Port Panel OKs Truck Staging Lot
The Los Angeles Harbor Commission approved an 18‑acre truck staging lot in Wilmington, adjacent to I‑110, featuring 393 parking stalls. The project is a scaled‑down version of a previously rejected plan, eliminating container stacking and fuel facilities. Proponents limited parking to 24‑hour stays, added fencing and direct freeway access to address neighborhood concerns. The lot now moves to the California Coastal Commission, with a target opening by the end of 2028.
Firm Handles Multifamily Transactions
Marcus & Millichap brokered the sale of two high‑profile multifamily assets in Central Los Angeles. The 78‑unit Versailles Apartments fetched $47 million, roughly $602,564 per unit, and is described as a rare trophy property between West Hollywood and Beverly Hills. A second...
RV Company Evotrex Nets $30 Million Round
Evotrex, a hybrid electric RV startup, closed a $30 million Series A round in early June, bringing its total funding to $46 million. The cash will fund the final development and low‑volume production of its first hybrid trailer, the Evotrex‑PG5, which the company...
AI Marketing Platform Gets $7 Million
Clouted, an AI‑driven marketing platform, secured $7 million in seed funding led by Slow Ventures, with participation from Gold House Ventures, a16z Speedrun, Weekend Fund and Gondor Capital. The company’s Virality Engine ingests brand assets, generates short, high‑potential clips, and leverages...
Capstone Undergoes Rebranding
Capstone Green Energy, a long‑standing microturbine maker, announced a rebrand to Capstone Energy+ Inc. after securing a $112.5 million strategic investment to emerge from Chapter 11 bankruptcy. Vince Canino, a veteran with three decades in the energy sector, was appointed CEO and is...
FutureCorp Launches Space-Oriented SPAC
FutureCorp, founded by veterans of SpaceX, xAI, Palantir and Surf Air, launched its first space‑focused special purpose acquisition company, trading under ticker FTRA. The SPAC aims to take a high‑growth, late‑stage industrial space firm public within two years, priced at...
2026 Women’s Leadership Awards – INNOVATOR OF THE YEAR HONOREE
Delilah Lanoix, founder and CEO of Butterfli Technologies, was named Innovator of the Year at the 2026 Women’s Leadership Awards. Butterfli has built an integrated B2B/B2C mobility platform that serves seniors, people with disabilities, and healthcare networks, filling a gap...
Video Games Next Paramount Aim
Paramount Skydance announced the creation of Paramount Games Studio by merging Skydance Interactive and Skydance New Media, shifting from licensing to in‑house game development. The studio’s debut title is “Teenage Mutant Ninja Turtles: The Last Ronin,” while projects like “Marvel...
Allen Media Empire in Expansion
Malibu-based media entrepreneur Byron Allen, through Allen Family Digital, closed a $120 million deal on May 27 to acquire a 51% stake in BuzzFeed Inc., rescuing the digital publisher from imminent bankruptcy after it missed a $5 million debt payment. Allen plans to...
Ares Makes $910 Million Student Housing Buy
Ares Capital Management has teamed with The Scion Group to purchase a 7,578‑bed student housing portfolio for $910 million. The assets span twelve high‑growth university markets, including properties near Ohio State and the University of Florida, giving the partners exposure to...
Marcus & Millichap Seals $11.2-Million Sale
Marcus & Millichap brokered the sale of a 24,890‑sq‑ft Burlington Coat Factory site in Sherman Oaks for about $11.23 million. The property sits on nearly an acre on Ventura Boulevard, offering proximity to major malls. The buyer is an undisclosed local private...
OpEd: To Help Small Business, Look at Vision Care
California’s small and minority‑owned businesses are feeling a sharp rise in health‑care costs, with average family premiums climbing to $28,400—a 24% jump since 2022. Employees now shoulder about 27% of those premiums, and small‑group rates are expected to rise another...
Target Adds Roy Choi Snack Line
Celebrity chef Roy Choi has partnered with Target to debut a 10‑snack line under the retailer’s Good & Gather brand, rolling out May 31 in roughly 1,800 U.S. stores. The assortment ranges from wasabi‑ranch popcorn to pineapple‑infused meat sticks, reflecting...
FDA to Review Expanded Use of Cancer Drug
ImmunityBio announced that the FDA has accepted its filing to expand Anktiva’s indication for bladder cancer, with a decision expected by Jan. 6, 2025. The original approval covers BCG‑unresponsive carcinoma in situ, while the new request targets papillary‑only disease, a larger...
Startup Picogrid Raises $45 Million
Picogrid, a defense‑tech startup founded by former Army engineers, announced a $45 million Series A round led by Bessemer Venture Partners. The funding will expand its vendor‑agnostic integration platform that connects sensors, drones, AI tools and command systems for the U.S. military....