Michael Aushenker

Staff Reporter

Email: maushenker@sfvbj.com
Phone: 818-316-3123

Recent Stories

Promenade 2035 Project Passes Planning Commission With Unanimous Vote

Westfield’s Promenade 2035 project has passed an important milestone after a unanimous vote during its entitlements hearing with the Los Angeles City Planning Commission.

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Marcus & Millichap to Lay Off 175 Staffers

Calabasas-based brokerage Marcus & Millichap Inc. will lay off 175 salaried employees, or 20 percent of its 877-person workforce, as the coronavirus outbreak ripples through the commercial real estate industry.

Westfield’s Woodland Hills, Valencia Shopping Centers to Reopen June 3

Westfield Topanga & The Village in Woodland Hills and Westfield Valencia in the Santa Clarita Valley will reopen June 3.

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SecureSpace Self Storage Opens in Camarillo

SecureSpace Self Storage has announced the grand opening of a new self storage facility in Camarillo.

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Van Nuys Multifamily With 96 Units Sells for $19 Million

A 96-unit apartment building in Van Nuys has sold for just over $19.3 million, or $200,337 a unit.

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Retail Rent Drop

REAL ESTATE: Shopping center owners face lower income and rising costs.

Even prior to the coronavirus crisis, retail centers faced monumental challenges from Amazon.com Inc.-led e-commerce. Now, with the pandemic triggering an unprecedented shutdown of business, many retail tenants — from high-profile national chains to independent business owners — are requesting deferments or abatements on rent, putting landlords in a serious bind.

Multifamily Muddle

RESIDENTIAL: Landlords say new rules promote lawsuits and non-payment of rent.

Since March, the state of California has sought to protect residential tenants from landlord abuse by imposing moratoriums on rent hikes and evictions as they navigate the coronavirus crisis.

Nimble ASGN Thrives Despite Job Market Chaos

STAFFING: Federal contracts, IT work buoy company through crisis.

A solid first quarter and several major government contracts will help ASGN Inc. weather the Coronavirus storm.

Escrow Closes on New Needham Ranch Land

Trammell Crow, Clarion advance on second phase of buildout for industrial park in Santa Clarita Valley.

Trammell Crow and Clarion Partners announced mid-May that they are in the throes of closing escrow on a 137-acre piece of real estate at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.

Near-Record Multifamily Purchase

Ventura County apartments trade for $92 million.

The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to CoStar Group.

Bring on the Units

DEVELOPMENT: Reseda and Canoga Park enjoy surge of apartment building.

The bedroom communities of Canoga Park and Reseda may seem sleepy by comparison to North Hollywood or Woodland Hills, yet there is more going on than meets the eye in these Valley neighborhoods, with new commercial and residential developments, purchases and overhauls in recent months.

Landsea Sells More Houses During Crisis

Developer moves inventory in Chatsworth and Simi Valley.

Landsea Homes continues to make waves in the Southern California residential real estate market with three more houses sold in Chatsworth.

Amazon to Occupy 97,000 Square Feet in Santa Clarita

Amazon.com Inc. is ready for a major Santa Clarita Valley presence.

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Westfield Unveils New Renderings of Promenade 2035

Shopping mall developer Unibail-Rodamco-Westfield has unveiled new illustrations for Promenade 2035, its 34-acre mixed-use complex in Warner Center that will replace the current Westfield Promenade mall.

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Casa Pacifica Appoints Shawna Morris as Chief Executive

Camarillo-based Casa Pacifica Centers for Children and Families, a crisis-care and residential treatment facility for foster or at-risk children, announced Tuesday a transition in its leadership.

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38-Unit Sunland Apartment Complex Sells for Nearly $12 Million

Parkview East Apartments in Sunland has sold for $11.7 million, according to Encino-based Matthews Real Estate Investment Services.

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Valley Home and Condo Sales Drop 47 Percent in April

Stay-at-home orders in April negatively impacted San Fernando Valley’s real estate market, according to a Southland Regional Association of Realtors report, which showed a 47 percent drop in the number of houses and condominiums sold for the month.

Two-Property North Hills Retail Portfolio Sells for $6.3 Million

A retail portfolio of two adjacent parcels totaling 52,260 square feet of land has traded hands in North Hills for $6.3 million.

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Former Weider Building in Warner Center Fetches $12.8 Million

The former home of Weider Health & Fitness in Warner Center has sold for $12.8 million, according to Jim Markel, vice president and regional manager of Marcus & Millichap’s Encino office.

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Conejo Chamber Starts Relief Fund for Small Businesses

The Greater Conejo Valley Chamber of Commerce Foundation, in partnership with the cities of Thousand Oaks, Westlake Village and Agoura Hills, has created a relief fund to help local small businesses endure the financial impact of the COVID-19 pandemic.

Developers Close Escrow on Needham Ranch’s Phase II Land

Trammell Crow and Clarion Partners have closed escrow on a 137-acre parcel of land at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.

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New Rules for Office Tenants

REAL ESTATE: Less demand, more concessions in future.

New market environment for office tenants in a post-pandemic world.

Promise in Panorama City

CONSTRUCTION: Upgrades and apartments dot map in North Valley market.

Panorama City has followed the North Hollywood formula of a former industrial area prime for redevelopment with a residential twist.

Foundation to Preserve Tarzana Orange Ranch

Nonprofit hopes to raise money to purchase land.

The Bothwell Ranch Foundation, a new San Fernando Valley-based nonprofit aimed at preserving the Valley’s last commercial orange grove in Tarzana, has formally launched.

Revised Plan for Campus in Conejo

One Baxter Way residential component remains 240 units.

Developer Kennedy Wilson has submitted new designs for a residential project at One Baxter Way, the Thousand Oaks business park near Westlake Boulevard and the 101 freeway.

Latigo Plans Mixed-Use

Developer secures $59 million to build 299 Thousand Oaks.

A rare and ambitious multifamily endeavor is underway in Thousand Oaks.

Ventura County Apartment Complex Sells for $92 Million

The Artisan at East Village in Oxnard has sold for $92 million, or $339,154 per unit, in one of the highest payouts ever for a Ventura County commercial property, according to a CoStar Group report.

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Valencia Ice Rink Looking for Buyer to Stave Off Closure

For 20 years, Ice Station Valencia has thrived in the heart of Santa Clarita Valley. Today, it faces imminent closure if a buyer does not step forward, according to owner Roger Perez.

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Coronavirus Complicates Sales of NoHo Apartment Building

A 10-unit multifamily property in North Hollywood has sold for $2. 38 million, despite complications from the coronavirus.

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Farmworker Housing Project Moves Ahead in Somis

Ventura County is moving forward on its Somis Ranch project, a housing development designed to provide 360 residential units for farmworkers.

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Van Nuys Apartments Sell for $2 Million

An eight-unit multifamily property at 14533 Dickens St. in Van Nuys has sold for $1.95 million, or $243,750 per unit.

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Nine-Property Multifamily Portfolio Fetches $20 Million

A multifamily portfolio consisting of nine complexes stretching throughout the San Fernando Valley has sold for $20.2 million.

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Thousand Oaks Mixed-Use Project Finds $59 Million in Funding

The Latigo Group has made progress on its Thousand Oaks mixed-use project as Dekel Capital has arranged a $59 million construction loan for the Los Angeles-based developer.

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Space for E-commerce

With the coronavirus crisis encouraging online shopping, companies from Amazon.com to local businesses are in the market for warehouses.

With Amazon.com Inc. leading the way, online retailers are taking up warehouse space in the greater Valley region.

Real Estate Quarterly Submarkets

Real Estate Quarterly Submarkets

Extended Pause for Leasing and Coworking

Real estate firms predict economic disruption in Valley office markets.

Real estate firms predict economic disruption in Valley office markets.

Virtual Leasing

MARKETING: COVID-19 deepens brokers’ utilization of video technology.

Coronavirus pandemic spurs the popularity of using technology to visit rental spaces virtually.

Preview: A Time for E-Commerce

The coronavirus has accelerated the trend toward e-commerce in the Valley economy, with the primary beneficiary Amazon.com Inc.

Head of WarnerMedia to Take Top Job at AT&T

John Stankey, head of WarnerMedia, which includes Burbank-based Warner Bros. Entertainment, will become chief executive of AT&T Inc. by July 1.

Foundation Created to Preserve Tarzana Orange Grove

The Bothwell Ranch Foundation, a new San Fernando Valley-based nonprofit aimed at preserving what was once the Valley’s last commercial orange grove in Tarzana, has formally launched.

Verona Apartment Complex in Westlake Village Sells for $8.2 Million

The Verona, a 16-unit multifamily property in Westlake Village, has sold for $8.15 million, according to listing brokerage Marcus & Millichap Inc. in Calabasas.

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Kennedy Wilson Revises Plans for Apartments at Thousand Oaks Business Campus

Real estate developer Kennedy Wilson has submitted new designs for a residential project at One Baxter Way.

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Granada Hills Residential Portfolio Sells for $25.5 Million

Real estate firm Universe Holdings has acquired a trio of multifamily properties in Granada Hills for $25.5 million.

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Montrose Multifamily Property Sells

Calabasas-based Marcus & Millichap has announced the sale of 2387 Florencita Dr. in Montrose for $3.3 million.

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Reseda Retail Property With Walgreens Sells for $9.3 Million

A 13,000-square-foot retail property, anchored by Walgreens and Yogurtland in Reseda, has sold for $9.3 million.

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Impact on Industrial

REAL ESTATE: Manufacturing could rebound and e-commerce expand; meanwhile, deals dry up.

Industrial property transactions dry up as coronavirus pandemic continues.

Sweet Future

DEVELOPMENT: Limoneira has plans beyond the crisis for its big housing project in Santa Paula.

Limoneira Co. has plans for its big housing project in Santa Paula.

North Hills Motel 6 Sells for $9 Million During Pandemic

The Motel 6 in North Hills has sold for $9 million in a transaction that opened and closed during the coronavirus pandemic.

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Camarillo Strip Mall Sells for $4.8 Million

An 8,000-square-foot retail center in Camarillo has sold for $4.8 million, according to brokerage NAI Capital.

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Ventura County Office Building Sold for $2.1 Million

A 15,800-square-foot office building in Ventura County has sold for nearly $2.1 million.

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