SD BUSINESS JOURNAL DAILY ENEWS

Mercato Closes $4M Funding Round

E-Commerce Startup Aims to Deliver for Independent Grocers

Mercato, a San Diego startup building an e-commerce platform for independent grocers, recently closed a $4 million funding round.

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Incubator Shuts Down Amid Allegations

STARTUPS: Eleven Companies Affected By Sudden Closure

With its CEO and board members facing allegations in a civil lawsuit, tech incubator ThinkTank Innovation Inc. suddenly shut down on July 8.

StemoniX’s Growth Pushes It Into New Larger Facility

Its microOrgan Platform Provides More Human-Like Testing Opportunities

StemoniX — a San Diego biotech that grows micro organs from stem cells for drug testing — moved into a larger research facility this month.

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Miramar Office Building Bought For $13.9 Million

A Miramar office building has been sold to Tappan Corp. of Lake Forest for $13.9 million.

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Historic Mixed-Use Building Sells for $6.3M

A historic mixed-use building in downtown San Diego’s Gaslamp Quarter has been sold to an undisclosed buyer for nearly $6.3 million.

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Office Building Brings $5.8M

A Kearny Mesa office building has been sold for $5.8 million.

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Complex Sold For $2.5 Million

A Golden Hill apartment complex has been sold for $2.5 million.

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PCI Leases Building In Technology Park

Irvine Co. Office Properties has leased a 38,000 square foot building in Sorrento Mesa to PCI Pharma Services.

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Industrial Warehouse Leased for $2.4M

An El Cajon industrial warehouse has been leased for $2.4 million.

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UC Board of Regents To Receive $50M in Settlement From USC

It Was Alleged That School Poached Research Program; USC Admits Ethics Lapses

The University of Southern California will pay UC San Diego $50 million to settle a lawsuit that alleged USC improperly commandeered an Alzheimer’s

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Parkinson’s Disease Drug from Neurocrine Accepted for U.S. Review

The U.S. Food and Drug Administration will consider giving marketing approval to Neurocrine Biosciences’ drug for Parkinson’s disease.

Illumina Shares Fall on Lower Revenue Expectations

Illumina’s stock fell 16% in after-hours trading after the company reduced its revenue expectations for the second quarter and the rest of 2019.

Airport Is One Step Closer to Mass Transit Option

A collaboration between the U.S. Navy and SANDAG, the San Diego Association of Governments, will allow the parties to explore possible options for redevelopment of the Naval Base Point Loma Old Town Campus, near San Diego International Airport.

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San Marcos Mobile Home Park Sold For $11.5M

The park has 93 spaces.

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South Pacific Tuna Corp. to Sell Over Half of U.S. Fishing Vessels

According to a press release, the sale will bring the company’s fleet down to six by the end of 2019 and reduce production by 70,000 tons of tuna.

Pacific Beach Apartments Sold For $3.7M

The complex has eight apartments.

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Harvesting Tools Aim At Cannabis Market

MANUFACTURING: Co. Forecasts $12 Million in Revenue for 2019

Cullen Raichart has always had a knack for mechanics and machinery. As a teenager, he remembers helping his dad solve a problem he had with a machine by taking a part out of another machine and putting them together.

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Community to Get Needed Retail Space

PROPERTY: 90,000 Square Feet Planned

After several false starts, a redesigned retail portion of San Elijo Hills Town Center that will include the final pieces of the more than 3,500-home community covering 1,920 acres in southwest San Marcos is nearing completion.

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Carlsbad-Based Coworking Company Expands to Washington D.C.

Carlsbad-based coworking company signed a lease to open a new space in Washington D.C. It's the fourth lease the company has signed so far this year.

Scripps-Led Effort Receives $129M Grant for HIV Vaccine

An international partnership led by Scripps Research on July 10 pulled in a $129 million grant to bring a potential HIV vaccination into clinical testing.