Stories for May 2016

Tuesday, May 31

General Dynamics NASSCO Getting New Navy Contract

The U.S. Navy has indicated it wants a fifth expeditionary warfare ship from General Dynamics NASSCO.

Local Construction Starts Down 23 Percent in First 4 Months of 2016

The value of San Diego County’s construction starts declined 23 percent from the year-ago period in the first four months of 2016, totaling just over $831.8 million, according to the latest monthly figures from Dodge Data & Analytics.

Commissioner Urges 10.5 Percent Cut in Workers' Comp Rate

Good news for California employers: State Insurance Commissioner Dave Jones has recommended a 10.5 percent cut in the workers’ compensation premium rate that insurers charge employers.

Noble Group to Sell San Diego-Based Noble Americas Energy Solutions

Trading firm Noble Group announced the resignation of its chief executive officer and said it will sell San Diego-based Noble Americas Energy Solutions.

Cognitive Medical Systems Partners with Accenture on Deal Worth Up to $22.3B

Cognitive Medical Systems, a San Diego-based company specializing in health IT software, announced May 31 that it will partner with Accenture on a multiple-award federal technology contract worth up to $22.3 billion.

BNBuilders Begins Remodel at Scripps La Jolla

BNBuilders, a general contractor with a San Diego office, announced the start of the remodel of the obstetrics unit at Scripps Memorial Hospital La Jolla May 31.

San Marcos Industrial Building Sold for $3.5 Million

Cross Development of Carrollton, Texas, has acquired a San Marcos industrial building for approximately $3.5 million, according to brokerage firm Lee & Associates. The property will be occupied by Caliber Collision, a nationwide provider of collision repair services.

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San Diego International Airport Traffic Rose 1.8 Percent in April

San Diego International Airport saw total passenger traffic rise 1.8 percent in April from the same month a year ago, to nearly 1.7 million, according to the latest monthly numbers from the San Diego County Regional Airport Authority.

Monday, May 30

Ballast Point Brewing & Spirits Investing $47.8 Million in Virginia Brewing Operations

San Diego’s Ballast Point Brewing & Spirits will invest $47.8 million to establish East Coast brewing operations in suburban Roanoke, Va., the Virginia governor’s office announced.

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UC Regents Buy Torrey Pines Office Campus for $134.1 Million

The Oakland-based Regents of the University of California, which oversees the statewide public university system that includes UC San Diego, has acquired a five-building office campus at Torrey Pines for approximately $134.1 million, according to CoStar Group and public data.

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SeaWorld San Diego Is Only Major Park to See Attendance Decline

SeaWorld San Diego placed 14th among North American theme parks in 2015, but was the only venue among the top 20 to see attendance drop in 2015, according to the latest annual visitor report from the Themed Entertainment Association and consulting firm AECOM.

Pirch Opens SoHo Location

San Diego-based Pirch, known for its showrooms with live demonstrations of upscale home furnishings and fixtures, recently opened a location in SoHo.

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General Dynamics NASSCO Reports Keel Laid in Construction of Commercial Tanker

General Dynamics NASSCO said that it laid the keel of a commercial tanker to be named Liberty on May 26 at its shipyard in Barrio Logan.

The Business Calendar for the Week of May 30, 2016

Some of the business events planned in the county for the week of May 30, 2016, and beyond.

Office Project Planned After $2.9 Million Land Buy in Carlsbad

Burke Real Estate Group of Costa Mesa has purchased a 3.1-acre land parcel in Carlsbad for $2.9 million, with plans to develop a two-story creative office building, according to brokerage firm CBRE Group Inc.

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Orexigen Therapeutics Co-Founder Resigns From the Board of Directors

San Diego drugmaker Orexigen Therapeutics Inc. announced May 27 that Dr. Eckard Weber, the company’s co-founder and former chairman, has resigned from the board of directors.

San Diego-Based Sygnos Inc. Receives $8.4M Navy Contract

The U.S. Navy awarded Sygnos Inc., a San Diego-based small business, an $8.4 million contract to repair and restore a bachelor enlisted quarters building at Marine Corps Base Camp Pendleton.

Friday, May 27

General Dynamics Reports Keel Laid in Construction of Commercial Tanker

General Dynamics NASSCO said that it laid the keel of a commercial tanker to be named Liberty on May 26 at its shipyard in Barrio Logan.

Business Calendar for Week of May 30, 2016

Some of the business events planned in the county for the week of May 30, 2016, and beyond.

Ballast Point Brewing Investing $47.8M in Virginia Brewing Operations

San Diego’s Ballast Point Brewing & Spirits will invest $47.8 million to establish East Coast brewing operations in suburban Roanoke, Va., the Virginia governor’s office announced.

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SeaWorld San Diego Only Major Park to See Attendance Decline

SeaWorld San Diego placed 14th among North American theme parks in 2015, but was the only venue among the top 20 to see attendance drop in 2015, according to the latest annual visitor report from the Themed Entertainment Association and consulting firm AECOM.

Orexigen Co-founder Resigns From the Board of Directors

San Diego drugmaker Orexigen Therapeutics Inc. announced May 27 that Dr. Eckard Weber, the company’s co-founder and former chairman, has resigned from the board of directors.

University of California Regents Buy Torrey Pines Office Campus for $134.1 Million

The Oakland-based Regents of the University of California, which oversees the statewide public university system that includes UC San Diego, has acquired a five-building office campus at Torrey Pines for approximately $134.1 million, according to CoStar Group and public data.

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Office Project Planned After $2.9M Land Buy in Carlsbad

Burke Real Estate Group of Costa Mesa has purchased a 3.1-acre land parcel in Carlsbad for $2.9 million, with plans to develop a two-story creative office building, according to brokerage firm CBRE Group Inc.

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San Diego-Based Pirch Opens SoHo Location

San Diego-based Pirch, known for its showrooms with live demonstrations of upscale home furnishings and fixtures, recently opened a location in SoHo.

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Thursday, May 26

Navy Awards $40.7 Million Contract to BAE Systems San Diego Ship Repair

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $40.7 million contract for dry dock work on the guided missile destroyer USS Paul Hamilton. The work, which the Navy calls an extended dry-docking selected restricted availability, will include maintenance, modernization and repair.

Phoenix House California Names New Executive Director

Phoenix House California named Shawna Morris its executive director over the nonprofit's California locations, including Phoenix House San Diego.

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Callaway Golf Co. Invests in Texas Business

Carlsbad golf equipment maker Callaway Golf Co. said on May 26 that it has invested in Junior.Golf, a technology business based in Austin, Texas.

S&P Raises San Diego County Water Authority’s Credit Rating to AAA

S&P Global Ratings has upgraded the San Diego County Water Authority’s senior lien credit rating to AAA, the San Diego County Water Authority said.

Irvine Co. Opens New UTC Office Building, with Another Underway

Irvine Company’s office property division has opened its new three-story Eastgate Summit at University Towne Center, and has construction underway on a nearby building called Eastgate Terrace. The projects represent a total investment of more than $50 million by the Newport Beach-based company.

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Rhonda Beathard to Lead Mason-McDuffie Mortgage Corp.'s New La Jolla Office

Mason-McDuffie Mortgage Corp., a privately held mortgage banking firm headquartered in San Ramon, is opening an office in La Jolla.

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Apartments Planned Following $6.1M Purchase of San Diego Hotel

Fowler Property Acquisitions LLC of Newport Beach has acquired Hotel Metro, in downtown San Diego’s East Village, for $6.1 million. Plans call for redeveloping the property into market-rate studio apartments, according to brokerage firm CBRE Group Inc.

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Justice Department Sues Prime Healthcare

The U.S. Department of Justice on Wednesday announced that it has filed a Medicare-fraud lawsuit against Prime Healthcare Services Inc. of Ontario, which owns Alvarado Hospital in San Diego, where a whistleblower complaint initiated an investigation.

Battling the Laws of Nature

Court Rulings on IP May Threaten Future of Genomics Research

Life sciences companies in San Diego and around the nation are working to cope with legal decisions that restrict how they can secure patents for discoveries that involve the laws of nature.

Wage Increase Takes Toll on Business Optimism

San Diego County business owners are less optimistic about prospects ahead because of the planned increases in the minimum wage and their own doubts about future hiring, the San Diego Regional Chamber of Commerce reported May 19.

Space Debris Turns Orbit Into Obstacle Course

On Sept. 2, 2015, San Diego’s PMW 146 launched the final installation of its $7.3 billion Mobile User Objective System, a global communications system of the U.S. Navy comprised of four geosynchronous satellites.

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Volunteers Take Several Steps to Help Fight Liver Disease

American Liver Foundation’s Pacific Coast Division held the 18th Annual Liver Life Walk in Liberty Station recently. Nearly 600 walkers raised more than $64,000 to support medical research, educate patients, families, caregivers and health care professionals about liver wellness and disease prevention. The team from San Diego-based Intercept Pharmaceuticals Inc. was the top fundraising team, raising $7,455.

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Stopping Slippery Imitators

WD-40 Counters The Counterfeiters Around the Globe

Imitation may be the sincerest form of flattery, but it’s a headache for WD-40 Co.

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Brand Theft

Taylor Guitars Among Premium Manufacturers Battling Trademark Violations

Musicians buy high-end guitars for their craftsmanship and superior performance, but overseas counterfeiters are deceiving some consumers with cheaply made copies.

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Wednesday, May 25

Seismic Raises $40 Million in Series C Round

Solana Beach-based Seismic said on May 25 that it raised $40 million in a series C round led by General Atlantic.

Biotech Investor Makes San Diego the Center of His Ecosystem

FINANCE: Xanthopoulos Brings Leadership, Focus And Location to Companies

The growth of San Diego’s biotech hub is often credited to a small but active pool of “serial entrepreneurs.” As the historically vibrant ecosystem begins to dim in a down market, a few bold individuals with enough cash or clout to refuel the sector become increasingly valuable.

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Jackie Robinson YMCA Breaks Ground on New Facility

The Jackie Robinson Family YMCA celebrated the groundbreaking of its new $31.5 million, 50,000-square-foot community center in southeastern San Diego on May 20.

Ex-Qualcomm Employees Adjust to Life After Layoffs

TECH: Company’s Reputation Is Plus in Search for New Job

Sanj Gunetileke says he never experienced a boring work day during his six-year career at Qualcomm Inc.

‘Passive House’ Designed for an Active Role in Sustainability

ENERGY: House Has Wind Turbine, Intelligent Energy Monitoring

Builders of a new house in Ramona are trying to change the future of the residential housing market by building green, ultra-low energy homes at a lower cost.

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Meeting the Demand Keeps Rents High at Medical Offices

PROPERTY: Offices Under Construction Are Already Leased

Rising demand for care services, along with limited new construction in high-demand submarkets, continue to make San Diego County a friendly place for owners of medical office buildings.

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Have Gun — Will Travel: GA Shows Its Railgun’s Features

A few years ago, the U.S. Navy chose BAE Systems as the prime contractor to build its electromagnetic railgun — a turn of events that probably stung at General Atomics, since the local company wanted that distinction.

Energy Department Grant Puts Gas-Fueled Engine on Agenda

ENERGY: Challenge Is to Make That Engine Behave as Diesel Engine

A Sorrento Valley company may one day put a new type of engine — a relic of World War II with a radical update — under the hoods of the cars that ply Southern California’s freeways.

Avalon, GSK Launch Their Eighth Startup

DRUGS: Tougher Times in Pharma Add to Challenges

Avalon Ventures LLC is launching an additional startup out of its venture capital incubator in La Jolla. The firm, called PDI Therapeutics Inc., is jointly backed by British drugmaker GlaxoSmithKline plc and San Diego’s Avalon as part of an ongoing partnership.

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Team Effort May Not Materialize for Boycott

SPORT: Convadium Backers’ Game Plan Is to Rally Fans

Organizers of a boycott targeting three San Diego hotel companies acknowledge they face an uphill task turning football fan sentiment into tangible business and political clout in upcoming ballot campaigns focused on the potential development of a hybrid $1.8 billion stadium and convention facility that would be financed largely through hotel tax increases.

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Retail Projects Follow New Residential Sites

PROPERTY: Retail Rents Are High as Vacancies Are Low

A continued influx of tourists and new residents is expected to keep San Diego County retail space in tight supply as rents continue to rise this year at the most coveted locations, according to a newly released report by the brokerage firm Marcus & Millichap.

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Performing Under Pressure

BIOTECH: Exec Brings Co. to S.D. To Work on Stroke Treatment Device

Kleanthis Xanthopoulos, a veteran of San Diego’s biotech community, is heading up a new venture in La Jolla.

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Pacific Beach Apartment Property Sells for $2.39 Million

Santa Margarita Properties I LLC, operating in San Diego and Laguna Hills, has purchased a six-unit apartment complex in Pacific Beach for approximately $2.39 million, according to brokerage firm Apartment Consultants Inc. (ACI).

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Want to Buy a Home in S.D.? Need to Earn $104,486, Study Finds

A salary of $104,486 is needed to buy a home in San Diego where the median price sits at $554,300, according to a study by HSH.com, a mortgage information site, which looked at data from the first quarter of 2016.

Qualcomm and Medtronic Team Up on Disposable Diabetes Tech

Qualcomm Life, the San Diego healthtech subsidiary of Qualcomm Inc., is teaming up with Medtronic Plc to develop disposable glucose monitoring systems for type 2 diabetes patients.

Miramar Office Buildings Sold for $6.63 Million

A La Jolla buyer recorded as Tierra Grande 3B LLC has purchased three Miramar office buildings for a total of approximately $6.63 million, according to CoStar Group and public data.

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Retired Navy Vice Admiral to Lead Cubic Corp.'s Global Defense Unit

Cubic Corp. said May 25 that it promoted David Buss to president of its Cubic Global Defense business unit. He replaces Bill Toti, who is leaving the company to pursue other career opportunities.

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Construction Starts on $45M Mixed-use Project in East Village

The Richman Group of California Development Co. has started construction on F11, a $45 million mixed-use apartment project in downtown San Diego’s East Village.

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Tuesday, May 24

UC San Diego Key Partner in New Binational Institute

Advanced materials able to withstand extreme environments are the focus of a new binational institute inaugurated May 24.

ViaSat Inc. Reports Q4 Net Income of $4.5 Million

ViaSat Inc., the Carlsbad company that sells satellite electronics and services to government and commercial markets, reported net income of $4.5 million (9 cents per share) on revenue of $372.0 million in the fourth quarter ended March 31. The business reported its earnings on May 24.

La Jolla-Based Innovus Acquires Texas Firm

La Jolla’s Innovus Pharmaceuticals Inc., a commercial-stage drug company that makes over-the-counter medicine, has acquired Austin, Texas-based Beyond Human for $630,000 in cash.

Claire Long Named CFO at BlueHornet

BlueHornet, a San Diego-based email marketing software and services provider, announced Claire Long as its new chief financial officer.

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North San Diego Business Chamber Names Its Board of Directors

North San Diego Business Chamber announced Keith Wilschetz will be the chairman of its board of directors for the 2016-2017 term.

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Third Local Gelson’s Store Debuting in Pacific Beach

Gelson’s Markets plans a May 26 opening for its store in northern Pacific Beach, which will be the third San Diego County location for the Encino-based specialty grocer.

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MDRejuvena Appoints Kriech as President and CEO

San Diego skin care firm MDRejuvena Inc. has appointed Randy Kriech as president and CEO of the company.

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Monday, May 23

California Chamber Announces Opposition to Two November Ballot Measures

The California Chamber of Commerce announced Monday that it is opposing a likely November ballot measure to extend the income tax increase of Proposition 30 until 2031. The group said it also opposes an initiative that would impose a cap on total annual compensation paid to certain hospital executives.

LRAD Corp. Reports Q2 Revenue of $3.6 Million

LRAD Corp., the Rancho Bernardo maker of specialized loudspeakers used by militaries, law enforcement and governments, reported a net loss of $665,000, or 2 cents per share, on revenue of $3.6 million in the second quarter of fiscal 2016, which ended March 31. An income tax benefit of $547,000 cushioned the loss.

Navy Awards General Dynamics NASSCO One-Year Contract Worth Up to $83.5 Million

The U.S. Navy awarded General Dynamics NASSCO a one-year contract extension for littoral combat ship sustainment. The deal could be worth up as much as $83.5 million.

Small Business Needs Fewer Burdens, Not More

As a small business operator in San Diego, I know that every penny from every sale is incredibly important to my success, and those sales are driven by the customers I am able to reach around the world through the internet and platforms like eBay.

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SDMAC Creates Foundation to Further Its Outreach, Initiatives

The San Diego Military Advisory Council has announced the formation of its new charitable nonprofit, the SDMAC Foundation. The newly created 501(c)3 will allow San Diego’s leading nonprofit military organization to further promote general awareness and understanding of the importance of a strong national defense in our region — and will further support San Diego’s active-duty and retired military community through program initiatives, educational outreach, and events funded by tax-deductible donations received by the organization.

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No Need for a Map to the Stars in Beautiful Borrego Springs

If you grew up somewhere other than a densely populated urban environment, you’ll remember the absolute awe of staring up at a night sky thick with stars. Borrego Springs

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In-House Stars Will Shine at SDBJ’s General Counsel Awards

The San Diego Business Journal has one of the best group of candidates for its General Counsel Awards for 2016. You should attend this event June 30 at Hall of Champions in Balboa Park from 4-7 p.m.

Headphone Company Makes a Safe and Very Sound Product

Some headphone makers make power their top priority. When they go to market, they promise an overwhelming sensory experience.

Quarterly Reports: Nuisance or Benefit?

FINANCE: Some Say The Process Limits Company Focus

Quarterly earnings results grab the attention of nearly everyone in the financial world — investors, analysts, competitors, even reporters. They’re a brief glimpse into the inner workings of major corporations, with earnings per share even a few cents higher or lower than expected leading to serious stock spikes.

Mesa Biotech Appoints CFO, SVP of Operations

San Diego-based Mesa Biotech Inc., a privately held, molecular diagnostic company, announced the appointment of Tom Willardson as chief financial officer and John Monroe as senior vice president of operations.

The Big Leadership Decision

Implementing a CEO Transition Involves Many Complicated Factors for A Company

CEOs have tough jobs. There are many ways to go wrong and many ways to make stakeholders unhappy.

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Executive Q&A Vanessa Jacoby, Dan Chevallard, VPs of Finance

These are uneasy days for biotech CFOs. Valuations are down, capital is harder to come by, and companies (fearful they will be undervalued) are shying away from acquisition talks.

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Smart & Final Fills Its Share Of Former Haggen Locations

Less than five months into 2016, the competitive slate of grocery stores now operating in San Diego County looks very different than it did at the end of 2015 — due largely to the quick departure of the Northwest supermarket chain Haggen Inc.

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Yogurt Franchisor Prepares Smooth Transition for Growth Plans

VENDING: Co. Takes New Name, Begins to Seek Other Markets

Fresh Healthy Vending International Inc. is renaming itself and splitting its franchises in advance of its release of its latest product, a frozen yogurt robotic kiosk.

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Ionis Pharmaceuticals, Texas Cancer Center to Partner

One of San Diego County’s biggest drugmakers is teaming up with a cancer center in Texas to tackle new strategies in oncology.

Kearny Mesa Medical Office Building Sold for $4 Million

A buyer recorded as 2100 Fifth Avenue LLC of San Diego has acquired a Kearny Mesa medical office building for $4 million, according to brokerage firm JLL.

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Bankers Hill’s Status Is Being Elevated

PROPERTY: Projects, Plans And Demand Reshaping Area

In the Bankers Hill building where printing presses once churned out copies of the San Diego Daily Transcript, the property’s new owner, Michael Donovan, envisions a space where restaurant patrons will one day enjoy freshly brewed craft beer.

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La Mesa Office Building Sells for $3.5 Million

La Mesa Business Associates Real Estate General Partnership has acquired a multi-tenant office building in La Mesa for $3.5 million, according to brokerage firm SVN Asset Advisory Group.

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Convention Center’s New CEO Ready to Talk

TOURISM: Town-Hall Meetings to Address Expansion

Prospects for an expansion of the San Diego Convention Center — contiguous, noncontiguous or none of the above — are likely to remain among much-debated city priorities in an election year filled with heated talk over possible hotel tax hikes and a proposed downtown football stadium.

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Sharing Economy Puts On White Lab Coat

BIOTECH: Key Resource Offered in Co.’s Lab Rentals

Two entrepreneurs in San Diego are applying “sharing economy” principles to a new frontier: science.

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Nature’s Nightlight

RETAIL: Co.’s Dino Pets Tap Plankton Power to Sell Unusual Aquariums

Who knew plankton could be fun? A Carlsbad company called BioPop has managed to convince people that the little creatures make good pets. It’s built a growing, $1.4 million business around a particular species of plankton, Pyrocystis fusiformis.

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Carlsbad Firm Buys Flagstaff Apartments for $58.7 Million

Carlsbad-based Red Rock Investment Management has acquired a two-building apartment portfolio in Flagstaff, Ariz., with a total of 419 units, for approximately $58.7 million, the company announced.

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OncoSec to Raise $10 Million in Stock Offering

San Diego-based OncoSec Medical Inc. will sell about $10 million of its common stock to a single health care institutional fund, the company announced Monday.

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Sunday, May 22

San Diego Venture Group's Cool Companies Set to Show Their Tech Talents

San Diego Venture Group is giving dozens of local startups a stage to show off their tech at its yearly “Cool Companies” event in early June. Shortly after the event, the startups will get private meetings with over 30 venture capitalists visiting from Silicon Valley and Los Angeles.

Stone Brewing Expanding to Wine Country with Napa Tap Room, Brewery

Stone Brewing Co. plans to open a new beer tap room and pilot brewery in downtown Napa, marking the latest expansion beyond San Diego County for the Escondido-based company.

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Avalon, GSK Launch Eighth Startup, Report Milestones

Avalon Ventures is launching an additional startup out of its VC incubator in La Jolla. The firm, called PDI Therapeutics Inc., is jointly backed by British drugmaker GlaxoSmithKline and San Diego’s Avalon as part of an ongoing partnership.

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San Diego Ranks Fifth on List of Top U.S. Meeting Destinations

San Diego ranks fifth among U.S. markets in an annual ranking of the top 50 destination cities for meetings and events, published by the event management services provider Cvent Inc.

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Business Events Calendar for Week of May 23, 2016

Some of the business events planned in the county for the week of May 23, 2016, and beyond.

New Grads Have We Got a Place for You: San Diego

San Diego ranked fourth in the western U.S. as a place for new grads and 19th nationally, in a recent study by Zumper, an apartment search site.

Vista-based Glacier Water Announces Q1 Results

Vista-based Glacier Water Services Inc. announced its first quarter results May 19 with 2.8 percent revenue growth to $31.8 million and a jump in operations income.

Golden Hill Apartment Property Sells for $4.1 Million

Dadah Family Trust of Laguna Hills has purchased a 14-unit apartment property in San Diego’s Golden Hill neighborhood for $4.1 million, according to brokerage firm Apartment Realty Group Inc. (ARG).

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Pulse Electronics Refinances $80M in Debt

Pulse Electronics Corp. — a San Diego company that makes electronic components — said on May 19 that it has refinanced $80 million in debt.

San Diego-based Impact Components Eligible to Vie for $9.5M in Navy Contracts

San Diego-based Impact Components is among four small businesses who recently received indefinite delivery, indefinite quantity contracts to supply electrical components to the U.S. Navy.

Friday, May 20

Golden Hill Apartment Property Sells for $4.1M

Dadah Family Trust of Laguna Hills has purchased a 14-unit apartment property in San Diego’s Golden Hill neighborhood for $4.1 million, according to brokerage firm Apartment Realty Group Inc. (ARG).

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S.D. Ranks Fifth on List of Top U.S. Meeting Destinations

San Diego ranks fifth among U.S. markets in an annual ranking of the top 50 destination cities for meetings and events, published by the event management services provider Cvent Inc.

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Business Calendar for Week of May 23, 2016

Some of the business events planned in the county for the week of May 23, 2016.

Glacier Water Reports Q1 Results

Vista-based Glacier Water Services Inc. announced its first quarter results May 19 with 2.8 percent revenue growth to $31.8 million and a jump in operations income.

Stone Brewing Co. Expanding to Wine Country with Napa Tap Room, Brewery

Stone Brewing Co. plans to open a new beer tap room and pilot brewery in downtown Napa, marking the latest expansion beyond San Diego County for the Escondido-based company.

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Avalon and GSK Launch Eighth Startup, Report Milestones

Avalon Ventures is launching yet another startup out of its VC incubator in La Jolla. The firm, called PDI Therapeutics Inc., is jointly backed by British drugmaker GlaxoSmithKline and San Diego’s Avalon as part of an ongoing partnership.

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Thursday, May 19

Seacoast Commerce Banc Holdings Announces Quarterly Dividend

San Diego-based Seacoast Commerce Banc Holdings, the parent company of Seacoast Commerce Bank, announced the company’s first regular quarterly cash dividend of $0.05 per common share.

Navy Awards Cypher Analytics Five-Year, $28.8 Million Contract

The U.S. Navy awarded San Diego-based Cypher Analytics Inc. a contract that could be worth up to $28.8 million over five years.

Chamber Poll Finds Looming Minimum Wage Hike Dampening Business Optimism

San Diego County business owners are less optimistic about prospects ahead because of the planned increases in the minimum wage and their own doubts about future hiring, the San Diego Regional Chamber of Commerce reported on May 19.

Edico Genome Secures Patent, Strengthens IP Position

Bioinformatics firm Edico Genome Corp. has landed its third foundational patent, the company announced Thursday. The patent further secures the company’s core technology, and may ease the minds of collaborators considering new applications for the tech.

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Alaska Airlines Adds Three More Daily Stops in San Diego

Alaska Airlines announced it will add more stops in California between San Diego, Sacramento, Burbank and San Jose.

Italian Restaurant Chain Spoleto Plans Six Local Eateries

Brazil-based Spoleto, a fast-casual Italian restaurant chain that lets customers choose ingredients for their entrees, plans to open six of its first seven California locations in San Diego County.

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Realty Income Begins $385.8 Million Stock Offering

Realty Income Corp. has commenced an offering of common stock expected to raise approximately $385.8 million in gross proceeds, the San Diego-based company announced.

Wednesday, May 18

General Atomics Demonstrates Railgun During Army Exercise

General Atomics Electromagnetic Systems said that it demonstrated its Blitzer railgun during a three-week U.S. Army exercise in April at Fort Sill, Okla.

TPT Global Tech Inc. Acquires Trucom Networks

Downtown San Diego-based TPT Global Tech Inc. said it acquired Trucom Networks, a competitive local exchange carrier in Arizona and Nevada. Terms of the deal were not disclosed.

Bankers Hill Senior Apartments Reopen After Extensive Renovation

Developers have reopened the 150-unit Westminster Manor in Bankers Hill, following a $55.2 million acquisition and renovation of the senior affordable apartment property, according to the San Diego Housing Commission.

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Ron's Pharmacy Partners with Atlanta-Based Guardian

San Diego-based Ron’s Pharmacy Services has joined forces with Atlanta-based Guardian Pharmacy to streamline certain efforts.

Fireplace Manufacturer Buys Miramar Industrial Building for $2.17 Million

An affiliate of San Juan Capistrano-based Capo Fireside, a custom fireplace manufacturer, has purchased a Miramar industrial building for $2.17 million, according to brokerage firm Colliers International Group Inc.

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Innovus Pharma Plans to Uplist

Penny stock Innovus Pharmaceuticals Inc. announced plans Wednesday to uplist to the NYSE MKT, formerly known as the American Stock Exchange.

City Heights Apartment Property Sells for $3 Million

Xavier Family Trust of Del Mar has purchased a 24-unit apartment property in San Diego’s City Heights neighborhood for approximately $3 million, according to brokerage firm South Coast Commercial Inc.

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Tuesday, May 17

Franklin Wireless Reports Q3 Net Sales of $14.1 Million

Franklin Wireless Corp. reported net income of $391,000 on net sales of $14.1 million during its third quarter, which ended March 31. The San Diego business filed its statement with securities regulators on May 16.

Abacus Data Systems Acquires Amicus Attorney

Abacus Data Systems Inc. announced on May 17 that it acquired Toronto-based Amicus Attorney, a practice management solution for lawyers. Financial terms of the transaction were not disclosed.

San Diego Sport Innovators Springboard Is Accepting Applications

San Diego Sport Innovators (SDSI), a nonprofit business development organization for the sports and active lifestyle industry (SAL), is now accepting applications to its business accelerator program, SDSI Springboard, the nonprofit said.

San Diego Ranks Third Nationally for Clean Tech Leadership

San Diego ranked third in a national clean tech leadership index released May 17 by Clean Edge Inc.

San Diego’s Big Brothers Big Sisters Announces New CEO

The nonprofit Big Brothers Big Sisters of San Diego County announced that S. Wayne Kay will be its new chief executive officer and president.

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Stadium Proponents Call For Boycott Against 3 Hotel Companies

An organization called San Diego Stadium Coalition has joined with Save Our Bolts and other civic and fan groups, calling for a boycott of three hotel companies they claim are collectively opposing development of a hybrid downtown stadium and convention facility favored by the San Diego Chargers.

Sorrento Valley Office Park Sold for $26 Million

Newport Beach-based Webb Management & Investments has acquired a four-building office property in Sorrento Valley for approximately $26 million, according to CoStar Group and real estate services firm Holliday Fenoglio Fowler LP (HFF).

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Fate Therapeutics Appoints Storgard as Chief Medical Officer

San Diego’s Fate Therapeutics Inc. has appointed a new chief medical officer in charge of clinical trial design and execution, the company announced Tuesday.

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Monday, May 16

Pentagon Awards Contracts to Three S.D. Firms

Three small construction companies from San Diego County are in line for millions of dollars of Pentagon work.

UC San Diego Key Participant in White House Initiative

UC San Diego is joining a multimillion-dollar research effort to better understand “microbiomes,” the White House announced. The area of science is a potential goldmine for drug discoveries, and collaborators hope advancing the research will have wide applications in human health.

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Only a Few Days Left to Register for 2016 Top Tech Exec Awards

Tickets are going fast 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 the San Diego Business Journal.

Irvine’s Synoptek Opens New San Diego Location

Synoptek, an Irvine-based IT managed services provider and cloud solutions firm, announced it is expanding its presence in San Diego and opening a new office.

Novatel Wireless Inc. Posts Q1 Net Loss of $11.9 Million

Novatel Wireless Inc. reported a net loss of $11.9 million on total net revenues of $66.9 million in its first quarter.

Golden Hill Apartment Property Sells for $7.57 Million

An affiliate of Lake Forest-based Allen Properties has acquired an 18-unit apartment property in San Diego’s Golden Hill neighborhood for approximately $7.57 million, according to CoStar Group and public data.

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Report: Health Care Sector Remains Main Draw for VCs in First Quarter

Venture capital dipped slightly for San Diego companies, according to a first-quarter report from Cushman & Wakefield. The health care sectors, however, are still stealing the show.

San Marcos Nursing Facility Sold for $8 Million

An affiliate of Los Angeles-based The ARBA Group has purchased Village Square Nursing Center in San Marcos for $8 million, according to CoStar Group and public data.

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Uptick in Revenue for SeaWorld But Increase in Q1 Net Losses

TOURISM: Theme Park Continues Transition With Revised Expansion Plans

SeaWorld Entertainment Inc. posted total revenue of $220.2 million in its first quarter ending March 31, up slightly from $214.6 million in the year-ago period, the parent company of SeaWorld San Diego reported.

TearLab, Sophiris Bio Turn Their Attention to Raising Cash

San Diego’s biotech community was teeming with activity last week as corporations raised cash and made other strides toward getting products to market.

Sunday, May 15

Completion Nears on $59.6M Upgrade of Rancho Bernardo Office Campus

A June completion is expected for a multiphase, $59.6 million renovation of The Summit Rancho Bernardo office campus in San Diego, according to general contractor Level 10 Construction.

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TP Therapeutics Moves to New Facility

TP Therapeutics Inc., a small pharmaceutical company that just raised $18 million, is moving to a new facility in Torrey Ridge Science Center.

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The Business Calendar for the Week of May 16, 2016

Some of the business events scheduled in the county for the week of May 16, 2016, and beyond.

Q1 Revenue Is Up for Imprimis Pharmaceuticals

San Diego’s Imprimis Pharmaceuticals, a maker of compounded drugs, reported a big jump in revenue for the first quarter of 2016.

Partnership Buys Mission Valley Residential Land for $31M

A venture that includes affiliates of New York- based JEN Partners LLC and Costa Mesa’s Armada Real Estate Group LLC has acquired 8.78 acres of residential land in Mission Valley for $31 million, according to CoStar Group and public data.

Callaway Golf Announces Dividend; Shareholders Approve Slate of Directors

Carlsbad-based Callaway Golf Co. announced a 1 cent per share dividend, payable June 15 to shareholders of record on May 25.

Bilodeau Joins Board of Maxwell Technologies

San Diego-based Maxwell Technologies Inc., an industrial scale energy storage device firm, announced May 12 the addition of Steve Bilodeau to its board of directors as a new independent director.

Friday, May 13

Imprimis Pharmaceuticals Reports Q1 Earnings

San Diego’s Imprimis Pharmaceuticals, a maker of compounded drugs, reported a big jump in revenue for the first quarter of 2016.

TP Therapeutics Inc. Moves to New Facility

TP Therapeutics Inc., a small pharmaceutical company that just raised $18 million, is moving to a new facility in Torrey Ridge Science Center.

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Business Calendar for Week of May 16, 2016

Some of the business events scheduled in the county for the week of May 16, 2016, and beyond.

Partnership Pays $31M for Mission Valley Residential Land

A venture that includes affiliates of New York- based JEN Partners LLC and Costa Mesa’s Armada Real Estate Group LLC has acquired 8.78 acres of residential land in Mission Valley for $31 million, according to CoStar Group and public data.

Completion Nears on $59.6 Million Upgrade of Rancho Bernardo Office Campus

A June completion is expected for a multiphase, $59.6 million renovation of The Summit Rancho Bernardo office campus in San Diego, according to general contractor Level 10 Construction.

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Thursday, May 12

Kratos Promotes Maria Cervantes de Burgreen as Corporate Controller, Principal Accounting Officer

Kratos Defense & Security Solutions Inc. said May 12 that it promoted Maria Cervantes de Burgreen to the post of vice president, corporate controller and principal accounting officer.

Sophiris Bio Hires Financial Advisor to Review Strategic Alternatives

Sophiris Bio has hired Oppenheimer & Co. Inc. as its financial advisor to help the company boost shareholder value, the company said Thursday. The announcement comes days after the company said it would offer $5 million of its common stock to the public.

Escondido Apartment Property Sells for $8 Million

San Francisco-based Vista International Inc. has acquired a 56-unit apartment property in Escondido for $8 million, according to brokerage firm Berkadia and CoStar Group.

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Land Parcels Near Airport Sold for $2.5 Million

A Las Vegas buyer, listed as California & Bean LLC, has purchased three industrial land parcels near San Diego International Airport for $2.5 million, according to CoStar Group and brokerage firm CBRE Group Inc.

Donald Knauss Named Chairman of USD Board

The University of San Diego board has named Donald R. Knauss as its new chairman, effective July 1. Knauss will succeed Ron Fowler, who is stepping down from the chairman’s post.

IBM, UCLA Form Partnerships With S.D Firms

Two firms in San Diego County announced partnerships Thursday, one with tech giant IBM and the other with the University of California, Los Angeles.

Luna Grill Plans Two New Restaurant Openings

San Diego-headquartered Premier Food Concepts LLC, which operates the Luna Grill chain of fast-casual Mediterranean-style restaurants, plans to open new locations in Pacific Highlands Ranch and Mira Mesa, bringing its companywide total to 24.

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Efforts Help Cancer Patients Get Lifesaving Lifts to Treatment

Jewish Family Service of San Diego has been awarded a $5,000 grant from the San Diego Professionals Against Cancer, a group of volunteers dedicated to raising money to support local nonprofits fighting cancer. The money will be used to support breast cancer patients.

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Local Companies Are Offering a New Kind of Connectedness

MEDTECH: Devices Aim to Provide Seniors With Low-Cost Care

As aging baby boomers strain traditional health care resources, some local companies are taking the growing senior health technology space in a new direction: Treat at home, monitor at home, thrive at home.

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A Burgeoning Ecosystem for Life Sciences

Strategies for High-Growth Companies

San Diego is home to an incredible intersection of technology and science, which has produced a growing local economy of research, advanced wireless communication, medical devices, genomics and more.

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A Cool Innovation

ScaleMatrix Offers To Put Its Highly Efficient Data Center Technology On-Site

Executives at ScaleMatrix think there might be more than one path to growing their company.

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Expanding The Business Universe

The Computer Revolution Keeps Reinventing Itself As the Possibilities of Progress Continue to Increase

With each passing year, computers get more capable. The rapid development of the technology continues to shape business — all business, even those far from the heart of the technology sector.

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Family Grading Business Paved Way for Opportunities

BUILDING: Company Expands as Members Build Its Reputation

The family business was it for Cliff Smith Jr. and Steve Groves growing up. By ages 8 and 13, respectively, the brothers worked with their father, Cliff Smith Sr., at his self-titled Cliff Smith Equipment Rentals within their neighborhood and on construction sites.

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Drone Technology Gives Farmers A More Precise ‘Field of Vision’

SOFTWARE: Sensors Used to Identify Various Problems in Crops

Drones can’t deliver your supper — not in U.S. airspace — but they have already worked their way into the food chain.

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Global Pharma Firms Both Take And Give

BIOTECH: Cos. Swallow Up Startups But Grow Presence

The growing presence of Big Pharma and global life science firms in San Diego has been at the heart of an age-old debate: do they help or hurt the region’s economy?

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Building Plans Don’t Look Good on Paper

CONSTRUCTION: Industry Sees Benefit in Electronic Copies

Paper plans and blueprints are becoming a thing of the past. With technology and new software, construction companies are finding a new way of doing business, one that results in fewer errors, greater collaboration and less cost.

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Stone to Be the Rock For Small Brewers

BREWING: True Craft Aims to Fund Independence

rgest craft brewer — and with new production ramping up this summer in Richmond, Va., and Berlin, Germany — Stone Brewing Co. CEO Greg Koch appears to be doubling down on his role as outspoken defender of smaller beer makers.

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Appetite For Algae

ENERGY: Sapphire Pivots From Biofuels to Supplements

Sapphire Energy Inc., once a promising player in the biofuel industry, has officially dropped clean energy from its pipeline and shifted focus to the more profitable vitamin supplement market.

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Wednesday, May 11

Jack in the Box Reports Better-Than-Expected Q2 Earnings

Shares of Jack in the Box Inc. rose more than 10 percent to touch $71.99 in after-hours trading May 11 after the quick-service eatery chain reported second quarter earnings.

Former Daily Transcript Building Sold for $5.3 Million

San Diego-based SDPB Holdings LLC, with Michael Donovan as its manager, has purchased the Bankers Hill property that formerly housed the San Diego Daily Transcript newspaper for $5.3 million, according to brokerage firm Colliers International Group Inc.

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Vanguard Space Technologies Acquired By Albuquerque Company

Albuquerque, N.M.-based SolAero Technologies Corp. said May 11 that it has acquired Miramar-based Vanguard Space Technologies Inc., a builder of satellite components, for undisclosed terms. The seller was Enlightenment Capital.

Turtle Beach Corp.’s Headsets Drive Q1 Earnings

Turtle Beach Corp., a San Diego-based video game headset maker, reported net revenue of $24 million in the first quarter of 2016, up 22 percent from the same time last year, much of which the company attributes to headset sales.

Pacific Beach Apartments Sold for $2.5 Million

San Diego-based Haines Properties LLC has acquired an eight-unit apartment building in Pacific Beach for $2.5 million, according to brokerage firm Apartment Realty Group (ARG).

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Trovagene, Viking Therapeutics Report Q1 Earnings

Two San Diego life science companies reported earnings Tuesday afternoon, one missing Wall Street expectations and the other beating predictions.

Halvorson Out as CFO at OneRoof Energy Inc.

The chief financial officer of OneRoof Energy Inc., Dan Halvorson, has abruptly resigned “to pursue other opportunities,” the company announced Wednesday.

New Condos Planned after $2.8 Million Land Buy in Hillcrest

Alliance Development Services of Poway has purchased two land parcels in San Diego’s Hillcrest neighborhood for $2.8 million, with plans to build 18 residential condominium units, according to brokerage firm Land Advisors Organization.

Affiliate of Insurer Zurich Buys Eastlake Retail Center for $51 Million

New York City-based Zurich Alternative Asset Management LLC has acquired The Marketplace at Windingpark retail center in Chula Vista’s Eastlake neighborhood for $51 million, according to real estate services firm Newmark Grubb Knight Frank (NGKF).

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Tuesday, May 10

Developers Get Financing, Start Construction on InterContinental Hotel

Developers of a new 400-room InterContinental Hotel, planned for the $217 million second phase of development at the former Lane Field in downtown San Diego, have obtained construction financing for the project. Construction was scheduled to begin May 10, with completion slated for September 2018.

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DJO Reports $278.9 Million in Net Sales for Q1

DJO Global Inc., a medical device company based in Vista, announced its first quarter results, ending April 1.

Jean-Claude Kyrillos Appointed VP of Business Operations at Qualcomm Life

Qualcomm Life, a subsidiary of Qualcomm Inc., named Jean-Claude Kyrillos as vice president of business operations, the company announced May 10. Kyrillos will report to Rick Valencia, senior vice president and general manager of Qualcomm Life.

Office Building Housing Charter School Sells for $4.8 Million

Brea-based Yongzhi (USA) Asset Management Co. has acquired a Kearny Mesa office building, housing Coleman Tech Charter High School, for $4.8 million, according to Voit Real Estate Services.

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Electrical Supplies Distributor Leases Full Building in Miramar

Electrical supply and equipment provider Consolidated Electrical Distributors Inc., known locally as CED Greentech, has fully leased a Miramar industrial building in a five-year deal valued at approximately $5.7 million, according to brokerage firm Lee & Associates.

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General Dynamics NASSCO Christens Tanker

General Dynamics NASSCO christened the tanker Garden State on May 7 in an event that featured the 610-foot-long vessel sliding down the shipyard’s inclined ways, into San Diego Bay.

Amit D. Munshi Chosen to Lead Arena Pharmaceuticals

Ending a months-long search for a new chief executive, San Diego’s Arena Pharmaceuticals Inc. announced Tuesday that it has appointed Amit D. Munshi as president, CEO, and interim principal financial officer.

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CIM Inc. Opens Houston Office

La Jolla-based Cornerstone Integrated Marketing (CIM) Inc., a luxury hospitality and lifestyle public relations and marketing agency, announced the opening of its Houston office.

Otonomy Inc. Reports Q1 Earnings, Gives Corporate Update

San Diego drugmaker Otonomy Inc. reported financial earnings and a corporate update Monday.

Monday, May 9

Apricus Biosciences Releases First Quarter Results

San Diego-based biopharmaceutical company Apricus Biosciences Inc. reported total revenue of $626,000 for the first quarter of 2016, with a net loss of $2.5 million.

MWH Announces New Global Dams Practice Leader

MWH Global, an engineering, consulting and construction firm, announced that San Diego-based Michael Rogers will be its new global dams practice leader.

MaxLinear Acquires Broadcom Assets for $80 Million

MaxLinear Inc. said May 9 that it agreed to buy the wireless infrastructure backhaul business from Broadcom Corp. for $80 million in cash.

Royale Energy Inc. Posts Q1 Net Loss of $624,000

Royale Energy Inc., the oil and gas producer based in El Cajon, reported a first quarter net loss of $624,000 on revenue of $287,000.

Cubic Global Defense to Share $200 Million Contract

Cubic Global Defense, a business unit of Cubic Corp., announced it is part of the Warfighter Readiness Research Division Contractor Team awarded a five-year, cost-plus-fixed-fee $200 million contract by the U.S. Air Force Research Laboratory for research and evaluation of warfighter readiness and training.

Silvergate Bank Reports Q1 Net Income of $1.9 Million

La Jolla-based Silvergate Bank reported that its net income had increased to $1.9 million in the first quarter.

Shares of Sophiris Bio Inc. Slip

Shares of Sophiris Bio Inc. are down over 18 percent Monday after the La Jolla firm announced plans to sell shares in the company at $1.40 per share to raise about $5 million.

Sorrento Therapeutics Hires Advisors to Evaluate 'Potential Alternatives'

San Diego’s biopharmaceutical firm Sorrento Therapeutics Inc. has hired advisors to help the company come up with strategies to boost shareholder value, the company said in a news release. The announcement comes shortly after a minority shareholder publicly expressed dissatisfaction with the company’s management.

Sunday, May 8

Qualcomm Ventures Participates In Series C Funding of 360fly Inc.

Qualcomm Ventures contributed an undisclosed amount to the to the $40 million series C funding round of 360fly Inc. — an Orange County company producing a single-lens camera that takes 360-degree video.

Biosortia Pharmaceuticals Launches 3 Oncology Research Projects

Biosortia Pharmaceuticals Inc., a biopharma company that recently moved to San Diego from Ohio, has launched three new oncology research projects.

SeaWorld Entertainment Posts Revenue Increase, Net Loss in First Quarter

SeaWorld Entertainment Inc. posted total revenue of $220.2 million in its first quarter ending March 31, up slightly from $214.6 million in the year-ago period, the parent company of SeaWorld San Diego reported.

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Movie and Restaurant Complex Opens at Liberty Station

San Diego-based Boffo Cinemas LLC has opened The Lot Liberty Station, which includes a restaurant and six-screen movie theater, at the mixed-use Liberty Station in Point Loma.

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Deadline Extended for SDBJ's Fastest Growing Private Companies List

Each year, the San Diego Business Journal researches and publishes the list of the 100 Fastest Growing Private Companies in San Diego County.

The Business Events Calendar for the Week of May 9, 2016

Some of the business events planned in the county for the week of May 9, 2016, and beyond.

Allegiant Begins Its Flights Between San Diego and El Paso

Las Vegas-based discount airline Allegiant has launched its previously announced new nonstop service between San Diego International and El Paso, Texas.

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Tour of California Cycling Event to Start in San Diego

The Tour of California, a cycling event covering almost 800 miles of California terrain, will start in San Diego May 15.

Kratos Receives $8 Million Foreign Military Contract

Kratos Defense & Security Solutions Inc. said on May 5 that it received an $8 million contract to provide logistics support for naval training devices for an unnamed international customer.

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PriceSmart April Sales Increase 9.2%

PriceSmart Inc. reported May 6 its net sales rose 9.2 percent for April to $226.6 million. The company reported $207.5 million in sales April of 2015.

Friday, May 6

Biosortia Pharmaceuticals Inc. Launches 3 Oncology Research Projects

Biosortia Pharmaceuticals Inc., a biopharma company that recently moved to San Diego from Ohio, has launched three new oncology research projects.

SeaWorld Entertainment Inc. Posts Revenue Increase, Net Loss in First Quarter

SeaWorld Entertainment Inc. posted total revenue of $220.2 million in its first quarter ending March 31, up slightly from $214.6 million in the year-ago period, the parent company of SeaWorld San Diego reported.

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Qualcomm Ventures Participates In Series C Funding of 360fly

Qualcomm Ventures contributed an undisclosed amount to the to the $40 million series C funding round of 360fly Inc. — an Orange County company producing a single-lens camera that takes 360-degree video.

Business Events Calendar for the Week of May 9, 2016

Some of the business events planned in the county for the week of May 9, 2016, and beyond.

Restaurant and Movie Complex Opens at Liberty Station

San Diego-based Boffo Cinemas LLC has opened The Lot Liberty Station, which includes a restaurant and six-screen movie theater, at the mixed-use Liberty Station in Point Loma.

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Allegiant Begins Flights Between San Diego and El Paso

Las Vegas-based discount airline Allegiant has launched its previously announced new non-stop service between San Diego International and El Paso, Texas.

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Thursday, May 5

Kratos Defense Cites Q1 $22.2M Net Loss on Revenues of $153M

Kratos Defense & Security Solutions Inc. reported a net loss of $22.2 million, or 37 cents per share, on revenues of $153 million in its first quarter, which ended March 27.

Tourism Authority Cites Competition, Urges Continued TMD Funding

Tourism leaders continued to warn against proposed ballot measures aimed at redirecting tourism marketing funds toward a potential downtown hybrid stadium with convention space, at the annual meeting of the San Diego Tourism Authority.

TaylorMade-Adidas Golf to be Sold by Adidas Group

Adidas Group announced that it will look for a buyer for local golf equipment brand, TaylorMade-adidas Golf.

Drizly Launches Alcohol Delivery Service in San Diego

Drizly, a technology company that provides an on-demand alcohol delivery service, announced its launch in San Diego May 5.

Westcore Acquires Commercial Buildings in U.K., Seattle

Westcore Europe, an affiliate of San Diego-based Westcore Properties, has acquired an office building in the United Kingdom for approximately $19.6 million in U.S. dollars.

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InfoSonics Corp. Reports Q1 Net Loss of $903K on Net Sales of $9.4 Million

InfoSonics Corp., the University City maker of smartphones and tablets, reported a net loss of $903,000 on net sales of $9.4 million in its first quarter of 2016. The loss amounted to 6 cents per diluted share.

Drugmakers Mirati, Neurocrine Report Q1 Earnings

Two San Diego drugmakers reported financial earnings Thursday.

Scripps Ranch Office Building Sells for $17.8 Million

An affiliate of San Francisco-based Graymark Capital has purchased a Scripps Ranch office property for approximately $17.8 million, according to CoStar Group and public data.

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Passing TPP Will Bring More Jobs to San Diego

Since the days of our Founding Fathers, trade has been vital to the strength of the American economy and American families. Trade has also been a source of influence in America’s positioning on the world stage.

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Event Raises Money, Awareness on Latest Breast Cancer Therapies

More than 300 guests were in attendance at Susan G. Komen San Diego’s “Screens, Genes & The Choices We Make: A Conversation on Research, Treatment and Lifestyle’’ annual dinner symposium.

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Will Wonder Bread Building Be Sandwiched Into Convadium?

The historic Wonder Bread building has now survived for nearly a century in East Village, but the proposed “convadium” project put forward by the San Diego Chargers could put its future in doubt.

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Good Views

Local Real Estate Experts See Strong Demand and Low Vacancy Rates Pushing Up Commercial Rents

As nearly 40,000 new positions were created regionwide during the past year, job growth continued to fill San Diego County’s office, industrial and retail buildings during the first quarter of 2016.

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Paying The Price

Low Vacancy Rates and High Demand Are Pushing Apartment Rents Higher, And the Trend May Continue

Arecent report on rising rents, by the Lusk Center for Real Estate at the University of Southern California, painted a clear good news/bad news picture of San Diego County’s apartment property market so far in 2016.

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Luxury Still Has the Leading Role in Lush Fairbanks Ranch

Fairbanks Ranch in Rancho Santa Fe occupies the land that was once an 800-acre working dairy and citrus ranch owned by the 1920s “Hollywood Royalty” couple Douglas Fairbanks and Mary Pickford. Now, Fairbanks Ranch is an exclusive gated community of 618 homes with miles of jogging and walking trails, a lake, tennis courts and more than 40 acres of open space for recreation.

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Intellectual Property Prowess Is the Backbone of New Firm

Brenda Wallach has launched her own patent/consulting legal firm. Wallach is a former Sapphire Energy Inc. attorney, from 2009 to 2014. She also spent more than a decade at law firms Cooley LLP and Morrison Foerster LLP. Her company, Wallach IP Management and Consulting, can help clients search for prior art, prepare patent applications and work with the U.S. Patent and Trademark Office. She specializes in biotech, pharmaceuticals and medical devices.

Linda Vista Health Center Expands to Meet Community Needs

A nonprofit community clinic has more than doubled its footprint in Linda Vista following a surge of newly-insured patients. Linda Vista Health Center, part of a seven-clinic umbrella corporation called San Diego Family Care, has added 23,000 square feet to its existing space in a $2.7 million expansion to accommodate the need.

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If You’re Looking to Experiment in Space, Your Ship Is In

RESEARCH: CASIS Rep To Be Stationed in S.D. To Facilitate the Process

An organization with ties to NASA that oversees private research on the International Space Station is raising its profile among the local research community. The Florida-based Center for the Advancement of Science in Space — called CASIS for short — plans to station a representative in San Diego.

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Navy’s Unmanned Ship to Be Put to the Test in Point Loma

It’s an unmanned machine made of carbon fiber, one that can stay on station for ridiculously long periods of time. Nothing new for San Diego, right? Except this one is 132 feet long and doesn’t fly. It floats.

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Marketing Moves Put Co.’s Sunglasses On Some Familiar Faces

RETAIL: Knockaround’s Style Options, Online Sales Click With Its Demographic

When Matthew McConaughey was seen wearing Knockaround sunglasses while playing football with Brad Pitt across their balconies, Adam “Ace” Moyer knew he’d made it, or at least found his start.

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FitPod Changes the Mix for Your Workout Water Bottle

RETAIL: Product Makes Infusing Supplements A Simpler, Cleaner Task

A product as simple as the plastic water bottle may seem beyond innovative overhaul, but startup founder Joshua Hall has nearly 1,000 customers who say otherwise.

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Tourism Sector Sees Cons in Convadium

TOURISM: Leaders See Plans Ignoring Impact on Visitors

In a sign that battle lines are hardening, tourism and hospitality leaders are warning that plans to hike the city’s hotel taxes, potentially to build a $1.8 billion hybrid downtown San Diego Chargers stadium and convention center, could jeopardize the region’s competitive standing and ability to attract large conventions, costing millions of dollars in economic impact.

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New ‘Downtown’ Takes Shape in San Marcos

DEVELOPMENT: It Aims for Mixed-Use Community Hub

Pieces are gradually falling into place for a mixed-use, 200-acre “University District” long envisioned by the city of San Marcos, which in coming years could also become what developers have billed as “North County’s Downtown.”

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Can-Do Attitude Sells Coconut Water

RETAIL: High Volume and Low Pricing Create Opening

Three surfers went to lunch, put together a business name, designed their business cards and then knocked on the doors of national retailers asking them to carry their new product.

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Birth of a Blockbuster?

PHARMA: Acadia Prepares To Launch Drug to Treat Parkinson’s Psychosis

Acadia Pharmaceuticals Inc. has earned the greenlight from regulators to sell a valuable antipsychotic drug. The medication, potentially worth billions, quells the hallucinations and delusions experienced by Parkinson’s disease patients. And it’s the first of its kind.

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Wednesday, May 4

Qualcomm's Executive Chairman Joins Board of Dropbox

Paul Jacobs has joined the board of Dropbox, the San Francisco file hosting service announced in a blog post on May 2.

Holiday Bowl, Poinsettia Bowl Dates Set

Officials with the San Diego Bowl Games announced the dates for the Holiday Bowl and Poinsettia Bowl for Dec. 27 and Dec. 21, respectively.

Raphael’s Party Rentals Outfits Warehouse With 560 Solar Panels

Raphael’s Party Rentals, a local full-service, event rental company, has completely fitted its warehouse with 560 solar panels.

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Restored Park Opens at Downtown’s Horton Plaza

Officials of the city and Westfield Corp. officially opened the new Horton Plaza Park in downtown San Diego, debuting with a public ceremony following a $17 million redevelopment of the 1.4-acre property next-door to the Westfield Horton Plaza mall.

Stocks Down For 3 Life Science Firms After Earnings Reports

Three public life science firms in San Diego are suffering stock slips after reporting first quarter earnings Wednesday. Two of the firms missed analyst expectations and one exceeded Wall Street’s forecast, but barely.

Sempra Energy Posts Q1 Earnings, Updates Cost of Gas Leak

Sempra Energy — parent company to San Diego Gas & Electric Co. and Southern California Gas Co. — reported first quarter earnings of $319 million, or $1.27 per share of common stock, on revenue of $2.62 billion. The company made the announcement May 4.

Stone Brewing Initiates $100 Million Craft Beer Investment Company

Stone Brewing Co. CEO Greg Koch has announced the formation of True Craft, a $100 million company geared toward investing in smaller craft breweries to help them remain independent.

Tuesday, May 3

Ballast Point Takes Overseas Delivery of Large New Storage Tanks

The Port of San Diego recently received a shipment of four 24-ton fermentation and storage tanks bound for Ballast Point Brewing & Spirits, as the brewer expands production at its main facility in Miramar.

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Ionis Sells Drug Rights to Kynamro in Deal Potentially Worth More Than $95M

In a deal worth up to $95 million-plus, San Diego drugmaker Ionis Pharmaceuticals sold global rights to develop and commercialize its marketed drug Kynamro to Chicago-based Kastle Therapeutics.

Illumina's Revenue Fails to Match Forecasts for Q1

San Diego’s Illumina Inc. reported quarterly earnings May 3, falling short of analyst expectations and further slipping the company’s stock.

Sudberry Properties Breaking Ground on Imperial Beach Retail Center

Developer Sudberry Properties plans a May 5 ground-breaking for Breakwater Town Center, a new shopping center and community hub in Imperial Beach.

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Bridgepoint Education Reports Q1 Results

Bridgepoint Education, a local provider of postsecondary education services, reported May 3 its results for the first quarter of 2016, ending on March 31, with revenue down from $142.5 million in 2015 to $133 million in 2016.

Mitek Systems Inc. Reports Q2 Revenue of $8.5 Million

Kearny Mesa-based Mitek Systems Inc. reported net income of $600,000, or 2 cents per diluted share, on revenue of $8.5 million in its second quarter of fiscal 2016, which ended March 31.

Eureka! Restaurant Joins Lineup at SDSU Mixed-Use Plaza

San Diego State University has signed the restaurant chain Eureka! as the latest new tenant at its mixed-use South Campus Plaza, currently under construction.

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Indus Navy Deal Could Be Worth $2.92M to Contractors

Indus Technology Inc. said on May 3 that it is leading a team that received a U.S. Navy contract that could we worth up to $2.92 million over five years, if the Navy exercises all of its options.

Monday, May 2

Dexcom Inc. Acquires European Distribution Partner Nintamed

Dexcom Inc., one of San Diego’s biggest public medical technology firms, announced May 2 that it will acquire Nintamed, a distribution partner with presence in Germany, Switzerland and Austria.

Cubic Reports Sales of $366 Million for Q2

Cubic Corp., the defense contractor that also makes fare-collection technology for mass transit, reported net income of $10.1 million, or 38 cents per diluted share, on sales of $366 million for the second quarter of its 2016 fiscal year.

Philanthropists Donate $11.8 million to UC San Diego to Launch Geriatric Emergency Care Unit

Local philanthropists Gary and Mary West have provided $11.8 million to the University of California, San Diego to create a senior emergency care unit at the future Jacobs Medical Center.

MedOptions To Acquire San Diego-Based Vericare

MedOptions announced a definitive agreement to acquire San Diego’s Vericare, a behavioral health clinical care provider.

Wisconsin-Based Wonderist Agency Expands Into San Diego

Wisconsin-based Wonderist Agency recently announced the opening of its new office in Point Loma.

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Petherbridge Named President and CEO of Excel Trust

San Diego-headquartered Excel Trust has appointed Luke J. Petherbridge as chief executive officer and president.

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Charter School Buys La Mesa Retail Property for $2.1 Million

Student Success Programs, a local charter school, has acquired a La Mesa retail property for approximately $2.1 million, with plans to set up school operations, according to brokerage firm Lee & Associates.

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Sunday, May 1

Biocept 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.

Slight Increase Boosts a Strong Local Economic Index

The University of San Diego’s economic index rose 0.4 percent in March to a level not seen since the exuberant days of 2005-2007.

The Business Calendar for the Week of May 2, 2016

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

Startup MyDx 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.

Otay Mesa 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.

San Diego Apartment Property Sells for $3.6 Million

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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Gas Station with Retail Planned after $3M 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.

Davis Named Vice President GM for KGTV

KGTV 10News announced Joel Davis as the new vice president and general manager for KGTV 10News, the ABC affiliate in San Diego.

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