Michael Aushenker
Staff Reporter
Phone: 818-316-3123
Recent Stories
Chatsworth Apartments Sell for $102 Million
Waterstone, a 354-unit apartment building in Chatsworth, has sold for $101.8 million, or more than $288,000 a unit.
Simi Valley Apartments Sell for $190 Million
A two-property multifamily portfolio totaling 504 units sold in Simi Valley for $190 million, or nearly $377,000 per unit.
Rare Industrial in Conejo Valley
Sares Regis Group finishes up construction on a pair of Thousand Oaks warehouses.
At a time when the industrial market has seen high demand but scarce inventory, Sares Regis Group is about to bring the Conejo Spectrum Gateway project online in Thousand Oaks.
Public Storage Hunts for ‘Opportunistic Growth’
REIT acquires two portfolios for combined $3.3 billion price tag.
Big deals from throughout the greater Valley region.
Historic CBS Studio Purchased for $1.8 Billion
Studio City site hosted shows from ‘Gunsmoke’ to ‘Seinfeld.’
Big deals from throughout the greater Valley region.
How Can Golf Greens Become Even Greener?
Sustainability factors into club’s $10 million revamp.
El Caballero Country Club unveils $10 million renovation.
JEDI Zone Established on Lankershim in NoHo
L.A. City Council approves first development areas.
The Los Angeles City Council has established the city’s initial Jobs and Economic Development Zones, shorthanded as JEDI, creating a new tool to spur economic growth and jobs creation. One of the first two zones will be in North Hollywood.
AROUND THE VALLEYS
News from the Valley area
Thousand Oaks Approves Caruso’s Lakes Residential Development
The property where the Caruso company’s Lakes retail center is located in Thousand Oaks will be sold to Rick Caruso in a deal that will allow the real estate developer to add a six-story residential apartment building to the site.
Tejon Ranch’s Centennial Project to Advance After Agreement With Environmental Group
Tejon Ranch Co. will see its long-stalled 6,700-acre Centennial master-planned project near Gorman go forward after the company made an agreement with environmental nonprofit Climate Resolve to drop its lawsuit.
Residential Tower Eyed for Glendale
A 294-unit apartment building with a public plaza has been proposed for the city of Glendale.
Granite Sells Burbank Office Tower for Nearly $91 Million
A 152,834-square-foot office building in Burbank has sold for $90.5 million.
Winds Damage Dome Structure in Burbank
Santa Ana winds caused damage during the Thanksgiving holiday to a new dome structure being built at the intersection of Hollywood Way and Empire Avenue in Burbank.
Eldercare Complex Planned for Studio City
A developer plans to build a 145-unit assisted living facility in Studio City.
Ventura County Multifamily Sells for Nearly $40 Million
Calabasas-based Marcus & Millichap Inc. has brokered the sale of Ocean Villas, a 119-unit residential complex in Oxnard for $39.8 million.
$24 Million Burbank Campus to Be Rebranded as the Foundry
Montana Avenue Capital Partners has purchased a Burbank media production and office campus for $24 million.
Is It Wetland?
REAL ESTATE: Shawn Moradian wants to build on his 37 acres in Thousand Oaks, but he alleges a ‘backdoor deal’ has sabotaged the project.
Landowner wants to build on 37 acres but claims that ‘backroom deal’ has sabotaged his plans.
Studio Bonanza
Developers build next generation of film facilities in the East Valley.
Developers, investors, movie studios and support companies are working to build enough soundstages to meet increasing demand from newly launched streaming services, internet programmers and traditional production houses.
AROUND THE VALLEYS
Amgen Inc. announced it has broken ground on a new biomanufacturing plant in New Albany, Ohio.
Wanted: Would-Be Real Estate Brokers
Marcus & Millichap fellowship will train next-gen professionals.
Marcus & Millichap Inc. fellowship will train next-gen professionals.
Q Topanga Unveiled at Warner Center Event
Shawn Evenhaim’s second residential tower opens.
California Home Builders celebrated the grand opening of Q Topanga apartments.
Valley’s Early Player
Quixote got into studio rentals before the boom, but faces new competitors.
In the pre-pandemic days of August 2019, Quixote Studios got ahead of the content-demand curve when it opened its North Valley Studios at 12137 Montague St. in Pacoima.
Stages in Short Supply
With demand for content on the rise, developers hurry to build movie studios.
Construction of new production lots in the East San Fernando Valley has heated up.
Building an Epicenter
NBCUniversal expands production capacity on its lot to become the ‘content hub of the future.’
In what the company calls the “content hub of the future,” NBCUniversal is currently building eight soundstages in an expansion and updating of its century-old Universal Studios lot.
Multifamily Money Flows In Burbank
LaTerra Development plans pair of apartment projects.
With a third-quarter office vacancy of 8 percent, according to Colliers International data, Burbank has thrived throughout the pandemic as the center of media and tech companies, including movie studios Walt Disney Co. and Warner Bros., and various television networks and animation houses, including Netflix Inc.’s new animation studio.
Simi Valley Industrial in Build Mode
Stream Realty and QuadReal to bring 344,056 square feet.
Last month saw the groundbreaking of Tapo Canyon Commerce Center, a five-building 344,000 square foot industrial complex at 1800 Tapo Canyon Road in Simi Valley.
Developer Sues Agoura Hills Over Rejected Project
California Commercial Investment Cos. has filed a lawsuit against the city of Agoura Hills over the Westlake Village builder’s long-gestating plan to build Agoura Village East.
$199 Million Loan Will Fund Burbank Apartment Project
LaTerra Development and development partner QuadReal Property Group have announced the closing of a nearly $199 million construction loan toward the development of their 573-unit residential community at 777 N. Front St. project in Burbank.
Burbank’s Empire Landing Sold; Will Be Upgraded
Clarion Partners and Cityview have acquired a 276-unit multifamily property in Burbank for $161 million, or more than $583,000 a unit.
Marcus & Millichap Launches Fellowship Program
Marcus & Millichap Inc. announced the formation of the William A. Millichap Fellowship Program, a comprehensive two-year training and development initiative designed to prepare participants for commercial real estate careers.
DreamWorks Headquarters Sells for $327 Million
Toronto-based investment giant Brookfield is in the process of buying the Glendale DreamWorks Animation headquarters for $327 million.
Calabasas, Encino Appear on List of Priciest ZIP Codes
PropertyShark has released its annual list of the 100 priciest ZIP codes for residential properties and two of North Los Angeles neighborhoods – Encino and Calabasas – have made the ranking.
Acquisitive CEO
PROFILE: Hessam Nadji has negotiated a series of deals to prepare real estate brokerage Marcus & Millichap for the future.
An interview with Hessam Nadji, chief executive of real estate brokerage Marcus & Millichap.
Amazon-Leased Site Delivers Big Price
Simi Valley distribution facility sells for $128 million as a last-mile logistics hub for e-commerce giant.
Amazon.com Inc. leases another building, this time in Simi Valley.
CBRE Finds Commercial Market Shift
Life sciences, health care and entertainment are drivers.
CBRE Group has released its third-quarter overview of sales and leasing in the industrial and office sectors for greater Los Angeles, including a submarket report on the San Fernando Valley.
AROUND THE VALLEYS
Teledyne Technologies Inc. beat Wall Street estimates on earnings and matched on revenue for the third quarter.
G4 Network’s Office Makes A Statement
Gaming channel gets Burbank home with pop culture vibe.
G4 digital and television network has unveiled its new office and studio broadcast space ahead of the revamped gaming outlet’s Nov. 16 premiere.
L.A. City Vaccine Mandate Starts Monday
In the city of Los Angeles, proof of COVID-19 vaccination will be required indoors at restaurants, bars, movie theaters, museums, fitness and yoga centers, nail and hair salons, and entertainment facilities hosting music and sports events.
Burbank Town Center Sells for $136 Million
Onni Group, a Canadian real estate developer best known for residential projects, has delved into retail with its purchase of the 1.2 million square foot shopping complex at 201 E. Magnolia Blvd.
Public Storage Pays $1.5 Billion for 56 Midwest Self-Storage Facilities
Glendale-based REIT Public Storage has paid $1.5 billion to acquire a portfolio of 56 self-storage facilities from developer All Storage.
Eight New Soundstages Coming to Universal Studios Lot
NBCUniversal will build eight soundstages in an expansion and updating of its century old Universal Studios lot.
LegalZoom Partners on Payment Processing for Entrepreneurs
LegalZoom.com Inc., the Glendale-based online legal document vendor, has partnered with Square to provide small businesses with point-of-sale payment software and operations management tools.
Two Ventura County Warehouses Sell for $15.7 Million
A pair of warehouses in Ventura County totaling 108,600 square feet sold for a combined $15.7 million, according to brokerage NAI Capital Commercial.
Princess Resumes Cruises From San Francisco
Princess Cruises has resumed service to San Francisco with its ship Ruby Princess.
Xebec to Build Two Warehouses in Sylmar
Xebec Realty will build more than 600,000 square feet of industrial buildings on 28 acres of land in Sylmar that the firm purchased last year for $92 million.
G4 Network Reveals Reimagined Offices in Burbank
G4 digital and television network has unveiled its new office and studio broadcast space ahead of the revamped gaming outlet’s Nov. 16 premiere.
$128 Million Buys Simi Valley Distribution Facility
A distribution facility in Simi Valley has sold for $128 million, or roughly $441 per square foot.
Has the Valley Run Out of Industrial Space?
High demand for warehouses continues; supply is constricted.
High demand for warehouses continues, but supply is constricted.
LegalZoom Looks for Subscription Revenue
LAW: Executive team from Intuit tries to duplicate the TurboTax success model.
Former Intuit Execs at LegalZoom.com Inc. trying to recreate success of TurboTax.
SHEDDING SQUARE FEET
Office vacancy surges nearly 5 points in the Valley as companies look to downsize.
Valley companies look to shed space to prepare for the post-pandemic workforce.
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