SFVBJ Current Edition | San Fernando Valley Business Journal

Landlords Face Rent Shortfall

REAL ESTATE: Owners seek to negotiate if tenants can’t pay.

Deferred payments. Percentage rents. Back-end lease extensions.

Hydrogen companies from around the world including SGH2, Hitachi Zosen Inova and Toshiba are setting up shop in Lancaster, hinting at that area’s potential to become a premier alternative energy hub. Creating a welcoming environment for such companies is a motivator driving longtime mayor and career lawyer R. Rex Parris. SGH2 last year signed a deal with the Antelope Valley city to build a first-of-its-kind plant called S2 that will use a NASA-developed method to incinerate the city’s recycled waste to create hydrogen, which could be used to fuel vehicles. In this interview, Parris says it’s “inevitable” that Lancaster will be known as a hydrogen hub and explains why he’s a big believer in alternative energy.

App-Less Food Delivery Helps Profit Margins

RESTAURANTS: DIY operators avoid DoorDash and the like.

Frank Howell is something of an anomaly. He’s a local restaurateur who didn’t join the lockdown-induced rush to allow services such as GrubHub and Postmates to deliver his food to customers.

AROUND THE VALLEYS

A Retail Short Circuit

Fry’s Electronics permanently closes but leaves a legacy of thematic store design.

REAL ESTATE FOCUS

Investor Sells Southern Multifamilies

IMG gets $30 million for pair of properties in Raleigh.

The coastal Southern states are proving to be big business for one Warner Center group.

Will Suburbia Fill With Future Satellite Offices?

Banc of California executive foresees companies setting up operations in L.A.’s outlier markets.

Less offices, less commuting, less community density. That is the upshot of the post-pandemic predictions of Hamid Hussain, president of commercial real estate at Banc of California.

PS Business Parks Names New CEO

Shopping center executive to lead industrial REIT.

Glendale-based PS Business Parks Inc. has appointed Dan “Mac” Chandler III as the company’s chief executive officer, effective April 5.

Curtains Close IN NoHo

Pandemic and rising rents force small venues out of business.

A year after the coronavirus pandemic put a pause on the performing arts, five live theaters in the heart of North Hollywood are closing their curtains for good.

The Valley’s Streaming War

Three local movie studios plus Netflix battle for subscribers in entertainment’s online frontier.

It is a war without a battlefield or weapons – but a war nonetheless.

CloudNine to Make Hangars Arise in Camarillo

Location to serve Valley, Malibu and Santa Barbara.

After several months of delay due to the coronavirus pandemic, RKR Inc. finally broke ground on its CloudNine hangar development at Camarillo Airport.

Sun Air Takes More Space at Van Nuys Airport

Firm offers flexible services and leases to plane owners.

Sun Air Jets has expanded its presence at Van Nuys Airport by securing two new hangar and terminal facilities at the general aviation airfield.

Order for Burgerim Founder to Pay

Regulators find franchiser violated state rules.

The state has ordered fast casual burger chain Burgerim to refund tens of millions of dollars in franchise fees paid by more than 1,500 would-be restaurant operators after finding the Encino company violated California’s franchise regulations.

New Tenants at Tejon Ranch’s Park

Retailers Ikea, Camping World lease warehouses.

For retail suppliers and West Coast distributors, the Tejon Ranch Commerce Center 45 miles north of Santa Clarita is looking more attractive than ever in the wake of the coronavirus pandemic.

Theme Park Stores Open

Disney and Universal resume shopping, dining.

NBCUniversal’s Universal Studios Hollywood and Walt Disney Co.’s California Adventure theme parks are reopening shops and restaurants as state regulations promise the reopening of all theme parks at limited capacity as soon as April 1.

Second Sight Gets FDA’s Green Light

Sylmar biotech’s share price skyrockets on approval.

After U.S. Food and Drug Administration approval of its Argus IIs Retinal Prosthesis System on March 5, Second Sight Medical Products Inc. enjoyed an explosive stock surge, with shares gaining by 1000 percent in the next three days.

Amgen Builds Cancer Pipeline for $1.9 Billion

Acquisition bolsters the pharma giant’s oncology portfolio, expands international market presence.

Biotech giant Amgen Inc. intends to make its oncology pipeline more robust with a $1.9 billion cash acquisition of Five Prime Therapeutics, the company announced March 4.

Kaiser Opens Mass Vax in Lancaster

Health system’s deal to help hard-hit Antelope Valley.

A mass vaccination site announcement and hospital visitation allowances are positive trends for the Antelope Valley region, both of which went into effect on March 8.

Federal Spending Bodes Well for Tutor Perini

CONSTRUCTION: Bill opens opportunities to bid on new infrastructure projects.

The Biden Administration may be good for Tutor Perini Corp.

Hospital Grows Up

HEALTH CARE: Henry Mayo seeks to add a 80-foot tower to its Valencia campus.

More than a year after celebrating the opening of its six-story patient tower, Henry Mayo Newhall Hospital plans to expand again, this time with a second patient tower and diagnostic facility – without adding any beds.

NFL Star Launches Upscale Card Shop

Westlake Village store sells Magic: The Gathering, Pokemon products.

From pigskin to Pokemon: Pro football player Cassius Marsh has a new game – a new card shop in the Conejo Valley.

Digital Marketer Accepting Bitcoin

Thousand Oaks agency’s clients find convenience in cryptocurrency.

Thousand Oaks digital marketing agency Dymic Digital will integrate Bitcoin into its day-to-day operations.

IHOP’s New Marketer

The IHOP restaurant chain has named Kieran Donahue as chief marketing officer.

Local Businesses Hotbed of Support for Recall

RETAIL: Newsom’s restrictions fuel signature campaign.

A strong contingent of business owners in the San Fernando Valley want to see Gov. Gavin Newsom lose his job because of policies during the COVID-19 pandemic, particularly his stringent business restrictions.

Acquisition of Shipping Firm

FULFILLMENT: Moulton Logistics bought by East Cost Firm.

“But wait – there’s more!” The memorable catchphrase from direct response television ads is part of the culture at Moulton Logistics Management Inc., which for years worked in conjunction with pitchman Ron Popeil.