Worthe Real Estate Group, a Santa Monica-based development and property management company, has begun construction on the 30-acre Warner Bros. Ranch Lot in Burbank. Its commencement reportedly marks the largest sound stage development in the nation. Already fully leased to Warner Bros., the $500 million project will consist of a 926,000-square-foot total campus, including 16 soundstages, a parking structure, a commissary, mill space and a 326,000-square-foot office complex. Stockbridge Capital Group is the project’s equity partner. “This is a big milestone for us, and we couldn’t be more excit ..read more

In a shocking action this past April, the California Public Utilities Commission gutted a policy that was fundamental to the incredible growth and success of our state’s solar power network. The results of this action were both predictable and devastating. In the year since this policy was revoked, new solar installations in California are down approximately 80%. Further, 17,000 direct solar industry jobs are estimated to have been lost, while solar business bankruptcies are rising at rates unseen in the evolution of the industry in California. It is painful to consider how ..read more

When Mike Whitmire co-founded accounting workflow automation platform FloQast Inc.in 2013, he wanted to address and streamline the pain points of business accounting work that he had experienced firsthand. The Sherman Oaks-based company has since grown to serve about 2,800 clients and recently reported a post-money valuation north of $1.6 billion. FloQast closed a $100 million series E round this month and is now charging towards an initial public offering. When managing financial operations at a business, an accountant must handle tasks such as month-end closes, compliance and risk management ..read more

Nearly six months after filing for bankruptcy, flexible space provider WeWork Inc. has filed a motion to assume its lease at 5161 Lankershim Blvd., a four-story, 205,000-square-foot office building located in North Hollywood’s Arts District. The property, which boasts close proximity to some of the biggest players in film and television, features modern private offices, lounges, a boardroom and two classrooms which can host upwards of 80 people. WeWork was able to work with the landlord to amend its lease terms to reach a new, mutually beneficial agreement, according to a WeWork spokesperson ..read more

No longer just characters in your favorite science fiction thriller, robots and artificial intelligence are already playing an increasingly significant role at local hospitals, and many stakeholders expect their importance within the health care industry to expand dramatically in coming years. According to a Morgan Stanley report released in August, 94% of the health care companies surveyed said they are now employing artificial intelligence or machine learning in some capacity. That Morgan Stanley report also projected the health care industry’s average estimated budget allocation for AI and ..read more

The release of its first-quarter earnings by Teledyne Technologies Inc. sent its stock price down. The shares of the Thousand Oaks aerospace, marine and digital imaging products manufacturer declined by about 11% on April 24 when it closed at $362.50, down from the previous day’s closing price of $407.06. On April 25, the stock price climbed 4% to close at $376.98. The company reported before the market opened on April 24 adjusted net income of $218 million ($4.55 a share) for the quarter ending March 31, a slight increase from the adjusted net income of $217 million ($4.53) in the same period ..read more

Two massive local water purification projects set to begin construction within the next 18 months have received up to $182 million from water wholesaler Metropolitan Water District of Southern California. The regional water agency funds are headed for a $700 million groundwater replenishment project in the San Fernando Valley and a $364 million water purification project in the Westlake Village area. Contractors have been selected for both projects, which are set to begin construction within the next 18 months. “For decades, investments in local projects have helped strengthen Southern Califor ..read more

The Los Angeles 1984 Summer Olympics introduced several innovations, such as the first-ever computerized scoring systems. These Olympics were financially successful, mainly due to corporate sponsorships and limited public funding. As a result, the 1984 Summer Olympics were a triumph for the United States: They established a legacy of organizational proficiency (expected from the upcoming Paris 2024 games). And they infused the city with a dramatic economic impact. With the return to Los Angeles of the Summer Olympics just four years away, I share the civic pride of L.A. in the international sp ..read more

The Warner Bros. Studios Tour Hollywood has kicked off a special tour of its backlot in conjunction with Turner Classic Movies. The TCM Classic Film Tour is a permanent part of the tour since launching on April 16 and takes visitors to some rarely seen portions of the studio. Guests can visit new points of interest including the exterior of James Dean’s apartment in which he resided while working on the lot, and the rose garden, which in the early years was Jack Warner’s tennis court and was surrounded by talent dressing rooms. Visitors will also have the chance to stop at ..read more

Santa Clarita-based orthopedic implant developer TriMed Inc. has been acquired by Melville, New York-based Henry Schein Inc. The deal, first announced in December, was finalized earlier this month. Financial terms of the transaction were not disclosed. Privately held TriMed, which was founded by brothers David and Robert Medoff in 1997, makes orthopedic implants that can be used as alternatives to traditional plates and screws to repair injuries to limb extremities, specifically foot and ankle and hand and wrist injuries. The company reported revenue of about $52 million last year and has abou ..read more