TOY MAKER EYES FORMER TIMES SITE.Byline: JULIA M. SCOTT and GREGORY J. WILCOX Staff Writers MGA Entertainment MGA Entertainment is a manufacturer of children's toys and entertainment products founded in 1997. Its products include the Bratz fashion doll line. External links
Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). site in Chatsworth and relocate its headquarters there from Van Nuys, the company said Tuesday. The toy maker, which became a major industry player with its Bratz dolls, is in escrow to buy the site for ``more than $10 million,'' said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Isaac Larian Isaac Larian (born March 28 1954, Kashan, Iran) is the Chief Executive Officer of MGA Entertainment, the biggest privately owned toy company in the world. He was born in Iran to Persian Jewish parents. , who would not disclose the sale price. The sale was brokered by Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. , which could not be reached Tuesday. Escrow is set to close in 60 days. Commercial broker Scott Caswell of Delphi Business Properties said that the property will likely fetch much more than $10 million. He is representing a buyer and seller about to close an $11 million-plus transaction for 80,000 square feet of space. The Times building is 250,000 square feet. ``It's pretty rich numbers; there is just no way around it. There is just so much to play around with,'' he said of the likely purchase price. Many of the 350 MGA (1) (Monochrome Graphics Adapter) A display adapter that employs Hercules Graphics, combining graphics and text on a monochrome monitor. (2) (Matrox Graphics Accelerator) A trade name used by Matrox Graphics Inc. jobs in Van Nuys will move to Chatsworth in three to five years, but it's too soon to tell the fate of the Van Nuys building, Larian said. ``It's going to be a two- to three-step thing,'' said Larian. ``In the beginning we are going to keep Van Nuys open ... but our bigger and more ambitious plan is to really build our headquarters in Chatsworth.'' The Times announced in December that it was shutting down the Chatsworth facility, eliminating 110 jobs and putting the 26-acre site up for sale. The Times' decision to sell the building ended a costly foray into the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. that began in 1983. The building on Prairie Street between Winnetka and Corbin avenues served as the Times' Valley headquarters, housing editorial, advertising, circulation, support operations and printing. Some of that printing work was transferred to other Times facilities. MGA plans to use some of the existing office space and build new offices. MGA's space in Van Nuys is about 160,000 square feet. Recent expansions at MGA created a need for more space. The company has grown to more than 350 employees in Van Nuys and counts about 600 worldwide. The toy maker has 100 open positions and last week purchased Little Tikes from Newell Rubbermaid, bringing the employee total close to 1,000. ``We are running out of room,'' Larian said. |
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