Main Events

-San Diego-based developer Fairfield Residential will begin construction in December on Warner Place, a 540,000-square-foot residential, retail and office complex at 21221 Oxnard St. in Woodland Hills. Original developer Associated Estates Realty Corp. of Richmond Heights, Ohio was acquired by Brookfield Asset Management in August; Fairfield is Brookfield’s multifamily platform, said Larry Scott, Fairfield Residential senior vice president. He noted that Fairfield Residential developed and manages two Woodland Hills apartment complexes.

-Barrister Executive Suites Inc. has renewed its lease for 17,300 square feet at the Encino Gateway at 15760 Ventura Blvd. The company rents office suites and meeting rooms to corporate users in Los Angeles and San Diego.

-Nestle USA sold a 190,000-square-foot manufacturing facility at 9601 Canoga Ave. in Chatsworth to Synear Food Holdings Ltd. of Zhengzhou City, China, for $15.9 million. Synear makes frozen Chinese dumplings and was a supplier to the 2008 Beijing Olympics. Nestle sold the facility because it moved production of its Hot Pockets out of state last year.

-Securities brokerage Merrill Lynch & Co. has renewed its lease for 16,500 square feet at Encino’s First Financial Plaza, 16830 Ventura Blvd.

-A three-building property totaling 7,200 square feet in Studio City sold to Standard Home Lending, a mortgage firm, for $2.55 million or $354 a square foot. The buildings, at 3751-3759 Cahuenga Blvd., are partly occupied by a television production company, and the buyer will occupy the remainder as an owner-user.

The San Fernando Valley office market gave back more than 100,000 square feet in the third quarter, and the region’s overall vacancy rate rose for the first time in nine quarters...

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