San Diego Business Journal


County’s Unemployment Rate Inched Up to 5.1 Percent in June

The unemployment rate in San Diego County was 5.1 percent in June 2016, up from a revised 4.2 percent in May 2016, and below the year-ago estimate of 5.2 percent, according to a news release from the state Employment Development Department.

ProSol Associates Receives 5-Year Contract to Teach at Marine Corps Installations

ProSol Associates LLC, a small business based in Alexandria, Va., received a five-year contract to teach communications electronics at Marine Corps Base Camp Pendleton and other Marine Corps installations. Local work is valued in the millions of dollars.

App-Enabled Jet Booking Service Expands to San Diego

Florida-based JetSmarter recently announced an expansion into the San Diego market for its app-enabled service that lets travelers book single seats on private jets.

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Alaska Airlines Offering New Direct Local Flights to Newark

Alaska Airlines will offer new daily nonstop service between San Diego and Newark, New Jersey, beginning Nov. 21, the carrier and San Diego International Airport officials announced.

Survey: Development Sentiment Strong Despite Growth Concerns

California commercial developers generally remain optimistic about prospects for new projects through 2019, though there are concerns about a potential slowdown in economic growth, according to the latest statewide survey from UCLA Anderson Forecast and the law firm Allen Matkins.

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Kensington Apartments Sold for $2.77 Million

A La Jolla buyer recorded as Beachfront I LP has acquired a 12-unit apartment property in San Diego’s Kensington neighborhood for approximately $2.77 million, according to brokerage firm Apartment Realty Group Inc. (ARG)

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El Cajon Retail Buildings Sell for $4.55 million

A Lemon Grove buyer recorded as El Cajon Investments Group LLC has acquired a two-building retail property in El Cajon for $4.55 million, according to CoStar Group and public data.

UCSD to Open Tokyo Office to Further Japanese Partnerships

The University of California, San Diego is opening an office in downtown Tokyo, where researchers will seek partnerships with Japan’s booming life science industry.

Cubic Corp. Exec to Talk Up Co. at Comic-Con

A Cubic Corp. executive will be at Comic-Con — no joke — to discuss company projects funded by the Defense Department.

New Accelerator to Target Cannabis Technology Companies

A new business accelerator targeting cannabis technology companies is opening in San Diego.

Nomination Deadline Extended for 2016 Manufacturing Awards

The San Diego Business Journal is now accepting nominations for the 2016 Manufacturing Awards, which honors companies and individuals within the San Diego community in the manufacturing industry.

Good Source Solutions Acquires Louisiana-Based Pon Food Corp.

Carlsbad food distributor Good Source Solutions has acquired Pon Food Corp., a Louisiana-based frozen food distributor, for an undisclosed price.

GA-ASI Awarded $31.8 Million Air Force Contract

The U.S. Air Force awarded General Atomics Aeronautical Systems Inc. a $31.8 million delivery order for ground-control stations.

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Bay Club Buys Fairbanks Ranch Country Club

The Bay Club Company of San Francisco has acquired Fairbanks Ranch Country Club in Rancho Santa Fe, but the parties were not immediately disclosing the purchase price.

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Vista Apartment Complex Sold For $24.2 million

The Mogharebi Group (TMG) has completed the sale of Mesa Garden, a 124‐unit apartment complex, for $24.2 million. The buyer was a private investment group based in San Diego.

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Rachna Kumar Named Dean of Alliant School of Management

Rachna Kumar has been appointed dean of Alliant School of Management at Alliant International University.

County Supervisors Vote for Study on Lilac Hills Ballot Measure

The San Diego County Board of Supervisors has voted to have staff study a proposed November ballot measure on the controversial Lilac Hills Ranch development, which recently qualified for the ballot following an initiative petition drive by supporters.

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Synthetic Biology Firm Synthorx Raises $10 Million

Synthorx Inc., a synthetic biology company in San Diego, raised $10 million in a Series B financing, the company announced Wednesday.

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Coronado Retail Properties Sell for $5.2 Million

A local buyer recorded as 820 Orange Av LLC has acquired a two-building retail property portfolio in Coronado for $5.2 million, according to CoStar Group and public data.

TPT Global Technology Acquires Assets of Goodwin Global

TPT Global Technology Inc., a downtown San Diego-based telecommunications company, said July 19 that it acquired the assets of Goodwin Global, an international wholesale telecom carrier. Financial terms of the deal were not disclosed.