Michael Aushenker

Staff Reporter

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

Recent Stories

Glendale's Doran Lofts Sell for $12.6 Million

A private investor has acquired the Doran Lofts apartments in Glendale for $12.6 million.

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Northridge Multifamily Complex Acquired for $14.9 Million

Champion Real Estate Co. has acquired Valleywood Apartments, a 42-unit multifamily property in Northridge, for $14.9 million.

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NoHo Arts District Apartments Sell for $2.3 Million

An apartment complex with eight units in North Hollywood has sold for $2.3 million to an undisclosed buyer.

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Gelt Pays Nearly $146 Million for Denver-Area Apartments

Tarzana investment and property management firm Gelt Inc. has significantly expanded its Denver region apartment portfolio by 472 units by paying nearly $146 million the Kallisto at Bear Creek complex.

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City of Los Angeles Buys Valley Flex Property

The city of Los Angeles has acquired a flex complex in Sylmar for $28 million.

Gehry, Governor Break Ground for Warner Bros. Burbank Offices

The Governor of California, the world’s most famous living architect and the new chief of Warner Bros. Studios gathered in Burbank on Tuesday for the groundbreaking of Warner Bros. office complex.

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Pair of Flex Buildings in Burbank Sell for $16.5 Million

A pair of research-and-development flex buildings in Burbank have sold for $16.5 million.

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Study: 2019 a Record Year for Hotel Development

The Atlas Hospitality Group 2019 Year-End California Hotel Development Survey found last year set a new record for the number of California hotel rooms opened.

Ten-Unit Apartment Building in Toluca Lake Sells for $3.6 Million

A 10-unit multifamily property in the Toluca Lake submarket has sold for $3.6 million, nearly half a million dollars above its listed price, according to Lee & Associates-LA North/Ventura.

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Delivery Company Expands in San Fernando

A delivery service capitalizing on the growing e-commerce environment has signed on for a larger space at San Fernando Business Center, a 33-acre industrial business park in the city of San Fernando.

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Westfield Topanga to Redevelop Former Sears Building as Entertainment District

Unibail-Rodamco-Westfield announced Tuesday that it will transform a former Sears building into a new dining and entertainment district at its Westfield Topanga & The Village shopping center in Woodland Hills.

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Burbank Music Studio Sells for $3.4 Million

A private owner/user has purchased a music studio in Burbank for $3.35 million.

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Deerlake Ranch Looks Upscale in Chats worth

Home prices range from $1.1 million to $1.3 million.

Landsea Homes’ newest community, Crestley at Deerlake Ranch in Chatsworth, officially opened to the public Dec. 21 with the rollout of three single-family homes — each representing one of the three floorplan models available for purchase as well as the three architectural styles offered: Spanish, Farmhouse and Arts & Crafts.

Valley’s Only Michelin Star Restaurant

Sushi spot serves $100-a-plate meals in 900 square feet.

When it comes to commercial real estate, Encino has an idiosyncratic energy. There’s the mini-Caruso entity called Encino Marketplace. There’s the unrelated Encino Place, a retail center which actually borders Sherman Oaks at Ventura Boulevard and Woodley Avenue.

Warehouse Leases More Profitable Than Retail

LIST: Property managers say sentiment is shifting away from malls.

In the property management business, industrial real estate is the most reliable and profitable in the San Fernando Valley.

Builder’s Big Move

RELOCATION: PCL Construction tackles high-profile projects including one close to home — its new corporate headquarters.

PCL Construction Services Inc.’s list of completed projects range from the Banc of California Stadium soccer stadium in L.A.’s Exposition Park to renovations at Los Angeles International Airport.

Glendale Matures Post Meltdown

New tenants buoy occupancy in Tri-City’s office sector.

Only two years ago, Nestlé USA announced that it would leave its longtime base at 800 N. Brand Ave. in Glendale for Rosslyn, Va., taking with it a chunk of its 1,200 employees and vacating some 375,000 square feet of office space.

Technology Hub Comes Together in Moorpark

REAL ESTATE: Biotech and defense companies move into Ventura County.

If you’re looking for a biotech or defense-related research cluster, the Conejo Valley and Antelope Valley jump to mind. Both Thousand Oaks and subsets Westlake Village and Newbury Park are home to innovators in the biotech field, including Amgen Inc., MannKind Corp. and Atara Biotherapeutics. The Antelope Valley has Lockheed Martin Corp.’s Skunk Works and Northrop Grumman Corp.

Gelt Sells Santa Clarita Apartment Building for Nearly $63 Million

Tarzana real estate investment and management firm Gelt Inc. has sold Monterra Ridge Apartments in Santa Clarita for $62.5 million.

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Moorpark Bans Hemp, CBD

In an emergency ordinance intended to protect public health, Moorpark City Council unanimously approved a temporary ban on the cultivation, manufacturing, storage and processing of industrial hemp, essentially banning pot shops and any development or planting of hemp within the city limits.

Coldwell Banker Leases New Location in Valencia

Coldwell Banker Quality Properties has leased 3,250 square feet of second-floor office space in Valencia.

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Calabasas Firm Finances $69 Million Student Housing Project in Merced

A Calabasas firm has provided a Michigan-based real estate development company with $68.8 million in construction financing for an ambitious student residential development near the University of California – Merced.

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The Angel Veterans Housing Project Lands in North Hills

The nonprofit L.A. Family Housing has gained approval to build veterans affordable housing development in North Hills.

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Townhome Project Planned in Sherman Oaks

Architectural plans for a quartet of townhouse structures to be built on a small residential lot in Sherman Oaks have been submitted to the Sherman Oaks Neighborhood Council.

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Report: Thousand Oaks Must Build 2,500 Housing Units by 2029

According to preliminary data from the Southern California Association of Government, Thousand Oaks must erect 2,578 homes by 2029.

New Details on Adler Realty’s $1 Billion Warner Center Development

New information has surfaced regarding Adler Realty Investments’ $1 billion mixed-use development in Warner Center.

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Insurance Group Commits to Glendale Lease

California Insurance Guarantee Association signed a 10-year lease with an undisclosed landlord to occupy 29,000 square feet of office space at 330 N. Brand Blvd. in Glendale.

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Chinese Investment in Local Real Estate Plummets 50 Percent in 2019

A report by research firm Real Capital Analytics found that investment in Southern California, including the Greater San Fernando and Santa Clarita valleys, has dropped by more than 50 percent.

Jury Convicts Valley Residents in $126 Million Toner Scheme

A federal jury has found seven people – including three from the Valley region – guilty of conspiracy and mail fraud for participating in a decades-long, $126 million telemarketing scheme targeting thousands of small businesses, agencies and charities.

VICA Passes Gavel to Incoming Chairman Rosenheim

Longtime Valley Industry & Commerce Association member Brad Rosenheim, of Woodland Hills-based Rosenheim & Associates, became president of VICA’s board at the organization’s 70th Annual Meeting Friday at Airtel Hotel in Van Nuys.

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L.A. Sues FAA Over Hollywood Burbank Airport Noise

Los Angeles City Attorney Mike Feuer announced a lawsuit against the Federal Aviation Administration Thursday on behalf of residents and businesses in the southeast San Fernando Valley who have endured a significant increase in airplane noise and traffic due to changes in the flight paths of planes at Hollywood Burbank Airport.

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Medical Office Plaza Could Rise Across From Glendale City Hall

Glendale-based nonprofit health provider All For Health, Health For All is developing a medical office building at 517 E. Broadway.

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Van Nuys Townhouses Sell for $5.6 Million

Erwin Apartments, a multifamily property at 14740 Erwin St. in Van Nuys, has sold for $5.59 million, or $310,556 a unit, according to Warren Berzack, principal of Lee & Associates-LA North/Ventura, who represented the seller with Lee Principal Slavic Zlatkin.

Hotel With 25 Stories Proposed for Glendale

A 25-story hotel proposal by Arcadia-based real estate firm Kam Sang Co. is scheduled to go before Glendale City Council Tuesday.

Developer Sells Project Still in Construction

Virtu Investments buys Warner Center project with 174 units for $70.5 million.

Los Angeles real estate company Cityview announced the sale on Dec. 2 of Mira, a 174-unit multifamily development currently under construction in Woodland Hills.

$1 Billion for District NoHo

DEVELOPMENT: Transit figures in project’s marketing plan.

$1 billion investment for mixed-use buildings in NoHo Arts District.

River Cruise Company’s Big Move

AmaWaterways celebrates lease with open house party.

Calabasas-based AmaWaterways will head upstream to The Park Calabasas by summer.

Calabasas: NIMBYs Versus Affordable Housing

REGULATION: Calabasas City Council puts Avalon Bay question on ballot.

Head-to-head confrontation between Calabasas’ NIMBY contingent and a developer seeking to help the city meet its minimum affordable housing requirement came to a tense pause last month.

Upscale Investment in Calabasas

In early 2019, the three-building Calabasas Park Centre office campus sold for $78 million.

Hotel Gives 14,580 Percent Gain

The Tri-Cities saw some major hotel sales in July when Pebblebrook Hotel Trust sold the Hotel Amarano Burbank for $72.9 million

Leadership Switch at Conejo Valley Chamber

NONPROFIT: Jill Lederer retires, Danielle Borja named chief executive.

For the first time in her life, Jill Lederer has put business on the back burner.

Wrecking Ball for Simi Offices

A Simi Valley landmark has traded hands – and may be headed for the rubble pile.

Moving Company Signs Chatsworth Warehouse Lease

Air 1 Moving & Storage has signed a lease for a freestanding industrial facility in Chatsworth.

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Developer Proposes 127 Apartments Near Van Nuys Airport

An entity affiliated with Malibu-based Weintraub Real Estate Group has filed plans with the city of Los Angeles to construct mixed-income housing west of the Van Nuys Airport.

Forty Apartments in Glendale Sell For $10.6 Million

An entity called 401-403 Glenoaks has acquired a 40-unit multifamily property in Glendale from Interstate Equities Corp. for nearly $10.6 million.

Canyon Country’s Second T.J. Maxx to Take Vacated Bed Bath & Beyond Space

A new T.J. Maxx will replace a Bed Bath & Beyond that had closed its doors in September.

Thousand Oaks Apartment Complex Sells for Nearly $34 Million

The Stonepine Apartments, a 108-unit garden-style multifamily property in Thousand Oaks, has sold for $33.8 million.

Northridge Medical Building Sells for Roughly $12 Million

A multi-tenant medical office building in Northridge has sold for an undisclosed price that — according to a source close to the deal —approaches $12 million.

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Rexford Buys R&D Site for $23 Million

Newmark Knight transacted Newbury Park industrial deal.

Rexford Industrial Realty has purchased a multi-tenant, class B industrial site in Newbury Park

Ventura’s Economy Looks Stubbornly Dire

Report delivers zero-growth forecast for county.

Ventura County’s economic outlook is dire as residents move out and development remains static, says economist Matthew Fienup.