San Diego Business Journal


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San Diego Medical Office Building Sells for $3.45 Million

Activity MOB LLC, an affiliate of Oasis Medical Center of San Diego, has acquired a Miramar office property for $3.45 million, according to Voit Real Estate Services, which represented the seller.

Business Events Calendar for Week of January 26, 2015

Some of the business events planned in the county for the week of January 26, 2015, and beyond.

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El Cajon Apartment Property Sells for $3.9 Million

Wisconsin Apartments LLC of San Diego has purchased the 22-unit Wisconsin Terrace Apartments in El Cajon for $3.9 million, according to brokerage company Berkadia Real Estate Advisors LLC, which represented the buyer.

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Coffee Bean Opening New Café in University City

Los Angeles-based The Coffee Bean & Tea Leaf plans a Jan. 27 opening at 3939 Governor Drive, in San Diego’s University City neighborhood, which will be the company’s 17th location in San Diego County.

SCS Chosen for Environmental Consulting on I.B. Commercial Corridor Project

SCS Engineers have been contracted by Project Design Consultants to provide environmental consulting services on the City of Imperial Beach’s Palm Avenue Mixed Use and Commercial Corridor Master Plan Project, according to SCS.

TRACON Pharmaceuticals Announces Terms for IPO

TRACON Pharmaceuticals Inc., which is developing antibodies to treat cancer, age-related macular degeneration and fibrotic diseases, announced terms for its IPO.

Seasonal Hiring Drops Unemployment Rate to 5.2 Percent in December

San Diego’s unemployment rate fell to 5.2 percent in December from a revised 5.8 percent in November, buoyed by an increase in seasonal hiring in the retail sector.

Rojeck Assumes Chair Role for Certified Financial Planner Board of Standards

San Diegan Richard Rojeck has begun his role as Chair of the Board of Directors for Certified Financial Planner Board of Standards Inc., a nonprofit organization that certifies more than 71,000 professionals as Certified Financial Planners.

City National Bank to be Acquired for $5.4 Billion

City National Bank, based in Los Angeles and with seven offices in San Diego, said it signed a definitive agreement to be acquired by Royal Bank of Canada in a stock and cash deal valued at $5.4 billion.

Solana Beach Investment Firm Promotes Three Top Staffers

Gurtin Fixed Income Management LLC, a Solana Beach-based investment firm specializing in municipal bonds, promoted several top staffers as it grows its team.

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ResMed's Q2 Income of $91.2 Million Surpasses Expectations

ResMed Inc. reported fiscal second-quarter net income of $91.2 million on Thursday.

California Tribal Leaders to Discuss Gaming Industry's Future

Leaders of California Indian tribes that run casino and hospitality businesses will convene on the Rincon reservation outside Valley Center next month to discuss what’s next for their industry.

El Cerrito Tagged as Nation's Most Popular Neighborhood

The most popular neighborhood in the nation is El Cerrito in East San Diego, says Redfin, the Seattle-based real estate brokerage.

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Otonomy Files for Proposed Follow-On Public Offering

San Diego-based Otonomy Inc. has filed for a proposed follow-on public offering of $75 million of its common stock.

Trovagene Expands Collaboration With Genomac Research Institute

San Diego-based Trovagene Inc., a molecular diagnostics company, announced that it will expand the clinical collaboration with Genomac Research Institute in Prague, Czech Republic.

Silvergate Capital Obtains $8 Million Stock Investment

Silvergate Capital Corp., parent company to San Diego-based Silvergate Bank, obtained $8 million in a stock investment from BankCap Partners, a Dallas-based private equity firm, at the end of last year, providing funds for expanding and for repurchasing existing stock, said CEO Alan Lane.

Seacoast Commerce Banc Reports Q4 Net Income of $830,000

Seacoast Commerce Banc Holdings, the parent company for Seacoast Commerce Bank, reported 2014 fourth-quarter net income of $830,000, compared to net income of $251,000 for the same quarter in 2013.

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Three Local Properties Part of $482 Million Apartment Portfolio Deal

Three San Diego County properties are part of a 14-property apartment portfolio acquired by Los Angeles-based TruAmerica Multifamily for approximately $482 million.

General Atomics Receives Multimillion-Dollar Contract

General Atomics Aeronautical Systems Inc. of Poway received a multimillion-dollar contract to provide logistics support for unmanned aircraft operated by the United Kingdom. The Pentagon announced the award — which is not to exceed $34.6 million — on Jan. 20.

Qualcomm Shares Dip on Reports of Samsung Using Its Own Chip

Media reports that Samsung does not plan to use Qualcomm Inc.’s Snapdragon 810 chip for its next smart phone apparently sent Qualcomm (Nasdaq: QCOM) shares lower on Jan. 21 before they quickly recovered.