83.9 F
San Fernando
Friday, Jan 27, 2023
-Advertisement-

AROUND THE VALLEYS

ANTELOPE VALLEY LANCASTER The Antelope Valley Board of Trade and the Greater Antelope Valley Economic Alliance have merged to form the Antelope Valley Economic Development and Growth Enterprise. The two groups noticed a duplication of efforts in attracting and retaining businesses to the Antelope Valley and agreed that a combined organization would create a stronger entity. The new economic development and growth enterprise, also known as AV EDGE, commences July 1. The Greater Antelope Valley Economic Alliance was formed in 1999. Board of Trade has served North Los Angeles County since 1957. SAN FERNANDO VALLEY BURBANK Entertainment Partners has acquired a British company that provides, manages and pays background actors for film and television shoots. Financial terms of the deal between the Burbank production and workforce management solutions firm and We Got POP Ltd., of London, were not disclosed. The transaction will bring together Central Casting, a division of Entertainment Partners that has long been Hollywood’s go-to source of background actors, with a similar entity and allow the U.S. company to expand into Europe and Canada. Chief Executive Mark Goldstein said that combining Central Casting with POP naturally complements Entertainment Partner’s strategy to modernize and integrate the production process. “The POP team’s solutions, with their seamless workflow for selection, hiring, management and payment of talent and crew, will enable us to better serve our existing casting clients,” Goldstein said in a statement. POP was formed in 2014 and expanded to the U.S. three years later with the opening of a New York office. POP Chief Executive Kate McLaughlin will join the Entertainment Partner executive team. CHATSWORTH Beauty products manufacturer Cosmetic Laboratories of America has been acquired by Knowlton Development Corp. in Quebec, also a maker of cosmetic and personal care supplies. Financial terms of the acquisition were not disclosed. Cosmetic Labs has been in Chatsworth for nearly 50 years, serving as an early formulation developer for health, beauty and fragrance brands. Knowlton has been in expansion mode lately with the acquisition of Benchmark Cosmetic Laboratories in Irvine; merger with HCT Group in Santa Monica; and purchase of Zobele Group, of Italy. The company has one existing Chatsworth plant, which it received in the 2016 acquisition of skincare products producer Thibiant International. WOODLAND HILLS U.S. Postal Service has signed a lease to occupy a 52,000-square-foot industrial building owned by Bolour Associates Inc. at 21200 Oxnard St. in Woodland Hills. Under a long-term, triple-net lease, the USPS will build out Bolour’s Warner Center site into a sorting center and post office. Dan Reidy of JLL represented USPS in the lease negotiations. CBRE brokers Billy Walk, David Harding, David Solomon and Laura Marcus represented Bolour. For Bolour Associates Inc., a private real estate investment and development company, the commitment represents a shift in strategy to leasing out the existing building instead of redeveloping the 3-acre site. Build-out of the new USPS location is expected to commence this spring. SANTA CLARITA VALLEY SANTA CLARITA The city of Santa Clarita recorded a record number of permits for on-location film and television production last year. For 2019, the north Los Angeles County city processed 576 film permits for 1,490 location film days that generated an estimated economic impact of $35.9 million, or about a 9 percent increase from the prior year. Not included in the numbers are the film days and economic benefit from the filming taking place on the approximately 30 soundstages in the Santa Clarita Valley, which do not need a city permit. Mayor Cameron Smyth said that production companies choose Santa Clarita for its diverse locations, including picturesque neighborhoods and rugged landscapes. “These productions result in high paying, local opportunities for our 6,000 plus residents who work in the entertainment industry – plus more customers for local businesses,” Smyth said in a statement. More than half of the filming days in 2019 were attributed to television shows such as “Mayans MC,” “NCIS” and “Star Trek: Picard” filming in town. TRI-CITIES GLENDALE A 60-unit multifamily complex in Glendale has sold for $28 million. The 70,552-square-foot property at 221 N. Cedar St. was built in 1986 and stands three stories. Partner David Leibowitz and Senior Partner Chris Thompson of Encino-based IREA represented the seller, 221 N. Cedar St. Associates LP, while IREA’s Leibowitz also represented the buyer, a private family trust. CoStar Group’s online database identified the seller as Jeanette Zakari of Beverly Hills. Glendale-based California Credit Union has expanded into Orange County with a new branch in Santa Ana. Located at 1313 W. 17th St., the branch features full-service financial specialists and interactive tablet stations. The credit union, which manages about $3 billion in assets, now has 25 branches. In San Diego, it operates under its North Island Credit Union brand. VENTURA COUNTY CAMARILLO PBS Biotech has leased a 63,789-square-foot freestanding industrial facility in Camarillo, according to brokerage Newmark Knight Frank. The recently renovated property, located at 4721 Calle Carga, features four ground-level loading doors with a 22-feet clear height; open bullpen areas; multiple labs; and breakroom. The building lies next to the 101 freeway and its location between Santa Barbara and the Greater Los Angeles area made it ideal for PBS Biotech. Newmark Knight Frank Executive Managing Director John DeGrinis, along with Senior Managing Directors Patrick DuRoss, Jeff Abraham and Greg Tippin, represented both the sublessor, Microsemi Communications, and PBS Biotech in the transaction. “PBS Biotech specializes in the manufacturing and supply of bioreactors, which are utilized by biotech companies around the world for research and development,” Abraham said in a statement. “The new property is four times larger than PBS’ previous location, accommodating their current space needs as well as allowing room for growth.” This transaction marks the fifth that Team DeGrinis has completed with a biotech company in the past year. MOORPARK The Village at Moorpark, a 129,374-square-foot shopping center, has sold for $20 million, according to brokerage Avison Young. Located at 706 W. Los Angeles Ave., the 11.52-acre Moorpark retail center boasts a 76.3 percent occupancy. Tenants include Verizon, Bank of America, Petco and Dick’s Sporting Goods. Avison Young Principals Chris Maling and David Maling, based in the firm’s downtown Los Angeles office, represented seller London Reo Retail-CA LLC, a Delaware limited liability company. They also represented buyer Chesser Group Inc. “This asset offered the buyer an opportunity for immediate upside by filling the vacancy through the implementation of a leasing strategy aimed at attracting daily needs/service-oriented tenants,” Chris Maling said in a statement. THOUSAND OAKS Barefoot Dreams, a lifestyle brand specializing in home, baby, youth, adult apparel and pet products exclusively licensed with Burbank-based Walt Disney Co., has committed to a 50,708-square-foot lease at Rexford Industrial’s Conejo Spectrum Business Park in Thousand Oaks. Bennett Robinson, of CBRE, represented Barefoot Dreams in the lease transaction. The Newmark Knight Frank team of John DeGrinis, Patrick DuRoss and Jeff Abraham represented the landlord. Located at 2595 Conejo Spectrum St., the freestanding building is part of the 29-acre Conejo Spectrum Business Park. This will be the first occupancy of the building since construction was completed in 2018. — Compiled by Michael Aushenker

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-