Stories for February 2017

Tuesday, February 28

Three S.D. Shipyards to Share $120.5 Million Navy Contract

The U.S. Navy awarded a combined $120.5 million contract modification to three San Diego shipyards — BAE Systems San Diego Ship Repair, Continental Maritime and General Dynamics NASSCO — to conduct maintenance and repair work on Arleigh Burke-class destroyers and Ticonderoga-class cruisers.

China Complicating Maxwell Technologies' Efforts to Regain Footing

Buffeted by market forces — including the ups and downs of a major customer, the Chinese bus manufacturing sector — San Diego-based Maxwell Technologies Inc. announced continued losses, a plan to restructure and plans to buy a competitor on Feb. 28.

Four Reasons Why Sempra Earned $1.37 Billion in 2016

Sempra Energy posted a 2.7 percent, year-over-year increase in fourth-quarter earnings, beating analysts’ expectations and capping a year in which its net income grew 1.7 percent despite a half-percent, $48 million revenue decline.

Merger of North Island, California Credit Unions Approved

San Diego-based North Island Credit Union and California Credit Union, headquartered in Glendale, will merge effective March 1.

Tease photo

Developer Obtains $12.7M in Financing for Point Loma Mixed-use Project

Developer K&K Veritas LP has obtained approximately $12.7 million in construction financing for a planned new mixed-use luxury apartment community in San Diego’s Midway district in Point Loma, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

Tease photo

Renovate America Closes $200 Million Credit Facility

San Diego-based Renovate America, a provider of financing for residential property-assessed clean energy programs, announced Tuesday that it has closed a $200 million credit facility with Bank of America.

Realty Income Corp. Begins $645.8 Million Stock Offering

Realty Income Corp. has commenced a public stock offering with expected net proceeds of approximately $645.8 million, the San Diego-based company announced.

Ionis Beats Wall Street’s Expectations

Carlsbad drugmaker Ionis Pharmaceuticals Inc. reported fourth quarter and annual earnings Tuesday that blew expectations out of the water.

Monday, February 27

Architectural Firm KTUA Names Two Principals

San Diego-based planning and landscape architecture firm KTUA announced Monday that two longtime employees have been named principals.

Tease photo

Kratos Reports 2016 Revenue of $668.7 Million

Kratos Defense & Security Solutions Inc. reported a net loss of $4.3 million, or 7 cents per share, on revenue of $182.1 million for its fourth quarter, which ended Dec. 25. In the same quarter of 2015, the business reported a net loss of $4.0 million, or 7 cents per share, on revenue of $177.5 million.

Tech Startup Cordial Receives $6 Million in Series A Funding

Cordial, the downtown San Diego company that helps other companies market their products, said on Feb. 27 that it received $6 million in series A funding. Upfront Ventures of Los Angeles provided the support.

Target Plans November Debut for New Oceanside Store

Target Corp. plans a November 2017 opening for a new 89,000-square-foot store at the Mission Marketplace retail center in Oceanside. It will be the retailer’s second Oceanside store and its 22nd in San Diego County.

Tease photo

Bankers Hill Office Property Sells for $2.25 Million

A local buyer recorded as 2341 Fifth Avenue LLC has purchased a Bankers Hill office property for $2.25 million, according to CoStar Group and public data.

Tease photo

Chamber Delegation Heads to Sacramento

The San Diego Regional Chamber of Commerce will lead its largest-ever delegation to Sacramento this week in an effort to voice local needs to state officials.

Stock Soars on La Jolla Pharmaceutical Co.’s Positive Data

The stock price is soaring for local drugmaker La Jolla Pharmaceutical Company following promising clinical trial data on its experimental blood pressure drug.

San Diego International Passenger Count Declined 2.5 Percent in January

Passenger traffic at San Diego International Airport dipped 2.5 percent from a year ago for the month of January, as the facility handled a total of 1.5 million arriving and departing travelers.

Tease photo

Sunday, February 26

In Search of Google's Motive in S.D.

Google has sparked a mystery of sorts by apparently shelving the project that brought it to San Diego in the first place.

FDA Gives Tocagen's Drug Combination Breakthrough Therapy Status

San Diego drugmaker Tocagen has won breakthrough therapy designation from the U.S. Food and Drug Administration, giving the company quick access to regulators as it advances a combination therapy for brain cancer.

County’s Construction Starts Declined 4% in January

San Diego County’s construction starts for the month of January dipped 4 percent from the same period a year ago, totaling $329.7 million in value, according to research firm Dodge Data & Analytics.

Tease photo

Getting a Ship Out of the Water Is Something to See

Imagine having to back a very big Cadillac into a tight parking place over the space of two hours, and you’ll get some idea of what it’s like to bring a 684-foot U.S. Navy ship into dry dock.

The Business Calendar for the Week of February 27, 2017

Some of the business events scheduled in the county for the week of February 27, 2017 and beyond.

GTOs' Reporting Requirement for Cash Purchases of Houses Extended

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) bureau has extended by 180 days its orders requiring title insurance companies in six major metropolitan areas, including San Diego, to identify anyone who plunks down cash for a high-end home.

Jack in the Box Q1 Results Are 'Mixed'

Fast-food restaurant company Jack in the Box Inc. (NASDAQ: JACK), one of the largest corporations based in San Diego, reported net earnings of $35.9 million for the first quarter of its fiscal year, about 8 percent more than the $32.2 million in the same quarter the previous year.

Mad Catz Interactive Receives Notice of Noncompliance From NYSE MKT

Financial losses at Mad Catz Interactive Inc. have put the San Diego-based videogame company out of compliance with listing rules at the stock exchange where its shares trade.

S.D.-Based Company Could Receive Up to $47.5 Million in Navy Orders

San Diego-based Cypher Analytics, doing business as Crown Point Systems, is in line to receive as much as $47.5 million in awards over five years for electronic equipment, specifically information communication technology and equipment.

La Mesa Apartments Sold for $7.35 Million

San Diego investor Matt Rattner has acquired a 44-unit apartment property in La Mesa for $7.35 million, according to brokerage firm Apartment Consultants Inc. (ACI).

Tease photo

Eco Building Products Secures $400,000 Credit Facility for Launch of Subsidiary

San Diego surfacing company Eco Building Products Inc. has secured a $400,000 credit facility to fund the launch and near-term ramp-up of its new subsidiary, Wood Protection Technologies Inc.

Friday, February 24

Getting a Ship Out of Water Is Something to See

Imagine having to back a very big Cadillac into a tight parking place over the space of two hours, and you’ll get some idea of what it’s like to bring a 684-foot U.S. Navy ship into dry dock.

La Mesa Apartments Sold for $7.35M

San Diego investor Matt Rattner has acquired a 44-unit apartment property in La Mesa for $7.35 million, according to brokerage firm Apartment Consultants Inc. (ACI).

Tease photo

Business Calendar for Week of February 27, 2017

Some of the business events planned in the county for the week of February 27, 2017, and beyond.

County’s Construction Starts Declined 4 Percent in January

San Diego County’s construction starts for the month of January dipped 4 percent from the same period a year ago, totaling $329.7 million in value, according to research firm Dodge Data & Analytics.

Tease photo

Eco Building Products Secures $400,000 Credit Facility for Launch of Its Subsidiary

San Diego surfacing company Eco Building Products Inc. has secured a $400,000 credit facility to fund the launch and near-term ramp-up of its new subsidiary, Wood Protection Technologies Inc.

Searching for Google's Motive in San Diego

They came; they bought; they shelved...?

Mad Catz Interactive Inc. Receives Notice of Noncompliance From NYSE

Financial losses at Mad Catz Interactive Inc. have put the San Diego-based videogame company out of compliance with listing rules at the stock exchange where its shares trade.

S.D.-Based Company Could Receive Up to $47.5M in Navy Orders

San Diego-based Cypher Analytics, doing business as Crown Point Systems, is in line to receive as much as $47.5 million in awards over five years for electronic equipment, specifically information communication technology and equipment.

Jack in the Box Reports Q1 Net Earnings of $35.9 Million

Fast-food restaurant company Jack in the Box Inc. (NASDAQ: JACK), one of the largest corporations based in San Diego, reported net earnings of $35.9 million for the first quarter of its fiscal year, about 8 percent more than the $32.2 million in the same quarter the previous year.

GTOs' Reporting Requirement for Cash Purchases of Houses Is Extended

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) bureau has extended by 180 days its orders requiring title insurance companies in six major metropolitan areas, including San Diego, to identify anyone who plunks down cash for a high-end home.

Thursday, February 23

What Do These Silicon Valley Startup Transplants Think of S.D.?

Viral blog articles and cheeky ad campaigns are fueling a lot of talk about entrepreneurs moving their startups from Silicon Valley — and other startup hubs — to San Diego.

Tease photo

Local 'Shark Tank' Startup Appearing on '20/20' Show

San Diego’s Tower Paddleboards will be featured on ABC Television’s “20/20” news magazine, set to air at 10 p.m. Friday, Feb. 24.

Tease photo

Erol Erturk Joins C-Suite at D&K Engineering

D&K Engineering’s Erol Erturk has been promoted to vice president of research and development, the company said.

Tease photo

Sempra Energy's Board Hikes Company Dividend

Sempra Energy’s board of directors has agreed to increase the company’s dividend 9 percent to 82.25 cents per quarter.

S.D.’s Single-Family Home Market Sixth-Hottest in Nation

San Diego’s single-family home market ranks as the sixth-hottest in the nation, down one place from January, amid an early start to the national home-buying season.

Revenue Rises at Retail Opportunity Investments Corp.

Revenue at Retail Opportunity Investments Corp. (ROIC) rose 23 percent from a year ago in the fourth quarter ending Dec. 31, reaching $63.1 million, the San Diego-based company reported.

Aviva Systems Biology Corp. Acquires GenWay Biotech

San Diego-based antibody manufacturer Aviva Systems Biology Corp. has acquired GenWay Biotech Inc., another San Diego company that makes proteins.

City On Wrong Legal Course for Bay Remediation

Recently an Oakland court found that a public nuisance claim brought by cities against the manufacturer of Polychlorinated Biphenyls (PCBs) can go forward, even though the manufacturer never owned or operated a plant in the region and never discharged a single molecule of PCBs into the municipality’s adjoining waterways.

Tease photo

Padres Pedal the Cause Can Take Victory Lap After Donation

Padres Pedal the Cause presented a check for $2,031,989 to researchers from Moores Cancer Center at UC San Diego Health, Sanford Burnham Prebys Medical Discovery Institute, the Salk Institute for Biological Studies and Rady Children’s Hospital–San Diego. Padres Pedal the Cause Executive Director Anne Marbarger presented the check during a gathering of more than 100 beneficiary representatives, San Diego business leaders, as well as top donors and fundraisers. The award represents the total amount raised by the organization’s 2016 cycling event.

Tease photo

Swinerton Builders Wins $10.2M Contract For Grossmont's Surgical Unit

San Diego-based Swinerton Builders has won a $10.2 million construction contract – the last available under 2006’s $247 million Proposition G – to build out the surgery floor of Grossmont Healthcare District’s new, 71,000-square-foot Heart and Vascular Center in La Mesa.

Engineering Firm Built Bridges Within the Company Culture

SERVICE: Latitude 33 Pursued Education Market, Other New Opportunities

A San Diego-based engineering firm that shrank to a shadow of its former self during the Great Recession has bounced back after diversifying its customer base and improving company communications, both internally and with customers.

Tease photo

Nine House Democrats Introduce Military Base Closure Bill

Nine Congressional Democrats introduced a military base closure bill in the House of Representatives on Feb. 1. It’s still a long way from passing, but if it does become law, San Diego can expect a fight — perhaps an aggressive public relations push and a behind-the-scenes lobbying effort — to keep all of its U.S. Navy and Marine Corps bases.

Tease photo

Software Developer Raken's Co-Founder Takes CTO Role

San Diego-based Raken, a software-as-a-service platform for construction site reporting, has named co-founder Sergey Sundukovskiy chief technology and product officer.

Tease photo

Who's Your Caddy? Golf Simulator Mixes Work, Play

SPORT: Street Swings Sees Potential for Use as Team-Building Exercise

Jenn Harris approaches the 18th hole at Pebble Beach, golf club in hand. With an aggressive swing she gives the ball a whap. The sharp noise of the contact echoes off the ceiling and the walls beside her. On the screen ahead of her, a brightly colored, computer-generated line shows the trajectory of the ball through the air of the iconic course.

Tease photo

Manchester’s Mission Valley Plan Calls for Retaining Qualcomm Stadium

Developer Douglas Manchester’s vision for the Mission Valley site of Qualcomm Stadium calls for renovating rather than replacing the 50-year-old venue, and potentially adding a new arena to host an NBA team.

Tease photo

Developers Have Goal-Oriented Concept for Mission Valley

San Diego hasn’t even won a Major League Soccer franchise, but a local investor group vying to bring one to Mission Valley is wasting no time in branding their mixed-use project as “SoccerCity.”

Tease photo

Compound Comes With a Beautiful Water Feature: a Lake

Imagine if hidden among the crowded freeways and hustle and bustle of San Diego County there was a place to come home to that was a secluded, quiet compound overlooking a serene lake.

Tease photo

Absorption of Office Space is Highest in Region Since 2005

DEMAND: Coworking Facilities Drive Vacancy To Post-Recession Low

San Diego County saw rising demand for space in most commercial property categories during the past year, as the region continued to add jobs and new construction remained limited in nearly every sector except apartments. There are more than 9,400 apartments in the development pipeline, with about 3,600 being built downtown.

Robust Market Feels Right at Home

DEVELOPMENT: Housing Demand Sustains Strong Climate; Other Sectors Also Continue Trend of Low Vacancy Rates

As with the now 8-year-old bull market for U.S. stocks, it’s quite natural for many to wonder how much longer the good times can last for commercial real estate in San Diego County, after three straight years of primarily upward-trending metrics, fueled by the addition of more than 100,000 jobs in the region. Barring an unforeseen national or global event that rocks consumer or investor confidence, observers are predicting that the local real estate climate should stay strong in 2017 and possibly well into 2018.

Tease photo

Airpark Begins Its Approach

AIRPORT: FBO Facility, Other Aviation Works Set for First Phase

Local developer Metropolitan Airpark LLC is looking to begin construction later this year on a long-planned project that eventually will bring more than $1 billion in new aviation and commercial facilities to Brown Field Municipal Airport in Otay Mesa.

Tease photo

Seacoast Holds On to More of Its SBA Loans

BANKING: Shift Is Beginning to Pay Off for the Bank

It’s been nearly 10 years since Richard Sanborn was hired to turn around Seacoast Commerce Bank, the Rancho Bernardo-based commercial bank.

Tease photo

Cubic Aims for Defense Acquisitions to Click

DEFENSE: Mission Solutions Biz Combines Systems, Services

Not too many military satellite dishes make a hissing noise like an air mattress deflating when it’s time to pack things up and ship them off to their next location. Then again, the satellite dish from Cubic Corp.’s GATR Technologies business is not your typical model.

Tease photo

Mixed-Use Planned at Former Hospital Site

PROPERTY: Bids for Old Palomar Facility Already In

Escondido finally has an answer — part of one anyway — on what will be done with the hospital campus that has stood as a landmark in the city’s downtown since the 1950s.

Tease photo

Flux’s Gamble Got the Market to Bet on Its Product

ENERGY: Battery Co. Got Key Customers, Credibility

Ron Dutt had only just started as CEO at Flux Power Holdings Inc., but it looked to him like product development was taking a precariously long time.

Tease photo

Searching For Google’s Motive

TECH: Actions After Lumedyne Acquisition Make For Good Mystery

Google has sparked a mystery of sorts by apparently shelving the project that brought it to San Diego in the first place.

Tease photo

Wednesday, February 22

Guild Mortgage Continues to Grow Loan Volume, Expand Reach

San Diego-based independent mortgage lender Guild Mortgage loaned homebuyers $15.9 billion in 2016, 15.3 percent more than the $13.8 billion it loaned out in the prior year, the company announced Tuesday.

Realty Income Corp. Reports Quarterly, Annual Revenue Increases

Realty Income Corp. reported a 9.1 percent gain from a year ago, as revenue for the fourth quarter ending Dec. 31 reached $287.8 million. Full-year revenue topped $1.1 billion in 2016, up 7.8 percent from 2015.

Tease photo

Malin Space Science Wins $10.9 Million Navy Contract

The U.S. Navy awarded Malin Space Science Systems Inc. of Sorrento Mesa a $10.9 million contract for space-qualified visible cameras for geosynchronous operations.

Eight Local Firms Make Entrepreneur Ranking of Top Company Cultures

Eight San Diego County companies made Entrepreneur magazine’s latest annual list of the nation’s top company cultures, which includes a total of 153 firms in three size categories.

TSRI Revamps Board, Adds Venture Capitalist John Diekman

The Scripps Research Institute has named venture capitalist John Diekman as the nonprofit’s new chairman of the board, along with seven new members, including a billionaire biotech investor and top industry executives.

Tease photo

San Diego EDC Shuffles Staff as Senior Official Departs

A senior official at the San Diego Regional Economic Development Corp. is stepping down to take a position in the Canadian government.

Tease photo

Qualcomm Successfully Tests 5G Technology; Tests Set in China

Qualcomm Inc. announced a fast first.

Proficio Launches Service for Health Care Organizations

Proficio Inc. has launched a new service to help hospitals and other health-care organizations comply with federal rules for keeping medical information confidential.

Tuesday, February 21

Palomar Health Weighing Proposal for Downtown Campus

Escondido finally has an answer – part of one anyway – on what will be done with the hospital campus that has stood as a landmark in the city’s downtown since the 1950s.

Tease photo

Coldwell Banker Acquires Masterpiece Realty Associates

Del Mar-based Masterpiece Realty Associates Inc. has been acquired by real estate brokerage company Coldwell Banker Residential Brokerage, the firm announced Tuesday. Financial terms of the deal were not disclosed.

Fourth-Quarter, Annual Revenue Rise at American Assets Trust

American Assets Trust Inc. saw total revenue rise 7 percent from a year ago for its fourth quarter ending Dec. 31, topping $76.5 million, the San Diego-headquartered company reported.

San Diego 2nd-Least Affordable City for Homebuyers

San Diego was the second-least-affordable large metropolitan area in the country during the fourth quarter of 2016, according to a new salary analysis by online mortgage resource HSH.com.

Stone Brewing's CFO Joins Ken Blanchard Cos.

The Ken Blanchard Companies, a global management training firm, has hired Stone Brewing Co.’s chief financial officer.

Tease photo

County Hotels Saw January Revenue Rise 4.8 Percent

Revenue at San Diego County hotels rose 4.8 percent from a year ago during the month of January, topping $180.5 million, according to the latest monthly data from research firm STR.

Abacus Next Acquires Two Software Companies

Abacus Next of San Diego announced on Feb. 21 that it acquired two companies serving the accounting space, Cloudnine Realtime and Results Software, from the companies’ private owners. Financial terms of the acquisitions were not disclosed.

Microsoft's Board Chairman Appointed to Illumina Board

Local instrument maker Illumina Inc. has appointed John W. Thompson, a former IBM executive and technology expert, to the company’s board of directors.

Tease photo

Monday, February 20

Orca Robotics Named Semifinalist in Xprize Competition

Orca Robotics, a San Diego company, is among 21 semifinalists for the $7 million Shell Ocean Discovery Xprize, organizers of the competition announced on Feb. 16.

Investor Group Unveils Vision for Qualcomm Stadium Site

An investor group has unveiled details of its plan to turn the Qualcomm Stadium site into housing, commercial space and park space.

Tease photo

Airgain Reports Positive Net Income for Q4 and 2016

Airgain Inc. — which makes wireless antennas for household, office and industrial devices — reported net income of $1.1 million on sales of $12.6 million during its fourth quarter, which ended on Dec. 31.

Qualcomm's Chief Accounting Officer to Resign

Qualcomm Inc. notified securities regulators on Feb. 15 that its senior vice president and chief accounting officer, John Murphy, plans to resign on March 17 to pursue other opportunities.

San Diego Businesses Gaining Confidence, Survey Shows

San Diego businesses kicked off 2017 on a positive note, according to an update by the San Diego Regional Chamber of Commerce.

Sunday, February 19

Amazon Game Studios Opens S.D. Office

Amazon Game Studios, the online retail giant’s gaming development arm, has opened an office in San Diego, the company announced.

Multifamily Tower Planned After $15.2M Property Buys in Little Italy

An affiliate of San Diego-based AAA Management LLC has acquired two land parcels in downtown’s Little Italy for a total of $15.2 million, according to CoStar Group and public data.

Tease photo

Pending Deal Will Determine Strength of Local M&A Activity for 2016

The value of mergers and acquisition transactions in San Diego in 2016 grew 157 percent over the prior year — but 88 percent of the total deal value, $54.06 billion, was attributable to one agreement: Qualcomm’s decision to buy NXP Semiconductors N.V. for $47.6 billion.

Dermata Funding Could Give Co. $10M to Work With

Local biotech Dermata Therapeutics LLC is bringing in $10 million to fuel the development of its dermatological products, the company announced Feb. 16.

The Business Calendar for the Week of February 20, 2017

Some of the business events scheduled in the county for the week of February 20, 2017, and beyond.

Kearny Mesa Office Building Sold for $5.87 Million

San Diego-headquartered Castle Investment Co. Inc. has acquired a Kearny Mesa office building for $5.87 million, according to CoStar Group and public data.

Tease photo

Positive Responses Push Business Outlook Index Up

San Diego businesses kicked off 2017 on a positive note, according to an update by the San Diego Regional Chamber of Commerce.

AMN Healthcare Reports Record Revenue, Earnings

AMN Healthcare reported fourth-quarter earnings of $26.4 million, a nearly 31 percent year-over-year jump that helped the San Diego-based medical staffing company post record revenue and earnings in 2016.

Airgain Inc. Reports Fourth Quarter and Yearly Results

Airgain Inc. — which makes wireless antennas for household, office and industrial devices — reported net income of $1.1 million on sales of $12.6 million during its fourth quarter, which ended on Dec. 31.

Cohu Reports Net Income of $3 Million for the Year

Poway-based Cohu Inc., which makes automated testing machinery that lets semiconductor manufacturers test their finished products, reported fourth quarter net income of $2.1 million on net sales of $70.7 million.

BofI Federal Bank Elects Grinberg Chairman of the Board

BofI Federal Bank, the San Diego-based online-only bank, announced Feb. 16 that Paul Grinberg has been elected chairman of the company's board of directors.

Friday, February 17

Amazon Game Studios Opens a S.D. Office

Amazon Game Studios, the online retail giant’s gaming development arm, has opened an office in San Diego, the company announced.

Kearny Mesa Office Building Sells for $5.87 Million

San Diego-headquartered Castle Investment Co. Inc. has acquired a Kearny Mesa office building for $5.87 million, according to CoStar Group and public data.

Tease photo

Little Italy Multifamily Tower Planned After $15.2M Property Buys

An affiliate of San Diego-based AAA Management LLC has acquired two land parcels in downtown’s Little Italy for a total of $15.2 million, according to CoStar Group and public data.

Tease photo

AMN Reports Record Revenue, Earnings

AMN Healthcare reported fourth-quarter earnings of $26.4 million, a nearly 31 percent year-over-year jump that helped the San Diego-based medical staffing company post record revenue and earnings in 2016.

Business Calendar for Week of February 20, 2017

Some of the business events planned in the county for the week of February 20, 2017, and beyond.

Cohu Inc. Reports Net Income of $3 Million for the Year

Poway-based Cohu Inc., which makes automated testing machinery that lets semiconductor manufacturers test their finished products, reported fourth quarter net income of $2.1 million on net sales of $70.7 million.

A Pending Deal Will Determine Strength of Local M&A Activity for 2016

The value of mergers and acquisition transactions in San Diego in 2016 grew 157 percent over the prior year — but 88 percent of the total deal value, $54.06 billion, was attributable to one agreement: Qualcomm’s decision to buy NXP Semiconductors N.V. for $47.6 billion.

Funding Strategy Brings Potential $10M to Dermata

Local biotech Dermata Therapeutics LLC is bringing in $10 million to fuel the development of its dermatological products, the company announced Feb. 16.

Thursday, February 16

Bay City Television Shutting Down, to Lay Off 127

San Diego-based Bay City Television, which operates XETV 6, plans to lay off more than 100 people, the California Employment Development Department reported this month.

Don’t Undo Progress from Increased Coverage

As a new administration continues its transition in Washington, D.C., many are wondering what changes are still to come in the first 100 days. As organizations on the front lines helping people access health care services in the San Diego region, we share the public’s uncertainty about what’s in store for the future.

Tease photo

Healthcare District Grant Promotes Outreach to Refugees

The Grossmont Healthcare District has awarded a $10,000 grant to License to Freedom, an El Cajon-based nonprofit that assists Middle Eastern refugees and immigrants with cultural assimilation and health education.

Tease photo

It’s All In The Family

The San Diego Business Journal will host a forum on family-owned businesses with two panel discussions — one featuring local owners of family businesses and the other featuring experts who will speak to the unique challenges. Topics will cover a wide range of issues and include insights from multigenerational founders and perspectives from those assuming new leadership responsibilities. Members of the panels offer a preview here.

Tease photo

TALK ABOUT TECH TRENDS

Local Information Executives Discuss Emerging Strategies and Tactics From a Technology Perspective

Tease photo

HCAP Partners Invests in Oakland Distributor

Private equity firm HCAP Partners has completed an undisclosed mezzanine debt investment in Progistics Distribution Inc., a company specializing in “last mile” delivery.

Proficio Aims to Offer Top-Flight Security In MSSP Model

TECH: Infusion of $12M Will Boost Growth and Enhance Reputation

Insecure times seem to favor cybersecurity company Proficio, which has outgrown its Carlsbad space two years ahead of schedule and is planning a move to a building with three times the room.

Tease photo

Dauntless Enters the Clinic With Extra $25 Million

Dauntless Pharmaceuticals, a San Diego biotech with an innovative business model, scored an additional $25 million to enter the clinic with its first investigational drug.

Tourism Authority: Nearly 35 Million Visited San Diego in 2016

San Diego hosted a record 34.9 million visitors who spent $10.4 billion in the region during calendar year 2016, according to the latest annual data from the San Diego Tourism Authority.

From a Hacker’s Point of View, It Is a World of Weaknesses

TECH: In the Internet of Things, Security Is Often An Afterthought Due in Part To Missing Market Demand

Ted Harrington sees both peril and opportunity in the cybersecurity landscape.

Tease photo

From a Hacker’s Point of View, It Is a World of Weaknesses

TECH: In the Internet of Things, Security Is Often An Afterthought Due in Part To Missing Market Demand

Ted Harrington sees both peril and opportunity in the cybersecurity landscape.

Tease photo

CGS3’s Attorney Additions Bring Real Estate Expertise

Michael Cato has joined Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) as partner and Jamie Altman Buggy and Collin Waring as associate attorneys, expanding its commercial real estate practice.

Versant Ventures Launches Jecure Therapeutics With $20 Million Investment

San Francisco-based life-science investment firm Versant Ventures announced the formation of Jecure Therapeutics, a San Diego-based biotech company with a locally developed liver disease platform.

Port, Coastal Commission Clash Over Portside Pier Project

PROPERTY: Port Claims Development Is Non-Appealable

San Diego and California coastal officials are seeking to resolve a jurisdictional dispute that could delay the long-discussed redevelopment of the downtown waterfront site that was home to the recently closed Anthony’s Fish Grotto.

Tease photo

Qualcomm Unveils Quick Chips, and Extends Tender Offer for NXP Shares

Qualcomm Inc. has taken the wraps off of chips for extra-fast Wi-Fi radio communication. The San Diego business plans to go to market with an end-to-end solution, offering chips for both network infrastructure and client devices. Samples ought to be available in the first half of 2017, the company said.

Tease photo

Prostate Center of San Diego to Provide Investigational Procedure

MEDICINE: Owners See Market for Less Invasive Treatment

A German physician-scientist with a promising technique for treating prostate cancer has made La Jolla his beachhead for what he hopes will become a nationwide string of surgery centers.

Software Startup Partners With Samsung

Software startup Urban Translations has scored a partnership with Samsung Electronics that could set the San Diego company on a path for growth.

Tease photo

Renovate America Relocating Rancho Bernardo Headquarters

San Diego-based Renovate America Inc. has leased 160,000 square feet at Rancho Vista Corporate Center in Rancho Bernardo, where it plans to relocate its headquarters in September of this year, according to brokerage firm CBRE Group Inc.

Tease photo

Biocept Hires Ex-Trovagene Executive Michael Terry

Liquid biopsy company Biocept Inc. has hired ex-Trovagene executive Michael Terry to join their leadership team as senior vice president of commercial operations.

Closings Show Whole Foods Not Immune to Competitive Realities

Shoppers in Encinitas are about to witness something that has rarely been seen during the past 36 years: the closing of a Whole Foods Market.

Tease photo

Design Co. Doesn’t Fill Workspaces, It Helps Craft a Culture

DESIGN: Leader Doesn’t Lose Her Stride as She Meets Challenges, Changes

Eight years ago, with the Great Recession in full swing, the San Diego company where Anne Benge worked as president suddenly closed.

Tease photo

Pop-Up Stores Bring Lively Vibe to Mall Mix

RETAIL: Active Atmosphere Boosts Traffic, Helps Tenants

Pop-up stores may be short-term players in the retail space but they are providing long-term opportunities for malls and shopping centers.

Tease photo

Compromise Is Worth The Cost for Utilities

UTILITY: Sempra Subsidiaries’ Proposed Agreement Sets ROE

Leave it to a utility owner like Sempra Energy to eke out a bump in its stock price after negotiating away tens of millions of dollars in core revenue.

Local Angels Shore Up Risk With These Strategies

STARTUPS: Investors Share Advice on Maximizing Gamble

Like amateur traders in the stock market (expecting to win big on the next unicorn), nascent investors often imagine that angel investing will be their lottery ticket to wealth.

Surf Air to Begin Service Between San Diego and Los Angeles

Santa Monica-headquartered Surf Air, which offers unlimited flights to commuters who pay a monthly membership fee, plans to start new service between San Diego and Los Angeles this spring.

Tease photo

CEO Goes in Some Unusual Directions

On His Path, Commerce Must Intersect With Community

Ryan Sisson wasn’t like the people he surrounded himself with.

Tease photo

Wednesday, February 15

S.D. Small Businesses Generally Bullish on Economy, Survey Finds

More than half of the small business owners in San Diego who participated in Union Bank’s Small Business Economic Survey believe the national economy, the local economy and the country as a whole are headed in the right direction.

City Signs Economic Agreement With French Province

San Diego has reached an agreement to cooperate economically with the southern French province of Provence-Alpes-Côte d’Azur.

QED Systems' San Diego Operation to Share $33.5 Million Navy Contract

The U.S. Navy recently exercised an option giving Virginia Beach, Va.-based QED Systems Inc. a one-year, $33.5 million deal to plan shipyard visits by Navy ships.

San Diego Increases Number of Electric Vehicle Charging Stations

San Diego has more than doubled its number of electric vehicle charging ports, Mayor Kevin L. Faulconer and other city officials announced Feb. 15.

Franklin Wireless Corp. Reports Q2 Net Income of $525,000

Franklin Wireless Corp. reported net income of $525,000 on net sales of $14.4 million during its second quarter, which ended Dec. 31.

Accounting Firm LevitZacks Relocating Downtown Headquarters

Locally based accounting firm LevitZacks plans to relocate its downtown headquarters to new offices at 450 B St. in downtown San Diego,according to brokerage firm JLL.

Tease photo

Seacoast Plans to Hold More SBA Loans to Boost Long-Term Value

Seacoast Commerce Banc Holdings, parent company of Seacoast Commerce Bank, plans to decrease its sales of Small Business Administration loans, a move that will reduce earnings but set the stage for greater long-term shareholder value, the company said Wednesday.

Manchester Explores Privately Financed NFL Stadium in Mission Valley

Developer Douglas Manchester has written to the National Football League, expressing interest in developing a privately financed stadium on the current Mission Valley site of Qualcomm Stadium.

Tuesday, February 14

NucleusHealth Announces Pilot Project With Dana-Farber/Harvard Cancer Center

NucleusHealth, a cloud-based medical image management company based in San Diego, said it is working on a pilot project with the Dana-Farber/Harvard Cancer Center in Boston.

BAE Systems Dedicates New Dry Dock

BAE Systems Ship Repair in Barrio Logan dedicated its new dry dock and revealed its name during a ceremony on Feb. 11. The 950-foot floating repair facility will be called the Pride of California.

San Diego’s Second-Oldest Credit Union Names New CEO

San Diego Metropolitan Credit Union announced Tuesday that Lisa Paul-Hill will succeed retiring president and CEO Stan Abrams as head of the financial institution.

San Diego Among Top 20 U.S. Markets for Construction Starts

San Diego County ranks at No. 20 among the nation’s 20 largest markets for the value of commercial and multifamily construction starts during 2016, according to a new report by research firm Dodge Data & Analytics.

Brokerage Firm NGKF Relocating to One La Jolla Center

Commercial brokerage firm Newmark Grubb Knight Frank (NGKF) is relocating its San Diego operations to Irvine Company’s One La Jolla Center office tower in University Towne Center.

Tease photo

Ionis Earns $75 Million from Bayer

Carlsbad drugmaker Ionis Pharmaceuticals Inc. is receiving a $75 million payment from its partner Bayer to advance two anti-blood-clotting programs.

Santee Retail-Office Property Sells for $3 Million

Narwhal Holdings LLC of San Diego has acquired a Santee retail and office property for approximately $3 million, according to brokerage firm Retail Insite.

Tease photo

Monday, February 13

Retrophin Brings on Ex-Ardea Executive to Lead R&D

Local biotech Retrophin Inc. has hired William “Bill” Rote as senior vice president of research and development.

NextLevel Internet Hires Two VPs

San Diego-based NextLevel Internet said it has hired Clive Harrison as vice president of business development and Derek Gietzen as vice president of account management.

Lockheed's San Diego Operation to Share Navy Contract

A recently awarded U.S. Navy contract means that Lockheed Martin Corp. will perform a little more than $12 million worth of work in San Diego through early 2021.

2017 CFO OF THE YEAR AWARDS – FINALISTS ANNOUNCED

Each year, the San Diego Business Journal honors the financial wizards who work behind the scenes — the chief financial officers. Now in its 11th year, the CFO of the Year Awards recognizes contributions to company growth, leadership and community involvement by top financial executives in the San Diego area. A panel of independent judges, drawn from the region's top financial leaders, will select candidates who overcame unique challenges and stood apart in the ranks of local CFOs.

San Marcos Senior Housing Communities Sold for $44.25 Million

Charleston, S.C.-based Greystar has acquired two senior housing communities in San Marcos for a total of $44.25 million, according to brokerage firm Berkadia.

Tease photo

NuVasive Posts Record Revenue of $962.1 Million for 2016

Local medical device maker NuVasive Inc. reported strong financial performance for 2016, indicating good times are ahead for 2017.

Atlas Report: Local Hotel Property Deal Volume Down 67.8 Percent in 2016

San Diego County saw hotel property sales volume in 2016 decline 67.8 percent from the prior year, to $473.1 million, as the number of completed deals dropped from 30 to 21, according to the latest annual California data from Atlas Hospitality Group.

Tease photo

Sunday, February 12

The Pendry San Diego Hotel Opens Its Doors in Gaslamp Quarter

The upscale $120 million Pendry San Diego hotel has officially opened in downtown San Diego’s Gaslamp Quarter, after more than two years of construction at 550 J St.

Tease photo

Illumina Adds Three Startups to Accelerator Program

Local science technology company Illumina Inc. has added three new startups to its accelerator program, which mentors and invests money into early-stage companies in the genomics technology space.

Business Journal Opens Nominations for Most Admired CEO Awards

Nominations for the San Diego Business Journal’s 2017 Most Admired CEO Awards are now open.

Westcore Properties Buys Salt Lake City Industrial Building for $7.15M

San Diego-headquartered Westcore Properties has acquired a Salt Lake City industrial property for approximately $7.15 million, marking the company’s entry into the Utah city’s marketplace.

Tease photo

Life Science Leasing Footprint Increases 1.1 million Square Feet

The leasing footprint of San Diego life sciences companies grew by nearly 1.1 million net square feet in 2016, according to a year-end report from brokerage firm JLL.

The Business Calendar for the Week of February 13, 2017

Some of the business events planned in the county for the week of February 13, 2017, and beyond.

Cubic Corp. Reports Q1 Results

Cubic Corp. reported a net loss of $2.9 million on revenue of $334.7 million during its first quarter, which ended Dec. 31.

LRAD Reports Revenue of $2.9M for Q1

LRAD Corp. — which produces mass-communication devices for militaries and police agencies worldwide — reported a net loss of $813,000 on revenue of $2.9 million in the first quarter, which ended Dec. 31.

Kuruvilla Named CEO at Managed Solution

San Diego-based information technology company Managed Solution has appointed former CLARK Security Products President Susan Kuruvilla to be its new CEO.

Greater San Diego Association of Realtors, Serbian Real Estate Group Establish 'Honorary Reciprocal Affiliation'

The Greater San Diego Association of Realtors, the county’s largest real estate trade association, announced Friday that it has established an “honorary reciprocal affiliation” with the Real Estate Cluster of Serbia, a Serbian real estate association.

Pacific Ship Repair and Fabrication Awarded $17.5M Navy Contract

The U.S. Navy announced Feb. 9 that it awarded San Diego-based Pacific Ship Repair and Fabrication Inc. a $17.5 million contract modification, exercising an option to repair and alter the Arleigh Burke-class destroyer USS Momsen.

Department of Energy Grant Backs Project Being Overseen By Sempra Subsidiary

The U.S. Department of Energy has pledged up to $1.2 million in federal money to a wastewater demonstration project partly funded and overseen by a subsidiary of San Diego-based Sempra Energy.

Friday, February 10

LeadCrunch Raises $425,000

Local startup LeadCrunch raised $425,000 in a financing round announced in October, $75,000 less than the company originally reported.

Susan Kuruvilla Named CEO at Managed Solution

San Diego-based information technology company Managed Solution has appointed former CLARK Security Products President Susan Kuruvilla to be its new CEO.

Tease photo

S.D. Life Science Leasing Footprint Increases 1.1 million Square Feet

The leasing footprint of San Diego life sciences companies grew by nearly 1.1 million net square feet in 2016, according to a year-end report from brokerage firm JLL.

Westcore Buys a Salt Lake City Industrial Building for $7.15 Million

San Diego-headquartered Westcore Properties has acquired a Salt Lake City industrial property for approximately $7.15 million, marking the company’s entry into the Utah city’s marketplace.

Tease photo

Greater San Diego Association of Realtors and Serbian Real Estate Group Establish Cooperative Relationship

The Greater San Diego Association of Realtors, the county’s largest real estate trade association, announced Friday that it has established an “honorary reciprocal affiliation” with the Real Estate Cluster of Serbia, a Serbian real estate association.

Pendry San Diego Hotel Opens Its Doors in Gaslamp Quarter

The upscale $120 million Pendry San Diego hotel has officially opened in downtown San Diego’s Gaslamp Quarter, after more than two years of construction at 550 J St.

Tease photo

Cubic Corp. Reports Its Q1 Results

Cubic Corp. reported a net loss of $2.9 million on revenue of $334.7 million during its first quarter, which ended Dec. 31.

Nominations Are Open for San Diego Business Journal’s 2017 Most Admired CEO Awards

Nominations for the San Diego Business Journal’s 2017 Most Admired CEO Awards are open.

Thursday, February 9

UC Regents Buy 4 San Diego Office Buildings for $83.5 Million

The Oakland-based Regents of the University of California have acquired a four-building office portfolio in San Diego’s Governor Park neighborhood for approximately $83.5 million, according to CoStar Group and public data.

Tease photo

Hillcrest Apartment Complex Sells for $14.75 Million

San Diego-based Structure LP has acquired a 25-unit luxury apartment complex in the city’s Hillcrest neighborhood for $14.75 million, according to brokerage firm CBRE Group Inc.

Tease photo

Donors Give $1.8 Million to Establish USD Center

The University of San Diego announced Thursday the creation of the Center for Ethics, Economics and Public Policy.

S.D. Median Home Price Slips to $559,500 in January

San Diego resale home prices dipped in January as a seasonal shift dragged down the region’s sales activity, the Greater San Diego Association of Realtors reported.

ViaSat Reports Earnings, Announces Launch Date for Satellite

ViaSat Inc. reported net income of $4.2 million on revenues of $380.6 million for its third quarter, which ended Dec. 31.

Time to Cultivate Talent for Future STEM Jobs

“What do you want to be when you grow up?” It’s a question we ask children from the time they’re capable of responding. Their answers tend to reflect some of the professions they’ve observed, either on TV or in real life. Often times, it will involve some kind of cool outfit or hat — or maybe the novelty of fame. A movie star. A baseball player. A ballerina. The president.

Tease photo

Sharp, SuperFood Make Nutrition a Priority in Food Drive

SuperFood Drive, a San Diego-based nonprofit, announced a partnership with Sharp HealthCare to emphasize the importance of giving nutritious, sustaining foods to the county’s food insecure. Sharp HealthCare has supported the San Diego Food Bank through holiday food drives for many years. This year, Sharp decided to take it a step further by encouraging nonperishable food donations which are not just filling but also highly nutritious.

Tease photo

Intimate Condo Tucked Into Big Charms of Rancho Santa Fe

There are many appealing aspects to living in the community of Rancho Santa Fe, chief among them is the Village of Rancho Santa Fe. Right in the center of the 10-mile square community, the commercial district is filled with shops, restaurants, schools and other conveniences for its residents. Far from the hustle and bustle of the nearby beach communities, the Village is a charming and inviting place.

Tease photo

Trade-Offs Work for Hospital-Affiliated Physician Group

MEDICINE: Separation Of Business and Medicine Doesn’t Stoke Contention

There’s an unofficial motto at San Diego’s Sharp Rees-Stealy Medical Group: Patients first, group second, individual physicians third.

Tease photo

Solo Practice Can Come With Big Demands and Big Rewards

MEDICINE: Specialties Often More Suited to Independent Route

Years ago, when Dr. Melanie Palm told fellow physicians she was considering opening her own medical practice, she remembers several being “somewhat trepidatious” about the idea.

Tease photo

IPAs Offer Doctors Autonomy With Right Dose of Solidarity

MEDICINE: Regulatory And Overhead Burdens Handled as a Group

Dr. Marc Sedwitz misses the good ol’ days when physicians would be called to work in the middle of the night.

Tease photo

Cigna Collaboration Gives Scripps Testing Ground for Own HMO

MEDICINE: Scripps Select Puts Health System, Insurer In Closer Coordination

Ask an executive at Scripps Health to describe what’s special about the company’s most recent collaboration with Cigna, and you’re likely to hear the same analogy Cigna uses: It gives the San Diego integrated health system a seat at the table in insurance negotiations with employers.

Tease photo

Choosing a Practice Model Is Both a Business and a Personal Decision

Local Health Care Climate Often Leads to an Affiliation With Only One of the Large Health Systems

Perhaps the biggest impact physicians have on a region’s health care industry occurs the moment they decide how to structure their medical practice.

Tease photo

Vividion’s Backers Give It Good Starting Point With $50M

BIOTECH: Spun Out of TSRI, Co.’s Biotech to Tap Genetic Advances

A recent infusion of cash launched a local biotech out of stealth mode with the biggest VC backing of the year so far in San Diego.

Tease photo

California Dreaming of Cheaper Waterfront Hotels

It’s always been an admirable goal in theory. But 2017 could be the year when California officials get specific when they call on developers and communities to put up more affordable hotel rooms in coastal-adjacent neighborhoods.

Tease photo

Executive Q&A Mary Long, University of San Diego

Chicago, Dallas, Oakland, Florida, Cincinnati, Minneapolis, New Jersey. Mary Long’s career with major food manufacturers has taken her all over the map. She spent that time overseeing transportation, logistics and supply chain issues for big businesses such as Campbell’s Soup Co., General Mills and Pepsico. She recently left a vice president’s job with Domino’s Pizza Inc. in Ann Arbor, Mich. and made a detour — into academia.

Tease photo

Fiduciary Rule Debate Shed Light on Advisory Practices

FINANCE: Regulation’s Implementation Could Be Delayed or Even Scrapped

Even if the Trump administration rescinds the U.S. Department of Labor’s proposal to require advisers providing retirement investment advice to avoid conflicts of interest, such as receiving commissions based on their recommendations, at least it will have made more potential clients familiar with the term “fiduciary.”

Tease photo

DJO Global Getting into Software

Another local medical device firm is dabbling in software.

Plasso Builds Support For Booming SaaS Economy

Software-as-a-service is a phrase you’re probably tired of hearing, along with its ubiquitous acronym SaaS.

Tease photo

Navy Still On Board For New Arresting Gear on Carriers

They said it before, and U.S. Navy officials said it again: General Atomics’ new arresting gear — which goes by the initials AAG — belongs on the Navy’s next aircraft carriers.

Tease photo

Mediation’s Pluses Add Up Versus Costs, Contention of Court

LAW: Quick Resolution, Less Publicity Often Important Factors

Things were about to get ugly fast. Paperwork had already been drawn up for a wrongful termination lawsuit pitting a former San Diego-area CEO against his privately held former employer. Both sides were bracing for a crush of negative publicity.

Tease photo

VAVi Faced Its Own Obstacle Course

SPORT: Biz Community Rallies To Rescue Co.’s Big Event

Recreational sports league and events organizer VAVi Sport & Social Club was looking to make a big splash at its first major international competition, a 20,000-person race Feb. 4-5 in Sydney, Australia.

Tease photo

Talk of H-1B Changes Has Companies on Edge

LAW: 3,500 Visa Holders Seen As Vital to Innovation Economy

Not just anyone could have filled last year’s opening at Genben Lifesciences Corp. Founder Li Shen was looking for a bioinformatics scientist capable of applying advanced mathematical analysis to the human genome.

Luxury Hotels Expect Good Nights Ahead

TOURISM: New Properties Cater to Selective Clientele

San Diego County’s hotel industry just completed six consecutive years of post-recession recovery. Operators of the newly opened Pendry San Diego — the first of at least three new high-end hotels set to arrive downtown — are betting their property has what it takes to keep that momentum going on the luxury side.

Tease photo

Whole Foods Market Closing Store in Encinitas

Grocer Whole Foods Market Inc. announced that it is closing nine underperforming stores in seven states, including its store in Encinitas.

Tease photo

Startup Leaders Balk at Immigration Ban, Write Open Letter

Startup leaders in San Diego have published an open letter expressing concerns about President Donald Trump’s immigration ban and its potential impact on the local startup economy.

Tease photo

Avoiding Hazards

SPORT: Callaway’s Acquisition Strategy Diversifies Options Into Tangential Areas

Callaway Golf Co. will no longer be strictly defined by the game where the person sends the little white ball in the general direction of a hole.

Tease photo

Business Calendar for Week of February 13, 2017

Some of the business events scheduled in the county for the week of February 13, 2017, and beyond.

Wednesday, February 8

Tim Wiseman Appointed President/COO of Pro Performance Sports

Pro Performance Sports has named Tim Wiseman as its president and COO.

Officials Mark Completion of $3.9M Renovation of Lyceum Theatre

Operators of downtown San Diego’s Lyceum Theatre recently marked the completion of a $3.9 million renovation of the performing arts venue.

LRAD Logs Orders to Chinese, Japanese Customers

LRAD Corp. started the month of February by announcing a group of international orders totaling more than $1 million.

Sanborn Appointed to Fed's Advisory Council

The Federal Reserve Bank of San Francisco announced that it has appointed Richard M. Sanborn, president and CEO of San Diego's Seacoast Commerce Bank, to the Twelfth District’s Community Depository Institutions Advisory Council.

REI, Anthropologie Leave Chula Vista Mall

Mall owner General Growth Properties Inc. is in the process of refilling two slots recently vacated by retailers REI and Anthropologie at Chula Vista’s Otay Ranch Town Center.

Former San Diego Exec Leads New Virtual Accelerator

Boulder, Colo.-based Techstars, one of the largest and most popular startup accelerators in the country, is launching its first “virtual startup accelerator.” The experimental program has some significant ties to San Diego, including a local resident leading the project and a San Diego startup that earned a spot in the first cohort.

Tease photo

Tuesday, February 7

FDA Grants Angionetics' Therapeutic Candidate Fast-Track Status

Local gene therapy company Angionetics Inc. has been granted a Fast Track designation from the U.S. Food and Drug Administration for its lead drug candidate Generx.

Downtown Works Co-Founder Launches Startup Accelerator

The co-founder of new coworking space Downtown Works is launching a startup accelerator to drive urban modernization in San Diego.

Tease photo

L’Auberge Del Mar Completes $4 Million Redesign

L’Auberge Del Mar recently completed a $4 million redesign of the luxury hotel’s guest rooms and meeting spaces.

Tease photo

San Diego Firm Buys Oceanside Retail Center for $14.2 Million

San Diego-based Pacifica Cos. has acquired the Best Plaza retail center in Oceanside for $14.2 million, according to brokerage firm Cushman & Wakefield.

Tease photo

Pathfinder Acquires Two Colorado Apartment Properties for $24M

Pathfinder Partners of San Diego has purchased two adjacent apartment communities in Boulder, Colo., for a total of $24 million.

Tease photo

Local Economic Index Makes Big Gain in December

Broad gains across an array of local and national factors in December pushed the University of San Diego Burnham-Moores Center for Real Estate’s Index of Leading Economic Indicators to its highest level since August 2006.

Move Downtown Gives Fident Capital Room to Grow

San Diego-based real estate investment bank Fident Capital has relocated from La Jolla to a larger office in downtown San Diego.

PriceSmart Inc. Announces New Costa Rica Outlet

PriceSmart Inc., which operates a chain of discount warehouse club stores in Central America and the Caribbean, announced plans to open its seventh outlet in Costa Rica.

Index Forecasts 10.3% Home Price Increase in San Diego for 12 Month Period

San Diego home prices posted moderate gains in December and are poised to rise substantially in 2017, according to the latest CoreLogic Home Price Index.

Project Concern International Names CEO

Carrie Hessler-Radelet, who led the Peace Corps from 2013 until January, has been named president and CEO of Project Concern International, the San Diego-based international development organization.

GreatCall Leases New Location to Accommodate Expansion

San Diego-based GreatCall Inc. has leased a 61,000-square-foot space in Carlsbad it plans to expand into in May.

Monday, February 6

Callaway Golf Posts Q4 Net Income of $123.3 Million

Callaway Golf Co. reported fourth-quarter net income of $123.3 million on net sales of $163.7 million. The business reported its quarterly financial results on Feb. 2.

Baby Food Maker Raises $3.1 Million in Series A Round

Local baby food upstart Once Upon a Farm has raised $3.1 million in a Series A round, paving the way for the company’s expansion into new regions.

Tease photo

Civic San Diego Awards $250,000 to Mircolender Accion

Nonprofit microlender Accion San Diego has been awarded $250,000 by Civic San Diego, a nonprofit public benefit corporation created by the city of San Diego.

Kai Ramer Becomes First COO at Rick Engineering

San Diego-based Rick Engineering Co. has appointed Kai Ramer as its first chief operating officer.

Tease photo

Navy Awards BAE Systems $26.7 Million Contract

The U.S. Navy awarded BAE Systems San Diego Ship Repair a $26.7 million contract modification covering work on the dock landing ship USS Harpers Ferry.

Owners of San Marcos Retail Center Obtain $92M Refinancing

Owners of the Grand Plaza retail center in San Marcos have obtained $92 million in refinancing, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

Alysse Cooper Promoted to President at ICE

Innovative Commercial Environments, a San Diego-based furniture dealership, has promoted Alysse Cooper to president.

Tease photo

San Diego Firm Acquires Del Mar Plaza Retail Center

San Diego’s Brixton Capital has acquired the Del Mar Plaza retail center in downtown Del Mar, though the price was not immediately disclosed. According to CoStar Group, the property at 1555 Camino Del Mar last sold for $41.6 million in 2010.

Tease photo

Group Buying Genoptix’s Diagnostic Business

BIOTECH: Novartis To Retain Part of Co. Under New Name

Ownership of the Genoptix name is changing hands again as the company’s commercial laboratory is peeled off from its other operations in Carlsbad.

Tease photo

Sunday, February 5

Renovate America Obtains $100M Credit Facility

San Diego-based Renovate America has completed a $100 million credit facility with Credit Suisse, the company announced.

Qualcomm, TDK Launch Joint RF Venture

Qualcomm Inc. is making a splash in the RF, or radio frequency, area of electronics.

Acadia's Stock Gets Boost From Speculation of Possible Acquisition

The stock of San Diego drugmaker Acadia Pharmaceuticals Inc. is on the rise Feb. 3 following speculation of a takeover bid by Big Pharma AstraZeneca.

GA ASI Awarded $11.9M Royal Air Force Contract

General Atomics Aeronautical Systems Inc. has a new contract to provide the U.K. Royal Air Force with spare parts and support equipment for the U.K.’s fleet of remotely p

San Diego Firm Buys Three Local Office Properties for $76.95 Million

The Casey Brown Co. of San Diego has acquired three local office properties for a total of $76.95 million, according to brokerage firm CBRE Group Inc.

Tease photo

The Business Calendar for the Week of February 6, 2017

Some of the business events scheduled in the county for the week of February 6, 2017, and beyond

Silvergate Bank Reports 2016 Earnings of $8.1 Million

La Jolla-based Silvergate Bank reported fourth-quarter net income of $2.4 million, up 41 percent from $1.7 million in the final quarter of 2015.

Zephyr Breaks Ground on $185M Condo Development in Dana Point

San Diego-based developer Zephyr recently broke ground on South Cove, the company’s $185 million luxury condominium community in Dana Point.

Tease photo

Cubic Transportation Awarded $1.1M Contract Extension With University

Cubic Transportation Systems said Feb. 1 that it received a $1.1 million, five-year contract extension with the University of Maryland to upgrade the university’s NextBus fleet management system.

Neighborhood Bancorp Completes Recapitalization Agreement

San Diego-based Neighborhood Bancorp, parent of Neighborhood National Bank, has completed the recapitalization agreement announced in late 2016.

Friday, February 3

Zephyr Breaks Ground on $185M Luxury Condo Project in Dana Point

San Diego-based developer Zephyr recently broke ground on South Cove, the company’s $185 million luxury condominium community in Dana Point.

Tease photo

San Diego Firm Buys 3 Local Office Properties for $76.95 Million

The Casey Brown Co. of San Diego has acquired three local office properties for a total of $76.95 million, according to brokerage firm CBRE Group Inc.

Tease photo

Renovate America Completes $100 Million Credit Facility

San Diego-based Renovate America has completed a $100 million credit facility with Credit Suisse, the company announced this week.

Qualcomm and TDK Launch Joint RF Venture

Qualcomm Inc. is making a splash in the RF, or radio frequency, area of electronics.

Acadia's Stock Gets Boost From Speculation Over Possible Acquisition

The stock of San Diego drugmaker Acadia Pharmaceuticals Inc. is on the rise Feb. 3 following speculation of a takeover bid by Big Pharma AstraZeneca.

Business Calendar for Week of February 6, 2017

Some of the business events planned in the county for the week of February 6, 2017, and beyond.

Silvergate Records 19th Consecutive Year of Profitability

La Jolla-based Silvergate Bank reported fourth-quarter net income of $2.4 million, up 41 percent from $1.7 million in the final quarter of 2015.

GA ASI Gets $11.9 Million Royal Air Force Contract

General Atomics Aeronautical Systems Inc. has a new contract to provide the U.K. Royal Air Force with spare parts and support equipment for the U.K.’s fleet of remotely piloted MQ-9 Reaper aircraft.

Cubic Transportation Awarded $1.1 Million Contract Extension With University

Cubic Transportation Systems said Feb. 1 that it received a $1.1 million, five-year contract extension with the University of Maryland to upgrade the university’s NextBus fleet management system.

Thursday, February 2

Ionis Earns $5 Million from Biogen

Local drugmaker Ionis Pharmaceuticals Inc. has earned $5 million in a milestone payment from Biogen, a global giant in biotechnology and one of Ionis’ many partners.

Vividion Therapeutics Raises $50 Million

Local biopharmaceutical company Vividion Therapeutics has raised $50 million in a Series A funding round. The funding was led by two top-tier venture capital firms, ARCH Venture Partners and Versant Ventures, and also included Cardinal Partners.

Crafting a Growth Strategy Ahead of Consolidation

There have been a number of recent sales of and investments in high-profile craft breweries in San Diego. The most notable was the sale of Ballast Point Brewing & Spirits to Constellation Brands for $1 billion. Saint Archer Brewing was also sold to MillerCoors for an undisclosed price, and a number of local San Diego craft breweries received investments in the past year, including a $90-million investment by the private equity firm, VMG Partners, in Stone Brewing Co.

Tease photo

Two Apartment Properties Change Hands in San Diego

Two San Diego apartment properties recently got new owners in separate deals, including an 11-unit complex in the city’s Talmadge neighborhood that sold for approximately $2.93 million.

Tease photo

Community Effort Puts a Lot of Food on San Diego Tables

Feeding San Diego announced that it raised more $700,371, equating to 2,801,000 meals, in partnership with ABC10, sister station Azteca San Diego 15 and Live Well San Diego during the fourth annual Month of a Million Meals campaign. Exceeding the original goal by more than 1,800,000 meals, the 2016 holiday push included a live telethon and support from several local celebrities. San Diegans donated food, time and funds to support the 1 in 8 San Diegans, including 1 in 5 children, struggling with hunger.

Tease photo

Framing Nature’s Beauty

Designed by San Diego architect Wallace Cunningham, this sculptural, three-dimensional home sits atop an earthen pedestal overlooking the lush valleys and hillsides beyond. A series of structural fin walls are separated by seamless glass, skylights and clerestories that create a serene pattern of light and shadow in the interior. Designed to optimize the views and create complete privacy, this home is an incomparable masterpiece of light and space.

Tease photo

Flavio Olivieri Named Executive Director of Cali-Baja Association

Digital health executive Flavio Olivieri has been appointed executive director of the Cali-Baja Binational Mega-Region Association, a coalition of businesses and government agencies promoting economic development on both sides of the U.S.-Mexican border.

Tease photo

Cars ‘Talking’ to Each Other Could Say a Lot About Drivers

Eyes on the Road? Vehicle-to-vehicle communication is coming to a roadway near you in a few years. While the federal government says the technology promises to prevent hundreds of thousands of collisions yearly once enough vehicles are properly equipped, some see a darker side.

Tease photo

Philadelphia Firm Buys Chula Vista Industrial Property for $16.9 Million

Philadelphia-based Exeter Property Group has acquired a two-building industrial property in Chula Vista for approximately $16.9 million, according to brokerage firm Colliers International Group Inc.

Tease photo

LEAVES: Costs of More Inclusive Policies Add Up Fast

Absorbing Big Change on a Small Scale

San Diego made a splash in June when it passed an ordinance requiring employers of any size to provide employees with five paid sick days a year, exceeding the three mandated by state law. This, coupled with several other recent changes to protected leave laws, continues to drive a wedge between policymakers and small to medium-sized businesses in a classic case of Catch 22.

Tease photo

Absorbing Big Change on a Small Scale

WAGES: Micro Businesses Have Limited Staffing Options

Businesses within San Diego’s hospitality industry are looking for ways to absorb the costs of the city’s increased minimum wage and sick leave benefits.

Tease photo

New Partners Bring Employment, Labor Law Expertise

Joanne Alnajjar Buser and Jeffrey P. Michalowski are new partners at Paul, Plevin, Sullivan & Connaughton. Buser worked as a labor and employment lawyer in New York City prior to joining the firm in 2014. She was named to the San Diego Business Journal’s Best of the Bar in 2016. She is the chairwoman of the Labor & Employment Section of the San Diego County Bar Association. Her practice is focused on representing employers, providing advice and defending a wide range of employment-related litigation.

Apartment Investment Market Still in Top 10

The San Diego region slipped a few notches from a year ago, but retains its status among the Top 10 most desirable U.S. apartment investment markets in 2017. That’s according to the latest annual Multifamily Investment Forecast by brokerage firm Marcus & Millichap, which places San Diego at No. 9 in this year’s ranking of 46 major metro regions.

Tease photo

For Aisle Planner, Wedding Planning And Technology Make a Perfect Couple

Fintech has officially earned a place in the business lexicon, alongside biotech and bluetech (as we speak, beertech and weedtech are elbowing their way in).

Tease photo

Career Paths and Flight Paths Can Cross Paths at Drone Facility

TECH: University’s New Indoor Proving Ground May Be Catalyst for Sector

A space billed as San Diego’s first indoor drone testing facility opened at Coleman University on Kearny Mesa Jan. 26 with an unconventional snip of a ribbon.

Tease photo

Approved Sees Ways to Make Mortgage Loan Process Better

TECH: Co. Attempts To Streamline Process, Document Collection

Real estate websites such as Redfin and Zillow have made it easy for prospective homebuyers to narrow their options without having to leave the couch.

Tease photo

S.D. Is Already Game For Soccer in Town

SPORT: Leagues, Tournaments And Tourists Show Enthusiasm

Investors pushing to bring Major League Soccer to San Diego have not yet made the sale.

Tease photo

Border Terminal Has a Good Problem: Crowds

TRAVEL: Xpress’ 1.3M Users Beat Expectations for Traffic

Operators say demand is running well ahead of expectations for the $120 million, privately funded Cross Border Xpress, which opened in December 2015 in Otay Mesa.

Tease photo

Lights, Camera, Cloud: Company’s Video Is Legal Aid

TECH: Deposition Process Improves Access, Affordability

No one said depositions are fun, but is it too much to ask the videographer to stay awake during the proceedings?

Tease photo

GroundMetrics Eyes the Underground Market

TECH: Its Geophysical Images Used in Energy Exploration

Finding anything under the Earth’s surface is a tricky and often costly endeavor; doing it amid dust storms and camels in the Saudi Arabian desert can be even more trying. That is where San Diego startup GroundMetrics Inc. set out to prove to the world’s largest oil company that its technology works.

Tease photo

Work Starting on $16M Utilities Plant at Rancho Bernardo Campus

Owner Swift Real Estate Partners this month will begin construction on a new $16 million central utilities plant at its recently acquired office campus in Rancho Bernardo, according to Level 10 Construction, the project’s general contractor.

Qualcomm Ventures Helps Fund Boston Tech Co.

Qualcomm Inc.’s growing interest in the automotive world is evident in a recently announced funding round that includes Qualcomm Ventures.

Chargers Pay City $12.5M to Officially Terminate Stadium Lease

The former San Diego Chargers have wired the city more than $12.5 million, to satisfy the early-termination clause of the team’s contract to use the city-owned Qualcomm Stadium in Mission Valley.

Wednesday, February 1

Qelzal Corp. Receives Coveted NSF Grant

San Diego-based Qelzal Corp., which makes an innovative sensor technology that can help drones avoid collision, has received a $224,950 small business innovation research grant from the National Science Foundation. The company made the announcement in January.

Two North County Commercial Properties Acquired for $3.85 Million

Stos Partners of Encinitas has acquired two North County commercial properties for a total of $3.85 million, the company announced.

Tease photo

Marketing Tech Co. Raises $3 Million in Equity Round

San Diego startup Empyr, a marketing technology company, has raised $3 million in an equity round, according to a regulatory form filed with the U.S. Securities and Exchange Commission Wednesday.

Work Starts on $11M Restoration of Belmont Park’s Plunge Pool Facility

San Diego-based Pacifica Enterprises has broken ground on a long-anticipated, $11 million renovation and restoration of the historic Plunge swimming pool at Belmont Park in Mission Beach.

Tease photo

SDG&E Partners With Israeli Fuel Cell Manufacturer

San Diego Gas & Electric Co. is working with an Israeli maker of hydrogen-based fuel cells to install back-up power systems at some of the utility’s substations.

San Diego Gained Construction Jobs in December, Industry Group Says

The San Diego metro area gained 400 construction jobs in December 2016 over the same month in 2015, according to an analysis of federal employment data released Wednesday by the Associated General Contractors of America.

Illumina's Q4 Revenue of $619M Exceeds Expectations

Illumina Inc. exceeded Wall Street’s expectations Tuesday when the medtech company reported its fourth quarter revenue was up 5 percent.

Vista-Based Independent Energy Solutions Suspends Operations

North County solar engineering and construction firm Independent Energy Solutions Inc. has gone out of business.

Five Local Properties Make 2017 AAA Five Diamond List

Four San Diego County hotels are included in the annual AAA listing of the nation’s Five Diamond hospitality properties. The list also includes one local hotel restaurant.

Tease photo