SFV BUSINESS JOURNAL DAILY NEWS

Homes 4 Rent Joint Venture to Build Houses in Las Vegas

A joint venture of American Homes 4 Rent and J.P. Morgan Asset Management has launched its first project to build 34 single-family homes in the Sovana and Spring Valley neighborhoods of Las Vegas.

Valley Home and Condo Sales Drop 47 Percent in April

Stay-at-home orders in April negatively impacted San Fernando Valley’s real estate market, according to a Southland Regional Association of Realtors report, which showed a 47 percent drop in the number of houses and condominiums sold for the month.

Interlink Electronics Reports Fourth-Quarter Loss

Interlink Electronics Inc. reported a net loss and a decrease in revenue in the fourth quarter.

Santa Clarita Opposes Stay at Home Extension for Economic Reasons

Santa Clarita Mayor Cameron Smyth formally opposed the extension of state and Los Angeles County’s Safer at Home Order, citing economic reasons in a letter dated Thursday.

Reports: Clay Lacy Aviation Gets $27 Million Grant From CARES Act

Clay Lacy Aviation received a $27 million federal grant from the stimulus bill passed by Congress, the largest amount received by a private aviation company, according to media reports.

AeroVironment Secures $76 Million Switchblade Contract

AeroVironment Inc. has received a $76 million contract for one year’s worth of purchases by the U.S. Army of its miniature aerial missile system.

Two-Property North Hills Retail Portfolio Sells for $6.3 Million

A retail portfolio of two adjacent parcels totaling 52,260 square feet of land has traded hands in North Hills for $6.3 million.

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Republican Mike Garcia Wins Special Election for Congress

Republican Mike Garcia has won the congressional seat formerly held by Katie Hill, as Democratic California Assemblywoman Christy Smith conceded the election Wednesday.

Valencia Auto Center Reopens With Strong Sales

After eight weeks of mandated closure, car dealerships in the Valencia Auto Center reopened last Friday to strong demand.

Earnings: NetSol Technologies, Velocity Financial

NetSol beat earnings estimates while Velocity missed in its first quarter as a public company.

Former Weider Building in Warner Center Fetches $12.8 Million

The former home of Weider Health & Fitness in Warner Center has sold for $12.8 million, according to Jim Markel, vice president and regional manager of Marcus & Millichap’s Encino office.

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Conejo Chamber Starts Relief Fund for Small Businesses

The Greater Conejo Valley Chamber of Commerce Foundation, in partnership with the cities of Thousand Oaks, Westlake Village and Agoura Hills, has created a relief fund to help local small businesses endure the financial impact of the COVID-19 pandemic.

California Resources Files 'Going Concern' Warning

California Resources Corp. disclosed in a Securities and Exchange Commission filing on Tuesday that there are doubts the company will stay in business, sending its stock down 32 percent.

Cal State University Classes Mostly Online in Fall

The California State University system plans to cancel nearly all in-person classes in the fall and move classes online, Chancellor Timothy White announced Tuesday.

L.A. County Passes Worker Recall, Retention Ordinances

The L.A. County Board of Supervisors on Tuesday passed right to recall and worker retention policies for janitorial, maintenance, security service and hospitality industries, essentially adopting the same measures taken previously by the city of Los Angeles.

Mamba Sports Academy Rebrands

Mamba Sports Academy will drop the “Mamba” from its name and rebrand as Sports Academy, the company announced Tuesday.

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Developers Close Escrow on Needham Ranch’s Phase II Land

Trammell Crow and Clarion Partners have closed escrow on a 137-acre parcel of land at Center at Needham Ranch that will pave the way for the completion of the 252-acre industrial park’s second phase.

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Capstone Sells Turbines to Resort in Bahamas

Capstone Turbine Corp. received an order for two of its microturbines for use at a resort in the Bahamas.

Souplantation Closes Due to COVID-19

Buffet chain Souplantation will permanently close all locations because of the financial effects of COVID-19. It is the first national restaurant chain to shutter due to the pandemic.

Avita Medical to Consolidate Operations in Valencia, Seek Nasdaq Listing

Shareholders of Avita Medical Ltd., an Australian regenerative medicine company with U.S. headquarters in Valencia, will meet virtually on June 15 to discuss relocating operations solely to the United States.