80.3 F
San Fernando
Wednesday, Sep 27, 2023

Briefs: Capstone Turbine, Rexford

Shares of Capstone Turbine Corp. jumped nearly 10 percent Friday after the Chatsworth firm announced it received multiple orders. Capstone, which makes small turbines that run on natural gas, diesel and other fuels, received orders for two C1000 and 25 C65 microturbines from Horizon Power Systems. The company is Capstone’s distributor for turbines used in oil and gas production in the United States and Canada. The current order is for wells in the Permian Basin in west Texas and southeastern New Mexico. No financial information on the order was available. Shares closed up 14 cents, or 9 percent, to $1.73 on the Nasdaq. Rexford Industrial Realty Inc. has acquired a San Fernando Valley industrial property. The West Los Angeles real estate investment trust said it purchased a 31,037-square-foot industrial building near Burbank Bob Hope Airport in Burbank called the Vanowen. It also acquired a 72,000-square-foot industrial facility in Paramount. Both facilities were fully occupied at close and were acquired for a total of $8.3 million. The REIT tapped its existing line of credit to make the purchases. “We purchased both of these buildings in off-market transactions where our relationships and ability to close quickly were decided advantages,” said Co-Chief Executives Howard Schwimmer and Michael Frankel in a statement.

Featured Articles

Related Articles