Stories for December 2018

Monday, December 31

Disney, Verizon Reach Deal Before New Year's Kickoff

Walt Disney Co. and Verizon Communications Inc. have reached a deal on the distribution of ESPN and other Disney-owned television channels on the East Coast, according to media reports.

Ventura County Coastal Association of Realtors Installs New Leader

Jorge DeLeón has been elected as incoming president of the Ventura County Coastal Association of Realtors.

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Hyundai Sells First Fuel Cell SUV in Van Nuys

Keyes Hyundai has sold the first Nexo hydrogen-powered vehicle to a Ventura resident.

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Friday, December 28

Kmart in Burbank to Close

Sears Holdings Corp. announced that it will close its Kmart store in Burbank — one of 80 closures nationwide — as the Illinois retailer faces impending bankruptcy.

Land Owner Seeks to Build Apartments in Valley Glen

Michael Fant, the owner of a vacant lot in Valley Glen, has applied with the city of Los Angeles to develop a multifamily complex with retail elements on his property.

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Hawaiian Heritage on Display in Dole’s Rose Parade Float

A division of Dole Food Co. will pay homage to the company’s Hawaiian heritage with its ninth annual float in the Tournament of Rose Parade on New Year’s Day.

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Thursday, December 27

New CEO and CFO at Public Storage

Public Storage announced Thursday that Joe Russell and Tom Boyle will become chief executive officer and chief financial officer, respectively, at the Glendale company on Jan. 1.

Van Nuys 99 Cents Location Sells for $6.7 Million

A single-tenant storefront property leased by 99 Cents Only Stores in Van Nuys has sold for $6.7 million, or $489 per square foot, according to CoStar data.

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Interview Service to Close Lancaster Facility

Interview Service of America LLC is closing its Lancaster call center and transferring the operations to Las Vegas.

Wednesday, December 26

Construction Consulting Firm Purchases Glendale Office Building for $11 Million

A Glendale office building has sold for $11.1 million, or $326.47 per square foot, according to CoStar Group.

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Investors Pick Up Oxnard Big Box Site for $96 Million

A joint venture between Investec Real Estate Cos. in Santa Barbara and DRA Advisors out of New York has acquired the 356,864-square-foot retail center The Esplanade in Oxnard for $96 million, according to a CoStar Group report.

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Hilton Foundation Gives $7M in L.A. County During Fourth Quarter

The Conrad N. Hilton Foundation has awarded more than $38 million in grants in the final quarter of 2018, including more than $7 million to Los Angeles agencies, the Agoura Hills-based foundation announced Monday.

Monday, December 24

L.A. Kings and Partner Buy Burbank Ice Rink

The Los Angeles Kings hockey team and American Sports Entertainment Co. have acquired the Pickwick Ice facility in Burbank.

Hertzberg to Lead State Senate

Sen. Robert Hertzberg of Van Nuys will become majority leader of the California Senate.

Engineering Firm Sells Glendale Warehouse for $21 Million

A Glendale industrial site that is home to Acco Engineered Systems Inc. has sold for $20.7 million, or $689 per square foot, according to CoStar Group.

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Friday, December 21

Cherokee Signs Tony Hawk License Deal

Cherokee Inc. has agreed to license its Tony Hawk apparel line to India clothing distributor Batra Group, the Sherman Oaks fashion brand company announced.

Teledyne Buys Scientific, Industrial Camera Maker

Teledyne Technologies Inc. has acquired the scientific imaging business of Roper Technologies Inc. in a deal valued at $225 million.

$23 Million to Fund East Valley Transit Projects

The city of Los Angeles has received $23 million in state cap-and-trade funding for environmental and zero-emission transportation projects in the Pacoima-Sun Valley area of the San Fernando Valley.

Thursday, December 20

SoCalGas Selects Company Veteran as CEO

Southern California Gas Co.'s new chief executive is Bret Lane, parent company Sempra Energy announced.

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Sasha Baluka Joins Bessolo Haworth

Sherman Oaks accounting firm Bessolo Haworth has appointed Sasha Baluka as a principal.

Movie Prop Firm Leases 90,000 Square Feet in NoHo Warehouse

A major movie studio pros company has leased 89,452 square feet of North Hollywood warehouse space, CBRE Group Inc. announced.

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Santa Clarita Chamber Hosts Year-End Holiday Mixer

About 200 members and guests of the Santa Clarita Valley Chamber of Commerce celebrated the holidays with a year-capping mixer held at Oakmont of Santa Clarita, an eldercare facility at 28650 Newhall Ranch Road.

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Wednesday, December 19

FirstLight Home Care to Open in Santa Clarita

FirstLight Home Care will open a new franchised location in Santa Clarita next year, the Ohio-based company announced Wednesday.

Greater Conejo Chamber Raises $50,000 for Wildfire Relief

The Greater Conejo Valley Chamber of Commerce has donated $50,000 in donations toward the recovery efforts following the Woolsey and Hill fires, and the Nov. 7 shooting at Borderline bar in Thousand Oaks.

Deluxe to Lay Off 68 in Burbank

Deluxe Entertainment Services Group Inc. will lay off 68 employees early next year from two facilities in Burbank.

Tuesday, December 18

Northrop Grumman Site to Host Eldercare Facility

A 1 million-square-foot eldercare facility will be developed on a portion of the 59 acre property at Northrup Grumman’s Woodland Hills site.

Mixed-Use Project to Bring 244 Apartments to Warner Center

Montecito-based Levine Family Properties LLC is proposing to create a 244-unit development at 21201 W. Victory Blvd. in Woodland Hills.

Hertzberg Bill to Lift Taxes on Forgiven Student Debt

California State Sen. Bob Hertzberg will introduce a bill to lift state income taxes on newly forgivable student loan debt, the Van Nuys Democrat announced Tuesday.

Tutor Perini to Build Saudi Air Force Base

A subsidiary of Tutor Perini Corp. has won a contract worth $104 million from the U.S. Air Force to design and construct facilities for the Royal Saudi Air Force, the company announced Tuesday.

Monday, December 17

Design of Fourth Q Building in Warner Center Unveiled

Architecture and design firm Newman Garrison + Partners has released images for its Q East, one of five Q developments in partnership with Canoga Park-based California Home Builders currently under construction in Woodland Hills.

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Gelt Sells Salt Lake City Apartment Complex

Tarzana-based Gelt Inc. has sold a 247-unit apartment complex in Salt Lake City.

AeroVironment Chairman to Sell Portion of Company Holdings

AeroVironment Inc. Chairman Timothy Conver plans to sell a portion of his shares in the company, the Simi Valley drone maker announced Friday.

Friday, December 14

VICA Presents Business, Service Awards at Annual Meeting

About 250 attendees packed the ballroom at the Airtel Plaza Hotel in Van Nuys, where Valley Industry & Commerce Association held its 69th annual meeting.

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Dine Brands Buys 69 Applebee’s Restaurants, Settles Franchise Dispute

Dine Brands Global Inc. has purchased 69 Applebee’s Grill and Bar restaurants from franchisee Apple Gold Group.

Post-Production Firms Atlas Digital and Runway Form Partnership

Burbank post-production company Atlas Digital has partnered with Hollywood-based Runway Inc. to share editing systems, staff and other resources.

Dole Sells European Subsidiaries

Dole Food Co. has sold two of its European subsidiaries to Norwegian produce distributer Bama Group for an undisclosed price.

Thursday, December 13

Business People Protest California’s PAGA Law

A group of business owners, saying they’re fed up with a particular California law, on Thursday morning took a page from labor organizations’ playbook and staged a public protest.

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Cherokee Turns Profit in Quarter Despite Lower Revenue

Cherokee Global Brands reported a profit during its third fiscal quarter despite lower revenues.

Developer Acquires Warner Center Flex Building

Real estate investment firm Bolour Associates Inc. has acquired 21200 Oxnard St., a 52,581-square-foot, single-story flex commercial building on 3 acres in Woodland Hills.

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Mental Health Workers Strike at Kaiser Woodland Hill Medical Center

Kaiser Permanente mental health workers picketed outside the Woodland Hills Medical Center on Thursday as part of a weeklong strike for increased staffing and resources at Kaiser hospitals across the state.

Wednesday, December 12

Restaurant and Bar Nears Completion at Valencia Hyatt

Hyatt Regency Valencia is to open its transformed restaurant and bar in early 2019 as Greater Pacific.

Developers Seek to Bring Senior Units to Camarillo and Moorpark

Unrelated senior planned communities are proposed in Camarillo and in Moorpark, according to a pair of Acorn Newspaper reports.

VICA Applauds Motion to Allow Events at Hangars

The Los Angeles City Council introduced a motion Tuesday to eventually allow events at aircraft hangars on a case-by-case basis.

Westlake Village Medical Building Complex Sells

Welltower has gained a two-building medical office complex totaling 50,000 square feet in Westlake Village, spending $29.95 million on the acquisition, according to a Bisnow report.

Tuesday, December 11

Thousand Oaks State of the City Address Echoes ‘T.O. Strong’ Theme

Before some 400 attendees, Mayor Andy Fox delivered a keynote address at the city of Thousand Oaks’ annual State of the City Address Tuesday, acknowledging heroism and professionalism in the face of last month’s twin tragedies: the Borderline bar shooting, which left 13 dead, and the Woolsey Fire.

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James Cameron Co-Founded School Offers Franchise Opportunities

Muse Global, a school in Calabasas co-founded by filmmaker James Cameron, his wife Suzy Amis Cameron and her sister Rebecca Amis, has entered the franchise market to expand its educational format in the U.S. and internationally.

L.A. County Approves Centennial at Tejon Ranch Project

By a 4-to-1 vote, the Los Angeles County Board of Supervisors voted Tuesday morning to approve the massive Centennial master-planned community project at Tejon Ranch and bring 19,000 new dwellings to the Southern California region.

IHOP Starts Online Apparel Store

In its latest in a series of unconventional branding campaigns, IHOP has debuted an online store where pancake enthusiasts can shop for IHOP-themed clothing and accessories.

Monday, December 10

Limoneira Appoints Executives From Leadership Team

Limoneira Co. has appointed four members of its management team to executive positions, the Santa Paula agribusiness company announced Friday.

CBS Sells Television City, Retains Studio City Production Facilities

With the sale of CBS Television City in L.A.’s Fairfax neighborhood, CBS Corp.’s property in Studio City will become the broadcaster main base of operations in the market.

Cast & Crew Sold to Swedish Investment Fund

Cast & Crew Entertainment Services has been sold by its current private equity owner to a fund owned by a Swedish investment company.

Nine-Home Development Proposed in Lake Balboa

The South Valley Area Planning Commission is considering a proposal to construct a small lot of houses in Lake Balboa, located roughly halfway between Louise and Amestoy avenues.

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Stagnant Economy Ahead for Ventura County

Populace goes elsewhere amid talk of a national recession.

Ventura County’s economy continues to flatline with little signs of improvement, according to economist Matthew Fienup.

Crypto Television

Online news channel will mix technology and human interest stories about digital currency.

The recent drop in value in Bitcoin hasn’t done anything to dissuade Steve Slome and Lee Zuckerman from their next big project in cryptocurrency economics.

The Number: Dec. 10

Thousand Oaks is the No. 12 most affordable city in California to buy a used vehicle this fall, according to a study by Autolist.com, a website for car sellers.

Khloe’s Shop Pops Up in a Glendale Mall

Holiday shoppers can keep up with Kardashian clothes.

Good American, a fashion line co-founded by television personality and entrepreneur Khloe Kardashian of Calabasas, has set up a pop-up shop at the Americana at Brand in Glendale through the holiday season.

Regulations: A Modest Proposal

As we make our way through the holidays, it’s become clear to me that there’s a problem our elected officials need to solve.

Don’t Kill the Growing Gig Economy

With a sigh, I vote for the state Supreme Court’s decision in April that basically outlawed the gig economy in California.

(Re)Inventing Downtown LA’s Urban Core

Commentary

The City of Los Angeles is constantly evolving. People are healthier and living longer, which is fueling our growing population

Disney Outbids Rival for Fox

The deal between Walt Disney Co. and 21st Century Fox to sell the latter’s media assets won’t close for another couple of months but already the deal is making waves in the entertainment industry.

MannKind Contract Yields Cash

MannKind Corp. climbed back from the brink of bankruptcy this year with a $105 million deal to develop a new lung disease treatment.

Tower Sells Despite Nestlé Exit

The 22-floor office tower at 800 N. Brand Blvd. presents an iconic – and in recent months problematic – landmark in downtown Glendale.

Saban to Take Panavision Public

The Valley could have a new high-profile public company with Saban Capital Acquisition Corp.’s purchase of camera company Panavision Inc. in Woodland Hills and Sim Video International Inc. in Toronto.

CRC Consolidates Elk Hills Field

In April, California Resources Corp. purchased portions of the Elk Hills oil field from Chevron Corp. for $460 million and 2.85 million shares of the company’s stock.

Deals of the Year

M&A fever finds fertile conditions in the Valley region.

2018’s largest transactions in the Valley area.

Around the Valleys: Dec. 10

News and notes from the greater San Fernando Valley

New Congresswoman’s Voice

Santa Clarita’s just-elected representative Katie Hill has positioned herself as a pro-business Democrat.

In a mid-term election that shifted the balance of power in the House of Representatives, Katie Hill became the first Democrat to win California’s 25th District congressional seat in more than two decades

Classes Cater to Autistic Students

Online academy trains for tech job market.

Both a company and an academy, Coding Autism trains autistic individuals to find jobs in the technology industry.

A Wireless Fire Warning System

GeoLinks and partners envision state network.

The Camp Fire in Northern California last month resulted in 88 civilian deaths and the destruction of nearly 19,000 structures, making it the worst wildfire in the state’s history.

Rising Real Estate Market Impacts SBA Lending

Borrowers like low down-payments and fixed interest rates on loans.

The Valley region’s red-hot real estate market has helped and hurt Silverio Robledo’s business.

Calabasas CPA Helps Clients Defer Capital Gains

Little-known trust strategy prompts the creation of a new firm.

The high capital gains taxes levied on business and real estate transactions in California often discourage owners from going through with a sale.

Movie Distributor Moves into Digital Comics

Acquisition could add $5 million in revenue to Cinedigm’s top line.

Cinedigm Corp. has been on a roll lately as it adds to its ever-growing streaming services.

HemaCare Opens New Northridge Headquarters

Investors see burgeoning market for blood product provider.

HemaCare Corp. has moved into a new headquarters to give it space to expand its technical capabilities in providing blood products to the cell therapy, biomedical research and drug discovery industries.

Friday, December 7

HemaCare Opens Northridge Headquarters

HemaCare Corp. officially opened it new Northridge headquarters Thursday.

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Preview: New Congresswoman's Voice

Santa Clarita's newly elected representative Katie Hill has positioned herself as a pro-business Democrat.

Preview: 2018's Biggest Deals

Transactions and decisions that changed the Valley region.

VICA Decries City’s Ban on Events in Van Nuys Hangars

The executive committee of the Valley Industry & Commerce Association passed a resolution Friday in opposition to a city of Los Angeles administrative ruling that prohibits public events in hangars at Van Nuys Airport and warehouses across the city.

Erika Endrijonas to Lead Pasadena City College

Los Angeles Valley College President Erika Endrijonas has been selected to lead Pasadena City College by the school’s board of trustees.

Thursday, December 6

Van Nuys Airport to Increase Fuel Delivery Fee

The Los Angeles Board of Airport Commissioners approved on Thursday an increase to the fuel delivery charge at Van Nuys Airport.

Avita Medical Raises $29 Million in Private Offering

Medical treatment company Avita Medical will raise $29 million through the sale of private shares to global institutional investors, the company announced Tuesday.

After 11 Years, 'Kardashian' Home in Studio City Sold

The residence at 11947 Iredell St. in Studio City used in myriad television series sold for $5.25 million.

Jet Skids Off Runway in Burbank

A Southwest Airlines jet skidded off the runway at Hollywood Burbank Airport Thursday morning amid heavy rains.

Wednesday, December 5

Another Q Building Planned for Warner Center

Architecture firm Newman Garrison + Partners has shared its first look at the Q at Erwin, its latest project in a network of mixed-use residential buildings, all called Q, in Warner Center under development by California Home Builders in Canoga Park.

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Kaiser Gives Half Million in Grants to Valley Area Nonprofits

Kaiser Permanente has pledged nearly a half million dollars in grants to Valley area nonprofits to expand community and mental health services.

Valley Bakery Sold to Private Equity Firm

A commercial bakery of pita chips, croissants and bagels has been purchased by a Dallas private equity firm for more than $15 million.

LTC Properties Reports Problem with Renter

A nursing home operator in Texas that leases buildings from LTC Properties Inc. has filed for bankruptcy reorganization, according to LTC. The operator’s rent payments amount to nearly 10 percent of LTC’s revenue.

Scripps Buys Local Media Service Firm

The E.W. Scripps Co. has bought Triton Digital Inc., a local company, for $150 million from private equity firm Vector Capital.

Tuesday, December 4

Valley Stocks Drop in Falling Market

A range of companies headquartered in the greater Valley region suffered falling stock prices Tuesday, pulled down by a market that saw the Dow Jones Industrial Index lose nearly 800 points.

Liberman Broadcasting Files Chapter 11 Bankruptcy

Spanish-language broadcaster LBI Media Inc. has filed for voluntary Chapter 11 bankruptcy protection as it goes through a restructuring.

Former Charles Dunn Brokers Join Lee & Associates

Commercial real estate brokers Stacy Vierheilig-Fraser and Todd Wuschnig have joined Lee & Associates - LA North/Ventura as principals, Lee President Mike Tingus announced.

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Monday, December 3

Report: AeroVironment Moves Headquarters to Simi Valley

AeroVironment Inc. has moved its headquarters to Simi Valley from Monrovia, according to media reports.

Reagan Library Caterer Lays Off Staff After Losing Contract

A catering company is shutting down its satellite office at the Ronald Reagan Presidential Library and laying off 26 employees after losing a contract at the facility.

Rexford Industrial Buys Chatsworth Complex for $29.6 Million

Rexford Industrial Realty Inc. announced Monday that it has acquired two industrial properties for $43.5 million, including one in Chatsworth for $29.5 million, or $115 per square foot.

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