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Sunday, May 28, 2023

regional report



Moving In: Russell’s Moving & Storage has purchased a 124,000-square-foot land parcel in San Fernando for about $3 million from an undisclosed buyer. Russell’s, which leases space in Pacoima, plans to build a 75,000-square-foot headquarters building on the property, at 1201 Arroyo St.



Site Acquired: AXS.com, the digital ticketing and media platform of downtown L.A.-based sports and entertainment giant AEG, has acquired Examiner.com, an editorial content creation site. AEG said the goal is to use Examiner content related to live events promoted on AXS.

Land Purchase: Forest City Enterprises Inc., a Cleveland real estate services company, has purchased two parcels of land in downtown Los Angeles for $27 million from New York media company Hearst Corp. Forest City plans to develop two residential-retail projects on the properties at 1201 S. Main and 1108 S. Hill streets.


Office Acquisition: Beverly Hills’ Seward Digital Partners has sold a Hollywood office building for $7.6 million to Hollywood’s HQ Entertainment Services Inc. HQ bought the vacant property, at 729 N. Seward St., as an investment. The building was previously home to Funny or Die Inc.


Bottoms Up: Paint & Sip Studio LA, a BYOB instructional and social painting studio, is scheduled to open on Feb. 8. The business, which first appeared in 2012 as the Pasadena Paint & Sip Studio, conducts events in which instructors lead customers through re-creating a selected painting while enjoying wine. Paint & Sip Studio LA is at 351 S. La Brea Ave., just north of the Miracle Mile.



Restaurant Launched: San Diego’s Enlightened Hospitality Group has opened an L.A. outpost of its seafood-focused Herringbone restaurant at the Mondrian Los Angeles hotel in West Hollywood. The 7,500-square-foot location will serve a variety of “surf-and-turf” dishes.


Internet Hookup: Gores Group, a Westwood investment firm, has acquired Zmags Corp., a Boston digital publishing and software company, through its Small Capitalization Partners investment fund. Brian T. Rigney is the newly appointed chief executive of Zmags. Financial terms of the deal were not disclosed.



Oil Contract: Pasadena’s Jacobs Engineering Group Inc. has been awarded an oil sands and plant services contract from Suncor Energy Services Inc., a Calgary, Alberta, energy company. Jacobs will provide maintenance support for the Fort McMurray Base Plant in Edmonton, Alberta.

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