Stories for July 2017

Monday, July 31

Cubic Receives Contract Extension for Transit Fare Payment System

Cubic Transportation Systems announced a contract extension of up to five years from the Metropolitan Transportation Commission (MTC) for operations and maintenance services supporting the regional Clipper card fare payment system in the San Francisco Bay Area.

Lauren Prescott Named Director of Investor Relations

The San Diego North Economic Development Council (SDNEDC) has tapped Lauren Prescott as its new director of investor relations.

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Sorrento Mesa Industrial Campus Sold for $20.1 Million

An affiliate of Miami Beach, Fla.-based Jewell Capital LLC has acquired a three-building industrial campus in Sorrento Mesa for $20.1 million, according to CoStar Group and public data.

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Organovo Awarded 3-Year, $1.7M NIH Grant

San Diego-based 3-D bioprinting company Organovo Holdings Inc. said Monday it was awarded a three-year, $1.7 million grant from the National Institutes of Health to study non-alcoholic fatty liver disease (NAFLD) with researchers at the UC San Diego School of Medicine.

Cibus Raises Over $57 Million

Local agtech company Cibus has raised over $57 million in an equity round, according to paperwork the company filed with the U.S. Securities and Exchange Commission.

Construction Begins on $52M Industrial Project in Oceanside

Developer McDonald Property Group recently broke ground on a two-phase industrial complex within Pacific Coast Business Park in Oceanside. Company President Bruce McDonald said the estimated cost of the four-building project at full build-out is $52 million.

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Trovagene Settles Lawsuit With Former Execs

Local medical test maker Trovagene Inc. has resolved a year-long legal dispute between the company and its former chief executive officer and former chief financial officer.

Clinical Trial Results Prove Positive For Samumed

Samumed, the San Diego biotech with a $12 billion valuation, has wrapped up a mid-stage clinical trial that has the company optimistic about its future.

Sunday, July 30

U.S. Soccer Development Academy Names S.D. Multiyear Host of Summer Playoff Events

The Chicago-based U.S. Soccer Development Academy, billed as the nation’s leading soccer program for elite youth soccer players, announced that it will host its signature summer event in the San Diego region beginning in 2018, as part of a multiyear agreement with venue operators.

Ballast Point Brewing to Open Chicago Venue in 2018

San Diego-based Ballast Point Brewing Co. plans to open a tasting room and kitchen early next year in Chicago, which will be the beer-maker’s first location in the Midwest.

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County Economic Index Increases 0.8% in June

A local index of leading economic indicators for San Diego County rose more in June than it has since April 2015.

Three Takeaways From BofI Federal Bank’s Earnings Report

BofI Holding Inc., the holding company for La Jolla-based BofI Federal Bank, reported earnings July 27 for the three months ending June 30, which for BofI was the fourth quarter of its 2017 fiscal year. Here are three takeaways:

BofI Holding Inc. Reports Q4 Net Income of $32.5M for FY2017

La Jolla-based BofI Holding Inc., parent company of BofI Federal Bank, reported $32.5 million in net income in the fourth quarter of its 2017 fiscal year, which ended June 30, a year-over-year increase of 9.5 percent.

Kratos Reports 10.4% Increase in Q2 Revenue

Kratos Defense & Security Solutions Inc. reported a net loss of $6.2 million but strong revenue growth in its second quarter of 2017.

Orchard Supply, DKNY, Snooze and Chipotle Expand Locally

Retailers Orchard Supply Hardware and DKNY, along with restaurant chains Chipotle Mexican Grill and Snooze, an A.M. Eatery, all recently announced new locations in San Diego County.

The Business Calendar for the Week of July 31, 2017

Some of the business events scheduled in the county for the week of July 31, 2017, and beyond.

Senomyx Inc. Reports Q2 Results

Public biotech and flavor enhancer company Senomyx Inc. reported down revenue for the second quarter of this year.

Santee Apartment Property Sells for $13 Million

CVG Properties Inc. of Solana Beach has acquired a 70-unit apartment property in Santee for $13 million, according to the seller, San Diego-based investment and development firm SENTRE.

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Friday, July 28

3 Takeaways From BofI Federal Bank’s Earnings Report

BofI Holding Inc., the holding company for La Jolla-based BofI Federal Bank, reported earnings July 27 for the three months ending June 30, which for BofI was the fourth quarter of its 2017 fiscal year. Here are three takeaways:

U.S. Soccer Development Academy Picks San Diego for Summer Playoff Event

The Chicago-based U.S. Soccer Development Academy, billed as the nation’s leading soccer program for elite youth soccer players, announced that it will host its signature summer event in the San Diego region beginning in 2018, as part of a multiyear agreement with venue operators.

Orchard Supply, DKNY, Chipotle and Snooze Expand Locally

Retailers Orchard Supply Hardware and DKNY, along with restaurant chains Chipotle Mexican Grill and Snooze, an A.M. Eatery, all recently announced new locations in San Diego County.

Ballast Point Brewing Opening Chicago Venue in 2018

San Diego-based Ballast Point Brewing Co. plans to open a tasting room and kitchen early next year in Chicago, which will be the beer-maker’s first location in the Midwest.

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Local Economic Index Increases 0.8% in June

A local index of leading economic indicators for San Diego County rose more in June than it has since April 2015.

Business Calendar for Week of July 31, 2017

Some of the business events planned in the county for July 31, 2017, and beyond.

Senomyx Reports Q2 Results

Public biotech and flavor enhancer company Senomyx Inc. reported down revenue for the second quarter of this year.

BofI Holding Inc. Reports Q4 Net Income of $32.5M

La Jolla-based BofI Holding Inc., parent company of BofI Federal Bank, reported $32.5 million in net income in the fourth quarter of its 2017 fiscal year, which ended June 30, a year-over-year increase of 9.5 percent.

Kratos Reports Revenue Increase of 10.4% for Q2

Kratos Defense & Security Solutions Inc. reported a net loss of $6.2 million but strong revenue growth in its second quarter of 2017.

Santee Apartment Property Sells for $13M

CVG Properties Inc. of Solana Beach has acquired a 70-unit apartment property in Santee for $13 million, according to the seller, San Diego-based investment and development firm SENTRE.

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Thursday, July 27

Pala Casino Plans $170 Million Expansion

Pala Casino Spa & Resort unveiled plans for a $170 million expansion and renovation of its property.

Darin Andersen Named CEO at NXT Robotics

San Diego-based NXT Robotics Corp., a business working to commercialize robots for security, announced on July 27 that it named Darin Andersen as its CEO.

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Realty Income Reports Revenue Increase for Second Quarter

Realty Income Corp. saw total revenue rise 10.8 percent from a year ago for its second quarter ending June 30, reaching $300.2 million, the San Diego-based company reported.

Commercial Bakery Planned after $3.41M Poway Industrial Property Purchase

San Diego-based Escobar Family Real Estate Holdings LLC has acquired a Poway industrial property for $3.41 million, with plans to relocate an existing commercial baking facility to the site, according to brokers who handled the deal.

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BofI Expanding Partnership With H&R Block

BofI Federal Bank is expanding its partnership with tax preparation services company H&R Block Inc., through which it has been offering financial services products since the 2016 tax season.

Let’s Park Old Transportation Planning Notions

Our “relationship” with the automobile is changing. Not one step at a time, but at a rate that is almost unimaginable. But imagine it we must — especially urban planners — or risk being like the buggy whip manufacturers of the early 1900s.

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NuVasive Restructures C-Suite, Announces Q2 Revenues

Local medical device maker NuVasive Inc. on Thursday announced a restructuring of its executive suite, including the pending departures of its president/chief operating officer and chief finance officer. The company, known for disrupting the spinal surgery market, said the changes are intended to drive growth and profitability as it strives to hit $1 billion in revenues in 2017.

Vision, Leadership Lacking from SDSU, City

When I read the “Vision for Mission Valley” document from San Diego State University this week, my first thought was, What was the tiff all about?

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Oggi’s, Tomlinson Lead the Charge at Fundraising Tournament

Oggi’s Sports Brewhouse|Pizza and Pro Football Hall of Fame inductee LaDainian Tomlinson raised $30,000 at the 2nd Annual Oggi’s LaDainian Tomlinson Celebrity Golf Tournament held at Sycuan Golf Resort. Proceeds from the event benefit Tomlinson’s Touching Lives Foundation and its programs in Southern California, including the Boys & Girls Clubs of Greater San Diego and the Angelman Syndrome Foundation.

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Consortium Carefully Crafts A Fine-Dining Experience

With a Tip of the Toque to the Past And a $6.5M Renovation, Steakhouse Prepares to Offer More Than Just a Meal

For the past decade, operators of Consortium Holdings have created an eclectic array of San Diego-centric restaurant and bar concepts, several of which could be stops on an evening tour of the city’s burgeoning “foodie” culture that it helped spawn.

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Farmers Markets Become Springboards For Local Companies

RETAIL: Popular Picks Often Find Their Way to Store Shelves

Farmers markets are best known for showcasing small businesses that don’t grow beyond the borders of their booths. But many fast-growing companies — some with a nationwide presence — got their start selling products from sunny outdoor stalls in San Diego.

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Qualcomm Licenses Vehicle Charging Tech

Qualcomm Inc. said July 25 that it signed an agreement licensing its wireless electric vehicle charging technology to Japan-based Nichicon Corp. Financial terms of the deal were not disclosed.

Chinese Drones Are on The Shelf And In the Air

Drones Made Easy in the Morena district of San Diego is now an authorized retailer for Chinese drone maker DJI.

EvoNexus Welcomes a Dozen Startups

EvoNexus just announced the names of a dozen startups that will enter its business incubators in downtown San Diego and University City.

Marijuana-Infused Coffee Pod Aims to Take Edge Off Edibles

Startup Provides Operational Know-How To Cannabis Cos. That Make the Product

A San Diego startup has its hands on a new technology that’s being used to give your morning coffee a little extra buzz.

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$20M Supportive Housing Opens

San Diego-based Affirmed Housing recently opened Cypress, a $20 million supportive housing development serving homeless residents with special needs in downtown San Diego.

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Mainfreight Unpacks in Otay; New Dishes for East Village, SDSU

In Otay Mesa, San Diego’s Murphy Development Co. recently signed global logistics provider Mainfreight Ltd. to occupy 24,050 square feet at its Siempre Viva Business Park. Murphy officials said the five-year lease is valued at $1.2 million, and the location is within the first speculative industrial building completed in Otay Mesa since 2006, at 2600 Melksee St.

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Things Continue to Look Up for Tallest Towers and Their Owners

A new report from brokerage firm JLL notes that 2017 is the 10th consecutive year in which downtown San Diego started the year with no new speculative office space under construction within its “Skyline” subset — in other words, the city’s 20 tallest towers.

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Rural Retreat Offers Perfect Setting to Savor Life’s Successes

The family home is more than just a street address, the right floor plan or the perfect yard. It’s a place where lifelong memories are created one day at a time, where triumphs are celebrated and challenges faced. But, most importantly, it’s a welcome refuge for friends and family from the frenetic pace of life.

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Robot Interrogator Could Change the Face of Security

TECH: Kiosk Avatar Used to Analyze Pupils, Voice and Responses

A business school professor at San Diego State University is working on a big change in how we’ll cross borders in the future. How big? So big, it might make the upcoming, 57-hour closure of the San Ysidro point of entry look puny in comparison.

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Shoe Co.’s New Line Takes Untraditional Path

APPAREL: DSW Distribution Cuts Out Some Retail Costs

Kevin Gordon brings a fascination for history to work with him.

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Investing Advice Just Part Of Peer Group’s Value

FINANCE: Wealthy Share Tips On Money, Family, Philanthrop

Got a net worth of at least $10 million? Want to know the best ways to invest that money?

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Monkey Paw Deal Gives Brewer a Stronger Hand

CRAFT: From Management to Distribution, Move Makes Sense

The acquisition of six-year-old Monkey Paw Brewing Co. by the larger and more established Coronado Brewing Co. comes at a pivotal time in the histories of both brewers.

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Perfect Bar Finds Missing Ingredient

Private Equity Gives Co. More Cash, Cache And Production Output

Perfect Bar’s big break came when a Whole Foods Market manager in the San Francisco Bay Area gave the fledgling company’s product a 30-day trial. That got its organic snack bars onto supermarket shelves.

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Ballentine Tapped to Lead CSU Institute for Palliative Care

Jennifer Moore Ballentine has been named the new executive director of the CSU Institute for Palliative Care.

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Wednesday, July 26

San Diego Private Bank Parent Co. Reports Q2 Assets

Private Bancorp of America Inc., the parent company of La Jolla-based San Diego Private Bank, reported a 17 percent increase in total assets to $564.9 million as of June 30, compared to the same date in 2016.

Angel Investor Behind OH! Juice's Third Location

Local beverage company OH! Juice has lined up enough investment capital to open a third location — this time at a highly trafficked tourist spot.

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Struggling Drugmaker Raises $43 Million in Stock Offering

Local drugmaker Regulus Therapeutics Inc. has managed to raise $43 million in a public stock offering — cash the struggling company needs to continue its research.

New Program’s Aim: Brace Region for Golden Triangle Construction Impacts

The San Diego Association of Governments (SANDAG) has joined with city and other government leaders to form a new information program coordinating nearly 50 major development projects in the city’s highly trafficked Golden Triangle area.

InfoSonics Corp. to Acquire Cooltech Holding

San Diego-based InfoSonics Corp., which manufactures wireless handsets and tablets, said on July 26 that it plans to acquire Cooltech Holding Corp., an Apple reseller in Latin America. InfoSonics (Nasdaq: IFON) said Cooltech will become a wholly owned subsidiary of InfoSonics in exchange for 62.5 million shares of InfoSonics common stock.

Bridgepoint Education Reports Q2 Revenue of $124.6M

San Diego-based Bridgepoint Education, which provides postsecondary education services, reported net income of $6.3 million on revenue of $124.6 million in the second quarter, compared to $3.3 million on revenue of $138 million in the same quarter last year.

Andrew Kerzmann Named VP of Hotel Operations at Sycuan Casino

Sycuan Casino said July 26 that it hired Andrew Kerzmann as vice president of hotel operations.

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SDSU Offers New Options for Qualcomm Stadium Site

San Diego State University has presented city officials with a mixed-use vision for the current Qualcomm Stadium site, including a new multi-use stadium for Aztec football and other potential sports partners, seating 35,000 to 40,000.

Tuesday, July 25

FDA Grants Special Status to Biotech's Drug

Regulators with the U.S. Food and Drug Administration have handed local biotech Samumed LLC a special classification for one of its drug programs, granting the company a number of perks.

Airport Looking for 3rd-Party Operator to Oversee Innovation Lab

The San Diego International Airport is on the hunt for a third-party operator (an individual or a firm) to take over its “innovation lab,” which the airport launched earlier this year.

East County Medical Office Building Fetches $33 Million

Two large East Coast investment firms have entered East County’s medical office real estate market.

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Chosen Foods Acquired by Mexican Company

Chosen Foods LLC, which sells specialty cooking oils and other products, has been acquired by a Guadalajara-based company that sells specialty oils, oily seeds and ingredients for Mediterranean cuisine in more than 25 countries.

Startup SkySafe Raises $11.5 Million in Series A Funding

San Diego-based SkySafe, which makes technology to stop drones while in flight, said on July 20 that it received $11.5 million in series A funding, led by Andreessen Horowitz.

Old Globe Names Timothy Shields Managing Director

The Old Globe has tapped Timothy J. Shields as its new managing director.

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Navy Awards Contract Worth Nearly $50M to BAE Systems

The U.S. Navy awarded BAE Systems San Diego Ship Repair a contract modification worth almost $50 million, covering maintenance work on the amphibious ship USS Comstock.

Condor Airlines Won’t Extend Local Flights to Frankfurt Beyond 2017

German carrier Condor Airlines has informed San Diego airport officials that its first season of direct local flights to Frankfurt will be its last, though no specific explanation was provided.

Don’t Abandon High Density in Morena District

The San Diego region will struggle in every neighborhood to accommodate the population growth forecast by SANDAG — as many as a million new residents by 2050. San Diego already has a widely-recognized housing shortage that results in major annual price increases and undermines the city’s climate action plan as commuters go farther afield in search of affordability. The problem will only get worse unless we take bold steps to sensibly accommodate this inevitable growth.

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Safety for All Is Theme for Fundraiser and a Theme for Life

The San Diego Police Foundation 2017 Friends of the Badge raised $137,000 at a luncheon held recently at the San Diego Convention Center.

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Firms’ Friendly Competition Fills Big Need in Feeding the Hungry R

The Feeding San Diego Food from the Bar campaign challenges San Diego law firms and law firm vendors to unite against hunger in a fun and competitive way. This year’s Food from the Bar counted 284 volunteer hours, 1,056 pounds of food donated, and raised $143,000. More than 573,000 meals, therefore, will be provided by legal professionals in the fight against hunger in San Diego.

Venture Bankers See a Tech Sector Ready for Possible Takeoff

FINANCE: More VCs Needed to Establish Funds

Bankers at the two most active venture banks in the San Diego area believe a revitalization of the region’s technology sector may be underway.

VC Funding in Q2 Mostly Stuck to Usual Script for Region

FINANCE: However, More Diverse Investment Sources Adding Options

Venture-backed companies in the San Diego region took in 26 rounds of equity financings totaling $273.49 million in the second quarter of the year, according to data from Dow Jones VentureSource.

Intoxicating Milkshakes on Menu

Hundred Proof, a bar-restaurant with a menu that includes burgers and “boozy milkshakes,” recently opened at 4130 Park Blvd. in San Diego’s University Heights neighborhood. It is a new concept from the team behind the nearby Trust restaurant, led by partners Steve Schwob and Executive Chef Brad Wise.

Continued Tightening In Office, Industrial Markets

The San Diego Business Journal in August will have its next quarterly special report examining the region’s commercial real estate trends in depth. But the first official brokerage company data trickling in for 2017’s second quarter suggest that conditions favoring landlords still reign in the office and industrial categories.

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Project Progress: A Go-Ahead, A Start and a Completion

San Diego port district officials recently gave the green light for demolition of the beloved waterfront restaurant mainstay Anthony’s Fish Grotto, which closed earlier this year, to make way for Brigantine Inc.’s $20 million, multivenue dining project called Portside Pier at 1360 N. Harbor Drive.

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Vuori Muscles into the Activewear Market With Style

Fashion-savvy startup making millions

A new clothing company in Encinitas is capitalizing on the “athleisure” trend (i.e. looking good in workout clothes) by targeting one segment of the population other companies often neglect: men. The company is called Vuori

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In Carlsbad, Nordson Finds What It Needs for Manufacturing

PRODUCTION: Skilled Engineers Part of Co.’s 600 Local Employees

Dozens of empty steel cases, coated in white paint, stand chest-high at one end of Nordson Corp.’s big factory on Loker Avenue in Carlsbad. They line up like soldiers in formation.

Startup Offers Voice of Experience to New Active Traders

FINANCE: Investors Get Community and Chance To Observe the Veterans

TechMeetsTrader, a San Diego software startup, is developing what it hopes will become known as the Facebook for stock and options traders.

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Richard Kelley, of NBC 7 / KNSD and Telemundo 20

Richard Kelley, who oversees NBC Universal’s Owned Television Stations division in San Diego, has been with the company since 2008. Previously vice president of sales at KNTV, an NBC station in the San Francisco Bay Area, Kelley came to San Diego in 2010 as president and general manager of NBC San Diego.

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Technology Gives Electric Cars Chance to Deliver Energy to Grid

CLEAN-TECH: System Would Result in Refunds To Drivers for Energy

Nuvve Corp. LLC has flipped the script when it comes to electric vehicles. In a conventional world, the power grid charges electric cars. Nuvve creates technology that lets electric cars supply power to the grid. It’s called “V to G,” or vehicle to grid.

ASML Gives a Green Light to Cymer’s R&D, Expansion

TECH: Cymer Gets Factory Upgrades, More Staff, Space

ASML Holding NV is laying out more resources on its San Diego operation, four years after buying Rancho Bernardo-based Cymer Inc. for $3.7 billion.

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Grocery Gambit Won’t Disrupt S.D. Scene, Yet

RETAIL: Whole Foods Buy Adds To Amazon’s Distribution Prowess

Amazon Inc. is steadily growing its footprint in San Diego County, but it could take a while for the e-commerce giant to turn its recent acquisition of Whole Foods Market into a significant contributor to its fresh-food deliveries in the region’s highly competitive local grocery climate.

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Diagnostics Co. Must Wait for the Results

BIOTECH: Purchase of Assets Hinges on Actions of Others

One of San Diego’s bigger (yet little-known) public companies, Quidel Corp., just inked a deal that could double its annual revenue. But the deal’s closure is dependent on outside forces that may or may not go Quidel’s way.

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New Drug, New Attitude, New Day at Pharma Co.

Arena Pharmaceuticals Begins to Bounce Back from Belviq Failure

Its diet pill was a commercial flop that almost sent Arena Pharmaceuticals Inc. to the grave. But now, following a major makeover, the company’s new experimental medicines could bring renewed life to the San Diego biotech.

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Monday, July 24

San Diego Apartments Sold for $2.1 Million

San Diego investors John Lopez and Cheryl Lopez have acquired an 8-unit apartment property in the city’s Normal Heights neighborhood for $2.1 million, according to brokerage firm ACRE Investment Real Estate Services.

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Pacific Beach Apartment Property Sold for $2.34 Million

Underwood Family Trust of Encinitas has acquired a four-unit apartment property in San Diego’s Pacific Beach neighborhood for $2.34 million, according to brokerage firm Palma Commercial.

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Effector Therapeutics Raises $38.6 Million From Pfizer Venture

Local biotech Effector Therapeutics Inc. has raised $38.6 million in a Series C venture capital round led by big pharma investor Pfizer Venture Investments.

Frank Hettmann Appointed CFO at Neology

Neology has named Frank Hettmann as its chief financial officer, the company announced on July 24. The business, based in Poway, offers electronics for the tolling, electronic vehicle registration and public safety markets.

Spending Power and Seagoing Sriracha: A Peek Inside San Diego’s Newest Navy Ship

The USS Gabrielle Giffords, an Independence-class littoral combat ship and one of the newest ships in the U.S. Navy, arrived in San Diego on July 5, giving the region a direct economic benefit of about $30 million per year.

SoccerCity Backers to MLS: Wait for San Diego

With a local vote on the project possibly more than a year away, developers backing the proposed SoccerCity mixed-use development in Mission Valley have launched a new campaign aimed at getting Major League Soccer to hold off decisions on its next expansion teams.

Ionis Pharmaceuticals Buys Carlsbad Office Building for $13.9 Million

Carlsbad-based Ionis Pharmaceuticals Inc. has purchased an office building that it had previously been leasing in that city for approximately $13.9 million, according to CoStar Group and public data.

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Surftech Announces Partnership With BLOOM

Materials development company BLOOM, which makes flexible foams using algae harvested from freshwater sources, announced it has partnered with Carlsbad-based manufacturer Surftech to offer paddle boards with more environmentally sustainable deck pads.

Sunday, July 23

New Drug, New Attitude: New Day at Pharma Co.

Its diet pill was a commercial flop that almost sent Arena Pharmaceuticals Inc. to the grave. But now, following a major makeover, the company’s new experimental medicines could bring renewed life to the San Diego biotech.

Rincon Band Breaks Ground on $20 Million Administrative Building

The Rincon Band of Luiseño Indians said in mid-July that it broke ground on a $20 million, 43,000-square-foot tribal government administration building, which will replace the temporary buildings it has used for the last 17 years.

Windward Life Care Is Acquiring Lifeline Care

A local aging services company called Windward Life Care has acquired San Diego’s longstanding senior care organization, Lifeline Care at Home.

Paragon Buys East Village Commercial Block for $34M

San Diego-headquartered Paragon Real Estate Fund and its affiliates have acquired a full city block of properties in downtown’s East Village, known locally as the Art Center Block, for $34 million, the company announced.

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The Business Calendar for the Week of July 24, 2017

Some of the business events planned in the county for the week of July 24, 2017, and beyond.

Hotel Management Company Plans to Lay Off up to 90 in San Diego

San Diego-based Hotel Managers Group LLC plans to lay off up to 90 workers effective Aug. 15, according to a company filing with the California Employment Development Department.

Neurocrine Biosciences Names Julie Cooke as Chief People Officer

Local drugmaker Neurocrine Biosciences Inc. has hired Julie Cooke to serve as part of the company’s management committee with the title chief people officer.

Rebranding Brings Rutledge Claims Management to Life as Licensed Public Adjuster Firm

Rutledge Claims Management Inc. is the new name for the Law Offices of Thomas W. Rutledge, APC.

Integrated Marketing Systems Names Nick Benore President

Integrated Marketing Systems, a San Diego-based research firm specializing in agency-verified advance notice public bid project information for architect, engineering and construction firms, announced that it has promoted Nick Benore to president.

Friday, July 21

Paragon Buys East Village Commercial Block for $34 Million

San Diego-headquartered Paragon Real Estate Fund and its affiliates have acquired a full city block of properties in downtown’s East Village, known locally as the Art Center Block, for $34 million, the company announced.

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New Drug, New Attitude: New Day at Pharma Company

Its diet pill was a commercial flop that almost sent Arena Pharmaceuticals Inc. to the grave. But now, following a major makeover, the company’s new experimental medicines could bring renewed life to the San Diego biotech.

Neurocrine Names Julie Cooke as Chief People Officer

Local drugmaker Neurocrine Biosciences Inc. has hired Julie Cooke to serve as part of the company’s management committee with the title chief people officer.

Rincon Band Breaks Ground on $20M Administrative Building

The Rincon Band of Luiseño Indians said in mid-July that it broke ground on a $20 million, 43,000-square-foot tribal government administration building, which will replace the temporary buildings it has used for the last 17 years.

Hotel Management Company to Lay Off up to 90 in San Diego

San Diego-based Hotel Managers Group LLC plans to lay off up to 90 workers effective Aug. 15, according to a company filing with the California Employment Development Department.

Business Calendar for Week of July 24, 2017

Some of the events planned in the county for the week of July 24, 2017, and beyond.

Windward Life Care Is Acquiring Lifeline Care at Home

A local aging services company called Windward Life Care has acquired San Diego’s longstanding senior care organization, Lifeline Care at Home.

Integrated Marketing Systems Names Benore President

Integrated Marketing Systems, a San Diego-based research firm specializing in agency-verified advance notice public bid project information for architect, engineering and construction firms, announced that it has promoted Nick Benore to president.

Thursday, July 20

Imprimis Pharmaceuticals Borrows $16 Million

San Diego drugmaker Imprimis Pharmaceuticals Inc. has entered into a $16 million loan agreement with SWK Funding and its partners, the company announced Thursday.

Money Available to Fund Two Homeless Shelters, But Sites Needed

Anonymous donors are prepared to write checks totaling up to $1.6 million to fund two temporary shelters for 500 homeless people.

Comic-Con 2017: Everybody Wants In

As with past years, the 2017 edition of Comic-Con International kicked off July 20 with the most common sight seen in and near the San Diego Convention Center: people waiting in lines.

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Men's Footwear Startup Partners with Retailer DSW

Blake McKay, a new men's footwear brand based in San Diego, has entered into a partnership with Columbus, Ohio-based DSW Inc., which sells footwear and accessories at more than 1,000 locations in North America.

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Aspyrian Therapeutics Raises $15.1 Million

San Diego’s Aspyrian Therapeutics Inc. has raised $15.1 million in a Series B-1 financing round. The company expects the round will increase to $19 million in the next few weeks.

LRAD's CFO Resigns

LRAD Corp. announced that its chief financial officer, Katherine H. McDermott, is leaving the company Aug. 10 after 10 years. In a company statement issued July 17, McDermott said she was leaving to pursue a new opportunity.

Carlsbad Advertising Agency Expands to Portland

The PIA Agency, a Carlsbad-based advertising agency, has opened a new office in Portland, Oregon.

Seacoast Commerce Reports Q2 Net Income of $1.4M

Seacoast Commerce Banc Holdings, the holding company of Rancho Bernardo-based Seacoast Commerce Bank, reported second-quarter net income of $1.4 million, or 23 cents per share, compared with net income of $1.8 million, or 30 cents per share, a year ago, a 22.7 percent decrease.

Wednesday, July 19

Sommetrics Names Corbet Lancaster Senior VP of Finance

A small medtech company in Vista, Sommetrics, has recruited Corbet “Cory” Lancaster to serve as the company’s new senior vice president of finance.

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El Cajon Apartments Sold for $5.6 Million

San Diego investors Ronald and Judy Endeman have acquired a 26-unit apartment property in El Cajon for $5.6 million, according to brokerage firm Marcus & Millichap.

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Pacific Southwest Association of Realtors Names New Board

One of the largest trade associations for real estate agents in San Diego has announced its incoming board of directors. Members will be seated Jan. 1.

Qualcomm Revenues Lag Amid Apple Dispute

After warning in late April that its third-quarter financial results might lag because of disputes with customers, Qualcomm Inc. turned in net income of $900 million, or 58 cents per share, on $5.4 billion in revenue.

Chinese PE Firm Closes $400 Million Fund

A Chinese private equity firm that has its eye on San Diego biotech just closed a $400 million fund, its second and biggest yet.

Sixt Rent-a-Car Plans New San Diego Operations

Florida-headquartered Sixt Rent-a-Car plans to expand into San Diego this fall, with new operations being established at the consolidated rental car center that opened last year near San Diego International Airport.

Coronado Brewing Acquiring Majority Stake in Monkey Paw Brewing

Coronado Brewing Co. is acquiring a majority stake in San Diego-based craft beer-maker Monkey Paw Brewing Co. for an undisclosed price. Officials of the two companies said the transaction is expected to close Sept. 1.

Brain Corp. Raises $114 Million in Series C Funding

San Diego-based Brain Corp. said on July 19 that it brought in $114 million in Series C funding. SoftBank Vision Fund led the round while Qualcomm Ventures was a repeat participant.

National University to Launch Precision Institute

La Jolla-based National University, the flagship of the National University System network of nonprofit education institutions, has launched a four-year, $20 million initiative that will pilot new approaches to personalize higher education.

Tuesday, July 18

Q2 Data Suggests Continued Gains for Two Key Markets

The first official brokerage company data trickling in for 2017’s second quarter suggests that conditions favoring landlords still reign in two categories.

San Diego Firm Buys Encinitas Apartments for $53 Million

An affiliate of San Diego-based Property West Residential has acquired a 120-unit apartment property in Encinitas for $53 million, according to CoStar Group and public data.

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Koia Announces $7.5 Million Seed Round

Beverage company Koia, which makes fresh, plant-based protein drinks, announced Tuesday it had closed a $7.5 million seed round of financing led by KarpReilly LLC.

Senior Apartment Property in North Park Sold for $5.1 Million

An affiliate of San Diego-based Melroy Investments Inc. has acquired a 26-unit senior apartment community in North Park for $5.1 million, according to CoStar Group and public data.

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As It Shifts Direction, Ingenu Searches For New CEO

Ingenu Inc. has announced that CEO John Horn has left the company.

Ionis Pharmaceuticals Earns $10 Million Payment From Biogen

Carlsbad drugmaker Ionis Pharmaceuticals Inc. has earned a $10 million paycheck from its big biotech partner Biogen Inc.

Phoenix Molecular Appoints Chief Scientific Officer

A longtime member of San Diego’s life science community, Dr. Gerrit Los, has been named chief scientific officer at Phoenix Molecular Designs.

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Cubic Acquires British-Based Deltenna Ltd.

Cubic Corp. said on July 18 that it acquired privately held Deltenna Ltd. of Chippenham, U.K. for undisclosed terms. Deltenna specializes in wireless infrastructure, offering radio and antenna communication solutions.

Monday, July 17

Four Reasons That 95 Percent of Startups Fail … Plus One From the Audience

During his appearance at Qualcomm Inc. at the end of June, internet pioneer and Google executive Vint Cerf asserted that 95 percent of startups fail. Better business practices could get that down to 65 percent, he said.

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North Park Commercial Property Sold for $3.6 Million

ECB Partners LLC of San Diego has acquired a North Park office and retail property for $3.6 million, according to CoStar Group and public data.

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Visual Communications Closes Acquisition of Display Products

Visual Communications Co. LLC, a Poway-based electronic components maker, said on July 17 that it completed its acquisition of El Segundo-based Display Products Inc. for undisclosed terms.

Steve Powell Named CEO of SynteractHCR

San Diego-based contract research organization SynteractHCR Holdings Corp. has hired Steve Powell as its new chief executive officer, replacing Wendel Barr, the firm’s CEO for six years.

San Diego Mansion Housing Hotel Sold for $3.85 Million

Irvine-based Limelight Investments LLC has purchased the historic mansion housing the Britt Scripps Inn in Bankers Hill for $3.85 million, according to CoStar Group and public data.

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Quidel to Acquire Assets of Alere for $440 Million

Quidel Corp., a diagnostic test maker in San Diego, has a $440 million deal pending to purchase assets from East Coast diagnostic firm Alere Inc.

Bill Maris to Keynote SDVG's Venture Summit

Silicon Valley-made venture capitalist Bill Maris, the near-celebrity founder of Google Ventures, will be keynoting San Diego Venture Group’s biggest gathering of startups and investors this year.

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No Identity, Secret or Otherwise, Revealed Yet for Upcoming Comic-Con Museum

Forgive Comic-Con International organizers for being a little pre-occupied at the moment, seeing as they’re quite busy gearing up for their annual mega pop-culture fest running July 20-23 at San Diego Convention Center.

Sunday, July 16

Digital Marketing Agency Signs as the Sole Office Tenant at IDEA1 Development

Seer Interactive, a Philadelphia-based digital marketing agency, has signed a long-term lease to become the sole office tenant at the mixed-use IDEA1 project in downtown San Diego’s East Village.

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EDF Renewable Energy Acquires Two Nevada Solar Projects

San Diego-based EDF Renewable Energy recently acquired two solar projects from publicly traded energy firm First Solar Inc. (Nasdaq: FSLR), the company announced July 14.

Scorecard for Q2 Venture Capital Is Out

Venture-backed companies in the San Diego region took in 26 rounds of equity financing totaling $273.49 million in the second quarter of the year.

The Business Calendar for the Week of July 17, 2017

Some of the business events scheduled in the county for the week of July 17, 2017, and beyond.

TrovaGene's Share Price Fell Following Stock Offering Announcement

The stock price for TrovaGene Inc. is down over 20 percent by close of market Friday following the company’s announcement that it would raise $7.1 million in a stock offering.

NTN Buzztime Inc. Names Two Independent Directors to Board

Carlsbad-based NTN Buzztime Inc. said it has named two new independent directors to its board.

A Luminary Named to Connect Entrepreneur Hall of Fame

Connect has named Jay Flatley of Illumina as its 2017 inductee to the Connect Entrepreneur Hall of Fame.

Bankers Hill Commercial Property Sold for $4 Million

Investor Tim Foley of San Diego has acquired a mixed-use property in San Diego’s Bankers Hill neighborhood for $4 million, according to brokerage firm Marcus & Millichap.

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Governor Appoints Benton as Senior Business Development Specialist for GO-Biz

Gov. Jerry Brown has appointed Shea Benton as a senior business development specialist for San Diego and Imperial counties at the Governor’s Office of Business and Economic Development (also known as GO-Biz). Benton, 28, will work in San Diego.

Friday, July 14

The Scorecard for Q2 Venture Capital Is Out

Venture-backed companies in the San Diego region took in 26 rounds of equity financing totaling $273.49 million in the second quarter of the year.

Commercial Property in Bankers Hill Sold for $4 Million

Investor Tim Foley of San Diego has acquired a mixed-use property in San Diego’s Bankers Hill neighborhood for $4 million, according to brokerage firm Marcus & Millichap.

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TrovaGene Inc.'s Share Price Falls Following Stock Offering Announcement

The stock price for TrovaGene Inc. was down over 20 percent by close of market July 14, following the company’s announcement that it would raise $7.1 million in a stock offering.

Digital Marketing Agency Signs as Sole Office Tenant at IDEA1 Development

Seer Interactive, a Philadelphia-based digital marketing agency, has signed a long-term lease to become the sole office tenant at the mixed-use IDEA1 project in downtown San Diego’s East Village.

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NTN Buzztime Appoints 2 Independent Board Members

Carlsbad-based NTN Buzztime Inc. said it has named two new independent directors to its board.

EDF Renewable Energy Acquires 2 Solar Projects

San Diego-based EDF Renewable Energy recently acquired two solar projects from publicly traded energy firm First Solar Inc. (Nasdaq: FSLR), the company announced July 14.

Business Calendar for Week of July 17, 2017

Some of the business events scheduled in the county for the week of July 17, 2017, and beyond.

Thursday, July 13

New San Diego Hotel Opens, With Plenty More on the Way

San Diego’s newest hotel is a 245-room Homewood Suites by Hilton, which recently opened at 2201 Hotel Circle South in Mission Valley and is managed by Evolution Hospitality of San Clemente. The property is owned by Newport Beach-based T2 Hospitality, led by founder and CEO Mike Patel, which has developed several hotels in the local market including the dual-branded Hilton campus that opened last year at the former Top’s Nightclub/Fat City site near Little Italy.

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Venue Updates: More Beer and Food Coming Up

On July 19, Del Mar is expected to see the opening of Viewpoint Brewing Co., billed by operators as that city’s first craft beer brewery. A company statement said the brewery restaurant, owned by Charles Koll at 2201 San Dieguito Drive near Jimmy Durante Boulevard, overlooks the scenic San Dieguito Lagoon, directly across from the county fairgrounds.

Brick-and-Mortar Grocers Show No Sign of Slowing

Amazon Inc. made big headlines with its plan to buy grocer Whole Foods Market Inc. for $13.7 billion, which likely has many competitors wondering whether they’ll need to boost their own tech-based delivery capabilities when it comes to getting fresh food into the hands of their customers.

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Jacobs Interview Opens a Window to the Past

The Cal Alumni Association at UC Berkeley recently named Qualcomm Inc. Executive Chairman Paul Jacobs its 2017 alumnus of the year. The benefit to San Diego’s business community is a very readable profile article by Bill Snyder in the California alumni magazine (available online), which offers an interesting window into Qualcomm’s history.

Carlsbad Firm Buys Arizona Commercial Property for $10.2 Million

Carlsbad-based Capstone Advisors has acquired a seven-building office and industrial property in Tempe, Ariz., for $10.2 million, the company announced.

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Fertilizer Startup’s Seed Round Brings Opportunity for Growth

A startup in San Diego is making fancy fertilizer from your poop.

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StackIQ Bought by Teradata for Undisclosed Sum

Publicly traded Teradata Corp., which has a large campus in Rancho Bernardo, has acquired Solana Beach startup StackIQ. Terms of the deal were not disclosed, nor was the number StackIQ employees that made the jump to Teradata.

Summit to Show Power of Regional Collaboration

For the first time, the California Economic Summit will be held in San Diego, bringing state and regional business, civic, education, and public agency leaders together on Nov. 2-3 to review the progress we are making to restore upward mobility and what more must be done to increase economic security.

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Easing Homelessness Requires Business Buy In

Close your eyes and imagine San Diego five years from now. When I do, it looks mostly the same in terms of major landmarks. After all, there won’t be a new NFL stadium, and there probably won’t be a Major League Soccer stadium, and there might not be a convention center expansion, and so on. (Ah, but that is another column for another time).

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CVCF Grants Support the Well-Being of Its Community

Chula Vista Charitable Foundation, an affiliate of The San Diego Foundation, awarded a record $50,232 to three nonprofits at its 7th Annual Grants Celebration at the Barnhart Cancer Center.

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From the Beginning, Beauty Was Part of the Bay Park Plan

Bay Park is a community within the larger Clairemont subdivision that includes North Clairemont, Bay Ho, Clairemont Mesa East and Clairemont Mesa West. Its general borders are Interstate 5 on the west, Linda Vista Drive to the south, Tecolote Canyon on the east and Balboa Avenue to the north.

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San Diego's Wealthiest

The Wealthiest San Diegans list includes individuals with a primary residence in San Diego County. Estimates of net worth are based on information gathered from shareholder disclosures and stakeholder filings, credible published wealth reports such as Forbes and Bloomberg, wealth intelligence sources, and trusted sources. A few individuals cooperated with us to provide guidance for our estimates; most declined or did not respond.

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Former El Cajon Police Station Site to House Hampton Hotel, In-N-Out Burger

The former site of an El Cajon police station will be redeveloped to include a Hampton by Hilton hotel, a new location of In-N-Out Burger and other adjacent retail, following the city council’s recent approval of the project at 100 Fletcher Pkwy.

$60M Apartment Project Slated for Vacated Downtown Retail Site

Developer Legacy Partners plans a $60 million apartment project in downtown San Diego’s Marina District, after reaching undisclosed terms on a ground lease for a retail site that formerly housed Cost Plus World Market at 372 Fourth Ave.

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TE2 Acquired by English Firm for $80 Million

Accesso Technology Group PLC, a public company headquartered in England, has agreed to acquire TE2 – The Experience Engine, a San Diego firm founded in 2013, for $80 million.

New Wealth Brings A Reinvest Culture

ECONOMY: ‘Returns’ Also Expected on Philanthropy

When considering the wealthiest people in San Diego, a few names easily come to mind: T. Denny Sanford, Irwin Jacobs, Malin Burnham, Ernest Rady. After all, their names are affixed to lecture halls, civic buildings and research institutes across the Torrey Pines Mesa.

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Local Drugmakers With Promising Treatments Lead Q2

INVESTMENT: Huge Gains for Otonomy; Neothetics Crashes

Public life science companies in San Diego collectively saw a modest gain in the second quarter of 2017, with a few high-performing drugmakers bringing up the region’s average.

Cody Barbo Ousted From Startup He Founded

Cody Barbo, the founder and CEO of fast-growing tech startup Industry Careers Inc., has been fired from the company he founded three years ago.

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Youngevity Positioning Itself to Meet Its Big Growth Goals

RETAIL: Nasdaq Listing, Acquisitions and IT Setup Part of ‘Bigger Things’

Chula Vista-based Youngevity International Inc., one of the world’s largest direct-selling companies, has ambitious plans to one day compete with the giants of e-commerce.

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MaxLinear Scales Up, Diversifies

TECH: Connected Homes Expected to Be Major Source of Future Revenue

“Significant, but achievable.” That is how Kishore Seendripu, CEO of MaxLinear Inc., described the big task of integrating Silicon Valley semiconductor maker Exar into his business, after two months as a combined company.

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New SPAWAR Commander Brings Experience of End User to Job

DEFENSE: Yokoyama’s Priorities Are Improving War-Fighting Capabilities

Transitions are part of life in the U.S. Navy. Sailors regularly move from one city to the next, or from one continent to another. But even for Capt. Melvin Yokoyama Jr., who has spent more than 25 years in the Navy, this last transition has been quite a change of scenery.

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M&As in Wealth Management Off to Record Start in Q1

FINANCE: Regulation, And Succession Issues Cited as Some of Causes

In 2008, Elisabeth Cullington merged her investment advisory firm, Cullington Hill Advisors, into San Diego-based HoyleCohen LLC.

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Dev Bootcamp Closing Down

Poor financial performance is forcing Dev Bootcamp, one of the early pioneers of coding schools, to permanently shut down.

Tired Superheroes, Hungry Zombies Are Economic Assets for S.D.

TOURISM: Comic-Con Spreads the Wealth With $143M Economic Impact

These days, the ripple benefits of Comic-Con International, the largest convention held annually in San Diego, extend well beyond the exhibitors seeking to impress the 130,000 attendees, or the hoteliers selling thousands of rooms to those pop culture devotees every July.

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Reputation Redesign Needed for San Diego

WORKFORCE: Tech Talent Sees Dinosaur Not Dynamism

When it comes to the tech sector, San Diego has a branding problem.

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Brewer Puts ESOP to Work for Co., Culture

BREWING: Modern Times Puts 30% of Shares Into Stock Plan

It’s been used sporadically in the U.S. beer industry to keep craft brewers independent: grant ownership shares to workers via an employee stock ownership plan (ESOP).

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What Business Can Do

Stakeholders Call on Peers to Be Part of Homeless Solution

Homelessness sits heavy on San Diego’s doorstep, a seemingly intractable problem that can’t be shoehorned into a one-size-fits-all box.

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Wednesday, July 12

Harvey White Among Recipients of Corporate Directors Forum Awards

Corporate Directors Forum, the San Diego-based nonprofit founded in 1991 to provide networking and education in corporate governance, has named its 2017 Director of the Year awards.

New Home Co. Plans $100M Development at Civita

Homebuilder The New Home Co. of Aliso Viejo has announced its first San Diego County project, a 133-unit development at the Civita mixed-use community in Mission Valley.

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Varsha Rao Appointed to ViaSat Board

ViaSat Inc. has named a new board member — an executive with a strong background in e-commerce, internet technology and international markets.

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Ionis Pharmaceuticals' Valuation Climbs 40 Percent in Q2

Carlsbad drugmaker Ionis Pharmaceuticals watched its public valuation climb 40 percent during the second quarter of 2017, making it the third-biggest life science company in San Diego.

Oceanside Industrial Property Sells for $3.75 Million

IP Investments LLC of Pasadena, Texas, has acquired an Oceanside industrial property for $3.75 million, according to brokerage firm Horizon Resources Inc.

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Union-Tribune Announces Partnership With GoFundMe

The San Diego Union-Tribune and social fundraising platform GoFundMe, which was founded in San Diego in 2010, have partnered to allow readers to easily start fundraising campaigns in support of an individual, organization or cause after reading a news story.

Tuesday, July 11

Apriem Advisors Opens La Jolla Office

Irvine-based wealth management firm Apriem Advisors has opened an office in La Jolla, the company recently announced.

Shipbuilder Announces Up to 300 Layoffs

BAE Systems said July 11 that it planned to lay off as many as 300 employees at its Barrio Logan shipyard. The positions could be eliminated in early September, the business said.

Cubic CFO Takes New Role, Replacement Named

Cubic Corp. plans to transition current CFO Jay Thomas to an executive adviser’s role and name a new chief financial officer in October.

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New Drug's Potential Lifts Stock of Arena Pharmaceuticals

The stock for local drugmaker Arena Pharmaceuticals Inc. is skyrocketing Tuesday following news that the company may have a promising drug in the labs.

South County Tuna Purveyor Takes New Space in Chula Vista

Is San Diego County in the midst of a tuna industry resurgence?

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HP Investors Buys East Village Retail-Office Property for $11.4 Million

San Diego-based HP Investors LLC has acquired a retail and office condominium complex in East Village, originally built as part of the mixed-use condo tower development known as The Legend, for $11.4 million.

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Thai Union to Work With Greenpeace on Business Practices

The parent company of San Diego-based Chicken of the Sea, which sells canned and packaged tuna and other fish and shellfish, has committed to making its business practices more sustainable and socially responsible.

Monday, July 10

Chicago Firm Acquires Majority Stake in ChiroTouch

A Chicago-based private equity firm has acquired a majority stake in San Diego’s ChiroTouch, which provides software applications for chiropractic clinics.

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Mission Valley Office Property Sold for $10.3 Million

San Francisco investor Charlie Jadallah has acquired a Mission Valley office property for $10.3 million, according to brokerage firm Marcus & Millichap.

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Michele Bart Named Chief Development Officer at Feeding San Diego

Feeding San Diego has named Michele Bart as its chief development officer.

A Visit to One of the Cleanest Workplaces in S.D.

Invitations to ASML’s factory floor in Rancho Bernardo are rare, and when they come, there’s a dress code. You don’t walk into one of the cleanest workplaces in San Diego wearing the shoes you used to cross the parking lot.

RAF Pacifica Group Begins Work on 3 North County Industrial Projects

Encinitas-headquartered RAF Pacifica Group recently began construction on three previously announced industrial developments in North County totaling $110 million in value.

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PURE Bioscience, Roka Bioscience to Combine Marketing Efforts

El Cajon-based PURE Bioscience has partnered with Roka Bioscience in a combined marketing effort, expanding PURE’s reach to Roka’s entire customer base.

Vista Apartment Property Sells for $3.57 Million

An Encinitas buyer recorded as SWEP VV LLC has acquired a 21-unit apartment community in Vista for approximately $3.57 million, according to brokerage firm Cushman & Wakefield.

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TrovaGene Escapes Delisting From Nasdaq

Local biotech TrovaGene Inc. is back in line with the Nasdaq rules, meaning — for the time being — the company won’t get delisted from the public market.

Sunday, July 9

Raken's Software Plays Role in Construction of NFL Stadium in Atlanta

A San Diego startup played a role in the construction of the new $1.6 billion National Football League stadium in Atlanta, a facility that will be home to the NFL’s Atlanta Falcons and Major League Soccer’s Atlanta United teams.

Modern Times Beer Says It Is First Craft Brewer in State to Offer ESOP

San Diego-based Modern Times Beer has created what it touts as California’s first employee stock ownership plan (ESOP) to be established by a craft brewer.

Local Bank to Get New Money and New Mission With Acquisition

Seacoast Commerce Bank is poised to have more deposits than any other locally based bank once its planned acquisition of San Juan Capistrano-based Capital Bank closes in the fourth quarter.

Silvia Mah Launching Podcast for Women Investors

The founder of San Diego’s female-only angel fund is launching a podcast for women investors.

The Business Calendar for the Week of July 10, 2017

Some of the business events planned in the county for the week of July 10, 2017, and beyond.

Santee-based Olson Irrigation Acquired By Pennsylvania Co.

Santee-based Olson Irrigation Systems has been acquired by Evoqua Water Technologies, a global company headquartered in Pennsylvania that provides municipal and industrial water and wastewater treatment equipment and services.

American Assets Trust Buys Retail Center for $42M

San Diego-based American Assets Trust Inc. has purchased the Gateway Marketplace retail center in Chula Vista for approximately $42 million, the company announced.

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Oceanside Mobile Home Park Sells for $2.5 Million

A San Diego buyer recorded as GMC Ocean LLC has acquired the Sandy Shores RV Park in Oceanside for $2.5 million, according to brokerage firm Colliers International Group Inc.

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Camp Pendleton Work Is Part of Contract Awarded to Small Business

F3EA JV LLC, a small business, has been awarded a five-year contract worth up to $16.4 million to support underwater egress training systems at four U.S. Marine Corps bases.

Bankers Hill Apartments Sold for $2.49 Million

A Solana Beach buyer recorded as J&A 1 LLC has purchased a nine-unit apartment property in San Diego’s Bankers Hill neighborhood for $2.49 million, according to brokerage firm ACRE Investment Real Estate Services.

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Friday, July 7

Local Bank to Get New Money, New Mission With Acquisition

Seacoast Commerce Bank is poised to have more deposits than any other locally based bank once its planned acquisition of San Juan Capistrano-based Capital Bank closes in the fourth quarter.

Bankers Hill Apartments Sold for $2.49M

A Solana Beach buyer recorded as J&A 1 LLC has purchased a nine-unit apartment property in San Diego’s Bankers Hill neighborhood for $2.49 million, according to brokerage firm ACRE Investment Real Estate Services.

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Oceanside Mobile Home Park Sells for $2.5M

A San Diego buyer recorded as GMC Ocean LLC has acquired the Sandy Shores RV Park in Oceanside for $2.5 million, according to brokerage firm Colliers International Group Inc.

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American Assets Trust Buys Chula Vista Retail Center for $42M

San Diego-based American Assets Trust Inc. has purchased the Gateway Marketplace retail center in Chula Vista for approximately $42 million, the company announced.

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Santee-Based Olson Irrigation Systems Acquired By Pennsylvania Co.

Santee-based Olson Irrigation Systems has been acquired by Evoqua Water Technologies, a global company headquartered in Pennsylvania that provides municipal and industrial water and wastewater treatment equipment and services.

Business Calendar for Week of July 10, 2017

Some of the business events planned in the county for the week of July 10, 2017, and beyond.

Modern Times Beer Puts 30% of Stock in Employee Plan

San Diego-based Modern Times Beer has created what it touts as California’s first employee stock ownership plan (ESOP) to be established by a craft brewer.

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Camp Pendleton Work Part of Contract Awarded to Small Business

F3EA JV LLC, a small business, has been awarded a five-year contract worth up to $16.4 million to support underwater egress training systems at four U.S. Marine Corps bases.

Raken Had Role in Construction of NFL Stadium in Atlanta

A San Diego startup played a role in the construction of the new $1.6 billion National Football League stadium in Atlanta, a facility that will be home to the NFL’s Atlanta Falcons and Major League Soccer’s Atlanta United teams.

Podcast Launching for Women Investors

The founder of San Diego’s female-only angel fund is launching a podcast for women investors.

Thursday, July 6

Tech Heavy Hitters Named to EvoNexus Board

Richard Baldridge, president and chief operating officer at ViaSat Inc., has been elected chairman of the board of directors of EvoNexus, the Irvine Co.-sponsored technology incubator.

A PEAK EXPERIENCE

High on a mountaintop above the congestion and chaos of San Diego County is a Zen-inspired masterpiece on Wild Willow Hollow Road in Escondido.

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Time to Re-evaluate Approach to Fuel Policies

The recent approval of Senate Bill 1 and the $52 billion it will cost Californians through higher fuel taxes and registration fees is a big number tied to promises big enough to obscure the real effects these costs will have on us here at home.

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New Center of Innovation Opens STEM Experiences to Kids

San Diego recently welcomed a new STEM Education facility, called the Center of Innovation, at the Ron Roberts Family Boys & Girls Club at 2230 E. Jewett. U.S. Rep. Scott Peters delivered the opening remarks. The new Center of Innovation is a partnership between Boys & Girls Clubs of America and Raytheon Co. and will provide young military dependents access to advanced technologies to stimulate creative approaches to STEM exploration. The new center will be one of 22 worldwide funded by Raytheon,

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Tapestry to Share $28M Contract

San Diego-based Tapestry Solutions Inc., a part of Boeing Co., received a $28 million U.S. Air Force contract that it will share with another Boeing unit, Jeppesen.

Local Cos. Get Big-Ticket Items in Rough Draft of Defense Budget

A rough draft of the fiscal 2018 Pentagon budget is out, and as usual, it includes some big-ticket purchases from San Diego’s aircraft makers and shipbuilders.

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Escondido Apartment Property Sells for $15 Million

San Diego-based Carv Properties LLC has purchased a 62-unit apartment property in Escondido for $15 million, according to brokerage firm ACRE Investment Real Estate.

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Startup Shows What Good Product And Solid IP Protection Can Do

Lots of young entrepreneurs are chasing ways to monetize software, but Shireen Thor proved that there’s still plenty of money to be made in products.

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Qualcomm Asks Court to Block iPhone Imports

Qualcomm Inc. said July 6 that it has gone to court to bar the importation of Apple Inc. iPhones.

COOL OFFICES

Employee-Focused Work Space Now a Table Stake, Not a Differentiator

Game rooms, funky art installations and even micro-brewery bars are popping up faster than ever in offices around San Diego County. The reason?

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Lemon Named General Manager at Rancho Bernardo Inn

Jamie Lemon has been named general manager of Rancho Bernardo Inn, overseeing all operations of the luxury golf resort and spa at 17550 Bernardo Oaks Drive.

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Slantrange Signs Contract With Bayer CropScience

Slantrange Inc., the San Diego business that helps farmers monitor the health of their crops using remote sensors carried aloft by drones, said on July 6 that it has signed a data collection and analysis agreement with Bayer CropScience LP.

Get Ready to Hit Startup Scene South of the Border

San Diego startup folks will have a chance to tour coworking spaces, dev shops, and manufacturing facilities south of the border later this month during the Tijuana Startup Crawl.

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Klinedinst Promotes Two Attorneys to Senior Counsel

David Majchrzak and Brian Murphy have been elevated to Senior Counsel at Klinedinst PC in the firm’s San Diego office.

Survey Finds Some Obstacles Facing Women in Workplace

WORKFORCE: Athena To Use the Data to Help Shape Programs

Pay inequity and unconscious biases are two of the areas cited in a recent survey as being among the factors holding back career advancement for female life science and technology executives and aspiring managers.

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Executive Q&A Robert Horsman of Endeavor Bank

Robert Horsman, who was recently named chief banking officer for the proposed Endeavor Bank, has had a long and successful career in the industry. He was one of the founders of San Diego National Bank, which was launched in 1981.

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Internet Pioneer Cerf Sees Need to Promote S.D. Technology

LEADERSHIP: Visit Highlights Image Problem That Hurts Local Cos.

Internet pioneer Vint Cerf got a private, three-day crash course in San Diego’s various science and technology pursuits in late June, and told an audience that more people need to get acquainted with the region’s technical side.

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Scripps, Qualcomm Prepare ACO Offering

HEALTH: Provider Invests in System; Partnership Is First for S.D.

Scripps Health’s recent agreement with Qualcomm Inc. to build and manage a customized medical network represents San Diego’s boldest step yet toward a Medicare-born model that holds health care providers financially accountable for lowering costs and improving care.

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FDA Approval Puts Illumina in Clinic

MEDTECH: Diagnostic OK Called ‘Watershed Moment’

Illumina Inc., the quiet giant making instruments for the world’s scientists, just got the OK from federal regulators to bring its technology out of the laboratory and into the clinic.

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Coding Boot Camps Tapped for Talent

TECH: Big Cos. Offering Programs to Diversify Staff

Corporate giants in San Diego are starting to hire software engineers without computer science degrees, testing out talent from the newly popular coding schools and boot camps in California.

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Hotel Del Coronado Joins Hilton’s Curio Collection After Management Change

Its name will not be changing, but the iconic Hotel del Coronado by month’s end will be operating as a Curio Collection by Hilton property, following a management switch to Hilton Hotels & Resorts.

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Wednesday, July 5

Internet Pioneer Sees Need to Promote S.D. Technology

Internet pioneer Vint Cerf got a private, three-day crash course in San Diego’s various science and technology pursuits in late June, and told an audience that more people need to get acquainted with the region’s technical side.

PointPredictive Closes Series A Funding Round

San Diego analytics startup PointPredictive announced Wednesday it has closed a Series A funding round led by Mosaik Partners, a San Francisco-based expansion-stage venture capital fund.

County Construction Starts Down 3 Percent in 2017 After Steep May Decline

The value of San Diego County’s construction starts declined 3 percent in the first five months of 2017, to just over $1.51 billion, as both the residential and non-residential categories experienced much steeper declines from a year ago during the month of May.

PriceSmart Reports Q3 Revenue of $730.3M

San Diego-based company PriceSmart Inc., which owns and operates 39 discount warehouse club stores in Central America and the Caribbean, announced Wednesday that sales in the quarter that ended May 31 were up 3.8 percent to $710.7 million from $684.5 million one year ago.

GoFundMe Co-Founder Joins Board of Guru

Andy Ballester, co-founder of the crowdfunding business GoFundMe, has joined the board of directors of Guru.

Cohn Affiliate Buys Coaster Saloon Property in Mission Beach for $2.1 Million

An affiliate of San Diego’s Cohn Restaurant Group Inc., led by co-founder and President David Cohn, has acquired the mixed-use Mission Beach building currently housing The Coaster Saloon for $2.1 million, according to The Franco Realty Group.

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FDA Grants Special Status to Evofem Drug

A product being developed by local biotech Evofem Biosciences has received a high priority classification from regulators, granting the company a number of perks.

Encinitas Office Building Sold for $10.4 Million

San Diego-based Commercial Equity Partners has acquired an Encinitas office property in a $10.4 million acquisition and private placement offering, according to brokerage firm Cushman & Wakefield.

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Tuesday, July 4

Three Local Startups Recognized as Tech Innovators

Three San Diego startups were named winners of a tech innovation contest by global media company Red Herring.

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Eloxx Pharmaceuticals Raises $6 Million

Eloxx Pharmaceuticals, a subsidiary of La Jolla’s Sevion Therapeutics Inc., has raised $6 million.

Tech San Diego Hires Recruiter to Retain Talent

The exodus of college graduates to Silicon Valley, Austin and other tech hubs is an annual event — as much of the San Diego springtime as the swallows’ return to make mud nests.

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United Way Announces New Board Chairman, Vice Chairman

United Way of San Diego County named Dave Carothers, partner at Carothers DiSante & Freudenberger LLP., as chairman of its board. It also announced Richard Pattenaude, president emeritus at Ashford University, as vice chairman.

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Neology Acquires Tolling Business of 3M’s Transportation Safety Division

Neology, based in the Poway Business Park, said on June 30 that it acquired the tolling and automated license plate recognition business of 3M’s Transportation Safety Division.

Monday, July 3

Manufacturer Leaving Vista, Sees Efficiencies in Pennsylvania

Specialty chemical maker Ferro Corp. plans to shut its plant in Vista by Dec. 31, 2018, eliminating 58 positions.

Vista Equity Partners Invests in PayLease

Vista Equity Partners has acquired a majority stake in San Diego-based software company PayLease, which handles payments and billing for property managers and home owners associations.

Sorrento Valley Office Building Bought for $7.02M By Chinese Company

A 25,953-square-foot office building at 5890 Pacific Center Blvd. was purchased by Smart Lucky Technology Inc. of Dongguan, China, for $7.02 million, according to Michael Mazzotta of xREIT.com.

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Sunday, July 2

Comic-Con to Stay in San Diego Through 2021

Comic-Con International will remain in San Diego through 2021.

Sorrento Gets FDA OK for Human Trials of Non-Opioid Pain Treatment

Local drugmaker Sorrento Therapeutics Inc. just got the OK from regulators to start human trials for a non-opioid medicine that might treat chronic pain.

Imprimis Pharmaceuticals to Focus on Ophthalmology, Sells Pennsylvania Facility and Some Assets

San Diego’s Imprimis Pharmaceuticals is selling off some assets and closing a facility in Pennsylvania as part of a move to focus on its research pipeline.

The Business Calendar for the Week of July 3, 2017

Some of the business events planned in the county for the week of July 3, 2017, and beyond.

San Diego Economic Index for May Shows Little Change

A local index of leading economic indicators for San Diego County barely budged in May, rising by 0.1 percent compared to April as the components of the index moved minimally.

California Economic Activity Index Increases in April

Comerica Bank’s California Economic Activity Index increased by 0.9 of a percentage point in April to reach 129.7, marking more than a year of consecutive gains.