Relocation: Morton Manufacturing, a maker of fasteners for the aerospace industry, is leaving Santa Clarita for a new headquarters in Lancaster. Morton, will move next year into an 86,000-square-foot building planned for construction on a 10-acre site at the Lancaster Business Park. The company’s 200 workers will transfer to the facility and Morton plans to add 100 positions after the move.
SAN FERNANDO VALLEY
Homed In: Ryland Group Inc., a Westlake Village real estate services company, has reached a deal to acquire the Charlotte and Raleigh. N.C., operations and assets of Timberstone Homes, a Concord, N.C., homebuilder. Ryland will pick up 870 new lots and homes for future sales. Financial terms of the deal were not disclosed.
Name Change: Nevers Palazzo Maddux & Packard PLC, a corporate and business law firm in Westlake Village, has changed its name to Nevers Palazzo Packard Wildermuth & Wynner PC. The name change reflects the contributions of shareholders Michael Wildermuth and Rob Wynner.
SoCal Acquisition: Younan Properties Inc., a Woodland Hills owner and manager of office properties, has completed acquisition of the Anaheim Corporate Center from LNR Partners LLC, a Miami mortgage lender. The 54,000-square-foot center is at 1400 N. Kellogg Drive. Financial terms of the deal were not disclosed.
Medical Pickup: Trifecta, a provider of online services for clinical trials, has acquired Virtual Clinical Solutions, a Nashville, Tenn., provider of training services for clinical trials. VCS operates in 120 countries with more than 300,000 clinical researchers for a variety of pharmaceutical companies. VCS’ headquarters will move to Los Angeles but the company will retain a presence in Nashville.
Property Booked: Bed Bath & Beyond Inc., a Union, N.J.-based home furnishings retail chain, has purchased a Torrance retail building for nearly $7.64 million from Regional Management Co. The 35,978-square-foot property at 3700 Torrance Blvd. was a former Borders Books. Bed Bath & Beyond plans to open a shop there by the fourth quarter of this year.
New Digs: ARC Engineering Inc., a Sherman Oaks firm that specializes in performing and media production facilities, is moving its headquarters to Burbank. ARC will be the first tenant to move into the 65,000-square-foot Media Town Spaces development, which runs along Lake Street a few miles west of the Golden State (5) Freeway. Terms of the lease were not disclosed.
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