Michael Aushenker

Joint Venture Breaks Ground on Supportive Housing Complex in Sylmar

Joint venture partners Meta Housing Corp. and LA Family Housing have officially broken ground on construction of Silva Crossing, a 56-unit permanent supportive housing project in Sylmar.

Housing Hot For Sylmar

Developer plans to build 132 units on Foothill Boulevard.

A mixed-use project with a large-scale residential component – featuring 132 one-, two- and three-bedroom units – has been proposed for Sylmar, according to city of Los Angeles records.

Reconfiguration of the Retail Sector in T.O.

Broker sees shopping centers transmuting, not dying.

While the “retail apocalypse” became a common chorus pre-pandemic due to the dominance of Amazon.com Inc.-led e-commerce — a phenomenon which only accelerated in the San Fernando and Santa Clarita Valleys in 2020 during lockdown — one high-powered broker said that store spaces and properties are giving way to other types of tenants and usages.

Faith in the Future of Office

Warner Landmark, former Anthem headquarters, to become creative offices.

An aging Warner Center building, vacant for more than a year, badly needs to reposition itself for the post-pandemic economy.

Performance Venues in Second Year of Shutdown

LIST: For live entertainment planners, uncertainty remains the looming challenge.

Local performing arts and cultural centers – unable to stage concerts or invite audiences to see plays – have felt the brunt of the pandemic.

Home Sales Solid as New Year Dawns

Low interest rates, inventory drive up prices in January.

Interest rates near historic lows fueled strong Valley home sales last month, pushing prices higher even as the inventory of homes for sale fell to a record low, according to a Southland Regional Association of Realtors report.

Scooters’ Slow Rollout in Valley’s Downtown

TRANSIT: After a viral hiatus, scooters return to sidewalks and streets in Warner Center.

Scooters from Lime have returned to Warner Center corners after disappearing since the onset of the coronavirus pandemic.

Warner Center Firm IMG Sells North Carolina Apartments for $30 Million

Woodland Hills-based real estate firm Investors Management Group Inc. has sold a two-property multifamily portfolio in Raleigh, North Carolina to Abacus Capital Group for $29.8 million.

L.A. Kings, ASEC to Operate Rescued Santa Clarita Ice Rink

The city of Santa Clarita has awarded a contract to Los Angeles Kings and American Sports Entertainment Co. to operate an ice rink the city rescued in the fall.

Industrial Broker Joins Delphi

Mike Centurioni, a commercial real estate broker for the last 18 years, has joined Van Nuys-headquartered Delphi Business Properties Inc. as a senior vice president.

Low Interest Rates, Low Inventory Drive Up Valley Home Prices

Interest rates near historic lows fueled strong Valley home sales last month, pushing prices higher even as the inventory of homes for sale fell to a record low.

Small Business Survey Finds Resiliency During COVID-19 Impact

Ventura County’s Economic Development Collaborative, or EDC, in partnership with the California Small Business Development Center has conducted a statewide survey on COVID-19’s impact on California entrepreneurs.

Cal Lutheran Economists Win Bank of America Research Grant

The Bank for America Charitable Foundation has awarded California Lutheran University’s Center for Economic Research and Forecasting, or CERF, a $250,000 research grant to identify the total economic contribution of Hispanics by U.S. state.

Hospitality’s Hot Streak

Flurry of hotels are under construction, but is the boom set for a slowdown next year?

Coming Soon: 429 rooms at Sleep Inn in Palmdale, 241 suites at Sand Canyon Resort Santa Clarita and more than 1,500 hotel keys in the city of Burbank.

Black ENTREPRENEURS MONTH: Louis Perry Kadima Security Service Inc.

6345 Balboa Blvd., Encino Business: Building and personal security services (213) 688-3019 • Email: lperry@kadimasecurity.com Website: kadimasecurity.com

Construction Underway at Needham II

Developers open next phase for Santa Clarita park.

Construction on Phase II of Santa Clarita industrial park The Center at Needham Ranch has begun.

New Plan for Ex-Anthem Headquarters

Warner Landmark building to upgrade.

Film producer Avi Lerner, owner of the former headquarters of health insurer Anthem Blue Cross, has proposed a plan to redevelop his Warner Landmark building at 21555 Oxnard St. in Woodland Hills.

Black ENTREPRENEURS MONTH: Melissa Hanna Mahmee

Sherman Oaks Business: App that advises new mothers (818) 431-1118 • Email: hello@mahmee.com Website: Mahmee.com

Black ENTREPRENEURS MONTH: Laurent ‘Lou’ Correa Lou, the French on the Block

4007 W. Riverside Dr., Burbank Business: French bakery (747) 241-8205 • Website: Louthefrenchontheblock.com

Rearview Mirror Helps Judge the Road Ahead

Brokers talk property sectors after year of uncertainty.

Two brokers in the trenches of the North Los Angeles commercial real estate market spoke to the Business Journal about how 2020 went and what we can expect through 2022.

New Offices At Universal

Business campus will rise on the studio’s backlot.

A 400,000-square-foot office campus is coming to NBCUniversal.

Caruso Wins Approval to Build Apartments in Thousand Oaks

Caruso has received unanimous approval to rezone land behind its retail center The Lakes for a residential project.

Mixed-Use Residential Development Aims for 132 Units in Sylmar

A mixed-use project with a large-scale residential component has been proposed for Sylmar, according to city of Los Angeles records.

Santa Clarita Retail Center Sells for Nearly $10 Million

Sierra Crest Center, a retail and office center in Santa Clarita, has sold to a joint venture group for $9.9 million.

Nine Houses Proposed for Half-Acre in Winnetka

Winnetka may have new housing soon, according to city of Los Angeles Planning Department documents.

Residential Development Denied at Camarillo Golf Course

A rezoning request to build 79 homes at a golf course has been rejected by the Camarillo City Council.

Tarzana Firm Pays Nearly $101 Million for Denver Apartment Complex

Tarzana-based real estate investment firm Gelt Inc. announced has acquired Regatta Apartments, a 352-unit multifamily community in the Denver metro market for nearly $101 million.

Universal Studios to Build Office Campus on Backlot

A 400,000-square-foot office campus is coming to NBCUniversal in Universal City.

Santa Clarita Valley

Office vacancy rose in the quarter to 17.5 percent – the highest rate in a year.

Industrial Logs Strong Quarter, More Ahead

New Colliers team talks about deals and optimism for 2021.

The surprise sector of 2020 continues to deliver big paydays.

San Fernando Valley

Office tenants vacated 185,260 square feet of space during the fourth quarter, with most it in the West Valley.

Antelope Valley

A healthy 38,000 square feet of industrial space sold or leased during the fourth quarter, according to Colliers data.

TARMAC ASSETS

Investors take a keen interest in industrial real estate near aviation hubs in Van Nuys and Burbank.

In a year when aviation took a dramatic nosedive, real estate surrounding San Fernando Valley airports received high interest from investors and property managers during 2020.

Conejo Valley

Office vacancy loosened to 17.4 percent, a significant uptick from 13.9 percent the previous quarter.

Valley Exodus Heads to Texas

RELOCATION: Are company exits part of larger trend?

The list of companies leaving the Valley is long. In the few years, home-selling company Rex, staffing company ASGN Inc., chocolatier Nestle USA and aerospace manufacturer Incora have exited to either Texas or Virginia.

Tribe Gets Seat on Fernando Board

Representation to give recognition to Valley’s indigenous peoples.

A silver lining has emerged after the vandalization of the Native American obelisk at Warner Center Park during last May’s civil unrest: the Fernandeño Tataviam Band of Mission Indians now holds a seat on the board of the monument’s sponsor, the Fernando Awards Foundation.

Black Entrepreneurs Month: Justine Belyeu

As nonessential businesses under the state’s COVID-19 regulations, hair salons have been at least as vulnerable as restaurants and bars during these pandemic times.

Burbank and Glendale

In Burbank, office vacancy climbed to 7.6 percent compared to 6.4 percent in the third quarter as tenants exited 87,324 square feet.

Warner Center Firm Makes $43 Million Investment in Georgia Multifamily

Warner Center-based real estate firm Investors Management Group has acquired an Atlanta apartment complex for $42.9 million, according to the company.

Needham Ranch Begins Second Phase of Construction

Construction on Phase II of Santa Clarita industrial park The Center at Needham Ranch has begun.

Warner Landmark Property Ready for Revamp With Hotel

Avi Lerner has proposed a plan to redevelop the building called Warner Landmark at 21555 Oxnard St. in Woodland Hills.

Former L.A. City Councilman Englander Sentenced

A federal judge has sentenced former Los Angeles City Council member Mitch Englander to 14 months in prison after Englander admitted to obstruction of justice.

Calabasas Real Estate Developer Indicted in Bankruptcy Fraud Case

A Calabasas-based real estate developer has been indicted for bankruptcy fraud and concealing money from creditors in shell companies, according to the Department of Justice.

Thousand Oaks Development With 300 Apartments Heads to City Council

Orange County developer Mill Creek Residential is proposing to create a mixed-use development with 300 apartments on East Thousand Oaks Boulevard.

Retail Corner in San Fernando Trades for $2 Million

A single-story, two-tenant retail property in the city of San Fernando has sold for $2 million, or $382 per square foot.

Matthew Luchs Named COO at Marcus & Millichap’s Brandon Michaels Group in Encino

Calabasas-based real estate brokerage Marcus & Millichap Inc. has announced that Matthew Luchs has joined its Brandon Michaels Group as chief operating officer.

Pair of Burbank Office Buildings Fetch $5.7 Million

Two Burbank office buildings have sold for a combined $5.7 million.

Valencia Planned Development Sells 487 Homes in Fourth Quarter

Real estate developer FivePoint has announced that Valencia, the formerly named Newhall Ranch planned community under construction in the Santa Clarita Valley, sold nearly 500 homes in 2020’s fourth quarter.

Tejon Ranch’s OK to Build Multifamily

Kern County greenlights potential 495-unit project.

Commercial developer Tejon Ranch Co. has announced that the Kern County Board of Supervisors has approved two conditional use permits to authorize development of multifamily apartments at the Tejon Ranch Commerce Center.

Industrial Might in the Heart of the Valley

The city of San Fernando caters to business owners fond of a small-town feel.

Surrounded by industry-heavy Sylmar to the north, Mission Hills to the west and Pacoima to the southeast, the city of San Fernando is one of the smallest cities in the region.

Staff Reporter

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