AROUND THE VALLEYS

  ANTELOPE VALLEY

LANCASTER

The organization formerly known as Antelope Valley Hospital has announced the launch of its new logo and new name – Antelope Valley Medical Center, or AVMC. The medical center, which has been providing health care services for the region since 1955, said in a statement that the new name and brand reflects on its history, present and future. “The Antelope Valley population is steadily growing and with the extended need for advanced medical services in this region, our new name and brand symbolize the positive changes the hospital will make to secure the medical care needed for our patients,” Dr. Abdallah Farrukh, board chairman for the Antelope Valley Healthcare District, said in a statement. The medical center recently added new services, including two new heart procedures, a bariatric program and a thrombectomy procedure that can save stroke patients’ lives. AVMC also brought Antelope Valley Outpatient Imaging Center under its management to offer broader outpatient radiology services. These developments are flanked by plans for AVMC to open a behavioral health and rehabilitation hospital. “Given all that the hospital has endured in the last two years, AVMC managed to successfully scale its services, while preparing to expand its footprint in the Antelope Valley. We must make the necessary changes now, as we prepare for the future,” Edward Mirzabegian, AVMC’s chief executive, said in a statement. Mirzabegian added that the rebranding better reflects the comprehensive care that AVMC provides.

  CONEJO VALLEY

WESTLAKE VILLAGE

 An office building has sold for $32 million, or roughly $303 per square foot. Built in 1987, the two-story structure is located at 5601 Lindero Canyon Road. It has 105, 531 square feet and 443 parking spaces. The buyer is Garden Commercial Properties, a retail and office developer based in Short Hills, New Jersey. The company is a subsidiary of Garden Homes, a residential developer. The seller was EQ Office in Chicago. Jones Lang LaSalle brokered the deal.

  SAN FERNANDO VALLEY

CALABASAS

Calabasas-based real estate brokerage Marcus & Millichap Inc. nearly doubled its revenues last year, according to financial results reported Feb. 18. For the fourth quarter, the company reported net income of $62 million ($1.53 per share), compared to $23.6 million (59 cents) for the same period in the prior year. Revenue grew 98 percent to $495 million. The sole analyst who covers the company expected earnings of 96 cents a share on revenue of $371 million, according to Yahoo Finance. Net income for the entire year was nearly $143 million, or $3.55 per common share, compared with net income of $42.8 million ($1.08 per share) the previous year. Total revenues for 2021 reached $1.3 billion, an increase of 81 percent.

ENCINO

Tisser Law Group has merged into Glaser Weil, a full-service law firm. The address for Tisser and its phone number will remain the same, but the email will change, according to the company. Glaser Weil is based in Century City. Tisser, which provides estate and tax planning services, will see its range of services enhanced by the merger. Attorney Doron Tisser will become a partner at Glaser Weil and will co-chair the Trusts & Estates Department within the firm.

GLENDALE

Cimmarusti Holdings has proposed a 24-story apartment tower that would be the tallest residential structure in Glendale. The project is called Lucia Park, after the grandmother of the two brothers who head Cimmarusti Holdings. The building will go up at 625 N. Maryland Ave. The developer could break ground by late summer. The structure will be comprised of 294 one- and two-bedroom apartments atop subterranean parking for more than 500 vehicles that will be open to residents and to tenants of an adjacent office building. Designed by JFAK Architects, plans for the tower will see setbacks allowing space for amenity decks on the podium and rooftop levels. Open space would front Brand Boulevard on the western property line to include a pocket park. Lucia Park will stand next to a historic Chase building, a mid-century structure that was one of the original Home Savings and Loan buildings. If the project hits its late summer start date, expect for Lucia Park to debut in mid-2025.

SAN FERNANDO

A six-year lease for a food manufacturing facility has closed for $2.3 million. The 23,925-square-foot property is located at 1530-1606 First St. It currently features multiple coolers, food prep areas, washrooms, floor drains throughout and a large lot with private gated concrete yard. Executive Managing Director Yair Haimoff with Spectrum Commercial Real Estate brokered the transaction on behalf of the undisclosed new tenant, while Greg Geraci with Colliers International represented the private landlord. “Our client needed additional space to grow its food manufacturing operation; however, it was extremely difficult to find additional space due to the low vacancy rate of industrial product, especially food manufacturing facilities,” Haimoff said in a statement. “Some of our food users give up looking for existing food use facilities and focus on converting general industrial space into food uses. However, the cost of converting industrial space into food manufacturing is extremely expensive and the process is very long. Once this property came on the market, we needed to act quick and place an offer. The negotiations went smoothly, and we were successful in securing a long-term lease.”  

VAN NUYS

Van Nuys Airport plans to break ground on a runway rehabilitation and reconstruction project. The $13.1 million improvement will reconstruct runway 16L and rehabilitate Runway 16R. The work will be completed later this year. Justin Erbacci, chief executive of Los Angeles World Airports, the city agency that owns and operates the Valley airfield, said that as one of the busiest general aviation airports in the country, Van Nuys and its tenants will benefit from the runway project that will enhance operations and safety. “The project design, phasing and construction will maximize federal grants while minimizing disruption to ongoing operations,” Erbacci said in a statement. “This work is an example of how Van Nuys is meeting our strategic goals of operating and maintaining exceptional facilities for our tenants, employees and passengers.” The work involves reconstructing the entire 4,000-foot length of Runway 16L and includes improvements to the taxiway, runway lighting, airfield signage and surfacing markings. Enhancements to Runway 16R include resurfacing the asphalt and associated connector taxiways to extend the life of the pavement, refreshing runway and connector taxiway markings and upgrading the lighting to LED fixtures, according to the airport. The construction will start with a 161-day closure of Runway 16L. During that time, operations will be directed to the 8,000-foot Runway 16R, with a minimum of two connector taxiways operational at all times, the airport said. The improvements are expected to be completed by the end of November.

  VENTURA COUNTY

SIMI VALLEY

Adventist Health Simi Valley has hired Dr. Casey Batten, lead primary care sports medicine physician for the Los Angeles Rams, as medical director of the hospital’s athletic training program. The program includes six Ventura County and Los Angeles County schools and provides a full-time athletic trainer at each partner school. The trainers are involved in educating and helping students get interested in health care related careers in addition to keeping student athletes healthy and safe. In addition to being a doctor for the Super Bowl champions, Batten is also the director of the Cedars-Sinai Kerlan-Jobe Institute Primary Care Sports Medicine Fellowship. “Adventist Health Simi Valley is going directly into the community to provide care outside the walls of the hospital,” Batten said in a statement. “Having outreach programs combined with the expertise of the Cedars-Sinai Kerlan-Jobe Institute will benefit each school’s student athletes by providing them access to the latest evidence-based care.”