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MyCorporation Expands in Step With Economy

Startups and franchises are springing up everywhere, and that has pushed MyCorporation Inc. into bigger quarters. The company, a former division of QuickBooks and TurboTax software developer Intuit Inc. in Mountain View, had been in about 4,500 square feet in Calabasas until last month when it moved into offices at 26025 Mureau Road, more than doubling its former footprint, also in Calabasas. Chief Executive Deborah Sweeney, who bought the business from Intuit when it was spun off in 2009, said the company needed to move because of growth in revenue and a number of new hires. Last year, MyCorporation saw revenue grow 16 percent, and this year it brought on seven new employees. MyCorporation helps businesses file paperwork for required documentation such as business licenses, tax identification numbers, or to incorporate in any state across the country, Sweeney said. And those services are increasingly needed, she added. “The marketplace is pretty strong right now in terms of small business startups, and a piece of that is education – being a resource is very helpful,” Sweeney said. Many of her company’s competitors – LegalZoom.com Inc. in Glendale is one example – think only as far as accomplishing customers’ initial legal transaction and don’t think about the long-term. “Our business is about building relationships – which is why we work with banks, Certified Public Accountants and law firms – these are relationship-based groups. And then we get multiple referrals,” she said. Sweeney’s growing customer base also includes franchisees, who are required to be incorporated, and businesses that have been advised by their accountant on how to structure the company for tax purposes. Sweeney said she chose to stay in Calabasas because it’s consumer-friendly, she lives in town and the office attracts walk-in customers. Rumors Realized It’s official – Warner Music Group Corp. will be moving out of its Southern California headquarters in Burbank for trendier digs in downtown Los Angeles’ Arts District. The New York-based company signed a nearly 13-year lease on Oct. 7 to take the full Ford Factory building – nearly 257,000 square feet – at 777 S. Santa Fe Ave., according to a federal regulatory filing, ending speculation that began back in August. Warner will spend about $10 million a year in rent excluding a 75 percent rent abatement for 16 months while construction continues at the building. Todd Doney, vice chairman for CBRE Group Inc.’s L.A. office, negotiated the deal on behalf of building owner San Francisco’s Shorenstein Properties, which is restoring and renovating the historic building into office and studio space. He said Warner’s former location was smaller by more than 100,000 square feet. Ford Motor Co. finished the poured-concrete and block building in 1914 and made the Model T and the Model A there. It’s listed on the National Register of Historic Places. Shorenstein is installing new infrastructure and a new 600-plus space parking garage. Warner is scheduled to move into the space in about a year, Doney said. Doney, who has handled more than 86 million square feet of office space deals, said Burbank can still call itself the media capital despite Warner’s move. “I don’t think Burbank misses a beat,” Doney said. “There’s going to be strong absorption there the next couple of quarters and no new supply.” Leasing Up Olivo at Mission Hills, the rebranded 60-year-old Mission Hills Plaza shopping center that is undergoing a $30 million remodel, is more than 70 percent leased. L.A.-based retail developer Primestor Development Inc. is redeveloping the 14-acre site, increasing the existing 130,000-square-foot shopping center to 150,000 square feet with about 61,000 square feet as new construction. The center, which was rundown and largely vacant, sits at the northeast corner of Sepulveda Boulevard and Devonshire Street. Primestor President Leandro Tyberg said the center is 73 percent leased overall. New tenants make up 58 percent, while existing tenants account for 15 percent. New tenants include Target Corp., 24 Hour Fitness, T-Mobile USA Inc., Habit Burger Grill, Menchie’s frozen yogurt, Vitamin Shoppe, Chipotle Mexican Grill, Jersey Mike’s Franchise Systems Inc., Wingstop restaurant and Sprint Corp. Existing tenants include Dr. Marc Thall Optometry, Fallas Paredes and a JPMorgan Chase & Co. retail bank. A grand opening is expected for mid-2017, Tyberg said. Staff Reporter Carol Lawrence can be reached at (818) 316-3123 or [email protected].

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