Checked In: UCLA Health System has opened its Medical Office Building in Santa Monica, near the UCLA Medical Center that opened in January. The three-story, 50,000-square-foot medical building, at 1223 16th St., was designed by Michael W. Folonis Architects in Santa Monica, and built by Berkeley-based private developer Nautilus Group Inc.
Public Offering: Hudson Pacific Properties Inc., a Brentwood real estate services company, has commenced an underwritten public offering of 10 million shares of common stock. Hudson Pacific intends to grant the underwriters a 30-day option to purchase up to an additional 1.5 million shares at the IPO price, less the underwriting discount. The company plans to use the money for general purposes, and to repay debt and help pay for recent acquisitions.
Reverse Split: CytRx Corp., a biopharmaceutical company in Brentwood, has announced a 1-7 reverse split of its common stock. The split will reduce the number of outstanding shares of common stock from about 149 million to 21.3 million shares. The goal is to raise share value above Nasdaq’s $1 continued listing requirement.
Cut Above: Restaurant chain California Pizza Kitchen Inc. is moving this fall to new headquarters in Playa Vista. CPK will be moving from near the Los Angeles International Airport to a nearly 34,000-square-foot, top-floor space at 12181 Bluff Creek Drive. Financial terms of the lease were not disclosed.
SAN FERNANDO VALLEY
Valley Laurels: The Greater San Fernando Valley Chamber of Commerce has announced the recipients of its 2012 Excellence Awards, which are given to businesses that support the community. Valley Industry and Commerce Association, a business advocacy group in Sherman Oaks, received the Chairman’s Award of Excellence. The Community Award of Excellence went to Van Nuys Airport. The Law Offices of Asher A. Levin in Woodland Hills received the Chamber Award of Excellence. The awards will be handed out at the chamber’s June 16 Take Two Inaugural Ball.
Sold on Vendor: Munchkin Inc., a North Hills developer of infant and toddler products, was recognized as a vendor of the year for 2011 by Toys “R” Us Inc., the Wayne, N.J. retail giant. Munchkin was honored for its service and product innovation. Last year, Munchkin launched several products at Babies “R” Us, including a line of safety gates and the Arm & Hammer 3-in-1 Potty Seat.
SAN GABRIEL VALLEY
Real Estate Pickup: LNR Property Corp. has sold a La Puente retail center for $2.66 million to Astani Enterprises Inc., a real estate investor and developer. The 45,675-square-foot center, at 15423-15441 Amar Road, was built in 1955 and renovated in 1995. It is part of La Puente Pavilion.
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