San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Alpine Medical and Office Building Sells for $6 Million

A buyer recorded as Alpine Regional Center LLC has purchased a multi-tenant medical and office building in Alpine for $6 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

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Downtown Sheraton Suites Hotel Sells for $50 Million

An affiliate of Maryland-based Marriott International Inc. has acquired the 264-room Sheraton Suites San Diego hotel in the downtown area for approximately $50 million, according to CoStar Group and public data.

Isis Receives $15 Million Milestone Payment from GlaxoSmithKline

Isis Pharmaceuticals Inc. announced Monday that it has earned a $15 million milestone payment from GlaxoSmithKline Plc.

Mast Therapeutics Releases Results of Heart Failure Treatment

Mast Therapeutics Inc., a clinical stage biopharma company, has released results from a nonclinical study testing the drug vepoloxamer for the treatment of heart failure.

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Marketing Agency Piston Acquired by LEWIS PR

LEWIS PR, a global communications agency, has acquired Piston, a full-service digital agency based in San Diego.

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Downtown Residence Inn Sells for $90 Million

Chatham Lodging Trust of Palm Beach, Fla., has purchased the 240-room Residence Inn San Diego Downtown hotel for $90 million, according to CoStar Group and public data.

Who’s Your IT Superhero?

The San Diego Business Journal is proud to be the media sponsor for the 2015 Top Tech Exec Awards. This is your chance to focus some well-deserved recognition on one of your information technology colleagues with a nomination for a Top Tech Exec Award.

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Isis Pharmaceuticals Reports Net Income of $31M for Q4

Isis Pharmaceuticals Inc. reported a significantly improved fourth quarter net income of $31 million, up from a net loss of $24.3 million in the same quarter last year.

Hot Tub Maker Watkins Manufacturing Acquires Endless Pools

Vista-based Watkins Manufacturing Corp., the world’s largest manufacturer of hot tubs, has acquired Endless Pools Inc. through Watkins' parent company, Masco Corp.

3D Robotics Secures $50M Series C Funding Round

3D Robotics, a maker of small unmanned aircraft which it hopes to sell to businesses, said that it received $50 million in a series C funding round led by Qualcomm Inc. (Nasdaq: QCOM).

The Business Calendar for the Week of March 2, 2015

Some of the business events planned in the county for the week of March 2, 2015, and beyond.

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Imperial Beach Apartments Purchased for $20.2 Million

The Apartment Co. of San Diego has acquired the 134-unit Clubhouse at Imperial Beach apartment community for $20.2 million, according to real estate services company HFF, which represented the seller.

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Otonomy Submits Pediatric Drug for FDA Approval

Otonomy Inc., a company that makes treatments for the middle and inner ear, has submitted a drug candidate for regulatory approval following encouraging Phase 3 data.

Two Local Farmers Insurance Agencies Merge

Marie Milliman Farmers Insurance announced its merger with Keith Roby Farmers Insurance.

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Sempra Energy Reports 2014 Earnings of $1.16 Billion

Sempra Energy, the San Diego-based energy holding company and parent to San Diego Gas & Electric Co., unveiled its 2014 financial results Feb. 26, reporting earnings of $1.16 billion on total revenue of $11.04 billion.

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ResortCom International Chairman John Small Steps Down

John E. Small, chairman of San Diego-based ResortCom International for the last 16 years, announced that he is stepping down effective May 1.

Otonomy Submits Drug for FDA Approval

Otonomy Inc., a company that makes treatments for the middle and inner ear, has submitted a drug candidate for regulatory approval following encouraging Phase 3 data.

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Isis Pharmaceuticals Reports Q4 Results

Isis Pharmaceuticals Inc. reported a significantly improved fourth quarter net income of $31 million, up from a net loss of $24.3 million in the same quarter last year.

Hot Tub Maker Watkins Acquires Endless Pools

Vista-based Watkins Manufacturing Corp., the world’s largest manufacturer of hot tubs, has acquired Endless Pools Inc. through its parent company, Masco Corp.

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Apartments Near Imperial Beach Sold for $20.2 Million

The Apartment Co. of San Diego has acquired the 134-unit Clubhouse at Imperial Beach apartment community for $20.2 million, according to real estate services company HFF, which represented the seller.