San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Crowne Plaza Hanalei Hotel in Mission Valley Gets New Owner

A private client of Irvine-based Brighton Management has purchased the 419-room Crowne Plaza Hanalei hotel in Mission Valley for an undisclosed price, according to brokerage firm CBRE Group Inc.

ScaleMatrix Opens Accelerater/Coworking Space for Startups

Computer storage specialist ScaleMatrix, a local startup that’s grown rapidly in the last few years, is opening a startup accelerator and coworking space for life science and technology companies.

Navy Awards Northrop Grumman $9.6 Million Contract

The U.S. Navy said Dec. 5 that it placed a $9.6 million software order with Northrop Grumman Corp.

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Illumina Expands Team With Appointment of Sam Samad as SVP/CFO

Local science technology giant Illumina Inc. has announced the expansion of its senior leadership team with the appointment of Sam A. Samad.

Qualcomm Demonstrates First Processor for Data Centers

Qualcomm Inc. said it demonstrated its first processor for data centers in a move interpreted as a challenge to rival processor-maker Intel Corp. (Nasdaq: INTC). Qualcomm (Nasdaq: QCOM) added that it was distributing samples of its Centriq 2400 server processor to potential industry partners.

SeaWorld San Diego Cutting 60 Jobs Amid Nationwide Layoffs

SeaWorld San Diego is laying off 60 workers, as part of 320 nationwide job cuts announced Dec. 6 by its Florida-based parent firm, SeaWorld Entertainment Inc.

Local Job Growth Expected to Slow Next Year

Despite a hiring surge in health care and gains in hospitality, job growth in San Diego County will slow next year as the area’s high cost of living limits the inflow of job-seekers, according to a new report by Los Angeles-based Beacon Economics LLC.

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CBRE to Relocate Main San Diego Office to Westfield UTC

Commercial real estate services firm CBRE Group Inc. plans to move its central San Diego office in University Towne Center to the Westfield UTC mall, which is currently undergoing a $585 million renovation and expansion by owner Westfield Corp.

Noble Americas Energy Solutions Acquired By Texas-Based Company

Power plant operator Calpine Corp. has acquired San Diego-based Noble Americas Energy Solutions LLC, one of the nation’s leading energy retailers.

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US Grant Hotel Nears Completion of $13 Million Revamp

Operators are nearing completion of a $13 million revamp of downtown San Diego’s The US Grant hotel, which included an update of its lobby, meeting and wedding venues, fitness center and all 270 guest rooms.

Anderson Audio Visual Acquired By Florida-Based Company

San Diego-based Anderson Audio Visual has been acquired by Tampa, Fla.-based AVI-SPL.

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Sorrento Mesa Industrial-Office Property Sells for $7 Million

A San Diego buyer recorded as Rodney R. Starkey A Trust has acquired a Sorrento Mesa industrial building for $7 million, according to brokerage firm Marcus & Millichap.

Quartus Engineering Relocates Its Headquarters, Manufacturing Space to New Facility in UTC

San Diego-based engineering and manufacturing firm Quartus Engineering Inc., which works with the aerospace, defense and optical industries, recently relocated its corporate headquarters, offices and manufacturing space to a new 47,000-square-foot facility in University Towne Center.

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Otonomy Inc. Names New Chief Scientific Officer

San Diego drugmaker Otonomy Inc. is bringing on a new chief scientific officer with the appointment of Kathie M. Bishop.

Arcturus Therapeutics to Collaborate With Takeda on Therapies for Liver Ailment

Arcturus Therapeutics, a biotech upstart in San Diego, is collaborating with global pharmaceutical giant Takeda Pharmaceuticals to develop therapies for fatty liver disease.

Qualcomm Spinoff Gimbal Acquired By a Santa Monica-Based Mobile Media Company

Gimbal, a tech business that was spun out of Qualcomm Inc. in 2014, has been sold to a Santa Monica business called The Mobile Majority.

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County’s Construction Starts Rise 29% in First 10 Months of 2016

The value of San Diego County’s construction starts rose 29 percent from a year ago in the first 10 months of 2016, topping $3.61 billion, according to the latest monthly figures from Dodge Data & Analytics.

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Innovative Industrial Properties Begins Selling Stock Shares

San Diego-based Innovative Industrial Properties Inc., a new investment company focused on medical-use cannabis facilities, plans a Dec. 6 close on a $67 million initial public offering of common stock that began on Dec. 1.

Varioscale Inc. Gets $23.8M Air Force Contract to Develop a Prototype Analysis Tool

The Defense Department buys big-ticket items, but sometimes it concentrates on the very small.

LPL Financial CEO to Retire January 3

Mark Casady, CEO of LPL Financial LLC, a custodian for registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc., will retire Jan. 3, the company announced Dec. 5.