Stories for July 2018

Tuesday, July 31

Anthem Blue Cross to Relocate in Warner Center

Anthem Blue Cross is relocating to more than 169,000 square feet in the Campus at Warner Center complex.

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Blue Microphones Acquired for $117 Million

Computer accessory company Logitech Inc. has purchased Westlake Village microphone manufacturer Blue Microphones Holdings Corp. for $117 million in a cash deal finalized on Tuesday.

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Antelope Valley Hospital Bond Measure Makes Ballot

A $350 million bond measure that would pay for renovations or the creation of new facilities at Antelope Valley Hospital was unanimously approved on Monday by the Lancaster hospital’s public benefit corporation board for inclusion on the Nov. 6 ballot.

Dole Completes Merger with Total Produce

Dole Food Co. finalized its merger with European fresh produce distributor Total Produce Tuesday in a $300 million deal.

Monday, July 30

Baskin-Robbins Opens 8,000th Store in Thousand Oaks

Ice cream chain Baskin-Robbins opened its 8,000th store in Thousand Oaks on July 25.

Salem to Replace Music Countdown Host

Shares of Salem Media Group moved higher Monday after the company announced it will replace Jeff Steele, host of its Singing News Radio Network’s countdown show for Southern Gospel music, with radio personality Rodney Baucom.

Needham Ranch Begins Vertical Construction

Commercial real estate developer Trammell Crow Co. and real estate investment manager Clarion Partners have announced that vertical construction has commenced on phase one of The Center at Needham Ranch.

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Friday, July 27

iPayment to Lay Off 30 in Westlake Village

Credit card payment services provider iPayment Holdings Inc. will lay off 30 employees from its Westlake Village headquarters in September, according to the company and the state Employment Development Department.

Dave & Buster’s to Open Monday in Northridge

Dave & Buster’s will open to the public on Monday in the Northridge Fashion Center.

Metro Board Approves Orange Line Upgrades

The Los Angeles County Metropolitan Transportation Authority board has approved improvements to the Orange Line busway in the San Fernando Valley.

Disney, Fox Shareholders OK Acquisition

Shareholders of Walt Disney Co. voted to approve Friday morning the acquisition of the media assets of 21st Century Fox.

Thursday, July 26

Amgen Announces Quarterly Results, Exec Retirements

Amgen Inc. beat Wall Street estimates on second-quarter earnings and revenue.

New Chick-fil-A Opens in West Hills

Chick-fil-A opened a new restaurant Thursday at 6400 Fallbrook Ave. in West Hills.

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Thousand Oaks Biotech Sells Drug Portfolio for Up to $562 Million

AliveGen Inc. in Thousand Oaks has sold its drug candidates to Biogen Inc. in a deal valued at up to $562 million.

Stars of the Valley Award Honorees Announced

Former Los Angeles Laker superstar Derek Fisher, Maria’s Italian Kitchen founder Madelyn Alfano and the autism-animation nonprofit Exceptional Minds are among the honorees at the 21st annual 2018 Stars of the Valley Awards in September.

Wednesday, July 25

Interlink Logs Medical Customer Order

Interlink Electronics Inc. received an order valued at $880,000 from an existing medical customer.

Sun Air Jets Renews Lease in Van Nuys

Sun Air Jets will continue occupying two hangars at Van Nuys Airport through 2030 in an agreement with Aeroplex/Aerolease Group.

Rexford Buys $22.5 Million Entertainment Industry Warehouse in Pacoima

Rexford Industrial Realty has purchased a 122,868-square-foot industrial building in the north San Fernando Valley submarket of Pacoima for $22.5 million.

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Personal Care Manufacturer Signs Van Nuys Lease

Personal care product company Jocott Brands has signed with PGIM Real Estate to absorb 64,100 square feet at the Lewis Business Center at 8000 Woodley Ave. in Van Nuys.

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Tuesday, July 24

Former Bank Exec Takes Marketing Role at Universal Studios

A former executive at Wells Fargo & Co. has been named the new chief marketing officer at Universal Studios Hollywood.

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Report: Intuit Shrinks Presence in Woodland Hills

Financial software developer Intuit Inc. is cutting back on its leased space in Woodland Hills as it relocates this fall.

Avery Dennison Shares Jump on Upbeat Earnings

The stock price of Avery Dennison Corp. spiked more than 10 percent Tuesday following the release of the firm’s second-quarter financial report, which disclosed earnings that beat Wall Street estimates by 11 cents a share.

Mission Valley Bank Earnings Dip in 2018

Mission Valley Bancorp announced earnings for the first half of 2018 of $2.17 million, a slight decrease from the $2.21 million posted last year.

Monday, July 23

Simulations Plus Subsidiary Gets NIH Grant

Dilisym Services Inc., a subsidiary of Simulations Plus Inc. in Lancaster, has been awarded a $1.7 million grant from the National Institutes of Health to build a software platform for modeling medication-induced kidney injury.

Beverly Grove's Andre’s Italian to Open Second Restaurant in Canoga Park

A pending development in Los Angeles’ Fairfax District has prompted Andre’s Italian Restaurant, a renowned casual dining spot at Town & Country Shopping Center at Fairfax Avenue and Third Street, to open a second restaurant in the Valley.

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Tix Corp. Refutes 'Poison Pill' Tactic

Tix Corp. has rejected a claim by a major shareholder that he has triggered a “poison pill” provision in shareholders rights plan, the company announced Monday.

Rex Real Estate Offers Buyback Guarantees

Online brokerage firm Rex Real Estate has expanded its offerings with a 30-day home buyback guarantee.

Northrop Puts Up Warner Center Parcel for Sale

Northrup Grumman selling off part of Woodland Hills property.

Opportunistic Rebrand

TECHNOLOGY: Newbury Park software firm changes name to reflect focus on health care.

Software firm changes name to reflect health focus.

Smart Heart Monitor

Abbott’s Confirm Rx device sends data to doctors using a Bluetooth connection and a smartphone.

Abbott Laboratories’ new heart monitor.

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Euro TV Producer Takes Interest in Shushybye

ANIMATION: Children’s show targets expanding market of toddlers, preschoolers.

European company to produce children’s program.

Cure Pharmaceutical Buys Cannabis Drug Firm

ACQUISITION: Therapix’s products fit company’s delivery system.

Oxnard company buys pipeline of cannabis-based drugs.

Senior Services and Children’s Charities Combine

NONPROFIT: OneGeneration acquires Grandparents as Parents in non-cash deal.

San Fernando Valley nonprofits merge.

List Profiles: Largest Public Companies

Six profiles of companies that rank on our 2018 Largest Public Companies list

Vibrant Economy, Trade Worries Tug on Stocks

LIST: In contrast to last year, market rewards small cap companies.

Market volatility affects Valley companies.

Developer Makes Splashy Debut in Simi Valley

RESIDENTIAL: 211 new houses add to limited Ventura County inventory.

Home developer Landsea Homes has found instant success in Simi Valley.

Downtown Moorpark Ready for a Makeover

DEVELOPMENT: High Street Depot to create plaza plus commercial tenant space.

Developer looks to transform Moorpark.

Skateboard Utopia

Casual kids and emerging pros gather at Skatelab in Simi Valley.

Skatelab in Simi Valley.

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Around the Valleys

News and notes from the greater San Fernando Valley

Calendar

Calendar of Events for July 23 - August 5, 2018

Most Disliked by ‘Influentials’? Traffic

What do business leaders think is the worst single thing about living and doing business in the Valley area?

It’s Time to Sit Up and Pay Attention

I once saw a T-shirt that proudly declared, “I put the ‘pro’ in procrastination.”

NASA Grant Pushes Frontier into Deep Space

AEROSPACE: R&D firm will seek low-cost propellants.

Simi Valley company gets NASA grant to develop deep space oxidizer.

Marijuana Map: Illegal Shops

RETAIL: Amid crackdown, neighbors cite odor, rent hikes.

Businesses not happy with illegal pot shops.

Car Detailers Descend on Air Museum

Valley pros join crew to polish aluminum on vintage planes.

Valley auto detailers clean historical aircraft.

The Number

What it means to be wealthy in Los Angeles.

$2.8 Million Threshold to be ‘wealthy’ in Los Angeles

Friday, July 20

L.A. County Unemployment Rises to 4.5 Percent

L.A. County’s unemployment rate edged up to 4.5 percent in June as more county residents were looking for work, according to state figures released Friday.

Avita Medical Builds Leadership Team

Avita Medical has appointed three new leaders to its management team at its Valencia headquarters.

Preview: Smart Heart Monitor

A paperclip-sized revolution in cardiac electrophysiology is afoot in a bright white lab at Abbott Laboratories in Sylmar, where the world’s first Bluetooth- and smartphone-enabled implantable cardiac monitor are coming off the assembly line.

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Preview: Marijuana Map: Illegal Shops

As city of Los Angeles cracks down on dispensaries, neighbors complain of odors and potential rent hikes.

Thursday, July 19

Tix Shares Pop on Talk of MGM Buyout

Tix Corp. is in talks with MGM Resorts International to sell off its outstanding shares to the global hospitality company.

Amgen Partners with Cedars-Sinai on Research

Amgen Inc. has entered into a three-year research partnership with Cedars-Sinai Medical Center in Los Angeles to assess health outcomes in patients with cancer, osteoporosis, cardiovascular disease and migraine.

Disney Wins Bidding Battle for Fox Assets

Shares of Walt Disney Co. closed up more than 1 percent Thursday after Comcast Corp. pulled out of a bidding war for the media assets of 21st Century Fox.

Valley Region Airports Receive $25 Million in FAA Grants

Airports in the San Fernando and Antelope valleys are receiving grants from the Federal Aviation Administration totaling about $25 million for repair and reconstruction projects.

Wednesday, July 18

Simi Valley Warehouse Changes Hands

A nearly 40,000-square-foot industrial building at 167 W. Cochran Street in Simi Valley has sold for $7.3 million.

LTC Buys Two Senior Living Communities

LTC Properties Inc. in Westlake Village has purchased two senior living communities in Texas in a $25.2 million sale-leaseback acquisition.

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On-Location Filming in L.A. Drops in Quarter

On-location film, television and commercial production decreased by more than 5 percent in the second quarter compared to a year ago, according to figures released Wednesday by FilmL.A.

Tuesday, July 17

Align Aerospace, Ball Corp. Sign Industrial Leases in Chatsworth

California Realty Group closed a pair of separate leases in June at a Chatsworth industrial site.

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$1 Billion Transformation for Warner Center Corporate Park

Adler Realty Investments has plans for a $1 billion transformation of Warner Center Corporate Park at the intersection of DeSoto Street and Burbank Boulevard in Woodland Hills.

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Santa Clarita Reports Annual Film Growth

The city of Santa Clarita recorded for a fifth year in a row more than 500 film permits for on-location filming within its borders.

IHOP Launches Meal Delivery Partnership

IHOP has launched a new delivery service at more than 300 U.S. locations through a partnership with on-demand delivery app DoorDash, the Glendale-based restaurant chain announced Tuesday.

Monday, July 16

First Moorpark Hotel in a Century Underway

Construction has begun on a four-story, 108-key Marriott hotel in Moorpark in what is being heralded as the community’s first hotel in nearly a century.

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Glendale Mayor to Chair Airport Authority

The Burbank-Glendale-Pasadena Airport Authority elected Zareh Sinanyan as its new president for the coming year.

Salem Media Revamps Music Radio Lineup

Salem Media Group has revamped the programming lineup for its Nashville flagship station and nationally syndicated music programs, the Christian and conservative media company announced Monday.

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Chatsworth Residents Sentenced for $20 Million Mortgage Fraud

Three Chatsworth residents who owned or managed foreclosure rescue companies were sentenced Monday for their roles in a mortgage fraud, the Department of Justice announced.

Friday, July 13

Senior Veterans Housing Complex Underway in Sun Valley

East L.A. Community Corp., in collaboration with New Directions for Veterans, YM Architects and Westport Construction, has begun building the $34.5 million Sun Valley Senior Veterans Apartments.

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Princess Cruises to Host Slot Tournaments

Princess Cruises has partnered with the makers of Monopoly-themed slot machines to host tournaments on hundreds of cruises this year, the Santa Clarita-based company announced Friday.

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VICA Condemns Rent Control Proposition

Valley Industry and Commerce Association President Stuart Waldman has joined business leaders in Sacramento to oppose a state proposition that could pave the way for stronger rent control laws in cities throughout California.

MannKind Pays Down Debt With Shares

MannKind Corp. in Westlake Village has issued 7.3 million shares to creditor Deerfield to pay down $7 million in debt, according to Securities and Exchange documents filed Friday.

Thursday, July 12

L.A.'s Annual Inflation Rate Drops

The local inflation rate dipped to 4 percent year-over-year in June as gas and food prices slipped slightly in recent weeks, according to federal data released July 12.

Waste Management, Agromin to Refurbish Turf at Lancaster Soccer Center

Waste Management of Antelope Valley and Agromin are partnering to fix the turf at Lancaster’s Gilly National Soccer Center.

Avery Dennison to End Pension Plan

Avery Dennison Corp. will discontinue its pension plan effective Sept. 28, according to a Securities and Exchange Commission filing by the company.

Wednesday, July 11

Cure Pharmaceutical Buys Therapix Assets

Cure Pharmaceutical in Oxnard announced Wednesday that it has signed a term agreement for the acquisition of the non-pain assets of Therapix Biosciences Ltd., a clinical-stage pharmaceutical company that is developing cannabinoid-based medications.

Simi Valley’s Mountaingate Plaza Sold for $51 Million

HFF Orange County has sold Mountaingate Plaza, a 281,240-square-foot Simi Valley shopping center, for $51.1 million, according to a source close to the company.

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Disney to Broadcast eSports Competitions

Walt Disney Co. will air video game competitions on ESPN and Disney XD starting this month after signing a multi-year agreement with Blizzard Entertainment Inc.

B. Riley Financial Names Co-Chief Executive

B. Riley Financial Inc. has made new appointments to key executive positions including co-chief executive, the Woodland Hills financial services firm has announced.

Tuesday, July 10

Simulations Plus Beats Wall St. on Revenue

Simulations Plus Inc. reported on Tuesday profits of $2.4 million for its third fiscal quarter.

Warner Bros. Proposes Sky Tram to Hollywood Sign

Warner Bros. Entertainment is proposing a $100 million aerial tram to take visitors to the Hollywood sign in Griffith Park.

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Santa Clarita to Consider Sites for Amphitheater

Santa Clarita Valley is one step closer to having its own amphitheater.

NetSol Signs Asian Auto Finance Client

NetSol Technologies Inc. signed an agreement to provide its software to a leading Asian auto captive finance company.

Monday, July 9

United Chambers Issues Statement of Support for Westfield's Promenade 2035 Project

The United Chambers of Commerce of the San Fernando Valley and Region has issued a statement of support for the Westfield Promenade 2035 Project as it enters its environmental impact review phase, the organization announced Monday.

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IHOP Reclaims Name, Ends IHOb Campaign

The Glendale-based restaurant announced Monday on Twitter that it has changed its name back to IHOP.

Thousand Oaks Senior Housing Complex Sold in $382 Million Portfolio

MBK Senior Living has acquired nine senior housing communities totaling 1,174 units in a $382 million deal with West Partners.

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Moorpark Commission Approves Assisted Living Development

Oakmont Senior Living’s plans for a two-story assisted living and memory care center is heading to the Moorpark City Council for final approval in August.

Bar Association Re-Opens Mediation Center

COURTS: Judges can refer cases to Tarzana service for low-cost resolution.

Bar Association opens mediation center.

B. Riley Combines Wealth Management Shops

ADVISORY: New name and rebranding effort to be complete later this year.

B. Riley Financial renames, rebrands subsidiary.

Women Owners Emphasize Career-Long Learning

LIST: Seminars, classes, mentorships and webinars develop leadership style.

Female entrepreneurs discuss leadership styles.

Women Entrepreneurs: #10 Nancy Lazkani

Founder & Chief Executive, Icon Media Direct Inc. Sherman Oaks

The List: Women-Owned Businesses profiles

Women Entrepreneurs: #16 Mitzi Like

Chief Executive, LBW Insurance and Financial Services Valencia

The List: Women-Owned Businesses profiles

Women Entrepreneurs: #18 Kim Frankel

Chief Executive, Abacorp CNC Machined Parts Chatsworth

The List: Women-Owned Businesses profiles

Women Entrepreneurs: #23 Lindsey Carnett

Founder & Chief Executive, Marketing Maven Public Relations Camarillo

The List: Women-Owned Businesses profiles

Women Entrepreneurs: #27 Michelle McCue

Chief Executive, McCue Communications Burbank

The List: Women-Owned Businesses profiles

Women Entrepreneurs: #34 Carrie Nebens

President, Equis Staffing Calabasas

The List: Women-Owned Businesses profiles

Crowd Wowed by Warehouse in Sun Valley

DEVELOPMENT: Delivery tenant eager to move into scarce industrial space.

Tenant moves into Sun Valley industrial space.

Retail Landlords Look to Repurpose Big Boxes

LIST: Traffic strategy shifts from department stores to gyms and theaters.

Mall owners repurpose space.

Around the Valleys

News and notes from the greater San Fernando Valley

Calendar

Calendar of Events

Why Not Flip Retail to Residential?

I wasn’t surprised by last week’s announcement that the Sears store in the Janss Marketplace in Thousand Oaks will soon close.

PAGA’s Real Winners: Not Workers

Google has been voted one of the best companies in the country to work for.

Conejo’s Biotech Cluster

Atara Biotherapeutics opens ATOM center in Thousand Oaks

Atara Biotherapeutics adds to its Conejo Valley presence with new building.

Railyard Spot A Hot Button

TRANSPORTATION: Metro decision grieves firms forced to move.

Metro approves light rail project for Van Nuys, potentially displacing businesses.

Fast Food Exec Turns To Biscuits

Franchisee targets Valley with Southern breakfast fare.

Franchisee to open biscuit stores in Valley.

Journal Repeats Gold Award Win

Judges credit content variety, headlines and graphic design.

Business Journal wins gold awards.

Vet Housing in AV

CONSTRUCTION: Architects, nonprofit partner on 75-unit project to address homelessness.

Housing for veterans in Lancaster.

Debt Load Could Derail Cherokee’s Longevity

APPAREL: Shares of the Sherman Oaks licensing company have dipped.

Cherokee Inc. faces liquidity issues.

Internet in the Sky

Airborne Wireless Network thinks commerical planes with antennae could provide broadband to isolated users.

Simi Valley company creating broadband network with airplanes.

Priority Fundraiser

Brigette Loden left a career in securities to run nonprofits. Now she applies her finance skills to fund Valley charities.

Profile: Brigette Loden of Community Foundation of the Valleys.

Hackers Work Together to Help Israeli Tourism

EDUCATION: Students seek to teach airline travelers about nation’s culture.

Hackathon focuses on Israeli tourism.

Friday, July 6

Virgin Galactic to Provide Italian Spacecraft

Virgin Galactic and affiliated manufacturing firm Spaceship Co. announced Friday signing an agreement with two Italian companies to bring spaceflights to the European country.

L.A. County Selects Leadership for Bioscience Promotion Agency

Los Angeles County has appointed two executives to launch a new agency to promote the bioscience industry, officials announced July 5.

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Preview: Conejo's Biotech Cluster

Atara Biotherapeutics opens ATOM center in Thousand Oaks.

Preview: Internet in the Sky

Airborne Wireless Network thinks commercial planes with antennae could provide broadband to isolated users.

Thursday, July 5

AeroVironment in Development on NASA Mars Drone

AeroVironment Inc. is developing a helicopter drone that will fly on Mars.

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Amgen Sues Competitor Over Sensipar Generic

Amgen Inc. in Thousand Oaks has filed a lawsuit against drugmaker Intas Pharmaceuticals Inc. and its subsidiary Accord Healthcare Inc. over its plans to manufacture a generic of Amgen’s medication Sensipar.

Three-Unit Multifamily in Van Nuys Sells for $1.1 Million

Real estate brokerage Marcus & Millichap has announced the sale of 17326 Cantlay St., a three-unit apartment property located in Van Nuys. According to James Brian Markel, regional manager of the firm’s Encino office, the asset sold for $1.1 million. Senior Vice President Investments

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Tuesday, July 3

BlackLine Bolsters its Asia-Pacific Presence

Blackline Inc. in Woodland Hills has announced the appointment of an executive to oversee the company’s expansion into the Asia-Pacific region.

CSUN Appoints New Athletic Director

California State University – Northridge has appointed Michael Izzi as its new athletic director, CSUN President Dianne F. Harrison announced Monday.

City Council Urges Kaiser to Keep NoHo Jobs

The Los Angeles. City Council has unanimously passed a resolution urging Kaiser Permanente not to cut 306 jobs in Los Angeles, including 34 positions at a laboratory in North Hollywood.

Monday, July 2

State Creates Janitorial Company Registry

Beginning July 1, all janitorial service providers and contractors are required to register with the state of California on an annual basis. Failure to do so will result in fines, the state’s labor commissioner’s office announced Monday.

Sears Store in Thousand Oaks to Close

The Sears department store at the Janss Marketplace in Thousand Oaks will close this fall.

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Food Broker Co-Sales Acquired by Impact Group

Retail sales agency Impact Group Inc. has acquired Sherman Oaks-based food broker Co-Sales Co. for an undisclosed amount, the company has announced.

Valley Studios Bring TV Shows Back to California

Two television series from San Fernando Valley production companies will relocate to Los Angeles after receiving more than $15 million in California tax credits.

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