Stories for July 2016

Sunday, July 31

Kilroy Realty Breaking Ground on One Paseo in Fourth Quarter

Developer Kilroy Realty Corp. plans to break ground in the fourth quarter of this year on its One Paseo mixed-use development, after recently receiving San Diego city approvals on a downsized version of the controversial project, according to its CEO.

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New Homes Planned after $14.5M Purchase of Former Golf Course

An affiliate of Manhattan Beach-based 33North Development Group has acquired a 114-acre former golf course site in San Diego’s Rancho Penasquitos neighborhood for $14.5 million, with plans to develop a new residential community.

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The Business Calendar for the Week of August 1, 2016

Some of the business events scheduled in the county for the week of August 1, 2016, and beyond.

CPUC to Hold Public Meetings on Area Code Additions

The California Public Utilities Commission (CPUC) announced it will hold public meetings to provide information and obtain input on the introduction of new area codes to the regions now served by the 619, 916, and 805 area codes.

Sharp HealthCare Buys Miramar Building for $9.3 Million

San Diego-based Sharp HealthCare has purchased the medical office building that it had previously been leasing in Miramar for $9.3 million, according to CoStar Group and public data.

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Investment Index Ranks San Diego County No. 78 in Nation

A financial technology company has ranked San Diego County third in California and No. 78 nationwide on its latest list of the amount of investment received by counties.

Coronado Brewing Names Two Chief Operating Officers

Coronado Brewing Co. has appointed longtime employees Brandon Richards and Kasey Chapman to the shared role of chief operating officer.

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GA ASI Conducts First Predator A Flight at New Training Facility

General Atomics Aeronautical Systems Inc. said it has conducted the first successful flight of a company-owned Predator A remotely piloted aircraft at its Unmanned Aircraft System Flight Training Academy in Grand Forks, N.D.

Corporate Directors Forum Names 2016 Director of the Year Honorees

Corporate Directors Forum named six San Diego board members it says have contributed to better corporate governance, and announced plans to honor them at the organization’s annual awards event September in La Jolla.

Mitek Reports Q3 Results

Mitek, a San Diego-based identity verification software company focused on mobile technology, on July 28 posted a 19 percent year-over-year decline in third-quarter GAAP net income amid a 41 percent jump in revenue.

Friday, July 29

Mitek Reports Third Quarter Results

Mitek, a San Diego-based identity verification software company focused on mobile technology, on Thursday posted a 19 percent year-over-year decline in third-quarter GAAP net income amid a 41 percent jump in revenue.

Coronado Brewing Co. Names Two Chief Operating Officers

Coronado Brewing Co. has appointed longtime employees Brandon Richards and Kasey Chapman to the shared role of chief operating officer.

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Kilroy Breaking Ground on One Paseo in Fourth Quarter

Developer Kilroy Realty Corp. plans to break ground in the fourth quarter of this year on its One Paseo mixed-use development, after recently receiving San Diego city approvals on a downsized version of the controversial project, according to its CEO.

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New Homes Are Planned After $14.5M Purchase of Former Golf Course

An affiliate of Manhattan Beach-based 33North Development Group has acquired a 114-acre former golf course site in San Diego’s Rancho Penasquitos neighborhood for $14.5 million, with plans to develop a new residential community.

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Sharp HealthCare Buys Miramar Building for $9.3M

San Diego-based Sharp HealthCare has purchased the medical office building that it had previously been leasing in Miramar for $9.3 million, according to CoStar Group and public data.

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Business Calendar for Week of August 1, 2016

Some of the business events scheduled in the county for the week of August 1, 2016, and beyond.

Thursday, July 28

Chamber Supports Chargers’ Plan for Downtown Stadium

The San Diego Regional Chamber of Commerce’s board of directors has voted to support the San Diego Chargers’ November ballot initiative to build a multi-purpose stadium and convention facility in downtown’s East Village.

Housing Crisis Threatens Economic Foundation

If you want to know just how important it has become to build additional housing for the city and county of San Diego, all you have to do is ask employers across the region.

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Boys and Girls Clubs Go for the Gold and Also Their Goals

The Boys and Girls Clubs of Greater San Diego announced that the annual Summer Games that were hosted at Miramar College recently featured 761 members competing in an Olympic-style competition.

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Luxury Surroundings

Home of The Month -

This serene and secluded home in Rancho Santa Fe is as intriguing from the air as it is from the ground. Designed by renowned local architect Ken Ronchetti, the modern — yet comfortable, livable home — hugs an expansive indoor/outdoor living oasis. The curvilinear masterpiece is on park-like, manicured acreage studded with statuary and artistically placed plantings. Reminiscent of a tropical lagoon, the distinctive pool is in view from nearly every room, for a seamless blend of the interior world to nature.

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Businesses Prepare for New Lease Accounting Standards

FINANCE: Reporting to Be Centralized, Numbers Must Conform Companywide

Industry observers are not yet expecting a significant impact on the decisions that corporate executives make regarding the size of their leased business space, or the length of those leases. But compliance with new nationwide lease accounting standards could pose data-management challenges for many businesses.

DJO Global Posts $293 Million in Net Sales for Second Quarter

San Diego medical device maker DJO Global reported a bump to its net sales in the second quarter.

Local Assets

From Pricing to Personal Attention, Small Firms Find Ways to Compete With National Companies

In the San Diego region, locally based accounting firms face challenges from international and national companies that are seeking to increase their presence here.

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Attorney Brings Life Science Expertise to New Role at Procopio

Robert “Bob” Ramos has joined Procopio as a partner in the firm’s recently expanded Life Sciences practice group. Ramos has more than 20 years of life sciences intellectual property experience in both private practice and the biotechnology industry related to worldwide patent and trademark acquisition and strategic counseling. He has assisted venture-backed startups, midsized companies, basic research institutes, as well as large biopharmaceutical companies.

Taster's Choice

Co. Lets Customers Customize Their Juices

Craft juice startup OH! Juice has opened a new kind of tasting room, and you’ll be hard-pressed to find barrels of wine or beer on tap. Instead, how would you like to sample a blend of leafy greens? Or perhaps beets and berries are more to your liking?

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Royale Energy to Merge With Matrix Oil Corp.

ENERGY: Deal Said To Position Royale for Future Acquisitions

Petroleum producer and marketer Royale Energy Inc. said it has signed a letter of intent to join with Santa Barbara-based Matrix Oil Corp. in a $41.5 million deal involving stock and assumption of debt.

Outerwall Agrees to Purchase; Co. to Go Private

ACQUISITION: EcoATM Is Part of $1.6 Billion Deal

Outerwall Inc., which acquired San Diego startup ecoATM in 2013, announced it has agreed to be bought out by alternative investment fund Apollo Global Management LLC for $1.6 billion.

CourseKey’s Learning Platform Gets Devices on Same Page

SOFTWARE: It Expands Learning Opportunities, Assists in Admin Tasks

It’s been a busy two years for Luke Sophinos. The 21-year-old CEO has gotten a software business off to a very fast start. He has postponed his final coursework at San Diego State University. And he’s attracted attention from the foundation run by internet entrepreneur Peter Thiel. The upshot? A two-year, $100,000 Thiel Fellowship to help him build his young business, CourseKey Inc.

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Sequenom Sold in Deal Worth $371 Million

BIOTECH: LabCorp Buys Struggling Diagnostic Co.

San Diego’s Sequenom Inc., which has seen a string of losses in recent years, is being acquired by LabCorp, a giant in the diagnostics and lab testing industry, in a deal worth $371 million.

Hotel Boom Propels Variety of Projects

TRAVEL: Confidence High In Metrics, Tourism Economy

Developers of Pendry San Diego, a new $100 million luxury hotel set to open this November in the Gaslamp Quarter, say they’re not worried that other posh competitors have also set their sights on downtown San Diego.

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‘Last Mile’ Is Tough for E-Commerce in S.D.

LOGISTICS: Lack of Centralized Sites Is Challenge

The continued rise of e-commerce is boosting nationwide demand for industrial space to house distribution and other fulfillment facilities, including the “last mile” operations increasingly needed to meet same-day delivery expectations in places such as San Diego County.

Rise and Shine

BIOTECH: ResMed’s Efforts In Informatics Pay Off As Company’s Value Climbs

ResMed Inc. is shoring up its position in the “internet of medical things,” funneling massive resources into its digital health portfolio and watching its stock climb as a result.

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ResMed Reports Q4 Revenue of $324.5 Million

San Diego device maker ResMed Inc. reported a sizeable jump in revenue both for the company’s fourth quarter and its full 2016 fiscal year.

Couple Open Kombucha Tasting Room in Old Town

A new local brewery in Old Town is jumping on the kombucha bandwagon, opening a tasting room in San Diego where the fizzy beverage is brewed.

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U.S. Government Wants to ID Cash Buyers of High-End Homes

The U.S. Treasury Department wants to know who secretly may be buying luxury homes in San Diego.

County Construction Starts Declined 8 Percent in First Half of 2016

San Diego County’s construction starts declined 8 percent from a year ago in the first six months of 2016, with permits pulled for approximately $1.68 billion worth of residential and non-residential projects, according to the latest monthly figures from Dodge Data & Analytics.

Local REITs Report Strong Second-Quarter Results

Three San Diego-based real estate investment trusts – Realty Income Corp., American Assets Trust Inc. and Retail Opportunity Investments Corp. -- recently reported generally strong revenue and other financial results for their second quarter ending June 30.

Michael Johnson Promoted to Co-CEO at Gurtin Fixed Income Management

Gurtin Fixed Income Management LLC on Thursday announced Michael Johnson’s promotion to co-CEO.

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Wednesday, July 27

Verdezyne Appoints New CFO

Verdezyne Inc., a synthetic biology company producing biobased chemicals, announced the appointment of David Kelsey as chief financial officer.

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NuVasive's Healthy Q2 Earnings Beat Wall Street Expectations

Medical device maker NuVasive Inc. reported a significant boost to the company’s sales and revenue for the second quarter, topping Wall Street’s expectations.

University Heights Retail Center Sold for $5.29 Million

A San Diego buyer recorded as Hillside Shopping Center LLC has purchased the Hillside Village Plaza retail center in University Heights for $5.29 million, according to brokerage firm Colliers International Group Inc.

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United Kingdom Opening Office in San Diego

The United Kingdom plans to open an office in San Diego as part of an expansion intended to boost its investment opportunities and trade with the United States.

Construction Starting on $127.8 Million Airport Parking Plaza

A portion of the parking lot a Terminal 2 will close Aug. 6, as construction begins on a new $127.8 million parking plaza at San Diego International Airport.

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Sequenom Acquired by LabCorp for $371 Million

San Diego’s Sequenom Inc. is being acquired by LabCorp, a giant in the diagnostics and lab testing industry, in a deal worth $371 million.

Tuesday, July 26

Illumina Reports Q2 Revenue of $600.1 million

San Diego’s medtech giant Illumina Inc. reported Tuesday that its second quarter revenue rose 11 percent.

Qualcomm Agrees to Pay $19.5 Million to Settle Discrimination Complaint

Qualcomm Inc. has agreed to pay $19.5 million and make internal changes to settle accusations it discriminated against women employed by the San Diego-based tech giant.

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Organovo Holdings Inc. Moving to Nasdaq Exchange

Organovo Holdings Inc., the San Diego firm that “bioprints” three-dimensional human tissue, is moving its stock to the biotech-heavy Nasdaq exchange from the NYSE MKT.

Philz Coffee, Lazy Acres Market Coming to Encinitas

Encinitas will be home to the first San Diego County location of San Francisco-based Philz Coffee, along with the first local store of the expanding Lazy Acres Market grocery chain, according to brokerage firm Retail Insite.

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Sam Attisha Named SVP/Regional California Manager at Cox

Cox Communications announced Tuesday it has made permanent its interim appointment of Sam Attisha to the position of senior vice president and California region manager.

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Instacart Extends Grocery Delivery Service to San Diego

San Francisco-headquartered Instacart has extended its retail grocery delivery service to the San Diego market, initially delivering to nine local zip codes across 11 neighborhoods.

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GO-Biz Accepting Applications for $243 Million in Tax Credits

About $243 million in tax credits will be available during the 2016-17 fiscal year for businesses that want to expand in or relocate to California.

Escondido-Based Custom Blow Molding Acquired by Missouri Plastics Manufacturer

A Missouri-based manufacturer has acquired Escondido’s Custom Blow Molding, a producer of packaging and containers for the sports nutrition and nutraceuticals market. Terms of the deal announced Monday were not disclosed.

Monday, July 25

Registration Opens for Forum Focusing on Workplace Diversity

The San Diego Business Journal is highlighting its SDBJ Forum 2016 series with a special event focusing on the business side of diversity and inclusion on Thursday, Oct. 6. Registration for this timely topic is available now.

Grocer Lazy Acres to Open in Former Haggen Space in Mission Hills

Lazy Acres Market, a natural and organic food store operated by the parent of Bristol Farms, has leased an 18,700-square-foot Mission Hills space formerly occupied by grocer Haggen Inc., according to brokerage firm Retail Insite.

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Cubic Corp. Awarded 5-Year, $73 Million Navy Contract

Cubic Global Defense, a business unit of Cubic Corp., announced that it has been awarded a five-year, $73 million firm-fixed-price task order to support aviation training for the U.S. Marine Corps. The follow-on contract is the third consecutive award Cubic has received since 2005.

Marriott Hotel at UTC Gets New Owner

New York-based Carey Watermark Investors 2 Inc. (CWI 2) has purchased the 372-room San Diego Marriott La Jolla hotel in University Towne Center for an undisclosed price, the company announced.

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Outerwall Inc. to be Acquired by Apollo Global Management for $1.6 Billion

Outerwall Inc., which acquired San Diego startup ecoATM in 2013, announced Monday it has agreed to be bought by alternative investment fund Apollo Global Management LLC for $1.6 billion.

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Prominent San Diego Philanthropist Conrad Prebys Dies

Prominent San Diego philanthropist Conrad Prebys has died of cancer at age 82, his family announced Monday morning (July 25).

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Apricus Biosciences Terminates One Agreement, Signs Another

San Diego biopharma Apricus Biosciences is expanding its exclusive distribution deal with Swiss firm Ferring Pharmaceuticals Inc. and terminating its deal with German drugmaker Sandoz.

Irvine Investment Firm Buys Sorrento Mesa Industrial Buildings for $49M

An affiliate of Irvine-based healthcare property investment company HCP Inc. has purchased a portfolio of two Sorrento Mesa industrial properties and an adjacent land parcel for $49 million, according to CoStar Group and public data.

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Sunday, July 24

The Business Calendar for the Week of July 25, 2016

Some of the business events scheduled in the county for the week of July 25, 2016, and beyond.

Friday, July 22

San Diego-Based Blue Seas Fabrication Opens Operation

Blue Seas Fabrication has opened for business.

Business Calendar for Week of July 25, 2016

Some of the business events scheduled in the county for the week of July 25, 2016, and beyond.

Allergan Terminates Agreement With Adamis Pharmaceuticals

Pharmaceutical giant Allergan Plc is backing out of its deal with San Diego-based Adamis Pharmceuticals Corp. to commercialize the firm’s epinephrine pre-filled syringe for the treatment of life-threatening allergic reactions (anaphylaxis).

Crunch Fitness Opening Four New Gyms in San Diego Market

A local franchisee of New York-based Crunch Fitness, which operates gym facilities, has at least four new locations set to open in San Diego County, according to brokerage firm The Heritage Group, which handled recent local leasings.

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AristaMD Raises $11 Million in Series A Financing

Local digital health company AristaMD raised $11 million in a Series A financing, the company announced Friday.

California Tops Nation in Number of Construction Jobs Added

California added 32,300 construction jobs between June 2015 and June 2016, the most of any state, according to an analysis of Labor Department data released by the Associated General Contractors of America.

Sempra U.S. Gas & Power Acquires Wind Energy Project in Michigan

Sempra U.S. Gas & Power said on July 22 that it acquired the Apple Blossom wind energy project in Michigan for undisclosed terms. The seller was Geronimo Energy LLC.for undisclosed terms. The seller was Geronimo Energy LLC.

County’s Unemployment Rate Inched Up to 5.1 Percent in June

The unemployment rate in San Diego County was 5.1 percent in June 2016, up from a revised 4.2 percent in May 2016, and below the year-ago estimate of 5.2 percent, according to a news release from the state Employment Development Department.

ProSol Associates Receives 5-Year Contract to Teach at Marine Corps Installations

ProSol Associates LLC, a small business based in Alexandria, Va., received a five-year contract to teach communications electronics at Marine Corps Base Camp Pendleton and other Marine Corps installations. Local work is valued in the millions of dollars.

App-Enabled Jet Booking Service Expands to San Diego

Florida-based JetSmarter recently announced an expansion into the San Diego market for its app-enabled service that lets travelers book single seats on private jets.

Thursday, July 21

Alaska Airlines Offering New Direct Local Flights to Newark

Alaska Airlines will offer new daily nonstop service between San Diego and Newark, New Jersey, beginning Nov. 21, the carrier and San Diego International Airport officials announced.

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Survey: Development Sentiment Strong Despite Growth Concerns

California commercial developers generally remain optimistic about prospects for new projects through 2019, though there are concerns about a potential slowdown in economic growth, according to the latest statewide survey from UCLA Anderson Forecast and the law firm Allen Matkins.

Kensington Apartments Sold for $2.77 Million

A La Jolla buyer recorded as Beachfront I LP has acquired a 12-unit apartment property in San Diego’s Kensington neighborhood for approximately $2.77 million, according to brokerage firm Apartment Realty Group Inc. (ARG)

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El Cajon Retail Buildings Sell for $4.55 million

A Lemon Grove buyer recorded as El Cajon Investments Group LLC has acquired a two-building retail property in El Cajon for $4.55 million, according to CoStar Group and public data.

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UCSD to Open Tokyo Office to Further Japanese Partnerships

The University of California, San Diego is opening an office in downtown Tokyo, where researchers will seek partnerships with Japan’s booming life science industry.

Cubic Corp. Exec to Talk Up Co. at Comic-Con

A Cubic Corp. executive will be at Comic-Con — no joke — to discuss company projects funded by the Defense Department.

We Cannot Afford TPP and Loss of More Jobs

The boost to the San Diego economy from NAFTA came on the backs of American workers in the rest of the country. NAFTA went into effect in January 1994, and the agreement was supposed to reduce market barriers to trade among the United States, Canada and Mexico to reduce the cost of goods, increase our surplus trade balance with Mexico, reduce our trade deficit with Canada, and create 170,000 jobs a year. Twenty years later, the fallacy of these supposed benefits is well documented.

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Gala Continues Its Winning Ways in Helping Challenged Athletes

The San Diego-based Challenged Athletes Foundation celebrated its 10th anniversary of A Celebration of Heroes, Heart and Hope Gala. More than 900 people attended the event at the Waldorf Astoria New York. During the last nine years, the New York gala has raised more than $11.2 million to help fulfill the organization’s mission. Funds raised at events have allowed CAF to raise more than $73 million in its 23-year history and satisfy more than 13,000 grant requests from physically challenged athletes in all 50 states and more than 32 countries.

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Forget the Road, You’ll Want to Stay Put at The Crosby

Named after the great crooner and Academy Award winner Bing Crosby, “The Crosby” is a private, golf-course community about five miles east of downtown Rancho Santa Fe. The streets, such as Irish Eyes Lane, White Christmas Court and Danny Boy Road, are a daily reminder to residents of Crosby’s legacy in the area. Crosby was a founding partner of the Del Mar Thoroughbred Club and former owner of the historic Osuna Ranch in Rancho Santa Fe among other real estate holdings.

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New UCSD Leader to Help Build ‘Global Robotics Powerhouse’

An authority on the subject of robots, Henrik Christensen, is on his way to Torrey Pines Mesa.

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Market Keeps Eyes on Economics, Not Politics

GOP presidential nominee Donald Trump might score some points in commercial real estate circles for his track record as an office and condo developer, symbolized by Trump Tower and other prominent projects bearing his name, especially in his home hub of New York City.

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There’s a new show in town: The Startup Show

Leaders at San Diego Startup Week have launched a web series on YouTube called “Startup Show San Diego.”

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VC Focus on Local Startups, Early-Stage Cos. A Good Sign

CAPITAL: Strong Q2 Is 7th Highest in Nation

Venture capital investment in San Diego rose last quarter to $350.5 million, bolstered by the region’s largest-ever deal.

The Future of Fitness - Lymber Lets People Exercise Options

TECH: App Opens Fitness Marketplace With Dynamic Pricing

San Diego tech company Lymber is dialing in on those noncommittal gym-goers by making an app that gets users active without tying them to monthly memberships.

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Qualcomm’s Strong Q3 Earnings Report Pleases Analysts

TECH: Chip Sales, License Revenue Boost Co. Outlook

Qualcomm Inc. reported better than expected third quarter earnings, spurred in part by Chinese and South Korean customers coming forward to pay the San Diego business for technology used during previous quarters.

Developers Feel Pressure to Deliver at Seaport Village Site

PORT: Many Stakeholders To Weigh In On $1.2B Plan

Even after more than three decades spent managing and developing major projects in San Diego and elsewhere, Yehudi Gaffen says he’s rarely taken on something with the size and multi-component scope of what his development team is now proposing for the downtown waterfront.

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Despite Frothy Competition, Brewer Stays Its Course

HOSPITALITY: Karl Strauss To Open Brew Pubs in OC, LA

“Karlifornia” has lately been appearing with increasing frequency on the caps, T-shirts and other paraphernalia sold at the craft beer brewery restaurants operated by San Diego’s Karl Strauss Brewing Co.

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New Accelerator to Target Cannabis Technology Companies

A new business accelerator targeting cannabis technology companies is opening in San Diego.

Wednesday, July 20

Nomination Deadline Extended for 2016 Manufacturing Awards

The San Diego Business Journal is now accepting nominations for the 2016 Manufacturing Awards, which honors companies and individuals within the San Diego community in the manufacturing industry.

Good Source Solutions Acquires Louisiana-Based Pon Food Corp.

Carlsbad food distributor Good Source Solutions has acquired Pon Food Corp., a Louisiana-based frozen food distributor, for an undisclosed price.

GA-ASI Awarded $31.8 Million Air Force Contract

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a $31.8 million delivery order for ground-control stations.

Bay Club Buys Fairbanks Ranch Country Club

The Bay Club Company of San Francisco has acquired Fairbanks Ranch Country Club in Rancho Santa Fe, but the parties were not immediately disclosing the purchase price.

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Vista Apartment Complex Sold For $24.2 million

The Mogharebi Group (TMG) has completed the sale of Mesa Garden, a 124‐unit apartment complex, for $24.2 million. The buyer was a private investment group based in San Diego.

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Rachna Kumar Named Dean of Alliant School of Management

Rachna Kumar has been appointed dean of Alliant School of Management at Alliant International University.

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County Supervisors Vote for Study on Lilac Hills Ballot Measure

The San Diego County Board of Supervisors has voted to have staff study a proposed November ballot measure on the controversial Lilac Hills Ranch development, which recently qualified for the ballot following an initiative petition drive by supporters.

Synthetic Biology Firm Synthorx Raises $10 Million

Synthorx Inc., a synthetic biology company in San Diego, raised $10 million in a Series B financing, the company announced Wednesday.

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Tuesday, July 19

Coronado Retail Properties Sell for $5.2 Million

A local buyer recorded as 820 Orange Av LLC has acquired a two-building retail property portfolio in Coronado for $5.2 million, according to CoStar Group and public data.

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TPT Global Technology Acquires Assets of Goodwin Global

TPT Global Technology Inc., a downtown San Diego-based telecommunications company, said July 19 that it acquired the assets of Goodwin Global, an international wholesale telecom carrier. Financial terms of the deal were not disclosed.

Median Home Price in San Diego: $594,430

San Diego’s median price for an existing single-family home in June was up 4.4 percent from a year ago, according to the California Association of Realtors. However, month-over-month price growth was minimal, landing at $594,430, 0.4 percent higher than in May.

Bank Building in Carlsbad Sold for $8.82 Million

An affiliate of Irvine-based Sperry Commercial has acquired a Carlsbad office building housing Bank of America for approximately $8.82 million, according to CoStar Group and public data.

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SpectraScience Inc. Signs Deal With Middle East Distributor

San Diego’s SpectraScience Inc., a medical device company using light technologies to detect and diagnose cancers, has signed a distribution agreement with Advanced Medical German Co. (AMG) in Kuwait to be its exclusive distributor in the Middle East.

San Diego Humane Society Appoints Brehler Chief Operating Officer

San Diego Humane Society announced the promotion of Jennifer Brehler to the role of chief operating officer for the organization.

Port of San Diego Tenants Get $5.9 Million State Grant

Tenants at the Port of San Diego received a $5.9 million state grant to help them roll out all-electric freight vehicles — such as big-rig tractors and forklifts — meant to take the place of diesel-powered vehicles.

Ionis Pharmaceuticals Inc. Earns $10 Million From Janssen Biotech

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has earned $10 million from Janssen Biotech Inc. by licensing out its gastrointestinal (GI) drug candidate, IONIS-JBI1-2.5Rx.

Monday, July 18

Seacoast Commerce Banc Holdings Posts Q2 Net Income of $1.78 Million

Net income for Seacoast Commerce Bank corporate parent Seacoast Commerce Banc Holdings was nearly $1.78 million in the second quarter of 2016, a 30.4 percent increase compared to the second quarter of 2015.

5D Robotics Inc. Acquires Alabama-Based Time Domain

Carlsbad-based 5D Robotics Inc. announced on July 18 that it acquired Time Domain, a business based in Huntsville, Ala. Financial terms of the deal were not disclosed.

Developer Secures Financing for North Park Apartment Project

San Diego-based Wright Real Estate Management and Development has secured financing for a planned $11 million apartment project in North Park.

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Nomination Deadline Extended for the 2016 Manufacturing Awards

The San Diego Business Journal is now accepting nominations for the 2016 Manufacturing Awards, which honors companies and individuals within the San Diego community in the manufacturing industry.

Region's Businesses Losing Confidence, Survey Finds

Confidence among San Diego County businesses fell in June, according to the San Diego Regional Chamber of Commerce's monthly business outlook forecast, dropping to the lowest level since the index launched nearly three years ago.

Wireless Antenna Maker Airgain Inc. Plans to Go Public

Wireless antenna maker Airgain Inc. plans to go public.

Ramona-Based Spirits Importer Reacquires Family Name

Ramona-based HPS Epicurean, a third-generation company that imports and markets internationally made spirits, wines and culinary niche brands, recently reacquired rights to the original family name of Preiss Imports.

South County EDC Launches Tourism Website

The South County Economic Development Council recently launched a new tourism website, touting South Bay events and recreational attractions.

Sunday, July 17

Lilac Hills Development Project Qualifies for the November Ballot

The San Diego County Registrar of Voters has certified that project supporters gathered sufficient signatures to place the controversial Lilac Hills Ranch development before county voters on the Nov. 8 ballot.

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Illumina Seeking Candidates for Its Accelerator Program

Gene sequencing giant Illumina Inc. is calling for startups to apply to its business accelerator program for early-stage businesses in the genomics space.

Poway Industrial Building Sold for $10.5 Million

A local franchisee of California Closets has purchased a Poway industrial building for approximately $10.5 million, according to CoStar Group and public data.

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The Business Calendar for the Week of July 18, 2016

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

JLL Taps Bonebrake to Head U.S. Industrial Property Management

Commercial real estate services provider JLL has hired Debra Bonebrake as a managing director in San Diego, heading the company’s U.S. industrial property management division.

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National University Names Singh Permanent Provost

Gangaram Singh, an educator and administrator with a background in leading strategic growth initiatives, has been named provost at National University, the school announced.

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Irwin M. Jacobs, Paul Jacobs Sign Letter Opposing Trump Candidacy

San Diego business leaders Irwin M. Jacobs and Paul Jacobs joined more than 140 technology executives and financiers — including a large number in Silicon Valley — in signing a letter opposing Donald Trump’s bid for president.

AltheaDx to Raise $6M in Debt Financing

San Diego molecular information firm AltheaDx Inc. has raised $2.2 million in debt financing, according to a form recently filed with the Securities and Exchange Commission.

Friday, July 15

Lilac Hills Development Project Qualifies for November Ballot

The San Diego County Registrar of Voters has certified that project supporters gathered sufficient signatures to place the controversial Lilac Hills Ranch development before county voters on the Nov. 8 ballot.

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Illumina Is Seeking Candidates for Its Accelerator Program

Gene sequencing giant Illumina Inc. is calling for startups to apply to its business accelerator program for early-stage businesses in the genomics space.

Poway Industrial Building Sells for $10.5 Million

A local franchisee of California Closets has purchased a Poway industrial building for approximately $10.5 million, according to CoStar Group and public data.

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JLL Taps Debra Bonebrake to Head U.S. Industrial Property Management

Commercial real estate services provider JLL has hired Debra Bonebrake as a managing director in San Diego, heading the company’s U.S. industrial property management division.

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National University Names Gangaram Singh Permanent Provost

Gangaram Singh, an educator and administrator with a background in leading strategic growth initiatives, has been named provost at National University, the school announced.

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Business Calendar for Week of July 18, 2016

Some of the business events scheduled in the county for the week of July, 18, 2016

AltheaDx Inc. Aims to Raise $6M in Debt Financing

San Diego molecular information firm AltheaDx Inc. has raised $2.2 million in debt financing, according to a form recently filed with the Securities and Exchange Commission.

Thursday, July 14

HCAP Partners Invests Undisclosed Amount in Texas Software Firm

San Diego-based private equity firm HCAP Partners has invested in Lucernex Inc., a Texas firm that sells cloud-based workplace management systems and lifecycle management systems to support its global expansion.

Escondido Contractor Awarded $26.4M CHP Project in Kearny Mesa

Escondido-based general contractor Erickson-Hall Construction Co. has been awarded a $26.4 million design-build contract to construct a San Diego replacement facility for the California Highway Patrol.

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Summit on Precision Medicine to Feature Region's Genomics Leaders

Leaders in San Diego’s genomics industry will address challenges and ideas in the precision medicine space at a local conference in August.

Mexico OKs Arena Pharmaceuticals Weight-Loss Drug for Commercialization

Arena Pharmaceuticals’ weight-loss drug, Belviq, has been approved for commercialization in Mexico, gaining Arena a milestone payment of $1 million.

Navy Awards QED Systems Inc. One-Year, $22.1 Million Contract

The U.S. Navy awarded QED Systems Inc. a one-year, $22.1 million contract modification to plan shipyard visits and maintenance periods for Navy surface ships, specifically Ticonderoga-class cruisers and Arleigh Burke-class destroyers.

Build Relationships Along the Border, Not Walls

There has been a lot of talk in recent years — especially during this crazy election season — about the U.S.-Mexico border as something that divides us.

There has been a lot of talk in recent years — especially during this crazy election season — about the U.S.-Mexico border as something that divides us.

Teen Sets Great Example as She Puts All Her Heart Into Helping

Make-A-Wish San Diego and San Diego Habitat for Humanity came together to make an inspiring young teen’s wish come true. Julia, a senior at Mission Hills High School in San Marcos, was an MVP on the varsity volleyball team and had visited the Dominican Republic last summer to build homes for families in need and was immediately hooked on giving back. She had plans to make a similar trip again this year, but in November, she was diagnosed with cancer that prevents travel.

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Qualcomm Announces Quarterly Cash Dividend

Qualcomm Inc. said on July 12 that it will distribute a cash dividend of 53 cents per share. Dividends will go out Sept. 21 to stockholders of record as of Aug. 31.

Jamul’s Hollywood Casino Says Summer Opening in the Cards

GAMING: The Facility Defeated Challenge to Its Environmental Review

It looks as though East County will soon be home to the county’s ninth Indian gaming casino.

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Bottom-Line Drive

SPORT: Sportsplex Gives Santee a Tourist Attraction That Can Compete for a Slice of Tourism Revenue

Santee isn’t a destination city or a locale that’s on most tourists’ radars; however, one local sports facility is bringing teams of out-of-towners to the area.

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Going Places

VEHICLES: Fox Finds Opportunity at Every Turn As It Builds Better Systems for Vehicles of All Types

Your mountain bike, the Ford Raptor truck, a side-by-side off-road vehicle, and the Predator B unmanned aerial vehicle all have one thing in common: the Fox company.

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Restaurant’s New Membership Program Serves Its Purposes

DINING: ‘Ethically Sourced’ Cuisine Comes With Sense of Community

The restaurant business’s thin profit margins can make embarking on new ventures a financial leap of faith, whether it’s launching a catering arm or overhauling a menu.

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Closing Book on One Firm Opens New Chapter for Attorneys

After a 40-year history, the law firm of Kirby Noonan Lance & Hoge will separate into multiple firms: Kirby & Kirby LLP, Noonan Lance Boyer & Banach LLP, Hoge Law Firm, The Law Office of Steven W. Sanchez and The Law Office of Christopher T. Wright.

STREET SMARTS

With Gig Economy Workers and Data on Board, Wrapify’s Advertising Platform Is Moving Along

It’s been nearly a year since San Diego tech startup Wrapify began connecting drivers interested in getting paid for turning their vehicles into moving billboards with advertisers who wanted to track impressions from outdoor marketing in real time.

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University’s Expertise Being Tapped for Cybersecurity Project

Might there be a better way to fend off cyberattacks, particularly among overworked defenders during an emergency? SSC Pacific, part of the U.S. Navy’s SPAWAR organization, wants to know — and the Navy office has tapped National University to help it research better ways to address the problem.

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Virtual and Augmented Reality Look to Fit in the Big Picture

TECH: Jerome’s Uses Tech to Sell Furniture; Qualcomm Funds Cos.

Virtual reality and augmented reality are slowly coming to a marketplace near you.

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Port District Favors Protea Plan for Central Embarcadero

San Diego port district commissioners have voted 6-1 to hold exclusive talks with Protea Waterfront Development, one of six development teams that recently put forward multi-use proposals to redevelop the 70-acre Central Embarcadero waterfront site that currently includes Seaport Village.

Company’s Eye Drops Could Be Replacement for Reading Glasses

PHARMA: Company May Seek Partnership During Final Trials

A small and low-key drugmaker in Coronado is making an eye drop product that may replace reading glasses.

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VerifiR’s Technology Looks to Knock Out the Knockoffs

TECH: Aim Is to Verify Goods’ Authenticity, Connect With Customers

A visit from entrepreneur Jurgen Schmerler looks a little like Christmas morning, without the tree or the decorations.

Malin’s Mission Is To Capture Jupiter

SPACE: Co.’s JunoCam to Deliver Images Through 2017

San Diego businesses are playing a highly visual part in NASA’s $1.13 billion space mission to Jupiter.

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S.D’s Ship Is In With Comic-Con Enterprise

TRAVEL: ‘Star Trek’ Debut Is Part of 2016’s Big Draws

Hollywood may be experiencing a slump at the box office, but the major movie studios still know the value of the concentrated, avid and very large audience that flocks annually to Comic-Con International in San Diego.

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Finding a Game Plan for The Q After Football

LAND: Ideas Floated for Possible Public-Private Projects

With the San Diego Chargers focused on a proposed downtown stadium — or a potential exit to Inglewood if that doesn’t pan out — local developers and urban planners are quietly discussing post-NFL prospects for the big Mission Valley site now housing the aging Qualcomm Stadium.

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A Commanding Presence

BIOTECH: NuVasive’s Lucier Sets Cadence for Co.’s March Toward Its Goals

Greg Lucier ranks high on my list of San Diego bigwigs, but the biotech executive has largely eluded me for the past two years.

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Rouse Moving Forward with Carlsbad Mall Renovation

Rouse Properties Inc. will continue operating a portfolio of U.S. retail centers that officially changed ownership when Rouse was acquired by Brookfield Asset Management Inc. in a $2.8 billion deal. Rouse officials said a previously announced renovation of The Shoppes at Carlsbad mall remains on track.

Wednesday, July 13

City Launches Website to Track Government Performance

The city of San Diego has launched a website to allow easier tracking of government performance in areas from infrastructure to public safety.

Abreos Biosciences Raises $725,000 in Funding

San Diego’s Abreos Biosciences has raised $725,000 in a seed round of funding.

U.S. Army Officially Announces $11.5 Million Contract for Cubic Corp

It’s official: an $11.5 million U.S. Army contract modification for Cubic Corp., which the Defense Department announced prematurely last week, has been awarded.

Rouse Sells Carlsbad Mall in $2.8 Billion Portfolio Deal

The Carlsbad shopping mall once known as Westfield Plaza Camino Real has changed owners for the second time in less than a year, after being acquired by Toronto-based Brookfield Asset Management Inc. as part of a nationwide portfolio deal valued at $2.8 billion.

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Three San Diego Dealerships Acquired by New Jersey-based Holman Automotive

New Jersey-based Holman Automotive announced it has completed its acquisition of Kuni Automotive, a Vancouver company with 14 luxury dealerships in five U.S. states.

M&M Plastics Inc. Acquired by New York Firm

A New York-based plastics supplier has acquired M&M Plastics Inc., a plastics fabrication shop in Miramar that services businesses nationwide.

Oncternal Therapeutics Pediatric Cancer Drug Gets Orphan Drug Designation

San Diego’s Oncternal Therapeutics Inc. has been granted an Orphan Drug Designation by the U.S. Food and Drug Administration for its pediatric cancer drug candidate.

Royal Air Force to Buy Next-Gen Predator B in Deal Potentially Worth $548 Million

Great Britain’s Royal Air Force plans to buy the next-generation Predator B unmanned aircraft from General Atomics Aeronautical Systems Inc. in a deal that could be worth more than a half-billion dollars.

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Tuesday, July 12

Public Workshop on Central Embarcadero Plans Gets Earlier Start

San Diego port commissioners have moved a scheduled July 13 public workshop to review six Central Embarcadero development proposals to an earlier 9 a.m. start time, due to a planned San Diego visit by Vice President Joe Biden.

Bill VanDeWeghe Named CEO of BioSurplus Inc.

BioSurplus Inc., a local company that buys and sells pre-owned lab equipment, has appointed Bill VanDeWeghe as its new president and chief executive officer.

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NASA-Affiliated Group Overseeing Space Station Lab Opens Local Office

CASIS, the organization that manages the U.S. national lab on the International Space Station, is setting up a permanent office in San Diego, Mayor Keven Faulconer announced on July 12.

Two Local Omni Hotels Impacted by Data Breach

A spokeswoman for Dallas-based Omni Hotels & Resorts confirmed that the company’s properties in downtown San Diego and Carlsbad were among those impacted by a nationwide data breach of customer credit card information.

Vice President Joe Biden to Talk Trade During Port District Visit

Vice President Joe Biden will make a stop at San Diego’s 10th Avenue Marine Terminal on July 13 to deliver remarks on trade enforcement, according to the Port of San Diego.

North Park Retail Center Sold for $3.7 Million

A San Diego buyer recorded as 2800 El Cajon Blvd. has acquired a North Park retail center for $3.7 million, according to brokerage firm SVN Asset Advisory Group.

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San Diego Mininum Wage Hike Takes Effect

A voter-approved increase in the minimum wage in the city of San Diego took effect Monday.

Vista Retail Center Sells for $4.9 Million

Los Angeles-based Viktor Real Estate Investment LLC has acquired a Vista retail center for $4.9 million, according to The Mansour Group at brokerage firm Marcus & Millichap.

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Trovogene Announces Another Collaboration, This One With USC

Trovagene Inc., a local firm that makes liquid biopsy tests, is collaborating with the University of Southern California’s Norris Comprehensive Cancer Center on the best way to use its tests in the clinic, the company announced Tuesday.

Monday, July 11

Bosa Buys National City Office Building for $42.7 Million

Vancouver, B.C.-based Bosa Development, which has regional operations in San Diego, has acquired a National City office building for approximately $42.7 million, according to CoStar Group and public data.

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Presbyopia Therapies Raises Nearly $4 Million in Equity Financing

Coronado-based Presbyopia Therapies LLC has raised nearly $4 million in equity financing, according to a recent form filed with the Securities and Exchange Commission.

Local Firm Plans New Industrial Facility after $8.86M Carlsbad Land Buy

RAF Pacifica Group has acquired 13.2 acres of land in Carlsbad for $8.86 million, with plans to build a new 168,000-square-foot industrial facility, the Encinitas-based company announced.

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Dan Halvorson Named CFO at Ingenu Inc.

Ingenu Inc., the Scripps Ranch company that is rolling out a wireless network for the Internet of Things, named Dan Halvorson as executive vice president and chief financial officer. The company made the announcement July 11.

Sorrento Office Owner Completes $2.5M in Upgrades, Adds 3 Tenants

San Diego-based property owner Parallel Capital Partners Inc. has completed $2.5 million in improvements at The Elements at Wateridge, the company’s three-building office complex in Sorrento Mesa.

Kratos to Help Air Force Develop Unmanned Aircraft

Kratos Defense & Security Solutions Inc. said on July 11 that it will help the Air Force Research Laboratory develop an unmanned aircraft called the Low-Cost Attritable Strike Unmanned Aerial System Demonstration aircraft, abbreviated as LCASD.

SDSU Names New Director of Corky McMillin Center for Real Estate

San Diego State University’s College of Business Administration has named Elaine Worzala as the new director of the Corky McMillin Center for Real Estate.

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Sorrento Therapeutics to Partner With French Pharma Servier

Sorrento Therapeutics Inc., a local biopharmaceutical company, has landed a partnership with French pharmaceutical giant Servier to develop products based on Sorrento’s tech.

Sunday, July 10

SANDAG Puts Half-Cent Sales Tax Increase on November Ballot

The board of directors of the San Diego Association of Governments (SANDAG) has voted to place a countywide measure on the November ballot, proposing a half-cent increase in the current sales tax to finance $18 billion in transportation-related projects.

ViaSat Opens R&D Office in Chennai, India

ViaSat Inc. said on June 30 that it opened a research and development office in Chennai, India.

Pension Fund Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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National City Co. Awarded Navy Contract Worth $30.3 Million

The U.S. Navy awarded Adept Process Services Inc. of National City a $30.3 million contract for port operations at Joint Base Pearl Harbor Hickam in Hawaii.

Santee Apartment Property Sold for $28.9 Million

A joint venture that includes LLJ Ventures of San Diego and Stratford Partners Real Estate LLC of Del Mar has acquired a 160-unit Santee apartment property for $28.9 million, according to CoStar Group and public data.

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The Business Calendar for the Week of July 11, 2016

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

Local Firms Partner on Carlsbad Residential Development

San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

San Diego Industrial Building Sells for $16.3 Million

Maryland-based Realterm Logistics has purchased an industrial property in San Diego’s Midway district for $16.3 million, according to brokerage firm CBRE Group Inc.

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Berg-Johnsen Named Chairman of USO San Diego's Board

USO San Diego announced Jon Berg-Johnsen as the new chairman of the organization's board of directors.

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Friday, July 8

SANDAG Puts Sales Tax Increase on November Ballot

The board of directors of the San Diego Association of Governments (SANDAG) has voted to place a countywide measure on the November ballot, proposing a half-cent increase in the current sales tax to finance $18 billion in transportation-related projects.

Firms Partner on Carlsbad Residential Development

San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

Berg-Johnsen Is Named Chairman of USO San Diego's Board

USO San Diego announced Jon Berg-Johnsen as the new chairman of the organization's board of directors.

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Business Calendar for Week of July 11, 2016

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

S.D. Industrial Building Sells for $16.3 Million

Maryland-based Realterm Logistics has purchased an industrial property in San Diego’s Midway district for $16.3 million, according to brokerage firm CBRE Group Inc.

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Apartment Property Sold for $28.9 Million

A joint venture that includes LLJ Ventures of San Diego and Stratford Partners Real Estate LLC of Del Mar has acquired a 160-unit Santee apartment property for $28.9 million, according to CoStar Group and public data.

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Pension Fund Is Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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Thursday, July 7

Illumina Pays Enzo Life Sciences $21 Million to Settle Patent Dispute

Illumina Inc. has settled a patent-infringement lawsuit with New York-based Enzo Biochem subsidiary Enzo Life Sciences for $21 million, according to several wire services.

Report: San Diego's Nonprofits Had $14.9 Billion in Revenue in 2013

San Diego’s nonprofit sector had $14.9 billion in revenue and $13.7 billion in expenses during 2013, according to a report released July 7.

Two Bond Rating Agencies Give Palomar Health Good Grades

Two major bond credit rating services have weighed in on the fiscal health of Palomar Health, the public hospital district announced.

ROIC Announces $115.8 Million Stock Offering

San Diego-based Retail Opportunity Investments Corp. (ROIC) on July 6 announced the start of a public offering of common stock shares, expected to generate net proceeds of approximately $115.8 million after underwriting and related expenses.

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Petco to Open Five New Stores, Remodel Another

Petco Animal Services Inc. this month will open five new locations and remodel and reopen one of its San Diego stores as its latest step in a plan to “significantly expand” the company’s national footprint by year’s end, the company announced Wednesday.

Oceanside Warehouse Building Sold for $7 Million

San Diego-based RFT Management Development co. has acquired an Oceanside industrial warehouse building for approximately $7 million, according to brokerage firm Lee & Associates.

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TPP Safeguards Future of Life Science Industry

From the polio vaccine to the MRI scanner, America has a rich history of developing lifesaving medicines. The Trans-Pacific Partnership (TPP) trade agreement is important to small pharmaceutical companies like mine and our ability to bring the next generation of medicines to the global marketplace.

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HUFC Fundraising Gala Helps Children Around the World

The Fifth Annual Hands United for Children Fundraiser Gala took place at the Prado Ballroom in Balboa Park recently. The evening raised $97,000 for HUFC’s three projects: Children’s Nature Retreat, HUFC Dental Clinic and the programs in Saponé Burkina Faso in West Africa, all benefitting children in need.

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Nature Is a Very Good Neighbor in This Serene Setting

The Varadero housing development at the top of Lake San Marcos is a gated community and a private enclave of high-end homes. “Varadero,” which means boathouse or dry dock in Spanish, sits like the crown jewel high above the man-made lake and recreation area.

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Time Change

Tower Paddle Boards’ Clock Management Looks to Win the Day With Its 25-Hour Workweek

Stephan Aarstol has no problem with capitalism.

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Navy Awards ViaSat Contract Worth $48.3 Million

The U.S. Navy awarded Carlsbad-based ViaSat Inc. a contract that could be worth up to $48.3 million over five years.

WORKING THE ROOM | Frugal, Friendly & Smart

Office Décor Can Deliver a Message About Your Company While Staying Below Budget

The most popular room in LoanHero’s new 14th-floor office in downtown San Diego is furnished with leather high-back chairs, wooden wall sconces and a vintage hobnail milk-glass desk lamp.

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WORKING THE ROOM | What Is Cost-Effective?

Landlords Must Deliver Amenities Without Going Overboard

It’s not easy to assess ROI when it comes to office amenities.

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Executive Q&A Henry Ford, Fox Sports San Diego

In 2012, Henry S. Ford spearheaded the launch of Fox Sports San Diego, a partnership between Fox Cable Networks and the San Diego Padres.

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FDA Hold Takes Valuable Time From Regulus’ Lead Product

It’s tough times for Regulus Therapeutics Inc. Once a local biotech heavyweight valued at nearly $1 billion, the San Diego company’s shares have fallen dramatically over the last 18 months. The company’s valuation is hovering around $170 million after the latest blow: a FDA-ordered suspension on Regulus’ lead product candidate, RG-101.

‘Shark Tank’ Survivors

FINANCE: Local Businesses Tested the Waters Of TV Show Financing With Mixed Results

When producers of the popular ABC TV show “Shark Tank” last came through San Diego County to audition potential entrepreneurs in 2014 — at Southwestern College in National City — more than 150 locals showed up to make their pitch.

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San Diego’s ‘Skyline’ Market Is Drawing Investor Interest

Now that four big downtown office towers have been sold in 2016, San Diego’s “Skyline” market is poised for its biggest year in a decade for deal volume, according to a recent report by the brokerage firm JLL.

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Meizu Has Home-Field Advantage in IP Battle With Qualcomm

This is obviously not territory for a first-timer. I would wager that Qualcomm Inc. has its best legal minds on this case.

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Camera Mount Gives Jaws Supporting Role in Surf Videos

RETAIL: Patent Should Help Clear Out MyGo’s Competition

Post a video or it didn’t happen. That’s the sentiment of many surfers now strapped with GoPros and other action cameras as they sail through barrels and carve massive waves.

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Deal Could Be Worth $3.16B for NASSCO

DEFENSE: First Contract For Oiler Is $640.2 Million

General Dynamics NASSCO received an order for six oilers — auxiliary ships that rendezvous with U.S. Navy combat ships at sea and refuel them — that could be worth in excess of $3.1 billion.

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Women Membership Is Low on S.D. Boards

LEADERSHIP: Study Also Questions Voting Procedure

San Diego’s public companies have fewer women on their boards than their national counterparts.

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Biotech Financing

BIOTECH: Halozyme Gets Creative in Pursuit of Cash

In today’s market, with valuations down and investors wary, it’s critical for biotechs to get creative when looking for cash to fuel research.

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Kearny Mesa Office Park Owner Obtains $18.3 Million in Refinancing

Property owner Brookwood Financial Partners LLC has obtained $18.3 million in refinancing for its Four Points Business Park in Kearny Mesa, according to Mesa West Capital LLC, which provided the financing.

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Wednesday, July 6

San Diego Apartments Sold in Deals Totaling $4.3 Million

Two San Diego apartment properties recently changed hands in separate deals totaling more than $4.3 million, according to brokerage firm South Coast Commercial Inc.

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Cubic Contract Award Announced in Error, Pentagon Says

An $11.5 million U.S. Army contract modification for San Diego-based Cubic Corp., announced Tuesday, was announced in error.

Germany-based Curetis GmbH Opens North American subsidiary in San Diego

Germany-based Curetis GmbH has opened a North American subsidiary in San Diego and named Christopher M. Bernard as its leader.

CBRE Ranks San Diego 16th Among Tech Talent Markets

San Diego ranks 16th among 50 U.S. and Canadian cities for its ability to attract and grow technology industry talent, according to the latest annual report by the commercial brokerage firm CBRE Group Inc.

Trovagene, University of Michigan to Collaborate on Test for Early Detection of Pancreatic Cancer

Trovagene Inc., a San Diego-based company that makes liquid biopsy tests, announced that it is partnering with the University of Michigan Comprehensive Cancer Center on a multi-phase research collaboration to assess whether Trovgene’s Trovera KRAS ctDNA test can be used to detect early-stage pancreatic cancers.

Apartments at Chula Vista’s Millenia Sold for $93.8 Million

An affiliate of Milwaukee-based Northwestern Mutual Life Insurance Co. has purchased the 273-unit Pulse Millenia apartment property in Chula Vista for $93.8 million, according to CoStar Group and public data.

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Microlender Accion Partners With Small Business Administration

The San Diego District Office of the U.S. Small Business Administration has signed an agreement with Accion San Diego, a nonprofit microlender.

Local Construction Starts Decline 9 Percent in First Five Months

The total value of San Diego’s construction starts was down nine percent from a year ago, at just over $1.25 billion, for the first five months of 2016, according to the latest monthly figures from Dodge Data & Analytics.

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Tuesday, July 5

Solana Beach School Property Sells for $6.25 Million

An intermediary for Builders Trust of Los Angeles has acquired a three-building private school campus in Solana Beach for $6.25 million and is leasing back the property to its seller, an affiliate of Irvine-based LePort Educational Institute Inc.

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Orange County Buyer Acquires Chula Vista Apartments for $8.39 Million

A Tustin-based investment group recorded as River Oaks Apartments LLC has acquired Pharus Plaza, a 30-unit apartment property in Chula Vista, for approximately $8.39 million, according to CoStar Group and brokerage firm Marcus & Millichap.

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Cidara Therapeutics Expands Management Team

Cidara Therapeutics Inc., a San Diego-based biotechnology company developing anti-fungal medications, announced the addition of Neil Abdollahian and Matt Onaitis to the executive management team. Abdollahian was named chief business officer and Onaitis was appointed chief financial officer and general counsel.

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Chula Vista Apartment Property Sells for $13.2 Million

A California limited partnership affiliated with La Mesa-based Hanken Cono Assad & Co. Inc. has acquired a 70-unit apartment property in Chula Vista for approximately $13.2 million, according to CoStar Group and public data.

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Kratos Receives Multiple Contracts Worth $14 Million

Kratos Defense & Security Solutions Inc. said on July 5 that its modular systems unit received $14 million in contract awards.

La Jolla-Based Sector 9 Acquired by Bravo Sports Corp.

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

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Army Awards Cubic Corp. Contracts Worth $63.7 Million

Cubic Corp. received a total of $63.7 million through two recent U.S. Army contracts to provide training services at Fort Polk, La.

Monday, July 4

Kyocera to Consolidate Four Subsidiaries Into Main North American Operation

San Diego-based Kyocera International said July 1 that it planned to reorganize and fold four subsidiaries into its main North American organization.

Arena Pharmaceuticals Is Slashing Its Workforce 73 Percent

San Diego drugmaker Arena Pharmaceuticals is laying off 100 employees, or 73 percent of its workforce, as part of a strategic shift in focus.

San Diego Economic Index Down Slightly in May

An index tracking San Diego’s economic health showed the region in May lost nearly all gains made the previous month as hiring slowed and local stock prices dropped.

Ignyta Secures $42 Million Loan Facility

San Diego’s Ignyta Inc. has secured $42 million in loan from Silicon Valley Bank and Oxford Finance.

The Business Calendar for the Week of July 4, 2016

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

California Economic Index Shows Gain

Comerica Bank’s California Economic Activity Index advanced 0.9 of a percentage point in April to a level of 120.6, the bank said.

University, Physicians Group Create Online Portal to Facilitate Internships

National University, a private, nonprofit university, is joining with a Scripps Health-affiliated physicians group to make it easier for students studying health care administration and public health to land internships from among hundreds of local physician groups, the university announced.

Friday, July 1

Arena Is Slashing Its Workforce 73%

San Diego drugmaker Arena Pharmaceuticals is laying off 100 employees, or 73 percent of its workforce, as part of a strategic shift in focus.

Business Calendar for Week of July 4, 2016

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

University and Physicians Group Create Online Portal to Facilitate Internships

National University, a private, nonprofit university, is joining with a Scripps Health-affiliated physicians group to make it easier for students studying health care administration and public health to land internships from among hundreds of local physician groups, the university announced.