Around The Valleys

SAN FERNANDO VALLEY Canoga Park US Nuclear Corp. has signed an agreement with Qysea Technology Co. Ltd. to build, market and sell its industrial underwater robot sensor systems. US Nuclear, in Canoga Park, will be the exclusive North American sales representative for Qysea, in Shenzen, China, for nuclear- and chemical-related applications. The San Fernando Valley company will install the radiological, chemical and biological sensor packages in addition to the data collection/transmission software into the industrial underwater robots supplied by Qysea. US Nuclear Chief Executive Robert Goldstein called Qysea a perfect match for the company that will leverage its recent success in supplying sensors to the unmanned underwater vehicle market, capitalizing on a similar customer base. “We look forward to providing unmanned robots that will have the ability to detect radiation, chemicals and biological pollutants underwater and open a new world of underwater exploration,” Goldstein said in a statement. North Hollywood An industrial property at 7025-7037 Laurel Canyon Blvd. in North Hollywood has traded for $6.6 million even before real estate agents had a chance to formally list and market it, according to brokerage Lee & Associates-LA North/Ventura. The property, currently leased by United States Postal Service, serves as the site of USPS’s NoHo carrier annex, consisting of a 36,160-square-foot building. Lee Principal Randy Kobata, President Mike Tingus and Associate Clay Stevens represented both the seller and buyer Jacmar Cos., a real estate development company active throughout Los Angeles. The seller was an undisclosed private family trust. “With industrial vacancy in North Hollywood now below 1 percent, we had three prospective buyers jump on this offering in just four days,” said Kobata. Jacmar plans to redevelop the 100,000-square-foot parcel once the USPS lease expires in 2025. Sherman Oaks Operation Hope’s Entrepreneurial Training Program graduated 22 participants late last month at a ceremony at the Valley Economic Alliance office in Sherman Oaks. It was the program’s largest graduating class yet. The June 27 event commenced with welcome speeches from Gail Lara, a small business coach for Operation Hope, and Randy Witt, chairman at the Valley Economic Alliance. Finally, each graduating member gave a three-minute pitch of the business concept they sharpened over the program’s 12 weeks. The class’ startup ideas ranged from a champagne lounge to a career compatibility mobile app. Tarzana Logix Federal Credit Union has opened a new full-service branch at 18700 Ventura Blvd. in Tarzana. The branch, located next to a Whole Foods Market, offers deposit, loan, investment and insurance products. Logix Chief Executive Ana Fonseca said that with its membership growing in the San Fernando Valley and many members living in the Tarzana area, the location was an obvious choice for a new branch. “This branch increases convenience for our members and joins the existing network of Logix branches along the 101 corridor from the San Fernando Valley to the Conejo Valley,” Fonseca said in a statement. Branch Manager Tamara Scott and Branch Service Manager Carolina Cespedes-Rivas will handle sales and operations, respectively. TRI CITIES Burbank Burbank fintech firm ZestFinance has partnered with Via Varejo, a Brazilian consumer electronics retailer, to provide software for credit underwriting for point-of-sale microfinancing. ZestFinance will supply its machine learning software so that Via Varejo can find more good borrowers and expand its lending business without adding risk. The two companies will test the new artificial intelligence credit model in the second half of the year and roll it out fully early next year. ZestFinance Chief Executive Douglas Merrill said that retail was an exciting new front for the company. “We’ve proven that machine learning works in all types of credit and in every geography,” Merrill said in a statement. “We’re looking forward to helping Via help millions of its customers.” Glendale A two-property townhome complex totaling 18 units has sold for $5.95 million, or $330,556 per unit, to an unidentified local buyer, according to brokerage CBRE Group Inc. Located at 1022-1026 Thompson Ave., the two buildings feature 14 units with two-bedrooms and one-and-a-half baths; and four one-bedroom/one-and-a-half baths units. Priscilla Nee of CBRE represented both private seller and buyer, both of which are undisclosed. “This was a great value-add opportunity for a savvy investor,” Nee said in a statement. “This property is centrally located between downtown Glendale and Burbank and only minutes from the studios. This is a solid, income-producing investment with upside.” SANTA CLARITA VALLEY Valencia Advanced Bionics unveiled its latest product, the AIM system, at a cochlear implant symposium in Florida. AIM stands for “active insertion monitoring,” a computer program designed to help surgeons and hearing care professionals with insertion of the electrode for a cochlear implant. The software provides real time feedback to the surgeon to guide the insertion placement. The AIM system also helps measure the range and sensitivity of a person’s sense of hearing, making it easier to adjust the implant for younger or hard-to-test patients. “We’re very excited about the introduction of the AIM system because we believe that this is an important innovation for (cochlear implant) surgery,” Dr. Victoria Carr-Brendel, group vice president of the Sonova Group and president of Advanced Bionics, said in a statement. VENTURA COUNTY Camarillo The Camarillo Planning Commission has approved Lustra Development LLC’s proposed pair of two-story apartment buildings to be erected on an Old Town Camarillo parking lot at the southeast corner of Glenn and Chapel drives. Based in Newbury Park, Lustra Development envisions 1,500-square-foot apartments at the site, which is located behind Dizdar Park. Pueblo Viejo Apartments, which totals eight units, will house four two-bedroom apartments in each of its two buildings. Pending plan checks and permit approvals from the city’s Building and Safety and Public Works departments, construction will begin on the project, which will adopt the Spanish Colonial Revival style with tile roofs and black-iron balcony-style windows. A completion date for the Lustra project has not been disclosed. Saalex Corp. has announced that the company is now owned by its employees through an employee stock ownership plan. Employees of the Camarillo engineering and information technology services company will receive stock allocations annually that will vest over a period of time and increase in value as the company grows. Chief Executive Travis Mack said that an employee stock ownership plan allows for Saalex workers to benefit financially from the work they do in promoting the success of the company. “It provides pride of ownership and incentives for all employees to help grow Saalex to even greater success,” Mack said in a statement. Thousand Oaks A collaborative research program with Alzheimer’s patients involving Thousand Oaks-based Amgen Inc., Swiss drug maker Novartis and Banner Alzheimer’s Institute in Arizona is discontinued, the companies said in a statement. Patients were exhibiting worsening cognitive function in the second of a three-phase study, which monitored the effects of the drug BACE1 inhibitor CNP520, or umibecestat. The Generation Program was designed to monitor the safety and efficacy of the drug in people at high risk of developing Alzheimer symptoms based on age and genetic status. Westlake Village MannKind Corp. in Westlake Village has partnered with Santa Monica’s GoodRx, an app that allows people to see the best prices for drugs. For MannKind, which makes inhalable insulin Afrezza, the goal is raise awareness on ways patients can save on their mealtime insulin. The company hopes a connection with GoodRx pushes this type of treatment to the forefront of patient’s minds when they think about alternatives to injectable mealtime insulin. Through the GoodRx platform, patients will be able to get Afrezza for as low as $15 with a promoted copay and savings card program.