DOWNTOWN LOS ANGELES
On Track: Aecom Technology Corp., a downtown L.A.-headquartered engineering services firm, has been awarded a $16.8 million contract by the Metropolitan Council of the Twin Cities to perform preliminary engineering work on the Southwest Light Rail Transit line in Minneapolis. Aecom will work on the western half of the 15.8-mile rail corridor, which will include 17 new stations. Construction is scheduled to begin in 2015.
Moving In: Faring Capital, a West Hollywood investment firm, has broken ground on a retail and commercial property in the same city. The 27,000-square-foot project, at 8711 Melrose Ave., is designed with smaller single spaces to attract a mix of tenants, as opposed to neighboring single-tenant showrooms mainly for interior design and retail businesses. Work is scheduled to be finished by spring.
Powered Up: Balqon Corp., a Harbor City developer of electric vehicles and related technology, has been selected to receive $925,000 in Department of Energy funds to develop three electric trucks for use at the ports of Los Angeles and Long Beach. The grant will be administered by the Department of Energy and California’s Air Quality Management District.
Name Game: Demand Media Inc., a Santa Monica digital media firm, has acquired Name.com, a Denver Internet domain name registrar. The acquisition is intended to expand Demand’s registrar platform as the Internet Corp. for Assigned Names and Numbers gears up for the release of Top-Level Domains, which will increase the number of domain name choices.
Surf’s Up: Patagonia Inc., a Ventura maker of surfing apparel and related accessories and equipment, has opened a Santa Monica outpost, at 1344 Fourth St.
Minneapolis Pickup: Korn/Ferry International, the Century City-headquartered executive search firm, has completed its acquisition of PDI Ninth House, a Minneapolis employment services firm. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
Industrial Building: Rexford Industrial has acquired a Van Nuys distribution warehouse for $5.6 million from a family trust. The 81,282-square-foot property, at 15041 Calvert St., sits on a 3.8-acre parcel and is fully occupied by a heating and air-conditioning company.
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