Stories for September 2016

Friday, September 30

Business Calendar for Week of October 3, 2016

Some of the business events scheduled in the county for the week of October 3, 2016, and beyond.

Downtown Partnership Board Supports Chargers’ Ballot Measure

The Downtown San Diego Partnership announced Sept. 30 that its board of directors has voted to support the San Diego Chargers’ Measure C, which calls for a hotel tax hike to finance a proposed new stadium with convention facilities in East Village.

JMI Equity Invests $55 Million in Higher Logic

JMI Equity, a growth equity firm with offices in San Diego and in Baltimore, has invested $55 million in Higher Logic, a Washington, D.C.-based company that provides cloud-based community platforms.

Senomyx Inc. Extends Collaboration With PepsiCo

Senomyx Inc., a local biotech that makes flavor enhancers, has extended its collaboration with PepsiCo.

Contractor Completes $7M Renovation of U.S. Immigration Services Office

San Diego-based general contractor Pacific Building Group recently completed a $7 million tenant improvement project for the downtown office of the U.S. Citizenship and Immigration Services department, which is part of the federal Department of Homeland Security.

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First U.S. Flagship Showroom for Italian Kitchen Cabinet Maker Aran Cucine Opens in Solana Beach

Aran Cucine, one of the largest Italian kitchen cabinet makers, now has its first flagship showroom in the U.S. at a Solana Beach location.

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SeaWorld San Diego Parent Investing $175 Million in U.S. Theme Parks

SeaWorld Entertainment Inc. plans to invest $175 million in new shows and attractions nationwide in 2017, including its new Orca Encounter at SeaWorld San Diego. Officials said the investment will be among the biggest one-year capital-spending tallies in the theme park operator’s five-decade history.

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San Diego Airport Passenger Traffic Rose 2.1% in August

August passenger traffic rose 2.1 percent from a year ago at San Diego International Airport, with the facility handling more than 1.9 million arriving and departing travelers during the month.

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S.D.’s Construction Starts Rose 28 Percent in First 8 Months

The value of San Diego County’s construction starts rose 28 percent from a year ago in the first eight months of 2016, topping $2.86 billion, according to the latest monthly figures from Dodge Data & Analytics.

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CDC Small Business Finance to Receive Grant From MUFG Union Bank Foundation

CDC Small Business Finance, the San Diego-based not-for-profit lender, has received a $150,000 grant from the MUFG Union Bank Foundation to provide advising services to small businesses.

PSAR CEO Will Also Lead North San Diego County Association of Realtors

Following an agreement struck earlier this year by two San Diego-area Realtor trade groups to share resources, the CEO of the smaller of the two organizations has been tapped to head up both starting Oct. 1.

Qualcomm Joins Several Other Companies to Form 5G Automotive Association

Qualcomm Inc. has joined several global wireless companies and German auto industry players in what the partners are calling the 5G Automotive Association.

Thursday, September 29

Franklin Wireless Corp. Reports Net Sales of $59.8 Million For 2016

Franklin Wireless Corp. — a Mira Mesa business that produces wireless modems, routers and hotspots — finished its 2016 fiscal year with net income of $1.61 million on net sales of $59.8 million. The company reported results Sept. 28.

Grocer Sprouts Signs Lease for New Store in Clairemont

Sprouts Farmers Market has leased 32,688 square feet in San Diego’s Clairemont neighborhood, with plans to open a new store in fall 2017, CoStar Group reported.

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Sempra's Mexican Subsidiary Secures Rights to Two Solar Projects

Sempra Energy’s Mexican subsidiary, Infraestructura Energética Nova S.A.B de C.V., prevailed in a recent auction to secure rights to two solar energy projects totaling 141 megawatts-ac.

Sirenas LLC Wins $775,000 Grant From Bill & Melinda Gates Foundation

Biotech upstart Sirenas LLC has landed a $775,000 grant from the Bill & Melinda Gates Foundation to discover potential therapies to treat neglected diseases.

Ranking Finds S.D. Beats Competitors on Parks, Bicycles, Weather

San Diego outranks many of its competitor cities in “livability” measures such as parks and bicycle infrastructure and weather, but lags in areas including joblessness and poverty, according to a report released Sept. 29 by the San Diego Regional Chamber of Commerce.

California Association of Realtors Offers Predictions for 2017 Housing Market

Despite a shortage of homes for sale and mounting affordability concerns, California’s housing market will rebound slightly from 2016’s dip in sales activity to post a nominal increase in volume next year, the California Association of Realtors predicted in a report issued Sept. 29.

Qualcomm Looking to Acquire NXP Semiconductors NV For $30B

Qualcomm Inc. is reportedly in talks to acquire NXP Semiconductors NV in a deal that could be worth more than $30 billion. The Wall Street Journal made the assertion in a Sept. 29 report, citing unnamed sources.

Why San Diegans Must Invest in Delta Solutions

Although we have made impressive investments to develop local water supplies, most of San Diego’s water continues to come from far away. In fact, more than 80 percent of our county’s water supply is imported from Northern California and the Colorado River.

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California Life Science Association Opens New LA Office

BIOTECH: It Will Partner to Promote, Enhance Sector in LA

Local trade group California Life Science Association is expanding its footprint to Los Angeles, with a new LA office and partnerships with LA BioMed and Lab Launch.

VC Podcast Has Local Focus

Neal Bloom, an organizer of San Diego Startup Week (and the guy who knows everybody in S.D.’s local tech sector), has launched a new podcast for entrepreneurs and investors.

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Know the Rules of The VC Funding Road

Terry Moore is one of the few venture capitalists in San Diego who’s stuck around for the region’s ups and downs. Now, as the region is primed for an uptick in startup activity, he’s upping his fund by tens of millions of dollars.

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Wires Are Unusual Twist to Project AirGig’s Wireless Service

AT&T Inc. says that it has been experimenting with a way to deliver very fast wireless service with the help of common, garden-variety power lines.

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Financial Executives Make Successful Fundraising Drives

San Diego-based USE Credit Union executives Jim Harris, Ken Kramer, Matt Adams and Josh Lawrence came in second at the Richard Myles Johnson Foundation/CUNA Mutual Golf Tournament held recently in Newport Beach.

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Home of The Month - Sculpted Beauty

Designed by acclaimed San Diego-based master architect Jonathan Segal, this stunning oceanfront home sits atop a 20-foot-high bluff in Bird Rock. Built 13 feet deep into the ground, the four-story home is constructed of solid steel and walnut — ultra-modern, yet warm and light-filled. The four-story home’s floor-to-ceiling windows and multiple decks draw the dweller toward dramatic views of the Pacific Ocean. Four years in the making, the home is life in a one-of-a-kind modern sculpture.

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Meeting The Threat

Cybersecurity Experts Tell Businesses What Dangers Are Out There And How to Take the Target Off Their Backs

Yahoo, Target, Anthem, Home Depot, Sony, eBay, Staples, Kmart, P.F. Chang’s, the U.S. Postal Service, the White House, the Democratic National Committee. The list of companies, government agencies and groups that have been hacked grows longer every year.

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Developers Prepare to Proceed With Scripps Ranch Projects

DEVELOPMENT: R&D Campus, Mixed-Use Sites Still Need Some Approvals

Developers in the coming year could be putting long-dormant commercial projects into motion in San Diego’s Scripps Ranch neighborhood, as property owners respond to rising demand for office, industrial and retail amenities along the busy Interstate 15 corridor.

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Acquisition Gives PR Firm Stronger Footing in Fintech

FINANCE: KCD Public Relations Inc. Sees Growing Client Base as Disruptors Target Market

A Little Italy-based public relations firm has acquired a fintech-focused PR company as part of its shift toward working with more tech startups.

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Virtual Exercise System Must Find Its Own Legs in Market

HEALTH: Product Offers Needed Care, Monitoring, And at Home Access

As pre-marketing activity goes, things look great for digital health-care company Reflexion Health Inc.: Its virtual exercise system scored a competitive federal grant, $18 million in new financing and demonstration projects in two states.

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La Mesa Revs Up For Redevelopment

PROPERTY: Various Projects Add to Momentum for Change

With no major fanfare or grand-opening hoopla, home furnishings retailer Restoration Hardware Outlet opened for business in mid-September at the Grossmont Center mall in La Mesa, filling a 55,000-square-foot space vacated by the bankrupt sporting goods chain Sports Authority.

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New Standards for Civic S.D. Expected

POLITICS: Some See Lack of Oversight, City Ceding Control

After more than a year of discussions, San Diego officials are nearing agreement on standards expected to boost oversight and raise standards for the approval of projects currently overseen by Civic San Diego, the nonprofit that has the final say on many development projects downtown and elsewhere in the city.

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Community Ride

SPORT: Culture, Cos., And Competition Create A ‘Cycling Capitol’ in S.D.

How did San Diego come to be a cycling powerhouse with an economic drivetrain of $547 million?

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Report: Federal Government Examining Sale of Hotel del Coronado

The federal government is scrutinizing the proposed purchase of Hotel del Coronado by Chinese insurer Anbang Insurance Group Co., due to its proximity to a large U.S. Navy base, Bloomberg News reported.

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Wednesday, September 28

Local Firm Plans San Marcos Industrial Campus after $8M Land Buy

Encintas-headquartered RAF Pacifica Group has purchased a 15.65-acre property in San Marcos for $8 million, with plans to build a new four-building industrial campus.

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San Diego EDC Campaign Aims to Put Focus on Local Products

The San Diego Regional Economic Development Corp. unveiled a new campaign designed to raise awareness of locally made products.

State Regulators Reject SDG&E Appeal on Net Metering Costs

State regulators have rejected an appeal filed by San Diego Gas &Electric Co. and other investor-owned utilities regarding how much money should be credited to business and residential customers whose rooftop solar panels feed electricity into the state’s power grid.

New GM Named at San Diego’s Keating Hotel

The Keating Hotel, a 35-room boutique property in downtown San Diego’s Gaslamp Quarter, has named Adam Della Rocca as its new general manager.

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Tracon Pharmaceuticals Licenses Two Potential Cancer Therapies

Tracon Pharmaceuticals, a local public company, has licensed two potential cancer therapies from Johnson & Johnson’s Janssen Pharmaceuticals.

Buyer Acquires Two Downtown Properties for $13.7 Million

A local buyer recorded as 7th Avenue A Street Inc. has acquired two downtown San Diego properties in separate transactions for a total of $13.7 million, according to CoStar Group and public data.

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Studio 2055 Has a New Name: Comet Creative

Thirty years after its founding, Carlsbad-based marketing firm Studio 2055 has changed its name to Comet Creative.

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Kratos Receives $17 Million Contract

San Diego-based Kratos Defense & Security Solutions Inc. said that its Technology and Training Solutions unit received $17 million in contract awards. Kratos (Nasdaq: KTOS) did not name the client or clients and offered no contract details.

Tuesday, September 27

Petco CEO Jim Myers Announces Retirement; President Brad Weston Named Successor

Petco announced Tuesday that Chairman and CEO Jim Myers, who has headed the San Diego-based retail chain since 2004, is retiring.

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Northrop Grumman Corp. Awarded Two Navy Contracts Worth $350 Million

The U.S. Navy awarded Northrop Grumman Corp. two aircraft contracts worth $350 million over four years, announcing the deals on Sept. 27.

RippleNami Inc. Chosen for Seed Startup Accelerator Program

San Diego-based startup RippleNami Inc. announced it has been selected to participate in a seed startup accelerator program run by St. Louis, Missouri-based Capital Innovators.

U.S. HealthWorks Offers to Bring Flu Shots to Businesses

Starting Oct. 1, San Diego-area employers with 25 or more workers may schedule a visit from a U.S. HealthWorks clinician who can provide on-site flu vaccinations and educational information.

Like BIOCOM, California Life Sciences Association Extends Reach into L.A.

Local trade group California Life Sciences Association is expanding its footprint to Los Angeles, with a new L.A. office and partnerships with LA BioMed and Lab Launch.

Franz Och Leaves Human Longevity for Illumina's Grail

Franz Och, a former Google executive recruited in 2014 by J. Craig Venter’s Human Longevity, has left the firm for an opportunity with Illumina-backed Grail.

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Cowork Space Operator Level Office Acquires Downtown Office Building

Chicago-headquartered Level Office, which operates membership-based office and coworking spaces, has acquired a downtown San Diego office building, with plans for significant renovations.

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Fortis Therapeutics Raises $18 Million in Series A Round

San Diego life science upstart Fortis Therapeutics Inc. has closed an $18 million Series A round led by local venture capital firm Avalon Ventures.

Operators Debuting The Point Waterfront Workspace

Operators plan a Sept. 29 opening for The Point, a new waterfront workspace in Mission Bay providing off-site amenities for corporate meetings, retreats and other business functions.

Coworking Leader WeWork to Occupy Six Floors of Downtown Building

New York City-based WeWork announced Tuesday that it will open a 90,000-square-foot coworking facility in the heart of downtown San Diego.

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Monday, September 26

STR: Chargers Rank 28th in NFL for Local Hotel Revenue Net Impact

The San Diego Chargers ranked 28th out of 32 NFL teams for net impact on local hotel revenue during the 2015 season, according to the latest in a series of articles tracking the league’s impact on hotels by the research firm STR.

FDA Grants Orphan Drug Designation to Fate Therapeutics Product

Fate Therapeutics Inc.'s lead investigative product, ProTmune, has been granted Orphan Drug Designation by the U.S. Food and Drug Administration.

Downtown Apartment Tower’s Developer Gets $135M in Refinancing

The developer of the 484-unit Pinnacle on the Park, Phase 1, has obtained $135 million in refinancing for the apartment property in downtown San Diego, according to brokerage firm Kidder Mathews, which arranged the financing.

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National University, San Diego Co. Are Part of Telehealth Project

La Jolla-based National University announced it is collaborating with a pair of telehealth companies, including a locally based wireless device developer, to connect patients in Los Angeles County with nurse practitioners working remotely.

General Atomics Contracts With Lockheed Martin

General Atomics’ Electromagnetic Systems unit said it received a contract to provide battery systems to defense giant Lockheed Martin, which is building dry combat submersibles for the U.S. Special Operations Command.

Imprimis Pharmaceuticals Cuts Staff, Closes Texas Facility

San Diego’s Imprimis Pharmaceuticals, a maker of compounded drugs, is reducing its expenses in hopes of reaching near-term profitability, the company announced Monday.

Software Firm Certona Raises $30 Million in New Round

San Diego software writer Certona said it received $30 million in new investment.

Manufacturing Is Career Path Worth Pursuing

If you ask most students and parents about their thoughts on manufacturing, they will bring up archaic images of a lackluster industry, with assembly lines and low-skilled workers.

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Phil’s BBQ Serves BBBS and Community at Annual Barbecue

Phil’s BBQ Inc. and Big Brothers Big Sisters of San Diego County raised more than $80,000 with 2,652 attendees at the eighth annual Phil’s Big BBQ at the Ballpark. More than 100 Phil’s BBQ employees donated their time to set up and run the event at Petco Park.

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Neighborhood Gets Nightly Shows Starring S.D. Skyline

ings in life that are truly priceless — one’s health and family, certainly. But running a solid third would be the view of the San Diego skyline from First Street in Coronado.

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Outsource Aims to Make U.S. Manufacturing Work for Customers

PRODUCTION: Access To Facility, Savings on Shipping Are Pluses

Ted Fogliani wasn’t quite sure what to make of the animated Australian sitting in his office.

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Monument Co.’s Words Are Its Bonds to Customers

PRODUCTION: Artisans Engrave the Headstones; Internet Vies for Business

A visit to Carol Parker’s office and workshop seems like a trip back to the days before World War II. The neighborhood is old and her buildings date from the 1930s. Some of the furnishings and religious statuary seem equally old. However, the computer-aided design hardware and the many California employment posters on the walls show this manufacturing business is very much a part of the 21st century.

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Sharing The S.D. Airspace

Aerospace Cluster Gives Cos. More Resources, Bigger Talent Pool, and A Host of Opportunities

Carlsbad-based 5D Robotics Inc. learned the value of being located within an industry cluster a couple of years ago when, facing a two-week deadline on a land-mine-detection project for the U.S. Army, it suddenly discovered a $300,000 mechanical arm it had ordered from Germany wasn’t entirely reliable under adverse weather conditions.

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How to Connect With Investors

…off the beaten path tips from Cody Barbo, CEO and founder of tech startup Industry

A decade ago, introductions to investors would start with countless phone calls, emails or — in a perfect world — a mutual connection. Those elements are still important to landing big money, but today the whole process often starts on social media.

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Sunday, September 25

Two Local Realtors Fall Victim to a Different Kind of 'Identity Theft'

Two innocent San Diego Realtors have gotten caught up in an apparent venture capital scam exposed in an intriguing story published online at Fortune.com.

Allergan Acquires Akarna Therapeutics Inc. for $50 Million

Pharmaceutical giant Allergan Plc has acquired Akarna Therapeutics Inc. for $50 million.

Scripps Set to Open Barbey Family Emergency and Trauma Center on Sept. 26

Scripps Health unveiled a $33 million, 33,000-square-foot emergency and trauma center set to open Sept. 26 on the first floor of the Prebys Cardiovascular Institute on the campus of Scripps Memorial Hospital La Jolla.

Mission Valley Retail Center Sells for $14 Million

An affiliate of Los Angeles-based Gershman Properties LLC has purchased a Mission Valley strip retail center for $14 million, according to CoStar Group and public data.

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Rancho Bernardo Industrial Building Brings $7.4 Million

San Diego buyers recorded as McEwen-Otay LLC and MP McEwen I LLC have acquired a Rancho Bernardo industrial building for $7.4 million, according to brokerage firm Colliers International Group Inc.

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RAR Hospitality Adds New San Marcos Hotel to Portfolio

Hotel management and consulting firm RAR Hospitality Inc. has assumed management duties at the new 116-room Fairfield Inn & Suites in San Marcos, which is under construction and slated for a January 2017 opening.

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Apricus Biosciences Plans to Raise $4.6M in Direct Offering of Common Stock

San Diego biopharma Apricus Biosciences Inc. is expected to raise $4.6 million in a direct offering of its common stock to institutional investors, the company said Sept. 23.

The Business Calendar for the Week of September 26, 2016

Some of the business events planned in the county for the week of September 26, 2016, and beyond.

Del Taco Signs Franchisee for Five Upcoming San Diego Locations

Del Taco Restaurants Inc. has signed an agreement with Rancho Cucamonga-based franchisee Bajwa Group, which plans to open five new San Diego County locations by 2020. Financial terms were not disclosed, and locations have not been announced.

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Sempra Subsidiary Ienova Receives Official Clearance to Buy Interest in Mexican Company

Sempra Energy said Sept. 21 its Mexican subsidiary, Ienova, has received antitrust clearance to buy a 50 percent equity interest in pipeline builder and operator Gasoductos de Chihuahua.

San Diego Leads State in Pending Home Sales for August

The San Diego area led the state in pending home sales in August, the California Association of Realtors reported Sept. 22.

Oceanside Glasstile Acquires Spectrum Glass

Carlsbad-based manufacturer Oceanside Glasstile announced it has acquired certain assets of Spectrum Glass Co. Inc., an art glass maker based in Woodinville, Wash.

Friday, September 23

Scripps' Barbey Family Emergency and Trauma Center Set to Open Sept. 26

Scripps Health unveiled a $33 million, 33,000-square-foot emergency and trauma center set to open Sept. 26 on the first floor of the Prebys Cardiovascular Institute on the campus of Scripps Memorial Hospital La Jolla.

Rancho Bernardo Industrial Building Sold for $7.4 Million

San Diego buyers recorded as McEwen-Otay LLC and MP McEwen I LLC have acquired a Rancho Bernardo industrial building for $7.4 million, according to brokerage firm Colliers International Group Inc.

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Local Realtors Fall Victim to a Different Kind of 'Identity Theft'

Two innocent San Diego Realtors have gotten caught up in an apparent venture capital scam exposed in an intriguing story published online at Fortune.com.

Business Calendar for September 26, 2016

Some of the business events planned in the county for the week of September 26, 2016, and beyond.

Mission Valley Retail Center Sold for $14 Million

An affiliate of Los Angeles-based Gershman Properties LLC has purchased a Mission Valley strip retail center for $14 million, according to CoStar Group and public data.

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Oceanside Glasstile Acquires Spectrum Glass Co.

Carlsbad-based manufacturer Oceanside Glasstile announced it has acquired certain assets of Spectrum Glass Co. Inc., an art glass maker based in Woodinville, Wash.

Del Taco Restaurants Inc. Signs Franchisee for Five Upcoming San Diego Locations

Del Taco Restaurants Inc. has signed an agreement with Rancho Cucamonga-based franchisee Bajwa Group, which plans to open five new San Diego County locations by 2020. Financial terms were not disclosed, and locations have not been announced.

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Allergan Buys Akarna Therapeutics for $50M

Pharmaceutical giant Allergan Plc has acquired Akarna Therapeutics Inc. for $50 million.

Apricus Biosciences Inc. Plans to Raise $4.6M in Direct Offering of Common Stock

San Diego biopharma Apricus Biosciences Inc. is expected to raise $4.6 million in a direct offering of its common stock to institutional investors, the company said Sept. 23.

Sempra Subsidiary Ienova Given Official Clearance to Buy Interest in Mexican Company

Sempra Energy said Sept. 21 its Mexican subsidiary, Ienova, has received antitrust clearance to buy a 50 percent equity interest in pipeline builder and operator Gasoductos de Chihuahua.

RAR Hospitality Adds New San Marcos Hotel to Its Portfolio

Hotel management and consulting firm RAR Hospitality Inc. has assumed management duties at the new 116-room Fairfield Inn & Suites in San Marcos, which is under construction and slated for a January 2017 opening.

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Thursday, September 22

Mast Terminates Clinical Development of Sickle Cell Drug Following Poor Results; Co.'s Stock Plunges

The stock of local biotech Mast Therapeutics Inc. has plummeted nearly 80 percent following news of lousy clinical trial results.

Attorney’s New Role Will Help Guide eDiscovery Training

Joseph S. Leventhal, local office managing partner at Dinsmore & Shohl LLP, has been selected to join the ESI (Electronically Stored Information) Roundtable San Diego Charter Panel.

Carlsbad Locations Likely Next on Brewery Igniter’s Itinerary

North County has no shortage of craft beer companies; about a third of San Diego County’s 120-and-counting brewing sites are located there. But the area could soon get a new incubator-of-sorts for up-and-coming brewers.

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Co. Gives User Manuals a Customer-Friendly Makeover

TECH: MindTouch’s B2B Service Creates Positive and Useful Customer Connection

It takes a special talent to spin straw into gold.

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A Glimpse Behind the Curtain at a Busy Defense Contractor

General Atomics normally won’t come out and tell the world how busy it is.

Bowl Game Association Realizes It’s Time for New Game Plan

SPORT: Group Will Use Money, Marketing And Events to Draw Fans

The RedCoats aren’t just coming, they’re going to knock on your door harder than ever this year.

Work Of Heart

Social Conscience Meets Social Life In Neqtr’s Matchmaking App

Startups are not for the fainthearted. You have to hear the word “no” 50 times before getting anywhere, Sonya Davis observed. She was talking about scraping together money for a seed round, but the process of putting oneself out there and risking rejection has eerie echoes of the dating scene.

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Vistage Gives Leaders Useful Perspective and Peer Interaction

LEADERSHIP: It Offers Coaching In a Confidential And Challenging Format

It can be lonely at the top. In April, Torrie Inouye became president of San Diego-based alternative lender National Funding.

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Chuze Hopes Discount Users Pump Up Premium Memberships

SPORT: Private Equity Backs Expansion; Gym Stresses Customer Service

The early life of locally based gym chain Chuze Fitness can be summed up in its discount pricing strategy: Sure there’s more to the company’s approach, but mainly it grew by charging the relatively low price of $9.99 per month, or $20 for premium memberships, to attract large numbers of customers.

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Chargers Not on Hotels’ Highlight Reels

TOURISM: Football Fails to Score for Local Sector

National Football League games had a net $77 million impact on U.S. hotel revenue in 2015 — on par with the average $75 million seen over the past eight seasons — although the impact in San Diego was slightly negative, the research firm STR reported.

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Xencor Expanding L.A. County Operations Into San Diego

L.A. County-based Xencor Inc. is expanding its operations into San Diego, the company announced Thursday.

Tasty Business Model Was Just Part of Recipe

FOOD: Cookie Co. Makes Each Step a Successful Step Up

A San Diego cookie company that got its start at local farmers markets has opened a second store, an expanded version of its first, small-scale store in Point Loma.

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KCD PR Acquires Wall & Broadway

San Diego-based public relations and marketing agency KCD PR has acquired Wall & Broadway, a boutique consulting firm that specializes in clients in the fintech sector, the company announced this week.

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Medicine, Motivation Mix in New Network

Care: Incentives, Employer Participation Part of Coverage

An alternative to conventional health insurance is being marketed to San Diego-area employers with the promise of transparent medical costs, greater focus on physician-managed preventive care and potential savings to be shared by virtually everyone involved.

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Local Office of BNBuilders Gets $8.48M Caltech Lab Project

The San Diego office of general contractor BNBuilders has been hired to renovate an existing biomedical laboratory at California Institute of Technology (Caltech) in Pasadena. A company statement said the guaranteed maximum price for the project is approximately $8.48 million.

Bankers Hill Apartment Property Sells for $3.89 Million

An Irvine buyer recorded as Bankers Hill Holdings LLC has acquired a 13-unit apartment building in San Diego’s Bankers Hill neighborhood for approximately $3.89 million, according to CoStar Group and public data.

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Novatel Sells Wireless Hotspot Business for $50 Million

Novatel Wireless has agreed to sell its MiFi wireless hotspot business for $50 million cash.

‘Making A Scene’

PROPERTY: New Coworking Sites Add Polished Presence To the Alternative Office World

Two new coworking spaces are opening in downtown San Diego, both with massive square footage and a more polished presence that undoubtedly will fuel the city’s emerging startup economy.

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Tealium Raises $35 Million to Fund Global Expansion, Innovation

San Diego-based Tealium Inc. said on Sept. 21 that it received an additional $35 million in venture capital.

Encinitas Office Condo Sold for $2.2 Million

An affiliate of Encinitas-based Comprehensive Dermatology Group has purchased an office condominium building in Encinitas for approximately $2.2 million, according to CoStar Group and public data.

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Google Exec Reportedly Starting Company in San Diego

Dmitry Shapiro, former CEO of Veoh Networks and more recently a Google executive, is reportedly setting up a company in San Diego called GoMeta Inc.

Wednesday, September 21

Cobham Gets Multimillion-Dollar Contract

Cobham, which operates the former Remec business in San Diego, said it received orders worth tens of millions of dollars for radio frequency microelectronics to support the F-35 Lightning II fighter aircraft.

San Diego Architecture Firms AVRP, Skyport Studio Merge

San Diego architecture and design firms AVRP Studios and Skyport Studio announced that they have merged, with the combined company now called AVRP Skyport Studios.

San Diego Hotels Post 3.7 Percent Revenue Rise in First 8 Months

San Diego County hotels saw total revenue rise 3.7 percent from a year ago in the first eight months of 2016, topping $1.86 billion, even as occupancy dipped 0.3 percent to 79 percent, according to the latest monthly data from research firm STR.

El Centro Solar Plant Supplying Energy to San Diego Gas & Electric

A fully operational, 150-megawatt solar plant 14 miles west of El Centro is now providing energy to San Diego Gas & Electric Co. under a 25-year power purchase agreement, announced Omaha, Neb.-based project developer Tenaska.

Wendy Wong Named Guild Mortgage's First Chief Marketing Officer

Independent mortgage lender Guild Mortgage Company said Wednesday it has hired Wendy Wong as its first chief marketing officer and senior vice president.

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San Diego Firm Buys Escondido Mobile Home Park for $9.35 Million

San Diego-based Kleege Enterprises has acquired the Canyon Crest Estates mobile home park in Escondido for $9.35 million, according to brokerage firm Colliers International Group Inc.

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Kate Dilligan Joins Executive Team at KnuEdge

KnuEdge Inc., the company founded by former NASA Administrator Dan Goldin, named Kate Dilligan executive vice president and general manager of its KnuVerse division, which has created military-grade voice recognition and authentication technology.

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Cidara Therapeutics' Platform Identifies Potential New Drug Candidate

Local drugmaker Cidara Therapeutics Inc. has identified a new research target that could potentially treat bacterial infections that have formed resistance to multiple drugs on the market, the company said Wednesday.

Tuesday, September 20

Oceanside Retail Center Sells for $7 Million

A Honolulu- based joint venture, including Oceanside Sullivan LLC and Oceanside Takayama LLC, has purchased an Oceanside retail center for $7 million, according to brokerage firm Cushman & Wakefield.

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CyberFlow Analytics Acquired by Colorado-Based Webroot

Webroot Inc., a Colorado-based cybersecurity company, has acquired San Diego-based CyberFlow Analytics for undisclosed terms, the companies announced on Sept. 19.

North Park Apartment Property Sold for $3.37 Million

C&C University LLC of San Diego has purchased a 16-unit North Park apartment property for $3.37 million, according to brokerage firm Marcus & Millichap.

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Is Your Business Prepared For The Next Emergency?

Tickets are now on sale for the Business Emergency Preparedness Panel Discussion, presented by the San Diego Business Journal.

Business Confidence Hits 3-Year Low in Chamber Survey

Optimism among San Diego County employers hit a three-year low in August as a number of companies participating in a local survey indicated they would offer employees fewer work hours as summer ends, according to a forecast released Sept. 20 by the San Diego Regional Chamber of Commerce.

Chula Vista Apartments Sold for $6.2 Million

Villa Parq Apartment Homes LP of San Diego has purchased a 53-unit apartment property in Chula Vista for approximately $6.2 million, according to CoStar Group and public data.

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AMN Healthcare Subsidiary Announces $300 Million Private Offering

A subsidiary of San Diego’s staffing giant AMN Healthcare Services is making a private offering of $300 million in senior notes, according to an AMN news release.

Downtown San Diego Office Building Sells for $6.75 Million

A Los Angeles buyer recorded as San Diego K4 LLC has acquired a two-story downtown San Diego office building for $6.75 million, according to CoStar Group and public data.

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Clothing Drive Seeks Business Attire for Women Veterans

Operation Dress Code, a regional clothing drive for women veterans, kicked off Tuesday in San Diego.

Monday, September 19

North Island Credit Union Formally Opens New Branch

North Island Credit Union is slated to debut its new full-service branch Tuesday in the Mr. A's building in Bankers Hill.

Pentagon Awards GA-ASI Two Contracts Worth a Total of $42.6 Million

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $25.3 million contract modification to acquire four Gray Eagle war replacement aircraft and four satellite data terminals. The expected completion date is December 2017.

Appeals Court to Review PUC Approval of Carlsbad Power Plant

California’s First District Court of Appeals has agreed to revisit the state Public Utilities Commission’s 4-1 decision last year allowing construction of a 500-megawatt, natural gas-fired power plant in Carlsbad.

RF Industries Reports Q3 Net Loss of $597,000

Shares in RF Industries Ltd., the San Diego electronic component maker, declined 18 percent on Sept. 14 after the company reported a third-quarter net loss of $597,000 on revenue of $7.6 million.

Industrial Building Housing Carvin Corp. Sells for $14.4 Million

An affiliate of Phoenix-based Wentworth Property Co. LLC has purchased an industrial building in San Diego’s Carmel Mountain Ranch neighborhood, housing guitar amplifier maker Carvin Corp., for approximately $14.4 million, according to CoStar Group and public data.

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Commerce Secretary Appoints UC San Diego Chancellor to Innovation Council

UC San Diego Chancellor Pradeep K. Khosla has been appointed to the National Advisory Council on Innovation and Entrepreneurship, which recommends policies and programs to increase the global competitiveness of U.S. communities, companies and workers.

Lennar Buys Vista Residential Property for $4.76 Million

Homebuilder Lennar Homes of California has purchased a 31-lot residential development site in Vista for $4.76 million, according to brokerage firm Lee & Associates.

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Sunday, September 18

San Diego Apartment Property Sells for $12 Million

Affiliates of Costa Mesa-based Warmington Group of Companies have purchased a 17-unit apartment building in San Diego’s College Area for $12 million, according to CoStar Group and public data.

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Mad Catz Interactive Sells Its Saitek Line

Videogame peripheral maker Mad Catz Interactive Inc. said on Sept. 15 that it agreed to sell its Saitek line to Logitech International S.A. for $13 million, in an attempt to improve its financial position.

DeskHub Expands Its Little Italy Coworking Space

Coworking space DeskHub announced Sept. 16 that it expanded its San Diego location in Little Italy by roughly 50 percent, opening 8,000 square feet of new office space.

SMI Pensions Acquired By New York Company

Independent consulting firm Economic Group Pension Services on Sept. 15 announced it has acquired San Diego-based SMI Pensions, which designs and administers retirement plans.

The Business Calendar for the Week of September 19, 2016

Some of the business events scheduled in the county for the week of September 19, 2016, and beyond.

ACA Community Fund Awards $1.3M to 12 County Health Centers

Twelve San Diego County health centers received a total of more than $1.3 million as part of an $87 million federal investment in health information technology announced Sept. 15 by Health and Human Services Secretary Sylvia M. Burwell.

Owner of Santee Senior Housing Community Obtains $24.9M Refinancing

San Diego-headquartered The Grant Cos. has obtained $24.9 million in refinancing for The Pointe at Lantern Crest, the company’s 102-unit senior housing community in Santee.

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S.D.'s Unemployment Rate Is 5% for August

Despite a net loss of 1,300 jobs, San Diego County’s jobless rate improved in August to a seasonally unadjusted 5 percent as gains in real estate, trade, transportation and warehouse helped make up for losses construction manufacturing and hospitality.

Lee Named GM at Cape Rey Carlsbad Resort

Thomas Lee has been named general manager of the 215-room Cape Rey Carlsbad, operators of the upcale Hilton-branded resort announced.

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Friday, September 16

County's Unemployment Rate for August Is 5%

Despite a net loss of 1,300 jobs, San Diego County’s jobless rate improved in August to a seasonally unadjusted 5 percent as gains in real estate, trade, transportation and warehouse helped make up for losses construction manufacturing and hospitality.

The Business Calendar for the Week of September 19, 2016

Some of the business events planned in the county for the week of September 19, 2016, and beyond.

ACA Fund Awards $1.3M to 12 County Health Centers

Twelve San Diego County health centers received a total of more than $1.3 million as part of an $87 million federal investment in health information technology announced Sept. 15 by Health and Human Services Secretary Sylvia M. Burwell.

DeskHub Expands Its Coworking Space in Little Italy

Coworking space DeskHub on Sept. 16 expanded its San Diego location in Little Italy by roughly 50 percent, opening 8,000 square feet of new office space.

Owner of Senior Housing Community Obtains $24.9M Refinancing

San Diego-headquartered The Grant Cos. has obtained $24.9 million in refinancing for The Pointe at Lantern Crest

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Thomas Lee Named General Manager at Cape Rey Carlsbad Resort

Thomas Lee has been named general manager of the 215-room Cape Rey Carlsbad, operators of the upcale Hilton-branded resort announced.

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S.D. Apartment Property Sells for $12 Million

Affiliates of Costa Mesa-based Warmington Group of Companies have purchased a 17-unit apartment building in San Diego’s College Area for $12 million, according to CoStar Group and public data.

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New York Company Acquires SMI Pensions

Independent consulting firm Economic Group Pension Services on Sept. 15 announced it has acquired San Diego-based SMI Pensions, which designs and administers retirement plans.

Thursday, September 15

Case May Strengthen Trademark Protections

Perhaps during your last jaunt through Trader Joe’s, you noticed a man filling his cart with a surprisingly large number of groceries — and perhaps you even noticed that he was wearing a disguise as he shopped next to you. Maybe you’ve seen his advertisements looking for people who are willing to shop for him, at least until they are banned from Trader Joe’s as well.

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Summer Program Engages Students’ Interests and Ambitions

More than 30 children recently toured the San Diego Police Department’s Mid-City Division as part of United Way of San Diego County and City Heights Partnership for Children’s “Readers in the Heights” summer pilot program.

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Kiran’s Data Analytics Can Translate to Money in the Banks

TECH: SaaS Company Clues Retail Banks on Efficiencies, Service Levels

Jim DeLapa admits without hesitation to spending hours standing outside banking centers. It’s part of the job.

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A Detailed Account

Software: DecisionLogic Fills In the Financial Picture Beyond the Credit Score of Borrowers

Nearly 13 million people have had their banking information instantly and electronically verified by a lender using software invented by a San Diego company that offers an alternate method of determining a borrower’s creditworthiness.

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CEO Can Savor a Rare S.D. Moment as of Late: an IPO

With a legally mandated “quiet period” behind him, Chuck Myers could finally say how his August went. And his September.

Unusual Biotech Booster Enjoys Having a Lot on Her Plates

BIOTECH: Restaurateur Serves as Host, ‘Translator’ And Ambassador for Sector

In San Diego’s biotech world, there’s a name that circulates often: Amanda Caniglia, the lively café owner in Torrey Pines who’s shifted from outsider to industry insider.

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Qualcomm Joins Patent Licensing Clearinghouse

A new company will handle license agreements for technology developed at Qualcomm Inc.

Legoland Looks to Build on Successes With New Attractions

PARK: Castle-Themed Hotel Is Expected To Open in 2018

Owner Merlin Entertainments has invested millions in a steady stream of new attractions at Legoland California Resort in Carlsbad over the past five years, and the theme park’s operators expect changes to keep coming well into the next decade.

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ZibdyHealth Caters to Patients With Its Medical Records App

TECH: Co. Allows User To Decide How Much To Share and With Whom

In the world of electronic medical records, Hirdey Bhathal is more idealist than entrepreneur, a man who would sooner go on toiling in a cramped, two-man office in Encinitas, risking a personal investment he says exceeds seven figures, than compromise his commitment to customers.

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Ballot Box Planning Often Runs Into Wall of Political Realities

Development: It Can Be A Costly, Uphill Battle To Change Status Quo

“The majority of ballot initiatives fail,” Brian Adams, a political science professor at San Diego State University, told attendees at a recent forum on “ballot box planning.”

Innovation Impact Report

Plenty of ink has been devoted to San Diego’s maturing startup scene, but it’s sometimes hard to differentiate between truth and hype.

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Poizner Named Entrepreneur in Residence

EDUCATION: Role at Rady School Will Include Work With Accelerators

Serial entrepreneur and former California Insurance Commissioner Steve Poizner has been named the inaugural entrepreneur-in-residence at the Rady School of Management at the University of California, San Diego.

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Two Local Realtor Groups Agree to Share Resources, Benefits

REAL ESTATE: The 2 Groups Will Continue To Operate Independently

Two of San Diego’s three Realtor associations have signed an agreement to give their members access to services, resources and discounts offered by either association.

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Co. Wants to Bring Change to The Tire Manufacturing Process

PRODUCTION: Rubber Recycling Technique Targets Factory Waste

A conversation at the dinner table one night put 19-year-old Yohann Samarasinghe on the road to entrepreneurship.

S.D. Success Stories Show Way to Funding

FINANCE: You Need to Know How to Pursue VC

San Diego’s entrepreneurs shouldn’t feel pressured to book their one-way tickets to the San Francisco Bay Area to get venture backing. “We think there are great deals outside of the Bay Area,” said Peter Solvik, partner with Jackson Square Ventures, a San Francisco-based firm previously called Sigma West.

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Can Old Sempra Tower Leave Its Past Behind?

PROPERTY: Mixed-Use Plans Blocked By Zoning Designation

Property owner Sandor Shapery envisions a significant mixed-use residential makeover of the downtown San Diego high-rise building that formerly housed the longtime headquarters of Sempra Energy.

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Diversity Helps Expand Cos.’ Vision and Values

WORKFORCE: Studies Show Economic Benefits as Well

More and more San Diego companies are discovering that developing a more diverse workforce and establishing a sense of inclusion for workers from a variety of backgrounds isn’t just the right thing to do; it’s good business.

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Lining Gives Old Pipes A New Lease on Life

SERVICE: Cos.’ Solutions Save on Cost, Construction

Two San Diego pipe repair and replacement firms — Nu Flow and Bill Howe — have no shortage of business as private companies and public officials strain to modernize an aging infrastructure that some estimate could cost at least $1 billion to fix.

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Plotting The Course

BIOTECH: Co.’s Software, Data Bring Key Information To Choosing Cancer Treatments

The buzz in San Diego is that our software hub is growing, but the city’s true sweet spot is where science and software meet.

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JLL: San Diego Ranks 19th in U.S. For Strength of Tech Office Market

San Diego ranks 19th out of 45 major U.S. markets for the resiliency of its market for offices serving technology companies, according to a new national outlook report by the brokerage firm JLL.

Construction Begins on $127.8M Airport Parking Plaza

San Diego International Airport has begun construction on a $127.8 million parking plaza at Terminal 2, slated to open in time for summer travel in 2018.

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Westliving Plans $7 Million Renovation of Oakdale of La Mesa

Carlsbad-based Westliving announced it will spend $7 million to renovate Oakdale of La Mesa, a 180-unit assisted living and memory care facility it bought last year at 5740 Lake Murray Blvd.

Skylit Medical Changes Name to Clarify Medical, Appoints New CEO

San Diego medtech startup Skylit Medical has changed its name to Clarify Medical and brought in local executive James M. Sweeney as its new CEO.

BlueHornet Networks Creates New Digital Marketing Co.

Mission Valley-based BlueHornet Networks has purchased a complementary business to create a new digital marketing company called Mapp Digital LLC.

Wednesday, September 14

Execs From Cybersecurity Firm iboss Attend White House Summit

Two executives from iboss Inc., Richard Quinones and Stephen Clemons, went to Washington to take part in the White House Summit on Computer Science for All.

Design Firm Ware Malcomb Opens Second San Diego Office

Irvine-based design firm Ware Malcomb has opened its second office in San Diego, located downtown at 600 B St., Suite 2070.

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Rady Children’s Hospital, Five Other Medical Centers Form Consortium

Rady Children’s Hospital-San Diego has joined five other pediatric medical centers to form the Sanford Children’s Genomic Medicine Consortium, a collaboration intended to speed the integration of genomic medicine into pediatric care and otherwise support development of new medical treatments and cures for kids.

Southern California Gas Co. to Pay $4.3 Million to Settle Gas-Leak Charges

Southern California Gas Co., a utility owned by San Diego-based Sempra Energy, announced it has agreed to pay up to $4.3 million to settle accusations it neglected to notify authorities in a timely manner of a major leak at its Aliso Canyon natural gas storage facility in Los Angeles County.

Steve Poizner Named Inaugural Entrepreneur-in-Residence at Rady School of Management

Serial entrepreneur and former California Insurance Commissioner Steve Poizner has been named the UC San Diego Rady School of Management's inaugural entrepreneur-in-residence.

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Chula Vista Apartment Property Sells for $19.5 Million

A San Diego buyer recorded as Mark Li LP has acquired a 96-unit apartment complex in Chula Vista for $19.5 million, according to CoStar Group and public data.

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$1 Billion Federal Grant to Fund Mid-Coast Trolley Extension

The Federal Transit Administration has committed $1 billion toward a San Diego-area transportation project that, when combined with $1.1 billion from the TransNet half-cent sales tax, will extend the region’s trolley system 11 miles from Old Town to the University City community.

Ken Song Named President/CEO of Biotech Metacrine Inc.

Metacrine Inc., a new venture launched by biotech bigwigs in San Diego last year, has appointed a new president and chief executive officer: Dr. Ken Song.

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Tuesday, September 13

Miranda Toledano Chosen to Lead Corporate Development at Sorrento Therapeutics

San Diego’s Sorrento Therapeutics Inc., a public biopharmaceutical firm, has appointed Miranda Toledano as executive vice president of corporate development of Sorrento and president of LA Cell, Sorrento's joint venture with City of Hope.

Navy to Give SIO Up to $30 Million to Retrofit Research Vessel

The U.S. Navy announced on Sept. 12 that it will reimburse the Scripps Institution of Oceanography at the University of California, San Diego almost $30 million for the mid-life retrofit of the oceanographic research vessel Roger Revelle.

Sempra Energy Announces Changes to Executive Team

Sempra Energy announced a string of executive changes, including the upcoming departure of President Mark A. Snell, as part of a leadership development and succession process that effectively reshuffles the Fortune 500 company’s top leadership without bringing in anyone from outside its ranks.

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Startup MedCrypt Raises $750,000 in Seed Funding

Encinitas-based MedCrypt, a company that offers cybersecurity technology for medical devices, has raised $750,000 in seed funding.

County Employers Expect Moderate Job Growth in Q4

San Diego County employers plan moderate hiring overall in the fourth quarter to about the same pace they were expecting for the final three months of 2015, according to the latest results of the Manpower Employment Outlook Survey.

Federal Grant to The Maritime Alliance Intended to Boost Exports

The Maritime Alliance (TMA), an industry association based in San Diego, has been awarded a $296,705 federal grant intended to boost U.S. exports to France, Ireland, Korea and the United Kingdom.

Explora BioLabs Setting Up Shop in San Francisco

Explora BioLabs, a growing clinical research organization headquartered in San Diego, is expanding into South San Francisco.

Murphy Business & Financial Opens S.D. Office

Murphy Business & Financial Corp. LLC, a full-service business brokerage firm with more than 180 offices in the U.S. and Canada, recently announced the opening of a new office in Del Mar serving San Diego and surrounding communities in Southern California.

Monday, September 12

Couple Purchase Oceanside Photograph and Telescope

Oceanside Photograph and Telescope Inc. (OPT), a major supplier of astronomy equipment, has been sold to Dustin and Ginny Gibson. The couple bought the company from retiring industry veteran Craig Weatherwax.

Sempra U.S. Gas & Power Sells EnergySouth For $320 Million

Sempra U.S. Gas & Power, a unit of San Diego-based Sempra Energy, announced Sept. 12 it has sold the parent company of two natural gas distribution services in Alabama and Mississippi for $320 million in cash. The buyer, St. Louis-based Spire Inc., agreed to assume existing debt of $67 million as part of the deal.

Pentagon Awards Kratos Defense $54 Million Contract

Kratos Defense & Security Solutions Inc. announced on Sept. 12 that it received a $54 million contract to provide the U.S. Marine Corps with five Marine common aircrew trainers.

Floor Scrubber Is Shining Example of Robotics on the Job

Cleanup on aisle one zero one zero zero. Mira Mesa-based Brain Corp. has released a video of Emma, a robotic floor scrubber, at work at the Carlsbad location of grocer Jimbo’s Naturally.

Jason M. Hannon Named President/COO at NuVasive Inc.

San Diego medical device maker NuVasive Inc. has named Jason M. Hannon president and chief operating officer.

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Rancho Bernardo Office Building Sells for $4.2 Million

A San Diego buyer recorded as SD BLDG LLC has acquired a Rancho Bernardo office building for $4.2 million, according to brokerage firm Colliers International Group Inc.

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Northrop Grumman Corp. Awarded $108.1 Million Navy Contract

The U.S. Navy awarded Northrop Grumman Corp. a $108.1 million contract to buy 10 Fire Scout unmanned helicopters.

Qualcomm Inc. Expands Reach in China With Shanghai Testing Facility

Qualcomm Inc. has opened a semiconductor test facility in Shanghai, part of an effort by the tech giant to increase its business presence in China.

Encinitas Firm Buys Carlsbad Office Property for $10 Million

RAF Pacifica Group has acquired a Carlsbad office property for $10 million, the Encinitas-based company announced. The building was immediately leased to Ostendo Technologies, a digital manufacturing firm.

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University Heights Apartments Sold for $2.4 Million

San Diego-based Urban on Park LLC has purchased a 10-unit apartment complex in University Heights for approximately $2.4 million, according to brokerage firm Apartment Consultants Inc., also known as ACI.

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Obalon Therapeutics Announces $75M IPO; Gets FDA Approval

San Diego’s Obalon Therapeutics is on a roll. After announcing a $75 million IPO on Friday, the company said this morning that it has received FDA approval of its lead product: the Obalon Balloon System.

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Sunday, September 11

Port Retains Both OliverMcMillan and Sunroad for Harbor Island Project

Port of San Diego commissioners have voted to retain both of the two finalists — longtime local developers OliverMcMillan Inc. and Sunroad Enterprises — to oversee future redevelopment of 57 acres at Harbor Island.

Two S.D. Businesses Provide Components for Osiris-Rex Spacecraft

Two small San Diego businesses, Malin Space Science Systems and Vanguard Space Technologies Inc., provided components to the Osiris-Rex spacecraft launched Sept. 8 from Florida’s Cape Canaveral Air Force Station.

Seismic Is Moving to Bigger Headquarters in Del Mar Heights

Software firm Seismic is moving into a bigger office in Del Mar Heights after outgrowing its old headquarters in Solana Beach.

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The Business Calendar for the Week of September 12, 2016

Some of the business events scheduled in the county for the week of September 12, 2016, and beyond.

Milpower Inc. Awarded Navy Deal Potentially Worth $29.5M

The U.S. Navy awarded Milpower Inc. a five-year contract to build power amplifiers. The deal could be worth as much as $29.5 million if the Navy orders to its full extent.

Realty Income Increases Common Stock Monthly Dividend

San Diego-based Realty Income Corp. announced that it has increased its common stock monthly cash dividend for the 88th time since the company went public in 1994.

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Sempra Energy’s Board Declares Dividend

Sempra Energy’s Board of Directors has declared a dividend of 75 ½ cents per share of common stock, payable Oct. 15.

Friday, September 9

Seismic Moving to Bigger Headquarters

Software firm Seismic is moving into a bigger office in Del Mar Heights after outgrowing its old headquarters.

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Sempra Declares Dividend

Sempra Energy’s Board of Directors has declared a dividend of 75 ½ cents per share of common stock, payable Oct. 15. The dividend announced Sept. 9 is payable to shareholders of record on Sept. 29.

Port Retains OliverMcMillan, Sunroad for Harbor Island Project

Port of San Diego commissioners have voted to retain both of the two finalists — longtime local developers OliverMcMillan Inc. and Sunroad Enterprises — to oversee future redevelopment of 57 acres at Harbor Island.

Two San Diego Businesses Provide Components for Spacecraft

Two small San Diego businesses, Malin Space Science Systems and Vanguard Space Technologies Inc., provided components to the Osiris-Rex spacecraft launched Sept. 8 from Florida’s Cape Canaveral Air Force Station.

Business Calendar for Week of September 12, 2016

Some of the business events planned in the county for the week of September 12, 2016, and beyond.

Realty Income Corp. Raises Common Stock Monthly Dividend

San Diego-based Realty Income Corp. announced that it has increased its common stock monthly cash dividend for the 88th time since the company went public in 1994.

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Milpower Awarded Navy Deal Potentially Worth $29.5M

The U.S. Navy awarded Milpower Inc. a five-year contract to build power amplifiers. The deal could be worth as much as $29.5 million if the Navy orders to its full extent.

Thursday, September 8

Fortune Names Sempra CEO Debra L. Reed to 'Most Powerful Women in Business' List - Again

Fortune magazine has again named Sempra Energy Chairwoman and CEO Debra L. Reed to its “Most Powerful Women in Business” list, where she came in at No. 22, one spot higher than 2015’s list.

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National Science Foundation Awards USD $45,000 Grant

The University of San Diego announced on Sept. 8 that it received a $45,000 grant from the National Science Foundation, which will go toward work on an engineering conference.

Measure Workday in Productivity, Not Hours

The 9-to-5 grind has created a cult of workaholics.

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Sycuan Casino Helps Operation Bigs on Its Mission to Mentor

Sycuan Casino presented a $50,000 donation to Big Brothers Big Sisters of San Diego County before a John Ondrasik charity concert. Ondrasik is the front man for the band Five for Fighting and performed a solo acoustic set. The funds will benefit the charity’s Operation Bigs program which joins children who are military dependents to volunteer “Bigs” who are in the military, retired or civilian.

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ViaSat Inc. Signs Agreement With Scandinavian Airline

ViaSat Inc. said Sept. 8 that it has signed an agreement with SAS, the Scandinavian airline, to supply high-speed Wi-Fi connectivity on the carrier’s short-haul and medium-haul aircraft in Europe. Eutelsat will deliver the satellite internet signal.

Modern Elements Highlight Historic Charms in Hillcrest Beauty

It was quite an unexpected surprise for me while researching this week’s column on Hillcrest to find a home built in 1913 by one of San Diego’s earliest and most noteworthy families.

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S.D. County Construction Sector Adds 1,100 Jobs in July

BUILDING: Total Building Valuations $2.36B for Seven Months

While unemployment in San Diego has risen slightly since May, the construction sector is bucking the trend.

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Developers Seek Exemption for High-Rise Housing in Hillcrest

PROPERTY: Update To Community Plan Brings Clash of Interests

San Diego city planners by year’s end are aiming to resolve long-disputed issues relating to the future of commercial and residential development in the popular Hillcrest neighborhood.

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Task Mastering

BUILDING: Co.’s Software Gives Subcontractors the Technological Tools To Both Document And Do the Job

Wendy Rogers was once a consultant to subcontractors, helping them get paid for work they had done, but not clearly documented on large construction projects.

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Andy Vaughn Named Permanent President/CEO of Alliant International University

Alliant International University announced Thursday that Andy Vaughn has been appointed the university’s president and CEO after about nine months as its interim leader.

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Poseida Therapeutics Names Members of New Scientific Advisory Board

Poseida Therapeutics Inc., a local firm using gene editing to develop therapies, has announced its scientific advisory board.

West Health Names Zia Agha Chief Medical Officer

Dr. Zia Agha has been promoted to become chief medical officer at West Health, a clinical research, advocacy and philanthropy organization based in San Diego.

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Work Beginning on New Carté Hotel in Downtown San Diego

A Sept. 9 ground-breaking is planned for Carté Hotel & Suites San Diego, a new 240-room downtown hotel being built at a cost of approximately $62 million.

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Synthetic Genomics Inc. May Have ‘Built’ Better Bacteria

BIOTECH: Vmax Could Be Replacement For E. Coli in Labs

Scientists at Synthetic Genomics Inc. have harnessed the fastest-growing organism on the planet to be the new workhorse of the biotech industry.

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Procopio Is Going Strong as It Celebrates 70th Anniversary

Procopio Cory Hargreaves & Savitch is the largest local law firm and has been for the last few years.

Supporters of Stadium Measures Face Big Challenge: Voters

Two November ballot proposals that would hike San Diego’s city hotel taxes — potentially to build different combinations of stadium and convention center projects — now go by simple names: Measure C and Measure D.

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Co. Plans to Launch New Medical Image Management System

MEDICINE: StatRad Raises $13M, Prepares Marketing Team

A local company that only three years ago expanded from teleradiology to cloud-based medical imaging services is about to transform again.

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Businesses Have Various ‘Flight Plans’ for Commercial Drones

TECH: Under New FAA Rules, Activity Is Expected to Soar

The federal government has cleared the way for businesses to legally operate small quadcopters and other drones in moneymaking activities.

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Company’s 3-D Metal Printer Is Ready for Variety of Roles

TECH: Production, Coating, and Repairs of Parts Are All Possible

It started with a toy. But for Jeff Riemann and Melanie Lang, a store-bought 3-D printer was a business idea in disguise.

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New Bank Backers Eying Business Growth

FINANCE: More Cos. in S.D. Create Need for More Banking

Southern California appears to be ground zero for interest in new, or de novo, community banks, and a group of San Diegans could be next to tread the path few have dared since the financial crisis.

Lpath Inc. to Merge With Texas-Based Apollo Endosurgery

San Diego drug developer Lpath Inc. is calling it quits, and merging with Austin, Texas-based Apollo Endosurgery.

Festival Provides Prime Product Placement

ECONOMY: KAABOO Hits Demographic Bull’s-Eye

San Diego companies are prepared to broaden their name recognition and get their products into new customers’ hands this month at KAABOO, a three-day music festival in Del Mar that is ready to kick off its second year with a commitment to return for an additional four years.

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Retail in Balancing Act With Malls and Mobile

RETAIL: Properties Use Fun, Budget Buys to Draw Crowd

Retailers and shopping center operators are making major changes to their business strategies as online and mobile commerce take an increasingly big bite out of traditional store sales.

It’s Business’s Big Word; What Does it Mean?

COMPANIES: ‘Startup’ Label Can Be Tricky to Define

The word “startup” may not mean what you think it means. The label has boomed in popularity over the past decade, evolving from a buzzword during the dotcom era to the fuzzword it is today.

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Under The Microscope

MEDICINE: Co. Shares Its Lab Expertise to Cut Costs and Improve Care

In an industry where business models often promote outsourcing of health care services, San Diego-based blood and laboratory services company Accumen Inc. is growing quickly by doing the opposite: partnering with hospitals to make the most of their in-house blood transfusion and lab-testing operations. Since its first business deal five years ago this month, Accumen says its revenue has climbed 20 percent to 50 percent per year — unremarkable for a young company until you consider it became profitable its second year, paid cash in spring for a Michigan laboratory consulting

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Wednesday, September 7

Survey of CFOs Finds Majority Plan to Fill Vacancies

Fifteen percent of chief financial officers in San Diego who responded to a recent employment survey said they plan to hire full-time, professional-level workers for new roles in the next six months.

Harrah’s Resort Names Pilant to Succeed Beronio as GM

Harrah’s Resort Southern California in Valley Center has appointed Darrell Pilant to be its next general manager. Pilant will succeed Janet Beronio, who is retiring later this month after serving as senior vice president and general manager since 2003.

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LRAD Corp. Gets Thumbs Up From Pentagon

LRAD Corp. said on Sept. 7 that the U.S. Army has made its acoustic hailing device a program of record. The news marks a milestone for the product. Previously, the Army ordered the devices under urgency orders.

CardioCell LLC Retains Objective Capital Partners

San Diego biotech CardioCell LLC has retained Objective Capital Partners, an investment bank and mergers and acquisitions advisory firm, to help the company “manage growth,” the company said in a statement.

San Diego Office Building Sold for $6.4 Million

Investor Charlie Jadallah of San Francisco has purchased an office property in San Diego’s Rose Canyon submarket for $6.4 million, according to brokerage firm Marcus & Millichap.

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Three Physician Associations Form New Group

Three locally based independent physician associations have joined to create a new, for-profit administrative organization allowing San Diego County employers to negotiate directly with more than 800 doctors covering most medical specialties.

Workforce Partnership Gets $400,000 Grant for Retail Worker Training

The San Diego Workforce Partnership has been selected to receive a $400,000 grant from the Chicago Cook Workforce Partnership, as part of a nationwide effort to increase economic mobility for workers in retail and related sectors.

SDG&E Invites Public to Test-Drive Electric Vehicles

San Diego Gas & Electric Co. will co-sponsor a free event Sept. 17 where members of the public can test-drive more than 30 electric vehicles by various manufacturers at Qualcomm Stadium.

Tuesday, September 6

Kratos Defense & Security to Train Swedish Armed Forces

San Diego-based Kratos Defense & Security Solutions Inc. said it received a contract to train helicopter crews for the Swedish armed forces. Terms of the deal were not disclosed.

Domain Associates Invests in Medical Device Co.

An Orange County-based medical device company announced Tuesday it had secured $40 million in Series E financing from investors, including San Diego-based venture capital firm Domain Associates.

Poway-Based PKL Services Inc. Awarded $11.9 Million Contract

The U.S. Air Force said on Sept. 5 that it awarded Poway-based PKL Services Inc. a one-year, $11.9 million contract modification for aircraft maintenance and operation services.

Mike Eklund Named COO/CFO at DJO Global

Vista-based medical device maker DJO Global Inc. has recruited former Dell executive Mike Eklund to serve as the company’s new chief operating officer and chief financial officer.

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Self-Storage Facility in Spring Valley Sold for $9 Million

San Diego investor Dan Floit has acquired a 500-unit self-storage property in Spring Valley for $9 million, according to brokerage firm Apartment Consultants Inc., also known as ACI.

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Sempra Energy Subsidiary Buys Mexican Wind Farm

A Mexican subsidiary of San Diego-based Sempra Energy has agreed to buy a 252-megawatt wind farm in the northern state of Nuevo Leon for $375 million, not including its assumption of debt totaling $477 million.

Chula Vista Bank Building Sells for $2.4 Million

A Chinese buyer operating with a California limited liability company has acquired a Chula Vista building housing a California Bank & Trust branch for approximately $2.4 million, according to brokerage firm Pacific Coast Commercial.

Leadership Changes Announced at Three Life Science Cos.

Three San Diego life science companies made leadership changes over the holiday weekend.

Monday, September 5

San Diego Tourism Authority, Hotel-Motel Association Oppose Measures C, D

The San Diego Tourism Authority and the San Diego County Hotel-Motel Association have issued a joint statement opposing both November ballot measures that call for hikes in the city’s hotel taxes.

Port District Staff Selects OliverMcMillan Plan for Harbor Island Redevelopment

San Diego port district staff have recommended a proposal by locally based OliverMcMillan Inc. to develop hotels, recreational canals and other elements on 57 waterfront acres at Harbor Island. Port commissioners are scheduled to review the recommendation at their Sept. 8 meeting.

Arena Pharmaceuticals Announces Launch of Independent Incubator, Beacon Discovery

Local drugmaker Arena Pharmaceuticals Inc. has launched a new and independent incubator called Beacon Discovery, the company announced Sept. 1.

ViaSat to Supply European Air Carrier With Wi-Fi

ViaSat Inc. will supply the European air carrier Finnair with Wi-Fi connectivity under a deal announced on Sept. 1.

Three Local Accelerators Win $50,000 Grants in SBA Competition

Three San Diego business accelerators will each receive a $50,000 grant from the U.S. Small Business Administration, the organization announced this week.

Business Accelerator Hera Labs Receives $30,000 City Grant

Mayor Kevin Faulconer this week presented Hera Labs, a female-focused business accelerator, with a $30,000 city grant.

Retail-Office Property in Hillcrest Sold for $10 Million

Locally based San Diego Income Properties has purchased a retail and office property in Hillcrest for $10 million, according to brokerage firm Marcus & Millichap.

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The Business Calendar for the Week of September 5, 2016

Some of the business events scheduled in the county for the week of September 5, 2016, and beyond.

Wage and Salary Survey Shows Improving Pay Climate

San Diego employers as a whole gave their workers 2015 merit raises surpassing the national average, according to survey results released Sept. 1 by the San Diego Employers Association.

North Park Mixed-Use Buildings Sold for $2.1 Million

A San Diego buyer recorded as Gooville LLC has acquired a mixed-use office and residential property in North Park for $2.1 million, according to brokerage firm Colliers International Group Inc.

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Chula Vista Industrial Building Sells for $2.2M

AnaLou LLC of San Diego has acquired a Chula Vista industrial property for $2.2 million, according to brokerage firm Pacific Coast Commercial.

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Local Economic Index for July Is a Mixed Bag

In a sign that the local business community could face a mixed outlook, a closely watched local economic index slipped for the third consecutive month in July, the University of San Diego Burnham-Moores Center for Real Estate reported in an update concluding the trend may be nothing to worry about.

Sharp HealthCare Chooses System to Integrate Its Electronic Health Record System With Affiliated Group

Sharp HealthCare has agreed to extend its Cerner Corp.-developed electronic health record system to Sharp Community Medical Group, one of the San Diego-based health system’s affiliated medical groups.

Escondido Gas Station Property Sold for $2 Million

ASAP Investments of Escondido has purchased a retail gas station property formerly occupied by Valero for $2 million, according to brokerage firm Lee & Associates.

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Pinnegar Named CEO, President of the National Apartment Association

Robert “Bob” Pinnegar, former executive director of the San Diego County Apartment Association, has been tapped to become the next president and CEO of the National Apartment Association.

Jones Named President of the Association for Corporate Growth San Diego

Higgs Fletcher & Mack, a San Diego-based, full-service law firm, announced that R. Michael Jones, a business and corporate law attorney and one of the firm’s partners, was named president of the Association for Corporate Growth — San Diego (ACG).

PKL Services Receives Foreign Military Contract Worth Up to $495M

Poway-based PKL Services received a five-year contract from the Royal Saudi Air Force with a ceiling value of $495 million.

Friday, September 2

S.D. Economic Index Down for Three Consecutive Months

In a sign that the local business community could face a mixed outlook, a closely watched local economic index slipped for the third consecutive month in July, the University of San Diego Burnham-Moores Center for Real Estate reported in an update concluding the trend may be nothing to worry about.

Tourism Authority, Hotel-Motel Association Oppose Measures C, D

The San Diego Tourism Authority and the San Diego County Hotel-Motel Association have issued a joint statement opposing both November ballot measures that call for hikes in the city’s hotel taxes.

Arena Pharmaceuticals Launches Independent Incubator

Local drugmaker Arena Pharmaceuticals Inc. has launched a new and independent incubator called Beacon Discovery, the company announced Sept. 1.

Business Calendar for the Week of September 5, 2016

Some of the business events planned in the county for the week of September 5, 2016, and beyond.

Port Staff Selects OliverMcMillan Plan for Harbor Island Redevelopment

San Diego port district staff have recommended a proposal by locally based OliverMcMillan Inc. to develop hotels, recreational canals and other elements on 57 waterfront acres at Harbor Island. Port commissioners are scheduled to review the recommendation at their Sept. 8 meeting.

SBA Awards Three Local Accelerators $50,000 Grants as Part of Competition

Three San Diego business accelerators will each receive a $50,000 grant from the U.S. Small Business Administration, the organization announced this week.

Gas Station Property Sells for $2 Million

ASAP Investments of Escondido has purchased a retail gas station property formerly occupied by Valero for $2 million, according to brokerage firm Lee & Associates.

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R. Michael Jones Named President of the Association for Corporate Growth San Diego

Higgs Fletcher & Mack, a San Diego-based, full-service law firm, announced that R. Michael Jones, a business and corporate law attorney and one of the firm’s partners, was named president of the Association for Corporate Growth — San Diego (ACG).

North Park Residential, Office Buildings Sold for $2.1 Million

A San Diego buyer recorded as Gooville LLC has acquired a mixed-use office and residential property in North Park for $2.1 million, according to brokerage firm Colliers International Group Inc.

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Chula Vista Industrial Building Sells for $2.2 Million

AnaLou LLC of San Diego has acquired a Chula Vista industrial property for $2.2 million, according to brokerage firm Pacific Coast Commercial.

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Hera Labs Awarded City Grant for $30,000

Mayor Kevin Faulconer this week presented Hera Labs, a female-focused business accelerator, with a $30,000 city grant.

Sharp Chooses System to Integrate Its Electronic Health Record System With Affiliated Group

Sharp HealthCare has agreed to extend its Cerner Corp.-developed electronic health record system to Sharp Community Medical Group, one of the San Diego-based health system’s affiliated medical groups.

Hillcrest Retail-Office Property Sold for $10 Million

Locally based San Diego Income Properties has purchased a retail and office property in Hillcrest for $10 million, according to brokerage firm Marcus & Millichap.

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Thursday, September 1

Stone Brewing Taps Engels as New CEO

Escondido’s Stone Brewing Co. has named Dominic Engels as its new chief executive officer, effective Sept. 6, as current CEO and co-founder Greg Koch is promoted to a previously announced role as executive chairman.

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Zavante Therapeutics Secures $10 Million Loan

Zavante Therapeutics, a San Diego startup launched by biotech veterans last fall, has secured a $10 million loan from Square 1 Bank, a division of Pacific Western Bank.

Jerome’s Furniture Names Woods as New CEO

San Diego-headquartered retailer Jerome’s Furniture has hired Brian Woods as its new chief executive officer, effective Sept. 7. Woods succeeds Lee Goodman, who recently announced plans to step down after more than a decade with the company.

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Petco Leads $10M Series A Funding for Digital Pet Care Company Petnet

Petnet, a startup that sells automated pet feeders, has closed a $10 million Series A financing round led by San Diego-based retail chain Petco, the company said Aug. 31.

Carlsbad Building Housing ViaSat Sells for $13 Million

Investor Testa Family LP II, based in Huntington Beach, has acquired a Carlsbad office building fully occupied by ViaSat Inc. for $13 million, according to brokerage firm Marcus & Millichap.

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San Diego Ranks Low in Affordability Against Competing Metropolitan Areas

San Diego lags behind most of its national competitors in terms of affordability, as measured by cost of living as a share of per-capita personal income, according to a study released Sept. 1.

Scripps Health Acquires Assets of Pacific Coast Women’s Health Medical Group

Scripps Health has acquired the assets of Pacific Coast Women’s Health Medical Group, whose physicians become part of Scripps Coastal Medical Group under a transaction announced Sept. 1.

Sullivan Solar Power Completes Work at 6 Schools for Encinitas Union School District

Sullivan Solar Power has completed construction of six solar projects expected to save Encinitas Union School District more than $21 million during the next 25 years.

Rental Condo Property in National City Sold for $15.8 Million

An Irvine buyer recorded as 12th Street Apartments LLC has purchased the 61-unit Centro Condominiums rental property in National City for $15.8 million, according to brokerage firm Berkadia.

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The San Diego Foundation Fills Two Leadership Positions

The San Diego Foundation named Susan Bantz as its chief operating officer and Cami Mattson as director of charitable giving.

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Halozyme Therapeutics Names Gergen COO

San Diego biotech Halozyme Therapeutics Inc. has appointed Mark J. Gergen as senior vice president and chief operating officer.

Navy Awards Pave Tech a $10 Million Contract Modification

The U.S. Navy said that it awarded Vista-based Pave Tech Inc. a $10 million contract modification to make improvements to a taxiway, runway lighting and electrical infrastructure at Naval Air Station Fallon in Nevada. Work, which will expand the width of a taxiway and replace existing asphalt pavement with concrete, is expected to last through November 2017.

Local Group Applies to FDIC to Create New Bank

FINANCE: Endeavor Would Be First New Community Bank in Years

A group of San Diegans this month filed an application with the Federal Deposit Insurance Corporation seeking approval to form a new community bank.

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