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Friday, Jul 12, 2024

Around the Valleys

Antelope Valley Lancaster Waste Management of Antelope Valley and Agromin are partnering to fix the turf at Lancaster’s Gilly National Soccer Center. Agromin, in Oxnard, will spread its turf rescue product, organic material collected from providers such as Waste Management, on the soccer fields to reduce water usage, increase the ability to absorb water, deepen the root structure and decrease water runoff. Rick Wilson, Agromin’s chief technology officer, said the turf rescue project will make the soil much more porous. “Once applied, water will reach deep into the soil instead of remaining on the surface where it would eventually evaporate,” Wilson said in a statement. “Once the soil begins to adsorb water, salts can then be leached out, further enhancing the porosity.” Lancaster Mayor Rex Parris called the effort a continuation of the city’s commitment to build a sustainable community. San Fernando Valley BURBANK The Burbank-Glendale-Pasadena Airport Authority elected Zareh Sinanyan as its new president for the coming year. The authority owns and operates Hollywood Burbank Airport, the only commercial airfield in the San Fernando Valley. Sinanyan represents Glendale on the nine-member board and also serves as mayor of Glendale. Burbank Commissioner Ray Adams was elected as vice president and Pasadena Commissioner Ross Selvidge was chosen as secretary. Additional new officers include Glendale Commissioner Vartan Gharpetian as treasurer, Burbank Commissioner Bill Wiggins as auditor and reappointed airport Executive Director Frank Miller as assistant secretary. Chatsworth Three Chatsworth residents who owned or managed foreclosure rescue companies were sentenced July 16 for their roles in a $20 million mortgage fraud, the Department of Justice announced. Dorothy Matsuba, 67, received a sentence of 20 years in prison for wire fraud, identity theft and other charges; her daughter Jamie Matsuba, 33, received a sentence of about 11 years for wire fraud; and her husband Thomas Matsuba, 67, was sentenced to 14 years for wire fraud. According to evidence presented at trial, between 2005 and 2014, the Matsubas ran a scheme to defraud financially distressed homeowners by offering to prevent foreclosure on their properties through short sales. Instead, they rented the properties to third parties, did not pay the mortgages on the properties, and submitted false and fraudulent documents to mortgage lenders and servicers to delay foreclosure. Also, the conspirators obtained mortgages in the names of stolen identities. Other defendants include Jane Matsuba-Garcia, 42, of Camarillo, who previously pleaded guilty and is awaiting sentencing. Young Park of Los Angeles is a fugitive. In related cases, Jason Hong, 36, of Chatsworth, and Ryu Goeku, 48, of Canoga Park previously pleaded guilty and are awaiting sentencing. California Realty Group closed a pair of separate leases in June at a Chatsworth industrial site. Align Aerospace Holdings Inc. leased the northern portion of the 150,831-square-foot complex while Ball Corp. leased the southern portion of the building. The recently remodeled warehouse located on 6.68 acres at 9401 De Soto Ave. is now 100 percent leased. For Align, which absorbed 66,570 square feet, California Realty Group’s Mark Esses listed the property while Rick Pearson of Cresa represented the tenant. For the 84,261 square feet leased to Ball Corp., Esses served as listing broker while CBRE’s Gregg Haly and Bennett Robinson represented the tenant. California Realty Group advised PDX Investments LLC in the leasing of the industrial building. In November 2017, the firm represented PDX in the purchase of the then-vacant property from Rexford Industrial Realty for $23 million. Glendale IHOP has launched a new delivery service at more than 300 U.S. locations through a partnership with on-demand delivery app DoorDash. The partnership comes as IHOP parent company Dine Brands Global Inc. in Glendale is implementing a comprehensive strategy to return to growth after two years of declining revenues.“Undertaking a national delivery partnership is an exciting new chapter in our story and builds on the foundational work we’ve done on IHOP ‘N GO this past year, including introducing a mobile app, online ordering through IHOP.com and special packaging that preserves the quality of our food for takeout,” said IHOP President Darren Rebelez in statement. Woodland Hills Adler Realty Investments has plans for a $1 billion transformation of Warner Center Corporate Park at the intersection of DeSoto Street and Burbank Boulevard in Woodland Hills. According to CoStar Group, Woodland Hills-based Adler Realty, which purchased the Warner Center Corporate Park property five years ago, will seek to overhaul what is currently a collection of 12 office buildings totaling 346,144 square feet. When complete, the new project will include four office buildings offering about 300,000 square feet apiece, 1,029 residential units, a 210-key hotel on 25 acres, and 5 acres of public open space. The mega-complex should entail seven to 10 years to complete. The project falls under the Warner Center 2035 Specific Plan, the urban development blueprint seeking to establish substantial mixed-use projects to the area in order to transform Warner Center into the downtown of the San Fernando Valley. Simi Valley HFF Orange County has brokered the sale of Mountaingate Plaza, a 281,240-square-foot Simi Valley shopping center, for $51.1 million, according to a source close to the company. The center at 1197-1301 E. Los Angeles Ave. and 2022-2090 First St. is anchored by Valley Marketplace, Rite Aid, 99 Cents Only and DD’s Discounts. The property, with eight buildings and outparcel pads, has been in operation since 1965. Gleb Lvovich, Bryan Ley and Daniel Tyner led the HFF investment advisory team, which marketed the property on behalf of the seller, a joint venture between Investcorp International Realty Inc. and ScanlanKemperBard. Merlone Geier Partners purchased the asset. “The sale of Mountaingate Plaza represents continued interest in grocery-drug anchored shopping centers in primary markets, especially those with upside and cash flow growth,” Lvovich said. “Mountaingate Plaza is an example of the ideal type of retail center that investors want today with its daily needs drivers of grocery-drug-fitness and restaurant anchors,” Ley added. Buyer Merlone Geier Partners, a vertically integrated, West Coast-centric real estate investment firm, operates out of Palmdale. HFF and its affiliates work out of 26 offices, with a headquarters in Newport Beach. Based in Ontario in the Inland Empire, Investcorp is a global provider and manager of alternative investments while ScanlanKemperBard, an established real estate merchant banking firm based in Portland, Ore., has a total portfolio activity of $3.9 billion. Ventura County Camarillo Salem Media Group has revamped the programming lineup for its Nashville flagship station and nationally syndicated music programs. The Christian and conservative media company announced Salem Nashville Production Director Caryn Cruise has taken over the Salem Music Network and Nashville’s 94 FM the FISH broadcast from 12 p.m. to 5 p.m. Morning drive-time host Doug Griffin has moved to the 5 p.m. to 9 p.m. time slot. “I look forward to hearing two seasoned pros create compelling content that will attract more fans to our life–changing format on our local station and for our national network partners,” said Program Director Jeremy Sweat in a statement. Salem Media is headquartered in Camarillo and operates 118 radio stations across the country. Thousand Oaks MBK Senior Living has acquired nine senior housing communities totaling 1,174 units in a $382 million deal with West Partners. Cushman & Wakefield brokered the deal on the properties. The properties include The Reserve in Thousand Oaks, a 150-unit complex located on nearly 7 acres at 3575 N. Moorpark Road. The Reserve features a long list of amenities, including restaurant-style and private dining, artist studio, bistro and coffee bar, fitness center, library, outdoor spaces, salon and spa, outdoor pool and indoor whirlpool spa and game room. – Compiled by Staff Reporter Ethan Varian

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