DOWNTOWN LOS ANGELES
Staying Put: Insurance brokerage Sullivan Group has renewed its 28,668-square-foot lease at the Pacific Financial Center office building in downtown Los Angeles at 800 W. Sixth St. Sullivan will continue to occupy the top two floors in a deal valued at $9.5 million. The firm has called the building home since 1987.
WEST LOS ANGELES
New Name, HQ: Law firm Goldberg Lowenstein & Weatherwax is changing its name to Lowenstein & Weatherwax. The firm said the name change comes as it refocuses on its primary practice areas of patent infringement litigation and postgrant patent-office litigation. It is also relocating to 1880 Century Park East.
Facility Expansion: Pasadena’s Jacobs Engineering Group Inc. has been awarded an engineering services contract for an expansion program for a Singapore polyetheramine facility of Hunstman Corp., a Woodlands, Texas, chemical company. The Jurong Island facility will be expanded to handle production of polyethers, used to improve a range of products such as adhesives and plastics, from feed stocks. Financial terms of the contract were not disclosed.
Cleaning Up: Tetra Tech Inc., a Pasadena engineering services company, has signed a definitive agreement to acquire Cornerstone Environmental Group, a Middletown, N.Y., environmental engineering and consulting firm focused on solid waste markets in the United States. Cornerstone has more than 160 employees and approximately $30 million in annual revenue. Financial terms of the deal were not disclosed.
SAN GABRIEL VALLEY
Shot in Arm: City of Hope, a Duarte research and treatment center for cancer and other life-threatening diseases, has reached an agreement with Fortress Biotech, a Burlington, Mass., biopharmaceutical company, to form DiaVax Biosciences. DiaVax will function as a subsidiary of Fortress and work on developing City of Hope vaccines that combat cytomegalovirus infection, which impacts people with weakened or underdeveloped immune systems.
SAN FERNANDO VALLEY
Building Pickup: Joseph M. Levy has acquired a Universal City office building for $3.9 million from Mitchell Bell. The 12,500-square-foot property, directly across from Universal Studios at 3211 Cahuenga Blvd., is fully leased to six tenants.
Industrial Campus: Two adjacent industrial parks that occupy about 5 acres just off Sierra Highway in Lancaster have sold for $4.4 million. The nearly 68,000-square-foot Campus Business Park I and II, consisting of four class B industrial buildings, were purchased by Cal-X Properties in Santa Monica from UDC Properties in Culver City.
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