Michael Aushenker

Staff Reporter

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

Recent Stories

Calabasas Office Building Sells for $11 Million

A building at Corporate Center Calabasas has sold for $11 million, brokerage CBRE Group Inc. announced Tuesday.

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Armenian Nonprofit to Rehab Defunct Fire Station

Glendale-based Armenian Cultural Foundation plans to convert a defunct, single-story Encino fire station into a cultural center.

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Valley Economic Forecast: Sunny With Higher Growth

Forecasters have upgraded their predictions for the San Fernando Valley during 2018, Matthew Fienup, executive director of the Center for Economic Research and Forecasting at California Lutheran University, announced Wednesday at a breakfast organized by the Business Journal.

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Tarzana Multifamily Trades for $11.3 Million

A 52-unit apartment complex at 6251-6267 Reseda Blvd. in Tarzana has traded hands for nearly $11.3 million, or $216,346 per unit.

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Reseda Retail Property Sells for $3.8 Million

In Reseda, a 10,873-square foot retail property has sold for $3.8 million, according to James Brian Markel, regional manager of the Encino office of brokerage Marcus & Millichap Inc.

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French Transport Conglomerate Buys Camarillo Bus Company

French firm RATP Dev USA has purchased Camarillo’s Roadrunner Shuttle for an undisclosed amount, according to local reports.

Spicing Up Dessert

Wanderlust Creamery takes a global approach to selecting flavors for ice cream.

Wanderlust Creamery offers frozen treats.

Top-Tier Malls Elevate Retail Lease Rates

rend: In L.A. County, average rents have risen 4.5 percent in last year.

Retail lease rates rise because of top-tier malls.

A Market Ripe for Vineyards

$150 million Porter Ranch project will feature 266 apartments, movie theaters, hotel and retail on 45 acres.

$150 million Porter Ranch project secures three more tenants.

Industrial Music in Van Nuys

Where Foo Fighter Rami Jaffee records and jams.

Foo Fighter rocks out in Van Nuys studio.

Construction Begins on Warner Center Multifamily

Los Angeles-based developer CityView has broken ground on a multifamily development in Warner Center.

Blumenfield Motions for Inclusionary Housing in Warner Center

Last week, L.A. City Councilmember Bob Blumenfield formally called for inclusionary housing in Warner Center, according to Urbanize.LA.

Marcus & Millichap Acquires Midwest Commercial Brokerage

Calabasas-based brokerage Marcus & Millichap Inc. has entered into a definitive agreement to acquire the assets of Pinnacle Financial Group Inc., a Cleveland-based commercial real estate mortgage brokerage and servicing firm.

Local Builder to Construct Parking Garage

Klorman Construction has been selected to construct a parking garage for the 48-unit Mercy Housing Pico-Robertson Affordable Senior Housing Complex in Los Angeles.

Valencia Industrial Building Trades for $20.7 Million

A Valencia industrial building offering a combined 173,056 square feet of distribution and manufacturing space has sold for $20.7 million, according to listing agency NAI Capital Inc.

Tutor Perini Bids Low on Projects Totaling $1 Billion

Tutor Perini Corp. has made low bids for three new civil projects that will total approximately $1 billion.

Nestle Pays $7.2 Billion to Sell Starbucks Coffee

Nestlé S.A. has agreed to pay $7.15 billion to sell coffee with the Starbucks brand, according to Bloomberg.

$150 Million Icon Project in Panorama City Advances to L.A. City Council

After three revisions, Icon Co.’s $150 million mixed-use project in Panorama City has been approved by the Los Angeles City Planning Commission.

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Former K-Swiss Headquarters Sells for $11 Million

The former corporate headquarters for athletic footwear-maker K-Swiss in Westlake Village has sold for $11 million, according to Lee & Associates-LA North/Ventura.

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Cedar Oak Mixed-Use Coming to Old Town Camarillo

Aldersgate Investments LLC of Oxnard has a mixed-use project coming online in Camarillo by October or November.

Q1 Data Paints Partial Picture

Brokers and economists anticipate upticks in future quarters for Burbank and the Conejo Valley.

A look at 2018’s first-quarter highlights.

Elk Hills Buyout to Enhance CRC’s Profitability

ENERGY: Oil field could add $100 million to company revenues, analyst says.

California Resources Corp. gets financial boost from Elk Hills acquisition.

Americana Dream

The Americana at Brand shopping center raised the bar for building a ‘town center’ amid the suburbs of the San Fernando Valley.

Americana at Brand helped to change landscape of downtown Glendale.

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Parsing the ‘Caruso Effect’

The retail synergy between Rick Caruso’s Americana at Brand and General Growth Properties’ Glendale Galleria has amped up foot traffic to downtown Glendale.

PREVIEW: The Americana at Brand Turns 10

It’s been 10 years since the opening of the Americana at Brand in Glendale. How has the luxury shopping destination on Brand Boulevard changed the dynamics of local real estate?

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Warner Bros. Re-Ups Lease at Burbank’s Studio Plaza

Warner Bros. has renewed its 456,000-square-foot lease at Studio Plaza in the Burbank Media District, according to Real Deal.

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VICA Opposes Rent Control Initiative

Valley Industry & Commerce Association has voiced its opposition to the repeal of the Costa-Hawkins Rental Housing Act, which would remove rent control exemptions for new developments.

LAX Buys BYD Buses for Up to $23.7 Million

Chinese-owned manufacturer BYD of Lancaster has won the contract to create 20 articulated electric buses for Los Angeles International Airport, according to the airport’s parent entity Los Angeles World Airports.

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Panoptic Proposes 154-Unit Warner Center Project

Panoptic Development has unveiled its proposed mixed-use project near Warner Center’s Orange Line, as reported by Urbanize.LA.

Sun Valley Movie Studio Wins Court Approval

Production rental company Line 204 won approval from the 2nd District Court of Appeals to break ground on the largest movie studio complex to be built in Los Angeles in nearly three decades.

Mall of America Owner May Buy Former Rocketdyne Site

The Canadian owner of the Mall of America is negotiating to buy one of the largest redevelopment sites in Los Angeles: the former rocket-engine manufacturing site of Aerojet Rocketdyne, according to CoStar Group.

Dollar General Expands Footprint at Tejon Ranch

Dollar General has made a 240,000-square-foot commitment to expand its footprint in the master-planned Tejon Ranch Commerce Center in Kern County to more than 850,000 square feet, according to Colliers International, which negotiated the deal.

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From B2B to Autos, PR Firms Focus on Specifics

LIST: Despite disruption in media and tech, visuals and storytelling still work.

Valley area PR firms going after niche clients.

Skyline Comes into View for Homebuyers

RESIDENTIAL: Master-planned subdivsion rises on 450 hilltop acres.

Pardee Homes to build 1,200 single-family houses.

Nonprofit Homemaker

Conejo Valley group builds $20 million apartment projects with multiple funding sources.

Nonprofit gets creative in low-income housing.

Rexford Buys Thousand Oaks Industrial Building for $6.6 Million

A 49,585-square-foot industrial property in Thousand Oaks has sold for $6.6 million, or $133 a square foot, according to Lee & Associates-LA North/Ventura.

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Warner Center Condo Project Begins Construction

Canoga Park-based developer California Home Builders has begun building a low-rise condo project on a corner lot at 6800 Variel Ave. in Woodland Hills.

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Gelt Acquires Seattle Apartment Portfolio for $74 Million

Tarzana-based real estate firm, Gelt Inc. has acquired a two-property apartment portfolio totaling 491 units for $74 million in two Seattle submarkets.

Tarzana Multifamily Sells for $8.3 Million

A 28-unit apartment property located in Tarzana has sold for $8.3 million, or $296,428 per unit.

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JLL to Manage Glendale, Burbank Retail Centers

Jones Lang LaSalle Inc. has announced that the real estate firm will provide property management services for two commercial centers in Glendale and Burbank.

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Mixed-Use Project in Van Nuys Proposed

Ketter Construction has filed a proposed development with Los Angeles City Planning Department for a mixed-use destination at a 1.29-acre site in Van Nuys.

Around the Valleys

News and notes from the greater San Fernando Valley

Houses Coming To Santa Paula

DEVELOPMENT: Project among biggest ever in Ventura County.

Lemon grower partners on housing project, Harvest at Limoneira.

Santa Clarita’s Economic Forecast: Still Sunny

OUTLOOK: New hospital projects, industrial sites, to stimulate growth.

A booming 2018: That’s the trajectory for Santa Clarita as it continues growth in all sectors.

Warner Center Buildout

Ambitious millennial-minded, multi-site projects contribute to create a walkable ‘downtown’ in Woodland Hills.

Valley builder constructing a network of five mixed-use buildings in Warner Center.

Chinese Real Estate Investment Nosedives

Chinese investment in U.S. real estate last year declined by more than half, according to a Cushman & Wakefield report.

Formosa Group, Rethink Sign Leases at Hanhai Civic Plaza

Two new direct tenants, Formosa Group, and Rethink Leisure & Entertainment, have signed leases at Hanhai Civic Plaza in downtown Burbank, according to a Cushman & Wakefield release.

Lancaster Retail Property Sells for $1 Million

Calabasas-based Marcus & Millichap has announced the sale of Lancaster Village, a 13,463-square foot retail property located at 1137 West Avenue I in Lancaster.

Developer Buys Units at Universal Lofts

BLDG Partners has purchased 52 remaining live-work units at the Universal Lofts complex in Studio City in a $39 million acquisition, according to the Real Deal.

Post-Production Firm Moves to Burbank

In a 10-year lease transaction, Eikon Group, a London-headquartered post-production company which did technical creative work on such tentpoles as “Blade Runner 2049” and “Spider Man: Homecoming,” will occupy 20,000 square feet of flex and office space at Burbank Media District-North, Colliers International announced on Monday.