Regional Report

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Sherman Oaks


West Coast Expansion:

On the Go Marketing, a New York-based event marketing company, is opening a West Coast office at 13525 Ventura Blvd. Sasha Itzikman has been promoted to president and will oversee operations in New York and Los Angeles. On the Go Marketing was founded in 1999 by Chief Executive Mark DiPippa and Chief Creative Officer Ari Forman. The company has worked with clients such as JetBlue Airlines, VW, NBC Universal, CBS Digital, Mercedes, Nike, Starbucks and Procter & Gamble.



Van Nuys


Groundbreaking Laboratory:

Valley Presbyterian Hospital has begun construction on a state-of-the art Cardiac Catheterization Laboratory for the evaluation and treatment of patients with coronary disease. The laboratory will cost nearly $4 million to build on 2,786 square feet of space on the first floor of the hospital, near the operating and emergency rooms. The lab is partially funded by the Fritz B. Burns Foundation and is scheduled for opening in September.



Encino


Portfolio Purchased:

Encino-based apartment management company Urbatec, sold eight Los Angeles apartment buildings comprised of 812 units to private investor Regent Plaza KBS LP for $70.8 million, or about $87,155 per unit. The property sold for $2.74 million above the list price. The deal includes two buildings in Inglewood and Covina, and one in Whittier, El Monte, Los Angeles and Pomona.



Century City


Southward Bound:

Jeffer Mangels Butler & Marmaro LLP, based in Century City, opened an office in Costa Mesa to serve its Orange County clients. The new location is at 695 Town Center Drive in Class A office space. Gordon A. Schaller, an Orange County tax and estate planning attorney formerly with Greenberg Traurig, was hired by Jeffer Mangels to manage the new office. Some of the firm’s attorneys, based out of the Los Angeles and San Francisco offices will spend a significant amount of time working from the Orange County office to get it started.



Beverly Hills


Oil Money:

Saudi Arabia’s Prince Al Hussein Bin Talal provided $32.5 million in funding to Beverly Hills-based Toll Free Yellow Pages Corp. and promised an additional $7.5 million once the company meets certain milestones. Toll Free Yellow Pages is preparing to offer a free alternative to 411 by dialing either 1-877-YellowPages or 1-866-YellowPages. The service is expected to launch sometime in the second half of this year. The company also recently formed a partnership with comparison shopping site discountmore.com to offer consumers comparison shopping over the phone.



Culver City


Architecture Acquisition:

San Francisco-based IA Interior Architects announced a definitive agreement to acquire Culver City-based Wolcott Architecture Interiors. The two companies have already started to integrate and pursue joint marketing opportunities. The combined staff in Los Angeles will be more than 60 and will be known as Wolcott IA Interior Architects. Managing principals John Wolcott and A.J. Wilder will lead the company out of Wolcott’s Culver City office and IA’s Los Angeles office.



Glendale


True Blue:

True Religion Inc. signed a lease agreement to open a new store at the Americana at Brand, a new 15.5-acre retail and residential mall in downtown Glendale. The True Religion store will be 1,425-square feet and is scheduled to open in the spring of 2008.



Downtown


Scholarly Donation:

Michael and Linda Keston expanded their gift to the University of Southern California’s Keston Institute for Public Finance and Infrastructure Policy. The $2 million in funding will used for additional research, educational, and outreach activities in public finance and infrastructure policy. The institute was established when the couple donated $4 million in 2002. An institute director, Richard G. Little was hired in 2004. The Keston institute is part of the USC School of Policy, Planning, and Development.



Headquarters Relocation:

Colliers International, a Los Angeles-based real estate services company, is moving and expanding its downtown headquarters. The firm is moving from 22,000 square feet at 444 S. Flower St. to 34,000 square feet in the TCW Tower at 865 S. Figueroa St., where Colliers International will occupy the 34th and 35th floors. Brokerage operations will be expanded with the addition of several new brokers and staff and plans to house more than 70 employees in the new headquarters. The company’s phone and fax number will remain the same.



Office Expansion:

Milwaukee-based law firm Foley & Lardner LLP is moving and expanding its Los Angeles location from 2029 Century Park East in Century City to the entire 35th and 36th floors of the City National Tower at 555 S. Flower Street. The firm will occupy 52,772 square feet on a 10-year deal valued at $2.85 per square foot per month, or more than $18 million for the whole term.



Hollywood


Minority Milestone:

“Making It! Minority Success Stories,” a four-time Emmy award winning television show produced by Hollywood-based Nelson Davis Television Productions recently reached its 18th year on air. The half-hour magazine format show highlights the challenges and contributions of minority business enterprises and has been aired on KTLA (Channel 5) in Los Angeles since its first day of syndication.



Re-Launch:

FreeConference.com Inc., a conference call company, re-launched its operations under a new corporate name, Global Conference Partners, and with a new senior management team. Alex B. Cory will lead the company as chief executive. FreeConference.com was acquired in May of 2006 by American Capital Strategies. The company has served the audio conferencing marketplace. The new name reflects the company’s plan to deliver telephone and Web-based communication solutions worldwide.



Palmdale


Shopping Center Sold:

Palmdale Center, an 81,000-square-foot shopping center on E. Palmdale Boulevard, was purchased by Palmdale Shopping Center LLC for $10.8 million. The center is anchored by Smart & Final, Big Lots and Dollar Tree



Pomona


Student Housing:

Helix at University Village, a 100-unit multi-family project built in 2005 as student housing for Western University in Pomona, was purchased in a joint venture of Virtu Investments and Lowe Enterprises Investors. The 90,966 square foot property on East Third Street serves graduate students and includes a fitness center, outdoor barbecue areas, indoor study areas and lounge. The property sold for $15.1 million, or $151,250 per unit.



San Pedro


Waterfront Project Approval:

Palos Verdes Street Investments LLC secured entitlements for a $110-million mixed-use project in downtown San Pedro along the waterfront. The 18-story residential tower will include 4,000 square feet of ground floor retail and commercial space along with 32 brownstone flats and condos.

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