SAN GABRIEL VALLEY
MONROVIA
Taking Flight: AeroVironment Inc., a Monrovia maker of unmanned aircraft, has won an $11 million contract from the U.S. military for logistics support. The deal covers troop training and spare parts for the company’s 4.2-pound, hand-launched RQ-11B Raven unmanned aircraft system. The company will work with the Army and Marine Corps as well as with allied forces from other nations.
NORTH COUNTY
SANTA CLARITA
New HQ: Precision Dynamics Corp.-St. John is shuttering its Valencia and San Fernando offices to consolidate into new headquarters in Santa Clarita. The maker of health care labels and identification such as patient bracelets has signed a seven-year lease for about 44,000 square feet at the LNR Entrada Gateway Center and plans to move into the building early this summer.
PALMDALE
Chamber Honored: Palmdale Chamber of Commerce’s monthly magazine, Vantage, has been awarded first place by the Western Association of Chamber Executives. The magazine was selected first in its class among chambers in western states with less than 1,000 members. The Sacramento-based association’s selection process included reviewing headlines and copy, editorial content, general design, photos and captions.
CENTRAL AREA
BOYLE HEIGHTS
Project Praised: New Wyvernwood, a Boyle Heights mixed-use redevelopment project by family-owned Miami investment firm Fifteen Group, has won a design award from the Congress for the New Urbanism, a Chicago non-profit that promotes walkable neighborhood-based development. New Wyvernwood earned the non-profit’s Charter Award for being a walkable and sustainable project. The massive Boyle Heights redevelopment calls for 4,400 residential units, 300,000 square feet of office and retail space, 25,000 square feet for civic use and 35 acres of open space.
DOWNTOWN LOS ANGELES
Funding Round: NationBuilder, a downtown L.A. creator of a software platform that lets users build websites and people databases, has raised $6.5 million in Series A funding led by Menlo Park investment firm Andreessen Horowitz. NationBuilder also announced that co-founder Joe Green will take on the role of president.
Hands-On Investment: Oblong Industries Inc., a downtown L.A. startup that creates controllers that allow users to manipulate computer data through gestures, has received funding from two new investors in its Series B round. The new investors are Morgan Stanley Alternative Investment Partners and GE-NRG Energy-ConocoPhillips venture Energy Technology Ventures. The sum raised in the funding round was not disclosed.
SOUTH BAY
EL SEGUNDO
Center Sold: Pacsan Management Corp. has sold an El Segundo retail strip center for $6.85 million to a group of private investors. The 32,749-square-foot property at 215-275 Main St. is fully leased. Several parties bought interests ranging from 5 percent to 58 percent. After the sale, they formed 215 Main LLC to manage the property.
