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SAN FERNANDO VALLEY BUSINESS JOURNAL Vol SFVBJ.COM SAN FERNANDO VALLEY BUSINESS JOURNAL Vol. 26, No. 2 THE COMMUNITY OF BUSINESS™ January 18 – 31, 2021 • $4.00 Burbank: Media Studios North hosts Radio Disney, which will shut down. Aerojet Meets Lockheed Need AEROSPACE: $5 billion offer for complementary rocket maker. By MARK R. MADLER Staff Reporter With its acquisition of Aerojet Rocketdyne Holdings Inc., Lockheed Martin Corp. will boost its presence in the space industry and the Valley. The Bethesda, Md.-based aerospace and de- fense contractor is buying Aerojet in El Segundo for $5 billion cash. Lockheed will pay $56 a share Please see AEROSPACE page 36 Plant ‘Turkey’ By Unreal Deli FOOD: Meat alternative lands in Ralphs, other supermarkets. DISNEY DOWNSIZE By ANDREW FOERCH Staff Reporter After Jenny Goldfarb cooked up a substi- Restructuring opens office space, but streaming service may fill it. tute for corned beef in her kitchen, she created Woodland Hills-based Unreal Deli to sell her By MICHAEL AUSHENKER real estate sector, where Disney leases hun- S. Buena Vista St., Disney occupies large creation. Later, the company secured $250,000 Staff Reporter dreds of thousands of square feet of space? swathes of office space in Burbank, much from billionaire investor Mark Cuban on the TV “That’s a huge employer in the Burbank of it owned by Blackstone Group or show “Shark Tank.” alt Disney Co. is now a streaming area,” said Kirk Lesh, assistant professor Worthe Real Estate Group. business. of Economics at California Lutheran In the Blackstone/Worthe building The Please see FOOD page 8 W Burbank’s biggest company University in Thousand Oaks. “’But the Tower, Disney occupies 115,673 square and a major tenant of office space made question is: How much further do they go? feet of a total 501,000 square feet at 3900 this declaration in October. So how will this How much more reconfiguring?” switch impact the Tri-Cities’ commercial In addition to its headquarters at 500 Please see REAL ESTATE page 37 New Hospital In Lancaster CRC’s Former Boss Talks About Tough Tenure HEALTH CARE: Joint venture to PROFILE: New owners ousted emerged from Chapter 11 in late October, it construct behavioral center. had new ownership and a new board, which Todd Stevens after Chapter 11. decided to replace Stevens, who had helmed By AMY STULICK Staff Reporter CRC since its birth as a spinoff in 2014. By ANDREW FOERCH Staff Reporter During his tenure, Stevens worked inces- A joint venture between Antelope Valley santly to bring down the company enormous Hospital and Kentucky-based Kindred “We fought really hard for six years to pre- inherited debt, a struggle resolved with the Healthcare plan to build a 125,000-square-foot, serve and protect shareholders’ value,” West Chapter 11 reorganization. His advice to man- two-story behavioral hospital in the Antelope Point graduate Todd Stevens, former chief agers at other debt-laden companies: “Control Valley. When completed, it will be the first treat- executive of California Resources Corp., told the controllable.” ment center of its kind in the state. the Business Journal in an exclusive interview. PHOTO BY MIKE BAKER When the Santa Clarita oil company Please see PROFILE page 6 On the Job: Stevens in oil field. Please see HEALTH CARE page 4 Restaurant Reopening Framework MAIL TO: LIST THE When Pasadena wanted a plan for its dining sector p. after COVID, it called a Cal Lutheran grad student. 3 PRIVATE HIGH SCHOOLS Tiny San Fernando’s Charm Ranked by students enrolled in 2020-2021 See page 13 The small city in the heart of the Valley, right, has p. 5 an active market for commercial real estate. 16 The San Fernando Valley Business Journal is proud to announce the 2021 Commercial Real Estate Awards. COMMERCIAL REAL ESTATE AWARDS Final nomination deadline Friday, February 5 To nominate, please visit sfvbj.com/bizevents 001_sfvbj_cover+JUMPS (36-37).indd 1 1/14/21 12:29 PM 2 SAN FERNANDO VALLEY BUSINESS JOURNAL JANUARY 18, 2021 SAN FERNANDO VALLEY BUSINESS JOURNAL ® LOS ANGELES • GLENDALE • SANTA CLARITA • BURBANK • CONEJO VALLEY • SIMI VALLEY • SAN FERNANDO • CALABASAS • AGOURA HILLS • ANTELOPE VALLEY JANUARY 18 - 31, 2021 VOLUME 26, NUMBER 2 Flooring franchise 10 Mall shopper? 11 AEROSPACE RETAIL 1 ACQUISITION Lockheed Martin Corp. offers 10 COLUMN A former Walmart de Mexico to buy Aerojet Rocketdyne Holdings Inc. executive brings a new home flooring franchise to the San Fernando Valley. ENTERTAINMENT 11 FILM Lighting retailer Lamps Plus appears in VALLEY INSIDER ‘Wonder Woman 1984’ movie. 3 PEOPLE Former saleswoman becomes the FOOD new chief executive of outsourced sales 3 RESTAURANTS Cal Lutheran student maps firm Cydcor. Pasadena’s plan for future of dining industry. THE LIST 8 MEAT Entrepreneur creates a business for her substitute corned beef and turkey. 12 LIST Valley’s private schools hold the line on tuition while offering aid to students. HEALTH CARE 13 Private high schools ranked by students 4 HOSPITAL Lancaster to host the state’s first enrolled in the current school year. center for mental health plus rehab. 9 PANDEMIC Bed capacity and staffing in REGULAR FEATURES the red, mortuaries overwhelmed as number 30 COMMUNITY OF BUSINESS of COVID patients increases. 32 CALENDAR Events around the Valley MEDIA THE ALLIANCE OF 33 AROUND THE VALLEYS AREA BUSINESS PUBLISHERS Salem Media Group Inc. prepares to 5 RADIO 34 MERGERS & ACQUISITONS enter the U.S. Latino Market with Salem Si. 2020 35 VALLEY 50 How Valley-area companies NONPROFIT performed on the stock market. EXCELLENCE AWARD 3 FUNDRAISER Valley Economic Alliance 39 INDEX DESIGN holds it first ever virtual gala. CATEGORY Best Overall Design – Small Newspapers COMMENTARY PUBLICATION San Fernando Valley Business Journal PROFILE AWARD 38 OPED Landlords are not villains but heroes Gold 6 Q+A Todd Stevens, former chief executive of during the coronavirus pandemic. California Resources Corp., looks back at his tenure at the oil and gas producer. 38 OPED Real estate industry has a lot of digging to do once the health crisis passes. WINNER: REAL ESTATE 1 BURBANK A downsizing by Walt Disney Co. BEST OVERALL DESIGN will result in more office space that may be filled by streaming service. CUSTOM CONTENT 16 FOCUS City of San Fernando may be small, 19 LABOR & EMPLOYMENT ROUNDTABLE but it has an active commercial real estate 29 Protecting Personal Information: A Guide for Business market. 36 PEOPLE ON THE MOVE 18 COLUMN Developer Gelt Inc. and Chinese “SOPHISTICATED TYPOGRAPHIC TREATMENT partner secure $83 million loan for mixed-use 37 BUSINESS MARKETPLACE AND DYNAMIC PHOTOGRAPHY” project in Reseda. San Fernando Valley Business Journal (ISSN 1526-0712) is published biweekly (26) by San Fernando Valley Business Journal, 21550 Oxnard St., Suite THREE-TIME GOLD WINNER 540, Woodland Hills, CA 91367. Periodicals postage paid at Los Angeles, CA and additional mailing offices. Subscription price: 26 issues, $49.95. To subscribe or for customer service, call (855) 856-4749. All other inquiries (818) 676-1750. Single copies, $4.00. Mailed copies, $6.00. Back issues, $9.00. Address and subscription inquiries to: Circulation Department, San Fernando Valley Business Journal, 11150 Santa Monica Blvd., Suite 350, Los Angeles, CA 90025. This newspaper is designed to inform decision-making executives, investors and managers on the trends, the growth and FOR BEST DESIGN the ideas important to commerce and industry in the San Fernando Valley. Information in San Fernando Valley Business Journal is gathered from sources considered to be reliable, but the accuracy of this information cannot be guaranteed. Neither that information nor any opinion which may be expressed here constitutes a solicitation for the purchase or sale of any securities. Opinions expressed in letters to the editor and commentaries are those of the authors and not necessarily those of San Fernando Valley Business Journal. POSTMASTER: Send address changes to San Fernando Valley Business Journal, Circulation Department, 11150 Santa Monica Blvd., Suite 350, Los Angeles, CA 90025. 002_sfvbj_toc.indd 2 1/14/21 12:34 PM JANUARY 18, 2021 SAN FERNANDO VALLEY BUSINESS JOURNAL 3 VALLEY Report Outlines INSIDER Restaurant Recovery JOEL RUSSELL Cal Lutheran grad student suggests plan for sector in Pasadena. Saleswoman to CEO By ANDREW FOERCH Staff Reporter Vera Quinn has been named Cydcor’s chief executive, in addition to her title of pres- After nearly 10 months of disrupted sales ident. She started and government-mandated lockdowns, Pas- as a door-to-door adena’s restaurant industry faces a long road saleswoman with to recovery. California Lutheran Univer- the outsourced sales sity graduate student Gregory Sefain has company more than identified several first steps city officials can 20 years ago. “Vera take to help the struggling sector. truly embodies the Sefain, who is working towards a mas- power of Cydcor’s ter’s in public policy and public administra- opportunity-based tion at the Thousand Oaks school, published business we are a report in November analyzing how certain committed to action by Pasadena officials could bolster the Vera Quinn creating,” Gary city’s restaurant economy, prevent permanent PHOTO COURTESY OF PASADENA INDEPENDENT Polson, former closures and boost consumer spending. Pandemic Mode: Waitstaff serves outdoor diners on sidewalk and street in Pasadena. chief executive and newly named executive The report, titled “The City of Pasadena chairman, said in a statement. In his new and the Economic Recovery Strategy for Sefain surveyed hundreds of local restau- desperate need of financial support, and there position, Polson will focus on long-term the Restaurant Industry,” serves as Sefain’s rants and interviewed community stakehold- are a variety of ways to offer that support.” planning. … V-Wave Ltd., the heart shunt capstone project for his degree. ers to analyze the needs of business owners He said the city’s economic development research company in Agoura Hills, has “The university wanted to try something and consumers.
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