SAN GABRIEL VALLEY
Staying Put: Xencor Inc., a clinical-stage biopharmaceutical company in Monrovia, has entered into a new lease for its 25,000 square feet of office and lab space at 111 W. Lemon St. The new deal started Jan. 1 and supersedes a prior lease for the property, owned by a private investor, that was to expire April 15. Financial terms of the deal were not disclosed.
Western Expansion: Dallas-headquartered accounting firm Weaver has opened its first office outside the state of Texas with its new Manhattan Beach location. The outpost, at 1600 Rosecrans Ave., will be overseen by Michael Hearne and Matt Anderson.
Office Acquisition: Reat Properties has acquired a Gardena office building for $3.25 million from Imoss Investments. The 14,009-square-foot property, at 18505 S. Broadway, is fully leased to Global Casuals Inc.
Making Grade: Brentwood Associates, a Westwood private equity firm focused on consumer businesses, has acquired Excelligence Learning Corp., a Monterey educational products company. Excelligence serves the pre-K through elementary school markets. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
Name Change: IPC the Hospitalist Inc., a North Hollywood provider of doctors groups to medical facilities, has changed its name to IPC Healthcare Inc. The company’s stock will continue to trade under the IPCM ticker on Nasdaq.
DOWNTOWN LOS ANGELES
Energized: Cambrian Energy Development, a landfill gas-to-energy developer in downtown Los Angeles, has expanded its investment into a majority stake in a Dallas biomethane production facility for $40.6 million. Cambrian acquired the stake in the McCommas Bluff plant from Newport Beach’s Clean Energy Fuels Corp. Terms of the sale include the potential for an additional $3 million in compensation based on the plant’s performance.
Real Estate: Arenda Capital Management and AEW Capital Management have sold a Pasadena retail property for $40 million to Invesco Realty Advisors Inc. The 85,000-square-foot Commons property, at 140-146 S. Lake Ave., was built in 1930 and renovated in 1983. It was 76 percent leased at time of sale.
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