San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Cubic Receives $2.9 Million Contract From Romanian Military

Cubic Corp. said on Feb. 19 that it received a $2.9 million deal from the Romanian military to provide its MILES laser training equipment.

Borrego Solar to Begin Construction on N.Y. System

Borrego Solar Systems Inc. is about to begin construction of a 3.9-megawatt wholesale distributed generation solar energy system in Suffolk County, N.Y., the company announced Thursday.

Sempra Energy to Partner with Petroleos Mexicano on Natural Gas Facility

Sempra Energy has agreed to join state-run Petroleos Mexicanos’s plan to build the first export facility for liquefied natural gas in Mexico at an import terminal on the Pacific Coast.

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OCTANe's CEO to Join UCSD Healthcare System

Matthew Jenusaitis will step down as president and chief executive officer of Aliso Viejo-based OCTANe to join the University of California San Diego Healthcare System.

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Church Buys Miramar Office Building for $3.2 Million

Bread of Life Church has purchased an office building in San Diego’s Miramar neighborhood for $3.2 million, with plans to convert the property for a church and related operations, according to Voit Real Estate Services.

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Retail Building Housing Dave & Buster’s Sold for $11.9 Million

Store Capital of Scottsdale, Ariz., has purchased a Mission Valley retail building housing the restaurant Dave & Buster’s for $11.9 million, according to real estate advisory firm Faris Lee Investments, which represented the buyer and seller.

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Report: Craft Beer Generates $600 Million for Region’s Economy

San Diego County’s craft beer breweries and brewpubs generated $600 million in regional economic impact during 2014, a doubling since 2011, according to the latest updated report by National University System Institute for Policy Research.

Kratos Defense Divisions Receive Contracts, Order

Kratos Defense & Security Solutions Inc. said that one of its divisions received a $17 million contract.

ClosingCorp Names Mugge Senior VP of Program Development

ClosingCorp, a provider of real estate closing cost data and technology for the residential real estate industry, announced Dan Mugge as its new senior vice president of program development.

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Escondido Industrial Park Sells for $7.3 Million

A San Diego entity recorded as 15 North LLC has purchased an Escondido industrial property known as Simpson Business Park for $7.3 million, according to brokerage company Lee & Associates, which represented the seller.

Fresh Healthy Vending Awarded Contract With Largest Minnesota School District

San Diego-based Fresh Healthy Vending International Inc., a vending franchisor focusing on healthful foods, has been awarded a 1.5 year contract to place snack and beverage choices in Minnesota’s largest school district.

Cubic Announces Restructuring, Reviewing Financial Statements

Cubic Corp. announced on Feb. 18 that it was restructuring, saying that it will fold together its two defense segments and lay off less than 2 percent of its staff, all in an effort to improve profitability and competitiveness.

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Realty Income Posts 2014 Increases in Revenue, Net Income

Revenue at Realty Income Corp. rose 19.6 percent in 2014, reaching $933.5 million, as net income available to common stockholders increased 11.7 percent from 2013, totaling $227.6 million, the Escondido-based company reported.

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New Local Kidder Mathews Office Adds 4 More Commercial Brokers

The newly opened San Diego office of commercial brokerage firm Kidder Mathews has added four experienced brokers to its roster, including three more who switched over from the local office of Cushman & Wakefield Inc.

Neurocrine Announces $225 Million Public Stock Offering

San Diego-based Neurocrine Biosciences Inc. has begun an underwritten public offering of shares of its common stock to raise aggregate proceeds of about $225 million.

State Department Reportedly Changing Export Rules on Drones

The State Department said on Feb. 17 that it is changing its export rules covering unmanned aircraft.

Institute for Evidence-Based Change Awarded $1 Million Grant

The Encinitas-based Institute for Evidence-Based Change (IEBC) has been awarded a $1 million grant from the James Irvine Foundation to continue data support for Linked Learning schools and to provide data to research/evaluation partners and other stakeholders in the Linked Learning field.

Jack in the Box Reports Q1 Earnings

San Diego-based Jack in the Box Inc. reported earnings from continuing operations of $37.1 million, or $0.94 per diluted share, for the first quarter ended Jan. 18, compared with earnings from continuing operations of $33 million, or $0.75 per diluted share, for the first quarter of fiscal 2014.

SDG&E Receives $5 Million Grant to Expand Mircogrid

San Diego Gas & Electric announced it has received a $5 million grant from the California Energy Commission to expand the Borrego Springs Microgrid.

West Coast Port Dispute Felt in San Diego

A dispute between management and labor at West Coast ports touched the Port of San Diego Feb. 14-16. Two ships that reached their berths during the three-day weekend did not unload during that time, according to a port spokeswoman.