San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Searsucker to Open First Venue in Los Angeles Market

San Diego celebrity chef and restaurateur Brian Malarkey plans to open a new location of Searsucker in Santa Monica this winter, making it the restaurant’s first in the Los Angeles area.

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JMI Equity Closes $1 Billion Fund

JMI Equity, a private equity firm with offices in San Diego and Baltimore, said it closed its largest fund ever this week-— $1 billion for JMI VIII.

Search Optics Acquires DigiGo

Search Optics, a digital marketing business based in San Diego, said it acquired KPA’s DigiGo division, formerly known as TK Carsites. Terms of the agreement weren’t disclosed.

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Batu Biologics Completes $100,000 Crowdfunding

A San Diego-based immunotherapy company has successfully completed $100,000 of financing by utilizing an unusual fundraising approach — crowd funding.

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R.A. Rauch to Manage and Market Keating Hotel in Gaslamp Quarter

R.A. Rauch & Associates, a San Diego-based hospitality management and consulting firm, has entered into a partnership with locally headquartered Gotham Management, in which R.A. Rauch will manage and market Gotham’s Keating Hotel in the Gaslamp Quarter.

Navy Selects 5 Vendors for Next Generation IT Network for Ships

The U.S. Navy chose five vendors to provide the next-generation information technology network for its ships, announcing the winners on Aug. 20.

Clothing Retailer H&M Opening Store in El Cajon

Fashion retailer H&M plans to open its newest local store this fall at the Parkway Plaza mall in El Cajon. It will be the sixth San Diego County store for the Sweden-based company, also known as Hennes & Mauritz.

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Jamba Juice ‘Hiring Day’ Recruitment Seeks 1,000 New Workers

Emeryville-based Jamba Juice Co. plans to hold a National Hiring Day on Aug. 21, recruiting in several California cities including San Diego as it seeks to add up to 1,000 new employees.

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Sanford-Burnham Medical Research Institute Names Nisen CEO

Sanford-Burnham Medical Research Institute’s board of trustees has appointed Perry Nisen as CEO and holder of the Donald Bren chief executive chair for the institute’s La Jolla-based headquarters.

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San Diego Places Fifth Among U.S. Meeting Destinations

San Diego placed fifth on the latest list of the nation’s top 50 meeting and event destinations, published by event management technology provider Cvent Inc.

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Pathfinder Partners Buys Vista Retail Center for $7.35 Million

San Diego-based Pathfinder Partners LLC has purchased Breeze Hill Promenade, a three-building retail center in Vista, for $7.35 million, according to CoStar Group and public data.

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Admiral Discusses Navy's Local Needs and Role

Constrained defense budgets and constraints to the Port of San Diego were two domestic topics that Adm. Samuel Locklear III touched on during a visit to San Diego on Aug. 19. The commander of the U.S. Pacific Command has responsibility for the globe “between Hollywood and Bollywood.”

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Mitek Sees Stock Drop as CTO Leaves, Some Patent Lawsuits Dismissed

Mitek Systems , a San Diego maker of software used by more than 2,500 financial institutions for transferring money via mobile devices, saw its stock plunge 18 percent Aug. 18 following the company’s announcement that its chief technology officer abruptly left the company.

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Two San Diego Apartment Properties Get New Owners

Del Coronado Villas LLC of Del Mar has acquired the 24-unit Coronado Villa Apartments in San Diego for $5.7 million.

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SR Commercial Buys Miramar Property Portfolio for $40 Million

Investment firm SR Commercial of Solana Beach has purchased a portfolio of 17 Miramar industrial and office buildings for $40 million, according to CoStar Group and public data.

San Diego City Council Overrides Veto of Minimum Wage Hike

San Diego City Council has voted 6-2 to override Mayor Kevin Faulconer’s veto of a measure to raise the city’s minimum wage to $11.50 an hour by 2017.

County Business Forecast Index Drops 8 Points in July

The San Diego Business Forecast, an index measuring the county’s business outlook, showed a dramatic decline in July, falling 8 points from June.

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Celladon Announces Closing of Public Offering of Common Stock

Celladon Corp., a San Diego-based biotech company, has announced the closing of its underwritten public offering of 4,600,000 shares of its common stock at $9.50 per share.

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Cytori Appoints Girão VP and CFO

San Diego-based Cytori Therapeutics Inc. announced that Tiago Girão has been appointed vice president and chief financial officer.

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General Dynamics AIS Gets $19.5M Defense Contract

The U.S. Navy said on Aug. 18 that it awarded General Dynamics Advanced Information Systems a $19.5 million contract for electronics that protect ships from missiles.