Stories for September 2018

Friday, September 28

Judge Rejects Appeal of Approval of Refinery Expansion Project

A local judge has rejected an appeal of the environmental approval for the $460 million refinery merger and expansion project proposed by the former Tesoro Corp.

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AEG Announces Thailand Entertainment District and Arenas

Anschutz Entertainment Group Inc. will partner with a Thai developer and mall operator to build two arenas and accompanying entertainment districts in Bangkok, according to a Sept. 27 announcement.

Silicon Beach Report Sept. 28: Is Disney Looking for an Even Larger Stake in Hulu?

Disney may be looking to snag a larger stake in Hulu; GLAAD includes video games in awards; H Code launches digital marketing

Clearlake to Purchase Glass Fiber Manufacturer

Private equity firm Clearlake Capital Group has agreed to purchase ASP Unifrax Holdings Inc. in N.Y. Terms of the deal were undisclosed.

WndrCo Leads $7 Million Investment in Rally Rd.

Jeffery Katzenberg’s Beverly Hills-based media and technology investment fund, WndrCo, announced Sept. 27 it participated a $7 million Series A investment round for New York-based Rally Rd. The funding was led by Santa Monica headquartered Upfront Ventures Management.

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Preview: One-Person Car Dealer

Jerry Kroll has a simple if daunting mission for his Canadian electric vehicle company – to close the last gas station.

Educational Opportunity Knocks for Digital Sector

Commentary

Several industries have sprung to life after years of stagnant wages in California, offering both career opportunities and the potential for higher salaries amid the strong and steady job growth in Los Angeles and Orange counties.

Depressing Deja Vu

Commentary

Los Angeles has seen this movie before – another horrow show about homelessness.

STYLE | Dress Rehearsal

Scott Harrison • Los Angeles Chamber Orchestra Society Inc.

Performance-oriented

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Inflection Point on Homelessness

Time for “collective and unified action” including from businesses

Addressing homelessness through the community of business

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Parallel’s $16M Re-Fi in Arts District

Building renovations and new tenants help land new financing for building

Lenders refinance Arts District building.

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Summit Pushes L.A. as Bioscience Leader

Ridley-Thomas touts county’s ability to overtake rival San Diego market

L.A. County’s new Bioscience Summit eyes taking industry limelight from San Diego.

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MWD Taps Culver City Firm on Water App

Flo Technologies offers free water-monitoring devices to L.A. homeowners

Metropolitan Water District and Culver City water monitoring system maker team up.

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AEG, Kings Stake Claim in China Market

Club to operate affiliate with Beijing-based company signed on as sponsor

L.A. Kings adopt Chinese youth sports team.

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Deals & Dealmakers: PE Firms Purchase Meek’s

Deal adds building material supplier to roster, forms new parent company

Clearlake Capital and Angeles Equity Partners Purchase Meek’s Lumber Co.

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CHLA Pays $90M for Next-Door Parcel

Vons in sale, lease-back of 43,500-SF building

Children’s Hospital invests $90 million to buy neighboring Vons.

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PAGE 3: Horne’s Call; Powell’s Rank; Garcetti’s Travels

Some extra emphasis about the importance of Lew Horne’s contribution to this issue of the Business Journal came last week in a booth at the back of Canter’s Deli on Fairfax, of all places.

BH Firm Takes $10M Bite of Jerky

FINANCE: Monogram Capital’s third investment

Private equity firm Monogram Capital feeds appetite for jerky with another investment.

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Chambers Adapt to New Reality

ECONOMY: Nonprofit units could offset declines

Amid declining membership, Chambers of Commerce adopt new survival tactics.

Segal’s Road Trip

RETAIL: Fashion brand heads overseas

In a brick-and-mortar-challenged climate, how has Fred Segal boosted foot traffic.

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Cedars Sets Sight on Stem Cells

Health Care: $2M grant; 450 jobs on tap

Cedars-Sinai invests in stem cell manufacturing.

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AMENITIES ARMS RACE

Developers look to attract, retain tenants

Amenities are property owners’ newest ammunition to win office tenants.

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2020 VISION

The $2.6-billion centerpiece of Stan Kroenke’s $5-billion vision for Inglewood development passes halfway mark

Inglewood’s up and coming L.A. Stadium.

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Clorox Backs Homeless Effort

NONPROFITS: Lincoln Heights-based Dolan pairs up with shower service

Dolan Group secures funds for laundry truck.

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L.A. RISING

Chinatown: Ripe for New Round of Development

The developments profiled here highlight growing developer and investor interest in Chinatown and its adjacent areas.

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Thursday, September 27

Aiva Health Gets Investments From Google and Amazon

Aiva Inc., a digital health startup based in West Hollywood, has snared two investments in one week from tech behemoths Google and Amazon.com Inc.

Forever 21 Invests in DailyLook Subscription Service

Lincoln Heights-based retail giant Forever 21 has invested in downtown fashion subscription service DailyLook leading an $8 million Series A investment round that also includes Upfront Ventures

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PK Retail Leases 52,000 SF for U.S. Headquarters, Store in DTLA

PK Retail Holdings, a subsidiary of South Korea-based retailer Emart and Shinsegae Group, has signed a lease for nearly 52,000 square feet for its U.S. headquarters as well as a retail complex at 712 S. Olive St. in downtown Los Angeles.

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MWest Holdings Buys 128,200-SF Complex in San Pedro for $36.3M

Sherman Oaks-based real estate investment and management firm MWest Holdings has purchased a four-story, 89-unit, 128,200-square-foot condominium complex at 407 W. 7th St. in San Pedro for $36.3 million or nearly $407,600 per unit, from real estate investment company Bascom Group of Irvine.

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Silicon Beach Report Sept. 27: WndrCo Invests $30 Million in The Infatuation Inc.

WndrCo invests $30 million in restaurant platform; Soon-Shiong distributes Zinc batteries to Africa and Asia; Kovacs named new LAVA president.

OpenGate Capital to Sell Nakan for $265 Million

Century City-based private equity firm OpenGate Capital announced an agreement to sell portfolio company, Nakan, for $265 million to Houston-based Westlake Chemical Corp.

Wednesday, September 26

Forecast: California Economy Will Continue to Grow, But Pace Will Slow in 2020

California’s economy will continue to grow in the coming years but the pace is expected to slow alongside a slowing economy on the national level, according to the UCLA Anderson Forecast, which was released on Sept. 26.

Los Angeles Convention Center Installs Permanent 5G Network

The Los Angeles Convention Center just added 5G capabilities to its growing list of offerings designed to draw business to downtown.

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EPA and Inglewood-based Rho-Chem Reach a $473,500 Settlement

The federal Environmental Protection Agency said it has settled with Inglewood-based recycling and storage facility Rho-Chem regarding hazardous waste violations the agency found during a prior inspection.

SCAN Health Plan of Long Beach Names New Legislative Advocate for Seniors

SCAN Health Plan, a Long Beach-based nonprofit insurer for Medicare Advantage, has appointed Adrienne Morrell to serve as its senior vice president of public, government and community affairs.

Silicon Beach Report Sept. 26: Lunar Mission on Horizon for SpaceX

SpaceX sending Japanese robots to moon; Blizzard distributes demos; Bonfire Ventures seeks $20 million

Local Energy Firm Executive Forms Project Financing Company

The chief executive of Arensis Corp., a downtown provider of micro waste-to-energy systems, has formed a separate project financing company that will use blockchain and smart-meter technology to better target potential customers, Arensis announced Sept. 25.

City of Lynwood Considers Buying St. Francis Medical Center

The City of Lynwood has expressed interest in buying St. Francis Medical Center a month after its nonprofit operator filed for bankruptcy.

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High Times Acquires Regional Marijuana Magazine

The company behind High Times magazine announced Sept. 26 that it bought Dope Media, a Seattle-based cannabis lifestyle magazine.

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UCLA Strikes $38M Naming Rights Deal With Wescom Credit Union for Basketball Pavilion

UCLA and Wescom Credit Union have agreed upon a 10-year, $38 million partnership that will rename the school’s basketball arena from Pauley Pavilion to the Edwin W. Pauley Pavilion presented by Wescom.

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Tuesday, September 25

Survey Finds 28 Percent of L.A. Professionals Workers Have Quit Jobs Due to Long Commutes

Twenty-eight percent of Los Angeles-area professional office workers have quit a job at some point in their lives because of long commutes, according to a survey released Sept. 25 from San Francisco-based professional staffing firm Robert Half International.

Cedars-Sinai Researchers Develop Drug to Combat Pancreatic Cancer

A new drug developed at Cedars-Sinai Medical Center can prevent pancreatic cancer from growing in mice, while staving off resistance to chemotherapy agents commonly used by humans, according to a new study.

KCRW Parts Way With Director of Programming

Gary Scott is leaving as program director of KCRW 89.9 FM after six years as editorial head of the Santa Monica-based public radio station.

Artists Sue Sony Over International Streaming Payment Method

A Beverly Hills attorney filed a class action lawsuit in New York federal court on Sept. 25 alleging that Sony Music Entertainment Inc. underreports streaming revenues in international markets by giving money to subsidiaries that legally should go to the artist.

Monogram Capital Partners Invest $10 Million in Country Archer Jerky

Beverly Hills-based private equity firm Monogram Capital Partners made its latest investment in food company Country Archer Jerky Co., for $10 million.

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Audax Group Buys Controlling Interest in Acuant

Boston-based private equity firm Audax Group Inc. bought a controlling interest in Culver City-based identification verification software developer Acuant Inc. in a deal finalized Sept. 24.

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Best Places to Work 2018: How We Did It!

Custom Content by the Los Angeles Business Journal

The Best Places to Work in Los Angeles is an annual celebration of elite employers who have proven that they know what it takes to create environments where people love to come to work.

The Best Places to Work in Los Angeles: A Look at the Winners

Custom Content by the Los Angeles Business Journal

WHAT MAKES A COMPANY A GREAT PLACE TO WORK?

Silicon Beach Report Sept. 25: ATTN: Raises $15 Million

$15 million for Hollywood digital media firm; Amazon and Snap ink deal for barcode scanning; Tinder testing new controls for women.

CHLA Buys Vons Property Adjacent to Hospital for $90M

Children’s Hospital Los Angeles has purchased the 43,500-square-foot Vons supermarket at 4520 Sunset Blvd near Los Feliz for $90 million, or nearly $2,100 per square foot, from Pleasanton, Calif.-based food-and-drug retailer Safeway Inc.

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Who's Building L.A. (September 24): Commercial Real Estate - To Lease or To Buy

Custom Content by the Los Angeles Business Journal

You should compare the benefits of leasing versus buying your property from a cash standpoint, as well as the more obvious needs standpoint, such as long term space requirements and expansion possibilities.

Who's Building L.A. (September 24): More than Construction: We Build, Value, People, Trust

Custom Content by the Los Angeles Business Journal

Build Group entered Southern California in late 2016 and have embarked on an aggressive journey to match their success in San Francisco since their inception in 2008.

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Monday, September 24

Who's Building L.A. (September 24): Los Angeles Can Thrive with Living Buildings

Custom Content by the Los Angeles Business Journal

For years, sustainability has been more than just a buzzword in the construction industry – and with good reason.

Who's Building L.A. (September 24): Local Developer Creates Partnership with Parkview Financial to Ensure Multifamily Restoration Continues

Custom Content by the Los Angeles Business Journal

With 40 years of experience under his belt, Marvin Markowitz is no stranger to the real estate community.

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Who's Building L.A. (September 24): Avalon - WEST HOLLYWOOD

Custom Content by the Los Angeles Business Journal

Avalon West Hollywood offers a multi-generational urban lifestyle that embraces the energy of its surrounding movie industry neighborhood and the vibrant street-life of Santa Monica Boulevard.

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Silicon Beach Report Sept. 24: Hulu Becomes First Echo Show Live Stream

Hulu to broadcast on Amazon Echo Show; FabFitFun starts live programming on Facebook; Geldmacher and Ricca join Scopely

Who's Building L.A. (September 24): Oceanwide Plaza - DOWNTOWN

Custom Content by the Los Angeles Business Journal

Oceanwide Plaza, the first North American development by prominent international developer Oceanwide Holdings, is set to become one of the most significant mixed-use developments in the history of downtown Los Angeles.

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Who's Building L.A. (September 24): Circa - DOWNTOWN

Custom Content by the Los Angeles Business Journal

Circa is a new collection of luxury apartments unlike anything Downtown Los Angeles has seen before.

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Dignity Health California Unveils Plans for New Hospital Tower at DTLA Campus

Dignity Health California Hospital Medical Center on Sept. 24 unveiled plans to build a new patient care tower to serve as the hub for a $215 million campus makeover near downtown.

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$870 Million Approved to Expand On-Dock Rail Facility at Port of Long Beach

The Port of Long Beach Harbor Commissioners approved an $870 million budget for an on-dock rail facility that plans to largely shift cargo movement from trucks to trains.

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Game Maker Scopely Adds Two

Scopely Inc., the Culver City mobile game developer behind titles such as “Walking Dead: Road to Survival” and “WWE Champions” is expanding its corporate development and communications divisions.

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Private Aviation Guide (September 24): Coalition Urges Senate Passage of Long-Term FAA Reauthorization Legislation

Custom Content by the Los Angeles Business Journal

The National Business Aviation Association (NBAA) last month joined a broad coalition of aviation groups in calling on the U.S. Senate to expedite legislation that would provide a long-term reauthorization for the Federal Aviation Administration (FAA).

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Private Aviation Guide (September 24): Why Private Aviation Makes So Much Sense

Custom Content by the Los Angeles Business Journal

Business aviation has become essential to tens of thousands of companies of all types and sizes in the U.S. that are trying to compete in a marketplace that demands speed, flexibility, efficiency and productivity.

CFO Awards 2018 Nominees: Bank Economists See Economy Pushing Unemployment Rate to New Lows

Custom Content by the Los Angeles Business Journal

This year the U.S. economy will enjoy its strongest growth this cycle, pushing unemployment to the lowest rate in nearly half a century, according to the Economic Advisory Committee of the American Bankers Association.

CFO Awards 2018 Nominees: Treasury and Finance Professionals Earned Average Raises of 4.3% Last Year

Custom Content by the Los Angeles Business Journal

The 2018 AFP Compensation Survey revealed that 71% received bonuses last year, down slightly from the previous survey

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CFO Awards 2018 Nominees: Viewing Total Health as a Business

Custom Content by the Los Angeles Business Journal

At Kaiser Permanente, everyone—myself included—are advocates for total health.

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CFO Awards 2018 Nominees: How Closely-Held Companies Often Use Employee Stock Ownership Plans

Custom Content by the Los Angeles Business Journal

Often, owners of successful closely-held companies are concerned for what will happen to their dedicated employees— and the business itself—long before they ever consider selling or departing from the business.

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CFO Awards 2018 Nominees: Solving the Succession Puzzle - Tips to a Successful Transition for Your Business

Custom Content by the Los Angeles Business Journal

One of the most significant risks to the future of any business is often overlooked

CFO Awards 2018 Nominees: Pioneers of Design-Build and Integrated Project Delivery Focus on Supporting Clients’ Success

Custom Content by the Los Angeles Business Journal

Since 1963, Pankow has benefited clients through creative problem-solving, engineering expertise and construction innovation.

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Friday, September 21

Silicon Beach Report Sept. 21: Not Impossible Labs, Avnet Team Up for Wearable Health Tech

Not Impossible Labs and Avnet developing wearable device to help people with motor-related health issues; Hulu redesigns for the computer screen and mouse; new CEO at X1 Discovery

CFO Awards 2018 Nominees: Eco-Friendly, Energy Savings with Solar Water Heating

Custom Content by the Los Angeles Business Journal

SoCal residents and businesses are taking important steps to reduce their environmental impact and conserve natural resources.

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Archstone Foundation Awards $1 Million to UCLA to Help Seniors

The Archstone Foundation has donated $1 million to UCLA to expand an endowed chair in geriatrics to improve the health care of older people.

Brown Signs Bill Granting Edison, Other Utilities, Some Relief from Wildfire Damage Claims

Gov. Jerry Brown on Sept. 21 signed a bill granting shareholders of Southern California Edison and the state’s two other investor-owned utilities some relief from potentially billions of dollars in future wildfire damage claims.

L.A. County Unemployment Rate Held Steady at 4.5 Percent in August

L.A. County’s unemployment rate held steady at 4.5 percent in August for the third straight month, even as the county recorded sizable job gains, according to state figures released Sept. 21.

CFO Awards 2018 Nominees: Eight Insights for CFO of the Year Awards

Custom Content by the Los Angeles Business Journal

As the longest serving Los Angeles Business Journal judge, it is amazing to see all of the accomplishments and great talent Los Angeles has to offer.

CFO Awards 2018 Nominees: Three Things Every Middle Market CFO Needs to Do About Cyber Risk

Custom Content by the Los Angeles Business Journal

You and I are playing a word association game and I say, “Target. Sony. Equifax.”

CFO Awards 2018 Nominees: Proposed Rules on the Definition of SSTBs

Custom Content by the Los Angeles Business Journal

One of the more controversial aspects of the recent tax reform is that while corporations received a generous rate reduction (to 21%), rates generally remained higher for sole proprietors and owners of passthrough businesses.

Is Your Janitorial Services Provider Registered?

Commentary

In the first half of this year alone, janitors who clean the facilities of three major businesses in California were awarded millions in lost wages.

Hope Takes the Field

Commentary

Take some time to enjoy this hopeful moment as it hovers over professional playing fields and arenas from downtown to Carson, from Chavez Ravine to Exposition Park.

STYLE | Deco Debonair

Lloyd Greif • Greif & Co.

Art of the attack

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Downtown Distinction: Millennial Move-Ins

ZIP codes top nation for fast-growth of cohort’s share of population

Two downtown ZIP codes top charts for attracting millennials.

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Deals & Dealmakers: Westhook Gets Landscaper

Deal comes on heels of $140 million inaugural fund annoucement

PacWest acquires El Dorado Savings for $467 million.

Artisanal’s Heady Brew Leads to Fast Growth

Tony Yanow’s Golden Road follow-up set to open 13th location, more to come

Artisanal Brewers Collective expands footprint in L.A.

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Live Nation Draws Ire of UK Trade Group

Company referred to British regulatory authority as it consolidates market share

Live Nation faces more scrutiny in the U.K.

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Trains to Planes

Crenshaw-LAX line nears completion, will add 8.5 miles to local rail network

What will the 8.5-mile Crenshaw-LAX line look like when done?

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2 HQs Renew Leases in Compton Area

Cosmetics maker, video production firm combine for 81,000 square feet

Compton market gains $4.5 million in lease renewals.

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PAGE 3: In the Pink on La Brea; Milken’s Man in D.C.

Richard Pink is playing it by the numbers and keeping family in mind as Pink’s Hot Dogs prepares to mark 78 years in business on Sept. 27.

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Billboard Expands Brand

Media: Media group buys music news site Amplify

Long Beach entertainment news website Amplify Media sells to Billboard Music Group.

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Brokers Hold High Ground

REAL ESTATE: Growth rate down from blistering pace

Last year’s comparatively small uptick in L.A. County deal values suggests a slower time ahead for commercial real estate.

Enspire Aims to Collaborate

Health Care: UCLA bioscience spinoff tests model

Enspire Bio unveils a new business model for biotech startups that utilizes collaboration.

Patented Diet on Fast Track

HEALTH CARE: Sales of 5-day kits up sharply

Fasting? It’s good for you, according to L-Nutra, and a USC clinical trial.

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Carson’s Bigger Ambition: 1.8M SF

RETAIL: City eyes retail, hotel, housing next to mall

Carson is slated to be the next home for a premium outlet mall – and more – to be built by Macerich Co. and Simon Property Group.

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GAMING GURU

Newest addition to billionaire Soon-Shiong’s list of honorifics

E-sports has caught the eye, and dollars, of bioscience billionaire Patrick Soon-Shiong.

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Associated Press Goes Hi-Fi

Technology: Will bring news to music streaming services

Associated Press has found a way to add listeners: partner with Super Hi-Fi to embed news stories between streamed songs.

Thursday, September 20

F/ELD Raises $6 Million in Funding Round

Los Angeles-based cannabis products company F/ELD said it has raised $6 million in a funding round from cannabis investors.

Amgen Joins BioLA Project

Amgen Inc. has partnered with Los Angeles County to form a new organization aimed at advancing the region’s life sciences industry, the Thousand Oaks biotechnology company announced Sept. 20

Ron Howard, Brian Grazer Incubator Opens at WeWork’s PDC Location

WeWork Cos. Inc. has struck a deal with film director Ron Howard and movie and television producer Brian Grazer, to house their incubator Imagine Impact at its West Hollywood location at the Pacific Design Center’s Red Building at 750 N. San Vicente Blvd.

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CHLA-Based Consortium Awarded $6.6M to Advance Medical Devices

A pediatrics business consortium based at Children’s Hospital Los Angeles has been awarded a $6.6 million federal grant to foster medical devices to help sick kids, the hospital announced Sept. 20.

Billie Jean King Takes Minority Stake in L.A. Dodgers

Tennis legend Billie Jean King and her life partner, former tennis professional Ilana Kloss, will be officially announced as minority owners of the Los Angeles Dodgers on Sept. 21.

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Disney’s ESPN Streaming Surpasses 1 Million Subscribers

Walt Disney Co. streaming service ESPN+ has surpassed 1 million paying subscribers in just over five months, the company announced Sept. 20

CFO Awards 2018 Nominees: The Changing Role of a CFO: New Skills for Success

Custom Content by the Los Angeles Business Journal

ACFO has historically been envisioned as “the chief numbers person.”

CFO Awards 2018 Nominees: Expand Your Investment Options with REITs

Custom Content by the Los Angeles Business Journal

With modest economic growth and an extended bull market in stocks, is this the time for Real Estate Investment Trusts (or “REITs”)?

Telemundo No. 1 in Los Angeles Market

Telemundo Network’s KVEA (Channel 52) was the highest rated local news and prime time network in the 10 p.m. slot in the Los Angeles market for the prior broadcast season, the first time a Spanish language network was No. 1, according to Telemundo.

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Silicon Beach Report Sept. 20: Miso’s Fried Chicken Robot to Remain at Dodger Stadium

“Flippy” the robot will work at Dodger Stadium through end of season; Ring previews new hardware; WME invests in Panopoly Media

Gov. Brown Signs Straw Ban Bill

Measure prohibits restaurants from automatically providing plastic straws

Gov. Jerry Brown on Sept. 20 signed a bill prohibiting dine-in restaurants from automatically providing single-use plastic straws to customers; as of Jan. 1, straws can only be provided upon request.

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Associated Press Collaborates With Super Hi-Fi to Produce Streaming Newscasts

Fans of the Associated Press’ daily global news headlines will soon have a new way to keep up with them, thanks to a partnership with Westwood-based audio artificial intelligence firm Super Hi-Fi announced Sept. 19.

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CFO Awards 2018 Nominees: Profile of a Company that Does Things the Right Way

Custom Content by the Los Angeles Business Journal

In October 1971, Jennie and Gilbert de Cardenas immigrated to the U.S. from Cuba.

CFO Awards 2018 Nominees: Key Items of Tax Reform Law that Will Affect You

Custom Content by the Los Angeles Business Journal

On Dec. 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act.

Billboard Acquires Long Beach Live Music News Website Amplify

Billboard Music Group has acquired Amplify Media Inc., a live entertainment news website with offices in Long Beach, according to a Sept. 20 announcement by Billboard.

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Miso Robotics' Robot Chef Continues Work at Dodger Stadium

A Pasadena robotics and artificial intelligence outfit that’s been using a robot to fry chicken tenders at Dodger Stadium just gave the bots an upgrade to include the frying skill.

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CFO Awards 2018 Nominees: CEO Watch - Cyber Security Remains Real Threat, Especially For Small-to Mid-Size Firms

Custom Content by the Los Angeles Business Journal

Many business issues keep CEOs and CFOs up at night, but none may be more prevalent or critical than cyber security.

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CFO Awards 2018 Nominees: Seven Ways to Save Money on Small Business Health Insurance

Custom Content by the Los Angeles Business Journal

There’s one thing we can all agree on when it comes to health insurance: it’s expensive.

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CFO Awards 2018 Nominees: Tariffs - Assessing the Economic Impact

Custom Content by the Los Angeles Business Journal

Middle market to bear disproportionate burden of adjustment

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CFO Awards 2018 Nominees: New Guidelines Expand the Reach of REITs

Custom Content by the Los Angeles Business Journal

Before Congress created Real Estate Investment Trusts, or “REITs,” in 1960, investments in commercial real estate were only available to institutions and wealthier individuals.

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CFO Awards 2018 Nominees

Custom Content by the Los Angeles Business Journal

Brett Abbey Mob Scene Darlington Ahaiwe Woodcraft Rangers Phillip Ahn B. Riley Financial, Inc. Fernando Almodovar Child360 Jeanelle Arias Eureka! Restaurant Group Robert Berman CASA of Los Angeles Melissa Berninger Allied International Steven Binder

Wednesday, September 19

Rubber Compound Manufacturer Kirkhill Acquired for $49M

Downey-based Kirkhill Manufacturing Co., makers of rubber compounds used by the aerospace, medical and automotive industries has been acquired by Swedish competitor, Hexpol, for $49 million.

Duke Realty Buys 25.5-Acre Industrial Parcel in Irwindale

Duke Realty Corp., an Indianapolis-based real estate investment company, has purchased a 25.5-acre lot at 13131 Los Angeles St. in Irwindale from a private seller for an undisclosed amount, downtown Los Angeles-based commercial real estate brokerage firm CBRE Group Inc. announced.

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Meetings & Events Guide (September 17): Queen Mary - A Rich Legacy Leads to Unforgettable Event Experiences Today

Custom Content by the Los Angeles Business Journal

There was a time when transatlantic passage aboard an ocean liner was the most luxurious way to travel the world.

Meetings & Events Guide (September 17): Embassy Suites by Hilton – Los Angeles Airport South

Custom Content by the Los Angeles Business Journal

Experience the Difference at Embassy Suites by Hilton – Los Angeles Airport – South is the perfect venue for your small meeting or event.

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Meetings & Events Guide (September 17): Ventura County Coast - Bring Your Team to a Place of Inspiration

Custom Content by the Los Angeles Business Journal

Welcome to Ventura County Coast, where 200,000 square feet of conference and meeting rooms are surrounded by natural beauty, good food, handcrafted beverages and an endless supply of outdoor activities.

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Silicon Beach Report Sept. 19: Riot Games Inks Mastercard Deal

Mastercard to sponsor “League of Legends;” Newegg customer information hacked; March Capital Partners raises $13.6 million for ioTium

Apparel Manufacturer The Studio Raises $11 Million

The Studio, a downtown-based apparel manufacturer raised an $11 million Series A round led by Silicon Valley-based Ignition Partners.

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BioSig Technologies to List on Nasdaq

BioSig Technologies Inc., a medical device company based in West Los Angeles, will trade shares of its common stock on the Nasdaq Capital Market beginning Friday, Sept. 21.

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Meetings & Events Guide (September 17): Sofitel Los Angeles at Beverly Hills - More than a Hotel

Custom Content by the Los Angeles Business Journal

Sofitel Los Angeles at Beverly Hills blends Hollywood glamour, European elegance and French style.

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Meetings & Events Guide (September 17): Celebrate the Season at L.A. Zoo Lights

Custom Content by the Los Angeles Business Journal

Picture your holiday party in a place where the spirit of the season shines brightest.

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Tuesday, September 18

New Center for Discovery Opens in Glendale to Treat Eating Disorders

Discovery Practice Management Inc., an Orange County-based health company doing business as the Center for Discovery, has opened a new Glendale clinic to treat eating disorders.

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Cal Cartage Ordered to Pay Workers $3.5M in Back Wages

Long Beach-based logistics company Cal Cartage Co. was ordered to pay $3.5 million to more than 1,400 of its workers for violating labor laws.

2018 Fashion & Beauty Awards

THURSDAY, NOVEMBER 29, 2018

The Fashion & Beauty Awards will recognize the top apparel and beauty companies that drive tremendous economic growth in our region and make Southern California a major force in the business of fashion and beauty.

2018 Fastest Growing Private Companies

WEDNESDAY, NOVEMBER 7, 2018.

The Los Angeles Business Journal is proud to reveal the rankings of the top 100 Fastest Growing Private Companies

2018 Leaders in Law Awards

WEDNESDAY, OCTOBER 17, 2018

The Leaders in Law Awards recognizes the significant role that in-house counsel plays in the success of a business enterprise, and also the accomplishments of leading outside counsel within the Los Angeles business community.

Judge Denies Bid to Seal LA Weekly Lawsuit

A judge denied Sept. 18 LA Weekly publisher Brian Calle’s attempt to take out of the public record a lawsuit that LA Weekly co-owner David Welch filed against Calle and other LA Weekly investors.

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More Complexity Ahead For the Healthcare Industry in 2019: Legal Issues, Structural Changes, Insurance Cost Increases & Decreases

Custom Content from the Los Angeles Business Journal

There’s never a shortage of unique issues facing the healthcare industry, and 2019 will be no different.

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PacWest Bancorp Makes $467 Million Bank Buy

PacWest Bancorp, a Beverly Hills bank holding company, acquired El Dorado Savings Bank in a deal valued at $466.7 million, according to a press release.

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L.A. Moves Closer to Banning Sale of Fur

The Los Angeles City Council has unanimously voted for the drafting of legislation that will ban the sale and manufacture of fur-related products in the city.

WaveOptics Expands Into Southern California

United Kingdom-based augmented reality firm WaveOptics Ltd. announced Sept. 17 it will open its first United States operation headquarters in Manhattan Beach.

Silicon Beach Report Sept. 18: Elon Musk’s Lunar Pick

SpaceX moon orbit passenger announced; Lyft, Bird scooters go live in Santa Monica’s pilot program; Snapchat to publish CBC news content

Tetra Tech Awarded $21M Contract for Sustainability in Cambodia

Pasadena engineering firm Tetra Tech Inc. announced Sept. 18 that the U.S. Agency for International Development has awarded the company a $21 million, five-year contract to provide sustainability management and biodiversity conservation services in Cambodia.

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SnapMD Raises $7.1M to Market Telemedicine Platform

SnapMD Inc., a telemedicine company based in Glendale, announced Sept. 18 it had raised $7.1 million in series B funding.

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CHLA Receives $2.3M to Study Bone Loss Tied to Cerebral Palsy

A researcher at Children’s Hospital Los Angeles has received a $2.3 million federal grant to study bone loss associated with cerebral palsy, the hospital announced Sept. 18.

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Monday, September 17

COB_test

Community of Business (tm) September 17, 2018

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Gov. Brown Signs Bill Legalizing Sidewalk Vending

Gov. Jerry Brown on Sept. 17 signed a bill to decriminalize sidewalk vending and give cities the right to set up permit systems for street vendors.

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Silicon Beach Report Sept. 17: Sinemia Announces Unlimited Plan

Sinemia releases unlimited plan with limits; Fandango wins patent dispute over streaming services; Chatsworth Products receives awards

UTA Fine Arts Founder Josh Roth, 40

Josh Roth, who founded United Talent Agency’s Fine Arts Department, passed away at 40 years old, according to a company announcement Sept. 17.

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Data Center Equipment Maker CPI Received Innovation Awards

Chatsworth Products Inc., based in Westlake Village, announced Sept. 17 it received three innovation awards from the annual Cabling Installation and Maintenance Innovators Awards.

Giovanni Cosmetics, Evox Productions Renew Leases in Compton, Rancho Dominguez

The Compton area is keeping two of its business tenants, each of whom renewed leases for their corporate headquarters.

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Top-Read Stories of the Week

Top-Read Stories of the Week

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3 Technology Changes That Will Shape the Future of Accounting

Custom Content from the Los Angeles Business Journal

Technology brings us new levels of interconnectivity, providing real-time updates from news to social networks to sports. The ability to seamlessly collect information will also have a significant impact on the field of accounting. Three emerging technologies in particular—Blockchain, automation, and cloud software—will shake up some traditional accounting practices and streamline others. These new processes have the potential to drastically simplify some of the most labor-intensive parts of accounting and tax work and allow both company and accountant more bandwidth to focus on strategic planning.

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LA Entertainment and Digital Media Job Growth Outpaces National Rate

Los Angeles County is adding jobs in digital media and entertainment at a faster rate than New York City or nationally, according to a report released Sept. 17 by Beacon Economics, a Los Angeles research and consulting firm.

Friday, September 14

Port of Los Angeles Awarded $41 Million Grant

The Port of Los Angeles has received a preliminary award of $41 million by the California Air Resource Board to build freight facilities that are near zero-emissions.

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LA BioMed Hosts Biotech Conference on Biomedical Innovation

A bioscience conference hosted by LA BioMed featured nearly three dozen biomedical startup companies and declared Los Angeles as a national biotech hub.

City Attorney Secures Shut-Down of Two L.A. Businesses Selling Illegal Pharmaceuticals

The Los Angeles City Attorney’s Office on Sept. 14 announced it had shut down two businesses alleged to have sold misbranded, illegal and counterfeit pharmaceutical drugs.

Silicon Beach Report Sept. 14: Netfix Says It’s Not a Video Service Provider

Netflix argues against Missouri classification; SpaceX sending mystery man – or woman – to the moon; SnapChat bringing “Our Stories” to the newsroom

Saban Capital to Buy Panavision, Sim Video

Saban Capital Acquisition Corp., Panavision Inc. and Sim Video International Inc. have entered into a merger agreement to create a “global provider of end-to-end production and post-production services to the entertainment industry,” the companies announced.

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Banking & Finance Charts

Banking and finance by the numbers

Banking & Finance Quarterly

A special report on the banking and finance sector.

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Regulated Water Utilities: Investing In Tomorrow

Commentary

The U.S. has an infrastructure crisis

Look Again

Commentary

It’s almost too much of a cliché to say that looks can overshadow substance in Los Angeles.

STYLE | Higher Calling

Ryan Jennemann, co-founder of THC Design, was eager to show off the treasures the company discovered under the surface in the 103,000-square-foot warehouse-turned-cannabis cultivation center it has occupied for about two years.

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Will Loews Santa Monica Top $500M?

Recent deals in luxury segment of region’s hotel industry suggest as much

China’s Anbang Insurance Group could fetch $500 million or more for Loews Santa Monica Beach Hotel.

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Good Samaritan’s $100M Outpatient Project

Surgery suites, oncology, women’s health services part of 12-story tower

Good Samaritan Hospital has completed major upgrades to its health care facilities, inside and out.

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Shamrock Leads Sport Video AI Investment

Software package gives high school sports new options on highlights

Shamrock Capital Advisors led a $30 million investment round in artificial intelligence and sports video production firm Pixellot

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Deals & Dealmakers: EP Wealth Advisors Rolls On

EP Wealth Advisors acquires Caves & Associates’ $190 million assets under management.

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PAGE 3: AEG Fit to Be Thai’d? Bompard & Big Aristote

Word on the street around L.A. Live says AEG is ready for more than one night in Bangkok – stay tuned on that one …

Aegon Gets $23M for Pasadena Retail

Aegon USA Realty Advisors, a Cedar Rapids, Iowa-based limited liability company, has sold the two-story, 39,000-square-foot Walgreens building at 310 S. Lake Ave.

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Big Foundations Top $40B

The assets of Los Angeles County’s top 50 private charitable foundations and trusts collectively topped $41.1 billion last year, a 4.8 percent boost over the prior year.

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Brokerage Boss Faces Ban

FINANCE: BH firm’s appeal of FINRA ruling pending

Regulatory agencies put NMS Capital Advisors’ chair under the microscope.

Holograms Hit the Road

On-stage illusions afford new sort of second act for late crooners

Deceased performers live again as holograms and as a new revenue source for local companies.

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Social Impact Principal: Microloan Market Makes Niche for Fintech Co.

Banking & Finance Quarterly

Meet Shivani Siroya, founder of Santa Monica-based fintech-driven microlender Tala. The company has an eye on winning customers among some of the world’s nearly 2 billion people who don’t have access to banking services, a statistic reported by Paris-based think tank Convergences.

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Schatz Set to BID Farewell

Longtime advocate for downtown’s revitalization, Carol Schatz, to retire at month’s end.

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American Air’s $1.6B Plan

American Airlines plans to take off soon with a $1.6 billion renovation of two LAX terminals.

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New Tune on L.A. Rentals

Apartment developer and investor IMT Capital is tuning into Nashville’s hopping economy and real estate market.

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Legislators Launch Aerospace Caucus

A bipartisan effort by two Southern California lawmakers has led to the creation of the California Aerospace Caucus in Congress

Loans in Line

Tight housing supply appears to keep market stocked with credit-worthy borrowers

Home prices up, delinquencies and foreclosures down, in L.A. County’s housing market.

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Thursday, September 13

PlayVS Announces ‘Season Zero’ Launch Date

PlayVS Inc., the Santa Monica–headquartered high school e-sports league developer backed by Santa Monica-based Science Inc. announced Sept. 13 that Riot Games Inc.’s “League of Legends” will be the title played in the league’s first test season.

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Staar Surgical Wins Federal Approval to Sell New Lens

Staar Surgical Co., a Monrovia-based company that manufactures implantable lenses for the eye, announced Thursday it had won federal approval to sell a new lens to correct myopia with astigmatism.

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Hilton Foundation Picks Up Dole Headquarters for $50 Million

The headquarters of Dole Food Co. in Westlake Village has sold to the Conrad N. Hilton Foundation for $50 million, according to brokerage CBRE Group Inc.

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Tishman Speyer Putting 1 Million S.F. Wilshire Courtyard on the Market

Tishman Speyer, a New York-based real estate investment firm, will soon put up for sale Wilshire Courtyard, a two-building, 1 million-square-foot office campus located at 5700-5750 Wilshire Blvd. on the Miracle Mile.

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Silicon Beach Report Sept. 13: Singularity 6 Raises $2.5 Million

Former Riot Games execs raise $2.5 million for Singularity 6; WeWork acquires Teem; Boring Co. lands approval for parking garage tunnel

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Biocom Issues Achievement Awards to Los Angeles Life Science Industry Leaders

Biocom, a California trade group for the life science industry, has issued awards to seven Los Angeles business leaders under 40 years old for their contributions to the local industry.

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Huntington Park Shopping Center Acquired for $23.8 Million

Sterling Organization, a Palm Beach, Fla.-based private equity group, has purchased Margarita Plaza, a 77,000-square-foot shopping center located at 6900-7100 S. Santa Fe Ave. in Huntington Park, for $23.8 million, or $309 per square foot, in an off-market transaction with Rubenstein Capital, an Oakland-based real estate investment company.

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Wednesday, September 12

California Aerospace Caucus Launched in Congress

Two Southern California lawmakers on Sept. 12 announced the creation of the California Aerospace Caucus in Congress to promote legislation that supports the region’s aerospace industry.

Rancho Los Amigos Completes Outpatient Building and Hospital Institute Expansion

Two new medical buildings at Rancho Los Amigos National Rehabilitation Center were officially completed as part of a $418 million makeover of the Downey hospital.

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Report Finds UCLA Impact on the State Economy Tops $11B

The University of California-Los Angeles is the fourth-largest employer in Los Angeles County with more than 43,000 full-time employees, which helped the institution generate $11.06 billion in economic activity statewide during the 2016-17 fiscal year, according to a recent report.

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Charles Drew University Inks Agreement to Educate More Doctors for South L.A.

Charles R. Drew University of Medicine and Science in South Los Angeles inked an agreement with Ross University School of Medicine on Sept. 12 that could triple of the number of students who attend medical school.

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Silicon Beach Report Sept. 12: Cornerstone Picks Up Workpop

Cornerstone buys Workpop; Bird halts Raleigh service as Florence moves in; Hulu inks multi-year deal with Discovery Inc.

Shamrock Capital Advisors Sells Questex

Westwood-based Shamrock Capital Advisors announced Sept. 12 the sale of its portfolio company, Questex Intermediate Holdings Inc. to New York-based private equity firm MidOcean Partners.

Cornerstone OnDemand Acquires Hiring Platform Workpop

Santa Monica-based human resources management software developer Cornerstone OnDemand Inc. acquired Santa Monica hiring platform Workpop Inc. Sept. 12.

Longtime DTLA Advocate Carol Schatz Retiring; New DCBID Chief Named

Carol Schatz, who led a renaissance of downtown Los Angeles as head of the Downtown Center Business Improvement District and Central City Association for nearly three decades, will retire this month, the district announced Sept. 12.

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Tuesday, September 11

Macerich, Simon to Build 400,000-plus SF Retail Outlet Mall in Carson

Santa Monica-based Macerich Co. and retail developer and operator Simon Property Group Inc. announced they will join to build an outlet mall in Carson.

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Los Angeles County Aims to Protect Residential Facilities for Mentally Ill Adults

The Los Angeles County Board of Supervisors on Sept. 11 passed a motion to look into how to stem a decline in board-and-care homes for adults with mental illness.

Drinks Holdings Raises $15M

Glendale-based Drinks Holdings Inc., a patented e-commerce platform for wine aficionados, raised $15 million in a Series B capital round led by Beverly Pacific Holdings Inc., with Walnut-based Shea Ventures and Stable Road Capital Advisors Inc. in Venice in the mix on the institutional side.

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Dr. Ronald Victor, Pioneer of Barbershop Blood Pressure Studies: 1952-2018

Dr. Ronald G. Victor, a physician-scientist at Cedars-Sinai Medical Center who saved the lives of black men with hypertension by recruiting barbers to check their blood pressure, has died. He was 66.

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AEG Announces Expansion of Personnel for Global Touring

Downtown-based Anschutz Entertainment Group Inc. announced Sept. 10 the promotion of Gary Gersh to president of global touring. AEG also revamped its management structure to create a global touring division.

Tetra Tech Wins $60 Million Water Resources Contract from L.A. County

Tetra Tech Inc., a consulting and engineering firm based in Pasadena, has been awarded a $60 million water resources contract from Los Angeles County, the company announced Sept. 11.

$50 Million Grant to be Awarded to Port of Long Beach

The Port of Long Beach was approved for a $50 million grant to develop clean equipment and technology for various sectors of its cargo movement supply chain.

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UCLA Snares Top Spot on U.S. News Public University Ranking

UCLA is the top public university in the country and tied for 19th overall among public universities, according to the U.S. News and World Report’s latest annual ranking of undergraduate programs released Sept. 10.

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Silicon Beach Report Sept. 11: Boring Engineers Use Xbox Controller for Digging

Boring Co. found a way to dig tunnels with an Xbox controller – and then filmed it; Tinder will share its “Top Picks” with all; gear up for a “Call of Duty” battle royale coming soon

Monday, September 10

Cedars-Sinai Awarded $12 Million to Study Deadly Lung Diseases

Cedars-Sinai Medical Center has received a federal award of $12 million to study two deadly lung diseases, the hospital announced Sept. 10.

Private Investor Pays $23M for Two-Story Commercial Space in Pasadena

Aegon USA Realty Advisors, a Cedar Rapids, Iowa-based limited liability company, has sold the two-story, 39,000-square-foot Walgreens building at 310 S. Lake Ave. in Pasadena for $23 million, or about $585 per square foot, with a 4.9 percent cap rate, to a private investor in Beverly Hills.

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Silicon Beach Report Sept. 10: Air Force Investigating Musk

Musk’s pot podcast draws Air Force scrutiny; WorldStar joins Snapchat’s story platform; Momentum IoT raises $3.1M

Momentum IoT Lands $3.1 Million

Long Beach-based mixed fleet management software developer Momentum IoT announced Sept. 10 it raised $3.1 million.

Shamrock Leads $30M Investment in AI-Generated Sports Content

Westwood-based investment firm Shamrock Capital announced Sept. 10 that its led a $30 million investment round on behalf of an Israeli company that provides unmanned cameras for sporting events.

Arrowhead Pharma Stock Soars After Hepatitis B Drug Shows Promise

Shares in Arrowhead Pharmaceuticals Inc. rose 40 percent a day after the Pasadena-based biotechnology firm released positive results for a drug treating hepatitis B virus infection.

Top-Read Stories of the Week

Recent Top-Read L.A. Business Journal Stories:

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Sunday, September 9

Moonves Out at CBS, NAI Settlement Reached, $20M ‘MeToo’ Donation Planned

Les Moonves will exit his post as chairman, president and chief executive at CBS Corp, according to a Sept. 9 announcement by the entertainment giant, which also detailed a settlement with the National Amusements Inc. members of the CBS Board and related parties.

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Friday, September 7

Embattled Owner of LA Weekly Behind New O.C. Publication

It appears embattled LA Weekly publisher and part-owner Brian Calle has set his sights on creating a new publication – the Irvine Weekly.

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Contract Negotiations For $1B LAX Car Rental Facility to Proceed

The Los Angeles Board of Airport Commissioners on Sept. 6 green lighted Los Angeles World Airports’ staff to negotiate a contract with a consortium to design, build and operate the $1 billion consolidated car rental facility near Los Angeles International Airport.

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Silicon Beach Report Sept. 7: GumGum Gets Blue Jackets’ Biz

Hello Sunshine Expands Podcast Program; Scooters Granted Passage in Los Angeles; GumGum Signs Blue Jackets

Canter’s Scion Raises $9.5M for Delivery Software Firm

A member of the fourth-generation of the family that owns Canter’s Deli has raised $9.5 million in a series A round for a software system that was developed to manage to-go orders and deliveries at the famous Fairfax district eatery and now is marketed to other restaurants.

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Reports: Moonves, CBS Board Negotiating Exit Plan

Les Moonves, the chief executive of CBS Corp., is making moves to exit the entertainment giant, according to reports, which say the longtime executive is in negotiations with the board of directors over plans to leave the company.

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L.A. City Council Approves Rules for Electric Scooter Pilot Program

The Los Angeles City Council on Tuesday approved a one-year pilot program to regulate dockless electric scooters.

Word to Wise on Managing Toxic Employees

Commentary

Toxic employees – people in the workplace with extremely difficult personalities – are quite prevalent.

Accounting for Teachers

Commentary

Anyone who doubts the importance of putting the Los Angeles Unified School District’s fiscal house in order should check our coverage of higher education this week.

STYLE | Personal Professional

Blair Lawson • Goop Inc.

Elegant, casual Goop

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Local Hotel Room Rates Up, Beat National Rise

Rates up 3.1 percent this year; 2.7 percent increase expected next year

L.A. County’s burgeoning hotel industry beats national trends.

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Soon-Shiong’s Other Media Deal: Sale of Tronc

Stake in prior owner of Times gives him leverage as negotiations heat up

Patrick Soon-Shiong is in the thick of another blockbuster media buy

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Budget Beauty Bar Draws Outside Investment

Face Haus adds locations in Santa Monica, USC Village, Manhattan Beach

West Hollywood-based Face Haus, a beauty bar whose slogan is “facials for the people,” opened its fourth location late last month and has plans for another already in the works.

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Deals & Dealmakers: WndrCo’s Privacy Play

Katzenberg-led outfit invests $295M into digital security outfit AnchorFree

WndrCo leads $295 million investment into AnchorFree Inc.

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Clean and Green

L.A. scores high marks in latest survey on cleantech adoption, productivity rates

How L.A. County fares in the clean energy and cleantech industries.

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Carson Kia Buy Spurs Growth

Glendale’s Trophy Automotive plans to expand regional reach

Purchase of Carson Kia first in Trophy Automotive Dealer Group’s expansion plans.

PAGE 3: Segal’s U.K. Connection; Lagana’s Side Hustle

It takes a village to get a grip on fashion these days,

Demand Up for M.S. Degrees

EDUCATION: Business schools respond to market

How M.B.A.s have spawned a new batch of business-focused M.S. programs.

Fighting Suicide With Software

TECHNOLOGY: Liminex part of growing ed-tech sector

Adolescent suicides – and preventing them –is in the crosshairs of a software firm.

County Backs New Bioscience Hub

HEALTH CARE: Perception boost part of mission

L.A. County backs a new public/private life sciences agency to attract investment.

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Is Live Nation Legal?

Live music outfit prompts cries of antitrust from competitors, congressmen

Antitrust allegations show no hint of stalling Live Nation’s growth ambitions.

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Wells Fargo Building in BH Goes for $193M

Price on 12-story office comes to $930 PSF

Beverly Hills-based real estate investment firm StarPoint Properties has purchased the 12-story, 207,000-square-foot office tower at 443 N. Camden Drive.

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Pepperdine, AEG Join on Classroom

Staples Center to house sports, entertainment business school classes

Pepperdine University’s partnership with Staples Center owner AEG puts new entertainment, sports and media management courses in the center of the action.

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Thursday, September 6

Soon-Shiong’s NantWorks Invests in Daybreak Games

Also planned: e-sports arena, leagues

Culver City-based NantWorks, a diversified holding company run by Patrick Soon-Shiong, announced Sept. 6 it invested an undisclosed sum into Daybreak Game Co., creating through the investment a joint venture titled NantG Mobile.

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Ares Management Buys Assets of Texas Oil and Gas Company

Century City private equity firm Ares Management announced Sept. 6 that its power and infrastructure fund Ares EIF has closed on the acquisition of the assets of Irving, Texas-based oil and gas company Paradigm Energy Partners from an affiliate of Stonepeak Infrastructure Partners of New York.

Cedars-Sinai Joins Forces With Synthetic Biologics to Develop IBS Drug

Cedars-Sinai Medical Center has entered into an agreement with Synthetic Biologics Inc. to conduct a clinical study of a drug to treat irritable bowel syndrome.

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Silicon Beach Report Sept. 6: Snap Stock Plummets Again

Snap's stock sinks below $10; DDN acquires Tintri at auction; Pipeliner introduces cloud CRM software.

Nexon America Moving HQ in El Segundo

Video game publisher Nexon America is moving its North American headquarters to the two-story, 49,000-square-foot office building at 621 Hawaii St. in El Segundo after signing a 9-year lease.

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Prologis Picks Up 31.2 Acres in Torrance

Prologis Inc., a San Francisco-based real estate investment trust specializing in industrial properties, has purchased 31.2 acres of land – roughly 1.4 million square feet – at the northeast corner of Del Amo Boulevard and Prairie Avenue in Torrance from PBF Energy of Parsippany, N.J., for $49.3 million, according to CoStar Group Inc.

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Top-Read Stories of the Week

Recent top-read L.A. Business Journal stories.

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Wednesday, September 5

Katzenberg’s WnderCo Invests in Mobile Privacy Outfit

Jeffrey Katzenberg’s latest investment is a digital and mobile privacy security company.

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Silicon Beach Report Sept. 5: Headspace Acquires Alpine.AI

Meditation app Headspace acquires artificial intelligence conversation developer; geolocation data company Factual raises $42 million; Netflix hires former Disney executive as head of global products

Factual Inc. Funding Climbs to $104 Million

Century City-based geolocation data provider Factual Inc. announced Sept. 5 it raised $42 million in a financing round featuring participation from Upfront Ventures and Felicis Ventures.

UCLA Mattel Children’s Hospital Ranked Among Most Innovative

UCLA Mattel Children’s Hospital has been named among the most innovate children’s hospitals in the nation by Parents magazine.

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AeroVironment Reports Profit Following Divestment in EV Charger Business

AeroVironment Inc. beat Wall Street estimates on earnings and revenue for the fiscal first quarter.

Former Amgen Execs Launch $320M Life Science Venture Fund

Westlake Village BioPartners has launched its first $320 million venture fund to invest in life science and biotech companies.

Santa Monica-Based Headspace Acquires Alpine.AI

Santa Monica-based Headspace Inc., a developer of a meditation app used by millions, has acquired Alpine Inc., a developer of artificial intelligence conversation platforms based in San Francisco.

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Tuesday, September 4

MannKind Shares Surge on News of Research Deal

Shares of MannKind Corp. jumped nearly 90 percent Sept. 4 after the Westlake Village biotech announced an agreement with United Therapeutics Corp. to develop an inhalable drug to treat a form of hypertension.

Cadiz Shares Jump as Bill to Slow its Desert Water Project Dies in Legislature

Shares of Los Angeles water project developer Cadiz Inc. shot up 19 percent on Sept. 4 after a bill to slow its desert water project died in the Legislature during the final hours of the session on Aug. 31.

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WeHo Private Equity Firm Invests in Baja California Green Energy Company

Everlert Inc., a West Hollywood private equity firm, announced Sept. 4 that it has taken a 40 percent stake in Baja Green Energy S.A., a Mexican developer of renewable energy generation and storage projects.

Silicon Beach Report Sept. 4: Shamrock Capital Sells RBMedia

Shamrock sells RBMedia sold to KKR; new rules for Netflix and other streamers in the E.U.; “Lord of the Rings” video game in production

StarPoint Properties Buys 12-Story Office Tower in Beverly Hills for $193M

StarPoint Properties, a Beverly Hills-based real estate investment firm, has purchased the 12-story, 207,000-square-foot office tower at 433 N. Camden Drive – the tallest such tower in Beverly Hills – for $193 million, or around $930 per square foot, from Camden Properties Ltd.

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CUSTOM CONTENT: How Los Angeles-Based Investments Can Cut Your Capital Gains Tax

Trusted Advisors

The tax reform act commonly known as the Tax Cuts and Jobs Act (TCJA) created the Qualified Opportunity Zone (QOZ) program, a unique tax incentive program for investments in designated low-income communities.