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labusinessjournal.com
LOS ANGELES BUSINESS JOURNAL
THE
Volume 37, Number 36
Up Front
COMMUNITY
BUSINESS
TM
September 7 - 13, 2015 • $5.00
Glass Forges Newest Billionaire
MANUFACTURING: Donald
Friese reaps $1.2 billion from deal.
By HOWARD FINE Staff Reporter
Big-wave surf
pioneer Greg Noll
to auction an
iconic board.
PAGE 3
OF
When Donald Friese joined CR Laurence Co. as
a warehouse worker in 1961 soon after his discharge
from the Army, he was the seventh employee of an
ordinary local glass company.
“At the time, all I had was $125 in my pocket,” Friese
said. “I was just looking for a way to pay the rent.”
He can certainly afford the rent now. After spend-
ing his entire career at the Vernon glass products supplier, becoming sole owner and building it into a global player with 1,700 employees on three continents,
Friese last week sold the company in a deal that
makes him L.A.’s newest billionaire.
In one of the larger deals the glass industry has
seen in years, Friese sold CR Laurence to Oldcastle
Building Envelope, a subsidiary of Irish building
supply giant CRH Group, for $1.2 billion in cash.
He’ll also stay on as CR Laurence’s chief executive
and will get an additional $100 million over the next
Please see MANUFACTURING page 44
High
Time
News &
Analysis
How Aecom’s
engineers plan to
help athletes break
records at the
2024 Olympics.
PAGE 8
If you haven’t been to downtown Los Angeles lately, you might not know that a building boom is underway. Some might say “finally underway,” since the skyline hasn’t been significantly reshaped in a generation.
But in fact, six of the 20 largest construction
projects now underway in Los Angeles County are
taking place downtown. (See The List, page 18.)
One of the biggest projects is the Metropolis, left,
which will become a four-building complex just north
of L.A. Live. It will have a hotel, residences, retail
space and restaurants in 3.5 million square feet.
But the Metropolis, worth $800 million, is not the
biggest project. That would be the $979 million
Wilshire Grand Center at Wilshire Boulevard and
Figueroa Street. When completed in a couple of
years, it will be the tallest building west of Chicago.
You can find out about all the buildings going up
downtown in this photo essay.
BEGINNING ON PAGE 6
Exec
Style
Working for
Esquire magazine
made Guillermo
Zalamea really
think about
fashion.
PAGE 45
RINGO H.W CHIU/LABJ
Cashing Out: Donald Friese at glass products
maker CR Laurence’s office in Vernon.
RINGO H.W. CHIU/LABJ
Penthouse Condo’s Price Floors Rivals
REAL ESTATE: $50 million sale
would set record for L.A. market.
‘Dot-Law’ Name
Still Making Case
By CALE OTTENS Staff Reporter
MAIL TO:
By HANNAH MIET Staff Reporter
If you have $50 million to spend on a home in Los
Angeles and care more about lifestyle and prestige than
acreage, a penthouse in a high-rise might be the ticket.
Unfortunately, it’s taken.
The only penthouse ever to be offered at that price in
Los Angeles has already been reserved via a $1.2 million down payment. The 12,000-square-foot condominium will be the pièce de résistance of the 12-story, 59unit Four Seasons Private Residences Los Angeles, a
Beverly Hills-adjacent condominium project at 9000 W.
Third St., which is around the corner from the Four
Attorneys and law firms are increasingly turning to the Internet to bring in new business, hoping to catch the eyes of potential clients with a
pithy domain name for their websites.
The problem many lawyers face today, however, is that other firms and attorneys have already
gobbled up some of the best dot-com options. But
Culver City’s Minds + Machines Group Ltd.
thinks it has the solution.
The company has begun selling domain names
that end in dot-law to credentialed lawyers and
law firms with registered trademarks. All other
legal practitioners will be able to snag their own
On Way Up: Paul White, left, and Jonathan
Please see REAL ESTATE page 42 Genton at L.A. Four Seasons development.
Please see INTERNET page 43
It’s the little details that are vital. Little
things make big things happen.
- John Wooden
Certified Public Accountants
and Financial Advisors
phone 310.826.4474
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2 LOS ANGELES BUSINESS JOURNAL
SEPTEMBER 7, 2015
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Page 10: Brandon Korff at the L.A. office of social media platform Opinit.
ON THE COVER
MANUFACTURING: Glass products
maker cracks billionaire’s club with sale of
his company, CR Laurence.
INTERNET: Domain-name firm Minds +
AMAG, INC.
Machines Group hopes attorneys and law
Since 1994
firms judge dot-law a good fit.
An Affiliate of A-Mark Financial Corporation Since 1965
REAL ESTATE: Los Angeles moves into a
Loans made pursuant to Department of Business Oversight California Finance Lenders License
new condo era with the $50 million price
FURNITURE: Nova Lifestyle’s gamble on
new products pays off with strong showing
at Las Vegas Market. . . . . . . . . . . . . . . . . . . .9
INTERNET: Sumner Redstone’s grandson
Brandon Korff looks to shape the future
of social media with an emoji-using
review app. . . . . . . . . . . . . . . . . . . . . . . . . .10
Columns & features: Media Watch 10,
Media & Entertainment 12, Silicon Beach
Report 12, Law 13, Advertising & PR 14,
News of the Week 16
tag for a Four Seasons penthouse.
THE LISTS
UP FRONT
NONPROFIT: Cultural center looks to ride
sports history at auction fundraiser with
surfboards from legend Greg Noll. . . . . . . .3
EYEWEAR: Hawkers’ Caleb Garrett hopes
online shoppers give the low-price
sunglasses brand a look. . . . . . . . . . . . . . . . .3
Columns & features: Page 3,
Regional Report 4
RANKINGS: The 50 largest construction
projects in Los Angeles County, ranked
by construction cost. . . . . . . . . . . . . . . . . .18
The 25 largest infrastructure construction
projects in Los Angeles County, ranked by
construction cost. . . . . . . . . . . . . . . . . . . . .21
INVESTMENTS &
FINANCE
Columns & features: Econowatch 37,
NEWS & ANALYSIS
TECHNOLOGY: Texting service Sensay
LABJ Stock Index 38
REAL ESTATE
touts users’ responses as the answer to
competing in the question-assistance field. . . .5
DINING: Expansion is on the table as
DineEquity plans to bring Applebee’s
International into its Glendale office. . . . . .5
CONSTRUCTION: Downtown Los
Columns & features: Real Estate
column 40
EXECUTIVE STYLE
FASHION: Easy does it for HL Group’s
Angeles offers a firm foundation to six of
Guillermo Zalamea when it comes to
the 20 largest projects in the county. . . . . . .6
selecting his wardrobe. . . . . . . . . . . . . . . . .45
SPORTS: Olympics vet and Aecom exec
Bill Hanway talks about the inside track to
COMMENTARY
hosting the 2024 games. . . . . . . . . . . . . . . . .8
ENERGY: Allan Zaremberg would like to
MANUFACTURING: Investors bail out of
drone maker AeroVironment after the firm’s
revenue nose-dives. . . . . . . . . . . . . . . . . . . . .9
see California charge into the creation of a
Western region power grid. . . . . . . . . . . . .46
Columns & features: LABJ Forum 46
Los Angeles Business Journal (ISSN 0194-2603) is published weekly. © 2015, Los Angeles Business Journal. Offices are located at 5700 Wilshire
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changes to Los Angeles Business Journal, PO Box 16825, North Hollywood, CA 91615.
+1 604 278 4604
UP FRONT
SEPTEMBER 7, 2015
Sunglasses
Investor Sees
Bright Future
Fit to Be Recognized
Caleb Garrett says low
price point of Hawkers
wears well with buyers.
Last year, Caleb Garrett
found himself at a club in
Los Angeles sharing a table
with a couple of guys when
one handed him a pair of
sunglasses.
A venture capitalist who
had invested in West
Hollywood alcohol delivery
service Saucey, Garrett wasn’t all that impressed with the
product handed him by Alex
Moreno, chief executive of
Hawkers, an e-commerce
eyewear brand in Barcelona,
Spain. The company’s pitch
is that it produces a line with
trendy designs while keeping
prices low.
But his accountant pointed to the strength of
Hawkers’ sales overseas, and
Garrett reconsidered.
Now, he is the American
partner and creative contributor
behind the line’s U.S. launch.
Hawkers, sold only
online, retail for $20 to $40.
The company has struck
design deals with brands like
Diesel, Dope and MercedesBenz Fashion Week, promoting its lines by calling out
taste makers and culture
Surfboards
To Shore Up
Fundraiser
Surfer Greg Noll gives
items for auction to
benefit cultural center.
Legendary surfer and surfboard maker Greg Noll will
be making another run in Los
Angeles – but not on water.
Noll, who built his boardmaking business in the L.A.
area in the 1960s, is now
based in San Clemente and
in an effort to support that
city’s nonprofit Surfing
Heritage and Culture
Center he provided an 11foot board that he rode in the
Duke Kahanamoku
OYSTER PERPETUAL
YACHT-MASTER
LOS ANGELES BUSINESS JOURNAL 3
Framing Appeal: Caleb Garrett with variety of Hawkers sunglasses.
leaders through Facebook
and Instagram.
“What makes the product
cool is the people wearing
it,” said Garrett.
The idea behind Hawkers
is simple: Everyone should
be able to buy them and
everyone should be able to
rock them. There are two
styles and countless colors
Invitational Surfing
Championship held in Oahu,
Hawaii, in 1967 to an auction
to be held at Culver City’s
Veterans Memorial
Auditorium on Sept. 26.
The center will receive 15
percent of whatever the
board goes for.
Sixty boards, valued
at about $680,000,
were auctioned off at
the last event two
years ago, said Scott
Bass, executive
director of the
California Gold
Vintage Surf
Auction and a
member of the
center’s board.
Bass and his
network of surfing
aimed to fit faces of all
shapes and sizes, said
Garrett, from A-list celebrities to elementary schoolers.
Shoppers on average put
three to four pairs in their
online shopping cart, he said,
figuring that with the low
cost, a lost pair is no big
deal. Not only does Hawkers
pride itself on the price point,
but also on the quality; the
glasses are made in the same
factory as some designer
brands that run into the hundreds of dollars.
Garrett’s takeaway from
the investment that all began
at a club?
“You don’t have to screw
people to have a great product.”
– Grace Goodrich
experts investigate
the authenticity of
boards that people
want to sell, and if
they are sold at auction, the center
keeps 15 percent of
the price, he said.
This year’s event
will be held in Los
Angeles, which Bass
called the center of the
nation’s surfing industry,
and more than 2,000 are
expected to attend.
“We moved the venue to
coastal L.A. as a way to
spread the reach of SHACC
and to make it easier for L.A.
influencers to
Vintage
be involved in
Ride: Greg
Noll’s 1967 the auction,” he
board.
said.
Noll is credited as a pioneer big-wave surfer and is
among the first, perhaps the
first, to surf the dangerous
big waves at Waimea Bay in
Hawaii.
Bass expects the Noll
board to sell for close to
$35,000.
Noll will have two other
boards in the auction, and
the 78-year-old surfing legend is scheduled to attend
the event.
“There’s a definite market
for these boards; it’s just like
fine antiques,” Bass said.
“There’s a certain amount of
lore and heritage and legacy
attached to (the surfers), and
this equipment and the work
that goes into them.”
– Carol Lawrence
When Phillip Maltin
office of Glendora accountagreed to be filmed working firm Vicenti Lloyd &
ing out for a P90X video
Stutzman. But before that,
about eight years ago, he
he was an FBI agent who
never thought he’d become combed the books of such
famous.
organizations as La Cosa
Maltin and Tony Horton, Nostra looking for suspicious activity.
the founder of the popular
exercise regimen, have
While Cooper wouldn’t
trade his experience for anybeen friends for years, he
thing, today he enjoys the
said, and they would regularly work out
relatively predictable – and
together on the
less hazardous –
beach near the
Santa Monica Pier.
schedule of a
partner at a
But sure
regional accountenough, the exercise video went viral
ing firm. That’s a
big difference
and fitness fanatics
from his time at
from all over the
Maltin
country began recthe bureau,
ognizing Maltin everywhere
where he could be shipped
anywhere on a moment’s
he went, he said.
“They’d come up to the
notice – and once because
dinner table,”
of a random
comment.
Maltin said. “It
PAGE 3
usually hapCooper, 62,
pened at least
remembered a
CHARLES
he received
twice a week
CRUMPLEY call
when it first
one evening
came out.”
from his boss
when he was working for
He still gets attention.
Maltin, 56, was hired
the bureau in San Francisco.
last month as a partner in
“He said, ‘Ernie, I didn’t
know you wanted to go to
the Century City law office
Puerto Rico?’” Cooper
of Lathrop & Gage. When
said.
he traveled to the law
That
firm’s home office in
was news
Kansas City, Mo., late last
to Cooper,
month to meet his new
whose forpartners, a staffer asked if
mer
he was the workout guy.
supervisor
“People are just so
had been
into it,” Maltin said. “It’s
assigned
still funny to me how
Cooper
to the
people reach out
FBI’s office in the commonbecause they’ve seen me
wealth’s capital of San Juan.
on the video.”
While he doesn’t have
Then Cooper remembered
he had mentioned to his old
immediate plans to participate in another workout
boss that he liked to travel
video, Maltin said he
and spoke pretty good
Spanish.
wouldn’t mind returning to
the spotlight.
“I called up my buddy
“If asked, I will serve,”
and asked him if he knew
anything about me being
he said.
transferred to San Juan,”
Loose Lips …
Cooper said. “He said, ‘Oh,
Ernie Cooper is a partman, I didn’t think the
ner in the downtown L.A.
bureau worked that fast.’”
Staff reporters Cale Ottens and Matt Pressberg contributed to
this column. Page 3 is compiled by Editor Charles Crumpley.
He can be reached at [email protected].
rolex oyster perpetual
and yacht-master are trademarks.
+1 604 278 4604
UP FRONT
REGIONAL REPORT
News and notes from
communities across
Los Angeles County
pitals and nursing homes, has acquired MidAtlantic ElderCare, which provides medical
care to patients at nursing homes and in
retirement communities. Mid-Atlantic is
based in Woodlawn, Va., but has contracts
with facilities in Virginia, North Carolina
and Tennessee. Financial terms of the deal
were not disclosed.
CENTRAL AREA
DOWNTOWN LOS ANGELES
Stock Repurchase: The board of
Cathay General Bancorp, the downtown
L.A. parent of Chinese-American lender
Cathay Bank, has approved the repurchase up
to 2 million shares of the company’s common
stock. The purchases will be made in the open
market with no set time period.
Seed Round: Happily, a downtown L.A.
developer of a wedding event app, has raised
$600,000 in a seed round from Pipeline
Fellowship, a syndicate of women angel
investors who back women-led companies.
The Happily app helps couples plan weddings, providing checklists, email reminders,
tips and contact information for event planners and other personnel.
WESTSIDE
SANTA MONICA
Game On: Activision Blizzard Inc., a Santa
Monica video-game company, has joined the
S&P 500, becoming the second video-game
publisher to join the benchmark index. The
S&P 500 index tracks 500 large companies that
trade on the New York Stock Exchange and
Nasdaq that are selected by a committee and
represent a diverse group of industries.
Electronic Arts of Redwood City is the other
video-game company in the S&P 500.
Money Scored: Super League Gaming
Inc., a Santa Monica electronic gaming firm that
sets up live competitions at movie theaters, said it
SEPTEMBER 7, 2015
CORRECTION
An item in the Aug. 31 Real Estate column headlined “Beijing Buyer Has Faith
in Former Church Campus” misidentified
the headquarters location of Palisades
Capital Partners. It is Beverly Hills.
Beverly Hills: Retail property sold for $40 million by Engine Real Estate Services.
has closed a Series B funding round including
national chain Cinemark Theatres as well as
Singapore and Hong Kong institutions. The
amount raised was not disclosed. Super League
has partnered with national chains Cinemark,
Regal Entertainment Group and AMC Theatres as
well as luxury chain iPic Theaters to stage videogame competitions using the theaters’ big screens.
BEVERLY HILLS
Retail Purchase: Engine Real Estate
Services has sold a Beverly Hills retail building for $40 million to Harbor Group
Management and Image Capital. Engine
bought the 13,952-square-foot property, at
357 N. Beverly Drive, in December 2013 for
$22 million. Fashion brand COS has a longterm lease for the building.
TRI-CITIES
BURBANK
Office Acquisition: UBS Realty
Investors of Hartford, Conn., has purchased a
portfolio of two Burbank office buildings for
$80 million from downtown L.A.’s CBRE
Group Inc. The buildings, at 2400 and 2350
Empire Ave., total nearly 230,000 square feet
and are fully leased.
SAN FERNANDO VALLEY
NORTH HOLLYWOOD
Checked In: IPC Healthcare Inc., a
North Hollywood supplier of doctors to hos-
Regional Report
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Report submissions should be e-mailed to:
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Business news from companies in Los
Angeles County or nearby areas is listed on
the page. Please be sure that press releases
specify the name of the city and the name of
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the news. Submissions are evaluated on the
basis of company size and the significance
of the announcement. The Business Journal
tries to include as many listings as possible,
but some may not be published due to
space limitations.
Please address all inquiries to the e-mail
address above. If you do not receive a
response in a timely manner,
call (323) 549-5225, ext. 223.
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SEPTEMBER 7, 2015
NEWS & ANALYSIS
the information.
Jalali essentially offered the president the
opportunity to join the platform and answer
questions, relying on his expertise, though
Jalali phrased it as a “gig.” Obama didn’t take
him up on the offer.
Sensay’s team has been working out of
Amplify.LA’s Venice headquarters since
February after moving out of Cross Campus.
The six-person company raised more than $1
million in a January preseed round from several firms including Amplify and Greycroft
Partners in downtown Los Angeles. Jalali
said he and co-founder Crystal Rose hope to
close a larger seed round before
Thanksgiving.
Dialed In: Ariel Jalali, left, and Crystal Rose at question-and-answer platform Sensay’s headquarters in Venice.
Humanity on Line
TECHNOLOGY: Sensay links up its users with each other to
answer questions as way to compete with AI-powered apps.
By OMAR SHAMOUT Staff Reporter
W
President Barack Obama visited Santa Monica co-working space
Cross Campus in October to discuss the startup economy, it gave Venice entrepreneur Ariel Jalali an idea for how to promote Sensay, his new on-demand help service.
Jalali offered Obama a job, generating press
coverage and getting the word out about his
anonymous text messaging company, which he
said caused a surge of 10,000 signups.
“When you’re a startup founder with a
marketing budget of zero, you do everything
HEN
you can to get your name out there,” said
Jalali, Sensay’s chief executive.
Sensay’s service, which is centered on
conversations with other humans, albeit
anonymous ones, is up against a growing
number of similar tools that rely on artificial
intelligence, or AI, to find answers to targeted
questions. Think of Apple Inc.’s Siri, Google
Inc.’s Now or Microsoft Corp.’s Cortana.
“People have always wanted this computer
you talk to that gives you answers,” said
David Waxman, a co-founder and managing
partner at Century City seed investment firm
TenOneTenVentures, which focuses on data-
driven startups. “AI is surging forward by
leaps and bounds.”
After a formal beta launch in January,
Jalali declined to disclose how many people
are using Sensay now, though he claimed a
half-million messages have been sent in the
form of questions and answers to topics such
as where to buy Coachella tickets and lastminute suggestions for wedding photographers. Queries are sent to Sensay’s platform,
from which they are routed to users qualified
to answer them based on information they’ve
given to Sensay. Responses are texted back
via Sensay, which anonymizes the source of
Hybrid model
Sensay is by no means alone as an entrant
to the on-demand help sector that combines
artificial intelligence and human interaction to
deliver results.
Facebook Inc.’s M, announced in late
August, is a virtual assistant within its
Messenger app that allows users to message
Facebook for help completing a task, including financial transactions and finding information. What differentiates M is that it combines machine learning by culling data from
its billion-user platform with human curation.
“It’s powered by artificial intelligence
that’s trained and supervised by people,” said
David Marcus, Facebook’s vice president of
messaging products, in an Aug. 26 status
update announcing that the company had
begun testing the feature.
But Jalali and Rose, who met while working at L.A. marketing firm Phenomenon, are
betting that people would rather have a more
intimate chat experience than what they might
get with M, which in turn could generate
more personalized recommendations.
“When you want a conversation with a
robot you can use those platforms,” Jalali
said, noting that Sensay will soon be available
within third-party chat apps such as
WhatsApp and Line.
“Sensay facilitates human conversations,”
added Rose, the company’s chief marketing officer. “We love conversation because the best
answer to a question is usually another question.”
Jalali and Rose also see the potential in
facilitating consumer purchases. Though it’s
free to use now, Sensay plans to monetize in
several ways, among them linking to products
mentioned in conversations within the chat
window so users can make purchases. Sensay
would take a cut of each transaction. Jalali
said about 20 percent of conversations involve
some sort of asset, such as an item or website,
which could potentially be commoditized.
It also wants to offer merchants the ability
Please see TECHNOLOGY page 44
Expansion on Tap as Eatery Operator Consolidates
DINING: DineEquity plans
to move Applebee’s unit
into Glendale headquarters.
By OMAR SHAMOUT Staff Reporter
Restaurant operator DineEquity Inc. said
Thursday that it would move the headquarters
of its Applebee’s International Inc. chain
from suburban Kansas City, Mo., to its
Glendale corporate home.
The consolidation into its offices at 450 N.
Brand Blvd. will involve some layoffs.
Applebee’s employs roughly 220 in the
Kansas City area. Of those, about 80 to 90 people will stay put, consisting of workers in its
backend support, help desk, guest relations and
accounting departments. Only 10 percent to 20
percent of the remaining employees will be
offered the chance to relocate to Glendale,
according to Kevin Mortesen, DineEquity’s
vice president of communications, who emphasized the final tally is still being determined.
Applebee’s President Steven R. Layt will
not be making the move to Glendale and has
opted to resign, the company said in a statement.
Julia A. Stewart, DineEquity’s chairwoman
and chief executive, will serve as Applebee’s
interim president in addition to her current
responsibilities, according to the statement.
DineEquity, which franchises some 3,600
restaurants in 18 countries, employs 525 people. It also owns IHOP Corp., which is based
in its Glendale office as well. As of June 30,
DineEquity operated just 36 restaurants.
Mortesen said DineEquity may opt to rent
out more office space in a nearby building
and plans to hire employees locally.
“This move best positions the company
to act as a nimble, effective and efficient
force for the future,” Stewart said in the
statement. “Consolidating most brandcentric, franchisee and consumer facing aspects
of Applebee’s is an important step in that
direction. While there will be some costs
associated with this, we remain fully committed to returning substantially all of our
free cash flow to shareholders.”
DineEquity said in the statement that it
expects the move to cost the company $13 million before taxes through fiscal year 2016,
which comes in the form of lease and facility
costs, plus severance packages and other personnel expenditures.
Mortesen said the decision to move out of
DineEquity Inc.
(NYSE: DIN)
FRI. CLOSE, PAST 5 WKS
Glendale
104
CEO: Julia A. Stewart
102
Employees: 525
100
98
Market Cap: $1.8 billion
P/E: 35
EPS*: $2.71
*Twelve months trailing.
Sept. 2: $94.65
96
94
7/31 8/7
8/14
8/21 8/28
Source: Yahoo Finance
Kansas City was not driven by economic
motives.
“It’s a strategic play,” he said. “By having
those functions nearer to the brand it will inspire
more collaboration and more integration.”
He declined to disclose the exact timing of
the move other than to say the company will
take a phased approach.
+1 604 278 4604
NEWS & ANALYSIS
SEPTEMBER 7, 2015
High
Time
Photos by RINGO H.W. CHIU
D
OWNTOWN Los Angeles, its handful of towers rising
from a sea of urban sprawl, is in the midst of a
building explosion that will reshape a skyline that
has been relatively static for a generation.
Six of the 20 largest construction projects underway in
Los Angeles County – including three of the top four – are
coming out of the ground between First Street and Pico
Boulevard, representing more than $3 billion in construction
activity. (See The List, page 18.)
Largest among them is the Wilshire Grand Center, a
$979 million office, hotel and retail project being developed
at 930 Wilshire Blvd. by Hanjin International Inc., parent of
Korean Air, that was designed by L.A.’s A.C. Martin
Partners and is being built by Turner Construction Co.
Notable not just for its price tag, the 1.7 million-square-foot
tower will be the tallest building in the West, surpassing
downtown’s U.S. Bank Tower, when it is completed in 2017.
The second-largest noninfrastructure project underway
in the region is the $800 million Metropolis, a four-building
complex of residential, hotel, restaurants and retail being
built in two phases at 899 S. Francisco St. by Chinese
developer Greenland Holdings. Designed by Harley Ellis
Devereaux and Gensler, and built by Webcor Builders and
Pankow Penta Builders, the 3.5 million-square-foot project broke ground in July of last year. Its first phase should
be completed next year, with Phase 2 wrapping up two
years later.
Metropolis reflects the dominant focus of the large projects under construction downtown: Of the six, just Wilshire
Grand and the Los Angeles Federal Courthouse, a $292 million, 633,000-square-foot building designed by Skidmore
Owings & Merrill at First and Broadway (No. 12 on the list),
have significant office components. The courthouse is being
built by Clark Construction.
The other big projects reflect both the demand for residential, retail and hospitality uses downtown. By contrast,
there is a persistent glut of office space in the area; the
vacancy rate stood at 18.3 percent at the end of the second quarter.
“This is the most construction activity we’ve had in
many, many years,” said John C. Cushman III, co-chairman
of Cushman & Wakefield Inc. and a leading presence in
downtown real estate since the construction of Arco Plaza
on South Flower Street in 1967. “It’s being driven by the
residential side of the coin. Residential and hospitality.”
Hotel construction, he said, largely reflects the pressing
demand for guest rooms to serve the Los Angeles
Convention Center, which he noted has been underserved
for years.
After Metropolis, the next-largest project downtown is
Oceanwide Plaza (No. 4), a 2.5 million-square-foot project
of 504 residences and 183 hotel rooms. The $700 million
development, on a 4.6-acre Figueroa Street site just east
of Staples Center, is the first U.S. project from Beijing
developer Oceanwide. Designed by RTKL, it is being built
by LendLease.
The only downtown project that is the product of a local
development team is Circa (No. 9), a 1.6 million-square-foot
project of two 35-story residential towers at 1200 S.
Figueroa. The development, from joint-venture partners
Hankey Group and Jamison Partners, also includes retail
and parking. It is designed by Harley Ellis Devereaux and
HansonLA, and is also being built by LendLease.
Rounding out the largest projects downtown is
Ratkovitch Co.’s Bloc (No. 18), a mixed-use hotel and retail
redevelopment of the once-and-future Macy’s building at
700 S. Flower. The $180 million project, slated to be completed this year, was designed by Studio One Eleven and is
being built by Webcor.
– Jonathan Diamond
Wilshire Grand Center at 930 Wilshire Blvd.
Circa project across from Staples Center.
Rendering of Circa residential
towers at 1200 S. Figueroa St.
Ratkovitch Co.’s Bloc hotel-retail
redevelopment at 700 S. Flower St.
+1 604 278 4604
SEPTEMBER 7, 2015
NEWS & ANALYSIS
Oceanwide Plaza dig site on Figueroa Street.
Rendering of Oceanwide Plaza.
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NEWS & ANALYSIS
SEPTEMBER 7, 2015
Olympics Vet Talks How to Engineer Run at Games
by swimmers) and the depth and the edge
conditions (can be adjusted to help athletes
swim faster). That’s the part that’s interesting
at a minutiae level. So we work closely with
the federations to make sure we’re taking
advantage of the newest technology.
SPORTS: Bill Hanway sees
even LAX helping get bid
by Los Angeles off ground.
By JAMES RUFUS KOREN Staff Reporter
A
the global sports leader – yes, that’s
a real title – for L.A. architecture and
engineering giant Aecom, Bill Hanway
worked on the 2012 London Olympics and is
still working on Rio 2016 and Tokyo 2020,
helping cities plan and prepare for the games.
Now, on top of his ongoing work for those
events, he’s working with LA2024, the group
pushing for Los Angeles to be the home of the
2024 Summer Olympics. While most of the public attention paid to the bid is focused on the
cost of the games and the venues that would
need to be developed for them, Hanway knows
there’s much more to planning a successful
Olympics – from making sure there are enough
food vendors to doing everything possible to
help athletes break records. Because he’s working on the L.A. bid, he can’t comment on competing cities Paris; Rome; Budapest, Hungary;
and Hamburg, Germany – that’s a no-no under
International Olympic Committee rules.
Instead, Hanway spoke with the Business
Journal about what challenges the L.A. bid
could face and the less obvious factors that go
into planning the games.
How does L.A. compare to other bidding
cities in terms of what we would need to
build to host the games?
S
Question: There’s a lot of focus on stadiums and transportation and other things
that need to be built for the Olympics,
but what are the things you look at, and
plan for, that the rest of us don’t notice?
Answer: We want everyone to focus on enjoy-
ing the event and enjoying the city. Anything
that distracts from that is something we try to
Game On: Aecom’s Bill Hanway at
Olympic Stadium in London.
minimize. We want to minimize the amount of
time it takes for someone to get into a venue,
make sure we have enough shade areas so people are comfortable, that they’re not waiting too
long for food. We want to make sure people are
focused on the fun instead of any hassle that
might be associated with it.
What about the games themselves – the
athletics?
We love when athletes break records. That’s
one of the most exciting parts. So there’s a lot
of planning around make sure athletes have
every advantage.
What kind of advantages? How does
that work?
So, we want to make sure the athletic track
will be the fastest ever built, that pools will be
the fastest. In swimming, for example, there’s
technology constantly being developed where
you eliminate the benefit of being in an inside
lane or an outside lane. Rebound walls and
lane dividers (that absorb the wakes created
We’re not allowed to comment on competing
cities, but from working on London, Rio and
Tokyo, L.A. is by far the best positioned of any
city I’ve ever worked on in terms of sporting
venues that are available. There are even options
for venues for a majority of the major sports.
looked at. We’re looking at how we adapt a
successful games to that constraint.
Angelenos seem to support hosting the
games, at least according to U.S. Olympic
Committee polling, but that could change.
How big a factor is public buy-in?
There’s always a level of healthy skepticism,
especially this far out. There’s a mythology
that follows on from numbers suggested by the
cost of the Sochi Olympics. But L.A. is comfortable holding major events. It’s part of the
DNA of the city. There’s more natural comfort
and the legacy of 1984 is still fresh. All that
would lead to L.A. having an advantage.
What puts L.A. at a disadvantage?
What about other infrastructure?
It’s interesting to separate out what’s necessary for the games and what’s needed for
L.A. as it grows into a powerhouse of a city.
For example, Los Angeles International
Airport has historically had a challenging reputation, but investment there is going to make
LAX one of the best destinations to fly
through. So something that’s always been a
possible criticism will be completely transformed by 2024.
London won the 2012 games long
before the financial crisis; Rio won the
2016 games in 2009 and, with the
games a year away, Brazil has slipped
into recession; L.A. is bidding on the
2024 games during a historic drought.
How do you plan ahead for the
unknowable?
For London, no one could have predicted
what happened in 2008, but we had some
contingency built in. That kind of approach is
going to have to inform our strategy. Water is
one critical issue that’s going to need to be
The biggest criticism is that L.A. will have
had it for a third time if it hosts 2024, though
London broke that with 2012, making it the
third time. That’s an issue with the IOC, and
it’s something we will have to overcome.
There’s also the mythology that it’s impossible to drive anywhere, that LAX is a challenge – all that is part of the work we have to
do in our messaging.
Problems always crop up just before the
games start, whether it’s security concerns in London or unfinished hotels in
Sochi. How do you avoid that?
The biggest advantage in L.A. is that so many
venues are built and ready to go. The idea you
need to rush to complete venues and facilities,
it will not be a challenge for Los Angeles.
What’s your favorite event to watch in
the Summer Olympics?
Strangely, I have a fascination with weightlifting. That’s one I certainly enjoy. It’s such a
pure thing. You’re one person and how much
weight can you move?
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SEPTEMBER 7, 2015
NEWS & ANALYSIS
Shares Tumble After Drone Maker Misses Targets
MANUFACTURING: Stock
of AeroVironment also hit
by electric charger unit.
By MARNI USHEROFF Staff Reporter
Drone maker AeroVironment Inc.’s sales
lost altitude last quarter, making investors
unhappy with its low-flying performance.
The Monrovia firm, which also makes electric vehicle chargers, last week reported revenue of $47.1 million for its first fiscal quarter
ended Aug. 1. That was 9.3 percent lower than
the same period the previous year. Overall,
AeroVironment saw a net loss of $6.98 million
(minus 30 cents a share) for the quarter, which
widened by 93 percent from a year earlier.
At 30 cents a share, the loss exceeded
analysts’ expectations of a 14 cents-a-share
loss. Revenue, too, was below an anticipated
$53.9 million.
The news sent AeroVironment’s stock price
into a tailspin Sept. 2, shedding 9 percent to
close at $21.26 after the previous day’s earnings release. Shares fell 9 percent in total for
the week, making the firm one of the biggest
losers on the LABJ Stock Index (See Page 38.)
The shortfall in revenue was largely due to
two orders being pushed into the second fiscal
quarter and continued weakness in
AeroVironment’s electric vehicle-charging
products segment, Troy D. Jensen, an analyst
for Piper Jaffray & Co. in Minneapolis, wrote
in a research note.
The firm’s electric vehicle products still
make up a small part of its revenue, bringing in
$6.88 million last quarter, down 36 percent
from the same period the previous year. By
comparison, the firm’s revenue from drone
sales dropped by just 2.5 percent to $40.2 million over the same period.
Despite the disappointing quarter, Chief
Executive Timothy E. Conver said in a conference call last week that AeroVironment is
on track for its annual plan.
“Our core business is strong and we are
making meaningful progress across our growth
portfolio designed to drive significant stockholder value,” he said during the call.
Jensen also remains optimistic about
AeroVironment’s technology and positioning in
the emerging unmanned aerial vehicle market.
“The company’s core (unmanned aircraft
systems) business continues to see strong
demand from domestic customers and is
( Nasdaq: AVAV)
AeroVironment Inc.
27
Monrovia
26
CEO: Timothy E. Conver
25
Employees: 663
24
Market Cap: $484 million
23
Sept. 2: $21.26
P/E: N/A
22
21
EPS*: $-0.02
7/31 8/7
8/14
8/21 8/28
beginning to see growing interest from international allies,” he wrote in his note.
Jensen was encouraged as well by
AeroVironment’s addition of commercial drone
services and other growth initiatives that are
starting to show some traction. But, he added,
those growth opportunities won’t contribute
meaningfully to revenue for another year or two.
Furniture Maker
Sits Pretty After
Market Showing
By SUBRINA HUDSON Staff Reporter
Buyers liked what Nova Lifestyle Inc. was
selling at last month’s Las Vegas Market, a
major trade show for the furniture industry.
Trade publication Furniture Today even named
one of the Commerce manufacturer’s pieces
one of the hits of the show.
That news helped boost Nova’s stock price
last week, and perhaps showed that money
spent on designing and marketing new products was worth a financial hit last quarter.
Nova LifeStyle Inc.
(Nasdaq: NVFY)
Commerce
Employees: 522
Sept. 2: $2.30
Market Cap: $55.24 million
EPS: $0.30
2.3
2.2
2.1
2.0
P/E: 8
1.9
7/31 8/7
8/14
HELPING
TECH + BIOTECH
SUCCEED.
2.5
2.4
CEO: Jeffrey Wong
His passion?
8/21 8/28
Nova shares jumped 19 percent for the
week ended Sept. 2 to close at $2.30, making
it one of the top gainers on the LABJ Stock
Index. (See page 38.) The gains helped erase
some of the losses Nova stock suffered during
last month’s market correction and after a second-quarter earnings report that showed the
company swinging to a loss.
At Las Vegas Market, Nova showed off
more than 40 new designs from its midcentury
collection under its furniture label Diamond
Sofa. It also showcased its newly created
Smart Health Bed from its Smart Health
Furniture line, which is able to monitor, record
and deliver data directly form the bed to key
medical care providers.
All of those new products help explain why
Nova, despite growing sales, lost money in this
year’s second quarter after being profitable in the
same period last year. The company reported sales
of $29 million for the quarter, an increase of 13
percent from the year-ago period, but it posted a
net loss of $140,000, compared with net income
of $3.4 million in last year’s second quarter.
Tawny Lam, Nova’s president, pointed to
the company’s growing list of new products –
and the marketing push to get those products
into stores – as the reason for the dip in profits.
“We had to compromise margin a bit to gain
more square footage in retail stores,” she said.
The move, she added, has helped as Nova
has seen greater attention from retailers, especially in the Midwest, a market the company
initially had a hard time penetrating.
Nova Lifestyle, founded in 2003, operates
furniture manufacturing plants in China that
produce products sold by Nova, furniture
retailers and Swedish furniture giant Ikea.
As a former tech entrepreneur, Scot is
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companies in their negotiatations for the
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West Los Angeles
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tel: (310) 277-3211
www.hughesmarino.com
LOS ANGELES
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T E N A N T R E P R E S E N TAT I O N | C O N S T R U C T I O N M A N A G E M E N T | L E A S E A U D I T S E R V I C E S | L E A S E A D M I N I S T R AT I O N
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NEWS & ANALYSIS
SEPTEMBER 7, 2015
MEDIAWATCH
MOVIE BOX OFFICE
Rank
1
2
3
4
5
6
7
8
9
10
Title
Straight Outta Compton
War Room
M:I Rogue Nation
No Escape
Sinister 2
Man From UNCLE
Hitman: Agent 47
Ant-Man
Jurassic World
Gift
Weekend Gross
(millions)
$13.1
11.4
8.2
8.1
4.7
4.4
4.2
3.1
3.0
3.0
Total Gross
(millions)
$134.0
11.4
170.2
10.2
18.5
34.1
15.6
169.2
643.0
35.8
Distributor
Universal
Sony
Paramount
Weinstein Co.
Focus
Warner Bros.
20th Century Fox
Disney
Universal
STX
Weekend ended Aug. 30
Source: Rentrak
PRIMETIME TV SHOWS
Rank
1
2
3
4
5
Program
America’s Got Talent (Tue.)
60 Minutes
NCIS
America’s Got Talent (Wed.)
Big Bang Theory
Network
NBC
CBS
CBS
NBC
CBS
Week ended Aug. 30
Rating*
6.2
5.6
5.4
5.3
4.8
Reviews In: Paolo Fidanza, left, Brandon Korff and Qualid Ladraa at L.A.’s Opinit.
*Each rating point equals 1.1 million homes
Source: Bloomberg News
CABLE TV SHOWS
Rank
1
2
3
4
5
Program
Fear the Walking Dead
Rizzoli & Isles
NFL Preseason (Cincinnati vs. Tampa Bay)
Video Music Awards
WWE Raw (9 p.m.)
Network
AMC
TNT
ESPN
MTV
USA
Week ended Aug. 30
Rating*
4.4
3.0
2.9
2.8
2.4
INTERNET: Grandson of
*Each rating point equals 1.1 million homes.
Source: Bloomberg News
TOP SELLING ALBUMS
Rank
1
2
3
4
5
Last Week
New
1
3
New
2
Artist
Disturbed
Luke Bryan
Dr. Dre
Kip Moore
Ed Sheeran
Title
Immortalized
Kill the Lights
Compton
Wild Ones
X
Label
Reprise
Capitol Nashville
Aftermath
MCA Nashville
Atlantic
Source: Billboard.com
DVD RENTALS
Last Week
2
1
New
4
3
Title
Get Hard
Divergent: Insurgent
Hot Pursuit
Longest Ride
Paul Blart: Mall Cop 2
Distributor
Warner Bros.
Lions Gate
New Line
20th Century Fox
Sony
Week ended Aug. 23
Source: Rentrak
DVD SALES
Rank
1
2
3
4
5
Last Week
2
New
1
New
New
Title
Home
Disney Short Films
NCIS: 12th Season
Once Upon a Time: Fourth Season
Distributor
Paramount
Disney
Lions Gate
Paramount
Paramount
Suggested Retail
$29.98
29.99
29.95
55.98
45.99
Week ended Aug. 23
Source: Rentrak
VIDEO ON DEMAND
Rank
1
2
3
4
5
Last Week
1
2
3
4
5
Title
Hot Pursuit
Home
Unfriended
Kingsman: Secret Service
Week ended Aug. 23
Sumner Redstone looks to
shape up review app Opinit.
By SANDRO MONETTI Staff Reporter
Week ended Sept. 4
Rank
1
2
3
4
5
Media Mogul’s Scion Sees
Emojis as Sign of Times
Distributor
Warner Bros.
Lions Gate
Paramount
Universal
20th Century Fox
Source: Rentrak
OUTTAKE OF THE WEEK
PRAYERS
ANSWERED
Sony Pictures is shouting
“Hallelujah!” with the boxoffice performance of
“War Room,” featuring
Karen Abercrombie, left,
and Priscilla C. Shirer. The
Christian-themed release,
made for about $3 million,
pulled in $11.4 million its
first weekend.
For Brandon Korff, entertainment is the
family business. A grandson of CBS and
Viacom Inc. chairman Sumner Redstone, he
learned the trade working at his billionaire forebear’s companies, including MTV Networks.
Now, he’s forging his own path, trying to use
what he learned working for grandpa to launch
a product he believes can revolutionize social
media: a new mobile platform that allows users
to express themselves purely through emoji –
perfect for anyone who finds writing 140 characters on Twitter just too demanding.
Korff was recently hired as a strategic
adviser to Opinit, an L.A. startup that lets
users rate shared content, such as film clips,
articles, photos and music, by using smiley
faces, scowling devils and other emoticons.
“In today’s fast-paced world, speed of communication is a must and emojis are a way to
quickly communicate an emotion without
elaborating with words,” Korff said. “I think it
can be huge.”
Though he’s just 31, Korff, a West
Hollywood resident, has already spent time
working as director of corporate development
at Redstone entertainment company National
Amusements Inc., which operates movie theaters and other venues, and as director of music
and artist development at MTV Networks, a
Viacom subsidiary.
In 2011, Korff struck out on his own, cofounding real estate company Panoply
Properties. Panoply, which has amassed a significant portfolio in the Miami area, is now
looking to Los Angeles as the next part of its
growth strategy, Korff said. The firm is exploring local markets including Venice, Silver
Lake and downtown L.A.’s Arts District.
In the meantime, he is also exploring early
stage investment opportunities. He wouldn’t
disclose if he’s invested in Opinit but does have
an equity position in the startup.
Though Korff’s name and connections
could help fledgling Opinit, the startup’s cofounders, Paolo Fidanza and Qualid Ladraa,
said they hired Korff not because he’s a
Redstone scion but because they were
impressed by his marketing and production
experience in engaging young audiences.
“Brandon has a background in creating and
delivering compelling content and understanding consumers,” said Fidanza, who believes
Korff can “really help us grow this platform
into the MTV of the digital world and become
the next big story on the level of Twitter,
Snapchat or Instagram.”
Building identity
Korff wouldn’t address any questions about
his grandfather, other than sharing basic advice
Redstone has given.
He also declined to comment on what role
he or his media executive mother, National
Amusements President Shari Redstone,
might have in running his grandfather’s media
holdings once the 92-year-old passes away.
“Right now, I am very focused on building
my own identity,” Korff said. “Nobody can
speak to the future but I am currently working
with startup companies like this one and on
developing my real estate business.”
But he said the knowledge he gained
working for National Amusements and
MTV, and from growing up in a media family – he’s not only the grandson of a media
tycoon, but also the son of Yitzhak Korff,
publisher of Boston’s Jewish Advocate
newspaper – can help make this app,
launched in July, a success.
At MTV, he created revenue streams by
expanding the network’s music content acquisitions business and establishing a music library,
which he then marketed to other networks.
At National Amusements, Korff took
charge of developing and launching Showcase
Live, a supper club and music venue in Boston.
Now, with Opinit, he plans to use his
celebrity and social influencer contacts, none
of whom he would name, to help grow the
app’s audience and steer attention to the content being shared and rated.
“My grandfather has always said content is
king, and Opinit allows for new content to be
published and old content to be rediscovered
by users who can express their emotional reactions to it,” said Korff, who said he recognized
the app’s potential when first approached by its
co-founders during the development stages.
Opinit, backed so far by investment from
Fidanza and Ladraa and their friends and family,
is available for free download from the App
Store on iTunes and the company’s business plan
is to eventually introduce advertising and new
features as the app’s number of users grows.
The company, which has a staff of four, not
including Korff, says its target audience is
between the ages of 16 and 27, mainly female,
and that the app is averaging 150,000 daily views.
“A fast-learning and early adopting audience like ours is very trend driven,” said Korff,
who feels the trend for using emoji in social
media will be a trump card for Opinit.
+1 604 278 4604
+1 604 278 4604
NEWS & ANALYSIS
SEPTEMBER 7, 2015
‘Business Hour’ Program Venture Capitalists Share
Dials Up New Title, Focus In Stock Market Unease
RADIO: ‘Money Hour’ at
INVESTMENT: Turmoil puts
KNX also adds co-host to
cover wider range of topics.
focus on high valuations of
institution-backed firms.
L
HE global stock market upheaval of the
last several weeks is causing many tech
venture capitalists to consider the effect
of public market volatility on private investments, particularly late-stage valuations,
which have been driven up by institutional
funds entering the market.
One of those concerned is Mark Suster,
managing director of Santa Monica’s Upfront
Ventures, whose investments include multichannel networks Maker Studios and MiTú,
among others.
.A.’S best-known radio business program has undergone a format and title
change after management upheaval.
“The Business Hour” on CBS affiliate
KNX-AM (1070) news radio has been retitled
“The Money Hour” and given a wider focus
to target consumers as a whole rather than
mainly executives and investors.
MEDIA &
ENTERTAINMENT
SANDRO
MONETTI
T
Looking Up: Rooftop Film Club event on
Hollywood’s Ricardo Montalban Theatre.
expansion plan starts with this soft launch in
L.A., where we aim to initially break even, and
have customers and potential sponsors sample
our comfortable service so we can come back
to Hollywood bigger and better next summer.”
Movie History
Leonard Nimoy’s Mr. Spock costume,
Johnny Depp’s “Pirates of the Caribbean”
sword and a “Star Wars” Stormtrooper helmet
are all being auctioned in a giant sale organized by Chatsworth memorabilia specialist
Prop Store.
The 450 lots, including items from the
“Terminator,” “X-Men” and “Back to the
Future” films, can be viewed on
PropSstore.com. The live auction, which will
be held in London on
Sept. 23 and will accept
bids in person and online,
is expected to fetch more
than $1.5 million.
Meanwhile, presenter Frank Mottek, who
had hosted the show alone for eight years, has
been given a co-host, a move that brings the
business program in line with the two-host
format of other shows on the station. Charles
Feldman, a veteran KNX investigative
reporter who was previously with CNN, is
now fronting “Money Hour” with Mottek.
The show still airs at 1 p.m.,
right after the closing bell on
Wall Street, but the topics of discussion are now more concerned
with the local housing market,
school fees and 401(k) accounts
than with stock prices.
Future Hits
The changes, implemented
Hit House, a Torrance
Aug. 17, were instigated by new
company that makes
Program Director Ken Charles.
music for film trailers, TV
He’s two months into his job at
commercials and videothe 24-7 news channel, which has
game marketing camsuffered small ratings declines
paigns, has big expansion
over the summer months.
plans in this its 10th year.
KNX ranks 15th in the L.A.
Co-founders Sally
radio market, with a 2.7 percent
House and Scott Miller
share of all audiences, accordare preparing their firm to
ing to ratings firm Arbitron.
launch its own record
The station had a 3 percent
label, releasing albums by
share in May.
L.A.-area artists performThe changes in the show are Heads Up: Stormtrooper
ing songs written by inunlikely to be radical enough to helmet up for auction.
house composers.
drive away established advertisers,
Hit House, which has a
according to listener Michael Terpin, founder staff of 12 and clients including Netflix,
of Santa Monica marketing company Social
Google and Porsche, would not discuss speRadius, who said, “If it’s the same host and a cific financial information but claims five
mild change in format, the same audience can straight years of increased revenue.
generally be maintained.”
DNA Directors
Cinema in Sky
Seeing client Cameron Duddy win an
Outdoor screenings under the stars of clas- MTV Video Music Award last week for
sic movies are nothing new to Los Angeles,
directing the Bruno Mars and Mark Ronson
but a British company has moved in on
video to “Uptown Funk” was another triumph
Hollywood’s turf, aiming to beat the locals at
for David Naylor & Associates, a
their own game with screening series
Hollywood company that represents directors
Rooftop Film Club, which started in London of commercials and music videos.
four years ago.
The firm’s fast-growing client list also
Instead of bringing their own chairs and
includes major movie directors such as
picnics, guests are provided with folding deck Francis Lawrence, who made the last three
chairs and complimentary blankets, and can
“Hunger Games” films, and Marc Webb,
buy snacks from a range of vendors, includwho helmed the two recent “Amazing SpiderMan” movies.
ing gourmet local burger firm Hache LA.
The recently launched four-films-a-week
PR Hire
series will continue through Sept. 19 on the
L.A. public relations firm the Lippin
rooftop of Hollywood’s Ricardo Montalban
Group has hired David Gardner as senior
Theatre. Rooftop charges $15 for admission,
sells sponsorships, and also takes a cut of rev- vice president. As well as working in popular
culture, Gardner is an unabashed fan of it and
enue from food and drink vendors.
Rooftop was founded by Gerry Cottle Jr, has a prized personal collection of 40,000
comic books.
the son of British circus impresario Gerry
Cottle Sr.
Staff reporter Sandro Monetti can be reached
“I ran away from the circus to launch this
at [email protected] or (323)
idea,” the younger Cottle said. “Having had
549-5225, ext 226.
success with it in Britain, the international
Money Matters: Peter Lee at office of
Baroda Ventures in Beverly Hills.
“The one thing that has become clear to
me over the last couple of months is the skepticism that many late-stage VCs (and limited
partners) have had about late-stage valuations,” Suster wrote in an Aug. 24 blog post.
“Deals have been massively marked up by
late-stage investors. But many of these (75
percent in the case of unicorns) are not led by
traditional VCs.”
For an example of this, look no further
than Venice’s Snapchat. In May, the
ephemeral messaging app and emerging content and payment platform closed a massive
$538 million funding round that reportedly
put its valuation at $16 billion and could be a
prelude to an initial public offering.
Investors in that round included institutional firms such as Fidelity Investments.
Snapchat already counted New York hedge
fund Coatue Management as an investor.
Coatue had rarely invested in tech companies
until 2013, but since then it has opened a
Menlo Park office and done a slew of tech
venture capital deals.
So the question becomes: Should Snapchat
be worried about a potentially inflated valuation that could come crashing down pre-exit?
“At some point, they’re going to have to
figure out how to make money or be acquired
by someone who does know how to make
money,” said Peter Lee, managing partner of
Beverly Hills’ Baroda Ventures.
Last month, Gawker.com released leaked
documents showing Snapchat hemorrhaged
nearly $130 million last year, though that figure did not include revenue generated by the
Discover portal, which was launched in
January. Snapchat reportedly charges advertisers $20 per 1,000 video views through
Discover, and it also includes ads in its Story
portal. The company is reportedly expecting
$50 million in revenue this year and $200
million next.
“I don’t see a retraction of the value of
Snapchat,” said Adam Lilling, founder and
managing partner of Santa Monica venture
SILICON BEACH
REPORT
OMAR
SHAMOUT
capital firm Plus Capital. “The thing that’s
going to impact them is speed to an IPO, or a
higher valuation, and I don’t think they care
right now. They’ve got enough money.”
Planting Roots
BCG Digital Ventures, a wholly owned
subsidiary of Boston Consulting Group,
launched an innovation and investment center
in Manhattan Beach earlier this month that
the firm will use as its global headquarters. It
also operates satellite offices in Berlin,
London and Sydney.
The company operates as a hybrid incubator and investment vehicle. It works arm in
arm with 48 Fortune 100 companies that collaborate with BCG’s growing team of 170
local employees, which includes a large number of designers, product developers and engineers, to solve technical challenges as well as
invent products – and businesses – outside of
the restrictive corporate environment.
Funding for the entity comes from Boston
Consulting and its corporate partners.
“We’re figuring out how to create innovative opportunities off the balance sheets
and outside of the
corporate entity,”
said Walter Delph, a
partner and managing director at BCG
who runs the
Manhattan Beach
center. Delph
declined to disclose
how much Boston
Consulting has spent
Delph
to fund the division.
Though many of
its partnerships are private, Delph said one of
the companies BCG is working with at the
center is Denmark’s Lego Group.
“We’re working with Lego to redefine
their digital consumer touchpoints, which is
mostly though their Web and mobile experiences,” he said.
The ownership of new intellectual property or businesses that arise from such partnerships depends on each agreement.
“In 50 percent of ventures, we are the
owner of the IP,” Delph said of the digital ventures group. He added that the company could
potentially seek additional venture financing
for certain incubated entities.
In other instances, BCG’s in-house team
could come up with a product or business that
is then shopped to its corporate partners in the
form of an acquisition or some other commercial arrangement.
“That’s about 30 percent of what we do
today and that will be expanding over the
next 12 to 18 months,” said Delph.
Rebooting
Venice’s Whisper has hired Shelby
Huston Haro as its first vice president of
sales. Haro joins the anonymous-messaging
app from her own L.A. consulting firm,
Maverik Digital. … Tom Furukawa has
joined Venice ad tech firm Zefr as head of
product. He was previously vice president of
global product at Playa Vista’s Rubicon
Project Inc.
Staff reporter Omar Shamout can be reached
549-5225, ext. 263.
+1 604 278 4604
SEPTEMBER 7, 2015
NEWS & ANALYSIS
Researcher to Run New Division by the Numbers
ANALYTICS: Zev Eigen to
add data-driven evaluations
to Littler Mendelson.
Z
EV Eigen never thought he’d end up
working at a traditional law firm again
after he decided in 2005 to study
behavioral and policy sciences at the
Massachusetts Institute of Technology.
But now, armed with a Ph.D., Eigen has
rejoined Littler Mendelson, where he began his
legal career as an associate in 1999. This time
around, however, he has assumed a new role:
the firm’s first national director of data analytics.
LAW
CALE OTTENS
“At that time, I think my goal was to really
get good at research and honing social science
research skills,” said Eigen, who joined Littler’s
Century City office last week. “I just wanted to
be the best possible researcher I could.”
But as he did more and more research at
MIT, Eigen said he quickly realized how
valuable data analytics could be for the legal
profession.
“I started out by doing damage assessments for class-actions,” he said. “Once you
start looking at data in those settings, you
realize how much can be done – if done properly – to help clients minimize risk.”
Littler, too, saw vast opportunities in combining data analytics with the practice of employ-
Eigen
Kun
ment law. The firm also launched the Littler Data
Center last week, which Eigen will lead.
In his new role, Eigen he help the firm use
data to increase operational efficiencies, or
what he calls “the moneyballing of law practice.” Similarly, he will work with Littler’s
business clients to incorporate data analytics
into decision-making.
Eigen could, for example, help a client’s
human resources department comb through
years of timekeeping records that could help
it make more cost-efficient staffing decisions,
he said.
That same data, he said, could also come
into play if a company should ever face litigation over wage and hour laws.
“There has been a huge explosion in how
data can be analyzed,” Eigen said. “I think
we’re going to keep finding so many things
that make us better lawyers and practitioners,
and our clients will be better served.”
Legal App
Have you ever wondered how California’s
strict wage and hour laws compare with those
in other states? Well there’s an app for that
now, thanks to Epstein Becker & Green.
The firm last month released an updated
version of its Wage & Hour Guide for
Employers app, which includes summaries of
regulations in all 50
Whatever the cost of this app, we made it back
states, the District of
the first time we brought in a new client.”
Columbia and Puerto
Rico, plus federal
Crisis Management
laws.
Herbert Dodell has heard hundreds of
EBG launched the
restraining-order requests since he became a
app in 2012 but it
judge in Los Angeles Superior Court in 2008.
only included legal
“Some of them are entertaining, they realsummaries for federal ly are,” Dodell said. “I’ve had someone say,
law, the eight states
‘She’s an alien,’ and that a bird is squawking
Dodell
where the firm has
too loud. … I’ve got stories I could tell you
offices and local laws
that are really fantastic.”
governing the nation’s capital, said Michael
But of the 16 or so cases he hears each
Kun, chairman of the firm’s wage and hour
day, Dodell estimated only 5 percent are
practice group in Century City.
workplace related. That’s because many
Even though EBG doesn’t
employers don’t realize they can
have offices in every state, Kun
request a restraining order when
said the firm decided to use only
they suspect a disgruntled
its attorneys to conduct research
employee – or former employee
and compile summaries.
– might pose a serious threat.
“There’d be a certain
“Employers have an obligation
amount of irony in us creating
to protect their employees and
an app to show employers our
they’re not doing it,” he said, “and
knowledge of wage and hour
I think that’s the problem.”
law if we had contracted it out,”
Indeed, Dodell said it’s quite
possible that last month’s deadly
he said. “It ended up being a
shootings of two journalists in
fairly tremendous undertaking.”
Roanoke, Va., could have been
But, he said, it was well
prevented if their employer had
worth it.
requested a restraining order
The app, which is available
against the alleged gunman.
on Apple, Android and
“It certainly deters and defers
Blackberry devices, is free to
what could have happened if they
download and doesn’t include
got a restraining order,” he said.
ads. It’s not intended to generate revenue directly, he said,
On Money: Wage app. “It also reduces their liability
exposure because they can usualbut it’s a marketing tool
ly say they did everything they could to predesigned to bring in new clients.
vent it. … It’s an unknown remedy.”
“It has helped us not only solidify our
clients but it has also helped us develop our
Staff reporter Cale Ottens can be reached at
relationships with new clients,” Kun said.
“There are clients we are representing in wage- [email protected] or (323) 5495225, ext. 221.
hour class-actions because of this app. …
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please call 323.549.5225
+1 604 278 4604
NEWS & ANALYSIS
SEPTEMBER 7, 2015
Firm’s New Division Elects for Future on Hustings
PUBLIC AFFAIRS: Rally’s
unit will throw hat in ring
for campaigns, initiatives.
P
affairs firm Rally in Hollywood
specializes in issue advocacy for entertainment figures and public-interest clients.
For instance, it managed and helped create the
American Foundation for Equal Rights, sole
sponsor of the federal case challenging the constitutionality of California’s Proposition 8.
Now, the firm is getting more directly
involved in politics, recently creating an arm
called Rally Campaigns that focuses on political and media consulting.
UBLIC
ADVERTISING
& PR
SUBRINA
HUDSON
Felix Schein, Rally’s chief executive, said
the main difference from the company’s core
business and the new one is that Rally
Campaigns will focus more on the short
term, working on election campaigns and
ballot initiatives.
“The Rally umbrella organization is moved
to issues advocacy,” Schein said. “Clients are
longer term, strategies are more varied.”
He said the decision to create a practice
focusing on political consulting was the result of
consumer demand. Leo Wallach, Rally’s principal, oversees the Rally Campaigns practice.
“We’ve had candidates express interest in
working with us,” Schein said. “Leo Wallach
has a background in
campaigning and initiative work. And we
wanted to leverage
that experience and
his know-how and
offer clients of all
stripes more strategic
options.”
Rally Campaigns
specializes in servic- Schein
es such as national
and statewide earned-media management,
campaign consulting for Democratic candidates and producing ballot campaigns that
integrate research and advertising.
Rally was founded in 2012 and has an
additional office in San Francisco.
Keeping It 100
Playa Vista ad agency 72andSunny now
has both feet in the door of holding company
MDC Partners Inc.
The parent company, headquartered in
New York and Toronto, completed a deal last
month to purchase the 49 percent of
72andSunny it didn’t own already, according
to its most recent quarterly filing.
Financial terms of the deal were not disclosed but the filing indicates that MDC
acquired the remaining stake from
72andSunny management and that the total
consideration will depend on the ad agency’s
financial performance over the next six years.
The filing also reports that the selling management group agreed to extend their employment terms while retaining a significant financial interest in the agency’s performance.
Matt Jarvis, chief strategy officer at
72andSunny, said the agency is excited about
the company’s future.
“MDC has been a great partner to
72andSunny and this
agreement is an
example,” he said in a
statement. “Their contractual guarantees of
autonomy, entrepreneurship and investments into our company are uncommon
if not unheard of.”
Jarvis
MDC acquired a
majority stake in
72andSunny in 2010. At the time, MDC’s
then-Chief Executive Miles Nadal said the
“talent at 72andSunny is as good as we have
ever seen” and offered clients the “ability to
make their brands matter in culture.”
News of MDC’s expanded stake in
72andSunny comes at a sticky time for the holding company, which also owns agencies such as
CP+B, Anomaly and Doner. Nadal stepped
down in July amid an ongoing investigation into
his finances by the Securities and Exchange
Commission. He agreed in April to pay back
$8.6 million worth of expenses charged to MDC
dating back to 2009 and is in the process of paying back an additional $21 million.
Agencies & Accounts
DKC Public Relations in Beverly Hills
has added Redbury Hotel in Hollywood as a
client. … Playa Vista ad agency Team One
has named Steve Bava management director
of account services. Bava previously served as
managing director at iCrossing Inc. in Santa
Monica. … West L.A. ad agency QuigleySimpson has named Harpreet Ahuja executive vice president of media. Ahuja previously
served as managing partner and global managing director for Mindshare in Los Angeles. …
PR firm Anthemic Agency in L.A.’s Fairfax
District has signed entertainment venue owner
Checked In: DKC client Redbury Hotel.
Lucky Strike Entertainment as a client. …
Santa Monica creative agency Mistress has
named Lixaida Lorenzo creative director.
Lorenzo had been creative director and copywriter with JWT San Juan in Puerto Rico. …
Playa Vista ad agency TVGla has signed
Italian beverage company Gruppo Campari
as a client. TVGla will be responsible for international digital marketing and social media for
brands Wild Turkey, Appleton Estate Jamaica
Rum and Skyy Vodka. … West L.A. PR firm
Murphy O’Brien has added several clients:
Century City real estate firm Laurus Corp.,
Hotel Zephyr in San Francisco, HKS
Hospitality Group in Dallas and St. Regis
Monarch Beach resort in Dana Point. …
M&C Saatchi L.A. in Santa Monica has
named Mandy Graham director of strategic
planning and has promoted Maria Smith to
creative director. Graham previously worked as
a freelancer and Smith was a copywriter. …
Ad agency Campbell Ewald’s West
Hollywood office has named Jo Shoesmith
executive creative director. Shoesmith previously served as creative director for the
Chicago office of ad agency Leo Burnett.
Staff reporter Subrina Hudson can be reached
549-5225, ext. 251.
+1 604 278 4604
SEPTEMBER 7, 2015
TRANSACTIONS
SPEAK LOUDER
THAN WORDS
Over $30 Billion Sold
CLOSED AUGUST 2015
High Visibility Neighborhood Retail Center
Santa Clarita, CA | 40,761 SF | Occupancy: 78%
CAs Signed: 129 | Live Bids: 16
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Sales Price: $7,113,750
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+1 604 278 4604
NEWS & ANALYSIS
NEWS OF THE WEEK
Hospital Acquisition: Marina del Rey Hospital.
BID BACKED: The Los
Angeles City Council voted
unanimously last week to
support a bid to host the
2024 Summer Olympics.
Council President Herb
Wesson referred to the city’s
action as “an engagement,
not a wedding.” Los Angeles
Mayor Eric Garcetti and a
delegation flew to
Switzerland after the vote to
officially present the bid to
the International Olympics
Committee. The host city
will be chosen in 2017. Los
Angeles is competing against
Paris; Rome; Budapest,
Hungary; and Hamburg,
Germany.
HOSPITAL ACQUISITION:
Cedars-Sinai Health
System acquired the 145-bed
Marina del Rey Hospital
and a neighboring medical
office building. County
records show the hospital
property traded for $25.3
million in mid-August
although the terms of the
deal were not disclosed. The
for-profit hospital, located at
4650 Lincoln Blvd., will convert to nonprofit status and
operate as an affiliate of the
health system. Cedars executives say they will keep its
660 employees and maintain
its existing services.
BIG CHANGE: The
Chatsworth factory that previously manufactured Hot
Pockets frozen sandwiches
might now have something
new on the menu: Chinese
dumplings. Nestlé USA
recently sold the 189,170square-foot manufacturing
facility at 9601 Canoga Ave.
to Synear Food Holdings
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Parting Ways: Spielberg.
Ltd., a Zhengzhou, China,
company that was the exclusive supplier of dumplings to
the 2008 Beijing Olympics.
The food plant has been
closed since the fall after
Nestlé’s shift of its Hot
Pockets production to a facility in Kentucky. The sale was
completed for an undisclosed
amount last month, according
to real estate data provider
CoStar Group Inc. Nestlé
bought the property in 2002
for $9.7 million when it
acquired the Hot Pockets and
Lean Pockets brands.
PARTING WAYS: Steven
Spielberg’s DreamWorks
Studios is looking for a new
distribution deal in anticipation of the end of its arrangement with Walt Disney Co.,
which is set to expire next
year. Several news outlets
reported that Spielberg’s film
company is in talks with
Universal Pictures, which
released summer blockbuster
“Jurassic World,” executive
produced by Spielberg.
DreamWorks’ deal with
Disney was struck in 2009
and will expire in August.
The final two DreamWorks
SEPTEMBER 7, 2015
Big Deal: Ford factory.
films that are set to be distributed under the agreement
are October’s Cold War
thriller “Bridge of Spies” and
“The BFG,” based on the
Roald Dahl book, set to be
released next summer.
ANOTHER SUIT:
Bellingham, Wash., grocer
Haggen has filed a $1 billion
lawsuit against Albertsons,
saying the chain sabotaged
its efforts to succeed in five
states, including California.
Haggen acquired 55
Albertsons stores in March
and alleges it was given misleading pricing data, causing
it to inflate prices. That,
Haggen says, led it to close
26 of the stores and lay off
hundreds of employees.
Albertsons says the lawsuit is
without merit. It sued
Haggen in July alleging it
had failed to pay for more
than $36 million of inventory.
MAKING MATCH: Online
dating service eHarmony
Inc. now aims to apply the
compatibility strategies it
uses for matchmaking to help
match workers with the right
employers. The company
plans to launch a service next
year called Elevated Careers.
It will use personality traits
to match job prospects with
the culture of various workplaces. The Westwood company expects the service to
contribute about 60 percent
of its revenue within three
years.
POSSIBLE MOVE: Korean
American apparel firms in
downtown L.A.’s Garment
District are considering a
move to El Paso, Texas. They
are citing the hike in the
city’s minimum wage and
strict labor laws as reasons to
leave town. El Paso has fewer
regulations, cheaper rent and
an abundance of skilled
laborers, according to the
companies. Korean businesses represent at least one-third
of those in the Garment
District and generate at least
$10 billion in annual revenues, according to the
Korean American Apparel
Manufacturers Association.
BIG DEAL: It looks like
media firm Buzzfeed is
preparing to lease a
250,000-square-foot former
Ford factory in downtown
L.A.’s Arts District. The
building could hold as many
as 1,500 to 2,500 employees. As part of the deal,
BuzzFeed would lease the
five-story building in its
entirety. The property is
being redeveloped as an
office building by
Shorenstein Properties.
NBCUniversal Inc. made a
$200 million investment in
the digital publishing giant
last month in an effort to
attract younger viewers.
ACT PASSES: The Fair
Pay Act was passed by the
state Senate last week. Its
goal is to make sure men and
women receive the same pay
for doing similar work, and it
applies to both public and
private sectors. The legislation could be the most
aggressive stance taken on
the issue nationwide. The law
will allow employees to discuss what they earn without
facing retaliation from
employers. At this point,
however, it’s unclear what, if
any, burden might be placed
on businesses statewide as a
result.
Advertising Feature
People on the Move
ACCOUNTING
REAL ESTATE
Arthur Brown Joins
Marcum LLP as Tax Partner
Arthur Brown, CPA, has joined
Marcum LLP as an Assurance
Partner in Marcum’s National
Alternative Investment Group.
He provides audit and advisory
services for private equity
Brown
funds, venture capital funds
and hedge funds, including
fund of funds, offshore funds and real estate
funds.
Mr. Brown has more than 19 years of public
accounting and private industry experience in
the alternative investment industry and will lead
Marcum’s California Alternative Investment Group
practice.
He graduated with a B.S. degree in accounting,
summa cum laude, from Marist College and is a
veteran of the U.S. Army, serving as a member of
the 74th Army Band at Fort Harrison, Indianapolis.
Cresa Los Angeles congratulates
Dan Gallup on his promotion
to Principal
Dan Gallup joined Cresa in 2005
after receiving his MBA from the
University of Southern California and
has focused on tenant representation
for his entire career. His client list
Gallup
includes many well-known emerging
growth companies in the tech and
entertainment sectors as well as established public and
Fortune 500 companies.
Dan is also part of Cresa’s Mission Critical Solutions
team and negotiates data center and other mission
critical facilities on behalf of his clients.
Contact Rosz Murray
323.549.5225 ext. 215
[email protected]
REAL ESTATE
The Mani Brothers Real Estate Group
(MBRG) announced that Gregory Day
will join their team on September
1, 2015, as president of luxury
hospitality. Day, the former general
manager of Shutters on the Beach in
Santa Monica, Calif., will also serve
as the general manager of the firm’s
Malibu Beach Inn, which is the jewel
Day
of the company’s expanding realestate portfolio that includes luxury
office buildings located across Los Angeles.
ARCHITECTURE
Manoucher Estami recently joined
Harley Ellis Devereaux as a Senior
Project Architect. Manoucher spent
ten years with Gehry Partners on
demanding technical design projects,
as well as four years with Samsung
Construction in Seoul as the Director
of Design-Build Projects. He has more
than 25 years’ architectural experience
Estami
including high-rise residential mixeduse towers of 77, 82 and 92 stories
in New York and Toronto. Manoucher has a Doctorate
in Architecture from the University of Pennsylvania and a
Master of Architecture degree from USC.
+1 604 278 4604
SEPTEMBER 7, 2015
BRENTWOOD PARK | 140SCliffwood.com
5BD/6.5BA | web: 0343694 | $10,995,000
Pacific Palisades Brokerage
James Respondek 310.488.4400
HANCOCK PARK | Trophy Estate
6BD/7.5BA | web: 0308366 | $9,195,000
Sunset Strip Brokerage
Marc Noah 310.968.9212
MULHOLLAND ESTATES | BH Tennis Estate
5BD/5.5BA | web: 0027261 | $7,950,000
Beverly Hills Brokerage
Andrea Alberts 310.777.5105
SUNSET STIP | Architectural Compound
4BD/4BA | web: 0027258 | $6,550,000
Barry Sloane 310.786.1844, Marc Silver 310.809.4656
LOS FELIZ | 4120 Cromwell Avenue
4BD/5.5BA | web: 0308389 | $6,250,000
Aaron Montelongo 310.600.0288
BEL AIR | Light and Bright Bel Air
5BD/5BA | web: 0027245 | $3,495,000
Victoria Risko 310.882.0246
BRENTWOOD | Prime Remodeled Traditional
4BD/3.5BA | web: 0355429 | $3,195,000
Brentwood Brokerage
Simon Beardmore 310.892.6454
BEVERLY CENTER | Contemporary Spanish-Style
4BD/5BA | web: 0308361 | $2,699,000
Marc Noah 310.968.9212
MARINA DEL REY | 3115 Ocean Front Walk 102
3BD/3BA | web: 0343692 | $1,990,000
Pacific Palisades Brokerage
Marlene Okulick 310.890.4498
LOS FELIZ | 4119 Holly Knoll Drive
4BD/3BA | web: 0286287 | $1,399,000
Los Feliz Brokerage
Joe Reichling 323.395.9084, Michael Oliveira 310.775.3582
BRENTWOOD | 11855 Goshen Avenue, Unit 104
2BD/3BA | web: 0277671 | $829,000
Pasadena Brokerage
Rita Whitney 626.502.7731
WEST HOLLYWOOD | Modern Condo
2BD/2BA | web: 0355421 | $550,000
Brentwood Brokerage
Ari Wintraub 310.428.5045
SOTHEBY’S INTERNATIONAL REALTY, GREATER LOS ANGELES BROKERAGES
Beverly Hills | Brentwood | Los Feliz | Malibu | Pacific Palisades | Pasadena | Santa Monica | Sunset Strip
FRANK SYMONS | Executive Vice President/Chief Operating Officer, Western Region | 310.724.7000
sothebyshomes.com/losangeles
Visit onlywithus.com to discover the
benefits available through us alone.
Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used
with permission. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International
Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
+1 604 278 4604
SEPTEMBER 7, 2015
THE LIST
CoNstructIoN DescrIptIoN
Cost
ProfiLe
PLaNNers
GeNeraL CoNtractor
• NaMe
• start date
• owNer
• NaMe
• LocatIoN
(MILLIoNs)
• coMpLetIoN date
• archItect
• phoNe
Hanjin International Inc.
AC Martin Partners
Turner Construction Co.
(714) 940-9000
Greenland Holdings
Harley Ellis Devereaux/
Gensler
Westfield
Westfield
Webcor Builders/
Pankow Penta Builders
(213) 239-2800
Westfield
(310) 478-4456
Oceanwide Plaza
RTKL
LendLease
(213) 430-4660
University of Southern
California
Harley Ellis Devereaux
Southwest Airlines
PGAL
Hathaway Dinwiddie
Construction
(213) 236-0500
Hensel Phelps
(424) 331-7500
United Airlines Inc.
HNTB
Hensel Phelps
(424) 331-7600
Woodland Hills Medical
Center
HMC Architects
Hankey Group/Jamison
Services
Harley Ellis Devereaux/
HansonLA
CIM Group
Skidmore Owings & Merrill/
Lorcan O'Herlihy
Los Angeles World Airports
Various
McCarthy Building Cos.
Inc.
(949) 851-8383
LendLease
(213) 430-4660
U.S. General Services
Administration
Skidmore Owings & Merrill
Westfield
Westfield
Clark Construction
(714) 429-9779
Kilroy Realty Corp.
Rios Clemente Hale/House &
Robertson
Webcor Builders/
Hathaway Dinwiddie
Construction Co.
(213) 236-0500
Austin Commercial
(310) 421-0269
• square footage
1
22
3
4
5
6
7
8
DOWNTOWN: Metropolis,
a 3.5 million-square-foot
development owned by
Greenland Holdings is being
built in phases. The project’s
first phase is expected
to open next year, while
the second phase will be
completed in 2018.
9
10
11
12
HOLLYWOOD: Viacom leased
180,000 square feet at the
Columbia Square project.
Kilroy Realty Corp.’s 4.7acre mixed-use project
will include a 200-unit
residential tower, 350,000
square feet of office space
and retail.
13
14
14
15
16
17
18
19
20
21
22
23
Downtown Going Up
Downtown has the most big-ticket
construction projects in L.A. County.
24
Downtown
Westside
Hollywood
16
11
6
25
LAX Area
South L.A.
5
4
26
San Fernando Valley
South Bay
3
2
San Gabriel Valley
Koreatown
2
1
Source: Business Journal research
Ranked by construction cost; excludes infrastructure projects
RaNK ProJect
THE PACESETTER: The
$979 million Wilshire
Grand is the priciest project
under construction in Los
Angeles County, excluding
infrastructure projects.
Once completed, the
73-story downtown Los
Angeles tower will be the
tallest building west of the
Mississippi River. It will
include a 900-room hotel
and 400,000 square feet
of office and retail space.
The project is owned by
Hanjin International Inc.
and is being constructed
by Chicago-based Turner
Construction. Work on the
1.7 million square-foot
structure is expected to be
completed in 2017.
 NEXT WEEK
The Largest Colleges and
MBA Programs in L.A. County
CONSTRUCTION PROJECTS
WILshIre GraNd CeNter
930 Wilshire Blvd.
Los Angeles 90017
MetropoLIs, Phase I & II
899 S. Francisco St.
Los Angeles 90017
WestfieLd CeNtury CIty
Los Angeles 90067
OceaNwIde PLaza
Los Angeles
Los Angeles 90015
USC VILLage
USC Campus
Los Angeles 90007
LAX Southwest AIrLINes T1 ModerNIzatIoN
100 World Way West
Los Angeles 90045
LAX UAL TerMINaL RedeveLopMeNt
6033 W. Century Blvd.
Los Angeles 90045
WoodLaNd HILLs MedIcaL CeNter
5601 De Soto Ave.
Woodland Hills 91364
CIrca
1200 S. Figueroa St.
Los Angeles 90015
SuNset La CIeNega
8500 Sunset Blvd.
West Hollywood 90069
CeNtraL TerMINaL Area IMproveMeNts
Los Angeles International Airport
Los Angeles 90045
Los ANgeLes FederaL Courthouse
First Street and Broadway
Los Angeles 90013
VILLage at WestfieLd TopaNga
Owensmouth Avenue and Victory Boulevard
Woodland Hills 91364
CoLuMbIa Square RedeveLopMeNt
6121 Sunset Blvd.
Los Angeles 90028
$979.0 new hotel, office and retail
800.0 residential, hotel, restaurant, and
retail in four high-rise buildings
800.0 retail center
700.0 183-room hotel with 504
residences, retail, high-density
LED signage
650.0 six-building complex of student
housing and community-serving
retail
381.4 terminal renovation
377.0 renovation and infrastructure
upgrades of Terminal 7 and 8
342.0 multiple projects addressing
operational, infrastructure and
annual improvements
320.0 two 35-story residential towers
with retail, parking and LED
signage
300.0 James Hotel, residential, retail
300.0 ticket lobby, baggage screening,
baggage claim areas, concourse
areas and systems upgrade
292.0 10-story building with 24
courtrooms and 32 judges'
chambers
250.0 retail center
240.01 two six-story office buildings,
residential tower, retail
February 2013
2017
1,700,000
July 2014
2016/2018
3,500,000
August 2015
Fall 2017
422,000
March 2015
June 2018
2,500,000
October 2014
June 2017
1,250,000
May 2013
May 2018
433,000
November 2013
December 2017
700,000
January 2015
June 2022
N/A
March 2015
September 2017
1,600,000
Fall 2013
2016
235,000
January 2013
January 2016
N/A
January 2013
July 2016
633,000
May 2014
Fall 2015
550,000
February 2014
Spring 2016
675,000
RuNway at PLaya VIsta
Playa Vista
Playa Vista 90094
UNIversaL StudIos2
100 Universal City Plaza
Universal City 91608
WaLdorf AstorIa HoteL
9876 Wilshire Blvd.
Beverly Hills 90210
The BLoc
700 S. Flower St.
Los Angeles 90017
10000 SaNta MoNIca
Los Angeles 90067
LoNg Beach UNIfied SchooL DIstrIct JordaN
HIgh SchooL
6500 Atlantic Ave.
Long Beach 90805
WetherLy - Four SeasoNs CoNdoMINIuMs
9000 Third St.
Los Angeles 90048
PeterseN AutoMotIve MuseuM ExpaNsIoN
6060 Wilshire Blvd.
Los Angeles 90036
200.0 14-acre mixed use lifestyle center April 2013
October 2015
248,088
200.0 theme park renovations including 2014
Wizarding World of Harry Potter
Spring 2016
N/A
192.4 170-room hotel
October 2014
December 2016
394,000
180.0 mixed-use property renovation
April 2014
with retail and hotel
Fall 2015
1,800,000
180.0 40-story, 283-unit condominium 2014
tower
2016
470,000
143.0 high school
October 2013
March 2016
N/A
Playa Runway
Johnson Fain
140.0 residential condominium tower
with 59 units and one penthouse
UCLA LusKIN CoNfereNce CeNter
399 Westwood Plaza
Westwood 90095
HeNry Mayo NewhaLL HospItaL PatIeNt
Tower
23845 McBean Parkway
Valencia 91355
FouNtaINvIew at GoNda WestsIde
12490 Fielding Circle
Playa Vista 90094
USC MIcheLsoN CeNter for CoNvergIeNt
BIoscIeNce
Downey Way & McClintock Ave.
Los Angeles 92660
110.7 conference facility with 250 guest July 2013
rooms
July 2016
294,000
110.5 six-story new patient tower
May 2014
May 2018
160,000
1
125.0 exterior transformation and
interior redesign of museum
110.0 senior living facility
110.0 biomedical sciences research
building
Business Journal estimate.
Business Journal research and estimate. Representatives of the project including the
owner, general contractor and architect declined comment.
N/A - Not Applicable JV - Joint Venture Note: Information provided by representatives of
the owners, general contractors and architects. Projects must be under construction as of
August, 2015. To the best of our knowledge, this information is accurate as of press time.
2
September 2015
September 2017
378,000
October 2014
November 2015
200,000
May 2014
September 2016
460,000
June 2015
December 2016
188,000
NBCUniversal
Atkins Design
Oasis West Realty
Gensler/Pierre-Yves Rochon/
Perkins + Will
Ratkovich Co.
Studio One Eleven
Suffolk Construction
(213) 861-6100
(213) 891-3000
Westfield
(310) 478-4456
PCL Construction
Services Inc.
(818) 246-3481
Matt Construction Corp.
(562) 903-2277
Webcor Builders
(213) 239-2800
Crescent Heights
Handel Architects
Swinerton Builders
(213) 896-3400
Long Beach Unified School
District
NTD Architecture
Inc.
(949) 851-8383
Wetherly Portfolio
RTKL Associates Inc.
Webcor Builders
(213) 239-2800
Petersen Automotive
Museum
Kohn Pedersen Fox
Associates
UC Regents
Bohlin Cywinski Jackson/
Hornberger & Worstell
Henry Mayo Newhall Hospital
HMC Architects
Matt Construction Corp.
(562) 903-2277
Jewish Home for the Aging
Gensler
C.W. Driver
(626) 351-8800
California
Abbie Gregg Inc./HOK
DPR Construction
(949) 955-3771
Inc.
(949) 851-8383
Bernards
(818) 898-1521
While every effort is made to ensure the accuracy and thoroughness of the list, omissions
and typographical errors sometimes occur. Please send corrections or additions on
company letterhead to the Research Department, Los Angeles Business Journal, 5700
Wilshire Blvd., Suite 170, Los Angeles 90036. ©2015 Los Angeles Business Journal. This
list may not be reprinted in whole or in part without prior written permission from the
editor. Reprints are available from the YGS Group, (800) 290-5460 ext. 100.
Researched by David Nusbaum
+1 604 278 4604
SEPTEMBER 7, 2015
THE LIST
RaNK ProJect
CoNstructioN DescriptioN
Cost
ProfiLe
PLaNNers
GeNeraL CoNtractor
• NaMe
• start date
• owNer
• NaMe
• LocatioN
(MiLLioNs)
• coMpLetioN date
• architect
• phoNe
Fall 2014
Winter 2017
365,710
January 2014
March 2016
1,800,000
March 2014
May 2016
581,374
September 2013
January 2016
331,200
August 2013
November 2015
70,000
UDR Inc.
Steinberg Architects
Swinerton Builders
(213) 896-3400
NBCUniversal
International Parking Design
Morley Builders
(310) 399-1600
Equity Residential
Thomas Cox Architects Inc.
W.E. O'Neil
Construction Co.
(310) 643-7900
DPR Construction
(949) 955-3771
May 2013
February 2016
222,000
April 2014
2016
N/A
June 2013
2016
80,000
September 2012
September 2015
530,000
California
HKS Architects
CIM Group
RTKL
DPR Construction
(949) 955-3771
Corgan Associates
(213) 891-3000
Metro
RNL Design
Inc.
(949) 851-8383
February 2012
2016
193,588
July 2015
February 2017
600,000
September 2013
Fall 2016
120,000
Good Samaritan Hospital
Ware Malcolm
Millie and Severson Inc.
(562) 493-3611
Forest City
Togawa Smith Martin
Suffolk Construction
Co. Inc.
(213) 861-6100
Rudolph and Sletten
Inc.
(949) 252-1919
• square footage
27
28
29
30
31
32
33
Residential Lead
Residential projects account for
nearly a third of the 50 largest
projects in L.A. County
34
Residential
15
Mixed-Use
Education
Airport
8
7
4
Hospital
4
Office
Retail
Theme Park
Senior Living
4
2
2
2
Hotel
Museum
1
1
35
36
37
38
3033 WiLshire
3033 Wilshire Blvd.
Los Angeles 90010
UNiversaL Lot G
100 Universal City Plaza
Universal City 91608
ALtitude ApartMeNts
5900 and 6040 Center Drive
Los Angeles 90045
MoNteCedro Sr. LiviNg CoMMuNity
2212 El Molino Ave.
Atltadena 91001
Expo Light RaiL LiNe OperatioNs &
MaiNteNaNce FaciLity
1955 Centinela Ave.
Santa Monica 90404
USC Norris HeaLthcare CeNter
2200 Lambie St.
Los Angeles 90033
888 South Hope
888 S. Hope St.
Los Angeles 90017
LAX BradLey West TerMiNaL 4 CoNNector
Los Angeles International Airport
Los Angeles 90045
Metro DivisioN 13 Bus OperatioNs &
MaiNteNaNce FaciLity
920 N. Vignes St.
Los Angeles 90012
Good SaMaritaN HospitaL MedicaL PaviLioN
1245 Wilshire Blvd.
Los Angeles 90017
ELeveN by TweLve
11th & Hill St., 12th & Broadway
Los Angeles 90015
UCLA TeachiNg aNd LearNiNg CeNter for
HeaLth ScieNces
885 Tiverton Ave.
Los Angeles 90095
$107.0 18-story, 190-unit apartment
tower
106.0 nine-story, 3,900 car garage
105.0 545 apartment units and 840
parking spaces
104.0 senior living facility
102.5 rail operations and maintenance
100.0 clinical research building
100.0 33-story, 526-unit residential
tower
87.0 bus terminal, baggage transfer
facility and a five lane passenger
security screening checkpoint
85.0 bus maintenance and operations
facility
85.0 seven-story medical building and
tenant improvements
84.0 two residential towers with 214
units and 177 units, respectively
82.0 six-story campus building
Episcopal Communities &
Services
Perkins Eastman
Metro
RNL Design
UCLA
Skidmore Owings & Merrill
Kiewit Building Corp.
(310) 566-3480
N/A
N/A
N/A - Not Applicable JV - Joint Venture
Note: Information provided by representatives of the owners, general contractors and
architects. Projects must be under construction as of August, 2015.
Continued on page 20
bridging
the gap.
Full-service, integrated real estate solutions for tenants,
landlords, owners, developers and investors around the globe.
1HZPDUN*UXEE.QLJKW)UDQN/RV$QJHOHV$UHD2ĠFHV
:HVW/$1875 Century Park East, Suite 1380, Los Angeles, CA 90067 ◆ T 310.201.2060
'RZQWRZQ/$445 S. Figueroa St, Suite 3300, Los Angeles, CA 90071 ◆ T 213.596.2222
6DQ*DEULHO9DOOH\13191 Crossroads Pkwy N, Suite 555, City of Industry, CA 91746 ◆ T 562.364.2000
6RXWK%D\2321 Rosecrans Ave, Suite 4200, El Segundo, CA 90245 ◆ T 310.491.2000
2QWDULR3281 E. Guasti Rd, Suite 600, Ontario CA 91761 ◆ T 909.605.1100
North America ◆ Latin America ◆ Europe ◆-8
i
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www.ngkf.com
+1 604 278 4604
THE LIST
SEPTEMBER 7, 2015
Continued from page 19
RaNK ProJect
CoNstructIoN DescrIptIoN
Cost
ProfiLe
PLaNNers
GeNeraL CoNtractor
• NaMe
• start date
• owNer
• NaMe
• LocatIoN
(MILLIoNs)
• coMpLetIoN date
• archItect
• phoNe
October 2013
Fall 2015
145,000
March 2015
March 2017
515,585
Greystar
Togawa Smith Martin
Clark Builders
(858) 320-3900
Mack Urban, Aecom Capital,
Capri Capital Partners
Togawa Smith Martin
January 2014
May 2016
447,634
January 2015
October 2016
200,000
December 2013
July 2016
672,765
2013
2016
200,000
Forest City Blossom
Johnson Fain/Togawa Smith
Martin
Trumark Urban
HansonLA
Morley Builders/
Tishman Construction
(310) 399-1600/(213)
593-8100
Morley Builders
(310) 399-1600
March 2014
April 2016
415,704
January 2015
September 2016
323,000
September 2014
February 2017
456,409
August 2015
October 2017
85,000
September 2014
September 2016
452,726
Summer 2014
Spring 2016
475,000
• square footage
39
40
41
42
43
44
45
46
47
DOWNEY: The Promenade
at Downey site was the
former headquarters for a
division of NASA and later
became a movie production
studio. The 60-acre site
is being converted to an
outdoor shopping center
with office, retail, fitness and
entertainment tenants.
48
49
50
50
Access CuLver CIty
Washington and National
Culver City 90232
South ParK Phase 4
1230 S. Olive St.
Los Angeles 90015
BLossoM PLaza
900 N. Broadway
Los Angeles 90012
TEN50
1050 S. Grand Ave.
Los Angeles 90015
CaMdeN HoLLywood
1540 N. Vine St.
Hollywood 90028
DavId Starr JordaN HIgh SchooL
RedeveLopMeNt
2265 E. 103rd St.
Los Angeles 90002
The CurreNt
707 E. Ocean Blvd.
Long Beach 90802
IcoN at SuNset BroNsoN StudIos
5800 Sunset Blvd.
Los Angeles 90028
GraNd & 12th
1200 Grand Ave.
Los Angeles 90015
Los ANgeLes Harbor CoLLege - SAILS
1111 Figueroa Place
Los Angeles 90744
ALhaMbra PLace
88 S. Garfield Ave.
Alhambra 91801
ProMeNade at DowNey
Lakewood Blvd. & Bellflower
Downey 90242
$80.3 115-unit, five-story multifamily
mixed-use complex
80.0 362-unit mixed-use residential
project
78.0 237-unit multifamily residential
mixed-use
78.0 25-story condominium tower
75.9 five-story building with 287
apartment units
73.0 high school campus
redevelopment
70.0 16-story mixed-use development
70.0 14-story office building
65.6 347 rental apartments and
commercial space
65.2 two-story student union building
64.5 mixed-use project with 260
apartments
62.0 outdoor shopping center with
office, retail, fitness and
entertainment tenants
Note: Information provided by representatives of the owners, general contractors and
architects. Projects must be under construction as of August, 2015.
LendLease
(213) 430-4660
Camden USA
TCA Architects
Bernards
(818) 898-1521
LAUSD
DLR Group
Swinerton Builders
(213) 896-3400
AndersonPacific
Rockefeller Partners
Architects
Hudson Pacific Properties
Gensler
C.W. Driver/Driver
Urban
(626) 351-8800
Inc.
(949) 851-8383
Bernards
(818) 898-1521
Wolff Co.
TCA Architects
Los Angeles Community
College District
HMC Architects
Shea Properties
Architects Orange
Bernards
(818) 898-1521
Alberta Development Group
Architects Orange
Lyle Parks Jr.
Construction
(714) 632-3210
Snyder Langston
(909) 560-1786
Grounded in integrity, reliability
and 150-foot lattice steel structures
It’s more than a power line. It’s about the power to bring renewable energy to millions
of homes. That’s how the employee-owners at Burns & McDonnell approach some
of the biggest transmission projects. That’s the kind of thinking that takes your project
above and beyond. Get the whole story at burnsmcd.com/LABJ.
Offices Worldwide
+1 604 278 4604
SEPTEMBER 7, 2015
THE LIST
1
2
3
20%
Less than 3 years
36%
5 or more years
16%
3-4 years
Road Way
The types of infrastructure projects
in L.A County.
Road
Rail
8
7
Port
Power/Water
5
5
PLaNNers
GeNeraL CoNtractor
• start date
• owNer
• NaMe
• LocatioN
(MiLLioNs)
• coMpLetioN date
• architect
• phoNe
$1,639.0 3.9-mile subway extension from
Koreatown to Beverly Hills
January 2015
October 2022
Metro
Parson Transportation Group
Skanska-Traylor-Shea JV
(323) 852-4200
CreNshaw/LAX TraNsit Corridor
Crenshaw Blvd., Aviation Blvd., Florence
Ave.
Los Angeles and Inglewood 90045
1,282.8 8.5-mile light rail line extending
from Exposition Boulevard to
LAX Green Line with 8 stations
January 2014
May 2018
Metro
HNTB Corp.
Walsh/Shea Corridor
Constructors
(213) 922-4609/(310)
431-3300
GeraLd DesMoNd Bridge RepLaceMeNt
ProJect
Port of Long Beach
Long Beach 90802
1,263.0 bridge replacement
July 2013
2017
Port of Long Beach
SFI
Shimmick Construction Co.
Inc./FCC Construction SA
and Impregilo SPA
(949) 333-1516
PurpLe LiNe Phase 1
5055 S. Wilshire Blvd., Suite 700
Los Angeles 90036
957.0 1.9-mile underground light rail
line with three new stations
July 2014
October 2020
Metro
Aecom Inc./Parsons
Brinkerhoff
Skanska-Traylor JV with
Hatch Mott MacDonald Design
(213) 694-3472
5
Scattergood UNit 3 RepoweriNg ProJect
12700 Vista Del Mar
Los Angeles 90293
950.0 four power generating units
September
2013
Fall 2015
LADWP
N/A
Kiewit Power Constructors
(562) 946-1816
6
ExpositioN LiNe Phase 2 ExteNsioN
11390 W. Olympic Blvd., Suite 300
Los Angeles 90064
595.7 6.6-mile light-rail extension from May 2011
Culver City to Santa Monica
2016
Metro
Parsons Brinckerhoff
Skanska-Rados JV
(310) 500-1438
FoothiLL GoLd LiNe froM PasadeNa to
Azusa
Pasadena to Azusa/Glendora border
San Gabriel Valley 91016
520.0 11.5-mile light-rail extension of
June 2010
the Gold Line from Pasadena to September
Azusa, including six new stations 2015
Metro
Parsons, Aecom and Webcor
Builders
Kiewit, Skanska USA and
Webcor Builders
(626) 471-9050
8
I-5 Freeway WideNiNg
Carmenita Road
Norwalk
380.0 improvements to interchange
and frontage road, construction
of 10-lane structure
June 2011
California Department of
Summer 2016 Transportation
N/A
Flatiron West Inc.
(760) 916-9100
9
I-5 High-OccupaNcy VehicLe LaNe
Magnolia Blvd. to Buena Vista St.
Burbank
355.0 construction of high-occupancy
vehicle lane in each direction
August 2014
2017
Transportation
N/A
Security Paving Co. Inc.
(818) 362-9200
10
Imperial Highway to Pioneer Blvd.
Norwalk
302.0 addition of two-mile highoccupancy vehicle lane
Spring 2013
Spring 2017
Transportation
N/A
(818) 362-9200
LAX TBIT ReNovatioN, AproNs aNd
CoNcourse DeMoLitioN
380 World Way
Los Angeles 90045
275.0 renovation and connection to
Bradley West Terminal
September
2013
May 2016
Fentress Architects/HNTB
Clark/McCarthy JV
(714) 429-9779/(949)
851-8383
12
LAX CeNtraL UtiLity PLaNt
275 Center Way
Los Angeles 90045
271.5 replacement of central utility
plant and equipment
January 2011
October 2015
ARUP/Gruen & Associates
Clark/McCarthy JV
(714) 429-9779/(949)
851-8383
13
SiLver LaKe Reservoir RepLaceMeNt
6001 Forest Lawn Drive
Los Angeles 90068
270.0 reservoir construction
January 2013
January 2020
LADWP
N/A
Webcor Builders
(213) 239-2800
14
Sixth Street Viaduct RepLaceMeNt
585 S. Santa Fe Ave.
Los Angeles 90013
237.0 replace existing viaduct from
Mateo St. to SR-101
February 2015 City of Los Angeles
December
HNTB/Michael Maltzan
2018
Architecture
Skanska-Stacy & Witbeck JV
(213) 694-4300
15
APL TerMiNaL ExpaNsioN
Port of Los Angeles
Los Angeles 90731
196.0 terminal expansion
Fall 2012
2018
Port of Los Angeles
N/A
Dynaletric
(714) 828-7000
SR-47 SchuyLer HeiM Bridge
RepLaceMeNt
Port of Los Angeles
Long Beach
180.0 construction of replacement
bridge
November
2011
2017
Transportation
N/A
MCM Construction
(323) 732-2695
17
Shoemaker Ave. to Silverbow Ave.
Norwalk
180.0 high-occupancy vehicle lane
addition
Winter 2013
Winter 2017
Transportation
N/A
Flatiron West Inc.
(760) 916-9100
18
SaN GabrieL TreNch
San Gabriel
San Gabriel 91776
175.2 2.2-mile grade separation
October 2012
May 2017
Alameda Corridor-East
Construction Authority
Moffat & Nichols
Walsh Construction Co.
(312) 563-5400
19
I-210 Roadway RehabiLitatioN ProJect
Dunsmore Ave. to N. Los Robles Ave.
Glendale and Pasadena
148.5 pavement replacement
April 2015
Spring 2018
Transportation
N/A
Flatiron West Inc.
(760) 916-9100
20
Berth 200/West BasiN RaiLyard
Port of Los Angeles
San Pedro 90744
126.0 relocating the former Pier A Rail
Yard to Rear Berth 200
2013
2015
Port of Los Angeles
N/A
Herzog Contracting Corp.
(562) 595-7414
21
I-5 High OccupaNcy VehicLe LaNe
SR-134 to Magnolia Blvd.
Burbank
116.0 high-occupancy vehicle lane
construction
March 2011
2017
Transportation
N/A
(818) 362-9200
22
F.E. WeyMouth WTP
La Verne
La Verne 91750
115.1 water treatment plant retrofit
June 2012
September
2016
Metropolitan Water District of
Southern California
Archer Western Contractors
(312) 563-5400
23
PaveMeNt RepLaceMeNt
Vista Del Lago Road to Kern County Line
Los Angeles County
100.0 pavement replacement
Summer 2012 California Department of
Fall 2015
Transportation
N/A
Griffith Coffman JV
(562) 929-1128
24
River SuppLy CoNduit UNits 5 & 6
North Hollywood
Los Angeles 91601
91.3 installation of 15,800 linear feet
of 78 inch diameter welded steel
pipe
December
2014
October 2017
LADWP
W.A. Rasic/SAK JV
(562) 928-6111
LAWA ELevator Upgrades & EscaLator
ModificatioNs (Phase II)
1 World Way
Los Angeles 90045
84.1 modernization of elevators,
escalators, moving walks,
stairways
June 2012
June 2016
HOK
W.E. O'Neil Construction Co.
of California
(310) 643-7900
16
Tick Tock
The average reported time for
construction of L.A.’s largest
infrastructure projects
CoNstructioN DescriptioN
Cost
ProfiLe
• NaMe
RegioNaL CoNNector
444 S. Flower St.
Los Angeles 90071
11
Ranked by construction cost
 NEXT WEEK
The Largest Colleges and
MBA Programs in L.A. County
4
7
28%
4-5 years
INFRASTRUCTURE CONSTRUCTION PROJECTS
RaNK ProJect
THE PACESETTER: At $1.64
billion, construction of the
3.9-mile Purple Line subway
extension is the costliest
infrastructure project
underway in the county.
It is one of five projects
adding light rail to the
Metro public transit system.
Heavy construction began
in January and is scheduled
to run through October 2022.
25
Note: Information provided by representatives of the owners and general contractors.
Projects must be under construction as of August, 2015.
To the best of our knowledge, this information is accurate as of press time. While every
effort is made to ensure the accuracy and thoroughness of the list, omissions and
typographical errors sometimes occur. Please send corrections or additions on company
letterhead to the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. ©2015 Los Angeles Business Journal. This list may
not be reprinted in whole or in part without prior written permission from the editor.
Reprints are available from the YGS Group, (800) 290-5460 ext. 100.
+1 604 278 4604
22
DATA BANK
CALENDAR
Wednesday, Sept. 9
Evening With the Mayor
Sponsor: Beverly Hills Chamber of Commerce
5 p.m.
Greystone Mansion
905 Loma Vista Drive, Beverly Hills
$60
(310) 248-1000
Flipping Houses Network
Sponsor: California Flipping Network
6 p.m.
Long Beach Petroleum Club
3636 Linden Ave.
Free
(323) 365-1004
Maximizing Retirement Dollars
Sponsor: Dynamics Capital Group
7 p.m.
Luxe Sunset Boulevard Hotel
11461 Sunset Blvd., Brentwood
$50
(310) 471-0650
Community Connections Luncheon
Sponsor: Sherman Oaks Chamber of Commerce
11:30 a.m.
Cucina Bene
4511 Ventura Blvd., Sherman Oaks
$35
(818) 906-1951
Gallery Representation and
Consignment Agreements
Sponsor: California Lawyers for the Arts
7 p.m.
Social and Public Art Resource Center
685 Venice Blvd., Venice
$25
(310) 998-5590
AdJam: Battle of the Agency Bands
Sponsor: thinkLA
6:30 p.m.
Club Nokia
800 W. Olympic Blvd., downtown Los Angeles
$135
(310) 876-0650
Thursday, Sept. 10
Breakfast Connection
Sponsor: Pasadena Chamber of Commerce
7 a.m.
Courtyard by Marriott
180 N. Fair Oaks Ave., Pasadena
$30 (Reservation required)
(626) 795-3355
Saturday, Sept. 19
Competitive Advantage in Your Supply Chain
Sponsor: Aerospace & Defense Forum
7:30 a.m.
California Manufacturing Technology Consulting
690 Knox St., Torrance
Free (Registration required)
(818) 505-9915
Tuesday, Sept. 15
Power Hour: Face-Off With
Los Angeles Kings’ Luc Robitaille
Sponsor: Los Angeles Area Chamber of Commerce
11:45 a.m.
350 S. Bixel St., downtown Los Angeles
$30
(213) 580-7590
Latino Expo
Sponsor: Greater San Fernando Valley
Chamber of Commerce
10 a.m.
Panorama Mall
8401 Van Nuys Blvd., Panorama City
Free
(818) 989-0300
Tuesday, Sept. 22
Accelerated Networking
Sponsor: eWomenNetwork Los Angeles
11:30 a.m.
Olympic Collection
11301 Olympic Blvd., West Los Angeles
$65
(424) 270-5806
Wednesday, Sept. 23
Business After-Hours Mixer
Sponsor: Los Angeles Area Chamber of Commerce
5:30 p.m.
Level Furnished Living
888 S. Olive St., downtown Los Angeles
$30
(213) 580-7590
Flipping Houses Network
Sponsor: California Flipping Network
6 p.m.
Torrance Library
3301 Torrance Blvd.
Free
(323) 365-1004
Thursday, Sept. 24
Wednesday, Sept. 16
Business Expo
Sponsor: Santa Fe Springs Chamber of Commerce
3 p.m.
Heritage Park
12100 Mora Drive, Santa Fe Springs
Free
(562) 944-1616
CONVENTIONS
Friday, Sept. 25
Future of Health
Sponsor: Valley Economic Alliance
7:30 a.m.
Glendale Adventist Medical Center
1509 Wilson Terrace
$50
(818) 379-7000
• Green Festival
Sept. 25-27
www.greenfestivals.org
Tuesday, Sept. 29
• Japan Expo
Oct. 17-18
(213) 864-1169
Thursday, Sept. 17
Networking at Noon
Sponsor: Santa Fe Springs Chamber of Commerce
11:30 a.m.
Brookdale Central Whittier
8101 Painter Ave., Whittier
$17
(562) 944-1616
Security’s New Reality
Speaker: Michael Montecillo, IBM Security Services
Sponsor: Town Hall Los Angeles
11:30 a.m.
City Club
555 S. Flower St., downtown Los Angeles
$75
(213) 628-8141
SEPTEMBER 7, 2015
Motion Picture Industry’s Future
Speaker: Cheryl Boone Isaacs,
Academy of Motion Picture Arts and Sciences
Sponsor: Town Hall Los Angeles
11:30 a.m.
City Club
555 S. Flower St., downtown Los Angeles
$75
(213) 628-8141
Thursday, Oct. 1
Networking Lunch
Sponsor: Santa Monica Chamber of Commerce
6 p.m.
Seasons 52
1501 Ocean Ave., Santa Monica
$30
(310) 393-9825
Monday, Oct. 5
Public Speaking Lunch Meeting
Sponsor: Broads and Beaus Toastmasters Club
Noon
Los Angeles County Farm Bureau
41228 12th St. West, Palmdale
Free
(661) 974-9904
• Ultimate Women’s Expo
Oct. 17-18
(866) 618-3434
• Stan Lee’s Comikaze
Oct. 30-Nov. 1
www.comikazeexpo.com
• L.A. Auto Show
Nov. 20-29
(213) 765-4617
• Ski Dazzle
Dec. 4-6
www.skidazzle.com
• International Drone Expo
Dec. 11-12
(866) 691-7776
• U.S. Veterans Stand Down L.A.
Dec. 19-21
(213) 542-2600
• FitExpo Los Angeles
Jan. 23-24
(888) 348-3976
• L.A. Art Show
Jan. 28-31
(310) 822-9145
Tuesday, Oct. 6
Benefits University:
Disruptive Technology
Sponsor: HUB International
8:30 a.m.
Luxe Sunset Boulevard Hotel
11461 Sunset Blvd., Brentwood
Free
(310) 568-5959
What’s Happening in Health Care?
Sponsor: Challenger Networking Group
Noon
Sumo Asian Buffet
21610 Victory Blvd., Woodland Hills
$12.50 lunch
(818) 992-4270
• Bride World Expo
Jan. 30-31
(800) 600-7080
• LA Cookie Con
Feb. 5-6
(818) 495-5732
• Abilities Expo
Feb. 5-7
(310) 450-8831, ext. 3
• Los Angeles Boat Show
Feb. 25-28
(714) 633-7581
Wednesday, Oct. 7
Public Speaking Breakfast Meeting
Sponsor: Bunker Hill Toastmasters
7:30 a.m.
City Club
555 S. Flower St., Los Angeles
Free
(424) 272-0289
• Beauty Expo
March 12-14
(310) 680-7367
Calendar listings should be submitted at least three
weeks in advance of the event. Send listings by
email to [email protected] with
“Calendar” in the subject line.
• RuPaul’s DragCon
May 7-8
www.rupaulsdragcon.com/
• WonderCon
March 25-27
www.comic-con.org/wca
L.A. Convention Center, (213) 741-1151, ext. 5340
BANKRUPTCIES
4221 Clearvalley LLC
14545 Friar St., Suite 101
Van Nuys 91411-2357
Chapter: 11
Doc# LA15-12767-MB
File-Date: 08/19/15
M. Jonathan Hayes
(818) 783-6251
Key Disposal Inc.
1141 S. Taylor Ave.
Montebello 90640
Chapter: 11
Doc# LA15-23044-BR
File-Date: 08/19/15
Eric S. Pezold
(714) 427-7000
Katangian Investment Properties LLC
1141 S. Taylor Ave.
Montebello 90640
Chapter: 11
Doc# LA15-23046-DS
File-Date: 08/19/15
Eric S. Pezold
(714) 427-7000
Lite House Electric Service Inc.
1901 S. Pacific Ave.
San Pedro 90731
Chapter: 7
Doc# LA15-22562-SB
File-Date: 08/10/15
Barbara J. Craig
(310) 935-3171
Cristcat Calabasas Inc.
500 Via Val Verde
Montebello 90640
Chapter: 7
Doc# LA15-22596-BR
File-Date: 08/11/15
Matthew Hess
(310) 751-7544
Michael J Inc.
500 Via Val Verde
Chapter: 7
Doc# LA15-22618-DS
File-Date: 08/11/15
Pro-per.
Cohen Legal Network Inc.
5461 Encino Ave.
Chapter: 7
Doc# LA15-12692-MT
File-Date: 08/12/15
Pro-per.
Choi Security Services Inc.
4055 Wilshire Blvd.
Los Angeles 90010
Chapter: 7
Doc# LA15-22739-RK
File-Date: 08/13/15
Rabin J Pournazarian
(818) 995-4540
Chapter 7: a “straight” liquidation bankruptcy involving an appointed trustee to sell all assets by
auction or other means to pay creditors and trustee fees.
Chapter 11: a process which allows a business to gain temporary relief from paying debt in order
to attempt a successful reorganization. The debtor remains in control of the business during the
bankruptcy and the business continues to function.
Chapter 13: a bankruptcy plan available to individuals whose “income is sufficiently stable and
regular to enable such individual to make payments under a plan.” The debtor makes payments to
a trustee who disburses the funds to creditors.
Involuntary bankruptcy: the debtor is forced into bankruptcy by secured creditors whose
claims total at least $220,000. Involuntary bankruptcy may be filed under Chapter 7 or 11.
AKA: also known as
DBA: doing business as
FDBA: formerly doing business as
FKA: formerly known as
FAW: formerly associated with
+1 604 278 4604
September 7, 2015 • An Advertising Supplement to the Los Angeles Business Journal
2015
Private Aviation
Guide
INSIDE:
Hawthorne Airport: LAX’s Fifth Runway | What Is Your Aircraft Really Worth?
New U.S. Customs Facility in Van Nuys | Creating L.A.’s Most Exclusive Aviation Complex
A Beechcraft King Air 350 plane at Hawthorne Airport.
Sponsored by
This special advertising supplement did not involve the
reporting or editing staff of the Los Angeles Business Journal.
JetCenterLosAngeles
+1 604 278 4604
24 AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL
SEPTEMBER 7, 2015
PRIVATE AVIATION GUIDE
Hawthorne Airport: LAX’s Fifth Runway
F it has been a while since you have
been to Hawthorne Airport, you
will likely be surprised at the many
improvements that have been made. If
the two new hangars
totaling 43,200 sq. ft.
PRIVATE
nearing completion
AVIATION
SPOTLIGHT are any indication,
something interesting is happening. Once exclusively used
by small plane owners and the Northrop
Corporation, it is now just as common
to see top of the line G650’s and Falcon
7x’s on the runway or parked in front of
Jet Center. A group of individuals formed
Hawthorne Airport LLC to assume the
master lease on the airport in 2005, and
since then the airport has been in a constant state of rapid improvement and
growth.
Hawthorne Municipal Airport (KHHR)
has been Los Angeles’s best-kept aviation
secret. More and more people are taking
advantage of this conveniently located
airport each day. Hawthorne Airport
is the closest airport to downtown Los
Angeles, West Los Angeles, University of
Southern California, and the Los Angeles International Airport (LAX). Located
along the I-105, the Crenshaw Boulevard
exit is just a quarter mile from the Hawthorne Airport’s driveway.
Built in 1939, Hawthorne Airport was
named after Jack Northrop and was used
as a flight-test site for Northrop Aircraft
Corporation. During World War II, the
airport was used by the US Army Air
Forces as an aircraft modification center
and Air Transport Command to ferry new
aircrafts to operational units. Since then,
Hawthorne Airport has undergone many
substantial changes. Recently, an entirely
new energy has enveloped the airport,
leading to increase in momentum.
Today, Hawthorne Airport is home
to many thriving businesses such as
Advanced Air and SurfAir for folks who
are looking for something better than the
state of air travel at nearby LAX. To avoid
the crowds, security lines, parking hassles,
and costs of flying through LAX, people
are beginning to flock to Hawthorne
Airport for individualized service. Discontented by the high cost and inconvenience of flying into LAX, many business
aircraft operators and pilots seem to have
also found refuge at KHHR. Also, unlike
many surrounding airports, Hawthorne
Airport has no curfew or ATC delays.
Planes fly out of KHHR 24 hours a day.
With a convenient conference room,
state of the art theater room, pilot briefing
I
room, relaxing lobby, superior customer
service, and an ISBAH registered accreditation, Jet Center Los Angeles is setting a new
standard. Jet Center is also the home to
one of the best restaurants in Los Angeles:
Eureka! Tasting Kitchen. With outstanding
reviews on both Yelp and TripAdvisor, Eureka! is frequented by the staff of SpaceX and
the design team at TESLA, both of which
are Jet Center’s neighbors.
“Eureka! features an elevated American selection of craft beer, small-batch
whiskey, regional wine, and locally
sourced ingredients. The restaurant offers
handpicked music, televised sports and
weekly events such as Steal The Glass
and live music. Exceptional hospitality
and unique environments create a value
driven experience that Eureka! defines
as ‘EATertainment!’” said Alexia Penna,
Eureka’s PR and marketing manager. Eureka! Restaurant Group’s headquarters are
located on the second floor of Jet Center.
The transformation of the airport
started when the Hawthorne Airport LLC
partners signed the master lease on the
airport in 2005. There has been a constant stream of improvements since then,
with the most recent being the two new
hangars under construction. According
to Donny Sandusky, Jet Center’s General
Manager, there will be 43,200 sq. ft. of
new hangar space and 9,000 sq. ft. of new
office space. There are also 10 acres of
additional undeveloped land and 16 hangars to be built on the north side of the
airport in 2016. Hawthorne Airport gives
any tenant the opportunity for a long
term lease at an airport that welcomes
general aviation, and in a city that welcomes new business. Regardless of why
customers come to Jet Center, whether it
be current issues out at Santa Monica Airport or a possible new future football stadium in Los Angeles, Jet Center welcomes
all with open arms.
“We are looking forward to all of the
new tenants and clients this expansion is
going to bring to KHHR,” said Sandusky.
In addition, these two brand new hangars were carefully built with direct input
from the film industry. From easy access
to often requested elements to facilitate
set-up and production, filming requirements were built in. Hawthorne Airport
has been the set of many major motion
pictures, television episodes, commercials, and music videos. Jet Center has
also been the venue of many significant
events, such as, most recently, the unveiling of Tesla’s new model S Dual Motor.
Advanced Air, an FAA Certified Air Carrier, began at Hawthorne Airport in 2006
and continues to grow exponentially.
Advanced Air, which started with one King
Air 350, is now a full service charter and
aircraft management company that operates a fleet of King Air 350’s and Pilatus
PC-12’s. Safety, above all, has always been
Advanced Air’s focus. Advanced Air is ISBAO certified, which means the company
follows a code deemed by the International
Business Aviation Council to be the best
practices designed for achieving high levels
of safety and professionalism. Advanced
Air’s President Levi Stockton is a board
+1 604 278 4604
SEPTEMBER 7, 2015
AN ADVERTISING SUPPLEMENT TO THE LOS ANGELES BUSINESS JOURNAL 25
+1 604 278 4604
SEPTEMBER 7, 2015
PRIvAte AvIAtIon guIDe
Irrational Markets: What Is
Your Aircraft Really Worth
and Who Do You Believe?
HAT’S it worth? Your car, your
house, your stocks, or any other
asset from fine watches to artwork. The 2008-2009 financial panic and
ensuing global meltdown washed away
more financial value than any other crisis
since the 1929 stock market crash. Six years
into the nascent recovery and signs are
appearing that housing is close to reaching
a bottom, financial assets have rebounded,
and business activity has regained momentum, albeit at a slow pace, with economic
issues still plaguing some parts of the world
like China and Europe.
The general business aviation market
was one of the hardest hit during the
crisis. In addition to weathering the worst
economic downturn in over fifty years,
business aviation had to weather a social
image crisis as well due to its perceived
alignment with the 1% and Wall Street.
Recent statistics show a drastic improvement from 18% of the entire private business jet fleet for sale at the height of the
crisis to numbers now below 10% of the
fleet. But aviation experts point out that
the reduction in inventory has come at a
huge cost in the form of plunging prices
and unpredictable values.
At a recent business aviation forum in
Teterboro, New Jersey, several industry
experts lamented the “irrational” nature
of the pre-owned aircraft markets and
the complexities of determining aircraft
values since the crisis. A few weeks earlier,
at another private jet symposium in New
York, a well renowned aircraft broker
complained that current pricing guides
for aircraft values were out of date by the
time they reached the industry, and that if
these so called “experts” couldn’t forecast
residual values, it would be impossible to
calculate what your aircraft is worth.
All these so-called experts and industry
pundits claim that falling prices and constant volatility are a result of a complex
market, which bears little resemblance to
the fundamentals. “Irrational” is the oftused term to explain today’s market forces
in the pre-owned jet segment. However,
it could be argued that today’s pre-owned
private jet market is completely “rational” and actually provides a clear signal
that both supply of aircraft and pricing
prior to the financial crash was “irrational”. Economists like to use the term
“overshooting” when describing markets,
which tend to correct either to the downside or upside in rapid fashion. When this
occurs, the market overcorrects due to the
rapid pace of price adjustments. Prior to
W
the 2008-2009 crises, the private jet market was clearly “out of whack.” Imagine
if you bought a new BMW, drove the car
off the lot, and after six months sold it to
your neighbor for an additional $8,000
premium. That’s exactly what occurred in
the excesses of the pre-owned jet market
in 2005-2008. Supply and demand were
completely out of balance and prices paid
for both new and pre-owned aircraft bore
little resemblance to any sort of rational
pricing. Stories of newly minted Russian
oligarch’s offering $10,000,000 over fair
market value in the days leading up to the
crash were commonplace as was buying
a new aircraft with no intention of taking
delivery and planning to flip the contract
at a huge premium to someone else.
Bankers complain that their “4% a
year” depreciation models no longer
work due to today’s “irrational” market
movements. This from the same bankers
+1 604 278 4604
SEPTEMBER 7, 2015
Nonstop excellence.
Nonstop elegance.
At our Van Nuys location, “full-service FBO” is an understatement.
Settle into a well appointed private office or conference room, or indulge
in pure R&R in our exclusive lounge. Plus, we’ve upgraded
our Van Nuys facility with a new hangar, and new, larger ramp and lobby.
Castle & Cooke Aviation. The highest standards. And climbing.
Van Nuys, California
•
Everett, Washington
•
Honolulu, Hawai‘i
•
Lāna‘i, Hawai‘i
castlecookeaviation.com • (818) 988-8385
+1 604 278 4604
SEPTEMBER 7, 2015
More Exciting Developments at Castle & Cooke
ASTLE & Cooke Aviation is a small
chain of FBOs serving the Western
United States for over 34 years
with locations in Van Nuys California,
Everett, Washington, and Honolulu,
Hawaii. Castle & Cooke started in 1981
with a single 20,000 sq. ft. hangar and
1,000 sq. ft. of office space in Van Nuys
and has now grown to have nearly ten
times the size of the
initial facility.
PRIVATE
With the latest
AVIATION
SPOTLIGHT development of a
38,000 square foot
hangar and 11,000 square foot of office
and shop space attached as well as an
additional two acre ramp conveniently
located just north of the Air Traffic Control Tower, Castle & Cooke Aviation – Van
Nuys is well prepared for the increase of
both domestic and international traffic.
The recent opening of Customs and Border Protection at the airport has allowed
private flights to clear US Customs when
arriving from anywhere in the world.
With Castle & Cooke’s ramp expansion
located midfield, taxi or towing from the
new CBP facility is just a few minutes
away. Including these new additions, the
VNY complex now offers 188,000 square
feet of hangar, along with 43,000 square
feet of office & shop, and 205,000 square
feet of ramp space.
In addition to the recent developments at the Van Nuys facility, Castle &
Cooke Aviation maintains first-class FBO
operations in both Everett, Washington
(PAE) just North of Seattle and in Honolulu, Hawaii at the Honolulu International Airport (PHNL) on the beautiful Island
of Oahu. Similar to VNY, these FBOs
are first class facilities and are staffed by
experienced professionals who are dedicated to exceptional service in every facet
of aviation. Each FBO has unique service
capabilities tailored to their customer
base and transient traffic requirements.
In Everett and Arlington Washington
(PAE) and (AWO), Castle & Cooke is supporting the Aviation community and
continually looking for development
C
opportunities to expand and grow by providing a full range of services to all class
of aircraft ranging from light GA aircraft
operations through all class of business
jets to the even the more complex handling of cargo aircraft such as the Antovov-124 and all Boeing 7 series aircraft..
Located directly adjacent to Boeing’s production facility, Castle & Cooke Aviation
has capabilities of all measures.
Castle & Cooke Aviation’s Honolulu,
HI (PHNL) location has magnificent
views of Diamond Head from their lobby
and conference room. Customs and agriculture support services are available on
site along with many other client and
crew amenities. With Hawaii being a
gateway to Australia, Asia and the Pacific
Rim, Castle’s Honolulu FBO is the perfect
stop. Outbound to countries further west
or when returning to the US mainland,
there is no better place to find excellent
service and care for passengers, crew and
aircraft. The year-round ideal weather
makes technical stops a breeze – you’ll
only wish you could stay longer.
This full-service FBO boutique-style
chain continues to grow. Castle & Cooke
Aviation is home to several Fortune 500
flight departments as well as many private aircraft ranging from small light jets
to the newest state of the art Gulfstream
G6550 and Bombardier Global Series. In
addition, they handle many private and
charter flights from all over the country
and now worldwide at all of their locations. Aircraft large or small, Castle &
Cooke provides excellent service and
elegant facilities.
David H. Murdock, Castle’s Chief
Executive Officer and owner, has been
operating at Van Nuys Airport since 1975
and built his first hangar there in 1981.
Mr. Murdock’s Lear 25 was the seventh
jet to be based at VNY in 1977. Today,
his flight department shares hangar and
offices with aircraft owned by the region’s
top corporations and business leaders.
For more information about Castle & Cooke,
visit www.castlecookeaviation.com
+1 604 278 4604
SEPTEMBER 7, 2015
INTRODUCING
L.A.’s MOST EXCLUSIVE
BUSINESS AVIATION
ADDRESS
COMING 2016
SALES & ACQUISITIONS | CHARTER & MANAGEMENT | 24-HOUR PRIVATE AVIATION CENTER
MAINTENANCE & REFURBISHMENT
| AVIONICS & INTERIORS | AERIAL CINEMATOGRAPHY
Since starting with a single Learjet in 1968 to now providing the largest business
jet fleet on the West Coast, Clay Lacy Aviation is proud to be L.A’s original and
best private aviation company. Our new South Campus is designed to offer the
highest levels of privacy and security.
Van Nuys Airport – Los Angeles 818.989.2900 claylacy.com
+1 604 278 4604
SEPTEMBER 7, 2015
New U.S. Customs Facility at Van Nuys Airport
is on Fast Track to Operational Success
HE newly opened Van Nuys
Airport U.S. Customs and
Border Protection (CBP) facility
provides clearance services for arriving
international flights that will benefit
business travelers, fuel the local economy
and reduce airspace congestion in the
Southern California region.
The dedicated 1,528 square-foot
clearance facility officially opened on
May 21, 2015 under the federal User
Fee Airport Program, which reimburses
CBP for all operating costs with
fees collected from arriving aircraft.
Housed at Signature Flight Support,
it has successfully cleared over 100
international flights since its opening.
As one of the world’s busiest general
aviation airports, Van Nuys Airport (VNY)
had been without CBP officers since 2006
when on-call customs clearance services
were suspended at all airports within the
Los Angeles basin except at Los Angeles
International Airport. Over the past six
years, VNY management has worked in
close collaboration with airport tenants
and key stakeholder groups to reestablish
CBP services at the general aviation
airfield.
The return of clearance services for
arriving international flights comes at no
cost to the federal government thanks to
collaboration among aircraft operators,
airport management and government
officials.
“Van Nuys Airport is one of the most
important civil aviation hubs in the
country,” said U.S. Congressman Tony
Cárdenas. “After years of advocating the
return of Customs services, I am proud
to say that it is now the only general
aviation airport in Los Angeles with an
on-site Customs and Border Protection
facility. I am very pleased about the jobs
that the new Customs station will create,
both at Van Nuys Airport and for airport
T
customers throughout the San Fernando
Valley.”
The new CBP facility adds significant
convenience for arriving international
travelers, who can fly directly to VNY
without first stopping at another airport
to clear Customs. Besides saving private
jet travelers time and money, the service
benefits the environment by reducing
emissions from repositioning flights and
decreasing overall aircraft operations
within Southern California’s congested
airspace.
The dedicated CBP facility features
an interview room, inspection room,
office space and a high level of security,
similar to that found at our nation’s
large commercial airports. Facility user
fees charged to arriving aircraft have
been modeled to fully offset facility
improvement and operating costs. Hours
of operation are Thursday through
Monday, 12 p.m. to 8 p.m. Requests for
services outside these normal operating
hours are available but must be arranged
with CBP.
As a designated User Fee Clearance
facility, VNY is assigned a full-time
Customs agent to process arriving
international aircraft, passengers and
cargo. Signature Flight Support, which
advanced approximately $248,000 to
construct a dedicated clearance facility,
is responsible for collecting user fees
and making payments to LAWA that are
then submitted to CBP for staffing and
operational costs.
VNY’s proximity to downtown Los
Angeles, Hollywood and LAX, combined
with the addition of CBP services, makes
it the ideal destination for business
travelers. Located on the 730-acre airport,
VNY’s three Fixed Based Operators offer
a full range of services and amenities
including modern passenger lounges,
fueling services, maintenance support,
and aircraft hangar and tie-down areas.
“As a world-class general aviation
airport that continues to play a
critical role in Southern California air
transportation, having U.S. Customs
and Border Protection services available
onsite makes the airport much more
convenient for international travelers,”
said Deborah Ale Flint, executive
director for Los Angeles World Airports.
“Working with our partners, Signature
Flight Support and other major airport
tenants, Los Angeles’ business airport
continues to make enhancements
to provide world-class facilities and
service.”
VNY is one of three airports owned
and operated by Los Angeles World
Airports (LAWA), a self-supporting branch
of the City of Los Angeles, governed
by a seven-member Board of Airport
Commissioners who are appointed by the
Mayor and approved by the Los Angeles
City Council.
One of the world’s busiest general
aviation airports, VNY serves as a valued
San Fernando Valley resource, providing
ongoing leadership in general aviation,
business and community service.
Dedicated to noncommercial air travel,
VNY had over 238,000 operations in
2014.
Annually, the airport contributes
approximately $1.3 billion to the
Southern California economy and
supports over 12,000 jobs. In addition,
VNY provides programs to benefit
local residents, along with educational
initiatives and aviation-related career and
training opportunities.
For more information, visit lawa.org/vny,
like us on Facebook at Facebook.com/
VNYOfficial, follow us on Twitter at twitter.
com/VanNuysAirport and Instagram at
Instagram.com/vannuysairport.
NBAA’s New Guidelines Help Operators Fly Quietly
HE National Business Aviation
Association (NBAA) this summer
released its much-anticipated
and updated Noise Abatement Program
(NAP), which provides business aviation
operators, as well as airport authorities,
with recommended guidelines for reducing aircraft noise impacts to communities
surrounding the nation’s airports. The
safe, standardized and straightforward
operating procedures were developed for
today’s business jet aircraft, which are
quieter, climb faster and often operate
at airports that are far more congested
than when the NAP was first launched in
1967.
“NBAA is proud to offer the business
aviation community – and the many
airports across the country which have
recommended use of our NAP over the
years – a completely updated program
that is the result of several years of hard
work, technical studies and vetting by
NBAA staff and committee members and
our partner consultant, HMMH,” said Ed
Bolen, NBAA president and CEO. “Even
T
though the U.S. has the quietest jet aircraft fleet in the world, NBAA believes
that it is of paramount importance for
business aviation operators to do everything possible to minimize noise impact
whenever and wherever feasible.”
Information on the updated NAP
was presented today at NBAA’s Regional
Forum in Teterboro, NJ by Gabriel Andino, NBAA Access Committee chairman
and noise expert with AvPORTS at Teterboro Airport (TEB). “The revised guidelines help reduce overall noise levels to
communities surrounding airports, while
still meeting new ATC requirements,”
said Andino.
Andino added that the NBAA procedures should be used in the absence of
recommended noise abatement procedures from the aircraft’s manufacturer.
The revised NAP retains the recommendations for the existing standard
departure procedure, but includes a new
option for high-density airports. According to Andino, the high-traffic option
– which allows for a shorter thrust cut-
back area – may allow the procedure to
be used at busy airports where it was not
feasible before.
The new guidelines do not include
the former “close-in” departure procedure, which was found to have no
significant impact on noise reduction
for today’s Stage 3 and 4 aircraft, which
climb so fast that they reduce power
while over airport property, reducing
the benefit to communities outside the
airport boundary.
The updated NAP also includes recommendations for approach and landing procedures (VFR and IFR). As with
the departure procedure, updated safety
information and data on best practices
is presented. “NBAA’s Safety Committee
played a significant role in helping to
update the entire Noise Abatement Program,” said Andino.
Jeff Gilley, NBAA’s director of airports
and ground infrastructure, noted that
the revised NAP includes relevant best
practices information not just for aircraft
operators, but for airport and air traf-
fic control authorities as well. “It’s in
the best interests of all stakeholders for
aircraft to be flown as quietly and neighborly as possible,” said Gilley. “As NBAA’s
new NAP materials say, ‘quiet flying is
good business.’”
Gilley said that in the coming months,
NBAA would be working closely with
airport operators around the country to
distribute the revised NAP and inform all
stakeholders of the updated noise abatement procedure guidelines.
Founded in 1947 and based in Washington,
DC, the National Business Aviation Association (NBAA) is the leading organization for
companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 10,000 companies
and provides more than 100 products and
services to the business aviation community, including the NBAA Business Aviation
Convention & Exhibition, the world’s largest
civil aviation trade show. Learn more about
NBAA at www.nbaa.org.
+1 604 278 4604
SEPTEMBER 7, 2015
+1 604 278 4604
SEPTEMBER 7, 2015
PriVAtE AViAtioN guidE
Creating L.A.’s Most Exclusive Aviation Complex
Clay Lacy Aviation’s
$13 million
development at
Van Nuys Airport
offers ultimate
privacy and security
1964 when legendary aviator
Clay Lacy landed the first Learjet at
Los Angeles’ Van Nuys Airport, he
began laying the foundations of what
would become one of the largest and
most diverse fleets of business aircraft
available today.
Four years later in 1968, he founded
the first jet charter company west of
the Mississippi, pioneering a new era of
incredible mobility. For the five decades
since, Clay Lacy Aviation has managed,
maintained and globally operated jet aircraft from every major manufacturer.
Clay Lacy Aviation now employs more
than 300 people and operates a fleet of
over 75 aircraft, earning distinction as the
world’s most experienced operator of private jets. It operates a second full-service
private aviation facility at Seattle’s Boeing
Field, with regional offices and aircraft
operations in 10 other U.S. cities.
For nearly half a century, Clay Lacy
Aviation has served the personalized
needs of travelers across the globe. It
delivers a full spectrum of private aviation
services and amenities under one roof
including aircraft management, charter,
sales, acquisitions, maintenance, avionics,
interior completions and ground support.
“Our employees are the reason for our
success,” said Clay Lacy Aviation President and CEO Brian Kirkdoffer. “Together, they bring the very best practices from
business, commercial and military aviation to provide the highest level of safety,
service and value in all that we do.”
i
N
Expanding Into the Future
In February 2015, Clay Lacy Aviation
broke ground on a $13-million expansion and refurbishment of its Van Nuys
Airport headquarters facility, designed to
be Los Angeles’ most secure and private
corporate aviation complex.
Coming in 2016, the South Campus
project will feature:
• 63,000 square feet of hangar space to
house long-range aircraft
• 21,000 square feet of new office,
training and meeting space to
accommodate corporate flight
departments and private events
• An indoor event space featuring the
display of Clay Lacy’s iconic Lear 24,
the first business jet to land at Van
Nuys Airport in 1964
• 3.5 acres of aircraft ramp space
The new development combined with
Clay Lacy Aviation’s current leasehold will
encompass 14 total acres, 149,000 square
feet of hangar space and 35,000 square feet
of office, training and meeting space. The
physical orientation of the new buildings
combined with the refurbishment of existing facilities is intended to keep travelers
out of view from the surrounding street
and aircraft ramp areas, providing the most
private and secure location on the airport.
Once completed, the new and existing facilities will generate significant and
positive economic impacts. These include
more than $31 million in revenue to
Los Angeles World Airports and $2.4
million in property taxes over 30 years.
The development will also create about
25 new maintenance, line service and
ground support jobs with an annual payroll of more than $2 million.
“We are excited to create the ultimate
private aviation facility in Los Angeles,”
Kirkdoffer said. “Every detail of our new
South Campus has been designed with
the privacy, comfort and convenience of
our clients in mind.”
Serving a Resurgent Market
A growing number of clients continue
to select Clay Lacy Aviation as their preferred aircraft management company.
During 2015, the company welcomed
seven new planes to its charter and managed fleet, indicating a resurgent corporate aviation market.
These new aircraft exemplify a diverse
offering from Gulfstream, Bombardier,
Embraer, Hawker and Falcon Jet—
enabling Clay Lacy Aviation to accommodate any domestic or international mission. The new additions include a Global
Express, Falcon 2000, Learjet 75, Hawker
800XP and two Gulfstream G550s in Los
Angeles, plus a Falcon 7X and Learjet 60
in Orange County.
“Our clients are showing renewed
excitement about owning and flying
business aircraft,” said Kirkdoffer. “We
combine global partnerships, strong buying power and unequalled experience to
deliver our clients maximum flexibility,
control and value.”
Today, Clay Lacy Aviation’s vision
remains the same as it was in 1968—great
people, providing an exceptional aviation
experience. From being L.A.’s original aircraft services company to assembling the
most experienced team of professionals in
the industry, its achievements are unsurpassed in the world of aviation.
For more information visit claylacy.com
or call (818) 989.2900
In the Cockpit: How to Get Started as the Pilot
No matter what your ultimate goal in aviation is - be it recreational flying or a more
advanced training program - you must start
by getting a private pilot’s license. (Word
to the wise: technically, pilots hold “certificates,” not licenses, to fly, although hardly
anyone except the FAA calls them that.) This
private license allows a pilot to fly a singleengine airplane under visual flight rules
(VFR), meaning visibility of at least three
miles, as well as at night. A private pilot may
carry passengers but may not be paid for
doing so, although the pilot can share operating expenses with the passengers.
Once you have earned a private license,
you can work toward other certificates: a
commercial certificate allows you to be paid
for your flying, a flight instructor certificate
enables you to teach others, and an airline
transport certificate permits you to fly an
airliner. You can also add various ratings
that allow you pilot multi-engine airplanes,
navigate using instruments in bad weather,
and fly different aircraft like seaplanes, gliders, helicopters, and balloons. But before you
even think about doing that, you must get
your basic private license.
The prerequisites for a pilot’s license are
simple enough that almost anyone can earn
one:
•Medical examination. You must pass the
basic medical exam that all applicants
are required to undergo, certifying that
you meet the medical standards for safely
operating an aircraft. This medical exam
is so important, that we’ve devoted the
entire next step to it. To cheat and skip
ahead, click here.
•Language. All applicants for the private
license have to be able to read, speak,
and understand English (the international
language of aviation).
•Age. The FAA says you must be at least
16 years old to fly solo with a student
pilot certificate, and 17 years old to get a
pilot’s license. There is no upper age limit,
provided that you are healthy enough to
pass the basic medical exam discussed
above.
•Time. A private license requires a minimum of 40 hours of flight time, with most
student pilots logging closer to 60-80
hours before their final check ride, as well
as extra time for study on the ground in
preparation for an FAA written test. The
length of your training depends in part on
whether you want to study full- or parttime. Intensive full-time programs can be
completed in as few as two weeks or a
month, while a part-time student typically
takes between four and six months of flying several times a week.
•Money. Learning to fly is an investment
that takes some money as well as time.
While flying is certainly not restricted to
the fabulously wealthy-you can learn to
fly on a budget - it nevertheless is not
an inexpensive endeavor. If you train
part-time at a local airport, for example,
plan on investing in the range of $3,000
to $5,000, with costs varying widely
by region. It is a good idea to consider
whether you have the funds to start
toward and reach your goal within a reasonable time period. Keep in mind that
you do not need to pay for all of your flight
training up front. Most training programs
let you pay as you go, although you might
get a price break by paying for a block of
lessons in advance.
+1 604 278 4604
SEPTEMBER 7, 2015
+1 604 278 4604
SEPTEMBER 7, 2015
member of the Air Charter Safety Foundation, and Advanced Air is ACSF listed.
Thirdly, Advanced Air has received a Platinum rating from ARG/US, the world’s most
prestigious third-party vetting system for
charter operations. This Platinum rating is
granted only to operators who, after completing a rigorous operations, maintenance,
and safety audit by industry experts, demonstrate that their procedures meet what is
considered to be the “best practices.” Less
than 4% of all operators worldwide meet
these safety standards. Ownership, management, and flight line personnel boast over
200 years of combined aviation experience.
“Advanced Air has always prided itself
on having the most up-to-date technology,” said Stockton. “We are moving to an
all Wi-Fi fleet, and have already ungraded
to the most modern avionics, which gives
our pilots access to Synthetic Vision and
digital charts – the best resources available.
Our company’s goal is to provide exceptional customer service while adhering to
our promise of complete safety. Advanced
Air wants our customers to be able to relax
and focus on their destination, rather than
worry about getting there.”
Two other intriguing aspects of
Advanced Air’s business are their sales and
turn-key management of privately owned
aircraft.
“At Advanced Air, our loyalty is to our
clients. Our knowledgeable and experienced team will be sure to match you
with the perfect aircraft or buyer,” said
Stockton.
Advanced Air guides its clients through
every step of the transaction, from the
aircraft search or listing, through the close
of escrow. From day to day management
to weekend or business travel, Advanced
Air covers all processes involved, making
each flight effortless for their clients. They
perform all flight operations and manage
all crew activity, making sure to maximize
safety and security.
“Our customers know that their flight
crew will be the best in the industry, and
that their aircraft will always be closely
monitored and carefully maintained,”
said Stockton.
As an aircraft management company,
Advanced Air offsets cost with charter; the
company works with each aircraft owner
to establish a customized budget to meet
their individual needs.
Hawthorne Airport has always been,
and will continue to be, a valuable asset of
the South Bay. This hidden treasure of an
airport is emerging as a prime location.
“You will not find many FBO’s with the
energy created by Eureka! and the Jet Center Los Angeles team. It’s a special place,”
said Paul Frederick, owner of Eureka!
The two new hangars will be com-
Van Nuys Airport (VNY)
is ranked as one of the world’s
busiest general aviation airports
Tenants offer a full spectrum of aircraft amenities to
accommodate any mission, both domestic and international
As a major economic engine in the San Fernando Valley, VNY:
· Contributes more than $1.3 billion annually to the region’s economy
· Supports over 12,300 direct/indirect jobs
· Serves as a center for aviation-related career
and training opportunities, with resources
for future industry leaders
plete in October 2015, followed by many
future developments on the North side of
the airport.
“We are very thankful to have the
city of Hawthorne as our landlord. Hawthorne is such a business friendly community, and has fostered the growth of
this airport through every step of the
process,” said Stockton.
General aviation is continuing to
grow, making certain that Hawthorne Airport will continue to make considerable
strides in the future.
VN
V
N
NY
Y
818.442.6526
www.lawa.org/vny
NOW OFFERING
U.S. Customs Services
+1 604 278 4604
SEPTEMBER 7, 2015
NOURMAND & ASSOCIATES REALTORS
SOLD
SOLD OFF MARKET
1028 RIDGEDALE DR*
Asking Price:
1023 N ROXBURY DR
Asking Price:
BEVERLY HILLS
$31,900,000
BEVERLY HILLS
$19,750,000
609 E CHANNEL RD*
Asking Price:
SANTA MONICA
$28,500,000
GREEN ACRES
BEVERLY HILLS
Asking Price:
$12,895,000
1619 SAN REMO
Asking Price:
$25,000,000
1188 BROOKLAWN DR
Asking Price:
Asking Price:
BHPO
$9,995,000
610 N ALPINE DR**
Sold Price:
HOLMBY HILLS
$10,000,000
SOLD
SOLD
13319 MULHOLLAND DR
PACIFIC PALISADES
BEVERLY HILLS
$7,665,000
1552 BEL AIR RD*
Sold Price:
BEL AIR
$7,050,000
*Represented Buyer
**Represented Buyer & Seller
Three Offices. One Respected Name.
www.nourmand.com
BEVERLY HILLS
421 N. Beverly Dr. Ste 200
Beverly Hills, CA 90210
BRENTWOOD
11828 San Vicente Blvd.
HOLLYWOOD
6525 Sunset Blvd. Ste G2
T: 310.274.4000
F: 310.278.9900
Manager - Libby Shapiro
T: 310.300.3333
F: 310.300.2000
Manager - Karen Lewis
T: 323.462.6262
F: 323.462.6264
Manager - Howard Lorey
+1 604 278 4604
SEPTEMBER 7, 2015
whose business models marked-to-market
trillions of dollars in “crap” real estate
loans which were worthless long before
the crash ensued. The rapid price declines
and volatility in today’s pre-owned aircraft markets represent a “cleansing” or
correction in the marketplace and is completely rational. Those who say values are
moving too quickly and too unpredictably are missing the point. The aircraft
market values real time transparency, just
like any other market, and today’s corrections in pricing, which occur daily and
weekly, will help balance out supply and
demand issues moving forward. Imagine
if you had to wait several days or even a
week to check the value of your Facebook
stock and then realized that the value
was already out of date. Inability of prices
being able to adjust on a daily or weekly
basis isn’t beneficial but a sign of illiquidity. That makes absolutely no sense at all.
Today’s pre-owned market is a model
of transparency with buyers being much
more educated about pricing. Sellers who
employ knowledgeable brokers to assist
in selling their aircraft have the same
information. Money is rarely left on the
table these days, and prices reflect true
supply and demand conditions. The fact
that prices continue to plunge is a result
of oversupply of aircraft and not anything
tied to “irrational” behavior. Employing
the use of a seasoned aircraft broker who
understands the market in real time is paramount to helping buyers and sellers value
their aircraft and transact strong deals.
Information for this article was provided by
Avjet Corporation. For more information,
visit www.avjet.com
+1 604 278 4604
SEPTEMBER 7, 2015
INVESTMENTS & FINANCE
ECONOWATCH L.A.COUNTY
GENERAL INDICATORS
Employment (000's) (July)1 . . . . . . . . . . . . . . .
Unemployment (000’s) (July)1 . . . . . . . . . . . . .
Film production days (2nd qtr.)2 . . . . . . . . . . . .
Bankruptcies
Chapter 7 (July) . . . . . . . . . . . . . . . . . . . . . . . .
Chapter 11 (July) . . . . . . . . . . . . . . . . . . . . . . .
Latest
period
Previous
period
%± from
previous
period
4,707
379.1
9,396
4,698
373.3
8,707
+0.2%
+1.6%
+7.9%
4,597 +2.4%
452.4 -16.2%
9,574 -1.9%
1,215
13
1,399
9
-13.2%
+44.4%
1,635 -25.7%
19 -31.6%
$10,251
$22,194
-2.9%
+1.4%
$10,905
$24,551
-8.8%
-8.4%
184.4
4.3
-6.5%
+4.7%
166.8
4.7
+3.4%
-4.3%
583.6
721.8
245.5
+18.3%
-3.1%
+0.7%
Previous
period
%± from
previous
period
Trade3
Exports (mils.) (June) . . . . . . . . . . . . . . . . . . . . $9,950
Imports (mils.) (June) . . . . . . . . . . . . . . . . . . . . . $22,496
Air cargo4
LAX (June) . . . . . . . . . . . . . . . . . . . . . . . . . . . 172.5
Burbank (June) . . . . . . . . . . . . . . . . . . . . . . . .
4.5
Container volume5 (000’s)
Long Beach (July) . . . . . . . . . . . . . . . . . . . . . . 690.2
Los Angeles (July) . . . . . . . . . . . . . . . . . . . . . 699.2
Los Angeles CPI (July) . . . . . . . . . . . . . . . . . . . 247.1
Year
ago
%± from
year ago
583.1 +18.4%
717.4 -2.5%
243.7 +1.4%
REAL ESTATE
Latest
period
Construction lending (mils.) (April) . . . . . . . . . $382.3
$467.0
Property acquisition lending6 (mils.) (April) . . . . . . . $2,991.9 $2,556.7
Refinance lending (mils.)7 (April) . . . . . . . . . . . $7,598.3 $7,652.6
Foreclosures
Number (April) . . . . . . . . . . . . . . . . . . . . . . . .
470
430
Value (mils.) (April) . . . . . . . . . . . . . . . . . . . . $266.5
$169.7
Building contracts (mils.)
Residential (July) . . . . . . . . . . . . . . . . . .$1,005.4
$498.3
Nonresidential (July) . . . . . . . . . . . . . . . $389.9
$496.5
Home sales (June) . . . . . . . . . . . . . . . . . . . . . . 4,951
4,467
Home prices (000’s) (June) . . . . . . . . . . . . . . .
$550
$538
Condo sales (June) . . . . . . . . . . . . . . . . . . . . . . 1,815
1,583
Condo prices (000’s) (June) . . . . . . . . . . . . . . .
$425
$418
Apartments (1st qtr.)
Gross occupancy . . . . . . . . . . . . . . . . . . . . . . 95.1%
94.8%
Avg. sq. ft. rent . . . . . . . . . . . . . . . . . . . . . . . $2.34
$2.29
Avg. monthly rent . . . . . . . . . . . . . . . . . . . . . $1,991
$1,949
Year
ago
%± from
year ago
-18.1% $295.0 +29.6%
+17.0% $2,471.8 +21.0%
-0.7% $3,599.9 +111.1%
+9.3%
+57.0%
492
$153.2
-4.5%
+74.0%
+101.8%
-21.5%
+10.8%
+2.2%
+14.7%
+1.7%
$644.1
$347.5
4,549
$525
1,522
$395
+56.1%
+12.2%
+8.8%
+4.8%
+19.3%
+7.6%
+0.3%
+2.2%
+2.2%
94.7%
$2.17
$1,846
+0.4%
+7.8%
+7.9%
Office vacancy rates (2nd qtr.)
Downtown Los Angeles . . . . . . . . . . . . . . . . .
San Fernando Valley . . . . . . . . . . . . . . . . . . .
Westside . . . . . . . . . . . . . . . . . . . . . . . . . . . .
South Bay . . . . . . . . . . . . . . . . . . . . . . . . . . .
Countywide . . . . . . . . . . . . . . . . . . . . . . . . . .
18.3%
14.1%
13.5%
21.7%
16.1%
18.6%
15.2%
14.3%
22.2%
16.7%
-1.6%
-7.2%
-5.6%
-2.3%
-3.6%
19.1%
13.7%
14.6%
21.9%
17.7%
-4.2%
+2.9%
-7.5%
-0.9%
-9.0%
Industrial vacancy rates (2nd qtr.)
Downtown/Central . . . . . . . . . . . . . . . . . . . . .
South Bay . . . . . . . . . . . . . . . . . . . . . . . . . . .
Countywide . . . . . . . . . . . . . . . . . . . . . . . . . .
2.7%
2.4%
2.7%
2.7%
2.9%
3.0%
0.0%
-17.2%
-10.0%
3.3%
5.1%
4.0%
-18.2%
-52.9%
-32.5%
Previous
month
%± from
previous
month
Year
ago
%± from
year ago
TOURISM
Latest
month
Hotel occupancy rate (June) . . . . . . . . . . . . 86.2%
Room rate (June) . . . . . . . . . . . . . . . . . . . .$192.30
Passengers
LAX (000’s) (June) . . . . . . . . . . . . . . . . . . . . . 6,782.5
Burbank (000’s) (June) . . . . . . . . . . . . . . . . . . 337.0
FOOTNOTES
1. Not seasonally adjusted.
2. Music, television, film and commercials quarterly.
3. Through Los Angeles Customs District.
4. In thousands of tons.
82.0%
$183.15
6,356.9
341.2
+5.1%
85.7%
+5.0% $180.67
+0.6%
+6.4%
+6.7%
-1.2%
+4.0%
+2.8%
6,522.2
327.9
5. 20-foot equivalent unit.
6. Apartment and residential combined.
7. Includes refinancings, second mortgages and
equity mortgages.
BOLDFACE INDICATES UPDATED FIGURES
Sources: California State Employment Development Department (employment figures); FilmL.A. Inc. (film permits);
U.S. Bankruptcy Court, Central District of Calif., Los Angeles (bankruptcies); Census.gov (exports, imports); City of
Los Angeles Airport Department (LAX passenger traffic and air cargo); Burbank-Glendale-Pasadena Airport Authority
(Burbank passenger traffic and air cargo); Bureau of Labor Statistics, Los Angeles (Los Angeles consumer price
index); Office of Economic Research at California State University, Redfin (home sales, home prices, condo sales,
condo prices); Dodge Data (building contracts); M/PF Research Inc. (apartments); Jones Lang LaSalle Inc. (office and
industrial vacancy rates); PKF Consulting (hotel occupancy rate, room rate).
+1 604 278 4604
THE LABJ STOCK INDEX
SEPTEMBER 7, 2015
TRACKING LOS ANGELES AREA COMPANIES
WEEKLY TOP LOSERS
WEEKLY TOP GAINERS
California Resources Corp.
TrueCar Inc.
$4.25
Portsmouth Square Inc.
Ceres Inc.
$1.25
$60
$6.25
Sept. 2
Sept. 2
Aug. 26
$6.02
$3.68
$1.20
Aug. 26
$60.00
$3.50
$1.15
$55
$5.50
Sept. 2
$1.07
Sept. 2
$50.00
Aug. 26
Aug. 26
$4.93
$2.80
$2.75
8/26
8/27
8/28
8/31
9/1
$4.75
8/26
9/2
8/28
8/31
9/1
8/26
9/2
TOP TEN LOCAL GAINERS BY PERCENTAGE (with closing prices at least $1)
8/27
8/28
8/31
9/1
8/26
9/2
8/27
8/28
8/31
9/1
9/2
TOP TEN LOCAL LOSERS BY PERCENTAGE (with opening prices at least $1)
Sept. 2
Close
Aug. 26
Close
Price
Change
1-Wk
% Chg.
52-Wk
% Chg.
California Resources Corp. . . . . . . . . . . . . . . . . .$3.68
TrueCar Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6.02
Nova Lifestyle Inc. . . . . . . . . . . . . . . . . . . . . . . . . .2.30
Research Solutions Inc. . . . . . . . . . . . . . . . . . . . .1.00
Rentech Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7.21
Capricor Therapeutics . . . . . . . . . . . . . . . . . . . . . .4.62
General Finance Corp. . . . . . . . . . . . . . . . . . . . . . .3.76
Lion Biotechnologies . . . . . . . . . . . . . . . . . . . . . . .7.02
Real Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.59
Puma Biotechnology . . . . . . . . . . . . . . . . . . . . . .94.44
$2.80
4.93
1.93
0.85
6.37
4.10
3.35
6.32
8.71
86.43
$0.88
1.10
0.37
0.15
0.84
0.52
0.41
0.70
0.88
8.01
31.4%
22.2%
19.2%
17.6%
13.2%
12.7%
12.2%
11.1%
10.1%
9.3%
NA
-74.8%
-50.6%
17.6%
-68.1%
7.4%
-57.7%
-3.8%
NA
-63.6%
Company
$1.05
$50
8/27
Sept. 2
Close
Aug. 26
Close
Price
Change
1-Wk
% Chg.
Portsmouth Square Inc. . . . . . . . . . . . . . . . . . .$50.00
Ceres Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1.07
AeroVironment Inc. . . . . . . . . . . . . . . . . . . . . . . .21.26
Intergroup Corp. . . . . . . . . . . . . . . . . . . . . . . . . .27.16
ReachLocal Inc. . . . . . . . . . . . . . . . . . . . . . . . . . .2.45
Oaktree Cap Group . . . . . . . . . . . . . . . . . . . . . . .51.28
United Online Inc. . . . . . . . . . . . . . . . . . . . . . . . .10.56
Virco Manufacturing . . . . . . . . . . . . . . . . . . . . . . .2.58
Trio Tech International . . . . . . . . . . . . . . . . . . . . . .2.38
LTC Properties Inc. . . . . . . . . . . . . . . . . . . . . . . .39.95
$60.00
1.20
23.41
28.83
2.59
54.00
11.07
2.68
2.47
41.22
-$10.00
-0.13
-2.15
-1.67
-0.14
-2.72
-0.51
-0.10
-0.09
-1.27
-16.7%
-10.8%
-9.2%
-5.8%
-5.4%
-5.0%
-4.6%
-3.7%
-3.6%
-3.1%
Company
MARKET DIARY
52-Wk
% Chg.
42.9%
-74.8%
-36.1%
40.0%
-53.1%
1.4%
-17.4%
-4.1%
-52.6%
-2.8%
MARKET INDEXES
Markets bounced back somewhat during the week ended Sept. 2, as Federal Reserve data showing growth in the U.S.
economy eased some investor concerns. The Dow Jones industrial average rose 0.4 percent to close at 16,351. The
S&P 500 also climbed 0.4 percent to 1,949. The Nasdaq did even better, jumping 1.1 percent to end the week at
4,750. The LABJ Stock Index rose 1.1 percent to 221, with 96 stocks advancing and 58 declining. Chatsworth oil company California Resources Corp. was the week’s biggest gainer. Its shares soared 31 percent as oil prices rose after
weeks of sliding. Commerce furniture manufacturer Nova LifeStyle Inc. also had a strong week. Its stock jumped 19
percent after a trade magazine recognized one of the company’s designs as a top product at a Las Vegas trade show.
Sept. 2
Close
Aug. 26
Close
Point
Change
1-Wk
% Chg.
52-Wk
% Chg.
Dow Jones Industrial . . . . . . . . . . . . . . . . . . . .16,351.38 16,285.51
Nasdaq . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4,749.98 4,697.54
S&P 500 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1,948.86 1,940.51
LABJ Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .220.78
218.36
65.87
52.44
8.35
2.42
0.4%
1.1%
0.4%
1.1%
-4.2%
3.3%
-2.7%
6.5%
Index
DIVIDEND YIELD
MARKET SUMMARY
MOST ACTIVE STOCKS
WEEKLY SUMMARY
VOLUME
Company
Advances . . . . . . . . . . . . . . . . . . . .96
Declines . . . . . . . . . . . . . . . . . . . . .58
Unchanged . . . . . . . . . . . . . . . . . . . .4
New Highs . . . . . . . . . . . . . . . . . . . .2
New Lows . . . . . . . . . . . . . . . . . . . .4 .
Activision Blizzard Inc. . . . . . . . . . . . . . . . . . .34,936,020
Medbox Inc. . . . . . . . . . . . . . . . . . . . . . . . . . .16,280,770
Walt Disney Co. . . . . . . . . . . . . . . . . . . . . . . .13,004,840
California Resources Corp. . . . . . . . . . . . . . . .7,778,308
Mattel Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . .5,855,597
Dividend Yield
Dividend
BreitBurn Energy Partners LP . . . . . . . . . . . . . . .18.6%
PennyMac Mortgage Investment Trust . . . . . . . .16.4%
Anworth Mortgage Asset Corp. . . . . . . . . . . . . . .11.8%
TCP Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.2%
Tix Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9.1%
Weekly Close
$0.50
2.44
0.60
1.44
0.20
$2.69
14.86
5.09
15.62
2.22
LABJ STOCK INDEX
LABJ Stock Index, 52 weeks
LABJ Stock Index v. S&P 500, 5 days
LABJ Stock Index v. S&P 500, 52 weeks
250
3.5%
20%
S&P 500
LABJ Stock Index
3.0%
240
15%
2.5%
230
S&P 500
LABJ Stock Index
2.0%
Sept. 2
220
10%
1.5%
220.78
1.0%
5%
210
0.5%
200
0.0%
0%
-0.5%
190
-1.0%
180
-5%
-1.5%
-2.0%
170
S
O
N
D
J
F
M
A
M
J
J
A
S
-10%
8/26
8/27
8/28
8/31
9/1
9/2
S
O
N
D
J
F
M
A
M
J
J
A
S
Note: The LABJ Stock Index includes all companies on the opposite page and is weighted by market cap.
For more information please contact:
James Hillman, Managing Director (310) 551-7660
Data provided by Bloomberg, a source considered to be reliable. However, the information in this feature may not be complete
and cannot be guaranteed. The information provided in this feature does not constitute the provision of investment advice.
+1 604 278 4604
SEPTEMBER 7, 2015
THE LABJ STOCK INDEX
Sept. 2
Close
1-Wk
% Chg.
YTD
% Chg.
52-Wk
% Chg.
P.E.
Ratio
Mkt. Cap
AeroVironment Inc. (L)
AVAV
$21.26
-9.2%
-22.0%
-36.1%
491.0
$500.4
Ducommun Inc.
DCO
23.13
-1.0%
-8.5%
-21.1%
38.1
256.3
Flamemaster Corp.
FAME
10.75
0.0%
33.5%
20.8%
23.0
13.5
Teledyne Technologies Inc.
TDY
95.55
-0.8%
-7.0%
-2.2%
17.6
3,381.8
Wesco Aircraft Holdings Inc.
APPAREL
WAIR
13.95
0.1%
-0.2%
-24.9%
14.9
1,362.3
American Apparel Inc.
APP
0.18
1.5%
-82.3%
-82.0%
NA
33.2
Cherokee Inc.
CHKE
25.69
-1.0%
32.7%
47.4%
22.5
222.7
Guess Inc.
GES
22.39
5.1%
6.2%
-4.4%
17.5
1,918.7
Joe's Jeans Inc.
JOEZ
0.17
-8.2%
-50.2%
-84.3%
NA
11.5
SKX
139.38
1.5%
152.3%
127.6%
33.9
7,373.4
MPAA
32.65
8.7%
5.0%
6.8%
27.3
593.5
Company
Name
(millions)
AEROSPACE/DEFENSE
Skechers U.S.A. Inc.
AUTOMOTIVE/PLASTICS/METALS
Motorcar Parts of America Inc.
RS
57.70
4.3%
-5.8%
-18.1%
11.8
4,239.2
Superior Industries International Inc.
SUP
18.80
-0.2%
-5.0%
-5.4%
26.9
499.9
PRTS
2.13
4.9%
-9.0%
-29.7%
NA
72.4
Amgen Inc.
AMGN
152.29
-1.1%
-4.4%
10.4%
Arrowhead Research Corp.
ARWR
5.83
5.4%
-21.0%
-62.0%
NA
346.9
Capricor Therapeutics
CAPR
4.62
12.7%
23.2%
7.4%
NA
75.1
Ceres Inc.
CERE
1.07
-10.8%
-44.3%
-74.8%
NA
9.4
CytRx Corp.
CYTR
2.38
9.2%
-13.1%
-29.8%
NA
158.2
Immunocellular Therapeutics
IMUC
0.43
10.3%
-41.1%
-56.6%
NA
38.8
Kite Pharma
KITE
54.26
5.3%
-5.9%
102.3%
NA
2,373.0
Kythera Biopharmaceuticals
KYTH
74.77
0.1%
115.6%
100.0%
NA
1,966.5
Lion Biotechnologies
35.8
1,384.5
Molina Healthcare Inc.
MOH
73.20
-1.8%
36.7%
58.2%
31.8
4,103.3
RDNT
6.13
-3.0%
-28.2%
-9.6%
31.5
272.6
WOOF
55.01
-1.1%
12.8%
35.2%
26.4
4,464.2
VCA Inc.
INSURANCE
Unico American Corp.
INTERNET
Boingo Wireless Inc.
6.9%
NA
-61.1%
NA
5.6
J2 Global Inc.
JCOM
66.83
-1.2%
7.8%
24.3%
27.8
3,237.1
ReachLocal Inc. (L)
RLOC
2.45
-5.4%
-28.8%
-53.1%
NA
71.9
Rubicon Project
RUBI
15.06
4.9%
-6.7%
52.6%
NA
660.2
LOV
3.14
-0.9%
-12.5%
-40.3%
16.4
79.0
STMP
80.93
4.6%
68.6%
140.4%
29.3
1,334.5
Spark Networks Inc.
Stamps.com Inc.
TrueCar Inc.
TRUE
6.02
22.2%
-73.7%
-74.8%
NA
495.9
United Online Inc.
UNTD
10.56
-4.6%
-27.4%
-17.4%
12.5
156.0
VPIG
0.32
77.2%
-18.2%
-68.7%
NA
38.0
5,255.8
Virtual Piggy
MANUFACTURING
Avery Dennison Corp.
AVY
57.48
-0.3%
10.8%
19.4%
17.2
Farmer Bros Co.
FARM
22.63
3.3%
-23.2%
-5.7%
51.1
376.5
Jakks Pacific Inc.
JAKK
9.55
2.0%
40.4%
37.0%
24.4
218.3
Mattel Inc.
MAT
22.93
5.4%
-25.9%
-33.7%
16.3
7,764.4
Nova Lifestyle Inc.
NVFY
2.30
19.2%
-18.1%
-50.6%
9.1
55.2
OSI Systems Inc.
OSIS
73.50
2.2%
3.9%
8.0%
20.5
1,452.3
NA
NA
1,555.4
Puma Biotechnology
PBYI
94.44
9.3%
-50.1%
-63.6%
NA
3,051.4
Ritter Pharmaceuticals Inc.
RTTR
3.23
4.9%
NA
NA
NA
25.2
Second Sight
EYES
9.17
0.3%
-10.6%
NA
NA
328.5
Crown Media Holdings Inc. (H)
Staar Surgical Co.
STAA
7.60
-2.3%
-16.6%
-35.0%
NA
302.5
Daily Journal Corp.
XNCR
17.63
2.0%
9.9%
66.5%
NA
713.5
13.4
176.6
2255.9
1,211.9
MRV Communications Inc.
MRVC
20.38
3.6%
105.2%
56.8%
NA
141.8
PCM Inc.
PCMI
9.63
2.0%
1.2%
-12.3%
42.9
115.3
Qualstar Corp.
QBAK
1.06
7.1%
-19.7%
-11.8%
NA
13.0
Semtech Corp.
SMTC
16.54
1.3%
-40.0%
-37.5%
33.5
1,098.9
TAIT
0.98
4.2%
-1.3%
-2.5%
NA
5.4
TRT
2.38
-3.6%
-18.2%
-52.6%
16.9
8.4
Aecom
ACM
26.60
1.7%
-12.4%
-29.2%
17.0
4,015.8
Jacobs Engineering Group Inc.
JEC
39.97
6.3%
-10.6%
-25.5%
12.0
4,948.2
Tetra Tech Inc.
TTEK
25.60
1.2%
-4.1%
0.7%
20.3
1,541.3
TPC
16.86
0.6%
-30.0%
-45.6%
10.3
827.3
AWR
37.16
1.0%
-1.3%
15.2%
23.0
1,383.9
BNKPF
0.36
8.6%
8.1%
-68.0%
NA
58.7
American States Water Co.
BNK Petroleum Inc.
BreitBurn Energy Partners LP
BBEP
2.69
7.6%
-61.6%
-88.3%
1.5
569.5
California Resources Corp.
CRC
3.68
31.4%
-33.2%
NA
6.0
1,421.9
Capstone Turbine Corp.
CPST
0.38
7.8%
-48.0%
-68.8%
NA
158.9
EIX
57.54
-2.0%
-12.1%
-1.9%
12.5
18,747.2
Edison International
FINANCIAL SERVICES
1st Century Bancshares Inc.
FCTY
7.80
-2.6%
22.8%
4.7%
39.0
A-Mark Precious Metals
AMRK
10.50
1.4%
5.3%
-9.3%
12.4
73.1
American Business Bank
AMBZ
29.35
-0.5%
5.7%
14.7%
16.1
174.2
Anworth Mortgage Asset Corp.
ANH
5.09
1.6%
-3.0%
-1.2%
7.9
522.5
Ares Management
ARES
16.96
4.0%
-1.1%
-6.4%
NA
3,588.7
RILY
9.75
-2.5%
-1.5%
21.6%
12.3
159.0
Bank of Santa Clarita
BSCA
9.50
1.1%
3.8%
4.9%
NA
20.9
BBCN Bancorp
BBCN
14.19
-0.8%
-1.4%
-3.7%
12.7
1,128.4
Broadway Financial Corp.
BYFC
1.44
-2.0%
9.9%
9.9%
9.6
41.9
Cathay General Bancorp
CATY
29.09
1.1%
13.7%
8.8%
15.3
2,403.0
City National Corp.
CYN
86.52
-0.1%
7.1%
13.0%
20.0
4,823.5
Colony Financial Inc.
CLNY
21.62
0.4%
-9.2%
-3.7%
34.0
2,414.9
Commonwealth Business
CWBB
11.48
-0.6%
-0.2%
3.0%
8.6
58.3
CU Bancorp
CUNB
21.87
3.7%
0.8%
16.4%
21.1
369.4
East West Bancorp Inc.
EWBC
39.03
1.2%
0.8%
10.5%
14.6
5,614.5
Farmers & Merchants Bank
FMBL 6,100.00
1.6%
0.7%
-1.2%
12.2
798.7
General Finance Corp.
Real Industry
RELY
9.59
10.1%
NA
NA
NA
269.9
Reed's Inc.
REED
5.20
1.4%
-12.0%
-14.6%
NA
68.2
VIRC
2.58
-3.7%
5.7%
-4.1%
23.9
38.3
ATVI
28.37
4.0%
40.8%
19.5%
22.2
20,682.3
CRWN
4.91
8.4%
38.7%
43.6%
16.3
1,766.0
DJCO
194.00
-0.5%
-26.2%
-1.0%
NA
267.9
Demand Media Inc.
DMD
4.56
-2.6%
-25.5%
-49.4%
NA
91.2
DreamWorks Animation SKG Inc.
DWA
20.15
2.0%
-9.8%
-10.9%
NA
1,729.3
DTS Inc.
DTSI
28.41
7.7%
-7.6%
19.4%
51.4
490.1
Entravision Communications Corp.
EVC
7.59
2.0%
17.1%
66.8%
26.6
668.5
Global Eagle Entertainment
ENT
11.06
-1.7%
-18.7%
-15.0%
NA
853.3
Lions Gate Entertainment Corp.
LGF
37.05
1.3%
15.7%
12.3%
27.3
5,494.6
Live Nation Entertainment Inc.
LYV
24.34
0.3%
-6.8%
7.2%
NA
4,925.5
MGM Holdings Inc.
MGMB
78.25
0.0%
6.8%
2.6%
NA
4,208.5
Point.360
PTSX
0.92
-7.9%
129.9%
64.4%
NA
9.7
RDI
12.82
-0.2%
-3.3%
48.6%
8.7
298.8
501.1
Virco Manufacturing
MEDIA/LEISURE/ENTERTAINMENT
Activision Blizzard Inc. (H)
Reading International Inc.
RealD Inc.
RLD
9.84
6.8%
-16.6%
5.2%
NA
Research Solutions Inc.
RSSS
1.00
17.6%
19.0%
17.6%
NA
18.1
Salem Communications Corp.
SALM
6.32
2.3%
-19.2%
-20.9%
18.9
160.9
Tix Corp.
TIXC
2.22
3.3%
53.1%
82.0%
8.3
40.4
Walt Disney Co.
MISC. SERVICES
DIS
101.89
2.7%
8.2%
12.2%
Air Lease Corp.
79.4
B. Riley Financial Inc.
273.4
-3.7%
NA
57.8%
53.4
-51.5%
0.5%
58.7%
2,773.7
NA
-0.7%
19.40
30.4%
26.4
-16.0%
-11.0%
NK
35.1%
-2.0%
-12.6%
0.05
331.3
0.1%
-11.3%
5.7%
7.39
1,594.0
1.2%
-1.8%
WIFI
NA
6.91
50.28
10.00
CRWG
NA
15.20
MCY
UNAM
CrowdGather Inc.
-3.8%
Tutor Perini Corp.
ENERGY/UTILITIES
21.1 171,975.9
AL
31.35
0.6%
-8.6%
-19.4%
12.3
3,215.9
Cadiz Inc.
CDZI
7.64
-1.4%
-31.8%
-38.9%
NA
136.2
Electro Rent Corp.
ELRC
10.62
2.6%
-24.4%
-30.0%
16.8
256.0
Korn/Ferry International
KFY
33.83
2.0%
17.6%
10.3%
17.8
1,744.7
29.8
Marathon Patent Group
MARA
2.08
1.5%
-75.3%
-63.2%
NA
Medbox Inc.
MDBX
0.10
-30.5%
-98.1%
-99.1%
NA
7.5
NetSol Technologies Inc.
NTWK
4.58
-0.9%
9.8%
44.0%
NA
46.8
On Assignment Inc.
ASGN
35.42
-0.1%
6.7%
19.7%
24.0
1,864.5
Rentech Inc.
RTK
7.21
13.2%
-42.8%
-68.1%
NA
165.9
UTi Worldwide Inc.
REAL ESTATE
UTIW
6.81
1.3%
-43.6%
-25.1%
NA
721.9
Alexandria Real Estate Equities Inc.
ARE
85.34
-2.5%
-3.8%
7.9%
48.3
6,170.7
American Homes 4 Rent
AMH
15.75
2.0%
-7.5%
-11.9%
NA
3,330.9
CBRE Group Inc.
CBG
32.33
0.6%
-5.6%
1.7%
21.2
10,771.7
Douglas Emmett Inc.
DEI
27.77
-0.6%
-2.2%
-3.0%
83.4
4,062.5
Hudson Pacific Properties Inc.
HPP
28.18
-1.8%
-6.3%
4.9%
563.6
2,521.8
Intergroup Corp.
INTG
27.16
-5.8%
54.2%
40.0%
15.1
64.7
KB Home
KBH
14.42
3.4%
-12.9%
-18.4%
18.0
1,326.9
Kennedy-Wilson Holdings Inc.
KW
23.77
3.3%
-6.0%
-9.4%
NA
2,683.2
Kilroy Realty Corp.
KRC
64.22
-1.5%
-7.0%
1.3%
47.6
5,921.6
LMRK
15.53
5.3%
-8.2%
NA
NA
168.4
LTC Properties Inc.
LTC
39.95
-3.1%
-7.5%
-2.8%
20.2
1,421.0
Macerich Co.
MAC
75.74
0.4%
-9.2%
15.6%
7.4
11,991.2
Marcus & Millichap
MMI
42.48
-0.4%
27.8%
38.6%
27.1
1,576.3
Portsmouth Square Inc.
PRSI
50.00
-16.7%
75.4%
42.9%
NA
36.7
PS Business Parks Inc.
PSB
73.42
1.3%
-7.7%
-6.9%
16.0
1,980.3
Public Storage
PSA
202.35
-0.4%
9.5%
15.4%
35.3
34,999.9
Rexford Industrial Realty
REXR
13.01
0.2%
-17.2%
-12.5%
NA
722.4
Ryland Group Inc.
RESTAURANTS/RETAIL/GROCERY STORES
RYL
43.21
2.0%
12.1%
16.8%
12.9
2,024.5
Landmark Infrastructure
GFN
3.76
12.2%
-61.6%
-57.7%
12.9
98.1
Green Dot Corp.
GDOT
17.27
-0.7%
-15.7%
-10.5%
15.9
899.3
Hanmi Financial Corp.
HAFC
23.72
-0.3%
8.8%
14.3%
15.6
758.5
HLI
22.75
6.2%
NA
NA
NA
1,488.0
Malaga Financial Corp.
MLGF
22.00
-0.5%
1.1%
9.5%
11.8
128.4
Mission Valley Bancorp
MVLY
6.85
3.0%
12.3%
13.2%
NA
17.1
NCAL Bancorp
NCAL
0.61
0.0%
22.0%
41.9%
NA
1.4
Oaktree Cap Group
OAK
51.28
-5.0%
-1.1%
1.4%
NA
7,897.9
Pacific Commerce Bank
PFCI
6.25
0.0%
11.6%
27.0%
NA
27.9
Big 5 Sporting Goods Corp.
BGFV
11.37
7.4%
-22.3%
11.8%
14.9
252.3
PACW
41.11
-1.2%
-9.6%
-2.9%
14.1
4,195.8
Cheesecake Factory Inc.
CAKE
53.65
-0.4%
6.6%
19.8%
24.3
2,633.2
PennyMac Mortgage Investment Trust (L) PMT
14.86
-2.6%
-29.5%
-32.3%
10.0
1,111.7
DineEquity Inc.
Preferred Bank
PFBC
30.44
-0.4%
9.1%
26.9%
15.3
403.9
Houlihan Lokey
13.5
64.0%
-46.7%
Trio Tech International
CONSTRUCTION/ENGINEERING
13.3%
73.2%
-26.2%
Taitron Components Inc.
50.2%
-10.8%
XXIA
$5,235.3
(millions)
0.6%
5.5%
EMKR
Mkt. Cap
6.2%
11.1%
Ixia
P.E.
Ratio
79.50
3.85
Emcore
52-Wk
% Chg.
$56.61
7.02
Xencor Inc.
COMPUTERS/PERIPHERALS/ELECTRONICS
YTD
% Chg.
HLF
LBIO
NantKwest (L)
1-Wk
% Chg.
IPCM
MNKD
MannKind Corp.
18.5 115,473.9
Sept. 2
Close
IPC Healthcare Inc.
RadNet Inc.
Ticker
TOP LOSERS
Herbalife Ltd.
Mercury General Corp.
Reliance Steel & Aluminum Co.
US Auto Parts Network Inc.
BIOMEDICAL / PHARMACEUTICAL
TOP GAINERS
TRACKING LOS ANGELES AREA COMPANIES
Ticker
Company
Name
PacWest Bancorp
TCP Capital
TCPC
15.62
2.6%
-6.9%
-10.8%
9.7
764.7
Wilshire Bancorp Inc.
HEALTH CARE
WIBC
10.38
0.8%
2.5%
6.8%
12.5
815.1
Health Net Inc.
HNT
63.12
-2.7%
17.9%
34.5%
29.0
4,878.3
DIN
94.65
-2.0%
-8.7%
12.3%
19.8
1,786.2
SFS
16.63
6.3%
5.7%
NA
29.3
1,226.7
Cornerstone OnDemand Inc.
CSOD
36.16
1.4%
2.7%
-4.8%
NA
1,959.9
Guidance Software Inc.
GUID
7.01
1.2%
-3.3%
-7.0%
NA
212.7
Simulations Plus Inc.
SLP
6.71
4.4%
0.4%
0.6%
29.3
113.3
Smart & Final
SOFTWARE
NOTES ON STOCK TABLES (H) Stock hit new 52-week high (L) Stock hit new 52-week low (S) Stock split during week
+1 604 278 4604
40
REAL ESTATE
SEPTEMBER 7, 2015
Investors Move Into Residential on Miracle Mile
ACQUISITION: Partnership
buys $41 million property;
plans corporate housing.
I
T’S
a sign that Pacific Rim investors are
interested in locations outside of downtown Los Angeles, sometimes at an
extreme premium.
A joint venture of Singapore’s Maple
Group and West L.A. corporate housing developer Oakwood Worldwide have purchased an
89,600-square-foot, 60-unit Class A multifamily apartment building at 5659 W. Eighth St. on
the Miracle Mile late last month for a whopping $41 million, or roughly $683,000 a unit,
according to real estate sources. The seller was
New York insurance firm Metlife Inc.
The property last traded hands in March of
last year for less than $32 million, or roughly
$533,000 a unit, according to company filings
from UDR Inc., which had been a joint venture partner with Metlife in the property.
Maple, a real estate firm that manages four
Singapore-listed real estate investment trusts
and six private equity real estate funds,
acquired a 49 percent stake in Oakwood Asia
Pacific last year and inked a joint-venture
agreement with Oakwood Worldwide to
acquire and develop a portfolio of Oakwoodbranded properties in Asia and the United
States. This is the joint venture’s sixth property acquisition, but its first in Los Angeles.
Kristin Zimmerman, Oakwood’s vice
president of real estate investments, said the
partners planned to turn the luxury apartment
complex into furnished corporate housing.
“Los Angeles is one of the largest markets
Purchased: Miracle Mile apartments.
for corporate housing, and the Miracle Mile
building is a great location because people
like to be between downtown L.A. and (the
Westside),” she said.
The building is fully occupied, according to
CoStar Group Inc., by residents with yearlong
leases that end at different times. Oakwood will
take over those leases after their terms end, and
will furnish and rent them to corporate clients
as they become available, rather than waiting
for the entire complex to turn over.
Rates will be based on the market at the
time the leases turn over and how much business the corporate client has with Oakwood,
Zimmerman said.
Pasadena Profit
IRA Realty Capital saw a $6 million gain
late last month when it sold a Pasadena medical office property it acquired just last year.
While it might scream “flip,” the five-yearold Newport Beach private equity firm was
approached by a partnership led by Tucson,
Ariz., real estate investment firm Holualoa
Cos. interested in the Thatcher Medical
Building at 960 E. Green St.
The buyers shelled out almost $28 million,
or roughly $400 a square foot, for the 73,600square-foot Class B medical office building,
designed in the New Orleans colonial style. The
off-market deal was completed without brokers.
IRA paid $21.6 million, just under $300 a
square foot, when it bought the property in
March of last year.
“We decided to sell after we got an unsolicited offer and felt it was a good return for
our investors,” said Jay Gangwal, a principal
at IRA. “I think we were well on our way
towards stabilizing and reselling the asset in
the first quarter of next year.”
When IRA purchased the building, it was
only 78 percent leased, according to a company
memo. The firm put in a new management
team and amped up leasing efforts. It is now 94
percent leased, according to data from CoStar.
Holualoa did not respond to requests for
comment.
Gangwal said the firm made the purchase
in partnership with local developer Patrick
Chraghchian, president of Glendale’s
American General Constructors.
Chraghchian could not be reached for
comment.
“There is potential development opportunity … so we felt like we were leaving
money on the table, which we were OK
with,” Gangwal said.
This is not Holualoa’s first purchase in Los
Angeles. The firm bought the Pacific Center in
downtown L.A.’s Central Business District for
$36 million, or $90 a square foot, in 2003, and
sold it two years later after making improvements for $66.3 million, or $160 a square foot.
REAL
ESTATE
HANNAH
MIET
Hollywood Sale
Mid-Wilshire’s CIM Group has sold a
seven-story, 87,000-square-foot Class A office
building at 1800 N. Highland Ave.
Sources familiar with the transaction said
the buyer, Behzad Souferian of West L.A.
firm Souferian Group, paid about $45 million for the property and that he plans to
reposition the office building.
Souferian Group, which did not respond to
requests for comment, has acquired, renovated and repositioned L.A. office buildings in
the past, including a five-story, 35,270square-foot Class A office building at 8075
W. Third St. in West Hollywood, which it
sold to L.A. real estate investment firm
Continental Development Inc. for almost
$20 million, or $550 a square foot, in June. It
purchased the building in 2013 for $9.2 million, or $272 a square foot.
CIM, which acquired the Hollywood property in 2004, renovated and repositioned the
building for creative office space, replacing
the façade with a glass-and-steel structure and
demolishing interior walls to create open
floor plans.
Staff reporter Hannah Miet can be reached at
[email protected] or (323) 5495225, ext. 228.
PROPERTIES FOR SALE & LEASE
FOR SALE
PRIME VENICE LOCATION
RETAIL/AUTO
• 2,056 s. f. building
• 6,500 s. f. lot
• Owner-User
B. Hart
(310) 966-4359
FOR SALE
10.37% IRR
6082 ATLANTIC AVE. LONG BEACH CA
FOR SALE
LAX ADJACENT
• NNN Multi-Tenant Retail
• $9,350,000
C. Holland/
P. Sheekey/L. Palmo
(310) 478-7700
FOR SALE
PLAZA BORUNDA
120 134 N. 1ST STREET LA PUENTE CA
• 5 unit multi-tenant building
• NNN long term leases
• 77% Occupied
John Gessford
949-930-6292
[email protected]
Need more information on advertising your property?
Call Rosz Murray at 323.549.5225 ext. 215
• 17 units of Retail, Office, Apartments
• 6.93% Stabilized Cap Rate
• $2,275,000
John Gessford
949-930-6292
[email protected]
+1 604 278 4604
SEPTEMBER 7, 2015
BUSINESS MARKETPLACE
REAL ESTATE
EMPLOYMENT OPPORTUNITIES
BLDG FOR LEASE
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Attn: Commercial Building
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sound start-up of new processes. Assess the feasibility and soundness
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Position requires a Bachelor’s degree in Electronics, Electronics
Engineering, Industrial Engineering, or a closely related field, and five
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travel required for internal customer visits and product studies, including
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the medical device manufacturing plant. Please submit your resume
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+1 604 278 4604
SEPTEMBER 7, 2015
‘No one who has made a reservation has questioned the price
because if you want that level of service, this is what you get.’
JONATHAN GENTON, Genton Property Group
Real Estate: $50 Million Penthouse Hits New High
Seasons Los Angeles at Beverly Hills hotel.
The amenity-heavy project, from West
Hollywood developer Genton Property
Group and Four Seasons Private
Residences, the residential arm of the Torontoheadquartered global hotel chain, will break
ground next month.
The most expensive penthouse in L.A. history will occupy the entire top floor and
include the 9,000-square-foot roof of the property, which no other residents will be able to
access, allowing for a customizable private
garden, with, say, an orange grove as well as a
glass-bottomed swimming pool, the location
for which was chosen after architecture firm
RTKL conducted studies on where sunlight
hits the roof every day of the year.
Monthly fees for the penthouse will run
$5,000 a month, about 25 percent more than the
fees at most other luxury condo projects in Los
Angeles. They will cover, among other things,
an on-call chef to cook meals and an on-call
trainer to tone glutes in the privacy of your
condo (or in training rooms downstairs at a
3,100-square-foot gym designed by celebrity
trainer Harley Pasternak); access to a “director’s cut” movie theater; and the use of a “Great
Room,” where residents can host catered parties that spill onto the building’s shared pool
deck. The purchase of the penthouse also will
include a private, guarded entrance to a six-car
garage that will lead directly to a private elevator to the unit, allowing owners to remain
unseen by, say, the paparazzi, as they ascend to
the private roof with views from downtown Los
Angeles to the South Bay.
Before the project was marketed or even
publicized, 30 percent of the units were
reserved, a full two years before move-in.
Larger units, including the penthouse and the
$18 million to $20 million half-floor flats, have
seen more interest than the less expensive
units, the cheapest of which costs $2.5 million.
Half-floor units will run around 5,000 square
feet, plus a 400-square-foot deck – $3,600 to
$4,000 a square foot for living spaces. (The
median price per foot for a condo in Los
Angeles County in June was $353 a foot.) The
smallest unit in the building will be 1,300
square feet, more than $1,900 a square foot.
Many familiar with the luxury condo circuit
say the demand for this kind of high-end project in Los Angeles is high because there’s very
little new product and high-net-worth buyers
with primary residences elsewhere seek exclusivity and a hassle-free lifestyle.
“To sum it up, we offer every imaginable
amenity,” said Paul White, senior vice president of residential for Four Seasons Hotels and
Resorts.
“It mimics (having) a private staff in your
residence,” said Jonathan Genton, founding
partner of Genton Property Group. “No one
who has made a reservation has questioned the
price because if you want that level of service,
this is what you get.”
Cost of exclusivity
When Candy Spelling, widow of television producer Aaron Spelling and mother of
actress Tori Spelling, sold the 56,000-squarefoot Spelling Manor – which had three rooms
explicitly for the purpose of gift-wrapping –
and downsized to an 18,000-square-foot penthouse at Related Co.’s Century project in
Century City in 2010, the $35 million price tag
took most people’s breath away.
The Spelling condo will remain the priciest
From Ground Up: At top, Paul White, left, and Jonathan Genton at the site of high-price condominium project Four Seasons
Private Residences Los Angeles. Rendering of a rooftop patio atop the $50 million penthouse.
in Los Angeles – until the Four Seasons unit
closes.
The project was designed to be exclusive,
which is shorthand for expensive. It was entitled for 90 units, but Genton sought a higher
return by building fewer units and selling at a
higher price.
The developers weren’t looking to match
the pricing of other condos in Los Angeles.
They aimed to rise above it, looking to New
York, where Four Seasons residences trade in
excess of $60 million.
“We were looking to set the bar,” White
said, adding that a Four Seasons residence car-
ries a “brand premium” in excess of 30 percent
higher than the typical cost of a luxury property in that market.
“I’ve always thought of a penthouse as the
ultimate home, the house at the top of the mountain,” said Steve Heiferman of Hilton &
Highland, who created the Luxury
Condominium Group with his wife, Karen, in
1978 and has specialized in selling luxury condos
on the Westside ever since. “If you went back in
history, the person at the top of the mountain had
the biggest home. … So part of the attraction to
the penthouse is bragging rights.”
Privacy is part of the exclusivity factor and
a lot of that is in the design. At the Four Seasons
Private Residences Los Angeles, all buyers
have the option for private garages, said Kelly
Farrell, a vice president at RTKL. There will
be no need to hit the lobby for any amenity on
offer, she said, leaving paparazzi in the dark.
The project was designed above grade, so that
even the lower units will be taller than the site
lines of people in nearby houses. Additionally,
every unit will have a patio landscaped for privacy, such as a hedge. The shared pool deck
was designed in a way to prevent views of resPlease see DEVELOPMENT page 43
+1 604 278 4604
SEPTEMBER 7, 2015
Internet: Dot-Law Domain Name Courts Attorneys
dot-law domain name next month.
International law firms DLA Piper and
Skadden Arps Slate Meagher & Flom last
month became among the first to secure a dotlaw domain, and Minds + Machines anticipates others will be quick to follow suit.
Lou Andreozzi, who oversees dot-law
sales for the company, said he expects to register more than 100,000 names within the next
two years.
“We have significant interest coming in
from virtually every corner of the United
States as well as the United Kingdom, Asia
and continental Europe,” he said.
At the same time, consumers are accustomed to visiting websites ending in dot-com
and it’s hard to say whether many will embrace
the new options.
Jonathan Fitzgarrald, managing partner
of Beverly Hills legal marketing firm Equinox
Strategy Partners, said he’s not convinced
consumers will gravitate toward new domain
names, such as those ending in dot-law.
“If you’re a law firm or lawyer, anything
other than using the dot-com extension, I think
causes confusion,” Fitzgarrald said. “I think
there are plenty of (dot-com) options still available if firms will get creative. They might not
get their first option, but their second or third
options are good enough.”
Still, even if they won’t actively use the
name as their primary Web identity, it might
pay for law firms to claim that Internet real
estate before someone else does.
To that end, some of L.A.’s largest firms are
at least considering a dot-law domain name.
Julie Fei, a spokeswoman for O’Melveny
& Myers, said her firm has not yet applied for
a dot-law domain, but it could do so eventually. Meantime, Latham & Watkins, a longtime
rival of O’Melveny’s, is actively considering
its options.
“A law firm will certainly want to make it
easy for clients and prospective clients to
find us, so the dot-law option is something
New Address: Antony Van Couvering at Minds + Machines Group in November.
we will explore,” said Latham spokesman
Frank Pizzurro.
Big winner?
Minds + Machines, which is publicly traded
on the London Stock Exchange but houses its
U.S. operations in Culver City, launched its first
batch of top-level domains – such as dot-beer,
dot-surf and dot-cooking – last September. Its
most successful has been dot-work, which
launched in February and had more than
20,000 registrations within two months.
Chief Executive Antony Van Couvering
said his company’s dot-law domain names are
poised to be even more successful.
“Preliminary indications show there is a
very, very strong interest compared to the other
ones we’ve launched so far,” Van Couvering
said. “Typically our job is to get people
informed and tell them about it, and usually
there are a lot of questions. But in this case,
people are getting it immediately.”
Unlike the company’s other domain name
options, there is a verification process that
must take place before Minds + Machines will
sell a dot-law name, Van Couvering said.
Specifically, the company will ensure the
lawyer or law firm is certified to practice law.
For example, local attorneys must be a member of the State Bar of California in good
standing before they can purchase a dot-law
domain name.
The price to secure a website ending in dotlaw starts at $210 a year, which includes a $10
verification fee, Van Couvering said.
Premium domain names, such as Divorce.law
and Immigration.law, will be auctioned shortly
after the general availability period begins Oct.
12. Andreozzi said premium domain names will
command much higher prices, though he wouldn’t provide specific figures.
“The economics are important,” he said,
“but we want to make sure they get in the
hands of the right people to make sure we build
the dot-law brand.”
Darren Kavinoky, who has law offices in
Century City and Encino, is no stranger to the
importance of building a brand. The criminal
defense lawyer has spent hundreds of thousands of dollars to market his legal services
with the “NoCuffs” trademark. Today, he owns
the website NoCuffs.com and 1-800-NoCuffs
toll-free number.
Even so, Kavinoky said he doesn’t see
much value in the dot-law domain names.
What’s more, the only reason he would consider buying NoCuffs.law is to prevent a competitor from getting it.
Years ago, before he launched his NoCuffs
brand, Kavinoky said he wanted to use the
phone number 1-800-Got-A-DUI. It wasn’t
available, he recalled, so he settled for 1-866Got-A-DUI.
“It wasn’t producing the results I wanted,”
he said. “I remember at a conference, the guy
who owned 1-800-Got-A-DUI rushed up to
me and gave me a big hug because I was driving in so much business for him.”
That’s because, Kavinoky said, consumers
automatically think of 1-800 when they think
of toll-free numbers. In the same way, he
expects consumers will naturally type dot-com
at the end of a domain name.
But at the end of the day, he said, Minds +
Machines is likely to profit from its dot-law
options.
“There’s massive scarcity associated with
the domain world – because there’s only one
of each domain name – and I think that’s one
of the reasons the company that owns it is
going to be the big winner here,” Kavinoky
said. “The firms that have money to spend,
they’re going to make a fear-based, nondatadriven decision, so the owner of the dot-law
data set, they’re going to generate a lot of
revenue.”
Development: Condo Homes In on Record Price
idents’ private roof decks. Given the low-rise to
mid-rise nature of the area, no one will be able
to see up to the penthouse roof, which will be
closed in by collapsible glass walls.
Who’s buying?
Condos are often associated with empty
nesters. But Genton said most who have
reserved, including the buyer who reserved the
penthouse, will use their condo as a secondary
residence.
“With rare exceptions, our (prospective)
buyers already have a home in Los Angeles,
but they also have two to three to four homes
in other parts of the world,” he said.
Four Seasons will take care of property
management while they are away, White said.
Both Genton and White were mum about
who bought the penthouse.
“One of the things about the Four Seasons
brand is that we’re highly discreet,” White
said. “But what I can say is our (penthouse)
buyers tend to be … ultra-high-net-worth individuals, from politicos to celebrities to (people
in) entertainment and sports.”
Heiferman said that every penthouse deal
he has ever completed was an all-cash deal.
“I sold one to a guy who owned wireless networks,” he said. “Sometimes it is rich widows,
and in one case it was a very wealthy Eastern
European buyer who wasn’t going to spend a lot
of time there but thought it was a good
place to park money.”
Penthouse buyers have varied backgrounds, but the common factor is
wealth, he said.
“These are people who are not going
to have to budget meals and eat
Hamburger Helper for the next few years
because of it,” Heiferman said. “I had one
person who would pay the homeowners’
dues a year in advance, not because there
was any bonus for that, it was just easier
to write the check.”
Not everyone is convinced that the
demand for luxury condos and penthouses is as strong as its proponents think.
“We are still a horizontal city as
opposed to a vertical city,” said Stephen
Shapiro of Westside Estate Agency,
pointing to the Montage in Beverly Hills
condos, which took years to sell out. “I’m
skeptical about the Four Seasons because
it’s not in the middle of anything. You can
walk to Robertson (Boulevard) but you
are walking by funky single-family
homes and condos.”
Josh Flagg of Rodeo Realty and reality TV show “Million Dollar Listing”
fame said Los Angeles remains a house
city. He has seen penthouses sell for half
their asking price.
“It’s a solid investment in New York.
… It’s just not a good investment in
Expensive Neighborhood: Rendering of Four Seasons Private Residences Los Angeles.
L.A.,” he said.
+1 604 278 4604
SEPTEMBER 7, 2015
Manufacturing: Glass Exec’s Wallet Blowing Up
warehouses, opened offices in
North America and abroad as well
as helped develop new niches for
glass products.
“When I first started here, nobody
had thought of all-glass shower
doors,” he said. “We pioneered that
and now it’s a huge market.”
This year, CR Laurence
expects total sales of $570 million.
five years.
“It’s a real Horatio Alger story,” said Lloyd
Greif, a downtown L.A. investment banker
who advised Friese on the deal.
Though Friese will pay hundreds of millions
in taxes after the deal, his personal net worth is
almost certainly more than $1 billion, Greif estimates, thanks to his ownership of the millions of
square feet of industrial and office real estate
CR Laurence occupies around the globe.
Friese is sharing some of his newly liquid
wealth. In an unusual move, he sent a thank-you
bonus note – with a check attached – to each of
his employees with at least one year of service
at the company. The payouts total in the ballpark
of $80 million, with the average eligible worker
potentially taking home nearly $50,000.
“It’s the employees who have made the
company the powerhouse that it is and they
deserve the recognition and the reward,” Friese
said last week just after signing the final paperwork on the company’s sale.
Succession planning
For Friese, the sale marks the culmination
of a five-year effort to sell the company, one
that started as he turned 70 and realized he had
no viable succession plan.
“I would often joke that if something happened to me, my wife would run the company,” he said. “I love my wife dearly and she is
an absolutely wonderful person, but she doesn’t know the business.”
Friese added his son wasn’t yet ready to
take the reins of a global company – “In 10
years maybe, but I needed a plan in place sooner than that.”
The sale effort became serious a year ago
after he received an unsolicited offer from a
private equity firm. He ran the offer by Greif,
whom he had known for years, and the pair
decided they could do better.
“My main issue was that I wanted to make
sure that whoever bought the company would
allow us to run it, keep all the pieces intact and
all the employees on board,” Friese said.
After running through offers from a number of other private equity firms, Friese settled
on the only offer from an industry player, the
Oldcastle subsidiary.
Oldcastle makes metal window frame components as well as glass for windows, doors,
skylights and such. CR Laurence makes or distributes products that affix to glass or are used
to install glass – some 65,000 products in all,
Consolidation pressure
In recent years, the glass industry, like many manufacturing segments, has gone through a wave of
consolidation, pushed by global
cost pressures and domestic regulation.
“Larger, more integrated manufacturing organizations are better
equipped to absorb challenging
financial conditions – and are
especially better positioned to
overcome or afford huge regulatory challenges that are holding back
manufacturing in the United
States,” said Bill Yanek, executive
vice president of the Glass
Association of North America.
“The glass industry is no different
in this respect.”
Indeed, during the Great
Recession, CR Laurence seized
the opportunity to buy companies
on the cheap. In 2011, it acquired
Still Attached: Donald Friese at glass products maker CR Laurence in Vernon.
U.S. Aluminum of Monterey Park
out of bankruptcy, giving CR
including door and window handles, automo- Robert Laurence, an L.A. businessman who Laurence, which had long used aluminum
tive sunroof attachments and a wide assort- in the 1920s started a metal-stamping opera- products to affix to the glassware it sells, a
ment of adhesives and power tools.
tion and branched out into a number of other foothold in the aluminum market.
“I like to say we make everything associat- areas, including some glass supply. It wasn’t
Now that CR Laurence itself has been pured with glass but the glass itself,” Friese said.
until around the time Friese came on board in chased, the view from one industry expert is that
CR Laurence has over 1 million square feet 1961 that the focus turned mainly to glass- the deal will benefit both companies. Lyle Hill,
of space in Vernon on three sites. Most of the related products.
a former glazing company executive who is now
space is warehouse, but there are also corpoFriese hadn’t initially planned on staying managing director with Keytech North
rate offices and one manufacturing facility. long, but as he watched high-rises go up and America, a research and market services
Friese said about 1,100 employees work at all saw the sales of homes and cars zoom, he soon provider to the glass and metals industry, said the
the Vernon facilities.
saw the opportunity in selling glass products companies will need to figure out how they will
deal with a few overlapping business areas, but
and decided to stay put.
Long-timer
As he rose through the ranks, he became he expects CR Laurence to be a good pickup
CR Laurence’s main customers are custom the protégé of then-owner Bernie Harris and
“I think these are two very well-run, wellglass manufacturers and the contractors who eventually acquired a 50 percent stake in the led and extremely successful organizations
install glass in commercial and residential build- company. When Harris died in 1997 at age 95, that did not jump into this without careful planings. The massive assortment of products are Friese became sole owner.
ning and analysis,” Hill said in a blog last week
arrayed in the company’s huge warehouses and
At that time, the company had already for U.S. Glass Magazine. “What they plan to
then shipped overnight to locations in North grown to $100 million in annual sales. Friese do about overlaps in sales efforts, certain extruAmerica or to clients in Europe and Australia.
continued the expansion, adding products and sion components and so forth are, in the long
The company takes its name from Charles expanding into new geographies. He built run, quite minor issues.”
Technology: Question Service Sees Users as Answer
to pay for business leads. For example, the
company recently discovered that many users
were looking for a place to keep their dogs
overnight, explained Jalali. Eventually, a company such as Santa Monica’s DogVacay
might pay to have those queries directed to its
platform. The company is also particularly
excited about the ability to create revenue
from the job-search sector.
“We can connect you anonymously with a
hiring manager,” said Jalali. “There’s quite a
lot of money we could extract from that transaction.”
Sensay has also instituted virtual coins that
people can use to tip each other based on the
quality of advice they receive. Down the line,
those coins will carry a monetary value as
people will be required to either buy coins to
ask questions or agree to answer questions in
exchange for coins. So far, about 60 percent
of Sensay’s users have gone on to answer
questions from others, said Jalali.
Another possible outcome is that Sensay
could be acquired by a tech giant looking to
improve its own service. That’s exactly what
Facebook did in January when it bought Palo
Alto speech-interface developer Wit.ai for an
undisclosed sum to help build M.
Another example occurred in 2010 when
Google bought San Francisco’s Aardvark, a
company that allowed people to find the right
person to ask for help from their online contacts, for $50 million. Google quickly shuttered the service and Aardvark’s team went to
work on Google Plus.
“Aardvark proved that social search is a
viable play,” Joe Devon, co-founder and chief
operating officer at Venice’s Diamond, an
agency that specializes in the development of
Web, mobile and connected devices, said in
an email. “Sensay has the ingredients to make
it. I could see one of the majors, perhaps
Microsoft, wanting them.”
Jalali said he and Rose’s primary concern
is growing Sensay’s user base, and he
declined to disclose if the company has been
approached regarding a possible sale.
On Call: Ariel Jalali, left, and Crystal Rose at Sensay’s office in Venice.
“However, we have heard from former
early employees at some large tech compa-
nies that they are looking to buy companies in
the general space,” said Jalali.
+1 604 278 4604
SEPTEMBER 7, 2015
EXECUTIVESTYLE
Relaxed Fit
Hand Finished
in Italy
‘It’s not a good
piece if it’s not
comfortable. It has
to be part of you
because you’re
living in it.’
GUILLERMO ZALAMEA,
HL Group
Apolis wool-blend blazer.
Cost: about $400.
The Classic Definition
of Classic
Apolis leather belt.
Cost: about $98.
425 NORTH CAÑON DRIVE, BEVERLY HILLS, CA 90210
310-273-9060 MONDAY-SATURDAY 9:30AM-6:00PM
Free parking available behind the store
CARROLLANDCO.COM
Rolex Oyster Perpetual
watch. Cost: about $6,000.
Paul Smith suede
brogues. Cost: about $575.
G
UILLERMO
Zalamea’s penchant
for fashion started with his first job out of
college, working as a fashion editor for
men’s magazine Esquire in New York.
“It was really there where I learned what’s good and
what’s bad and what suits me,” said Zalamea, who
spent eight years at the magazine and is now a partner
at marketing and communications firm HL Group in
Los Angeles.
One of the most important lessons he learned:
Simple and straightforward work best. Zalamea said
he can always be found wearing short chinos, brogues
with no socks and a blazer or cardigan.
“If it’s simple but great in terms of cut or fabric, I’ll
pick it up and wear it,” he said. “It’s more about a very
straightforward look that people will take seriously but
casual enough to not be pretentious.”
For example, Zalamea wore a standard combination of slacks, button-up shirt and blazer for the
Business Journal. But each item was
made by designers known in the fashion industry for
using high-quality materials and creating more modern
fits to update classic American items. They include
Todd Snyder, Apolis and Paul Smith.
Comfort is also key.
“It’s not a good piece if it’s not comfortable. It has
to be part of you because you’re living in it,” he said.
Zalamea, who prefers to shop in person, said he’ll
stop by department stores such as Barneys New York
and Neiman Marcus. It’s there that he will discover
new labels, but he’ll also make sure to stop into boutiques such as his favorite, RTH, a tiny shop in West
Hollywood carrying an eclectic mix of products
including leather bags, beaded kilt pins and furniture.
He said his focus has always been on great
American style but with unique twists, such as the
cropped chino pants by Todd Snyder he wore for the
Business Journal.
– Subrina Hudson
Market your
executive style.
For more information,
please call 323.549.5225
PHOTOS BY THOMAS WASPER
+1 604 278 4604
COMMENTARY
Time to Power Up Regional Grid
46
By ALLAN ZAREMBERG
C
Gov. Jerry Brown has
embarked on an ambitious climate-change
agenda that he hopes will propel other
states to take action on reducing carbon emissions. As the governor continues to move his climate-change agenda forward, it will be important
for him to work alongside the business community to develop a plan that will be focused on
reducing the overall cost of electricity for businesses and consumers.
The California Chamber of Commerce
firmly believes that a regional energy market –
the coordination of electricity systems in the
West – would reduce costs and is the most
efficient, effective way to meet the region’s
growing demand for affordable, reliable and
sustainable energy. A regional energy market
has the potential to reduce energy costs in all
participating states by integrating a diverse
portfolio of resources on one coordinated grid.
By adopting legislation that would enable
Western states to join California in the creation of a regional market, Brown could
reduce the cost of electricity in multiple states
while consequently achieving his goals for
renewable energy.
The business community has a keen interest
in such legislation because running a business is
a difficult and expensive venture. The cost of
energy for a business can be paramount. But
when it comes to the biggest energy users – the
industrial, manufacturing, technology and agriculture sectors, just to name a few – that venture becomes even more expensive because of
ALIFORNIA
the high cost of energy. The amount of money
spent on electric bills by businesses in these
industries is significant – more than $400 billion a year. With the L.A. area being the largest
manufacturing center in the country, and Long
Beach and Santa Ana part of the territory that
would be covered by a regional grid, the impact
of high energy costs hits businesses particularly
close to home.
Ultimately, we are all impacted when the
cost to pay those expensive electricity bills is
passed on to the consumer. The price we pay
for food, groceries and many basic household
items increases when the businesses that provide them are forced to pay more for energy. A
regional energy market in the West would
reduce those costs by providing the grid with
access to a broader array of resources across a
larger economy of scale to secure the lowest
possible price for energy. This is basic economics – by increasing supply to meet demand, all
states participating in a regional energy market
can deliver and receive power more efficiently
and affordably.
A regional energy market would also increase
the reliability of power delivery. Losses in power
are devastating to a business. Electrical interruptions, power outages and momentary blips cost
businesses unrecoverable amounts of money and
impact critical systems like refrigeration, heating,
ventilating, air conditioning and other mechanical
services that grind to a halt.
In fact, according to an Energy Department
study, the cost to maintain effective power delivery ranges from $150 billion to $400 billion a
year. A regional grid would increase reliability by
providing operators with a better system that integrates diverse sources of renewable energy
throughout the Western region.
For example, when the sun is shining in
California and producing an overgeneration of
solar energy within the state, that energy can be
exported cheaply to other states. Likewise, when
the wind is blowing in abundance in the
Northwest and creating a surplus of energy
there, that energy can be imported to meet
demand in California.
That is why the driving force for energy policy must be maintaining an affordable, reliable
and efficient energy system. The more Western
states can work together to create a system to
meet regional demands, the better it will be for
businesses and consumers in all states. In fact,
regional transmission systems that facilitate the
sharing of energy among states already exists in
other parts of the United States and Canada. The
West should be no different.
Brown told chamber and business leaders in
May that he supports the concept of an enhanced
grid that is not confined to just California. As the
governor works to advance his climate-change
agenda, we encourage him to explore the creation of a regional energy market. This approach
would help the governor achieve his climatechange goal for renewable energy. It would also
drive down the cost of energy for the region’s
businesses and consumers while creating economic incentives for other Western states to participate in the market.
SEPTEMBER 7, 2015
LOS ANGELES
BUSINESS JOURNAL
®
PUBLISHER & CEO
MATTHEW A. TOLEDO
[email protected] | ext. 207
EDITOR
CHARLES CRUMPLEY
SENIOR MANAGING EDITOR
JONATHAN DIAMOND
MANAGING EDITOR
JAMES RUFUS KOREN
NEWSDESK EDITOR
TOM HICKS
REPORTERS
HOWARD FINE
SUBRINA HUDSON
KAREN JORDAN
CAROL LAWRENCE
HANNAH MIET
SANDRO MONETTI
CALE OTTENS
MATT PRESSBERG
GARRETT REIM
OMAR SHAMOUT
MARNI USHEROFF
CHIEF EDITORIAL PHOTOGRAPHER
RINGO H.W. CHIU
RESEARCH DIRECTOR
DAVID NUSBAUM
ASSOCIATE SALES MANAGER,
DIRECTOR OF EVENTS
DARRIN SENNOTT
Allan Zaremberg is president of the California
Chamber of Commerce.
ADVERTISING ACCOUNT MANAGERS
MONA ANICH
DARIELLE D’MELLO
LABJ FORUM
EVA JUSE
KOLLENE MCGINLEY
Trumped
Up?
Donald Trump continues to pace the field of
Republican presidential hopefuls with no let up
in sight. So the Business Journal asks:
JIM SLATER
Would a President Trump
be good for business?
MARLA WALDMAN
NATIONAL ADVERTISING SALES MANAGER
CHRISTIAN CALSON
ELLEN MAZEN
BASSEM NOWYHED
Chief Executive
FitUnity
We need someone like him to be the voice of
our country. He has an opinion and he’s not
afraid to share it. He’s got my vote if he’s in the
running.
JOANNE NICHOLSON
Business Journalist
His pledge to be the best jobs president God
ever created and put power in the hands of the
small-business owner has appeal. But I wonder
if Trump has the skills to manage the forces that
transcend the boundaries of the United States.
SETH J. HOROWITZ
President
Horowitz Agency
Donald Trump would probably be great for
business. The more pertinent question is, would
he be good for our country?
TRICIA TONGCO
Communications Writer
Otis College of Art and Design
No! His unhinged behavior and policies could
have a far-reaching, negative impact on business
because of the issues he’d create in Congress, in
[email protected] l ext. 240
the United States’ international relationships and
in health care.
RAN
GRUSHKOWSKY
Co-Founder
WireCash
Yes. Trump would
probably loosen
government regulations
that will enable businesses
to cut costs of compliance
and focus more efforts and
funds on value creation.
CLASSIFIED SALES MANAGER
ROSZ MURRAY
ADVERTISING COORDINATOR
MARIA SANTIZO
EVENTS MANAGERS
BREANNE KAMAI
JENNIFER HAKIM
EVENT COORDINATOR
JESSICA HAKIM
Grushkowsky
PRODUCTION DIRECTOR
SALLY JONES
ART DIRECTOR
TIA SEIFERT
PRODUCTION ARTIST
KRISTIN SKAGGS-KIRBY
Los Angeles Business Journal Poll
Would a President Trump be good
for business?
AUDIENCE DEVELOPMENT DIRECTOR
STEPHANIE CHENG
CIRCULATION MANAGER
ZAINABU BRYANT
Yes!
No!
CONTROLLER
NANCY SCHWARTZ
ACCOUNTS RECEIVABLES SPECIALIST
ELFLEDA DIPIETRO
37%
55%
ACCOUNTING ASSISTANT
ILANIT GLUCKOWSKY
ASSISTANT TO THE PUBLISHER
ELISE LOVETT
8%
RECEPTIONIST
DENISSE RUIZ
Probably little or
no difference.
Online results for week ended Sept. 2.
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SEPTEMBER 7, 2015
INDEX
‘You don’t have
to screw people to
have a great
product.’
CALEB GARRETT,
Hawkers
PAGE 3
‘When you want a
conversation with a
robot you can use
those platforms.’
ARIEL JALALI,
Sensay,
on his firm’s rivals
PAGE 5
Mars, Bruno . . . . . . . . . . . . . . . . . . .12
Miller, Scott . . . . . . . . . . . . . . . . . . .12
Moreno, Alex . . . . . . . . . . . . . . . . . . .3
Mortesen, Kevin . . . . . . . . . . . . . . . . .5
Mottek, Frank . . . . . . . . . . . . . . . . . .12
Cross Campus . . . . . . . . . . . . . . .5/44 Harley Ellis Devereaux . . . . . . . . . .6/7
Cushman & Wakefield Inc. . . . . . . .6/7 Hawkers . . . . . . . . . . . . . . . . . . . . . . .3
Hilton & Highland . . . . . . . . . . . . .1/42
D
David Naylor & Associates . . . . . . . .12 Hit House . . . . . . . . . . . . . . . . . . . . .12
Development Inc. . . . . . . . . . . . . . .40 HKS Hospitality Group . . . . . . . . . . .14
1-9
Diamond . . . . . . . . . . . . . . . . . . . .5/44 HL Group . . . . . . . . . . . . . . . . . . . . .45
72andSunny . . . . . . . . . . . . . . . . . . .14 DineEquity Inc. . . . . . . . . . . . . . . . . . .5 Holualoa Cos. . . . . . . . . . . . . . . . . .40
DKC Public Relations . . . . . . . . . . . .14 Horowitz Agency . . . . . . . . . . . . . . .46
A
Hotel Zephyr . . . . . . . . . . . . . . . . . .14
A.C. Martin Partners . . . . . . . . . . .6/7 DLA Piper . . . . . . . . . . . . . . . . . . .1/43
I
Activision Blizzard Inc. . . . . . . . . . . . .4 DogVacay . . . . . . . . . . . . . . . . . . .5/44
Aecom . . . . . . . . . . . . . . . . . . . . . . . .8 Doner . . . . . . . . . . . . . . . . . . . . . . . .14 iCrossing Inc. . . . . . . . . . . . . . . . . . .14
AeroVironment Inc . . . . . . . . . . . . . . .9 DreamWorks Studios . . . . . . . . . . . .16 IHOP Corp. . . . . . . . . . . . . . . . . . . . . .5
Ikea . . . . . . . . . . . . . . . . . . . . . . . . . .9
Albertsons . . . . . . . . . . . . . . . . . . . .16
E
American Foundation for
eHarmony Inc. . . . . . . . . . . . . . . . . .16 Image Capital . . . . . . . . . . . . . . . . . . .4
Equal Rights . . . . . . . . . . . . . . . . .14 Electronic Arts Inc. . . . . . . . . . . . . . .4 IPC Healthcare Inc. . . . . . . . . . . . . . .4
American General Constructors . . . .40 Engine Real Estate Services . . . . . . .4 IRA Realty Capital . . . . . . . . . . . . . .40
Amplify. LA . . . . . . . . . . . . . . . . . .5/44 Epstein Becker & Green . . . . . . . . . .13
J
Anomaly . . . . . . . . . . . . . . . . . . . . . .14 Equinox Strategy Partners . . . . . .1/43 Jamison Partners . . . . . . . . . . . . . .6/7
Anthemic Agency . . . . . . . . . . . . . . .14 Esquire . . . . . . . . . . . . . . . . . . . . . . .45 Jewish Advocate . . . . . . . . . . . . . . .10
Apolis . . . . . . . . . . . . . . . . . . . . . . . .45
JWT San Juan . . . . . . . . . . . . . . . . .14
F
Apple Inc. . . . . . . . . . . . . . . . . . . .5/44
Facebook
Inc.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.5/44
K
Applebee’s International Inc. . . . . . . .5
Arbitron . . . . . . . . . . . . . . . . . . . . . .12 Fidelity Investments . . . . . . . . . . . . .12 Keytech North America . . . . . . . . .1/44
FitUnity . . . . . . . . . . . . . . . . . . . . . . .46 Korean American Apparel
B
Forbidden Images Production . . . . .40
Manufacturers Association . . . . . .16
Barneys New York . . . . . . . . . . . . . .45
Four Seasons
L
Baroda Ventures . . . . . . . . . . . . . . .12
Private Residences . . . . . . . . . .1/42
Latham & Watkins . . . . . . . . . . . .1/43
BCG Digital Ventures . . . . . . . . . . . .12
G
Lathrop & Gage . . . . . . . . . . . . . . . . .3
Boston Consulting Group . . . . . . . . .12
Buzzfeed . . . . . . . . . . . . . . . . . . . . . .16 Gensler . . . . . . . . . . . . . . . . . . . . . .6/7 Laurus Corp. . . . . . . . . . . . . . . . . . .14
Genton Property Group . . . . . . . . .1/42 Lego Group . . . . . . . . . . . . . . . . . . .12
C
Glass Association of
LendLease . . . . . . . . . . . . . . . . . . . .6/7
California Chamber
North America . . . . . . . . . . . . . .1/44 Leo Burnett . . . . . . . . . . . . . . . . . . .14
of Commerce . . . . . . . . . . . . . . . .46
Google Inc. . . . . . . . . . . . . . . .5/44, 12 Lippin Group . . . . . . . . . . . . . . . . . .12
Campbell Ewald . . . . . . . . . . . . . . . .14
Greenland Holdings . . . . . . . . . . . .6/7 Littler Mendelson . . . . . . . . . . . . . . .13
Cathay General Bancorp . . . . . . . . . . .4
Greycroft Partners . . . . . . . . . . . .5/44 Live Nation . . . . . . . . . . . . . . . . . . .40
CBRE Group Inc. . . . . . . . . . . . . . . . .4
Gruppo Campari . . . . . . . . . . . . . . . .14 Lucky Strike Entertainment . . . . . . .14
CBS . . . . . . . . . . . . . . . . . . . . . . . . .10
H
M
Cedars-Sinai Health System . . . . . . .16
CIM Group . . . . . . . . . . . . . . . . . . . .40 Hache LA . . . . . . . . . . . . . . . . . . . . .12 M&C Saatchi L.A. . . . . . . . . . . . . . . .14
Clark Construction. . . . . . . . . . . . . .6/7 Haggen . . . . . . . . . . . . . . . . . . . . . . .16 Macy’s . . . . . . . . . . . . . . . . . . . . . . .6/7
Coatue Management . . . . . . . . . . . .12 Hanjin International Inc. . . . . . . . . .6/7 Maker Studios . . . . . . . . . . . . . . . . .12
CoStar Group Inc. . . . . . . . . . . .16, 40 Hankey Group . . . . . . . . . . . . . . . . .6/7 Maple Group . . . . . . . . . . . . . . . . . .40
CP+B . . . . . . . . . . . . . . . . . . . . . . . .14 HansonLA . . . . . . . . . . . . . . . . . . . .6/7 Marina del Rey Hospital . . . . . . . . . .16
CR Laurence Co. . . . . . . . . . . . . . .1/44 Happily . . . . . . . . . . . . . . . . . . . . . . . .4 Massachusetts Institute
CRH Group . . . . . . . . . . . . . . . . . .1/44 Harbor Group Management . . . . . . .4
of Technology . . . . . . . . . . . . . . . .13
Maverik Digital . . . . . . . . . . . . . . . . .12
MDC Partners Inc. . . . . . . . . . . . . . .14
Metlife Inc. . . . . . . . . . . . . . . . . . . .40
Microsoft Corp. . . . . . . . . . . . . . . .5/44
Mid-Atlantic ElderCare . . . . . . . . . . . .4
Minds + Machines Group Ltd. . . .1/43
Mindshare . . . . . . . . . . . . . . . . . . . .14
Mistress . . . . . . . . . . . . . . . . . . . . . .14
MiTú . . . . . . . . . . . . . . . . . . . . . . . . .12
MTV Networks . . . . . . . . . . . . . . . . .10
Murphy O’Brien . . . . . . . . . . . . . . . .14
COMPANIES,
ASSOCIATIONS, ETC.
BILL HANWAY,
Aecom,
on city’s Olympics bid
PAGE 8
Shoesmith, Jo . . . . . . . . . . . . . . . . .14
Smith, Maria . . . . . . . . . . . . . . . . . .14
Souferian, Behzad . . . . . . . . . . . . . .40
Spelling, Candy . . . . . . . . . . . . . . .1/42
Spelling, Tori . . . . . . . . . . . . . . . . .1/42
Spielberg, Steven . . . . . . . . . . . . . . .16
N
Stewart, Julia A. . . . . . . . . . . . . . . . . .5
Nadal, Miles . . . . . . . . . . . . . . . . . . .14
Nicholson, Joanne . . . . . . . . . . . . . .46 Suster, Mark . . . . . . . . . . . . . . . . . .12
Noll, Greg . . . . . . . . . . . . . . . . . . . . . .3
T
Nowyhed, Bassem . . . . . . . . . . . . . .46 Terpin, Michael . . . . . . . . . . . . . . . .12
Tongco, Tricia . . . . . . . . . . . . . . . . . .46
O
E
Hieferman, Karen . . . . . . . . . . . . .1/42
Eigen, Zev . . . . . . . . . . . . . . . . . . . .13 Hill, Lyle . . . . . . . . . . . . . . . . . . . .1/44
Horowitz, Seth J. . . . . . . . . . . . . . . .46
F
A
Farrell, Kelly . . . . . . . . . . . . . . . . .1/42 Horton, Tony . . . . . . . . . . . . . . . . . . .3
Ahuja, Harpreet . . . . . . . . . . . . . . . .14
Fei, Julie . . . . . . . . . . . . . . . . . . . .1/43 House, Sally . . . . . . . . . . . . . . . . . . .12
Andreozzi, Lou . . . . . . . . . . . . . . .1/43
Feldman, Charles . . . . . . . . . . . . . . .12
J
B
Fidanza, Paolo . . . . . . . . . . . . . . . . .10 Jalali, Ariel . . . . . . . . . . . . . . . . . .5/44
Bass, Scott . . . . . . . . . . . . . . . . . . . . .3 Fitzgarrald, Jonathan . . . . . . . . . .1/43 Jarvis, Matt . . . . . . . . . . . . . . . . . . .14
Bava, Steve . . . . . . . . . . . . . . . . . . .14 Flagg, Josh . . . . . . . . . . . . . . . . . .1/42
K
Brown, Jerry . . . . . . . . . . . . . . . . . .46 Friese, Donald . . . . . . . . . . . . . . . .1/44
Kavinoky, Darren . . . . . . . . . . . . . .1/43
Furukawa,
Tom
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.12
C
Korff, Brandon . . . . . . . . . . . . . . . . .10
Charles, Ken . . . . . . . . . . . . . . . . . . .12
G
Korff, Yitzhak . . . . . . . . . . . . . . . . . .10
Chraghchian, Patrick . . . . . . . . . . . .40 Gangwal, Jay . . . . . . . . . . . . . . . . . .40 Kun, Michael . . . . . . . . . . . . . . . . . .13
Conver, Timothy E. . . . . . . . . . . . . . . .9 Garcetti, Eric . . . . . . . . . . . . . . . . . .16
L
Cooper, Ernie . . . . . . . . . . . . . . . . . . .3 Gardner, David . . . . . . . . . . . . . . . . .12
Cottle, Gerry Jr. . . . . . . . . . . . . . . . .12 Garrett, Caleb . . . . . . . . . . . . . . . . . . .3 Ladraa, Qualid . . . . . . . . . . . . . . . . .10
Cottle, Gerry Sr. . . . . . . . . . . . . . . . .12 Genton, Jonathan . . . . . . . . . . . .1/42 Lam, Tawny . . . . . . . . . . . . . . . . . . . .9
Cushman, John C. . . . . . . . . . . . . .6/7 Graham, Mandy . . . . . . . . . . . . . . . .14 Layt, Steven R. . . . . . . . . . . . . . . . . . .5
Greif, Lloyd . . . . . . . . . . . . . . . . . .1/44 Lee, Peter . . . . . . . . . . . . . . . . . . . . .12
D
Lilling, Adam . . . . . . . . . . . . . . . . . .12
Delph, Walter . . . . . . . . . . . . . . . . . .12 Grushkowsky, Ran . . . . . . . . . . . . . .46
Lorenzo, Lixaida . . . . . . . . . . . . . . . .14
Depp, Johnny . . . . . . . . . . . . . . . . . .12
H
M
Devon, Joe . . . . . . . . . . . . . . . . . .5/44 Hanway, Bill . . . . . . . . . . . . . . . . . . . .8
Dodell, Herbert . . . . . . . . . . . . . . . .13 Haro, Shelby Huston . . . . . . . . . . . .12 Maltin, Phillip . . . . . . . . . . . . . . . . . . .3
Duddy, Cameron . . . . . . . . . . . . . . .12 Heiferman, Steve . . . . . . . . . . . . .1/42 Marcus, David . . . . . . . . . . . . . . . .5/44
PEOPLE
‘The biggest
advantage in L.A.
is that so many
venues are built
and ready to go.’
Obama, Barack . . . . . . . . . . . . . . .5/44
V
Van Couvering, Antony . . . . . . . . .1/43
P
Pasternak, Harley . . . . . . . . . . . . .1/42
W
Pizzurro, Frank . . . . . . . . . . . . . . .1/43 Wallach, Leo . . . . . . . . . . . . . . . . . .14
Waxman, David . . . . . . . . . . . . . . .5/44
R
Redstone, Shari . . . . . . . . . . . . . . . .10 Wesson, Herb . . . . . . . . . . . . . . . . .16
Redstone, Sumner . . . . . . . . . . . . . .10
Y
Ronson, Mark . . . . . . . . . . . . . . . . .12 Yanek, Bill . . . . . . . . . . . . . . . . . . .1/44
Rose, Crystal . . . . . . . . . . . . . . . .5/44
Z
S
Zalamea, Guillermo . . . . . . . . . . . . .45
Schein, Felix . . . . . . . . . . . . . . . . . . .14 Zaremberg, Allan . . . . . . . . . . . . . . .46
Shapiro, Stephen . . . . . . . . . . . . .1/42 Zimmerman, Kristin . . . . . . . . . . . .40
N
National Amusements Inc. . . . . . . . .10
NBCUniversal Inc. . . . . . . . . . . . . . .16
Neiman Marcus . . . . . . . . . . . . . . . .45
Nestle USA . . . . . . . . . . . . . . . . . . . .16
Netflix . . . . . . . . . . . . . . . . . . . . . . . .12
Nova Lifestyle Inc. . . . . . . . . . . . . . . .9
O
Oakwood Asia Pacific . . . . . . . . . . .40
Oakwood Worldwide . . . . . . . . . . . .40
Oldcastle Building Envelope . . . . .1/44
O’Melveny & Myers . . . . . . . . . . .1/43
Opinit . . . . . . . . . . . . . . . . . . . . . . . .10
Otis College of Art and Design . . . . .46
P
Pankow Penta Builders . . . . . . . . . .6/7
Panoply Properties . . . . . . . . . . . . . .10
Paul Smith . . . . . . . . . . . . . . . . . . . .45
Paul White . . . . . . . . . . . . . . . . . .1/42
Phenomenon . . . . . . . . . . . . . . . . .5/44
Plus Capital . . . . . . . . . . . . . . . . . . .12
Porsche . . . . . . . . . . . . . . . . . . . . . .12
Prop Store . . . . . . . . . . . . . . . . . . . .12
Q
Quigley-Simpson . . . . . . . . . . . . . . .14
R
Rally . . . . . . . . . . . . . . . . . . . . . . . . .14
Ratkovitch Co. . . . . . . . . . . . . . . . .6/7
Redbury Hotel . . . . . . . . . . . . . . . . .14
Related Cos. . . . . . . . . . . . . . . . .1/42
Rodeo Realty . . . . . . . . . . . . . . . .1/42
Rolex . . . . . . . . . . . . . . . . . . . . . . . .45
Rooftop Film Club . . . . . . . . . . . . . .12
RTH . . . . . . . . . . . . . . . . . . . . . . . . .45
RTKL . . . . . . . . . . . . . . . . . . .1/42, 6/7
Rubicon Project Inc. . . . . . . . . . . . .12
S
Saucey . . . . . . . . . . . . . . . . . . . . . . . .3
Sensay Inc. . . . . . . . . . . . . . . . . . .5/44
Shorenstein Properties . . . . . . . . . .16
Skadden Arps Slate
Meagher & Flom . . . . . . . . . . . .1/43
Skidmore Owings & Merrill . . . . . .6/7
Snapchat . . . . . . . . . . . . . . . . . . . . .12
Social Radius . . . . . . . . . . . . . . . . . .12
Souferian Group . . . . . . . . . . . . . . . .40
St. Regis Monarch Beach . . . . . . . . .14
Studio One Eleven . . . . . . . . . . . . .6/7
Super League Gaming Inc. . . . . . . . .4
Surfing Heritage and
Culture Center . . . . . . . . . . . . . . . .3
Synear Food Holdings Ltd. . . . . . . .16
T
Team One . . . . . . . . . . . . . . . . . . . . .14
TenOneTen Ventures . . . . . . . . . . .5/44
Todd Snyder . . . . . . . . . . . . . . . . . . .45
Turner Construction Co. . . . . . . . . .6/7
TVGla . . . . . . . . . . . . . . . . . . . . . . . .14
U
U.S. Glass Magazine . . . . . . . . . . .1/44
UBS Realty Investors . . . . . . . . . . . .4
UDR Inc. . . . . . . . . . . . . . . . . . . . . .40
Universal Pictures . . . . . . . . . . . . . .16
Upfront Ventures . . . . . . . . . . . . . . .12
V
Viacom Inc. . . . . . . . . . . . . . . . . . . .10
Vicenti Lloyd & Stutzman . . . . . . . . .3
W
Walt Disney Co. . . . . . . . . . . . . . . .16
Webcor Builders . . . . . . . . . . . . . .6/7
Westside Estate Agency . . . . . . . .1/42
Whisper . . . . . . . . . . . . . . . . . . . . . .12
WireCash . . . . . . . . . . . . . . . . . . . . .46
Z
Zefr . . . . . . . . . . . . . . . . . . . . . . . . .12
These indexes list the people, businesses, associations, organizations, schools, etc., that are named in this week's issue. The numbers refer to the page on which the name is found. Numbers with slashes refer to pages on which lengthier articles are located that contain the name.
+1 604 278 4604
SEPTEMBER 7, 2015
Don’t let your
wireless carrier
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at the border.
Get unlimited calls and texts to and from
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Service port-in from eligible carrier (such as AT&T, Verizon, and Sprint), qualifying service and data plan required for each line. Initial bill credit of $100 processed within 90 days of activation. Additional bill
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to other countries. Qualifying plan and capable device required. Not for extended international use; you must reside in the U.S. and primary usage must occur on our U.S. network. Service may be terminated or restricted
for excessive roaming. Communications with premium-rate numbers not included. Coverage not available in some areas; we are not responsible for our partners’ networks. See brochures and Terms and Conditions (including
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+1 604 278 4604

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