Clean Cruising: Miami-based Norwegian Cruise Line signed a multi-year agreement with the Port of Los Angeles to commit its Norwegian Star ship to environmental programs outlined in the Clean Air Action Plan a joint plan implemented by the L.A. and Long Beach ports to improve air quality. The Norwegian Star, which calls the Los Angeles port home, will comply with the Vessel Speed Reduction Program, which will slow the ship when it comes within 40 miles of the port. It will use low sulfur fuel while in and around the port, and it will turn off its diesel-burning engines while at dock and plug into onshore electrical power. Princess Cruise Line has signed a similar agreement.
Deal Inked: New Age Electronics Inc., a Carson-based provider of supply chain and distribution services, signed a distribution agreement with Samsung Electronics Co. Ltd. Under the terms of the agreement, New Age will distribute products including printers, copiers, and fax machines for Samsung. New Age already has distribution deals with Sharp and HP.
Groundbreaking: The city of Compton, IQ Development and Prism Realty break ground this week on Compton's largest development in history. The Gateway Towne Center, a 500,000-square-foot retail development and business center located on Alameda Street south of the 91 Freeway, will include a Target, Home Depot, Best Buy, Staples, Shoe Pavilion, Marshall's, 24 Hour Fitness, Starbucks, Jamba Juice, Chili's and banks. The development is expected to create more than 1,000 new jobs. The city is also investing millions of dollars into street repairs, public landscaping, recreational equipment and enhanced lighting.
SAN GABRIEL VALLEY
City of Industry
Industrial Lease: ARC International Inc., an electronic recycling company headquartered at 680 S. Lemon Ave. in City of Industry, signed a three-year lease for an industrial building at 333 S. Turnbull Canyon Road, also in Industry. The 128,227-square-foot space is owned by First Industrial Realty Trust and sits on 6.6 acres of land. ARC International Inc. has another office in Industry as well, at 911 S. Bixby Dr.
Single-Family Units: Emvelco RE Corp., a partially owned subsidiary of Beverly Hills-based Emvelco Corp., plans to develop three single family residences in the Miracle Mile district of Los Angeles within the next year. Emvelco purchased two parcels on Jan. 17 and 18 on Edinburgh Ave. and Laurel Ave. The third parcels was purchased in September 2006. Each parcel was purchased for about $1 million. Emvelco is also working on a 296 condominium project in Las Vegas called Verge Living.
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