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News in Brief

SDSU Raised $8M For Basketball Facility

San Diego State University is more than half way toward raising enough money to build a new basketball practice facility on the campus, which will help it to maintain its status as a rising college hoops power, the university announced.

About $8 million of the total $14.5 million has been committed to the project that will encompass 23,500 square feet, room for two regulation basketball courts, locker rooms, team lounges, a film room and sports medicine room, SDSU Athletics Director Jim Sterk said.

Although the men’s and women’s basketball teams play at relatively new Viejas Arena, practices are usually held at 53-year old Peterson Gym. Men’s coach Steve Fisher has been asking for a new practice building since soon after he arrived.

The project will be financed entirely form private funds, not student fees or taxes, Sterk said. The facility could also raise funds through the sale of naming rights.

Design of the facility was done by JCJ Architecture, while the contractor will be Hunt Construction Group, the university said.

The project needs approval from the California State University System before it can proceed. The university hopes such approval can be obtained in January. Once fundraising is complete, the plan is to break ground in May with completion in 2014, the university said.

— SDBJ Staff Report

Median House Price Up 17.9% in October

The median priced house sold in San Diego County in October was $412,750, down 2 percent from September’s median, but up 17.9 percent from October 2012, according to the latest Dataquick market report.

The number of sales in San Diego last month also declined year-over-year to 3,509, a drop of 3.1 percent from the same month last year.

In the six-county Southern California region, the median price in October was $383,750, an increase of 21.8 percent over the same month in 2012, and up 0.5 percent from September, Dataquick said.

San Bernardino County represented the largest rise in the median house price with a gain of 35 percent over the 12 months.

The regional median price has risen 19 consecutive months with gains ranging from 10.8 percent to 28.3 percent in the past 15 months.

However, the median was still far off the median peak price of $505,000 in the spring and summer of 2005.

— Mike Allen

ViaSat Reports Q2 Revenue of $353.9M

ViaSat Inc., the Carlsbad maker of satellite equipment and provider of Internet services, reported fiscal 2014 second quarter net income of $1.9 million, compared with a net loss of $7.9 million for the like quarter of last year.

Revenue for the quarter that ended Oct. 4 hit a record $353.9 million, up 25 percent from the like quarter of last year.

For the first half, ViaSat reported a net profit of $794,000, compared with a net loss of $22.3 million in the first half of fiscal 2013.

Revenue in the first half reached $675 million, up 29 percent from the prior fiscal year’s first half.

CEO Mark Dankberg said the strong results came from continued steady growth of its Exede Internet service supplied through its own satellite, as well as every other business segment.

“New order flow this quarter was solid and helps sustain an exciting blend of current and emerging products and services,” Dankberg said.

Shares of ViaSat (Nasdaq: VSAT) fell about 7 percent Nov. 12 after the results were released to just below $60. Shares have ranged from $34.67 to $73.43 over the past 52 weeks.

— Mike Allen

Cohn Opens 17th Local Restaurant

San Diego-based Cohn Restaurant Group has opened Zigzag Pizza Pie, a new quick-service restaurant concept in Oceanside. The restaurant at 333 North Myers St. is the company’s 17th eatery now operating in San Diego County.

The industrial modern-style space seats 60 and is on the same block as Cohn’s 333 Pacific beachfront restaurant.

The company said the fast-casual Zigzag Pizza Pie has a “rock ’n’ roll vibe,” with vintage surf photos and high-definition menu panels on the walls. There is a “walk-up pizza bar,” where customers order pies from a range of ingredients or choose from a list of nine specialty pies.

The restaurant also has specialty salads, 50 wines and 100 bottled beers, including craft brews. It also sells nonalcoholic beverages including nostalgic bottled sodas.

Cohn Restaurant Group, started in 1981, is led by David and Lesley Cohn and operates one restaurant in Hawaii. Its other local eateries include Corvette Diner, BO-beau kitchen + bar and The Prado at Balboa Park.

— SDBJ Staff Report

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