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Sunday, Jun 22, 2025

Around the Valleys

ANTELOPE VALLEY LANCASTER Antelope Valley Hospital has named Ronald Bingham as its new chief operating officer. He will begin in his new position immediately. Bingham has served as vice president in previous roles at St. Mary Medical Center in Long Beach as well as St. Vincent Medical Center and California Hospital Medical Center, both in Los Angeles. Bingham is an employee of Irvine-based Alecto Healthcare Services, the health care management company contracted to run the hospital by Antelope Valley Healthcare District, the public entity that owns the hospital. MOJAVE The owner of an Antelope Valley goldmine has agreed to sell $10 million worth of shares in the company to a syndicate of investors led by a Canadian firm. Golden Queen Mining Co. Ltd., in Vancouver, will use the proceeds to pay off loans due later this year and for general corporate purposes. Golden Queen is in a joint venture to operate its Soledad Mountain gold and silver mine just south of Mojave in the Antelope Valley. The mine began processing the precious metals earlier this year. Golden Queen is a publicly traded company listed on the Toronto Stock Exchange in Canada and the OTC Market in the United States. The Soledad mine is the company’s only asset. CONEJO VALLEY CAMARILLO L.A.-based Rexford Industrial Realty Inc. has purchased a property in Camarillo. The industrial property-focused real estate investment trust has bought out its joint venture partner to fully own 3233 Mission Oaks Blvd. in Camarillo. Rexford paid $21.8 million for the remaining 85 percent interest of the two-building complex, which has a total of 457,693 square feet on 31.9 acres of land. The property just underwent an $11 million improvement by the joint venture that converted 295,000 square feet of the interior warehouse into eight individual spaces ranging from 21,000 square feet to 57,000 square feet, the company said. THOUSAND OAKS Amgen Inc. has entered into an exclusive contract with Tokyo-based pharmaceutical company Daiichi Sankyo Co. Ltd. to commercialize nine biosimilar drugs in Japan. Under the terms of the deal, the Thousand Oaks biotech will develop and manufacture the biosimilars, and Daiichi Sankyo will be in charge of distribution and sales. Amgen will have limited ability to co-promote the drugs in Japan during the span of the agreement but will maintain its distribution and commercialization rights outside of the country. Financial terms of the deal were not disclosed. The contract encompasses several biosimilars in late-stage development, including one for arthritis medication Humira. WESTLAKE VILLAGE Westlake Village real estate investment trust LTC Properties Inc. has added a Georgia assisted living and memory care facility to its portfolio of properties. LTC paid $14.3 million for the newly built 70-unit Village at Athens near Athens, according to the company. The facility has 90 licensed beds, 50 assisted living units and 20 units for memory care. Including Village at Athens, LTC now partners with Atlanta, Ga.-based operator Thrive Senior Living on three facilities. Another two projects are in construction and expected to open by the end of the year. SAN FERNANDO VALLEY BURBANK Burbank-based CW Television Network and streaming entertainment provider Netflix of Los Gatos announced a licensing deal that allows Netflix to continue as the only U.S. subscription television service providing past seasons of scripted CW series. The new agreement includes all current CW programming, beginning with the just wrapped-up 2015-2016 season, as well as future series produced during the span of the contract. For next season, Netflix users will be able to stream full programs eight days after each show’s season finale. CALABASAS ImmunoCellular Therapeutics Ltd. filed a preliminary prospectus to offer up to 60 million shares of common stock, which the company anticipates will raise approximately $12.8 million in net proceeds. If approved by the Securities and Exchange Commission, the Calabasas cancer-treatment developer will sell each share of common stock with a 1 cent warrant to purchase an additional half share, which could raise the company an additional $2 million. Warrant prices will be determined based on the stock’s closing price on the trading day before pricing the offering and will expire five years from the issuance date. Irvine-based Premier Business Centers plans to open workspaces for rent in Calabasas later this summer as part of a national expansion. The provider of executive suites and work places has leased 14,527 square feet at 26565 W. Agoura Road in the Corporate Center Calabasas office park. The company will convert the space into 74 private office spaces, two conference rooms, a day office, a kitchen and a reception area. Premier provides internet and phones for clients who rent out the offices starting at 84 square feet. Clients can also rent offices by the hour and book meeting rooms by the hour, day or week. Premier said it plans to open between late August and mid-September. CHATSWORTH Capstone Turbine Corp. has shipped its first C1000S microturbine to Europe for use at a manufacturing facility in Slovenia. Capstone debuted in December the natural gas-powered, one-megawatt C1000S microturbine that incorporates system and design upgrades. The refractory material manufacturing facility in Slovenia chose the Capstone system for its high efficiency and energy savings. The microturbine will be used for primary power and its exhaust used to dry material during the manufacturing process. Changes in the C1000S microturbine include heat recovery modules providing up to 1.5 megawatts of recoverable heat energy, a two-stage air filtration system and a strengthened enclosure frame. PACOIMA The owner of the makeup brush retailer Morphe Brushes has bought a nearly 64,000-square-foot industrial building in Pacoima, according to L.A. commercial real estate brokerage CBRE Group Inc. Morphe’s owner, a limited liability company named Smdmnm, paid $8.43 million for 10303 Norris Ave. The 63,800-square-foot structure has two stories, 24-foot ceiling clearance, dock-high loading and a fully fenced concrete yard on 2.69 acres. Morphe has a retail store in Burbank. David Harding, Greg Geraci, Matt Dierckman and Billy Walk of CBRE represented the seller, Cohen Asset Management Inc., while Steve Marx and Chris Habitz of Capital Real Estate Inc. represented Morphe, according to CBRE. PORTER RANCH Another gas leak was discovered at Southern California Gas Co.’s Aliso Canyon facility near Porter Ranch on July 2, but it was small and quickly patched. The leak was reported Saturday during daily well inspections. The cause was cited as a failed threaded fitting on a 3-inch pipe. The leak was considered small, presenting no risk to employees or neighboring communities, and was stopped on Sunday, according to the company. In October, the facility discovered a leaking well that took nearly four months to plug, spewing an estimated 80,000 metric tons of mostly methane gas into the air. SANTA CLARITA VALLEY VALENCIA A five-building portfolio in Valencia and Santa Clarita has sold to Chicago-based real estate investment trust Jones Lang LaSalle Income Property Trust Inc. for about $64.5 million, according to the company. The warehouses total nearly 492,000 square feet with properties ranging in size from 31,300 square feet to more than 142,000 square feet. The seller was Clarion Partners, according to JLL Income. The REIT, which is advised by LaSalle Investment Management Inc. and sponsored by Chicago’s commercial real estate brokerage Jones Lang LaSalle Inc., said there’s a limited amount of vacant land available for building industrial warehouses in the L.A. market, and there’s a lot of competition for redevelopment sites. – Compiled by Stephanie Henkel

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