The incident began at 1:37 p.m. with a report of an armed robbery in the 18300 block of Ventura Boulevard. When officers arrived, they were told the suspects were still inside the building.
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Police believed four suspects, potentially armed, were inside the building, possibly with a female hostage. The suspects were allegedly trying to rob a marijuana dispensary in the back of the strip mall.
"We don't believe that there was a hostage situation inside," Sgt. Hector Guzman said. "Was she a victim? Was she a witness? Was she a suspect?"
Officers cordoned off the area, evacuated nearby businesses and warned the public to stay clear.
"It's very dangerous. When I heard about this, I was shocked. I told my brother, stay home. Do not come out," Jonathan Yacobi said.
But by around 9 p.m. police said SWAT officers had entered the building and found nobody inside.
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For now, police believe there are four suspects on the loose.
Authorities said they will review surveillance video from surrounding businesses.
At one point during the standoff, a man was detained, but it is not clear to what extent, if any, he was involved in the incident.
The investigation is ongoing.