Stories for March 2019

Sunday, March 31

Private Equity Firms Ares, Crescent Buy Savers Thrift-Store Chain

Private equity firms Ares Management Corp. and Crescent Capital Group have replaced previous private equity sponsors involved in the restructuring of Bellevue, Wash.-based Savers, the biggest for-profit thrift-store chain in the United States.

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L.A. Care Awards $2.2M in Grants to Health Care Clinics to Recruit Doctors

L.A. Care Health Plan, a publicly operated insurance agency based in Westlake, announced March 29 it awarded $2.2 million in grants to local health care clinics to recruit needed primary care physicians.

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Friday, March 29

Gaming Publishers Cut Staff

MEDIA: As video game industry automates, revenue is up, jobs going away

Video game publishers are trimming their ranks.

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SRO Housing Planning 121-Unit Affordable Housing Complex in Westlake

Downtown-based nonprofit SRO Housing Corp. filed plans with the city March 28 for a seven-story complex with 121 units in Westlake.

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Silicon Beach Report March 29: MGM’s Epix Coming to Amazon

Falcon launch, landing video released; Sinemia announces new subscription; Epix to join Apple, Amazon, Roku.

Schaefer Shutters, Says Health Law to Blame

Health Care: Ambulance service will close this month amid economic change

Schaefer Ambulance closing after 87 years.

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Wonderful Prioritizes Renewable Power Push

Special Report: Environmental Business

Agriculture company aims for all clean power by 2025

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LABJ Names Robson Editor

MEDIA: Veteran journalist tapped to lead newsroom

Change in leadership at Business Journal.

Anastasia to Sell Beauty Products on Instagram

Beverly Hills brand among first to use in-app checkout for purchases

Anastasia fans can shop on Instagram.

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Healthvana Teams with UrSure on HIV Program

Firms reach mutual referral agreement, will expand Healthvana’s user base

Healthvana teams up with UrSure on HIV drug.

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PE Influence Molds Agencies

ENTERTAINMENT: WGA dispute sheds light on model

Unions take issue with agencies’ new direction.

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WeWork Accelerates LA County Expansion

Co-working giant signs NoHo, downtown leases as part of local growth plan

WeWork grows Los Angeles footprint.

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Green Economy Part of California’s Pedigree

California’s leadership on environmental issues is not new — the state has been at the forefront of the fight to combat climate change for decades.

GREENER PASTURES

Special Report: Environmental Business

The natural world and the business world can often seem to be in conflict. But for some L.A. companies, there’s a natural crossover

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Emissions Reduction Efforts Target Warehouses

Southern California remains unable to meet federal requirements for clean air and is designated “extreme nonattainment”

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Fledgling VC Outfit Takes Flight

FINANCE: Unicorn Venture Partners to seed local tech

Unicorn focused on L.A. startup scene.

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Broker Bonding

Hot listings drive agents to share residential sale credit

Co-listing common trend in L.A. real estate.

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CHANGE AGENT

Natalie Tran • CAA Foundation

Sharing the wealth

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GOOD BUSINESS

Companies turn toward sustainability and transparency

Companies strive for B Corp. certification.

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Ares Bets Big on HVAC Provider Growth

CoolSys Inc. plans to use private equity firm’s cash to triple revenue to $1.1 billion

CoolSys looks to heat up with Ares funding.

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Plastic Rules Could Upend Food Service, Retail

Special Report: Environmental Business

Many companies, cities trying to get ahead of new regulations

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Thursday, March 28

Culver City-Based NantHealth Reports $49M Loss in Q4, $191M for the Year

NantHealth Inc., a biomedical diagnostic company based in Culver City, on March 28 announced a fourth quarter loss of $49 million, while year-over-year revenue rose 3 percent.

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Sony Sells Controlling Stake in Crackle

Sony Pictures Television sold its majority share of venerable streaming service Crackle Inc. to Chicken Soup for the Soul Entertainment Inc., according to a March 28 announcement.

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Silicon Beach Report March 28: Toth Leaving CAA for Quibi

Toth exits CAA for Quibi; Crackle sold by Sony; Entertainment Partners sold to TPG Capital.

Beverly Grove Catholic Church Planning 19-Story Residential Tower

Our Lady of Mt. Lebanon has filed plans for a 19-story, 153-unit residential tower in Beverly Grove, the Maronite Catholic church announced March 28.

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Wednesday, March 27

LAX Passenger Traffic Edged Up in February, Shows Slight Gain Year-to-Date

February passenger traffic at Los Angeles International Airport eked out a slight gain of 22,000, or 0.4 percent, from January to reach 6.07 million and is up 0.8 percent on the year to 12.83 million, according to figures released by the airport’s governing authority on March 27.

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Silicon Beach Report March 27: Kunlun Considers Selling Grindr

Science Inc. supports Linear Labs; Trellis completes $2 million seed round; Grindr privacy practices concern parent company .

Gemalto Cogent Signs $14M Lease in Pasadena

Biometrics firm Gemalto Cogent Inc. has signed a $14 million lease at an office building in Pasadena, CBRE Group Inc. announced March 27.

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DTLA’s Central City Association Adds Board Members

The Central City Association, downtown’s main business group, announced on March 27 the addition of six members to its board of directors.

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Containing the Escalating Costs of Prescription Drug Benefits: Why Self-Funded Plans May Be an Attractive Alternative for Employers

Custom Content by the Los Angeles Business Journal

Why Self-Funded Plans May Be an Attractive Alternative for Employers

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Investing in Primary Prevention is Key to Addressing Child Abuse

Custom Content by the Los Angeles Business Journal

Across the nation a report of child abuse is made every 10 seconds…in the State of California a report is made every minute. In the United States, five children die every day from abuse and neglect.

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Epson Moves HQ

Epson America Inc. will leave its Long Beach corporate headquarters in the summer of 2020, moving a few miles down the road to a larger site in Los Alamitos.

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Global Icons Takes Majority Stake in Fred Segal

Sawtelle-based brand licensing agency Global Icons acquired Fred Segal, the iconic Los Angeles lifestyle luxury retailer from Evolution Media, which will maintain a minority stake in the company.

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Meetings & Events Guide (March 25): L.A. Grand Hotel Downtown: A Serene Retreat

Custom Content by the Los Angeles Business Journal

When you stay at the L.A. Grand Hotel Downtown, you will find that while you are at the heart of the cultural

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Meetings & Events Guide (March 25): 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 (March 25): Westin Bonaventure Hotel & Suites: A Legendary Venue

Custom Content by the Los Angeles Business Journal

Set in the heart of downtown, The Westin Bonaventure Hotel & Suites, Los Angeles radiates an elegance that has attracted U.S. Presidents, dignitaries and stars of television and film.

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Meetings & Events Guide (March 25): Find Your Vibe on the Ventura County Coast

Custom Content by the Los Angeles Business Journal

Find the meeting or conference space your team has been searching for.

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Who's Building L.A. (March 25): Construction Industry Employment and Pay Levels Rose in 2018

Custom Content by the Los Angeles Business Journal

Industry’s Job and Pay Gains Outpace Overall Economy; Association Survey Finds Contractors Plan To Add Workers, Invest in Training and Technology in 2019 but Expect Difficulty in Filling Positions

Tuesday, March 26

TPG Capital Buys Payroll Processor Entertainment Partners

TPG Capital continued its expansion into Hollywood, announcing in a March 26 press release that it acquired Entertainment Partners, a Burbank-headquartered payroll processing company that calls itself, “the global leader in entertainment payroll.”

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Wag Lays off 38, Closes Hollywood Hills Office

Wag Labs Inc., developers of a mobile application that pairs pet owners with dog walkers, laid off 38 employees and closed its Hollywood Hills office effective March 9.

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Who's Building L.A. (March 25): The Office Property and Big Data Puzzle - Putting the Pieces Together

Custom Content by the Los Angeles Business Journal

A new white paper published by the NAIOP Research Foundation offers insight into the usages and challenges of big data in commercial real estate, particularly in the office sector where the data’s usefulness can be used to both improve a building’s operational efficiencies and attract and retain tenants.

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Fashion Rental Site FashionPass Files Suit Against Rent the Runway

FashionPass is alleging competitor Rent the Runway pressured more than a dozen mostly Los Angeles-based fashion lines into an exclusive relationship in an effort to drive the smaller subscription clothing company out of business, according to a lawsuit filed in Los Angeles Superior Court Tuesday.

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NantKWest Raises $39 Million From Company Founder Patrick Soon-Shiong

NantKwest Inc., a biotechnology company launched by Los Angeles businessman Patrick Soon-Shiong, raised $39 million in a private placement by its chairman and chief executive to advance a natural killer cell treatment for cancer.

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Who's Building L.A. (March 25): Shared Success Since 1919

Custom Content by the Los Angeles Business Journal

For 100 years, Rosendin has created a reputation for building quality electrical and communications installations, building value for clients, and building people.

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Silicon Beach Report March 26: 125,000 More SF for ServiceTitan

ServiceTitan expands in Glendale; Fairway Technologies acquires IT Strategies; Tinder co-founder requests lawsuit dismissal.

Who's Building L.A. (March 25): Dekkadance & Sora - Los Angeles

Custom Content by the Los Angeles Business Journal

Dekkadance, an urban bistro marketplace, and Sora, a modern sushi bar, offer guests casual dining sixty-nine stories in the air.

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Who's Building L.A. (March 25): Downtown Santa Monica Hotels - Santa Monica

Custom Content by the Los Angeles Business Journal

This unique site developed by OTO Development, with Lusardi Construction as the contractor and Gwynne Pugh Urban Studio, Inc.

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ServiceTitan Expands HQ in Glendale

Glendale-based ServiceTitan Inc. has leased 125,000 square feet in Glendale, building owner Beacon Capital Partners announced March 26. Terms of the lease were not disclosed.

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AECOM Awarded NASA Environmental Contract Worth Up to $300M

Century City-based engineering and infrastructure firm AECOM has been awarded a five-year contract of up to $300 million to provide environmental cleanup services for NASA, the company announced March 26.

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Who's Building L.A. (March 25): Westfield Century City - Los Angeles

Custom Content by the Los Angeles Business Journal

Westfield’s goal was to update its flagship property, first opened in 1964, to create a truly memorable experience and compete with online retailers.

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IT Strategists Acquired by Fairway Technologies

West Los Angeles-based data analytics firm IT Strategists Inc. was acquired by San Diego-headquartered tech consultancy Fairway Technologies March 26.

Wheels E-Bikes Hit LA Streets

Two months after finalizing a $37 million seed round, West Hollywood-based shared electric bike operator Wheels launched 10,000 vehicles across six neighborhoods in LA County.

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Diversity and Inclusion: Three Key Actions to Tackle Unconscious Bias

Custom Content by the Los Angeles Business Journal

Late last year, CEO Action for Diversity & Inclusion, the largest CEO-driven coalition to advance diversity and inclusion within the workplace, announced three key actions at its second annual CEO Closed-Door Session.

Diversity and Inclusion: Diverse Paths to Inclusive Success

Custom Content by the Los Angeles Business Journal

USC Marshall is proud of our efforts to foster a diverse, inclusive and equitable learning community.

Diversity and Inclusion: Innovation’s Secret Weapon - A Diverse Workplace

Custom Content by the Los Angeles Business Journal

When a business has more women in leadership positions, or significant numbers of diverse decision makers, it will generate more profits and out perform competitors.

Diversity and Inclusion: Diversity Isn’t Enough - Why Inclusion Must be an Equal Priority

Custom Content by the Los Angeles Business Journal

Workplace diversity is certainly not a new concern for businesses, but it is one that continues to hover near the top of many organizations’ agendas.

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Diversity and Inclusion: Disability Inclusion Is Just Good Business

Custom Content by the Los Angeles Business Journal

Jasmine has a lot on her calendar. She’s worked at AAh’s, a popular gift shop, in the shipping department since 2017.

Wonderful Co. Commits to 100 Percent Renewable Energy for Vast U.S. Farming Operations by 2025

West Los Angeles-based agriculture giant Wonderful Co. announced March 26 that it plans to use 100 percent renewable energy for all of its farming and food operations in the U.S. by 2025.

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Monday, March 25

Tripalink Raises $5 Million for Co-Living Expansion

Real estate developer Tripalink Corp., which builds and leases dormitory-style housing, has raised $5 million to upgrade its properties and expand into new markets.

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Silicon Beach Report March 25: Evelozcity Rebrands to Canoo

Evelozcity becomes Canoo; Faraday and The9 create joint venture; Xprize Foundation prioritizes forest conservation.

Faraday Future Creates Joint Venture to Sell Cars in China

Faraday & Future Inc. entered into a joint venture with Chinese game developer The9 Ltd. March 24.

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FINDING FORESIGHT

Banking and Finance Quarterly

The special Banking and Finance Quarterly report looks at the rise in nonperforming loans — often dubbed troubled assets — at some prominent local banks.

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Grocery-Anchored Shopping Complex in South Gate Sold for $29.5 Million

Safco Capital Corp. has acquired a fully-occupied retail complex in South Gate, anchored by an Aldi discount supermarket, for $29.5 million from Catellus Development Corp. of Oakland.

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Friday, March 22

Silicon Beach Report March 22: Spark Networks Acquires Zoosk for $255 Million

Inside Netflix’s Streaming Technology; SpaceX Begins Broadcast of Starship Tests; Zoosk Sold to Spark Networks

Unemployment Down in L.A. County as Jobs Grow, Workforce Shrinks

Unemployment in L.A. County ticked down slightly in February to 4.6 percent, the combined effect of a modest gain in jobs and a few thousand workers leaving the labor force.

Culver City-based MedMen Enterprises Lands $250 Million

Culver City-based MedMen Enterprises Inc. announced March 22 a $250 million investment from marijuana industry investor Gotham Green Partners.

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SECONDHAND, FIRST PRIORITY

Shilla Kim-Parker I Thrilling Inc.

Second-hand style

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Lime Doubles Down on Los Angeles Scooters

Neutron Holdings first scooter company to receive city permit to expand fleet

Lime e-scooter fleet branches out with city’s approval.

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Parsons Plans for Public Offering After HQ Move

Engineering and defense contractor shifts strategy ahead of IPO

After news of HQ move, Parsons prepares to go public.

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Fund Launches to Target Next-Gen Internet Tech

55 Catalyst Capital to be led by BCG Ventures founder Jeff Schumacher

Jeff Schumacher turns to next generation startups with 55 Catalyst Capital.

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CARE CRUNCH

Health Worker Shortage Crimps LA Providers

L.A.’s health care worker shortage puts squeeze on treatment centers.

Solar Surge Shifts Rates

ENERGY: Edison’s business customers to see bills change

Hundreds of thousands of Southern California Edison’s business customers will see their bills change in coming weeks and months, thanks to two major rate alteration programs.

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Financial Considerations Begin to Mount for LA

The banking and finance industry has found itself tossed about recently as shifting monetary policy has sown confusion in a sector that values stability above all else.

GOING LONG

A tide of new development rises in Long Beach

Real estate developers are plunging into the waterfront city of Long Beach where speedier approvals, strong demand and lack of rent control have opened the flood gates to residential and commercial projects.

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Gaming Enters New Arena

TECH: E-sports spaces add revenue for game developers

The Los Angeles video game industry is going live.

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Madera Tries New Model

FOOD: Fast-casual pivot is social media-friendly

Former nightclub owners Tosh Berman and Amrou Manaseer know just how to curate a scene

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Otter Caught in Reshuffle

ENTERTAINMENT: Role uncertain amid AT&T deal

AT&T Inc.’s plunge into entertainment will remold many businesses in its orbit

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RISE IN RISK?

Some local banks see troubled assets grow as interest rates tick up, economy softens

The banking sector tends to be among the first to spot signs of shifting economic winds, and as 2018 drew to a close, many players in the industry started to feel a breeze.

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Goodwin Procter Steps onto Silicon Beach

Boston-based law firm signs Santa Monica office lease for 20-lawyer outpost

Goodwin Procter to open tech-focused office in Silicon Beach.

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Thursday, March 21

Downtown-Based Flexogenix Files for Chapter 11 Bankruptcy

Flexogenix Group Inc., a Los Angeles-based company that operates joint care clinics in a half dozen U.S. cities, has filed for Chapter 11 bankruptcy.

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Songtradr Announces $12 Million Funding Round

West Hollywood-headquartered company Songtradr Inc. announced March 21 it raised $12 million, which the company said totaled its outside funding to $21.5 million.

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Ares Management to Provide Financial Muscle for CoolSys Growth Strategy

Century City-based Ares Management Corp., which has $131 billion in assets under management, said one of its private equity group funds has purchased Brea, Calif.-based CoolSys Inc., a refrigeration and HVAC company, as part of an aggressive “buy and build” strategy to nearly triple the size of the company.

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Silicon Beach Report March 21: Faraday Future Sells Gardena Headquarters

Boost AI enters Santa Monica market; Atlas Capital buys Faraday HQ; Ingersoll joins TenOneTen ventures.

Faraday Future Sells Gardena Headquarters

Electric vehicle developer Faraday & Future Inc. sold its Gardena headquarters in the latest attempt by the distressed firm to make up for lost funds.

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WeWork Announces Two New Locations

Co-working giant WeWork Companies Inc. has announced new locations in North Hollywood and the Arts District.

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Clearlake Capital-Backed Gravity Oilfield Buys Water Disposal Company Assets

Gravity Oilfield Services, backed financially by Santa Monica-based private equity Clearlake Capital, purchased certain water disposal pipes and related equipment from MBI Oil & Gas.

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Wednesday, March 20

Silicon Beach Report March 20: Phillips & Temro Acquires Evocharge

Disney Gains majority stake in Hulu; Evocharge acquired; Peerstreet offers new online loans

City of Hope Awarded $7.5 Million to Develop Therapies for Rare Blood Cancer

City of Hope National Medical Center received $7.5 million in federal and private grants to study a rare blood cancer that affects the skin.

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Disney Completes $71 Billion Fox Acquisition

Walt Disney Co. on Wednesday closed on its $71.3 billion acquisition of the media assets of 21st Century Fox.

Evocharge Acquired by Phillips & Temro

Electric vehicle charging equipment manufacturer Evocharge Inc., based in Downtown, was acquired March 20 by heavy equipment control developer Phillips & Temro Industries Inc.

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Thousands of UCLA Workers Join Statewide Strike Over Wages, Benefits and Income Gap

Democratic presidential candidate Bernie Sanders was expected to appear at UCLA on Thursday in sympathy for a statewide strike by thousands of research, technical and health care workers.

USC Names Carol Folt First Woman President

USC’s board of trustees on March 20 unanimously named Carol Folt, former chancellor of University of North Carolina, Chapel Hill, as its first woman president.

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Tuesday, March 19

Hudson Pacific Adds CAA Agent, Latina Founder Haubegger to Board

Brentwood-based Hudson Pacific Properties, Inc. named Christy Haubegger to the company’s Board of Directors.

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Silicon Beach Report March 19: Backstage Capital Backtracks

SpaceX considers Starship launch test; Backstage Capital fails to raise fund; Gravitas Ventures offers streaming service.

Sunset Formosa Apartment Complex Sells for $12.4M

The Sunset Formosa, a 36-unit apartment in Hollywood, sold for $12.4 million, Stepp Commercial announced March 19.

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2019 Auto Guide: 2019 Audi A7 Receives “Best Resale Value” Award

Custom Content by the Los Angeles Business Journal

The 2019 Audi A7 received the 2019 Kelley Blue Book Best Resale Value Award in the Luxury Car category, as announced at this year’s National Automobile Dealers Association (NADA) Convention.

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2019 Auto Guide: California’s New Privacy Law - Start Preparing Now

Custom Content by the Los Angeles Business Journal

In June of 2018, on the last day to qualify ballot measures for the 2018 ballot, California adopted AB 375, the strongest privacy law in the nation.

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Most Influential Marketers: RPA

Custom Content by the Los Angeles Business Journal

Cancer is scary for anyone, but for a child it’s even scarier. Unfortunately, there are limited resources that explain cancer care in a way kids can relate to.

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Most Influential Marketers: THE MARKETING MASTERS

Custom Content by the Los Angeles Business Journal

The Marketing Masters, founded by Brendan Egan and John Shegerian, is a boutique digital marketing agency obsessed with results.

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Most Influential Marketers: ELEVATE MY BRAND

Custom Content by the Los Angeles Business Journal

The team at Elevate My Brand (EMB) exercises a unique offline and online marketing methodology that provides innovative, creative solutions for new, emerging brands and well-established companies.

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Most Influential Marketers: DEUTSCH

Custom Content by the Los Angeles Business Journal

Deutsch is an advertising, design and digital agency known for its award-winning creative campaigns for clients including Taco Bell, Volkswagen, Dr. Pepper, H&R Block, Target and Snapple, to name a few.

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Most Influential Marketers: Jim Yeager

Custom Content by the Los Angeles Business Journal

Jim Yeager, founder and president of the boutique public relations and marketing firm breakwhitelight

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Most Influential Marketers: Mark Weinfeld

Custom Content by the Los Angeles Business Journal

Mark Weinfeld is a seasoned and highly respected marketer who is currently chief strategy officer at Amusement Park

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Most Influential Marketers: Randy Rovegno

Custom Content by the Los Angeles Business Journal

Randy Rovegno is an innovative and creative sports and entertainment marketing executive who has produced hundreds of campaigns for brands including ESPN, NFL, FOX, ABC, POP, DIRECTV, Disney, Verizon, YouTube, among many others.

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Most Influential Marketers: Brandon Rochon

Custom Content by the Los Angeles Business Journal

Brandon Rochon is one of the world’s youngest and freshest advertising trailblazers.

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Most Influential Marketers: Lara Richardson

Custom Content by the Los Angeles Business Journal

Leading marketing efforts for Discovery and Science Channels, Lara Richardson inspires a team of marketing creatives, strategists and production managers for one of the world’s largest and most beloved brands in media.

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Most Influential Marketers: Andreea Popa

Custom Content by the Los Angeles Business Journal

Andreea Popa serves as Director of Marketing & Communications, heading marketing efforts for Intrepid Investment Bankers.

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Most Influential Marketers: Mari-Anne Kehler

Custom Content by the Los Angeles Business Journal

Mari-Anne Kehler plays an integral role in the strategic direction and vision of Green Hasson Janks (GHJ).

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Most Influential Marketers: Seth Horowitz

Custom Content by the Los Angeles Business Journal

After a decade-long stint as Director of Business Development and Marketing at renowned law business and entertainment law firm Greenberg Glusker

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Most Influential Marketers: Jessica Hawthorne-Castro

Custom Content by the Los Angeles Business Journal

With second-generation leadership at Hawthorne Direct LLC, Jessica Hawthorne-Castro has grown her agency at an unprecedented rate, landing it on the Inc.

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Most Influential Marketers: Kristan Ginther

Custom Content by the Los Angeles Business Journal

Kristan Ginther is a Regional Marketing Director at RSM US LLP with nearly 20 years of marketing experience.

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Most Influential Marketers: Raissa Gerona

Custom Content by the Los Angeles Business Journal

Raissa Gerona is Chief Brand Officer at REVOLVE, the Los Angeles-based, next-generation fashion retailer for millennial consumers.

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Most Influential Marketers: Dean Evans

Custom Content by the Los Angeles Business Journal

Dean Evans is the Chief Marketing Officer for Hyundai Motor America. In this role, he is responsible for all marketing activities for the carmaker in the United States.

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Most Influential Marketers: Jeannine Davis D’Addario

Custom Content by the Los Angeles Business Journal

Jeannine Davis D’Addario serves as Senior Vice-President, Chief Marketing & Communications Officer for Guitar Center, Inc. T

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Most Influential Marketers: Devon Blaine

Custom Content by the Los Angeles Business Journal

The Blaine Group was established by Devon Blaine in Los Angeles in February, 1975.

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Most Influential Marketers: Marc Becker

Custom Content by the Los Angeles Business Journal

Marc Becker served as an executive at Universal Pictures in the global brand marketing team for seven years.

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Most Influential Marketers: Jordan Atlas

Custom Content by the Los Angeles Business Journal.

As EVP/Executive Creative Director of Edelman Los Angeles’ creative, strategy and production offering, Jordan Atlas brings 20+ years of experience, levity and creative ingenuity to the work he creates and the people that help make it happen.

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Monday, March 18

Most Influential Lenders: Banking Relationships from a Small Business Perspective

Custom Content by the Los Angeles Business Journal

It’s always a good time for small business owners to reassess their company’s financial health and their relationship with their bank.

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Most Influential Lenders: Brent Williams

Custom Content by the Los Angeles Business Journal

Brent Williams is regional manager of City National Bank’s Los Angeles Commercial Banking division.

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Most Influential Lenders: Vicky Schiff

Custom Content by the Los Angeles Business Journal

Vicky Schiff is the Co-Founder and Managing Partner of MREC Management, LLC.

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Most Influential Lenders: Paul Rahimian

Custom Content by the Los Angeles Business Journal

Paul Rahimian currently manages a debt fund that provides construction financing to ground up real estate development projects throughout the Western United States.

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Most Influential Lenders: Ethan Penner

Custom Content by the Los Angeles Business Journal

Ethan Penner is the Founder and Managing Partner of MREC Management, LLC.

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Silicon Beach Report March 18: Lime Expanding LA Footprint

Fisker announces new electric vehicle; Lime expands in L.A.; SpaceX tests Starship heat shields

Most Influential Lenders: David Macdonald

Custom Content by the Los Angeles Business Journal

David Macdonald is responsible for Woodforest National Bank’s Commercial Banking team covering the West Coast Region, based in downtown Los Angeles.

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Most Influential Lenders: Larry Grantham

Custom Content by the Los Angeles Business Journal

Larry Grantham is Calmwater Capital’s Co-Founder, Senior Portfolio Manager and a member of its Investment Committee.

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Most Influential Lenders: Tony Garcia III

Custom Content by the Los Angeles Business Journal

Tony Garcia III serves as the Market Manager for Wells Fargo, and has been with Wells Fargo Home Lending since 2004.

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Most Influential Lenders: Jeff Forsythe

Custom Content by the Los Angeles Business Journal

Jeff Forsythe has over 30 years of real estate and construction lending experience on transactions covering a wide variety of product types and sizes.

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Most Influential Lenders: Stephen Flynn

Custom Content by the Los Angeles Business Journal

Stephen Flynn is the City President in Commercial Banking for BBVA Compass, the US bank that is part of the BBVA Group located in Spain.

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Most Influential Lenders: Brandon J.E. Ferrera

Custom Content by the Los Angeles Business Journal

Brandon J.E. Ferrera is an established Middle Market Banker who joined Fifth Third Bank in early 2018.

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Most Influential Lenders: Adam Feit

Custom Content by the Los Angeles Business Journal

Adam Feit serves as Managing Director and Market President for MUFG Union Bank’s Los Angeles Region.

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Most Influential Lenders: Keith Drake

Custom Content by the Los Angeles Business Journal

Keith Drake is senior vice president, regional manager, for Torrey Pines Bank, where he leads the downtown Los Angeles market sales and operations team.

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Most Influential Lenders: Natalie Do

Custom Content by the Los Angeles Business Journal

Natalie Do is one of the original members in the Beverly Hills office of Torrey Pines Bank, where she played a critical role in expanding the bank into the West Los Angeles market in 2012.

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Most Influential Lenders: Jacky Dilfer

Custom Content by the Los Angeles Business Journal

Jacky Dilfer is a commercial lending and SBA real estate lending expert – and she’s a dedicated leader and trusted advisor

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Most Influential Lenders: Scott Connella

Custom Content by the Los Angeles Business Journal

Scott Connella serves as Managing Director and Market President for the MUFG Union Bank Commercial Banking Group, Southern California Division.

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Most Influential Lenders: David Cameron

Custom Content by the Los Angeles Business Journal

David Cameron is a senior vice president and head of business banking with City National Bank’s Personal and Business Banking division.

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Most Influential Lenders: Rick Arvielo

Custom Content by the Los Angeles Business Journal

Rick Arvielo is a self-taught entrepreneur with a passion for marketing who founded his third business, New American Funding in 2003.

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Most Influential Lenders: Patty Arvielo

Custom Content by the Los Angeles Business Journal

Patty Arvielo started her career from scratch, reaching out of her immediate circle and comfort zone to break into a business when she had no previous experience.

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Lime Adding 2,500 More Scooters to LA Streets

Dockless e-scooter operator Neutron Holdings Inc., doing business as Lime, announced March 18 it received a permit from the City of Los Angeles to operate 2,500 scooters in the City in addition to its existing fleet of 3,000.

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Most Influential Lenders: James Arom

Custom Content by the Los Angeles Business Journal

James Arom is an Income Property Loan Officer at Luther Burbank Savings.

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$71.6M for Westlake Apartment Complex

The Roberts Companies has purchased the Lennox Apartments in Westlake for $71.6 million, records show. The company did not immediately return requests for comment.

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Pragma Teams Up With Mayo Clinic to Produce Medical Videos

Pragma Inc., a health tech company based in Koreatown that offers a library of on-demand medical lectures and surgical videos, on March 18 announced a partnership with the Mayo Clinic of Minnesota.

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Friday, March 15

Multifamily Building in Hollywood Sells for $17.7M

South L.A.-based DavHan Inc. purchased a 28-unit multifamily building in Hollywood for $17.7 million, records show. The company did not immediately return requests for comment.

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INNOVATIVE ADVISERS

LAW FIRMS SPECIAL REPORT

The Los Angeles legal community is a prestigious one, long home to some of the world’s most accomplished law firms and lawyers. That history doesn’t translate into complacency, however. The region’s attorneys are an enterprising group, constantly looking for an entrepreneurial angle to expand their practices.

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Silicon Beach Report March 15: Snapchat Plans Gaming Platform

Bird lays off 5 percent of workforce; LA attracting talent with commerce; Snap considers in-app gaming

Import Volume Down 10 Percent at Ports in Post-Holiday Slump

Cargo volumes sunk at the San Pedro Bay ports in February with imported goods sliding 10.2 percent compared to the same time last year.

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West Hollywood Retail Property Purchased for $25.25M

Safco Capital Corp. purchased a retail lot with a Gelson’s Market in West Hollywood for $25.25 million, Crosbie Gliner Schiffman Southard & Swanson announced March 15.

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Bank of America to Hire 300 Bankers in Los Angeles Region

Bank of America of the Greater Los Angeles Region plans to hire as many 300 bankers across all of its business lines over the next three years, according to the bank’s top executive in the region.

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Speakeasy Spaces

Workplace amenities shift away from foosball tables, toward cocktail lounges

Los Angeles has long been infatuated with the retro cool and exclusivity of hidden bars and speakeasies

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Crescent Launches $250M Blank Check Co.

Shares sold at $10 for new venture; will rely on firm’s dealmaking chops

West Los Angeles-based Crescent Acquisition Corp., a blank check company formed by alternative asset manager Crescent Capital Group with more than $24 billion in assets under management, raised $250 million by offering 25 million units at a price of $10 each.

ScaleLA Adds to Bioscience Incubator Scene

15,000-square-foot location offers no labs or equipment; 30 firms signed up so far

A new work space operated by ScaleLA Inc. — known as the 10th Floor — opened earlier this year as a 15,000-square-foot incubator for digital health and medical device startups.

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Fast-Casual Chain Expands, Reaches Out

Hilltop Coffee and Kitchen adds locations in under- served LA neighborhoods

Hilltop Coffee and Kitchen is adding two locations in Inglewood and Eagle Rock

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Robhana Refinances Downtown Portfolio

$38 million loan package covers medical and office buildings, parking structure

Adowntown portfolio comprised of three properties received a $38 million refinance loan, the latest projects in the county to refinance in recent months.

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Opportunities Don’t Lead to Deals

Investors tentative about distressed-zone tax incentive

A federal tax incentive aimed at boosting development in economically distressed communities is driving up phone call volume for many tax lawyers in Southern California.

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Law Firms Find Fit with Venture Capital Funds

VC spinoffs seen as marketing, business development tool

Several law firms in Los Angeles have created venture capital outfits that invest in early stage startups and offer legal advice in exchange for equity stakes in the companies.

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Los Angeles Can Lead Nation in Health Care AI

Like the nascent film industry in the 1920s and aerospace in the post-war era, Los Angeles could play a major role as a hub for health care artificial intelligence innovation.

SquadUp Shoots for High End

EVENTS: Ticketing firm touts nimbler tech, lower fee

New York City’s Tribeca Film Festival switched its ticket vendor last summer from Eventbrite Inc. to SquadUp Inc., a relatively new entrant to the ticket vending market.

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Air Lease Corp. Planes Grounded

AVIATION: Boeing plane crashes hit leasing co.’s fleet

Last week’s grounding of Boeing Co.’s 737 MAX 8 commercial jetliner has hit Century City aircraft leasing company Air Lease Corp.

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Paragon Sticks With Retail

REAL ESTATE: Developer nabs malls, big-box stores

Retail isn’t dying, it’s evolving. At least that’s how Paragon Commercial Group sees it.

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FOOD FOCUS

Everytable aims to serve low-income areas, make money doing it

Sam Polk made millions of dollars as a Wall Street trader; now he wants to fix the fast-food business

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Lawyers Find Limelight, Shine Without It

The legal industry in Los Angeles has seen its share of the limelight in the past year, with local attorneys representing figures who have drawn outsized attention in media, academic and political scandals.

STYLE | LOADING OUT

Mhair Zeitounian I Reload Management

Mhair Zeitounian, president and talent manager at Reload Management, lives in Glendale, and technically that’s where his talent agency is based.

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Thursday, March 14

Brentwood-Based Catasys Reports Doubling 2018 Revenue to $15M

Catasys Inc., a Brentwood-based health tech company, reported March 14 it more than doubled its earnings last year to a record $15 million, with earnings expected to double again this year.

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Culver City-Based NantCell Raises Second $30M Round

NantCell Inc., a Culver City-based biotech firm founded by Los Angeles billionaire Patrick Soon-Shiong, has raised $30 million in investor funding after a similar injection late last year, according to a March 14 securities filing.

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Bird Lays Off Roughly 5 Percent of Staff

Bird Rides Inc., the electric scooter operator headquartered in Santa Monica, has laid off roughly 5 percent of its 900-person staff, an estimated 40 employees.

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Children’s Hospital Los Angeles Researcher Receives $1.6M to Study Eye Cancer

A scientist at Children’s Hospital Los Angeles has received a $1.6 million federal grant to study the cause of a rare eye cancer known as retinoblastoma, the hospital announced March 14.

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B. Riley Financial May be Partially on Hook for $126.5M Merger Breakup Fee

Delaware Chancery Court ruled Thursday that Rent-A-Center Inc., a rent-to-own retail products company in Plano, Texas, could terminate its $1.4 billion agreement to merge with a Florida private equity firm, putting Woodland Hills-based B. Riley Financial Inc. and the private equity firm on the hook to possibly pay a reverse breakup fee of $126.5 million.

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Silicon Beach Report March 14: Faraday Selling Manufacturing Plant for $40 Million

Activision Blizzard seeks e-Sports franchise owners; Backstage Capital accelerator launches; Faraday asks $40 million for Vegas site

La Mirada Office Building Sells for $13.64M

Anaheim-based real estate investment company Milan Capital Management bought an office building in La Mirada for $13.64 million, CBRE Group Inc. announced March 14.

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Levine Leichtman Capital Partners Sells Fastsigns

Beverly Hills private equity firm Levine Leichtman Capital Partners has completed the sale of Display Holding Co. Inc. to two Santa Monica-based private equity firms, and management with the Carrollton, Texas-based signage company.

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Wednesday, March 13

LAX Surpasses Tokyo Airport for No. 4 Global Passenger Ranking

Los Angeles International Airport surpassed Tokyo’s major airport to move up a notch to the No. 4 spot on the list of the world’s busiest airports as ranked by 2018 passenger traffic, according to a report released March 13.

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Faraday Future Selling Las Vegas Plant for $40M

Embattled downtown-based electric car designer Faraday & Future Inc. is selling the 900-arce parcel of land at the Las Vegas Apex Industrial Park it purchased in 2015 with plans to construct a $1 billion vehicle factory.

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L.A. Moves to Terminate AllenCo Oil Lease at Site Near USC

Los Angeles Mayor Eric Garcetti and a city councilman on March 13 announced the city was terminating a lease agreement with Signal Hill oil company Allen Co. Inc. that allowed the company to drill for oil at a site in the University Park neighborhood.

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City of Industry Building Sells for $11.5M

Commerce-based Max Sales Group Inc. has purchased a 64,000-square-foot industrial building in the City of Industry for $11.5 million.

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Report: Arcing of SoCal Edison Wires Caused Massive 2017 Thomas Fire

The Ventura County Fire Department on March 13 issued a report saying that arcing of wires owned and operated by Southern California Edison caused the massive 2017 Thomas Fire in Ventura and Santa Barbara Counties that charred 282,000 acres, destroyed nearly 1,100 structures and killed two people.

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Silicon Beach Report March 13: Musk's Vegas People Mover Project Approved

Jam City finds “Harry Potter” game lucrative; Cluster gains $1.9 million; Boring Co. approved for Vegas people mover

Long Beach Approves Tentative Deal to Reopen Community Hospital for $90M

The City of Long Beach has agreed to a deal for at least $90 million to reopen Community Hospital Long Beach after its former operator pulled out because of the cost of pending seismic safety repairs.

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Recruiting Platform Cluster Raises $1.9M With Plans to Expand

Culver City-based recruitment firm Cluster Inc. raised $1.9 million to expand its team and bolster relationships with manufacturers in Southern California, the company announced on March 13.

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Brookfield to Buy Majority $4.7B Stake in Downtown-Based Oaktree Capital Management

Downtown-based Oaktree Capital Group has sold a 62 percent stake valued at $4.7 billion in its global asset management firm to Brookfield Asset Management Inc., a Toronto-based alternative asset management company.

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Tuesday, March 12

Obituary: Roy Doumani, 1935-2019

Roy Doumani, a keen Los Angeles businessman, philanthropist and driving force behind bioscience innovation whose education nurtured a generation of entrepreneurs at UCLA, has died. He was 83.

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UCLA, USC Remove Three Following Nationwide University Admissions Fraud Scheme

UCLA and USC on March 12 removed three high-ranking athletics officials who were charged by federal authorities in a nationwide university admissions fraud scheme.

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Cedars-Sinai, Providence Form Joint Venture for Tarzana Hospital

Providence St. Joseph Health and Cedars-Sinai have agreed to create a joint venture to own and operate Providence Tarzana Medical Center, Cedars-Sinai announced Tuesday.

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Silicon Beach Report March 12: Pritzker Group Leads Livly Investment

Two Bit Circus hosts e-sports tournament; Livly raises $10 million led by Pritzker; QuiBi plans show about Snapchat CEO

Pritzker Group Leads $10 Million Livly Seed Round

Santa Monica-based Pritzker Group Venture Capital on March 12 led a $10 million seed funding round for Chicago-based property management software developer Livly.

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Spirit Airlines to Begin Hollywood Burbank Airport Service in June

Spirit Airlines will begin service in June between Hollywood Burbank Airport and McCarran International Airport in Las Vegas.

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Molina to Lay Off Nearly 90 More Workers in Latest Termination Wave

Molina Healthcare Inc., a Long Beach-based managed-care services provider, will lay off nearly 90 more workers during a wave of layoffs that dovetails with the offshore outsourcing of its IT services, according to a state employment report.

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USC Edges Up in Biz School Ranking Closer to UCLA

USC’s business school moved up a notch in the latest rankings issued by U.S. News & World Report on March 12, closing in on UCLA’s position.

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Monday, March 11

Trethera Corp. Raises $8M During Biotech Investor Round

Trethera Corp., a biotechnology firm based in Brentwood, raised up to $8 million from investors, according to a securities filing posted March 11.

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Logistics Firm Signs $11.2M Lease for Industrial Space in Industry

Soho Logistics will take over a 168,913-square-foot industrial facility in the City of Industry in a lease valued at $11.2 million, CBRE Group Inc. announced March 11.

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Silicon Beach Report March 11: Stamps.com Announces $60 Million Stock Repurchase Plan

Disney plans to seal vault; Brooks hired at QuiBi; Stamps.com reveals stock repurchase agreement

WeWork to Open First Location in Beverly Hills

WeWork Companies Inc. has signed a lease for 70,000 square feet in Beverly Hills. Terms of the lease were not disclosed.

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Z Gallerie Files for Bankruptcy Protection, Plans to Shutter 17 Stores

Home décor retailer Z Gallerie filed for Chapter 11 bankruptcy protection and plans to close 17 stores as part of its restructuring.

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Executive Education (March 11): A New Era in Business Education

Custom Content by the Los Angeles Business Journal

Last year, AACSB International (AACSB), the world’s largest global business education network, launched a new face for the future of business education through the rollout of a new brand identity.

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Executive Education (March 11): Hot Jobs - Demand for Data Scientists Continues to Rise

Custom Content by the Los Angeles Business Journal

The era of Big Data is here, and successful businesses are now relying on highly- trained data analysts to help them drive corporate strategy and make smart decisions.

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Executive Education (March 11): The Cal Lutheran Executive MBA

Custom Content by the Los Angeles Business Journal

The Executive MBA from California Lutheran University’s School of Management is designed for mid-career professionals who have already experienced some success and want to identify and achieve bigger goals in their careers.

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Executive Education (March 11): LMU Enters Post-Graduate Business Certificate Arena

Custom Content by the Los Angeles Business Journal

In an effort to provide students with a competitive advantage and to enhance their knowledge and skill sets in particular fields, starting this spring, Loyola Marymount University will introduce a portfolio of post-graduate business certificate programs at the state-of-the-art LMU Playa Vista Campus, located in the heart of Silicon Beach.

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Executive Education (March 11): MBA Graduate Compensation and Responsibilities Are Up

Custom Content by the Los Angeles Business Journal

The Executive MBA Council (EMBAC) recently shared results of the 2018 EMBAC Student Exit Survey which revealed that EMBA graduates received a 14.6 percent increase in compensation – combined, both salary and bonuses – after program completion.

Executive Education (March 11): Survey Results - MBA Programs More Global, Diverse

Custom Content by the Los Angeles Business Journal

Growth of technology in Executive MBA programs offers new learning opportunities

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Friday, March 8

Virtual Influencer Maker Raises Nearly $20M

Artificial intelligence and robotics outfit Brud Inc. has raised nearly $20 million from investors, according to a March 7 filing with the U.S. Securities and Exchange Commission.

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2019 BUSINESS HALL OF FAME

In this special issue, the Business Journal also acknowledges several Business Leaders of the Year in recognition of their career accomplishments: J.H. Snyder Co.'s Jerry Snyder; MUFG Union Bank’s Bita Ardalan, Sullivan & Cromwell’s Alison Ressler, and City of Hope’s Robert Stone.

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PUSHING FOR PERFECTION

BUSINESS LEADERS OF THE YEAR

Union Bank’s Bita Ardalan leads by example

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HEART OF STONE

BUSINESS LEADERS OF THE YEAR

City of Hope Chief Executive Robert Stone’s patient-first mindset leads to growth

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BOARDROOM BROKER

BUSINESS LEADERS OF THE YEAR

Alison Ressler’s penchant for complex M&A work propelled her to top of legal profession

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Silicon Beach Report March 8: Rogue Co. Rakes in $1.25 Million

Dragon Capsule splashes down; Bird debuts fleet management platform; mobile gaming firm Rogue Co. raises seed round.

Common, Proper Development Team Up to Build Seven Co-Living Homes in LA

New York-based Common plans to spend $100 million to build seven co-living homes in Southern California with Beverly Grove-based Proper Development.

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City of Pasadena Signs $4M, 10-Year Contract With Tiba Parking

The City of Pasadena’s antiquated, analog public parking system is getting a makeover thanks to a deal with Ohio-based Tiba Parking.

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LA Unemployment Rate Held Steady in January

L.A. County’s unemployment rate in January remained at 4.7 percent for the third straight month, despite heavy seasonal job losses, according to state figures released March 8.

CHILD’S PLAY

Co-working spaces for parents take off

New mom Naomi Leight-Give’on was having a hard time balancing the demands of her professional work and parenting responsibilities.

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Departures Leave Void in LA Engineering Sector

Parsons and Jacobs take employees, projects; tech opportunities remain

Has Los Angeles County lost its engineering mojo?

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LA Galaxy Names Official Mezcal Partner

AEG signs El Silencio to feature at sports park and music venues

The Los Angeles Galaxy and Dignity Health Sports Park have agreed to a multiyear sponsorship deal with Santa Monica-based El Silencio Holdings Inc. in a partnership the team is calling the first of its kind.

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Platinum Equity’s Lonza deal finalized

$630M acquisition is one of several in recent months for private equity outfit

Beverly Hills-based private equity firm Platinum Equity has completed its purchase of Lonza’s water care business for $630 million

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Consultancy Offers Multidimensional Expertise

Infinite Retina will advise clients in virtual reality, augmented reality, staffing

A new kind of consultancy launched last week in Pasadena that will advise companies developing augmented reality, virtual reality and other three-dimensional digital technology.

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BUILDING LEGACY

Business Hall of Fame

Jerry Snyder’s not done making his mark on L.A.

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Edison Takes $1.4B Loss

Q4 loss stems from $1.8B wildfire-related writeoff

Rosemead’s is Edison International took a $1.8 billion charge during the fourth quarter of last year to set aside funds to handle existing and expected wildfire and mudslide damage claims

Leaf Reports Growth Buds

MEDIA: Internet publisher sees positive earnings trend

After years of declining revenue and being derided as a “content farm,” Leaf Group Ltd. returned to budding financial gains in 2018.

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Opiant Finds OD Antidotes

HEALTH CARE: SaMo firm fighting opioid epidemic

Roger Crystal saw a lot of emergency room patients die from heroin overdoses during his time working in a London hospital earlier in his career.

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Biometrics Finds Footing

TECHNOLOGY: LAX pilot program seen as tipping point

The Los Angeles region has become a testing ground for consumer technologies that employ facial recognition of biometric scans.

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SNYDER SHOWCASE

Business Hall of Fame

J.H. Snyder Co. projects show up across the Los Angeles landscape

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Sun Sets on Verengo Solar

Solar panel firm’s last outpost to shutter by end of May; 47 workers to be let go

The sun is finally setting on Verengo, a local solar panel installer that was once the third largest in the nation but entered bankruptcy in 2016

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Modest K-Town Units Draw Interest in Hot Market

Apartment building with studios and 1-bedrooms sells for $12.6 million

Hot Koreatown residential real estate market spreads to modest units.

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Metro Grants Keep Doors Open

TRANSPORTATION: Local firms receive $18M so far

Four years ago, Cary Jordan moved his family restaurant Jordan’s Hot Dogs from Watts to Crenshaw Boulevard in Hyde Park

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STYLE | Living the Dream

Larry Miller I Sit ‘n Sleep Inc.

Sleepy style

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Possibilities and Pitfalls of Social Media

Social media platforms have been hailed for their potential to democratize information.

DTLA at Intersection of Local and Global

Cities, like all successful ecosystems, thrive on diversity.

Thursday, March 7

Providence Saint John’s Receives $5M Gift From Longtime Supporters

A Los Angeles couple who have been major supporters of Providence Saint John’s Health Center gave $5 million to its foundation to support health care and research.

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Former Math Professor Donates $1M to UCLA for Visiting Faculty

A former math professor has donated $1 million to UCLA to bring visiting mathematics professors to the campus.

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Silicon Beach Report March 7: TeleSign Selects New CEO

Netflix marketing lead steps down; Amplify.LA backs Alto; Disraeli appointed TeleSign chief executive

Crescent Acquisition Corp. Begins Trading on Nasdaq

West Los Angeles-based Crescent Acquisition Corp., a blank check company formed by alternative asset manager Crescent Capital Group with over $24 billion in assets under management, plans to raise $250 million by offering 25 million units at a price of $10 each.

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Handbag Brand Hammitt Raises $2M

Hammitt Inc., a Hermosa Beach luxury handbag maker, raised $2 million dollars in funding from investors, according to a Feb. 6 securities filing.

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$65M for Ocean Avenue Parcel in Santa Monica

Beverly Hills-based StarPoint Properties has sold a 0.79-acre property for $65 million, showing that what they say in real estate is true: location, location, location.

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TeleSign Appoints Co-Founder Disraeli as Chief Executive

Marina del Rey-based identity verification outfit TeleSign Corp. announced March 7 the appointment of Co-Founder Ryan Disraeli as Chief Executive Officer.

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CTBC Bank CEO Joins FDIC Panel on Supervision Modernization

Noor Menai, president and chief executive officer of downtown-based lender CTBC Bank Corp. (USA), was named by the Federal Deposit Insurance Corp. to a community banking advisory panel looking at ways to adopt better technology and data sources used in safety and soundness examinations in the banking system.

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Wednesday, March 6

Musk’s Boring Co. Chosen for Vegas Convention Center People Mover Project

The Boring Co. has been chosen by the Las Vegas Convention and Visitors Authority to design, construct and operate an underground people mover for the Las Vegas Convention Center, which is now undergoing a 1.4 million-square-foot expansion, the authority announced late on March 6.

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Co-Working Company Inks Deal to Open New Location in DTLA

Carr Workplaces has signed a 24,000 square foot lease for The Bloc in downtown. The co-working company will open the location in the spring.

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Silicon Beach Report March 6: Mars Rock Puts JPL in Hard Place

Vertebrae expands to Texas; Opaque Studios rebrands; InSight lander dig mission paused

Tuesday, March 5

West LA Retail Property Sells for $22.6M

A roughly 36,000-square-foot retail property in West L.A. has sold for $22.6 million, CBRE Group Inc. announced March 5.

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Silicon Beach Report March 5: Cedillo Seeks to Curb Scooters

Amazon planning grocery store in LA; AT&T partners with Cloud9; city council proposes scooter ban

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Colony Capital Builds Last-Mile Network With Purchase of 54 Industrial Properties

Affiliates of downtown-based Colony Capital Inc. have acquired 54 industrial buildings for $1.16 billion, the company announced March 5.

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Monday, March 4

Skya Ventures Planning 92-Unit Complex in East Hollywood

Tarzana-based Skya Ventures plans to develop a 92-unit complex in East Hollywood, according to plans filed with the city Feb. 28.

CRE Awards 2019: The Office Property and Big Data Puzzle: Putting the Pieces Together

Custom Content by the Los Angeles Business Journal

Study explores the effect of big data on office real estate

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CRE Awards 2019: Deploying Beacons and Sensors in Commercial Real Estate

Custom Content by the Los Angeles Business Journal

New research brief explores usages, concerns of related technologies

CRE Awards 2019: More than 45 Years of Dedication, Innovation + Professionalism

Custom Content by the Los Angeles Business Journal

Since its inception over 45 years ago, MVE + Partners has been an award-winning firm, leading the architecture and planning industries in design trends of multi-family and mixed-use developments.

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CRE Awards 2019: Tips for Choosing Your Business Location

Custom Content by the Los Angeles Business Journal

Choosing a business location is perhaps the most important decision a small business owner or startup will make, so it requires precise planning and research.

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CRE Awards 2019: Blockchain - Bringing Real Estate into the 21st Century

Custom Content by the Los Angeles Business Journal

Not long ago, most of the people in the real estate industry had never heard of “blockchain technology.”

CRE Awards 2019: A Closer Look at the Qualified Opportunity Zone Program

Custom Content by the Los Angeles Business Journal

The 2017 Tax Cut and Jobs Act (2017 Act) created the federal Qualified Opportunity Zone program (QOZ or Program) effective in 2018 and operative for the next three decades. Beginning January 1, 2018, through December 31, 2026, individuals, corporations, REITs, and pass-through entities can sell a wide variety of appreciated capital assets and elect to reinvest the resulting capital gain into a Qualified Opportunity Fund (QOF).

Silicon Beach Report March 4: SpaceX Crew Dragon Reaches Space Station

Dills appointed as LinQuest CEO; ServiceTitan hires CMO; SpaceX completes Space Station test docking

CRE Awards 2019: Best Land Sale

Custom Content by the Los Angeles Business Journal

CBRE facilitated the sale of a 25.48-acre lot in Irwindale for $63 million, according to industry sources. Duke Realty, an Indianapolis-based industrial real estate investment company, was the buyer in the transaction.

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CRE Awards 2019: Best Multi-Family Sale

Custom Content by the Los Angeles Business Journal

The Fifty Five Fifty is a recently built, luxury, transit-oriented, 280-apartment home, 7-story asset.

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CRE Awards 2019: Best Medical Lease

Custom Content by the Los Angeles Business Journal

In 2016, Yair Haimoff assisted The Regents of UCLA by securing a lease of approximately 17,000 square feet at Encino Arches located at 15503 Ventura Blvd., Encino.

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CRE Awards 2019: Best Medical Sale

Custom Content by the Los Angeles Business Journal

CBRE’s Bradford McCarthy represented the seller, the French Society, in the $33 million trade of a medical property in Downtown Los Angeles. Allied Pacific IPA represented itself.

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LinQuest Names CEO

Government space technology provider LinQuest Corp. named Timothy Dills its new chief executive, the company announced Monday.

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CRE Awards 2019: Best Retail Sale

Custom Content by the Los Angeles Business Journal

The Newmark Knight Frank team led by Jay Luchs, Vice Chairman at Newmark Knight Frank, specializes in the sale and leasing of investment properties, with a focus on representing international retail and fashion brands in finding store locations.

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CRE Awards 2019: Best Office Lease

Custom Content by the Los Angeles Business Journal

CBRE’s Todd Doney and Matt Hargrove represented the tenant, Warner Bros., and the landlord in the 456,000-square foot lease renewal at Studio Plaza, a Douglas Emmett-owned office building in the Burbank Media District.

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CRE Awards 2019: Best Office Sale

Custom Content by the Los Angeles Business Journal

In March of last year, Newmark Knight Frank closed the $196 million sale of Wedbush Center at 1000 Wilshire, a 21-story 476,491-square-foot Class A office building in downtown Los Angeles.

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CRE Awards 2019: Best Industrial Lease

Custom Content by the Los Angeles Business Journal

CBRE’s Craig Peters represented the tenant L’Oreal, the largest subsidiary of L’Oreal Group, the world’s leading beauty company.

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CRE Awards 2019: Best Industrial Sale

Custom Content by the Los Angeles Business Journal

CBRE’s Darla Longo and Barbara Emmons-Perrier, co-vice chairwomen, head up CBRE’s West Coast National Partners team.

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CRE Awards 2019: Rookie of the Year

Custom Content by the Los Angeles Business Journal

Andrew Gharibian joined First Property Realty Corporation a few months after graduating from USC, where he studied Real Estate, which gave him the education and tools to succeed in the industry at an early age.

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CRE Awards 2019: Brokers of the Year

Custom Content by the Los Angeles Business Journal

Kevin Shannon joined Newmark Knight Frank in December of 2015 and serves as Co-head of US Capital Markets out of the firm’s El Segundo office.

Friday, March 1

CRE Awards 2019: Best Tenant Improvement Project

Custom Content by the Los Angeles Business Journal

This international development firm based in Sydney Australia, relocated and expanded their satellite office in downtown Los Angeles, where they currently have several high-rise office buildings under construction.

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Two Apartment Buildings in Santa Monica Sold for $20.6M

A family trust has sold a $20.6 million portfolio of two apartment buildings in Santa Monica, Stepp Commercial announced Feb. 28.

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CRE Awards 2019: Best Redevelopment Project

Custom Content by the Los Angeles Business Journal

The Culver Studios project consists of relocation, structural retrofit, and restoration of an existing group of four historic bungalows on the landmarked Culver Studios property including seismic retrofit of two additional historic structures, a new central plant serving all relocated and existing buildings, interior tenant improvements, accessibility upgrades, and new building systems for utilization of the buildings as office space.

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CRE Awards 2019: Best Public Project

Custom Content by the Los Angeles Business Journal

The Aquarium of the Pacific’s new Pacific Visions Wing offers visitors new ways to understand our connections to Earth, the Pacific Ocean, and contemporary scientific research.

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Silicon Beach Report March 1: Forge Shifts San Francisco Headquarters to LA

Faraday Future sued (again); Forge acquires ShiftMe; Riot Games hires diversity officer

CRE Awards 2019: Best Office Project

Custom Content by the Los Angeles Business Journal

Paris based international beauty company, Coty, consolidated its existing facilities in North Hollywood and Woodland Hills into the newly redeveloped Park Calabasas.

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Saban Terminates Panavision Purchase

One of the biggest entertainment acquisitions announced last year has been abandoned.

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CRE Awards 2019: Best Multi-Family Project

Custom Content by the Los Angeles Business Journal

A breath of fresh air in a bustling metropolis, the 18-story Vision on Wilshire blends the convenience of urban living with the freedom of a lofty sanctuary.

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Westlake Apartment Building Receives $23M in Financing

A 189-unit apartment building in Westlake has received $22.5 million in financing, HFF announced Feb. 28.

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CRE Awards 2019: Best Mixed-Use Project

Custom Content by the Los Angeles Business Journal

CIRCA, located across from the Staples Center in downtown Los Angeles is situated on nearly three acres with twin 35 story towers.

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Residential Rides On

Residential Brokers Special Report

This special report details their successes and looks at players who drive the market.

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TOP DOLLAR

Residential Brokers Special Section

The luxury residential real estate market saw highlights in 2018.

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CRE Awards 2019: Best Medical Project

Custom Content by the Los Angeles Business Journal

Michelson Hall houses the new state-of-the-art Center for Convergent Bioscience at USC and stands in the southwest quadrant of the University Park Campus, home to the science and engineering buildings, and houses 20 to 30 principal investigators with laboratories employing hundreds of researchers and students.

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CRE Awards 2019: Best Industrial Project

Custom Content by the Los Angeles Business Journal

Goodman is one of the world’s leading developers of industrial real estate with more than 187 million square feet under development across North America.

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Port of Pride

Port of Long Beach driver for local economy, study says

Port of Long Beach has far-reaching impact on region’s employment.

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Puma Bio Shares Soar After Tripling Q4 Earnings From Cancer Drug Sales

Puma Biotechnology Inc., a biotech company based in West Los Angeles, announced March 1 it had tripled its year-over-year fourth quarter earnings to $61 million on sales of its signature breast cancer drug.

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CRE Awards 2019: Best Hospitality Project - Hotels

Custom Content by the Los Angeles Business Journal

NoMad Los Angeles is now a luxury hotel Downtown, located in the historic Giannini Place, former home of the Bank of Italy (which later became Bank of America), at Olive and 7th streets.

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Platinum Equity Completes $630M Acquisition of Lonza Water Care Business

Beverly Hills-based private equity firm Platinum Equity completed the acquisition of Lonza's water care business for $630 million.

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CRE Awards 2019: Best Hospitality Project - Restaurant

Custom Content by the Los Angeles Business Journal

The United Polaris Club at LAX consists of the build-out of a 12,000-square-foot lounge for United Fist Class Passengers.

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Region Must Find Scooter Solution

Business in Los Angeles depends on a wide range of public utilities, not the least of which are the thoroughfares maintained by local municipalities.

UMG Rides Streaming Music Wave

ENTERTAINMENT: Label’s rise gives it $50B valuation

Music streaming spurs $50B valuation for Universal Music Group.

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COLONY SELLS RE PORTFOLIO FOR $136M

Downtown-based Colony Capital Inc.’s industrial platform, Dallas-based Colony Industrial, sold a light industrial portfolio to Nuveen Real Estate Ltd.

Parsons Decamps for Va.

ENGINEERING: Firm moves Pasadena HQ to DC metro

Los Angeles County is losing another major corporate headquarters.

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SBA Jitters for K-Town

FINANCE: Ethnic banks see red flags on small biz loans

Bankers throughout Koreatown are seeing warning signs on small business lending.

PLATINUM’S $2.5 BILLION BUY

An affiliate of Beverly Hills-based private equity firm Platinum Equity has agreed to purchase Multi-Color Corp.

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Colony Sells RE Portfolio for $136M

Downtown-based Colony Capital Inc.’s industrial platform, Dallas-based Colony Industrial, sold a light industrial portfolio to Nuveen Real Estate Ltd.

UCLA OPENS HEART PRACTICE IN DTLA

UCLA Health System opened a new cardiovascular practice downtown

POMONA ALUM GIVES $15M GIFT FOR MUSEUM

Pomona College has received a $15 million gift from an alumna and New York philanthropist

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10-Acre Expansion Planned for Citadel

Plans call for new hotels and a monorail

Citadel Outlets expansion includes a monorail.

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Brokers Break Even

Residential sales take minor dip in 2018 with rocky fourth quarter

The sprawl of Los Angeles County is dotted with 88 cities and an almost limitless number of unincorporated areas and neighborhoods. While commercial real estate often is the focus of the business world in L.A., the majority of the region’s population is intimate with a different set of properties: their homes. In this world, the real estate agent is king – and these brokers’ businesses has seen a record rise over the last decade. The following special report details their successes and looks at players who drive the market.

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How to Lead Your Company into the Future

The Brookings Institution released a study recently on what tasks will be susceptible to future automation in more than 100 metropolitan areas.

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Techstars Launches LA Accelerator

TECHNOLOGY: Aerospace startups will receive initial $120,000 investment

Aerospace accelerator launches.

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Dalton Urges Korean Stock Exchange Reform

Market underperforming due to poor governance, according to public letter

Dalton demands changes to South Korean exchange.

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Kaiser Offers Medical Students Free Tuition

New med school to cover program costs for first five classes

Kaiser to offer first students free tuition at its medical school.

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Congestion Plagues LA and Long Beach Ports

Cargo sits at terminals as regional warehouse space remains tight

Congested docks plague L.A., Long Beach ports.

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Third Street Promenade Building Sold for $24.5M

Blatteis & Schnur purchase along high-traffic area funded by $17.6M loan

Life’s a beach for seller of $24.5M SaMo building.

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ELEVATING ELECTRIC

Ampaire takes battery revolution skyward

Ampaire’s battery-powered plane gives aircraft industry a jolt.

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STYLE | Artful Authenticity

Nurit Siegel Smith • House of Blues Music Forward Foundation

Artistic authenticity

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