Canyon Country · Newhall · Saugus · Valencia · Stevenson Ranch · Castaic · Agua Dulce
Santa Clarita Valley Business Journal Santa Clarita’s Only Business Publication
$4.50 · Volume 8 · Number 11
www.scvbj.com
march 2017
SCV Knowledge Exchange:
Marlee Lauffer and Carrie Lujan Page 5
What is the Future of MannKind?
Communications professionals Carrie Lujan,left, and Marlee Lauffer. Dan Watson/The Signal
New Buildings Will Add Much Needed Industrial Space
By Patrick Mullen SCVBJ Editor
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annKind Corp. has built an in-house sales team that hit the road last month to boost sluggish sales of Afrezza, its inhalable form of insulin. The question the company faces is how much time the new sales team will have to do its job. The Valencia biopharmaceutical company’s stock has traded below Nasdaq’s minimum $1 ■ MannKind Corp CEO Matthew Pfeffer with the per share threshold since August. company’s Afrezza insulin inhaler. Photo by Jonathan Pobre. In September, Nasdaq gave the company notice that it would and ten, thus increasing the value of each delisted unless its stock closed above $1 per share. The company’s market capitalization share for 10 consecutive trading days by is not changed. March 13, 2017. “We cannot and will not allow the comAs that deadline approaches, the compa- pany to be delisted,” MannKind CEO ny has announced plans for a reverse stock Matthew Pfeffer said in a conference call split. That will reduce the number of shares See MANNKIND, page 14 outstanding by a factor of between three
Graded site of the IAC Commerce Center in Valencia. Courtesy photo.
By Patrick Mullen SCVBJ Editor
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usinesses looking for industrial space in the Santa Clarita Valley will have more options by the second half of this year, thanks to projects that are now under construction in the northwest part of the valley. The new space adds muchneeded capacity to a tight market for commercial space. Exterior walls are going up on three buildings at IAC Commerce Center at the top of Witherspoon Parkway near Valencia Commerce Center. The property is two miles west of the intersection of I-5 and Route 126. The site contains about 70 net acres or three million square feet of land, and will contain up to 1.3 million square feet of space, said Craig Peters, senior vice
president of CBRE Group, brokers for the property’s developer. He spoke at a walltilting ceremony at the site held on Feb. 15. International Airport Centers is developer of the project. Based outside Chicago, the privately held real estate operating company was formed in 1995. It owns or manages 3.2 million square feet of space. This project is part of another 1.7 million square feet under development. While Peters spoke, a crane behind him lowered a 40-ton wall section into its trench, part of a 116,000 square foot building that is one of three in the project’s first phase. Phase One includes buildings of 188,000 square feet (Building One) and 94,000 square feet (Building Two) in addition to the 116,000 square foot Building Nine. IAC bought the property from Sterling See IAC, page 9