San Diego Business Journal


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.

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Expedia Travel Agency Division Opens San Diego Location

Expedia CruiseShipCenters, a division of online travel information provider Expedia Inc. that markets and sells cruise vacations through franchised offices, recently opened a San Diego location.

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Tealium Closes $30.7M in Series D Financing

San Diego-based Tealium, which offers tag management and digital data distribution and other software solutions to maximize online marketing, said it has closed $30.7 million in Series D financing.

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San Diego Industrial Building Sells for $4.95 Million

A Beverly Hills entity recorded as 3055 Del Sol LLC has purchased an industrial building in Otay Mesa West for $4.95 million, according to brokerage company Marcus & Millichap Inc., which represented the seller.

Regen BioPharma Appoints Todd Caven CFO

Todd Caven has been appointed the new chief financial officer of Regen BioPharma Inc., a La Mesa-based biotechnology company focused on identifying undervalued regenerative medicine applications in the immunotherapy and stem cell space.

Mor Furniture Opens 30th Store

San Diego-based Mor Furniture for Less announced the opening of its 30th store.

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Lincoln Property Buys Carlsbad Buildings for $11.9 Million

Lincoln Property Co. has purchased a two-building office and industrial park in Carlsbad for $11.9 million, the Dallas-based investment and development firm announced.

Bob Baltera Named CEO of Laguna Pharmaceuticals

La Jolla-based Laguna Pharmaceuticals, previously known as ChanRx, announced Tuesday the appointment of Bob Baltera as chief executive officer and the completion of a $30 million Series B financing.

FAA Releases Proposed Rules for Use of Small Drones

Businesses might not deliver packages or pizzas by drone quite yet, but the Federal Aviation Administration is taking a step toward the commercial use of small unmanned aircraft.