Karen E. Klein

Staff Reporter

Karen covers real estate transactions and development.

Email: kklein@sfvbj.com
Phone: 818-316-3123

Recent Stories

Entrepreneur Offices Make Comeback

Westlake Village suites cater to small, flexible startup tenants.

Executive suites, a market that died in the Great Recession, returns in Westlake Village.

Tech Venture Sees Landlords as Key

REAL ESTATE: Domuso opens door for tenants’ online payments.

Tarzana tech company started by landlords finances renters’ move into apartments.

Glossy Read for the Posh Pot Crowd

Quarterly magazine combines food, drink and marijuana.

Got the munchies? Encino magazine combines food, drink and marijuana for connoisseurs.

City Approves Sportsmen’s Lodge Project

The Los Angeles City Council on Wednesday unanimously approved a developer’s plan to demolish Studio City’s landmark Sportsmen’s Lodge event center and replace it with a nearly 100,000-square-foot outdoor mall.

Ferrari Dealership Planned for Conejo Valley

A Conejo Valley property has sold and is slated to become a new Ferrari automobile dealership.

Local Builder Debuts Van Nuys Subdivision

California Home Builders, a division of Evenhaim Industries Corp. of Canoga Park, held a grand opening Monday at its new, 73-home residential subdivision in Van Nuys.

Developer Bets On Home Run

REAL ESTATE: Cusumano moves on residential project in Burbank.

Burbank native Michael Cusumano doubles down on his home town with plans to build twin high-rise towers.

State High Court Rejects Newhall Ranch Review

RESIDENTIAL: Environmental impact ruling may change development process.

A ruling this month by the California Supreme Court will not only further delay plans for a mammoth Newhall Ranch project, but experts say it might also have a far larger impact on development across the state.

The Number

Burbank – yes, Burbank – makes the top 10 list of local shopping cities this holiday season.

Around the Valleys

News and notes from the greater San Fernando Valley

Lex Reddy will serve as interim chief executive and Pam Hinson as the new chief operating officer for Antelope Valley Hospital.

Tail Lights Make Horses Traffic Safe

High-intensity LED strands provide better visibility for motorists.

Woodland Hills equestrian comes up with tail lights for horses after a near-tragic accident.

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New Industrial Park for Sun Valley

Joint venture purchases 15 acres to put up two Class A warehouse buildings in the East Valley.

American Homes Grows by Acquisition

Agoura Hills-based American Homes 4 Rent, the country’s largest publicly traded single-family home landlord, announced Thursday that it will acquire American Residential Properties Inc., a real estate investment trust based in Scottsdale, in a transaction valued at $1.5 billion.

Burbank City Manager to Retire

Burbank City Manager Mark Scott will retire in February after a 38-year career in local government, the Burbank City Council announced Wednesday.

Marcus & Millichap Expands Advisory Service

Calabasas brokerage Marcus & Millichap, best known for selling apartment buildings, is expanding further into the office and industrial properties sector.

Court Delivers Setback to Massive Newhall Ranch Project

The mammoth Newhall Ranch development, a proposal to build more than 20,000 residences and 5 million square feet of office space over 2,500 acres in the Santa Clarita Valley, suffered a major setback in a court decision released Monday.

Developer Buys Panorama Mall

Los Angeles shopping center developer Primestor Development has purchased the Panorama Mall at the busy intersection of Roscoe and Van Nuys boulevards in Panorama City.

Investor Buys Into Chateau

Investor Zaya Younan makes his first international acquisition, a 17th Century French chateau.

Retail-Residential Site Ready to Roll in Burbank

DEVELOPMENT: Cusumano’s $200 million project set to begin work for 2018 debut.

The Talaria at Burbank, a $200 million mixed-use residential development anchored by a Whole Foods Market, is set to break ground this week at 3401 W. Olive Ave. in the heart of the Burbank Media District.

Around the Valleys

News and notes from the greater San Fernando Valley

A Texas hotel developer purchased a 5.7-acre land parcel along the 101 freeway between Calabasas and Westlake Village for $6.5 million. Huntington Hotel Group of Irving, Texas plans to build two connecting hotels on the Agoura Hills property, offering a total of 225 rooms, said John Battle, principal at Lee & Associates.

Homed-in Tech

Investor looks to open door to simpler real estate deals

A former investment banker thinks he can put residential real estate transactions online.

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Strong Valley Home Sales

Single-family home resale market saw a 6 percent increase in October, due to improving employment picture.

Glendale Campus Sells for $18.7 Million

Two Glendale office buildings, at 1011 and 1015 Grandview Ave., have sold to a reality television production company currently located in Van Nuys.

Agoura Hotels on Horizon

A 5.7-acre land parcel along the 101 freeway between Calabasas and Westlake Village has been purchased by a Texas hotel developer for $6.5 million.

Winnetka Apartments Sell for $4.5 Million

An 18-unit apartment complex in Winnetka has changed hands for $4.53 million, or nearly $252,000 per unit. The sales price for the Chateau Winnetka, at 7315 Winnetka Ave., is one of the highest per-unit sales prices paid in the Winnetka multifamily market, according to real estate data provider CoStar Group Inc.

Around the Valleys

News and notes from the greater San Fernando Valley

Entertainment and sports ticket management firm TicketManager has received $20 million in a second round of funding that will go toward expanding into new markets.

Cruise Line Drops Anchor in Bigger Office Space

LEASE: Viking expands HQ in Woodland Hills with 38,500 more square feet.

Woodland Hills-based Viking Cruises is having a year of expansion. The company, known for its culturally rich river tours, launched its first ocean cruises after taking delivery of the Viking Star, its first ocean-faring ship, in March.

Full Bloom

Eco-conscious home remodeler Treeium rolling in green

Eco-friendly remodeling firm Treeium Inc. is No. 2 on the Business Journal’s fastest-growing list.

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Innovators Pace Field of Fastest Growing Firms

LIST: Technology, Internet businesses outside spotlight continue to dominate.

What drives growth? In a word: innovation. The 50 Fastest Growing Private Companies in the greater San Fernando Valley have not just embraced that concept but applied it throughout their operations and cultures.

Narcotics Anonymous Renews HQ

Narcotics Anonymous World Services, a 12-step peer support group for individuals battling addiction, is renewing its lease in Chatsworth.

Preview: Full Bloom

Don’t expect to find Moty Ginsburg, chief executive of Treeium Inc., swinging a hammer at one of his clients’ home remodeling projects.

Caesarstone Moving to Chatsworth

Manufacturer of quartz-surface kitchen countertops will house 70 employees in 21,500-square-foot, built-to-suit headquarters.

North Hollywood Multifamily Portfolio Sells for $49.5 Million

Transaction illustrates the strength of the multifamily residential market in and around the NoHo Arts District.

Quarter Sinks Marcus & Millichap Shares

Commercial real estate brokerage Marcus & Millichap Inc. reported third-quarter results Thursday that sent its shares lower by nearly 25 percent on Friday.

American Homes Meets Street Forecast

American Homes 4 Rent met analyst expectations for income in the third quarter and exceeded Wall Street forecasts on revenue.

PennyMac Financial Narrowly Misses Estimates

PennyMac Financial Services Inc. narrowly missed analyst expectations for net income and revenue Thursday.

LTC Improves Income, Beats Forecasts

LTC Properties Inc. reported an increase in its third-quarter earnings and exceeded Wall Street expectations on funds from operations.

Colliers' DeGrinis to Lead Broker Organization

John DeGrinis, an industrial properties broker in the Encino office of Colliers International, has been elected president of the Society of Industrial & Office Realtors, Greater Los Angeles chapter. His term will run for two years.

Developers Hope Postal Service Properties Deliver

DEVELOPMENT: Firms think outside box in adapting mail centers to residential.

In the past few weeks, developers have filed plans with the city of Los Angeles to transform two San Fernando Valley post offices into apartment complexes.

Buyer Takes on Towering Eyesore

REAL ESTATE: Quake-wrecked property overdue for makeover.

Longtime eyesore Panorama Tower, empty since the Northridge earthquake, prepares for a makeover.

Around the Valleys

News and notes from the greater San Fernando Valley

Outdoor television and digital signage manufacturer SunBriteTV of Thousand Oaks was acquired by SnapAV, a manufacturer and distributor of audio and video products.

Building Business

Eileen Gould put together career as general contractor in industry with few women practitioners.

Female general contractor Eileen Gould can supervise demolition and pick out wallpaper, too.

PS Business Parks Beats Forecasts

PS Business Parks narrowly beat Wall Street expectations for funds from operations in the third quarter.

Valley Home Sales Post Surprising Gain

Defying the typical seasonal slowdown, home and condo sales increased in September, though median prices continued their slide from summer peaks.

Selleck Buys Chatsworth Building for $5.2 Million

A Chatsworth manufacturing facility that served as the headquarters of the Tamrac company for the past 25 years has been sold to Selleck Development Group of Westlake Village.

Local Businesses Buy Santa Clarita Office Buildings

Two local businesses have purchased headquarters buildings in Santa Clarita’s Tourney Place office complex in separate deals.

Simi Valley Center Sells for Nearly $16 Million

Brokerage CBRE Group Inc. announced today the sale of a Simi Valley shopping center for nearly $16 million.

Around the Valleys

News and notes from the greater San Fernando Valley

Hixme Insurance Solutions Inc. has raised $10.4 million in Series A funding led by Kleiner Perkins Caufield & Byers, a Silicon Valley venture capital firm.

REAL ESTATE QUARTERLY: Trending North

Arts-rich, transit-oriented NoHo is now a hip destination for developers after years of struggling to launch transformative projects.

Construction flourishes in the NoHo Arts District as developers jump on infill opportunities.

REAL ESTATE QUARTERLY: Rare Rise for Vacancy Rate; Sales Activity Up for Smaller Properties

Major office and industrial deals in Valley-area submarkets.

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