Stories for April 2016

Friday, April 29

Startup MyDx Inc. Makes Revenue Gains

San Diego’s MyDx Inc., a company that makes a handheld chemical analyzer for consumers, announced a jump in quarterly revenue as the startup gains traction.

Business Calendar for Week of May 2, 2016

Some of the business events planned in the county for the week of May 2, 2016, and beyond.

Gas Station with Retail Planned after $3 Million Land Buy in Vista

J&T Business Management of Corona has purchased a 4.6-acre land parcel in Vista for approximately $3 million, with plans to build and operate a nationally branded gas station with additional retail, according to brokerage firm Lee & Associates.

San Diego Apartment Property Sold for $3.6M

Fenway Properties I LLC of San Diego has purchased a 20-unit apartment property in the city’s Normal Heights neighborhood for $3.6 million, according to brokerage firm Marcus & Millichap.

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Industrial Property Sells for $3.5 Million

A buyer recorded as TP Otay Mesa LLC has acquired a two-parcel industrial site in Otay Mesa for $3.5 million, according to brokerage firm Lee & Associates.

Biocept Inc. Prices Common Stock Offering

San Diego-based Biocept Inc. is hoping to raise $5 million in an offering of its common stock, the company announced April 29.

Thursday, April 28

San Diego International Airport Traffic Rose 3 Percent in March

San Diego International Airport saw passenger traffic rise 3 percent in March over the same month of 2015, as the facility handled more than 1.7 million arriving and departing travelers.

Finistere Ventures, International Farming Corp. Launch Willow Hill Ventures

An agricultural technology and life sciences venture capital investor, Finistere Ventures, LLC, partnered with International Farming Corp., an institutional farmland owner in North Carolina, to launch Willow Hill Ventures.

ROIC Posts Increase in Revenue for First Quarter

Total first-quarter revenue at Retail Opportunity Investments Corp. (ROIC) rose 6.3 percent over the year-ago period, topping $42.6 million, the San Diego-based company reported.

Maxwell Technologies Inc. Completes Sale of Product Line

Maxwell Technologies Inc., a San Diego-based energy storage firm, announced the completion of the sale of its microelectronics product line to Data Device Corp., a subsidiary of ILC Industries Inc.

San Diego Region Construction Jobs Increase 6 Percent

The San Diego region gained 4,000 construction jobs from March 2015 to March 2016, according to an analysis of federal employment data by the Associated General Contractors of America.

Ignyta Inc. Looking to Raise $50 Million in Stock Offering

San Diego’s Ignyta Inc., a drugmaker developing cancer therapeutics, is hoping to raise $50 million in an offering of its common stock, the company announced Wednesday.

Means Testing Serious Business for Social Security

Workers younger than 66 lost up to $100,000 in Social Security lifetime benefits April 29. Why? Because the “File and Suspend” claiming strategy, which allowed a retiree to take benefits off a spouse’s record while deferring his or her own record, has been eliminated.

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These Socks Were a Shoo-In for Some Successful Fundraising

With more than 30 years of experience in the apparel industry, Carlsbad resident John Rich is hyper-aware of what is being worn in his community. And although there were plenty of Carlsbad T-shirts, hats and bags, he was hard-pressed to find a pair of Carlsbad socks.

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SLANTRANGE Secures $5 Million in Series A Round

SLANTRANGE, a local agricultural drone sensor and analytics company, announced April 28 it has secured $5 million in a Series A round of funding.

The Sights and Sounds of Many S.D. Locations Are Co.’s Work

TECH: Audio-Video Co. Is Hands On and Subcontractors Off

Walk into any large public venue in San Diego and it’s likely Pete Spencer had a hand in designing and installing its audio-video system.

Kombucha Brewer May Give ‘Healthy Buzz’ New Meaning

Co. Gets Good Distributor, Locks In Key Supplier in China

Healthy booze is in many ways an oxymoron, but a new craft brewery in Chula Vista says its alcoholic drinks may come with a wholesome upside.

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Coalition Launches Initiative to Promote More Jobs

A group of businesses and government leaders launched an effort Wednesday to collaborate on job creation across the San Diego County and Tijuana region.

Home of the month: Island of Luxury

Tucked away in La Jolla Farms down a curving, cobblestone drive is an exclusive, gated estate with a sleek, fresh approach to architecture. The manicured grounds of emerald-green lawns and layered foliage include a lake with its own island. Privacy, relaxation and fun beckons at every turn. Every imaginable luxury is here, including the coveted key to Black’s Beach gate.

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It’s Game On for Both Sides of Stadium Fight

Ballot: Chargers Field Fan Favorites; Other Side Submits Signatures

Two separate campaigns -- aimed at financing a future new downtown San Diego Chargers stadium, expanded convention facilities and possibly post-Chargers civic upgrades in Mission Valley – picked up significant momentum over the past 10 days.

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Paving The Way

Border Region Puts Transportation Infrastructure In Place to Support Free-Flowing Trade, Business and Commutes

Government leaders from both sides of the border recently marked what they said were major milestones impacting the long term-economic viability of the region where Otay Mesa meets Mexico’s Baja California.

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Region Gets Additional Dose of Life Science VC Funds

CAPITAL: Lumira, RiverVest Among Firms Adding a Local Presence

San Diego’s growing hub of biotech and other life science firms is attracting fresh investors to the region.

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New Wage Law May Have Some Workers Clocking Back In

LABOR: Wage Hikes Will Raise Threshold For Salaried Staff

Think California’s just-enacted minimum-wage increase only applies to low-paid hourly workers? Think again.

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Openness Is Big Asset for Credit Union Core Processor System

TECH: Corelation’s Small Size Allows Co. To Be More Flexible

A San Diego-based firm is a rising star among credit union core processor providers, creating a technology described as the lifeblood of any financial institution which keeps customer data and transactions in order.

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The Franchise Maker Guides Businesses on the Big Decision

CONSULTING: Both Businesses and Owners Must Possess Proper Traits

Franchise businesses make up a sizable portion of the country’s economy. They employ more than 9 million workers across nearly 800,000 establishments.

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System Takes Stock of Pharmacy Inventory and Processes

TECH: Carlsbad Co. Uses Radio Frequency in Labels To Help Monitor Meds

Tiny numbers on tiny bottles, which need an eagle eye. Trays and tackle boxes full of medicine, which need a good check before they go back into an operating room. Those are some of the less-glamorous details in the life of a pharmacy technician — details that MEPS Real-Time Inc. wants to automate.

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Boost of New Energy Fuels Nutrition Co.

SUPPLEMENTS: Reset Includes CEO, New Products

As the co-founders of San Diego startup RuckPack Inc. will tell you, it’s not always smooth sailing after 15 minutes of fame.

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After Weight-Loss, Arena Has Options

PHARMA: New Painkiller And Other Drugs Being Tested

It’s been a rocky year for Arena Pharmaceuticals Inc., but things are looking up with its latest experimental drug: a painkiller that mimics cannabis without the head high.

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S.D. Not Waiting To Be Discovered

FILM: City Casts Itself Into The Competition for Shoots

After several re-takes and reboots over the past 40 years, the latest version of San Diego’s film commission is turning to the web — among other reconfigured elements — to boost the region’s profile in the increasingly competitive world of media production shoots.

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Tide Turns in I.B.

DEVELOPMENT: Area’s Coastal Assets Effectively Used In Redevelopment

People with memories of Imperial Beach who have not seen the place in 10 or 20 years may be in for a surprise.

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Wednesday, April 27

Navy Awards Coffman Specialties Inc. $18 Million Contract

The U.S. Navy awarded Mira Mesa-based Coffman Specialties Inc. an $18 million task order for runway repair and aircraft lighting repair at Naval Air Station Fallon in Nevada, east of Reno.

Callaway Golf Reports Q1 Net Income of $38.4 Million

Callaway Golf Co., the Carlsbad maker of clubs, balls and golf accessories, reported net income of $38.4 million, or 40 cents per diluted share, on net sales of $274.1 million during its first quarter, which ended March 31.

Students from San Diego, Tijuana Compete for $100K in Seed Money

Student entrepreneurs from the University of San Diego and universities in Tijuana will compete for $100,000 cash at a “Shark Tank-like” competition Thursday.

Dexcom Reports 60 Percent Jump in Q1 Revenue

Dexcom Inc., one of San Diego’s biggest public medical technology firms, reported a 60 percent jump in revenue for the first quarter of this year.

Revenue Rises at American Assets Trust

American Assets Trust Inc. saw total revenue rise 7.1 percent from a year ago in its first quarter ending March 31, reaching $70.7 million, the San Diego-based real estate investment trust reported.

First Quarter Revenue, Net Income Rise at Realty Income Corp.

Realty Income Corp. posted an 8.2 percent increase in first-quarter revenue compared with the same period of 2015, topping $267.1 million, as net income available to common stockholders rose 4.9 percent, to $63.5 million.

Citizen Group Backing Hotel Tax Hike Submits 100,845 Signatures

A citizen group seeking to raise San Diego’s total current hotel taxes by 3 percent, to 15.5 percent, said it has gathered 100,845 voter signatures for an election measure targeted for the November ballot.

Bankers Hill Church Building Sells for $2.7 Million

A local buyer listed as Park6 Ventures LLC has acquired a church building in San Diego’s Bankers Hill neighborhood for $2.7 million, according to brokerage firm Lee & Associates.

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Tuesday, April 26

ResMed's Q1 Net Income Drops to $88.5 Million

San Diego medical device company ResMed Inc. reported a drop in net income for the first quarter of 2016.

Kratos Subsidiary Working With Government of Oman

Kratos Defense & Security Solutions Inc. said April 26 that its Kratos ISE subsidiary was working with the government of Oman on an advanced space radio monitoring system.

NuVasive's Q1 Earnings Report Better Than Expected

San Diego medical device maker NuVasive Inc. exceeded Wall Street expectations Tuesday when it reported a boost in revenue and an improved bottom line.

Brian Hughes Named Executive Director of Tourism Marketing District

The San Diego Tourism Marketing District has named hotel industry veteran Brian Hughes as the organization’s new executive director.

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Grocer Aldi Plans May 19 Opening for Vista Store

Discount grocer Aldi Inc. plans a May 19 opening for its first San Diego County store, at 1750 University Ave. in Vista.

San Diego Home Prices Up 6.4 percent

Home prices in San Diego rose 6.4 percent during the year ending in February, according to a housing market index, as price increases nationwide began to slow.

San Diego Apartment Complex Sold for $2.25 Million

Immobilier Fund LLC of Rancho Santa Fe has purchased a 15-unit apartment complex in San Diego’s Talmadge neighborhood for $2.25 million, according to brokerage firm Apartment Consultants Inc. (ACI).

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Sempra Energy Selling Two Subsidiaries in South

Sempra Energy on Tuesday said it was selling two utility subsidiaries in Alabama and Mississippi in a deal worth $400 million to The Laclede Group Inc., the holding company for a St. Louis-based utility.

Monday, April 25

Nimble Software Systems Receives $4 Million Series A Investment

Carlsbad-based Nimble Software Systems Inc. said April 25 that it received $4 million in series A funds from Australia-based Seek Ltd. The funding round closed April 16.

Ronald Rittenmeyer Named CEO at Millennium Health

Millennium Health, a drug-testing firm in San Diego, announced that Chairman of the Board Ronald Rittenmeyer is taking over as CEO.

S.D. Defense Industry Prospers Under GOP Budget

Republicans on the House Armed Services Committee unveiled a Pentagon budget proposal for fiscal 2017 that modifies the Obama administration’s.

DPR Construction Finishes $1.3 Million Balboa Park Girl Scouts Lodge

DPR Construction, a national general contractor with a San Diego office, recently completed a $1.3 million Girl Scouts Lodge at Girl Scouts San Diego’s campus in Balboa Park.

EDF Renewable Energy Acquires groSolar

San Diego’s EDF Renewable Energy on Monday said it had purchased Columbia, Maryland-based Global Resource Options Inc., an engineering and construction company for solar photovoltaic projects.

Escondido Apartment Property Sells for $16.7 Million

An affiliate of San Francisco-based Vista International has purchased a 100-unit Escondido apartment building for approximately $16.7 million, according to CoStar Group and public data.

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TownePlace Suites Hotel in Vista Sold for $15 Million

An affiliate of Anaheim-based Marwaha Group Inc. has acquired the 94-room TownePlace Suites hotel in Vista for $15 million, according to CoStar Group and public data.

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Developer Obtains Financing for East Village Apartments

Developer The Richman Group has obtained joint-venture equity financing for a previously announced, 221-unit apartment tower planned for East Village, according to HFF, which arranged the financing.

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What We Can Learn From Balboa Park’s LEED

The City of San Diego has positioned itself as a national leader by becoming the largest city in the U.S. to commit to 100 percent clean energy on the heels of the landmark agreement in Paris in 2015.

Community Answers Call to Support Women in Blue Luncheon

Record attendance marked the San Diego Police Foundation’s 6th Annual Women in Blue Luncheon at the Hilton San Diego Bayfront recently.

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Julian Offers A Small Yet Sweet Slice of Mountain Living

Julian is located just a bit more than an hour’s drive from San Diego and is famous for its apples, Gold Rush Days and an abundance of the county’s bed and breakfast inns.

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Executive Q&A Linda Young National Association of Women in Construction, San Diego Chapter

Linda Young secretly wanted a career on the building side of construction, but there were few women working in the field and even fewer available to mentor aspiring young women.

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Daily Dose

Adult Day Health Centers Among New Models for Aging Care

Every day in the U.S., 10,000 baby boomers reach age 65, about twice the rate of the prevous generation. By 2030, 18 percent of Americans will be at least 65, according to Pew Research Center projections.

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Aging Well

Senior Housing Developments Include Wine Bars and Salons

A 309-unit senior community set to break ground later this year in Carlsbad is among the latest examples of developers adding resortlike amenities to attract the baby boomer generation into its next phase of housing.

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Fish & Richardson Stands Above Crowd in IP Applications

Fish & Richardson has been ranked among the top 10 firms in the country with the greatest year-over-year increase in the number of patent applications filed at the U.S. Patent and Trademark Office (USPTO), based on research conducted by Juristat.

Port District Tees Up Its Preferences for Harbor Island Finalists

San Diego port district officials last year put the brakes on several proposals – with elements including a giant Ferris wheel and a Seattle-Space-Needle-like spire – that some critics thought might turn the downtown waterfront into something resembling a theme-park midway.

Water Act Puts Landscape Architects at Front End of Design

SUSTAINABILITY: New Regulations Drive Demand For Additional Work

Because of California’s water conservation measures and new stormwater rules, landscape architects are being asked to come into the building process earlier to design more sustainable, green infrastructure, increasing the amount of work they have in San Diego.

FAA Gives Clearance for Qualcomm Drones to Take Flight

AVIATION: Experiment Collects Data For Flying In National Airspace

The scene looked very official on a recent Thursday at Qualcomm Inc.: there was a pilot in command, a visual observer and flight safety people. Crew members wore reflective vests, hardhats and safety glasses, carried checklists and kept an ear out for radio traffic. All for some experiments on a rolling patch of suburban lawn.

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‘Excess Infrastructure’ Report Prompts Concerns over Closures

The 2017 Pentagon budget will come into a little more focus later this month as the House Armed Services Committee looks over the National Defense Authorization Act. It’s a big deal because the Pentagon spends a lot in San Diego County: $24.8 billion in fiscal 2015. That’s according to analysis by SDMAC, the San Diego Military Advisory Council.

Irvine Co. Joins Growing Development Fray in Mission Valley

REAL ESTATE: Firm Negotiating for Riverwalk Golf Course Property

Add Irvine Co. to the growing list of developers – now numbering at least a dozen – looking to add residential, commercial and civic elements to what is already a complex array of projects in the works for Mission Valley.

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Inventor Sees Technology as a Guide For Visually Impaired

SOFTWARE: Agents Would Assist Clients Through Cameras, Data

Suman Kanuganti is trying to break down barriers.

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How Startups Stand Out Despite Overcrowding

FINANCE: Competition On Funding Platforms Intensifies Challenges

San Diego startups are finding that crowdfunding websites such as Kickstarter and Indiegogo are getting rather, well, crowded.

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Trovagene Inc. Appoints Bill Welch to be CEO

A month after abruptly firing two top executives, San Diego’s cancer test company Trovagene Inc. has appointed a new CEO.

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Qualcomm Shows It’s Still in the Fight

TECH: Q2 Tops Forecast; Restructuring Is on Track

One year ago, everyone was down on Qualcomm Inc.

Gulls’ Return A Hit On Ice, at Box Office

SPORT: Teams Ranks 2nd In League Attendance

Even as Chargers fans gear up for an election battle to keep the football team in San Diego and the Padres struggle to come back from record-setting early-season futility, there is a bright spot in professional San Diego sports:

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Sempra Mexican Unit Meets With Resistance

ENERGY: Regulators Reject 3 Pipeline Proposals

Sempra Energy’s Mexican arm has lost three bids in as many weeks to build and operate natural gas pipelines in Mexico, as the country’s state-owned electricity utility said Sempra’s proposals did not meet its standards.

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Out of the Shadows

BIOTECH: Co. Emerges With Anti-Aging Results; Some in Industry Are Skeptical

Osman Kibar is nonchalant, as billionaires go, but he’s nothing if not confident. Dressed in a fading polo shirt and old jeans, he leans back in his chair, intertwines his fingers and fights a knowing smile. He knows why I’m here.

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Sunday, April 24

Annex Brands Acquires Pak Mail Centers of America

San Diego-headquartered shipping services provider Annex Brands Inc. has acquired Colorado-based Pak Mail Centers of America Inc.

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Human Longevity Inc. Signs 10-Year Deal With AstraZeneca for Genomics Work

San Diego’s Human Longevity Inc. struck a deal with pharma giant AstraZeneca and its global biologics R&D arm, MedImmune, the companies announced April 21.

The Magnolia State Christened at General Dynamics NASSCO

General Dynamics NASSCO was scheduled to christen the tanker Magnolia State on Saturday, April 23.

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The Business Calendar for the Week of April 25, 2016

Some of the business events planned in the county for the week of April 25, 2016 and beyond.

Chelsea Plans Affordable Housing Project After $6.57 Million Land Buy

Carlsbad-based developer Chelsea Investment Corp. has purchased a four-acre property in San Diego’s San Carlos neighborhood for approximately $6.57 million, with plans to redevelop it into an affordable housing community.

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Scripps Ranch Office Building Sells for $4.45 Million

Local investor Stacey Adams Draminga has acquired a two-story Scripps Ranch office property for $4.45 million, according to brokerage firm Colliers International Group Inc.

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San Diego County Credit Union’s Assets Up 8% in Q1

San Diego County Credit Union’s assets grew nearly 8 percent in the first quarter reaching $7.4 billion, the credit union said April 22 in an earnings report.

Zortman Assumes Chairman Role for San Diego Regional EDC

The San Diego Regional Economic Development Corp. announced the appointment of Jim Zortman as chairman. Zortman succeeds Vincent Mudd, managing partner at Carrier Johnson + Culture, who held the post since 2014.

Founder of Jackson Design and Remodeling Launches Home Expressions

Todd Jackson, founder and chief executive officer of Jackson Design and Remodeling, launched a new business venture, Home Expressions.

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Friday, April 22

Chelsea Investment Plans Affordable Housing Project After $6.57 Million Land Buy

Carlsbad-based developer Chelsea Investment Corp. has purchased a four-acre property in San Diego’s San Carlos neighborhood for approximately $6.57 million, with plans to redevelop it into an affordable housing community.

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Annex Brands Inc. Acquires Pak Mail Centers of America

San Diego-headquartered shipping services provider Annex Brands Inc. has acquired Colorado-based Pak Mail Centers of America Inc.

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Business Calendar for Week of April 25, 2016

Some of the business events planned in the county for the week of April 25, 2016, and beyond.

Human Longevity Signs 10-Year Deal With AstraZeneca for Genomics Work

San Diego’s Human Longevity Inc. struck a deal with pharma giant AstraZeneca and its global biologics R&D arm, MedImmune, the companies announced April 21.

Thursday, April 21

Chargers Release Renderings for Hybrid Stadium-Convention Facility

The San Diego Chargers have released renderings of a proposed downtown hybrid stadium and convention facility, ahead of the official start of a signature-gathering drive to place the $1.8 billion project before city voters in November.

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Skylit Medical Raises $400,000 in Latest Round

San Diego medtech Skylit Medical raised fresh capital this week and added two board members.

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San Diego County Medical Society Foundation Rebrands

San Diego County Medical Society Foundation has rebranded, changing its name to Champions for Health.

Seacoast Commerce Banc Posts Q1 Income of $1.7 Million

First-quarter income at Seacoast Commerce Banc Holdings rose 28 percent to $1.7 million, Seacoast Commerce Bank’s parent company said Thursday.

Audit Finds Adequate Security for City's Online Tax Collection System

San Diego’s online tax collection system uses appropriate security measures, a report from City Auditor Eduardo Luna said Wednesday.

Uber Launching Carpooling Service in San Diego

San Francisco-headquartered Uber Technologies Inc. plans an April 25 launch in San Diego of its UberPool ride-hailing service, allowing customers heading to the same destination to share rides at a discounted price.

Carlsbad Retail Center Owner Obtains $43 Million in Refinancing

Connecticut-based owner Cornerstone Real Estate Advisers LLC has obtained $43 million in refinancing for its Bressi Ranch Village Center in Carlsbad, according to CBRE Group Inc., which arranged the loan.

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Otay Mesa Industrial Buildings Sold for $45.2 Million

A San Diego buyer recorded as Siempre Viva Industrial LLC has acquired a two-building industrial portfolio in Otay Mesa for $45.2 million, according to CoStar Group and public data.

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Wednesday, April 20

Qualcomm Beats Earnings Estimate, Settles Dispute with LG Electronics

Wireless technology specialist Qualcomm Inc. reported net income of $1.2 billion, or 78 cents per share, on revenue of $5.6 billion in its second quarter, which ended March 27.

Sanford Burnham Partners with GlaxoSmithKline

One of San Diego’s top research facilities has partnered with pharma giant GlaxoSmithKline to form a new center focused on neuroscience in La Jolla.

Oceanside Apartment Complex Sells for $26.5 Million

Milano Apartments Homes LP of San Diego has purchased a 114-unit Oceanside apartment complex for $26.5 million, according to brokerage company Marcus & Millichap.

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Shares of Illumina Inc. Suffer Biggest One-Day Loss

A weak earnings forecast driven by disappointing sales in Europe hammered shares of San Diego-based Illumina Inc. during trading Tuesday and Wednesday.

Pima Medical Institute Plans New Location in San Marcos

Healthcare education provider Pima Medical Institute has signed a long-term lease for a space at the North City mixed-use development in San Marcos, the project’s developer announced.

Kratos Awarded $5 Million Contract

Kratos Defense & Security Solutions Inc. said on April 20 that it received a $5.0 million contract for hardened tactical facilities.

Bob Baker Toyota Acquired by New Dealership Group

The former CEO of one of the country’s largest car dealership groups is launching his own business, starting with an acquisition in Lemon Grove.

SeaWorld Drops Plans for Orca Habitat Expansion

SeaWorld San Diego has notified the California Coastal Commission that it is dropping plans for a $100 million expansion of its orca habitat, following an earlier decision by its parent firm to discontinue whale breeding at all of its marine parks.

Tuesday, April 19

Michael Kim Named VP at Objective Capital Partners

Objective Capital Partners LLC, an M&A investment bank, on Tuesday said it had hired Michael Kim as vice president, overseeing the firm’s execution of banking activities.

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San Diego Region Ranks 9th in the Country for Patents

A report from the U.S. Patent and Trademark Office shows that the San Diego region comes in ninth for the number of technology patents granted with over 34,000 patents, among other metropolitan areas from 2000-2013.

Walker Named General Manager at Hilton San Diego Bayfront Hotel

Hilton Worldwide has named Tracy Walker as area general manager for the San Diego region, with duties that include direct oversight of the 1,190-room Hilton San Diego Bayfront hotel.

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New Traffic System Allowing Commuters to Navigate I-15 Accidents Launches Thursday

A new system of electronic signs and traffic signal meters that will allow drivers to quickly get around major accidents clogging up Interstate 15 is set to go into effect Thursday, according to the San Diego Association of Governments, the region's planning agency, and Caltrans.

Poway Retail Center Sells for $4.85 Million

A buyer listed as Senang Investments LLC of San Diego has purchased the Poway Town Center retail property for $4.85 million, according to brokerage firm Duhs Commercial Inc.

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Coherent Technical Services Awarded 2-Year, $20.5 Million Navy Contract

The U.S. Navy lab on Point Loma awarded Coherent Technical Services Inc. a two-year, $20.5 million contract modification to conduct research and development on emerging navigation technology.

Talks Continuing on Tourism Marketing District Lawsuit

Talks are continuing on a potential settlement of a citizen group’s lawsuit related to the funding mechanism for the San Diego Tourism Marketing District.

Adtile Technologies Raises $2 Million From Private Investors

Adtile Technologies, a mobile software provider based in Sorrento Valley, said that it raised $2 million from undisclosed private investors.

Monday, April 18

Neighborhood National Bank Beefing Up Compliance Program

San Diego-based Neighborhood National Bank has agreed to beef up its anti-money laundering capabilities, federal regulators said Friday, in a deal that will stave off enforcement proceedings from the Comptroller of the Currency.

BIOCOM to Open Office in L.A.

San Diego’s biotech trade group BIOCOM announced Monday that it’s opening an office in Los Angeles.

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SDSU to Award Honorary Degrees to Susan Salka and Irwin Zahn

San Diego State University announced it will award honorary doctorates to local health care executive Susan Salka and engineering entrepreneur Irwin Zahn.

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Cubic Executive Tapped to Help Develop Transportation System App

A Cubic Corp. executive has joined a group investigating a new idea in public transportation — one that would bill a rider at the end of the month for all the transportation services that particular rider used.

Biocept Signs Pact With Quest Diagnostics to Expand Test's Reach

San Diego’s Biocept Inc. struck a deal with Quest Diagnostics Inc. that will expand the use of Biocept’s tests into Mexico.

Bank of the Internet Stock Takes Another Hit

Bank of the Internet sought to reassure investors Monday after its share price fell more than 10 percent in the past week amid renewed coverage of a shareholder class action alleging the bank manipulated its financial records.

Qualcomm, Chinese Co. Reach Patent License Agreement

Qualcomm Inc. announced on April 18 that it reached a patent license agreement with Yulong, an electronics company based in China.

Trammell Crow Buys Land at Millenia for $15.45 Million

A local affiliate of Dallas-based Trammell Crow Residential Co. has acquired approximately 9.4 acres of land within Chula Vista’s Millenia development for $15.45 million, according to CoStar Group and public data.

Three Local Sport Chalet Stores Set for Closing

Three San Diego locations of Sport Chalet are slated to close, following an announcement by Vestis Retail Group that it is shutting all 47 U.S. locations of the sporting goods chain.

Sunday, April 17

Port Is Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

$40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

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Army Deals Worth $17.6 Million for GA-ASI

The U.S. Army recently awarded aerospace engineering work to General Atomics Aeronautical Systems Inc., which builds the Army’s Grey Eagle unmanned aircraft.

County Unemployment Rate Remains 4.7% for March

San Diego’s unemployment rate has been flat at 4.7 percent from January to March, with a growing labor force keeping up with positive labor movement.

The Business Calendar for the Week of April 18, 2016

Some of the business events planned in the county for the week of April 18, 2016, and beyond.

MabVax Therapeutics Holdings Names Chief Business Officer

San Diego’s MabVax Therapeutics Holdings Inc. has hired Dr. Paul Resnick for the newly created position of vice president and chief business officer.

San Diego Regional Chamber of Commerce Leads Binational Trade Delegation to Mexico City

The San Diego Regional Chamber of Commerce is leading its 11th annual California-Mexico Trade Initiative to Mexico City April 17-20 with nearly 90 business leaders and government officials from San Diego and Baja.

Berkshire Hathaway HomeServices California Appoints Blaylock CEO, President

San Diego-based Berkshire Hathaway HomeServices California Properties announced the promotion of Mary Lee Blaylock to president and chief executive officer.

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Blue Sky Broadcast Changes Name to Blue Sky eLearn

Blue Sky Broadcast, a provider of educational technologies and event services, recently announced it has changed its name to Blue Sky eLearn.

Friday, April 15

Port Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

A $40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

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Business Calendar for Week of April 18, 2016

Some of the business events scheduled in the county for the week of April 18, 2016, and beyond.

S.D. Unemployment Rate Flat at 4.7% for March

San Diego’s unemployment rate has been flat at 4.7 percent from January to March, with a growing labor force keeping up with positive labor movement.

Berkshire Hathaway HomeServices California Appoints Mary Lee Blaylock CEO, President

San Diego-based Berkshire Hathaway HomeServices California Properties announced the promotion of Mary Lee Blaylock to president and chief executive officer.

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MabVax Therapeutics Hires Chief Business Officer

San Diego’s MabVax Therapeutics Holdings Inc. has hired Dr. Paul Resnick for the newly created position of vice president and chief business officer.

Thursday, April 14

Co. Adds Two More Bitcoin ATMs, in Oceanside and National City

New York-based bitcoin ATM provider Coinsource said Thursday it had expanded its offerings in San Diego, adding two new machines in Oceanside and National City.

Award to S.D. Workforce Partnership to Fund Effort to Encourage Private Investment

The San Diego Workforce Partnership on Thursday said it had received a $200,000 award to lay the groundwork for a system of attracting private investment in workforce development projects.

Illumina to Invest $100M in VC Firm Established by Former Exec

San Diego-based Illumina Inc., the world’s largest maker of DNA sequencing machines, announced Thursday it will invest $100 million in a new venture capital firm established by a former Illumina executive.

Navy Awards Contracts For Work on USS Theodore Roosevelt

The U.S. Navy recently awarded Virginia-based Huntington Ingalls Industries contracts covering an extended maintenance period for the aircraft carrier USS Theodore Roosevelt, which arrived in its new San Diego homeport in November.

Historic Sherman Heights Apartment Property Sells for $5.3 Million

San Diego-based SENTRE Inc. has acquired a 27-unit historic apartment building in the city’s Sherman Heights neighborhood for $5.3 million, according to the buyer and brokerage firm ACRE Investment Real Estate Services.

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Balboa Park Perfect Home for Smithsonian West

The Smithsonian Institution in Washington, D.C., was established in 1846 for “the increase and diffusion of knowledge” and is administered by the United States government. Its collection consists of more than 138 million objects, artworks, and specimens in what is the world’s largest museum and research complex — 19 museums and galleries, the National Zoological Park and nine research facilities.

Junior Seau Foundation Provides Wave of Support for CAF

The Junior Seau Foundation presented a $250,000 check to the Challenged Athletes Foundation (CAF) to launch the Junior Seau Foundation Adaptive Surf Program. Junior Seau was an avid surfer, and his legacy will live on through this life-changing program that will provide access to surfing for kids with physical challenges.

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Money Doesn’t Grow on Trees, but What About Near Them?

GREEN: City Aims for More Trees, Seeing Benefit To Business, Homeowners

Trees are good for business. That’s what one downtown neighborhood has found and what many more might find with the city’s latest effort to increase the number of trees in San Diego.

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S.D. Firm Among Four Small Businesses to Receive Pentagon Contracts

Herman/JCG Co. JV of San Diego is among four small businesses that received multiple-award contracts for design and build construction services, the Pentagon announced on April 8. The Army Corps of Engineers in Little Rock, Ark. awarded the deals.

New Mexico Firm Buys Downtown Tower for $55 Million

Gemini Rosemont LLC of Santa Fe, N.M., has purchased a 19-story downtown San Diego office tower for $55 million, according to CoStar Group and the buyer.

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LRAD Corp. Receives $490,000 Award From Foreign Customer

Electronics maker LRAD Corp. said on April 14 that it received an award worth slightly less than a half-million dollars from a coast guard agency in an unspecified country in Southeast Asia. It is a repeat customer.

Dirty Work Begins on CAP

SUSTAINABLE: Cost Of Renewable Energy Goal Is a Big Unknown

Four months ago, the San Diego City Council unanimously approved Mayor Kevin Faulconer’s ambitious climate plan, putting the city on a legally binding path to cut greenhouse gas emissions in half by 2035. Most of those savings will come from the city’s pledge to eventually use 100 percent renewable energy.

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Nature And Nurture

Startup Pursues Algae-Based Proteins That Could Give Baby Formula a Big Boost in Its Protective Powers

Steve Mayfield, a veteran of San Diego’s algae industry, has launched a new venture set on improving the standard recipe for baby formula. The newest ingredient? Algae, of course.

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Experian’s ‘Special Forces’ Deploy Locally in Data, Analytics

A couple of years from now, the process of buying a car might be more of a self-service exercise.

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Rental Cars’ Exit Left Big Opening for Redevelopment

PROPERTY: Port Staff Favoring 2 of 6 Proposals For Harbor Island

San Diego port commissioners were scheduled on April 14 to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots. Proposed new elements include hotels, office buildings, public plazas, an aquarium, and a high-tech golf driving range.

Big Development Opportunity Draws a Crowd of Contenders

PROPERTY: Seaport Village Project Is Rare Chance for Coastal Work

The Unified Port of San Diego has no shortage of companies looking to be part of what eventually replaces the iconic Seaport Village, on a portion of the downtown San Diego waterfront that spans 70 acres.

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App Sets Its Sights on Construction Site Labor, Resources

SOFTWARE: ServicePair App in Beta Testing With 400 Mostly Local Users

Think of ServicePair as a virtual job board for the construction industry.

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Aqua Design Offers Stalk Option: Desktop Greenhouse System

RETAIL: It Includes Air Filtration and Aesthetic Features

Dear fellow plant killers: our days of watching the indoor fern slowly wilt away may be over.

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Culture Is Paired With Wine on Baja Tour

TOURISM: Wine Pub Gets Boost in Business, Reputation

Traveling along a one-lane dirt road in Baja California, Mexico, Sandy Hanshaw thought there couldn’t be anything out there. Instead, she found a business opportunity in the vineyards of Valle de Guadalupe.

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Holding Pattern

TRAVEL: Six-Year-Old Airline Still Waiting to Be Cleared for Takeoff

At age 95, the founder of the fledgling — though yet to fly — California Pacific Airlines remains adamant that the region needs a North County alternative to the landlocked San Diego International Airport for commercial air service.

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TMD Again Has Target On Its Back

TOURISM: Stadium, Lawsuit Could Affect Funding

Hoteliers and other advocates for the San Diego Tourism Marketing District were not happy in 2013 when Mayor Bob Filner began his brief and controversial tenure by choosing not to renew what was at that time a five-year-old program intended to support local visitor programs.

ETF Designer Has Eye for Opportunity

FINANCE: New Indexes Track Various Market Segments

Jane Edmondson has noticed an uptick in unsolicited advice since she started a new business designing new varieties of exchange-traded funds (ETFs). The products, similar to mutual funds, track an underlying index that can mirror anything from the overall market leaders to a more trendy market niche.

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Wednesday, April 13

Bumble Bee Signs Pact to Buy 'Sustainably' Caught Tuna

Bumble Bee Seafoods on Wednesday said it had signed an agreement to buy "sustainably" caught tuna from a group of mostly island nations in the Pacific.

Watkins Manufacturing Rebrands as Watkins Wellness

Watkins Manufacturing Corp., the world’s largest manufacturer of hot tubs, has rebranded under the name Watkins Wellness following its acquisition of Endless Pools Inc. last year.

State Awards Cleantech San Diego $5 Million Grant

Local industry group Cleantech San Diego has been awarded a $5 million grant to grow the region’s energy innovation industry, the company announced Wednesday in an email to its members.

Vista Apartments Sold for $5.5 Million

Newkirk Family Trust of San Diego has acquired a 20-unit apartment property in Vista for $5.5 million, according to brokerage firm Marcus & Millichap.

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San Diego, Tijuana Mayors to Welcome World Leaders to San Diego Region

San Diego Mayor Kevin L. Falcouner and Tijuana Mayor Jorge Astiazarán will welcome more than 50 world leaders to San Diego on April 14 for an innovation and investment tour.

Three County Firms Awarded Navy Contracts Worth Up to $50 Million

Three San Diego County small businesses received contracts to remove and install nonskid surfaces to the decks of U.S. Navy ships in the San Diego area. Work could extend to 2021.

Ex-Illumina Exec Kirk Malloy Joins Board of Edico Genome

Bioinformatics firm Edico Genome Corp. has named Kirk Malloy, a former top Illumina executive, to its board of directors.

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Carlsbad Apartment Property Sells for $9.35 Million

A buyer listed as Bella La Costa LLC of San Diego has purchased a 24-unit apartment property in Carlsbad for $9.35 million, according to brokerage firm Marcus & Millichap.

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Key Patent for Portable Genomics Gets Approval

Portable Genomics, a digital health company working on a mobile app to view personal genomic data, has received approval for a patent vital to the company’s app development, the company announced Wednesday.

Tuesday, April 12

Cubic Awarded Four-Year, $3.6 Million Contract

Cubic Corp. said April 11 that it received a four-year, $3.6 million contract to support the U.S. Army Europe Joint Multinational Readiness Center at Hohenfels in Bavaria, Germany.

Settlement Reported Pending in Suit over Tourism Marketing District

A settlement reportedly is in the works over the fate of San Diego’s Tourism Marketing District, which is the subject of a pending lawsuit and targeted for elimination in a citizens’ coalition’s proposal to raise the city’s hotel taxes by 5 percent. However, the city attorney said he had no knowledge of any settlement.

WD-40 Reports Q2 Net Income of $13.7 Million

WD-40 Co., which produces its namesake lubricant as well as other chemicals, reported net income of $13.7 million, or 94 cents per diluted share, on net sales of $94.6 million in the second quarter ending Feb. 29.

Former Qualcomm President Steve Altman Joins Enevate Corp.

San Diegan Steve Altman has joined the advisory board of Enevate Corp., an Irvine-based company developing a new kind of lithium-ion battery.

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San Diego Coastkeeper Names Tracie Barham Executive Director

San Diego Coastkeeper, a nonprofit that looks to protect and restore San Diego County’s water, announced Tracie Barham has been named its executive director.

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Santee Retail Property Sells for $27.5 Million

Union City Investments LLC of Santa Monica has acquired the four-building Santee Town Center retail property for approximately $27.5 million, according to CoStar Group and public data.

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Index Finds San Diego Businesses Feeling More Optimistic

San Diego business optimism rebounded in March from a disappointing February, with a local index rising above its historical average for the first time in nine months.

USC Report: Apartment Rents to Keep Rising through 2018

Despite rising construction, increasing demand for apartments will keep vacancies low and drive significant rent increases in San Diego County and elsewhere in Southern California over the next two years, according to a University of Southern California forecast.

Monday, April 11

Governor Signs Bill Expanding Paid Family Leave

Gov. Jerry Brown on Monday signed legislation expanding the state’s paid family leave program, boosting the amount of money workers can receive when caring for sick family members or caring for newborn children.

Trovagene Inks Test Agreement With PPO Network Stratose

Trovagene Inc., a company making liquid biopsy tests in San Diego, has entered into an agreement with Stratose Inc. to establish health plan access to Trovagene’s tests.

Novatel Wireless Sells One Hardware Line, Cancels Sale of Another

Novatel Wireless Inc. wrapped up a sale of hardware module product lines to Telit Wireless Solutions Inc. for $14.75 million, the company said on April 11.

Torrie Inouye Appointed President of National Funding

Alternative lender National Funding on Monday said it had appointed Torrie Inouye as president after several years as executive vice president of data and analytics.

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Grubhub Expands Restaurant-Focused Service to Local Market

Chicago-based Grubhub Inc. has expanded to the San Diego market with its delivery services geared to restaurants that do not currently have in-house delivery staff.

Irvine Firm Buys Escondido Apartment Property for $7.7 Million

The Bascom Group LLC of Irvine has acquired a 43-unit apartment community in Escondido for $7.7 million, the buyer announced.

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$15.5 Million Point Loma Marine Facility Finished for UCSD

Marathon Construction Corp. recently completed the $15.5 million replacement of the Nimitz Marine Facility in Point Loma for the University of California, San Diego.

El Cajon Apartments Sold for $3 Million

Chasin Coleman Family Trust of San Diego has purchased an 18-unit apartment property in El Cajon for $3 million, according to brokerage firm Apartment Consultants Inc. (ACI).

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Molecular Stethoscope Forms Ties with 28 Institutions

Molecular Stethoscope Inc., a San Diego firm working on blood-based early detection and disease monitoring tests, announced Monday that it has formed collaborations with 23 academic and medical institutions nationwide.

Sunday, April 10

Construction to Begin on Makers Quarter Apartment Project

Developers have scheduled an April 11 ground-breaking for the Broadstone Makers Quarter apartment complex, the first project to move forward in the mixed-use Makers Quarter in East Village.

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Port District Is Reviewing 6 Proposals to Redevelop Harbor Island Property

San Diego port commissioners on April 14 are scheduled to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots.

Kearny Mesa Office Building Sold for $7 Million

AAE Pacific Park Associates LLC of San Diego has purchased a Kearny Mesa office building for $7 million, according to brokerage firm Marcus & Millichap.

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Allegiant Begins Nonstop Flights between San Diego, Stockton

Las Vegas-based airline Allegiant recently began new non-stop service between Stockton and San Diego International Airport.

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San Diego Ranked Fifth for Luxury Home Sales Increase

San Diego and La Jolla were some of the country’s fastest growing areas for luxury home sales last year, a report from Coldwell Banker said recently.

The Business Calendar for the Week of April 11, 2016

Some of the business events scheduled in the county for the week of April, 11, 2016, and beyond.

Viking Therapeutics Expects $9.4 Million From Public Stock Offering

La Jolla-based Viking Therapeutics announced a public offering of its stock expected to bring in about $9.4 million.

LEAD San Diego Names Stewart Interim CEO

LEAD San Diego, which helps promising leaders in business and the community learn about issues affecting the region, and gives them opportunities to network, announced Lorin Stewart as the group’s interim CEO.

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DJO Announces CFO's Retirement

Vista-based medical products manufacturer DJO Global announced April 8 that its CFO, Susan Crawford, has decided to retire from the company.

Friday, April 8

Business Calendar for Week of April 11, 2016

Some of the business events scheduled in the county for the week of April 11, 2016, and beyond.

Port District Reviewing 6 Proposals to Redevelop Harbor Island Property

San Diego port commissioners on April 14 are scheduled to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots.

Viking Announces Public Offering of Stock

La Jolla-based Viking Therapeutics announced a public offering of its stock expected to bring in about $9.4 million.

DJO Global Announces CFO's Retirement

Vista-based medical products manufacturer DJO Global announced April 8 that its CFO, Susan Crawford, has decided to retire from the company.

LEAD San Diego Names Lorin Stewart Interim CEO

LEAD San Diego, which helps promising leaders in business and the community learn about issues affecting the region, and gives them opportunities to network, announced Lorin Stewart as the group’s interim CEO.

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Thursday, April 7

Construction Jobs Increased by 9 Percent Over 12-Month Period

Construction employment in the region increased by 9 percent over a 12-month period, according to an analysis by the Associated General Contractors of America.

RiverVest Venture Partners Opens Office in San Diego

St. Louis-based RiverVest Venture Partners, a life sciences investment firm, said Thursday it had opened an office in San Diego led by newly installed managing director Nancy Hong.

Accumen Inc. Acquires Michigan-Based Chi Solutions Inc.

San Diego-based Accumen Inc. has acquired Chi Solutions Inc., expanding its capabilities in the lab industry.

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Krikorian Entity Buys Solana Beach Buildings for $15.5 Million

A buying group that includes the founder and CEO of Torrance-based cinema chain Krikorian Premiere Theatres has acquired two medical office properties in Solana Beach for $15.5 million, according to CoStar Group and public data.

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Three Local Apartment Properties Get New Owners

Three San Diego County apartment properties recently changed hands in separate transactions, including a 12-unit La Mesa complex that sold for approximately $2.6 million.

Chargers’ Plan Too Taxing on Our City’s Future

Like many native San Diegans, I would like to see the Chargers remain in San Diego, but not at any price. It needs to make sense.

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San Dieguito River Valley Conservancy Event a Glowing Success

The San Dieguito River Valley Conservancy recently held its 30th Anniversary Wax & Wine event in partnership with the Knorr Candle Factory. The conservancy raised $5,500 and received a generous donation from the Knorr Candle Factory. Guitarist Bill Fleming serenaded guests as they toured the gardens of Knorr, and learned how to make their own beeswax candle.

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High-End Coastal Living Offers an Experience You Can’t Top

If you haven’t lived in San Diego County for any length of time, you might wonder why there is just one prominent high-rise along the shore from La Jolla to Point Loma. At 21 stories, it is quite visible from land on a clear day and can serve as a navigation point for ships at sea.

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Wealth Managers Need to Take Own Advice on Succession

FINANCE: Planning Is A Must for Their Own And Their Clients’ Sakes

For years, wealth managers Bob and Peg Eddy had a letter ready for their clients with important advice.

The End Game

Without a Well-Planned, Well-Executed Exit Strategy, Business Owners Can Find the Window Closed for Successful Selling or Succession

There are plenty of options for small business owners looking to exit the companies they’ve started, including private equity sales, management buyouts, passing them down to family and even employee stock ownership plans.

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Biotechs Vs. a Bear Market: Winners and Losers

FINANCE: The View From Q1 2016 Shows Success Still an Option

These are dark days for biotech investors. The public and media criticism over high drug prices — and the uncertainty over whether drugmakers will face some kind of crackdown — has cast a cloud over those who invest in the pharmaceutical industry.

Loftin Firm Has Some Success Stories Worth Applauding

The Loftin Firm P.C. has elected Ariel Bedell a shareholder. Bedell assists clients with a range of residential and commercial real estate matters, provides estate planning guidance to individuals and families, and advises business entities on formation and operational issues. L. Sue Loftin, managing shareholder of The Loftin Firm, was recently awarded the 2016 Businessperson of the Year Award by the Carlsbad Chamber of Commerce.

Entrances, Exits, and Expansions Keep Grocery Sector Active

San Diego County’s grocery venues continue to multiply at a dizzying pace. In some cases, it’s because companies fail and leave prime spaces ready for newcomers to swoop in and take their place; at other times, it’s the classic case of retailers simply chasing new residential rooftops.

Drawing a Line in the Cloud Against Corrupting Influences

Their Kickstarter campaign seeks $5.5 million to write software, but Brady Chatfield and Daniel Tweddell hope to use the crowdfunding website to gather something equally necessary: a large group of interested people who might contribute some time to their project.

Co. Gives Engineers a Technological Toolbox and Instruction

SOFTWARE: Firm Takes Key Educational Role in Evolving Industry

SolidProfessor aims to be the best teacher an engineer has ever had, especially if the engineer is trying to learn software.

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Median Home Price Hit $551,000 in March

The median price of previously owned San Diego homes rose steadily even as sales continued to slide in the year ending in March, the Greater San Diego Association of Realtors said Thursday.

Global Equipment Manufacturer Expands in Carlsbad

TECH: Machines Used To Make Circuit Boards, Cellphones, Electronics

Nordson Corp., an Ohio-based industrial equipment manufacturer, has boosted its San Diego footprint by more than a quarter, adding 45,000 square feet of new factory space as it manages growing demand from advanced technology makers.

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CleverMade Came on Scene Ready With Products, Production

RETAIL: Co.’s Crates, Baskets Attracted Major Retailers

KitchenAid, Rubbermaid and now CleverMade. A Carlsbad company is coming into the saturated storage industry with collapsible, space-saving options for crates and baskets that are mobile, a solution for anyone on the move, camping or packing for college.

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Bill Could Put Brakes On the Gig Economy

LAW: Independent Contractors May Get New Negotiating Power

It’s shaping up to be one of the major battles between business and labor in Sacramento this year: a bill to allow workers in the so-called “gig economy” to form unionlike organizations.

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iDessert Creates Niche And Deliciously Fills It

DINING: Solid Fundamentals Back the Innovative Concept

A small boy looks on in amazement as he receives his dessert: a colorful, dome-shaped meringue shell filled with gelato, cream and fresh berries, topped with rainbow sprinkles and a chocolate sauce stick, and wrapped in a cloud of dry-ice smoke.

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Developers Propose A Big College Try

PROPERTY: Old Stadium Would Be New SDSU Site

San Diego State University, along with an ad-hoc group of developers and university boosters, pushed last week for serious consideration of a redeveloped Qualcomm Stadium site that could become a western campus for SDSU, including a smaller stadium better suited for Aztec crowds.

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Few Signs of Life in the S.D. 2016 IPO Scene

FINANCE: Life Science IPO Crawl Comes to Halt as Market Faces Uncertainties

San Diego biotech companies — normally trailblazers for local IPO activity — have been noticeably absent from the initial public offering deck since last spring.

Clearing The Way

BIOTECH: Co. Sees the Competition Helping Its Coronary Scaffold Succeed

Claus Brogger loves to fly. After he retired as a professional airline pilot, the 68-year-old Dane still got his thrills with regular fighter jet joy rides. Flying is something he never intended to give up.

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West Partners Becomes Majority Investor in Javlin Capital

West Partners, the investment arm of the Gary & Mary West Family Office, said Tuesday it had become a majority investor in Omaha-based Javlin Capital.

Work Starts on $20.4M Affordable Apartment Complex in Encanto

Construction recently got underway on Ouchi Courtyard, a $20.4 million affordable-housing community with ground-floor retail in San Diego’s Encanto neighborhood.

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Wednesday, April 6

PUC Preliminarily Rejects Sempra's Bid to Build Gas Pipeline

The California Public Utilities Commission on Tuesday preliminarily rejected a bid from San Diego-based Sempra Energy to build a $621 million natural gas pipeline from San Bernardino to Riverside, with a judge finding cheaper and safer options available to improve the company’s gas flow.

New Downtown Marriott Hotels Open at Former Lane Field Site

Developers planned an April 7 formal opening for the first dual-branded Marriott hotels on the former site of the Lane Field ballpark in downtown San Diego, part of a larger mixed-use project now known as BRIC.

Alternative Lender National Funding to Sponsor San Diego Padres

Alternative lender National Funding is the latest sponsor of the San Diego Padres, the financial technology company said Wednesday.

Qualcomm Enters 3G/4G Patent Agreement with Chinese Firm

Qualcomm Inc. announced a new 3G and 4G Chinese patent license agreement with Zhuhai Ewpe Information Technology Inc. (EWPE).

Human Longevity Building its Leadership Team

Human Longevity Inc. (HLI), a tech-driven genomics company founded and led by geneticist J. Craig Venter, made some changes and additions to its leadership team.

Consulting Firm Relocation Strategies Opens Carlsbad Office

Cincinnati-based Relocation Strategies Inc., a franchise company that provides planning and consulting services related to corporate relocations, has opened its first San Diego County office, at 2945 Harding St., Suite 104, in Carlsbad.

Lyft Expanding Line-Based Matching Service to San Diego

Ride-hailing service and technology firm Lyft Inc. is expanding its Lyft Line offering to the San Diego market, matching passengers heading along similar routes into the same vehicle starting during the week of April 11.

Tuesday, April 5

GlySens Inc. Moves to New Corporate Headquarters

GlySens Inc., a local company that manufacturers glucose monitoring systems, celebrated the grand opening of its new corporate headquarters March 31.

Local Firm Buys Portland Apartments for $57.85 Million

San Diego-based MG Properties Group has purchased a 283-unit apartment property in Portland, Ore., for $57.85 million, the company announced.

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East Village Apartment Building Sells for $52.6 Million

An affiliate of San Mateo-based Essex Property Trust Inc. has acquired a 241-unit apartment building in downtown San Diego’s East Village for approximately $52.6 million, according to CoStar Group and public data.

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San Diego Mesa College to Dedicate $14.3 Million Exercise Science Center

San Diego Mesa College will dedicate its new exercise science center on April 13.

S.D. County Home Prices Rose 7.6 Percent in Last Year

Home values in San Diego and Carlsbad grew 7.6 percent in February from the year before, as homes nationwide continued to rise in value, according to a report Tuesday from CoreLogic.

BioMed Leases Full i3 Campus at UTC to Illumina

Property owner BioMed Realty announced that it has fully leased its 316,000-square-foot i3 campus, currently under construction at University Town Center, to biotech company Illumina Inc.

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Report: Local Beer Makers Generated $851 Million in 2015 Sales

San Diego County’s craft beer makers generated $851 million in sales while employing more than 4,500 during 2015, according to the latest annual industry impact update by National University System Institute for Policy Research.

Tourism Authority Opposes Chargers’ Plan for Hybrid Facility

The San Diego Tourism Authority’s board chairman has issued a statement opposing the San Diego Chargers’ proposal for a combined downtown stadium and convention facility, citing clients’ preference for space contiguous to the existing convention center.

Carlsbad-Based Stellar Solar Reports 2015 Revenue

Stellar Solar, a commercial and residential solar installer, reported significant growth in both revenue and employee count in 2015.

Monday, April 4

Former SeaWorld Show Producer Accused of Embezzling $750,000

A former SeaWorld San Diego manager has been arraigned on wire fraud charges, after allegedly embezzling more than $750,000 while working as a show producer at the marine park.

BioMed Realty Buys UTC Buildings for $55 Million

BioMed Realty has purchased a two-building laboratory and office property in University Towne Center for $55 million, the San Diego-based company announced.

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Human Longevity Inc. Raises $220 Million in Series B Financing

Human Longevity Inc. (HLI), a tech-driven genomics company founded and led by pioneering geneticist J. Craig Venter, has raised $220 million in stock offering.

Local Construction Starts Down 26 Percent in Jan.-Feb. Period

San Diego County’s construction starts declined 26 percent from the same period a year ago in the first two months of 2016, to $432.1 million, according to the latest monthly figures from Dodge Data & Analytics.

Addiction Recovery Company Opens Center in Hillcrest

Los Angeles-based Convalo Health International Corp., a company providing addiction recovery services, has opened an outpatient behavioral health and addiction recovery center (known as an IOP center) in San Diego.

Top Tech Execs to Be Honored in Annual Recognition Event

Tickets are now on sale for the annual Top Tech Exec Awards. Honorees will be celebrated at the Top Tech Exec Awards ceremony on Thursday, May 19, at the Del Mar Fairgrounds and all selected nominees will be spotlighted in San Diego Business Journal.

February Passenger Traffic Up 6.8 Percent at San Diego International

Passenger traffic at San Diego International Airport was up 6.8 percent from a year ago in February, topping 1.43 million, according to the latest available data from the San Diego County Regional Airport Authority.

NBC 7 San Diego Leaves Downtown for New and Expanded Facility

NBC 7 San Diego (KNSD) has shifted its operations to its new facility in Kearny Mesa after about 50 years downtown.

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Governor Signs Bill Hiking Minimum Wage to $15 by 2022

Gov. Jerry Brown on Monday signed legislation raising California’s minimum wage to $15 an hour by 2022, the highest state wage floor in the county.

Conatus Pharmaceuticals Appoints SVP of Regulatory Affairs

San Diego drugmaker Conatus Pharmaceuticals Inc., focused on liver disease drugs, announced the appointment of Edward F. Smith III as senior vice president of regulatory affairs and quality assurance.

BofI Federal Bank Acquires Bulk of Pacific Western Bank's Finance Division

BofI Federal Bank has acquired a substantial portion of Pacific Western Bank’s equipment finance division, the bank said Monday, including the division’s entire senior management team and $140 million worth of equipment leases.

Sunday, April 3

Rady School Results Are a Big Plus for San Diego

The Rady School of Management at UC San Diego announced recently that 115 startups have emerged from the school’s MBA program in the last decade.

Qualcomm Licenses Vehicle Charging Technology to UK Company

Qualcomm Inc. said on April 1 that it has signed an agreement to license its wireless electric vehicle charging technology to U.K.-based Ricardo PLC.

Adamis Pharmaceuticals Acquires Arkansas-Based Company

San Diego drugmaker Adamis Pharmaceuticals, which makes low-cost alternatives to expensive drugs, is acquiring Conway, Arkansas-based US Compounding Inc.

RAF Pacifica Acquires Local Six Property Industrial Portfolio

RAF Pacifica Group acquired a 277,040 square-foot portfolio of 16 buildings in San Diego County.

Gremlin Competition Could Benefit San Diego

Two companies with San Diego ties will compete to build small military aircraft that will travel in swarms and be reusable up to 20 times.

The Business Calendar for the Week of April 4, 2016

Some of the business events planned in the county for the week of April 4, 2016, and beyond.

Two Affordable Housing Developements Open

The San Diego Housing Commission, in partnership with Carlsbad-based developer Chelsea Investment Corp., recently opened two new affordable housing developments, Independence Point Apartments and Rancho Del Sol Apartments.

Hillcrest Apartment Complex Sells for $16.5 Million

CBRE Group Inc. announced the sale of the Park East Apartments in Hillcrest for $16.5 million April 1.

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Northrop Grumman Awarded $30.3 Million Air Force Deal

The U.S. Air Force awarded Northrop Grumman Corp. a $30.3 million modification to a previously awarded contract for Lot 11 production of its Global Hawk aircraft.

Barons to Open North Park Location

Point Loma-based Barons Market said it had finalized a deal to move into a former Fresh & Easy location in North Park, with the grocer set to open what will be its seventh location soon.

San Diego Companies Can Apply for $10,000 Grant to Pursue Global Markets

The World Trade Center San Diego launched its MetroConnect Prize, a chance for companies to apply for a $10,000 grant, provided through JPMorgan Chase & Co., to assist with San Diego companies’ international efforts.

Kono USA Bringing Franchise to San Diego

Kono USA announced a new franchise agreement in San Diego April 1, with plans for 10 locations in the area as early as August of this year, the company said.

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Friday, April 1

Qualcomm Inc. Licenses Vehicle Charging Technology to UK Company

Qualcomm Inc. said on April 1 that it has signed an agreement to license its wireless electric vehicle charging technology to U.K.-based Ricardo PLC.

Business Calendar for the Week of April 4, 2016

Some of the business events planned in the county for the week of April 4, 2016, and beyond.

Adamis Acquires Arkansas-Based Company

San Diego drugmaker Adamis Pharmaceuticals, which makes low-cost alternatives to expensive drugs, is acquiring Conway, Arkansas-based US Compounding Inc.

Rady School's MBA Program Responsible for 115 Startups

The Rady School of Management at UC San Diego announced recently that 115 startups have emerged from the school’s MBA program in the last decade.

Kono USA to Bring Franchise to San Diego

Kono USA announced a new franchise agreement in San Diego April 1, with plans for 10 locations in the area as early as August of this year.

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Hillcrest Apartments Sell for $16.5M

CBRE Group, Inc. announced the sale of the Park East Apartments in Hillcrest for $16.5 million April 1.

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Northrop Grumman Awarded $30.3M Air Force Deal

The U.S. Air Force awarded Northrop Grumman Corp. a $30.3 million modification to a previously awarded contract for Lot 11 production of its Global Hawk aircraft.

RAF Pacifica Group Acquires Local Six Property Industrial Portfolio

RAF Pacifica Group acquired a 277,040 square-foot portfolio of 16 buildings in San Diego County.