San Diego Business Journal


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Golden Hill Apartment Property Sells for $4.1M

Dadah Family Trust of Laguna Hills has purchased a 14-unit apartment property in San Diego’s Golden Hill neighborhood for $4.1 million, according to brokerage firm Apartment Realty Group Inc. (ARG).

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S.D. Ranks Fifth on List of Top U.S. Meeting Destinations

San Diego ranks fifth among U.S. markets in an annual ranking of the top 50 destination cities for meetings and events, published by the event management services provider Cvent Inc.

Business Calendar for Week of May 23, 2016

Some of the business events planned in the county for the week of May 23, 2016.

Glacier Water Reports Q1 Results

Vista-based Glacier Water Services Inc. announced its first quarter results May 19 with 2.8 percent revenue growth to $31.8 million and a jump in operations income.

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Stone Brewing Co. Expanding to Wine Country with Napa Tap Room, Brewery

Stone Brewing Co. plans to open a new beer tap room and pilot brewery in downtown Napa, marking the latest expansion beyond San Diego County for the Escondido-based company.

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Avalon and GSK Launch Eighth Startup, Report Milestones

Avalon Ventures is launching yet another startup out of its VC incubator in La Jolla. The firm, called PDI Therapeutics Inc., is jointly backed by British drugmaker GlaxoSmithKline and San Diego’s Avalon as part of an ongoing partnership.

Seacoast Commerce Banc Holdings Announces Quarterly Dividend

San Diego-based Seacoast Commerce Banc Holdings, the parent company of Seacoast Commerce Bank, announced the company’s first regular quarterly cash dividend of $0.05 per common share.

Navy Awards Cypher Analytics Five-Year, $28.8 Million Contract

The U.S. Navy awarded San Diego-based Cypher Analytics Inc. a contract that could be worth up to $28.8 million over five years.

Chamber Poll Finds Looming Minimum Wage Hike Dampening Business Optimism

San Diego County business owners are less optimistic about prospects ahead because of the planned increases in the minimum wage and their own doubts about future hiring, the San Diego Regional Chamber of Commerce reported on May 19.

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Edico Genome Secures Patent, Strengthens IP Position

Bioinformatics firm Edico Genome Corp. has landed its third foundational patent, the company announced Thursday. The patent further secures the company’s core technology, and may ease the minds of collaborators considering new applications for the tech.

Alaska Airlines Adds Three More Daily Stops in San Diego

Alaska Airlines announced it will add more stops in California between San Diego, Sacramento, Burbank and San Jose.

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Italian Restaurant Chain Spoleto Plans Six Local Eateries

Brazil-based Spoleto, a fast-casual Italian restaurant chain that lets customers choose ingredients for their entrees, plans to open six of its first seven California locations in San Diego County.

Realty Income Begins $385.8 Million Stock Offering

Realty Income Corp. has commenced an offering of common stock expected to raise approximately $385.8 million in gross proceeds, the San Diego-based company announced.

General Atomics Demonstrates Railgun During Army Exercise

General Atomics Electromagnetic Systems said that it demonstrated its Blitzer railgun during a three-week U.S. Army exercise in April at Fort Sill, Okla.

TPT Global Tech Inc. Acquires Trucom Networks

Downtown San Diego-based TPT Global Tech Inc. said it acquired Trucom Networks, a competitive local exchange carrier in Arizona and Nevada. Terms of the deal were not disclosed.

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Bankers Hill Senior Apartments Reopen After Extensive Renovation

Developers have reopened the 150-unit Westminster Manor in Bankers Hill, following a $55.2 million acquisition and renovation of the senior affordable apartment property, according to the San Diego Housing Commission.

Ron's Pharmacy Partners with Atlanta-Based Guardian

San Diego-based Ron’s Pharmacy Services has joined forces with Atlanta-based Guardian Pharmacy to streamline certain efforts.

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Fireplace Manufacturer Buys Miramar Industrial Building for $2.17 Million

An affiliate of San Juan Capistrano-based Capo Fireside, a custom fireplace manufacturer, has purchased a Miramar industrial building for $2.17 million, according to brokerage firm Colliers International Group Inc.

Innovus Pharma Plans to Uplist

Penny stock Innovus Pharmaceuticals Inc. announced plans Wednesday to uplist to the NYSE MKT, formerly known as the American Stock Exchange.

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City Heights Apartment Property Sells for $3 Million

Xavier Family Trust of Del Mar has purchased a 24-unit apartment property in San Diego’s City Heights neighborhood for approximately $3 million, according to brokerage firm South Coast Commercial Inc.