Michael Aushenker

Staff Reporter

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

Recent Stories

Judge Rules on Centennial at Tejon Ranch

A judge has ruled on the progress of the master planned mixed-use residential community Centennial at Tejon Ranch with both its developer, Tejon Ranch Co., and opposing environmental groups declaring the verdict – announced earlier this week – a victory.

Preview: Fire-Resistant Building Materials Stir Debate

Builders see more cost; officials want safety.

Santa Clarita Office Building Trades for $6 Million

A two-story, multi-tenant work building in Valencia has sold for $6 million, indicating some life in the office sector even during the pandemic.

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Rising Realty Sells Calabasas Office Park for $79 Million

Rising Realty Partners has sold Park Calabasas — a 225,000-square-foot office campus sprawled across more than 20 acres in Calabasas — for $79 million.

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NoHo Apartment Building Trades for $21 Million

A private investor has acquired a 42-unit apartment building in North Hollywood for $21.3 million, or $506,000 per unit.

Pacoima Multifamily Fetches $16.3 Million

Paladin Realty Partners has purchased an 85-unit apartment complex in Pacoima for $16.3 million, or about $192,000 per unit.

Camarillo Industrial Building Sells for $6.5 Million

A single-tenant warehouse property has sold in Camarillo for $6.5 million.

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Two Amazon Warehouses in Camarillo Sell for $154 Million

Oaktree Capital Management has acquired two industrial buildings in Camarillo for $154 million, or $210 per square foot.

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Landlords Face Rent Shortfall

REAL ESTATE: Owners seek to negotiate if tenants can’t pay.

Deferred payments. Percentage rents. Back-end lease extensions.

Deal-Making With Some Calabasas Style

Lee & Associates LA North and Mazirow Commercial team up to facilitate lease for Malibu engineering firm.

Lee & Associates LA North broker Mike Tingus has teamed up with Sheryl Mazirow, namesake of Westlake Village-based Mazirow Commercial Inc., which specializes in tenant representation in lease negotiations, on an 84,000-square-foot lease in Calabasas that promises to bring many jobs to the Conejo Valley.

Simi Valley Apartments Underway

USA Properties Fund breaks ground on 311-unit project.

USA Properties Fund has started construction on a pair of apartment projects in Simi Valley totaling 311 units, a combination of market rate and affordable senior housing.

Multifamily Sale Yields A Premium

Six-story Glendale complex trades for nearly $91 million.

An apartment complex with 164 apartments has sold in Glendale for $90.7 million, or more than $553,000 a unit.

Industrial Firm Scores $6 Million in Simi Valley Sale Leaseback

A two-story Simi Valley industrial property has been sold in a leaseback transaction for $5.9 million.

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Simi Valley Launches Digital Business Newsletter

The city of Simi Valley has introduced the Economic Development Business Newsletter this month.

Two Local Companies on Inc.’s Fastest-Growing List

Inc. magazine on Friday released the Inc. 5000 Series: California List, which honors the 250 fastest-growing companies in California, and two North Los Angeles companies made the top 15: CannaSafe in Van Nuys, and Caulipower of Encino.

Cushman & Wakefield Opens First North L.A. Office

Real estate brokerage Cushman & Wakefield Pacific has opened an office in Santa Clarita.

Developer Breaks Ground on 311 Units in Simi Valley

USA Properties Fund has started construction on a pair of apartment communities in Simi Valley totaling 311 units; a combination of market rate and affordable senior units.

Glendale Multifamily Sells for $91 Million

An apartment complex with 164 apartments has sold in Glendale for $90.7 million, or more than $553,000 a unit.

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PS Business Parks Names New CEO

Shopping center executive to lead industrial REIT.

Glendale-based PS Business Parks Inc. has appointed Dan “Mac” Chandler III as the company’s chief executive officer, effective April 5.

Will Suburbia Fill With Future Satellite Offices?

Banc of California executive foresees companies setting up operations in L.A.’s outlier markets.

Less offices, less commuting, less community density. That is the upshot of the post-pandemic predictions of Hamid Hussain, president of commercial real estate at Banc of California.

Acquisition of Shipping Firm

FULFILLMENT: Moulton Logistics bought by East Cost Firm.

“But wait – there’s more!” The memorable catchphrase from direct response television ads is part of the culture at Moulton Logistics Management Inc., which for years worked in conjunction with pitchman Ron Popeil.

NFL Star Launches Upscale Card Shop

Westlake Village store sells Magic: The Gathering, Pokemon products.

From pigskin to Pokemon: Pro football player Cassius Marsh has a new game – a new card shop in the Conejo Valley.

Digital Marketer Accepting Bitcoin

Thousand Oaks agency’s clients find convenience in cryptocurrency.

Thousand Oaks digital marketing agency Dymic Digital will integrate Bitcoin into its day-to-day operations.

A Retail Short Circuit

Fry’s Electronics permanently closes but leaves a legacy of thematic store design.

REAL ESTATE FOCUS

Investor Sells Southern Multifamilies

IMG gets $30 million for pair of properties in Raleigh.

The coastal Southern states are proving to be big business for one Warner Center group.

Three More People Arrested in $22 Million PPP Loan Scam

Federal authorities have charged three new defendants with participating in a scheme that allegedly submitted more than 150 fraudulent loan applications seeking nearly $22 million in COVID-19 relief funds.

Phase II Under Construction at Conejo Spectrum Business Park

Sares-Regis Group has embarked on Phase II of its nine-building Conejo Spectrum Business Park in Thousand Oaks.

Van Nuys Warehouse Sells for $2.2 Million

A Van Nuys warehouse has sold for $2. 2 million, or $419 per square foot.

Two-Story Calabasas Office Building Fetches $12.7 Million

A two-story office building at a Calabasas business park has sold for $12.7 million, or $271 per square foot.

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Apartment Complex With 64 Units Proposed in Van Nuys

A developer has proposed a multifamily complex with 64 units for a Van Nuys address, according to city of Los Angeles records.

Glendale Apartment Complex Fetches $5.3 Million

A private investor has acquired the Winlake Apartments in Glendale for $5.3 million, or $314,705 per unit, in a 1031 exchange.

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New Chief Executive at PS Business Parks

Glendale-based PS Business Parks Inc. has appointed Dan “Mac” Chandler III as the company’s chief executive officer, effective April 5.

Six-Building Van Nuys Industrial Park Sells for $19 Million

A six-building multitenant industrial business park in Van Nuys has sold for $19.3 million, or $247 per square foot.

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Joint Venture Breaks Ground on Supportive Housing Complex in Sylmar

Joint venture partners Meta Housing Corp. and LA Family Housing have officially broken ground on construction of Silva Crossing, a 56-unit permanent supportive housing project in Sylmar.

Housing Hot For Sylmar

Developer plans to build 132 units on Foothill Boulevard.

A mixed-use project with a large-scale residential component – featuring 132 one-, two- and three-bedroom units – has been proposed for Sylmar, according to city of Los Angeles records.

Faith in the Future of Office

Warner Landmark, former Anthem headquarters, to become creative offices.

An aging Warner Center building, vacant for more than a year, badly needs to reposition itself for the post-pandemic economy.

Scooters’ Slow Rollout in Valley’s Downtown

TRANSIT: After a viral hiatus, scooters return to sidewalks and streets in Warner Center.

Scooters from Lime have returned to Warner Center corners after disappearing since the onset of the coronavirus pandemic.

Performance Venues in Second Year of Shutdown

LIST: For live entertainment planners, uncertainty remains the looming challenge.

Local performing arts and cultural centers – unable to stage concerts or invite audiences to see plays – have felt the brunt of the pandemic.

Home Sales Solid as New Year Dawns

Low interest rates, inventory drive up prices in January.

Interest rates near historic lows fueled strong Valley home sales last month, pushing prices higher even as the inventory of homes for sale fell to a record low, according to a Southland Regional Association of Realtors report.

Reconfiguration of the Retail Sector in T.O.

Broker sees shopping centers transmuting, not dying.

While the “retail apocalypse” became a common chorus pre-pandemic due to the dominance of Amazon.com Inc.-led e-commerce — a phenomenon which only accelerated in the San Fernando and Santa Clarita Valleys in 2020 during lockdown — one high-powered broker said that store spaces and properties are giving way to other types of tenants and usages.

Warner Center Firm IMG Sells North Carolina Apartments for $30 Million

Woodland Hills-based real estate firm Investors Management Group Inc. has sold a two-property multifamily portfolio in Raleigh, North Carolina to Abacus Capital Group for $29.8 million.

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L.A. Kings, ASEC to Operate Rescued Santa Clarita Ice Rink

The city of Santa Clarita has awarded a contract to Los Angeles Kings and American Sports Entertainment Co. to operate an ice rink the city rescued in the fall.

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Industrial Broker Joins Delphi

Mike Centurioni, a commercial real estate broker for the last 18 years, has joined Van Nuys-headquartered Delphi Business Properties Inc. as a senior vice president.

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Low Interest Rates, Low Inventory Drive Up Valley Home Prices

Interest rates near historic lows fueled strong Valley home sales last month, pushing prices higher even as the inventory of homes for sale fell to a record low.

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Small Business Survey Finds Resiliency During COVID-19 Impact

Ventura County’s Economic Development Collaborative, or EDC, in partnership with the California Small Business Development Center has conducted a statewide survey on COVID-19’s impact on California entrepreneurs.

Cal Lutheran Economists Win Bank of America Research Grant

The Bank for America Charitable Foundation has awarded California Lutheran University’s Center for Economic Research and Forecasting, or CERF, a $250,000 research grant to identify the total economic contribution of Hispanics by U.S. state.

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Hospitality’s Hot Streak

Flurry of hotels are under construction, but is the boom set for a slowdown next year?

Coming Soon: 429 rooms at Sleep Inn in Palmdale, 241 suites at Sand Canyon Resort Santa Clarita and more than 1,500 hotel keys in the city of Burbank.

New Offices At Universal

Business campus will rise on the studio’s backlot.

A 400,000-square-foot office campus is coming to NBCUniversal.

Construction Underway at Needham II

Developers open next phase for Santa Clarita park.

Construction on Phase II of Santa Clarita industrial park The Center at Needham Ranch has begun.

Black ENTREPRENEURS MONTH: Louis Perry Kadima Security Service Inc.

6345 Balboa Blvd., Encino Business: Building and personal security services (213) 688-3019 • Email: lperry@kadimasecurity.com  Website: kadimasecurity.com

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