Michael Aushenker

Staff Reporter

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

Recent Stories

Gelt Divests RV Park for $28.5 Million

Sale earlier than planned due to deal’s ‘significant upside.’

A joint venture between Tarzana-based real estate firm Gelt Inc. and Skya Ventures Inc. has sold Marina Dunes RV Resort near Monterey for $28.5 million.

Volunteer Rescues Fernando Obelisk

For Don Larson, names on civic service monument inspire respect.

After civil unrest broke out in May, one of the unlikely targets of graffiti in Woodland Hills was the obelisk in Warner Center Park

Interest in Building New Movie Studio

Developer tries ‘one-stop’ tactic on Santa Clarita project.

A “One Stop”’ review has started on a 93-acre property in Placerita Canyon, according to Santa Clarita city officials.

Camarillo Apartment Complex Sells for $96 Million

In Camarillo, a 213-apartment complex known as Las Positas has garnered $95.75 million, or $449,530 per unit.

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Blackstone, Worthe to Develop Burbank Office Tower

A joint venture between Blackstone Group and Worthe Real Estate Group will develop an office tower totaling 500,000 square feet.

Glendale Man Sentenced for Credit Card Fraud

A Glendale man on Tuesday was sentenced to 84 months in federal prison after pleading guilty to running a series of credit card scams which defrauded over 20 banks out of nearly $5 million.

Gelt Sells Monterey RV Park for $28.5 Million

A joint venture between Tarzana-based real estate firm Gelt Inc. and Skya Ventures Inc. has sold Marina Dunes RV Resort near Monterey for $28.5 million.

Beverage Manufacturer Caps Supersized Lease in Santa Clarita

DrinkPak, an alcoholic and non-alcoholic beverage manufacturer, has inked a deal to occupy space at The Center at Needham Ranch industrial park in Santa Clarita.

American Homes 4 Rent to Build 198 Homes in Georgia

American Homes 4 Rent, the single-family home rental company in Agoura Hills, has acquired 55 acres of land for development in Canton, Ga.

Bechir Apartments in Tarzana Sell for $27 Million

The Bechir Apartments in Tarzana have sold for $27.1 million, or $229,661 per unit, according to brokerage Marcus & Millichap.

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Glendale Apartments See $60 Million Purchase

A luxury apartment community in Glendale known as 416 on Broadway has sold for $60 million, or more than $520,000 a unit.

Hotel Gets Green Light in Woodland Hills

A four-story hotel will go forward on Ventura Boulevard in Woodland Hills, where 149 rooms are slated to rise after receiving approval by Los Angeles City Planning Commission.

Glendale Office Complex Sells for $6.9 Million

A 30,126-square-foot multi-tenant office complex has sold in Glendale for $6.85 million.

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Large Companies Learn to Ratchet Up Growth

LIST: Expansion at scale occurs in essential sectors such as tools and trucking.

It’s a major milestone for small businesses to execute a strategy for fast growth, but large companies in the Valley have learned to grow at double-digit rates despite their bulk.

PaymentCloud

PaymentCloud

While 2020 has slowed down many businesses, the clouds may be the limit for Sherman Oaks-based PaymentCloud.

Residential Rebound

REAL ESTATE: Homebuyers pounce on low mortgage rates to move into suburban markets.

A combination of low interest rates, people working remotely and children learning at home may have contributed to the biggest rise in home sales in the Valley region in September in over two years, according to real estate agents.

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Reveleer

Reveleer

Reveleer is a medical data platform for health plans that facilitates government compliance and risk management.

Chamber Talks Homebuying in 2020

Low interest rates, equity make it a buyers’ market.

Capitalizing on a third-quarter residential real estate boom, Van Nuys-based Filipino-American Chamber of Commerce held its annual real estate panel on Oct. 21.

$22 Million Buys Sylmar Business Park

Rexford Industrial Realty plans for redevelopment.

Rexford Industrial Realty has purchased an industrial park in Sylmar for $22 million, according to a statement from real estate brokerage Newmark.

Amazon’s Conejo Store

High-tech market to fill Westlake Village vacancy.

An Amazon Fresh grocery appears to be going into Caruso’s The Promenade at Westlake retail center by the first quarter of 2021.

IPI Construction

IPI Construction

IPI Construction works on building projects for the U.S. military and local governments.

Brokerages: Rebranding, Relocation

CBRE moves to Dallas as Newmark shortens name.

Two long-running eras have come to an end among a pair of major commercial real estate firms with large footprints in the Valley.

Preview: Residential Rebound

September marks Valley's highest monthly home sales since June 2018.

Ventura County Economy Faces Slow Recovery

Upshot of the annual California Lutheran University economic forecast for Ventura County by economist Mathew Fienup.

Prop 15 Behind in Vote Count

California ballot measure Proposition 15 — the split-roll tax proposal meant to create higher taxes on commercial and industrial properties — was lagging by a fairly narrow margin as of mid-day Wednesday.

Developers Express Early Interest in Building Movie Studio in Santa Clarita

A “One Stop”’ review has been performed on a proposed 93-acre movie studio in Placerita Canyon, according to Santa Clarita city officials.

Signage Company Inks 10-Year Lease in Burbank

Los Angeles-based printer Front Signs has signed a 10-year-lease to occupy a 24,468-square-foot portion of the 67,456 square foot multitenant warehouse at 3520-3560 Valhalla Drive in Burbank.

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Simi Valley Industrial Condo Complex Sells for $7.2 Million

The industrial property at 74 and 82 W. Cochran St. in Simi Valley has sold for nearly $7.2 million, or $250 per square foot.

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CBRE to Relocate Headquarters to Dallas

The Business Journal has confirmed multiple media reports that commercial real estate brokerage CBRE plans to move its headquarters from Los Angeles to Dallas.

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40 Apartments to Rise in Winnetka

With the unanimous approval of Los Angeles Planning Commission, another 40 residential units will be coming to the central San Fernando Valley.

Sylmar Industrial Park Fetches $22 Million

Rexford Industrial Realty has purchased an industrial park in Sylmar for $22 million, according to a statement from real estate brokerage Newmark.

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Tenants Hedge With Short Leases, Subleases

Market uncertainty spawns reluctance to long-term commitments.By MICHAEL AUSHENKER Staff Reporter The pandemic may have slammed real estate in the second quarter, but it was in third quarter when the

The pandemic may have slammed real estate in the second quarter, but it was in third quarter when the coronavirus’ economic impact truly unfolded, as industry observers paint a picture of companies afraid to commit to long-term leases in the face of multiple uncertainties: the virus, a presidential election and evolving experiments in workforce dynamics.

FAANG Footprint in the Valleys

Amazon and Netflix expand their regional presence during the pandemic.

They are collectively called FAANG, an acronym referring to the stock market’s five most popular technology companies.

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Preview: FAANG Footprint in the Valleys

Some of the most popular technology companies on the stock market have taken a liking to Valley-region real estate.

NAI Capital Restructures Ownership

San Fernando Valley real estate firm NAI Capital Commercial has completed an internal reorganization in which senior management, staff and the team of brokers will collectively own the company.

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Developer Eyes Marriott Hotel in Encino

A Marriott hotel tower in Encino with views of Ventura Boulevard – that’s the plan proposed by Irvine’s DKN Hotels, according to Encino Neighborhood Council.

Burbank Apartments Sold for $6.5 Million

The Capri Apartments in Burbank have sold for $6.46 million, or $307,619 per unit.

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Multifamily Portfolio in Burbank Fetches $31.3 Million

An 84-unit apartment portfolio in Burbank has sold for $31.3 million, or $372,000 per unit.

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Nonprofit Opens 44 Units of Affordable Housing in Sun Valley

Construction on Casa Del Sol — a four-story, 44-unit affordable housing complex by nonprofit developer A Community of Friends — has wrapped up in Sun Valley.

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2023 Start for Addition at Hilton Hotel

Sun Hill Properties plans construction on 395 rooms.

Expansion of the Hilton Universal City hotel now has a timeline.

Law Firm Buys Valley Village Office

At $5.3 million, location offers ‘value appreciation.’

The gavel has come down on an office building in Valley Village. Alder Law, a Los Angeles-based legal firm, has purchased the building at 12800 Riverside Drive for $5.3 million, or $266 per square foot, according to brokerage CBRE Group.

Scene Maker Seals Lease

Triscenic Production adds 275,000 square feet.

Triscenic Production Services has added 275,000 square feet to its industrial presence in the Santa Clarita Valley, according to CBRE Group, the brokerage which handled the transaction.

‘Moderate Luxury Housing’ in Warner Center

DEVELOPMENT: Vert offers 277 units and work/live option in Canoga Park.

The Warner Center 2035 Specific Plan has created a residential buildup with twin goals – fortify Woodland Hills as the future downtown of the San Fernando Valley and address the statewide housing shortage.

Van Nuys Goes Upscale In Monroe at Hazeltine

Single-family homes to start in the low $700,000s.

In the San Fernando Valley real estate market, Valley Village has become a euphemism for high-end Van Nuys. Now, developer Ecto Homes intends to elevate Van Nuys proper with a new residential project with two dozen contemporary homes.

Moorpark City Council Greenlights High Street Depot

Westlake Village developer Daly Group Inc. has received the go-ahead to construct High Street Depot in Moorpark.

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Glendale Apartment With Nine Units Sells for $4 Million

A private investor has acquired Dryden Townhome Apartments in Glendale in a 1031 exchange for $4 million, or $451,000 per unit.

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Hilton Universal City Construction to Begin in 2023

Expansion of the Hilton Universal City hotel now has a timeline.

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Law Firm Buys Valley Village Office Building for $5.3 Million

An office building in Valley Village has been purchased by Alder Law, a Los Angeles-based legal firm, for $5.3 million, or $266 per square foot.

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Valencia Office Condo Fetches $2.1 Million

An office condominium has sold in Valencia for $2.1 million.

Entertainment Service Company Leases 275,000 Square Feet in Valencia

Triscenic Production Services has added 275,000 square feet to its industrial presence in the Santa Clarita Valley.

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