battery manufacturer BYD Co. Ltd. CONEJO VALLEY CAMARILLO Technology developed by Semtech Corp. has been used in a wide area network covering more than half the population of New Zealand. The Camarillo company’s long-range radio frequency technology was used in gateways and sensors deployed by KotahiNet, a Wellington, New Zealand startup and Loriot, in Thalwil, Switzerland, for an Internet-of-Things network. Semtech, KotahiNet and Loriot are members of the LoRa Alliance, a group of 400 companies committed to developing standards for the use of long-range wide area networks for Internet-of-Things applications. THOUSAND OAKS Two economists from California Lutheran University were ranked second in the nation for the accuracy of their economic forecasts. Bill Watkins and Dan Hamilton received the recognition from the National Association for Business Economics out of the 80 professional forecasters who participated. Watkins is executive director of the university’s Center for Economic Research and Forecasting and Hamilton is the center’s director of economics. Thousand Oaks’ largest industrial building has sold for more than $37 million to a local investor. Van Nuys’ Majestic Asset Management Inc., which buys, develops and manages commercial and multifamily residential properties, bought the more than 347,000-square-foot industrial building in the Conejo Spectrum Business Park, according to L.A.-based brokerage CBRE Group Inc. Sitting on about 18 acres, the building at 1461 to 1475 Lawrence Drive is a research and development facility that was fully leased at the time of the sale, CBRE said. The structure was built in 2000. SAN FERNANDO VALLEY CALABASAS Payment processing service Applied Merchant Systems has merged with BlueSquare Resolutions, an Arizona company operating in the same space. Applied Merchant Chief Executive Jonathan Severn said the deal had been in the works and was driven by how his Calabasas-based company and BlueSquare, in Scottsdale, complement each other. Financial terms of the deal between the two privately held companies were not disclosed. BlueSquare Chief Executive Sabin Burrell becomes a shareholder and senior executive of Applied Merchant while remaining head of BlueSquare. Applied Merchant handles more than $4 billion in annual processing volume of debit and credit card purchases in retail stores, over the internet and through mobile devices. CHATSWORTH The nearly 350-unit Waterstone Apartment Homes in Chatsworth has sold for $72.5 million to an undisclosed buyer. Calabasas commercial real estate brokerage Marcus & Millichap Inc. said its Institutional Property Advisors division negotiated the sale of the apartment complex and its 348 units at 9901 Lurline Ave. Greg Harris, Ron Harris, Kevin Green, Joseph Grabiec and Paul Darrow of Marcus & Millichap represented the seller. According to CoStar Group Inc., real estate investment and operations firm SteelWave Inc. in Foster City, formerly named Legacy Partners Residential Inc., bought the property in 2006 for $52 million. GLENDALE DineEquity Inc.’s IHOP restaurants has named a new vice president to lead its culinary division. The global pancake purveyor, based in Glendale, appointed Nevielle Panthaky to direct its culinary strategy. One of his main responsibilities will be to refine the company’s food and beverage offerings and introduce exclusive promotional menus, the company said in a prepared statement. Panthaky brings 15 years of industry experience to the role, including stints at the Hotel del Coronado in San Diego and Union Hospitality Group. He most recently served as vice president of the culinary division of Wok Holding’s P.F. Chang’s Bistro and Pei Wei Asian Diner. PORTER RANCH Southern California Gas Co. has pled no contest to a misdemeanor violation as part of a $4 million settlement with state prosecutors. The utility was charged with failing to alert authorities in a timely manner of a gas leak at its Aliso Canyon facility in October, which forced 8,000 Porter Ranch residents from their homes. The settlement also mandates that SoCalGas implement a leak monitoring system that is more rigorous than the one currently required by state and federal agencies, according to a statement by Los Angeles County District Attorney Jackie Lacey. Upon completion of the agreement’s terms, all other charges against SoCalGas will be dropped, the company stated. SHERMAN OAKS Flip Flop Shops announced the launch of its ecommerce website, a new apparel line and a new “super kiosk” store format. The chain of beachwear stores was acquired last year by Cherokee Inc. in Sherman Oaks. The Flip Flop website will launch in mid-October and will communicate a healthy and stress-free lifestyle “with your toes exposed,” the brand’s tagline. The super kiosks will measure about 300 square feet in the shape of a giant sandal. They are designed as an addition to the chain’s traditional four-walled stores. Finally, in the spring 2017 the chain will introduce the Everyday California line of footwear for men and women. Real Industry Inc. has hired an insider as its new chief financial officer. Michael Hobey had been finance chief for Real Alloy Holding Co., the subsidiary of Sherman Oaks-based Real Industry. He replaces Kyle Ross who was promoted to interim chief executive last month. Hobey’s leadership was important to the integration of Real Alloy, an aluminum recycler in Cleveland, following its acquisition by Real Industry last year, Ross said. Prior to Real Alloy, Hobey was head of finance at Global Recycling & Specification Alloys and was vice president of corporate development and treasurer at Aleris International Inc., in Beachwood, Ohio. VAN NUYS Clay Lacy Aviation of Van Nuys has merged with an aircraft management and charter company as the first part of an expansion strategy. With the addition of Key Air in Oxford, Conn., the charter and aircraft management firm now represents 75 managed aircraft and runs fixed-base operations at Van Nuys and Seattle as well as four maintenance centers. Chief Executive Brian Kirkdoffer said the merger with Key Air was the result of clients asking for a larger presence in New York. The deal is the first of several steps to expand on the East Coast, he added. WOODLAND HILLS San Diego-based developer Fairfield Residential has broken ground on a mixed-use apartment complex planned on the former site of the Los Angeles Daily News headquarters near the intersection of Oxnard Street and Canoga Avenue, according to the newspaper. The new facility at 21221 Oxnard St. in Woodland Hills will be Warner Place, a 379-unit luxury mixed use apartment and retail complex. Original plans also include an office building on the 4.6-acre site. At 540,000 square feet, Warner Place was the first development approved under the Warner Center 2035 Plan.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-