Michael Aushenker

Staff Reporter

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

Recent Stories

Burbank Multifamily Portfolio Sold for $6.8 Million

Two multifamily properties in Burbank have sold for a combined $6.8 million.

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Toluca Lake Land Parcel Sells for $2 Million

A 9,683-square-foot development site in Toluca Lake has sold for $2 million, or $207 per square foot.

Stevenson Ranch La Quinta Inn’s $22 Million Sale Breaks Brand Record

La Quinta Inn & Suites Santa Clarita – Valencia has sold to a local private investor for $22 million, according to Atlas Hospitality Group, which arranged the deal.

L’Oréal Takes 240,000 Square Feet at Tejon Ranch

L’Oréal USA will house the regional logistics operation of its SalonCentrics subsidiary at the Tejon Ranch Commerce Center in Kern County.

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Westcore Spends $13.8 Million on Moorpark Warehouse

Westcore Properties has acquired a 114,556-square-foot industrial building in Moorpark for $13.8 million from Ventura firm Marcus Adams Capital.

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Designs Revealed for CSUN-Adjacent Student Housing Project

West Los Angeles real estate company Symphony Development and the Los Angeles office of design firm Steinberg Hart have revealed renderings for an apartment building project to address the housing needs for students attending California State University – Northridge.

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UCLA Health Expands at Encino Location

The Regents of University of California – Los Angeles have signed a lease to assume approximately 27,215 square feet of medical office space for UCLA Health.

Sylmar Industrial Property Sells for $6.6 Million

Sun Valley-based Ratner Property Management has purchased a $6.56 million industrial property in Sylmar with an eye to renovate it and upgrade its functionality and market value, according to the brokerage CBRE Group Inc.

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Residential Builder Adds Park to Portfolio

DEVELOPMENT: Firm creates open space as preface to 84-home Sylmar project.

Homebuilder opens park in Sylmar.

‘Moneylady’ for CEOs

Connie Sparks helps money hunters.

Health Systems’ Payrolls Expand Employment

LIST: Hospitals in hiring mode to fill out new buildings and networks.

Ranked by the number of Valley-area employees, companies on the Business Journal’s list of private-sector employers starting on page 13 cover an eclectic range of industries, from supermarkets to aerospace to entertainment.

Industry Clean-Up

SERVICE: Reformers hope a new mandatory state registry will curb labor violations by janitorial contractors.

Janitorial contractors must register.

Banks Turn Out for Housing Trust Fundraiser

RESIDENTIAL: Donors give $50,000 for foster care transition program.

Camarillo-based Ventura County Housing Trust Fund recently held its annual fundraiser in — where else? — Camarillo.

Preview: Convene in Camarillo

Construction has begun on Mian Plaza and Conference Center, a long-gestating project across the street from the Camarillo Premium Outlets.

Northridge Promenade Sells for $16 Million in Online Auction

Northridge Promenade, an 89,473-square-foot shopping center in Northridge, has sold for more than $16 million, according to a real estate firm Cushman & Wakefield.

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City, State Lawsuit Keeps Van Nuys Apartments Affordable

Following a year-long legal battle and a Los Angeles City Council-approved settlement last week, the owner of San Regis Apartments at 15454 Sherman Way in Van Nuys has agreed to charge affordable rates to low-income tenants in 78 units.

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Developer to Inaugurate New Park in Sylmar

A new park will be inaugurated in Sylmar on Monday.

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Amazon to Open Fulfillment Center in Newbury Park

Amazon.com Inc. appears on the cusp of occupying square-footage at a warehouse in Newbury Park, according to a Thousand Oaks Acorn report.

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Colliers Acquires CBC Advisors in Glendale

Colliers International has acquired the Glendale office of CBC Advisors, a Coldwell Banker Commercial affiliate, in an effort to deepen its Tri-Cities footprint.

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Home and Condo Sales Healthy as Resale Prices Climb

Sales of homes and condominiums in the San Fernando and Santa Clarita valleys continued at a solid — if not record-breaking — clip in July, while the median price for condominiums in the Valley hit a record high, according to a Southland Regional Association of Realtors report.

Nuance Communications Signs New Lease in Agoura Hills

Nuance Communications has renewed its lease for 34,256 square feet at 29903 Agoura Road in Agoura Hills.

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Burbank Firm Buys Retail Site, Secures Lease to Harbor Freight

Burbank-based real estate investment firm SBH Real Estate Group Inc. has acquired the retail property at 810-822 S. San Fernando Blvd. in Burbank for $5.25 million in an all-cash transaction, according to the firm.

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Seafood Spot Finds Land In Camarillo

Recession nudged founder into the restaurant business.

Owner of Spencer Makenzie’s Fish Co. lands in Camarillo.

Century 21 Starts Anew With Logo, Rebrand

RESIDENTIAL: Digital takes center stage for marketing at Warner Center event.

Century 21 Peak rebrands itself.

Construction Begins on Camarillo Conference Center

Construction has begun on the Mian Plaza and Conference Center of Camarillo across from the Camarillo Premium Outlets.

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Westfield Topanga Cited in City Report on Tax Breaks for Developers

Los Angeles City Controller Ron Galperin has concluded that the city needs to improve on evaluating and negotiating such deals in which the city awards tax breaks and incentives.

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NoHo Multifamily Site Sells for $3.7 million

NAI Capital completed the sale of a 10,040 square-foot mixed-use development site in North Hollywood for $3.7 million (or $349 per square foot), according to the firm.

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Chatsworth Warehouse Flipped for $28.5 Million

In a low-vacancy warehouse market fueled by e-commerce, a renovated 146,000-square-foot industrial property in Chatsworth has sold for $28.5 million.

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28-Unit NoHo Apartment Breaks Ground

Luxury residential builder FMB Development announced Monday that it will break ground on a new multifamily property at 11436 W. Hatteras St. in the heart of North Hollywood.

Marcus & Millichap Hires President for Finance Operation

Calabasas-based real estate brokerage Marcus & Millichap Inc. has hired David Shillington as the new president of its finance subsidiary, Marcus & Millichap Capital Corp.

Illinois Firm to Manage Tarzana Shopping Center

An affiliate of Illinois real estate investment firm Pine Tree LLC has acquired an indirect interest in Tarzana’s Village Walk and has taken over management of the property.

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Business Journal's Trusted Advisors Awards Recognizes Professionals

Attorneys, business bankers, accountants, insurance professionals and wealth managers filled the Garland Hotel’s banquet room Thursday as San Fernando Valley Business Journal held its 8th Annual Trusted Advisors Awards ceremony and lunch.

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HGTV Buys ‘Brady Bunch’ House in NoHo

Discovery Inc.’s HGTV network has outbid ‘N Sync singer Lance Bass for the Studio City house that served as the exterior for the home in the popular 1970s sitcom “The Brady Bunch.”

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Two Moorpark Housing Developments Slowed

A pair of unrelated housing projects in Moorpark garnered City Council approval last fall with the promise of bringing 379 units of much-needed housing online in Ventura County. However, neither project has advanced much, according to a Moorpark Acorn report.

Q2: Industrial is Tight

A few substantial changes in vacancy rates in the office and industrial sectors while inventory remained low on the industrial side characterized the commercial real estate market during the second quarter, according to statistics provided by Colliers International and conversations with well-placed brokers in the region.

New Normal Office

From Burbank to Westlake Village, the coworking format appeals to small companies and solo professionals who want flex space at work.

For professionals who want to pay only for the square footage they need – whether it be a private suite or simply a desk, coworking has exploded in popularity.

Tutor Perini Subsidiary Wins Burbank Water Line Tunnel Project

Los Angeles County Department of Water and Power identified Tutor Perini Corp., the Sylmar construction company, as the low bidder for a $121 million contract to build a tunnel in Burbank.

Preview: New Normal Office

Coworking locations have proliferated in the Valley region.

Public Storage Drops Despite Quarterly Results

Public Storage shares slumped Thursday despite better-than-expected results for the second quarter.

Valencia Glove Maker Expanding into Big Space

Mechanix Wear Inc. will soon expand into one of the largest commercial developments in the Santa Clarita Valley, according to a CoStar Group report.

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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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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Dave & Buster’s to Open Monday in Northridge

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

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.

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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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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Downtown Moorpark Ready for a Makeover

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

Developer looks to transform Moorpark.

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.

Northrop Puts Up Warner Center Parcel for Sale

Northrup Grumman selling off part of Woodland Hills property.

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