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Around the Valleys: Dec. 10

SAN FERNANDO VALLEY CHATSWORTH Rexford Industrial Realty Inc. acquired an industrial property in Chatsworth for $29.5 million, or $115 per square foot. “We continue to leverage our deep market knowledge and proprietary originations platform to source attractive off-market investments in Southern California’s high-demand infill industrial market,” said Howard Schwimmer and Michael Frankel, the firm’s co-chief executives, in a statement. The Chatsworth property, a complex consisting of four industrial buildings containing 256,200 square feet on 11.14 acres of land, is located at 9200-9250 Mason Avenue and 9171 Oso Avenue. The site is 100 percent leased to three tenants in the cosmetics industry. GLENDALE Seventy-nine employees with an entertainment industry rental company Full Throttle Films LLC in Glendale will lose their jobs as its new owners restructure the business. The company, doing business as VER, notified the employees on Nov. 14 that they would be let go effective Jan. 13, according to the Worker Adjustment and Retraining Notification filed with the state Employment Development Department. VER, which filed for voluntary Chapter 11 bankruptcy in April, merged with Production Resources Group LLC that same month. Since then, management has worked to align the two businesses to meet new objectives. VER operates from three locations in Glendale – a main office at 757 W. California Ave., a lighting facility at 4844 San Fernando Road and a technical center at 4860 San Fernando Road. The company supplies filmmaking and rigging equipment to the TV, cinema, live events, broadcast and corporate markets. Coworking company Industrious is leasing 24,000 square feet at Granite Properties’ building at 500 N. Brand Blvd., according to The Real Deal. Industrious will occupy the 20th and 21st floors of the 423,900-square-foot tower, with the business set to open in June. The Glendale location, which marks Industrious’ eighth in California and 55th nationwide, will serve as competition against such Tri-Cities coworking hubs as WeWork Burbank at The Tower on 3900 W. Alameda Ave. WeWork leases four floors at the Burbank office building. SHERMAN OAKS A little office building amid the high-rises of Sherman Oaks has sold for $2.7 million, or $1,342 per square foot. Encino-based Capital Realty Solutions Inc. sold the 2,012-square-foot boutique office building, located at 15464 Ventura Blvd. and adjacent to the Sherman Oaks Galleria. Slugged “Wallace Literary,” the building is named after longtime owner and Hollywood multi-hyphenate Randall Wallace, whose credits include studio films “Braveheart,” “Pearl Harbor” and “Secretariat.” Ash Joshi, principal of Capital Realty Solutions, represented Wallace, trustee of the Randall Wallace Family Trust, in the transaction. According to Joshi, the deal represents a record per-square-footage price in the Sherman Oaks office market, which Joshi attributes to the location and neighborhood. “This is truly a rare offering which garnered a lot of interest,” Joshi said in a statement. The Wallace Literary property proved a shoe-in for the undisclosed buyer, who will become the edifice’s new occupant. SUNLAND California Business and Industrial Alliance has filed a lawsuit challenging the constitutionality of the California Private Attorneys General Act, or PAGA. Under the law, employees may file civil suits on behalf of themselves and other workers against companies that fail to follow California’s labor code. The infractions can range from unpaid overtime to minor violations, such as failing to print a business address on employee paychecks. Critics of PAGA say disgruntled employees and opportunistic trial lawyers often use the law to wreak financial havoc on small businesses. The Sunland-based business advocacy group, also known as CABIA, filed the civil complaint on behalf of member businesses against California Attorney General Xavier Becerra. The suit seeks to prohibit Becerra from enforcing PAGA and asks the Superior Court of Orange County to strike down the law. “PAGA, as written and practiced, is unconstitutional,” CABIA wrote in the suit. “With this complaint, we’re asking the state to enforce its own laws – rather than transferring the state’s power to private attorneys who operate for their own personal gain.” TARZANA The Los Angeles City Attorney’s office has filed criminal charges against the owner of a Tarzana commercial property and a tenant for violating asbestos removal regulations. Tzvika Diner and his company, 18434 Oxnard LLC, were charged with one count of disposal of hazardous waste, nine counts of violating state Air Quality Management District rules, and nine criminal counts for AQMD violations, the office of City Attorney Mike Feuer said. Shay Grinberg, the tenant, was charged along with his company Clear Horizon Home Solutions Inc., in Costa Mesa, of one count of disposal of hazardous waste and nine counts of violating AQMD rules, the office added. The complaint against the pair alleges that when Grinberg was remodeling a unit at Diner’s property at 18434 Oxnard St. in November 2017 that an acoustic ceiling in the unit, containing asbestos, was removed in violation of California regulations regarding asbestos emission from demolition and renovation activities. WEST HILLS Hospital Corp. of America has named Mark Miller the new chief executive of West Hills Hospital & Medical Center. Miller previously held HCA executive positions in Florida and Virginia. Most recently, he was chief operating office of Grand Strand Health in HCA’s South Atlantic Division. “Along with his long history and extensive experience at HCA, he brings exceptional leadership skills and hospital administration expertise to West Hills Hospital,” Brian Cook, president of the HCA Far West Division, said in a statement. “We look forward to all he will accomplish in this new position.” West Hills Hospital is a 255-bed facility. SANTA CLARITA VALLEY Realtor Nancy Lulejian Starczyk has been named Santa Clarita Valley Chamber of Commerce chair in 2019, when current board Chair Troy Hooper will step down. Starczyk becomes chair effective Jan. 1, with the installation ceremony taking place Jan. 25. “Nancy has shown through her business accomplishments, community activism and political advocacy work that she is ready and able to continue to move the chamber forward,” Hooper said in a statement. A residential real estate agent for three decades, Starczyk has been a longtime active community leader since the 1980s. She has served before as director of the chamber, president of Southland Regional Association of Realtors and the California Association of Realtors. Starczyk noted that she has big plans as chamber leader in 2019. “My area of passion is advocacy in the governmental affairs arena,” she said. “After serving as government affairs chair for countless years both in (Santa Clarita and San Fernando valleys), it has become ever apparent that working closely with our elected officials makes a difference for our community.” VALENCIA Westfield Valencia Town Center will undergo $20 million in renovations by late 2019, according to a Santa Clarita Valley Signal report. Senior General Manager Corrine Barchanowicz said that, in addition to a new entrance, the retail center will gain a family lounge with children’s play area, updated store facades and an overhaul of the mall’s interior. The goal is to make the environment more family friendly and a “lifestyle destination for the community.” Owner Unibail-Rodamco-Westfield will break ground on the Valencia project in 2019’s first quarter. In September, the company announced a $70 million renovation project at the Westfield Topanga mall in Woodland Hills. VENTURA COUNTY CAMARILLO Salem Media Group Inc. has launched an in-house advertising agency to sell ads on the 116 radio stations and websites owned by the Camarillo-based Christian and conservative media company. In addition to selling traditional radio spots, the agency will use digital marketing tools to create targeted online campaigns for clients at the local and national level. “With consumers spending more and more time on smartphones and tablets, the media landscape has become significantly more complicated for business owners and marketers,” Jamie Cohen, vice president of digital marketing, said in a statement. “The one-size-fits-all marketing approach of just a decade ago has quickly become outdated. Combining the power of Salem Radio with a full-service digital advertising strategy will allow us to go above and beyond in meeting the needs of advertisers around the country.”

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