EAST LOS ANGELES
Nasdaq Drop: Response Genetics Inc., an East L.A. maker of diagnostic tests, was delisted from the Nasdaq Capital Market last week and began trading on the Over-the-Counter market. Nasdaq had warned the company a year ago that it wasn’t meeting the minimum bid price requirement of $1 a share. The exchange then warned the company in December that stockholder equity had fallen below the minimum of $2.5 million.
Industrial Acquisition: Borman Group has purchased a Boyle Heights industrial property for $8.7 million from Taverner & Fricke Inc. The 44,550-square-foot multitenant building is at 1451-73 E. Fourth St.
DOWNTOWN LOS ANGELES
Lease Deal: Clothing Illustrated Inc. has taken 37,500 square feet at a downtown L.A. industrial property in a $1.5 million lease deal with 2014 East 15th Street Associates. The two-story building is at 2014 E. 15th St.
SAN GABRIEL VALLEY
SOUTH EL MONTE
Building Purchase: Private investor Lily Lowe has sold an El Monte industrial building for $1.1 million to Elements. The 9,000-square-foot freestanding property is at 9710 Klingerman St.
SAN FERNANDO VALLEY
Multifamily Pickup: Lion Real Estate Group has acquired a Reseda apartment building for $15.5 million from Benedict Canyon Equities. The 100-unit, 74,457-square-foot Park Sienna Apartments I property, at 6425 Reseda Blvd., was built in 1969 and remodeled in 2000.
Down to Business: Van Nuys-based Valley Economic Development Center, or VEDC, held the grand opening for its Pacoima Entrepreneur Center, built by VEDC to help revitalize and create jobs in the economically distressed community. The three-story, 13,895-square-foot building, at 13420 Van Nuys Blvd., was made possible by a $3.8 million grant from the U.S. Economic Development Administration. VEDC anticipates the center will create and or place at least 350 jobs over the next five years.
New High: A partnership trading as 6401 Wilshire Blvd. sold the Beverly Hills apartment properties at 444 and 446 N. Oakhurst Drive for $10.1 million to Oakhurst Development. At nearly $804 a square foot, the price for the 12,600-square-foot, two-building acquisition is the highest this year in the 90210 ZIP code. The building at 446 N. Oakhurst features eight bachelor and eight studio units; the other building has four one-bedroom and two two-bedroom units.
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