Singpoli, an Arcadia-based investment and development firm, bought a 1.6 acre property at Lake Avenue and Union Street in Pasadena and plans to build a $60 million mixed use project, including a 165-room hotel and condo complex with 60 units. See also Arcadia Weekly, p. 11, May 11, 2017.
Newport Beach real estate developer Don Koll and Leon Black of New York-based Apollo Real Estate Advisors have made an unsolicited offer to invest approximately $180 million in Arcadia-based Santa Anita Cos.
The Arcadia Business Association has requested a moratorium on beauty and nail shop in the downtown business district. There are reportedly 16 salons downtown and another 8 more on First Avenue south of California.
Safeway Inc., parent company of Arcadia-based Vons/Pavilions, is changing operations to comply with a new law that calls for a 25 percent reduction in California's carbon emissions by the year 2020.
Upland-based Lewis Homes is in escrow to buy the old Foulger Ford site on Huntington Drive. Preliminary plans include a supermarket and two smaller retail spaces.
Shares of Safeway Inc. fell 4.5 percent after the Pleasanton-based parent company of Arcadia-based Vons/Pavilions said it expects second-quarter earnings will be below Wall Street estimates.
Rubbermaid Inc. announced that it has acquired Arcadia-based Decor Concepts, Inc., better known as Omni. Omni, which designs and manufactures commercial playground equipment, produces about $30 million in annual revenues.
Gayle Brewer, a 26 year-old Arcadia resident, runs a Pasadena-based business called Celia Caseta Inc. She provides professional makeup services. She plans to open locations in Arcadia and Northridge.
Arcadia-based Software Technologies Corp. is introducing a new computer software product that allows hospitals and other health-care networks to access medical and patient information via the Internet.
Entrepreneur Ronald Cheng sells ultra-soft microbead cushions in various cute shapes at the Westfield Shoppingtown Santa Anita. His cart based business is selling over 300-400 pieces a week.
Downtown Arcadia business owners establish a Community Benefit District, mandating they each pay an annual assessment on their property taxes to fund marketing programs and activities in hopes of bringing more people to the area. It is called a Property-Based Business Improvement Model. It is a private-sector initiative that bills local businesses by the same criteria used in Old Pasadena--according to their frontage, lot size and scope of any buildings on a given property. 60% of downtown Arcadia owners chose the plan, the result of a three year effort.