San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Rancho Bernardo Industrial Building Sold for $7.4 Million

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

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

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

Business Calendar for September 26, 2016

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

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Mission Valley Retail Center Sold for $14 Million

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

Oceanside Glasstile Acquires Spectrum Glass Co.

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

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

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

Allergan Buys Akarna Therapeutics for $50M

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

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

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

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

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

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RAR Hospitality Adds New San Marcos Hotel to Its Portfolio

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

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

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

Xencor Expanding L.A. County Operations Into San Diego

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

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KCD PR Acquires Wall & Broadway

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

Local Office of BNBuilders Gets $8.48M Caltech Lab Project

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

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Bankers Hill Apartment Property Sells for $3.89 Million

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

Novatel Sells Wireless Hotspot Business for $50 Million

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

Tealium Raises $35 Million to Fund Global Expansion, Innovation

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

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Encinitas Office Condo Sold for $2.2 Million

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

Google Exec Reportedly Starting Company in San Diego

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

Cobham Gets Multimillion-Dollar Contract

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