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Tri-County Chamber Alliance Backs Central Coast Region for COVID-19 Regulation

The Tri-County Chamber Alliance has voiced its support for a movement to see Ventura, Santa Barbara and San Luis Obispo counties become their own region for COVID-19 regulation.

Promenade Pullback

DEVELOPMENT: Westfield will move forward gradually in Woodland Hills.

Shortly after Promenade 2035 – the $1.5 billion overhaul of mostly dormant Westfield Promenade shopping mall in Woodland Hills — got final approval last month, the developer decided to wait to start construction.

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GONE Green

Westfield’s former senior vice president starts his own real estate investment fund.

Larry Green, the former vice president of Unibail-Rodamco-Westfield, has formed his own company L. Green Investment and Development in Calabasas.

Three Counties Explore Forming Separate COVID-19 Region

Ventura, Santa Barbara and San Luis Obispo counties intend to petition the state to form a separate Central Coast region for the purpose of coronavirus pandemic regulation.

Flood of Phone Calls Followed by Gains

In a two-day period, Steve Davis fielded150 phone calls from clients with questions.

Wealth manager Steve Davis can attest that 2020 was a year unlike any other.

Biotech Corridor’s Central Hub

Newbury Park enjoys brisk market for sales and leases of industrial sites.

Biotech drives Newbury Park’s thriving industrial real estate landscape. In fact, Lee & Associates industrial brokers Grant Fulkerson and Mike Tingus refer to Newbury Park as the medical technology corridor.

Four-Level Proposed for Lake Balboa

A mixed-use residential project has been proposed for Lake Balboa. The four-story apartment building, which will house 39 one- and two-bedroom units, would rise on a nearly half-acre property at 17630 Sherman Way.

Needham Ranch Moves Needle to the North

Industrial development attracts entertainment, e-commerce to Santa Clarita Valley.

Joint developers Trammell Crow Co. and Clarion Partners LLC saw a series of deals during the year at Center at Needham Ranch, with two new high-profile occupants coming onboard last month.

Rexford Buys 18 Buildings Near Van Nuys Airport for $155 Million

Rexford Industrial Realty Inc. has acquired an industrial property portfolio in the Van Nuys Airport Industrial Center for $154.6 million.

Public Storage Completes Phase I of $528-million Acquisition

Public Storage, the Glendale-based developer and operator of self-storage properties, has closed the first phase of its acquisition of the Beyond Self Storage portfolio for $528 million.

21st Century Cartoons Coming From Netflix

Streamer leases 171,000 square feet for animation studio.

Streaming leader Netflix Inc. shocked the real estate industry in September when it announced that it had signed 2020’s biggest commercial real estate lease in the Greater Los Angeles area in Burbank, where the Los Gatos-based company will open its first animation studio.

Harman to Stay Put in Northridge

Audio company extends 164,000-square-foot lease.

Harman International has signed a 164,000-square-foot lease extension in The Mix at Harman campus at 8500 Balboa Blvd. in Northridge.

Airport-Adjacent Sites at Premium

Rexford pays $155 million for complex in Van Nuys.

Warehouses near the San Fernando Valley’s airports have become a hot commodity, as underscored by last month’s deal in which Brentwood-based Rexford Industrial Realty Inc. acquired a massive industrial portfolio at the Van Nuys Airport Industrial Center for nearly $155 million.

Gelt and Uhon Secure $83 Million Bridge Loan for Watermark Project

Real estate developers Gelt Inc. and Uhon have secured $83 million in bridge refinancing on behalf of its joint venture The Watermark Apartments in Reseda.

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Marcus & Millichap Acquires Houston Finance Company

Marcus & Millichap Inc. has acquired Houston-based LMI Capital.

Not Much Vacancy at Newhall Crossings

Residential component rents all apartments – but adjacent movie theater remains empty in pandemic.

It was supposed to be a summer 2020 celebration — the simultaneous ribbon-cutting of the mixed-use residential and retail complex Newhall Crossings and a brand new, seven-screen Laemmle Theatres arthouse cinema was going to usher in a new commercial enterprise in the heart of Newhall that has been under construction since 2018.

‘Workforce’ Multifamily for $29M

Mountain View Manor in Sylmar hosts 200 units.

Positive Investment has closed one of the largest 2020 deals in Los Angeles with its purchase of the Mountain View Manor apartments at 12960 Dronfield Ave. in Sylmar, where 200 units traded for $29.4 million, or $147,000 per unit.

Beauty Company Leases Warehouse in San Fernando

JocottBrands Inc. has signed a 65,550-square-foot warehouse lease in the city of San Fernando.

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Council OKs Westfield’s Promenade

$1.5 billion Warner Center project has affordable housing.

Los Angeles City Council voted last week to approve the long-deliberated Unibail-Rodamco-Westfield project Promenade 2035 at Warner Center.

Property Managers Wait for Other Shoe to Drop

LIST: Landlord reps worry December lockdown may undo rent collection gains.

Since the economy bottomed out last spring, rent collections at malls and other retail centers in North Los Angeles have seen monthly incremental hikes as landlords and tenants engage in a delicate dance of payment agreements.