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Wednesday, Dec 7, 2022
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AROUND THE VALLEYS

Antelope Valley Lancaster More than a year after breaking ground, homeless project Kensington Campus in Lancaster is readying to accept tenants. Wah Chen, executive of InSite Development, said that by mid-October the first 26 permanent housing units will be ready. Every month after that, another 26 units should be available, she added. “By the end of the year we should have the emergency shelter all intact,” Chen said. InSite Development, in Woodland Hills, partnered with Los Angeles County and The People Concern, a Santa Monica nonprofit that works with the homeless to provide social services, on the housing development on 14 acres at Avenue I and 32nd Street West. The project includes 153 units of permanent housing, the emergency housing with 156 beds, a 20,000-square-foot building to provide support services and 12,000-square-foot job creation building. San Fernando Valley Chatsworth CBD Daily, a hemp-based skincare company in Chatsworth, has added Fleurtiva to its portfolio of brands. Fleurtiva is CBD Daily’s first ingestible product. It contains hemp CBD drops designed to help with post-workout recovery. The product is available in two strengths: 500 milligrams for $70 and 1,000 milligrams for $130. “The ultra-concentrated formula incorporates oil derived from plants grown in New York, a state noted for its ability to cultivate high-quality flowers,” CBD Daily said in a statement. “Fleurtiva further ensures the purity and potency of products with dedicated third-party testing to ensure each dose is effective, safe and contains less than 0.3 percent THC.” CBD Daily also sells cream, shampoo and spray with hemp-derived ingredients. Granada Hills Park Balboa and Balboa Palms, two Granada Hills apartment complexes at 16914 and 16950 Blackhawk St., respectively, sold for more than $12 million. According to a statement from Calabasas-based brokerage Marcus & Millichap Inc., representing the seller along with Hooman Emanuel of KW Commercial in Studio City, the two complexes, comprising 44,721 square feet and 57 units, sold at $211,404 per unit, or $269 a square foot. The sale is rare — only six other apartment properties with more than 20 units have sold in Granada Hills in the past 20 years, according to Rick Raymundo of Marcus & Millichap, who helped close the deal with Emanuel. Park Balboa has 29 units and Balboa Palms has 28. Sylmar The San Fernando Valley will figure in the deployment of 21 electric trucks made by BYD Motors Inc. for the beverage distribution network of Anheuser-Busch Cos. The beer maker’s Sylmar distribution facility is one of four in Southern California to use the second-generation 8TT Class 8 electric trucks, which were assembled at the BYD factory in Lancaster. The Center for Transportation and the Environment, a nonprofit based in Atlanta, will be responsible for overseeing and managing the project. The center anticipates the trucks being on the road by the end of the year with full project completion in early 2021. It received funds from the California Air Resources Board to manage the project. Engie Services U.S., a division of Engie, in Oakland, will design and install the charging stations at all four facilities, which includes Riverside, Pomona and Carson in addition to Sylmar. Woodland Hills Yaya Vanowen, a mixed-use project featuring rental housing over ground-floor commercial space, is moving ahead in Warner Center, according to Urbanize.LA. Located at 21121 Vanowen St. in Woodland Hills, the seven-story complex will feature 101 studios and one- and two-bedroom apartments. These units will exist above 4,000 square feet of ground-floor retail space. According to city records, the developer, an entity called Yaya Vanowen LLC, is managed by Al Leibovic, who currently has 43 apartments in development on a 19,000-square-foot site at 8748-8750 N. Sepulveda Blvd. in North Hills. Building amenities will include a roof garden and fitness center, while about 121 parking stalls on three levels — including one above ground and one below ground — will round out the complex. Koreatown-based CORBel Architects is designing the modern-looking building. Tri-Cities Glendale Fast-fashion house Forever 21 has announced a list of retail locations at risk to close amidst the company’s Chapter 11 bankruptcy reorganization, including several stores in the Valley. Among the endangered outlets are those at Americana at Brand in Glendale, the Glendale Galleria, Westfield Topanga Plaza in Canoga Park, Sherman Oaks Fashion Square, The Oaks in Thousand Oaks, Valencia Town Center, The Plant in Van Nuys and Pacific View Ventura Mall. Forever 21 has not disclosed when the closures would happen, and it is possible one or more of these stores may remain open as the company is currently renegotiating leases with property owners. In total, 41 stores in California are at risk. Los Angeles-based Forever 21 filed for Chapter 11 Sept. 29 after struggling to attract foot traffic in recent years as e-commerce has overtaken mall retailers. The company anticipates the closure of 178 of its 549 U.S. stores. Ventura County Simi Valley AeroVironment’s Chief Financial Officer Teresa Covington will resign this month to become chief financial officer of an undisclosed private company. The move will become effective Oct. 18. The missile and drone manufacturer has initiated a search to select another chief financial officer. Vice President and Controller Brian Shackley was named interim chief financial officer. In a statement, AeroVironment Chief Executive Wahid Nawabi thanked Covington for her role in the company’s two consecutive years of double-digit revenue growth. “Teresa has been a trusted member of our management team whose perspective we have valued greatly, and we wish her all the best in her future endeavors,” he said. In the same statement, Covington asserted “the company is in a strong financial position.” “I am confident in the leadership team’s ability to continue successfully executing its strategy and delivering value for shareholders,” she said. Thousand Oaks The California Museum of Art Thousand Oaks has elected two high-profile businesspeople to its board of directors. Gerhard Apfelthaler and Glenn Fuller will each serve three-year terms on the 10-member board. Apfelthaler is dean of California Lutheran University’s school of management and a professor of international business. He is known locally for founding the Cal Lutheran’s Hub 101 incubator for early-stage startups in Westlake Village, as well as several companies including Oak Therapeutics and Cure Pharmaceutical in Oxnard and Dream School Academy in Westlake Village. Fuller is a principal at Glenn Fuller Real Estate. He specializes in real estate finance, construction, tax and venture capital law. Ventura All 268 employees of the CoorsTek Inc. ceramics manufacturing plant in Ventura will lose their jobs when the plant permanently closes this month. A notice sent by the company on Aug. 13 to the California Employment Development Department indicates the closure and layoffs will begin Oct. 13, with a deadline of Oct. 27. This will leave a significant vacancy at the industrial property at 4544 McGrath St., south of the 101 freeway. Affected positions will include dozens of non-union technicians, engineers, production operators, managers and supervisors. CoorsTek, based in Golden, Colo., is a national manufacturer of technical ceramic products for aerospace, automotive, electronics and semiconductor applications. The company is owned by Keystone Holdings LLC, a trust of the Coors family. It has other California manufacturing centers in Fremont and Vista. Westlake Village Sienna Biopharmaceuticals has filed a notification with the U.S. Food and Drug Administration seeking permission to sell its drug SNA-001, a topical pre-treatment for laser removal of light hair, according to the company. The Westlake Village biopharmaceutical business filed for Chapter 11 in September and has been looking for ways to “maximize stakeholder value,” Sienna said in the statement. Market data indicate that the commercialization of SNA-001 could increase the number of laser hair removal procedures by 27 percent in the U.S.

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