San Diego Business Journal

San Diego-Centric Artisan Market Planned for Liberty Station

If a local restaurateur’s plans come to fruition, the next big arrival at the ever-evolving Liberty Station, in San Diego’s Point Loma neighborhood, will be a 21,000-square-foot public market that will put dozens of artisans and food vendors under one roof at the former Naval Training Center.

Opponents of Wage Hike Turn in Petition

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

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Make Room for More In Mission Valley

PROPERTY: New Mixed-Use, Apartments Planned for Area

Two more projects were recently added to a growing list of developments in the works for San Diego’s already-busy Mission Valley neighborhood.

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Pop-Up Plaza Brings Input on Urban Use

PROPERTY: Carlsbad Tries To Revitalize Small Spaces

The leader of Urban Place Consulting Group likens it to the urban-planning version of what the software industry calls beta testing.

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Legacy Partners Planning $6.5 Million Upgrade of Sorrento Office Campus

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

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Murphy Development Purchases Scripps Ranch Land from Intel

San Diego-based Murphy Development Co. has purchased 30.9 acres of undeveloped land in the Scripps Ranch Business Park from Intel Corp., for an undisclosed price.

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Realty Income Conducting $250 Million Senior Note Offering

Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.

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Poway Medical Office Condos Sell for $6 Million

Aranguren Family Trust of Palos Verdes Estates has purchased five medical office condominium units in Poway for $6 million, according to CoStar Group and public data.

Minimum Wage Opponents Gather 56,000 Petition Signatures

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

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Lionstone Investments Acquires San Diego Tech Center

Houston-based Lionstone Investments, on behalf of an institutional client, has acquired the nine-building San Diego Tech Center office park in Sorrento Mesa for an undisclosed price.

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El Cajon Apartment Building Sells for $8.2 Million

Heritage Group Partners of Newport Beach has acquired The Heritage Apartments, a 56-unit apartment building in El Cajon, for $8.2 million, according to CoStar Group and public data.

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San Diego Firm Buys Lake Elsinore Retail Center for $33.5 Million

HELF Investments LP of San Diego has purchased Canyon Hills Marketplace, a retail center in Lake Elsinore, for $33.5 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

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Target Plans to Open Small-Format Store in South Park

Target Corp. plans to open a location of its new small-format TargetExpress in San Diego’s South Park neighborhood in July 2015.

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Douglas Wilson Cos. Acquires Spring Valley Development Land for $5.7 Million

San Diego-based Douglas Wilson Cos. has purchased 50 acres of land in Spring Valley for $5.7 million, with plans for development of residential and neighborhood-serving commercial components.

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Wal-Mart Hiring 85 for Poway Store Expansion

Wal-Mart Stores Inc. plans to hire 85 new workers as part of an expansion underway at its Poway Walmart location, set for completion this fall.

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Realty Income Officials Ring Closing Bell at NYSE

Leaders of Realty Income Corp. recently rang the closing bell of the New York Stock Exchange, marking the Escondido-based company’s 20th anniversary as a publicly traded company.

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Emmes Completes $10M Renovation of Downtown Tower

Emmes Realty Services recently completed a $10 million renovation of 1 Columbia Place, the 27-story downtown San Diego office tower that it purchased in 2012 for approximately $135 million.

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New Alpine Store is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine. It is the fifth location for the San Diego-based retailer.

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Emmes Completes $10 Million Renovation of Downtown Tower

Emmes Realty Services recently completed a $10 million renovation of 1 Columbia Place, the 27-story downtown San Diego office tower that it purchased in 2012 for approximately $135 million.

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Alpine Addition is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine.

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County Hotel Deal Pricing Puts It in Top Spot

TOURISM: Good Room Metrics Boost Prices of Properties

San Diego topped all other California counties for the value of hotel property sales deals completed in the first half of 2014, according to the latest data from Atlas Hospitality Group, and the local region will likely see increasing scrutiny from investors amid continuing improvement in the hospitality economy.

Downtown Project Pipeline Wide Open

PROPERTY: Residential Plans Are Coming to Life

Developers have submitted plans for a 19-story mixed-use project that would bring 320 apartment units to East Village, the latest of several developments planned or under construction in the recently bustling neighborhood of downtown San Diego.

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Rising Tourist Tide

TOURISM: Midway and Maritime Museum Draw Crowds to Their Ships

At a spot on the downtown waterfront, within sight of the exact place where Juan Rodriguez Cabrillo first sailed into what is now called San Diego Bay in 1542, workers are busily assembling a full-scale replica of the explorer’s Spanish galleon, known as the San Salvador.

Industrial Land in San Marcos Sells for $11 Million

A Los Angeles-based entity of homebuilder D.R. Horton has purchased approximately 8.3 acres of land in San Marcos for $11 million, according to CoStar Group and public data.

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Cemetery Building in San Diego Sells for $8.5 Million

Northstar Memorial Group of Houston has purchased a cemetery and mausoleum building at Greenwood Memorial cemetery in southeast San Diego for approximately $8.5 million, according to CoStar Group and public data.

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Chula Vista Apartment Property Sells for $9.5 Million

San Diego-based Cova Management Inc. has purchased the 62-unit Castle Park Garden Apartments in Chula Vista for $9.5 million, according to CoStar Group and public data

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AMC Theatres Completes Renovation at Chula Vista Location

Kansas-based AMC Theatres has completed an extensive renovation of its AMC Chula Vista 10 movie theater, located at 555 Broadway in Chula Vista.

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Carlsbad Office Property Housing Bank Sells for $7.2 Million

San Diego investor and developer Dan Floit has acquired a Carlsbad office building housing Bank of America for $7.2 million, according to brokerage company CBRE Group Inc.

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Long-vacant Pernicano’s Building Goes on the Market

The long-vacant Pernicano’s restaurant building, at 3840 Sixth Ave. in Hillcrest, is being placed up for sale.

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Carlsbad Office Building Sells for $15.25 Million

An entity listed as RREF II-CP Crossings JV LLC has purchased the Crossings Corporate Center office building in Carlsbad for $15.25 million, according to CoStar Group and public data.

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La Jolla Commercial Properties Sold for $6.17 Million

USA Properties Inc. of San Diego has purchased several retail buildings with adjacent land in La Jolla for approximately $6.17 million, according to brokerage company Cushman & Wakefield Inc.

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Gafcon Relocates Headquarters to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Diego Retail Center Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million, according to CoStar Group and public data.

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Carlsbad Commercial Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Gafcon Relocates Headquarters From Downtown to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Diego Retail Property Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million.

It Is a Lively Commercial Scene in and Around Downtown

If it seems like there’s been lots of churn lately in downtown San Diego’s commercial scene, there’s even more on the way in the Gaslamp Quarter and Little Italy.

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Downtown’s Residential Options Keep On Growing

REAL ESTATE: Area Delivers Urban Appeal To Young Millennials

Downtown San Diego currently has about 2,000 apartments and condominiums in various stages of planning and construction, and two newly proposed mixed-use projects are slated to add another 386 to that total.

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Planned Hotels Would Be Boost for Oceanside

TOURISM: City Will Get Much Needed Meeting Space

A $150 million resort development being planned in downtown Oceanside includes what would be that city’s first full-service hotel, as it seeks its share of a growing influx of North County coastal visitors and related economic benefits.

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Carlsbad Office Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Realty Income Names New Chief Operating Officer

Escondido-based Realty Income Corp. has appointed Sumit Roy to the post of chief operating officer, effective Oct. 1.

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DSW Opens Its Newest Local Shoe Store in Santee

Retailer DSW Inc. has opened the latest local location of its DSW Designer Shoe Warehouse at Santee Trolley Square.

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San Diego Apartment Building Sells for $3.95 Million

Investor Matthew Rattner has purchased the 29-unit Windsong Apartments, in San Diego’s Rolando/SDSU neighborhood, for $3.95 million, according to brokerage firm Apartment Consultants Inc. (ACI), which represented the buyer and seller.

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Hilton San Diego Del Mar Completes $15 Million Renovation

Operators of Hilton San Diego Del Mar recently completed a $15 million renovation of the 257-room property.

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Spring Valley Apartment Property Sells for $3.65 Million

Carv Properties LLC of Chula Vista has acquired the 28-unit Greenwood Villas Apartments in Spring Valley for $3.65 million, according to CoStar Group and public data

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Bottega Americano Opening in East Village at Law School Building

Operators planned an Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

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Escondido Apartment Complex Sells for $9.9M

Claus Family Trust of Del Mar has purchased Windsong Villas, a 67-unit apartment complex in Escondido, for $9.9 million, according to CoStar Group and public data.

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Harper Construction Finishes $2.67 Million Sheriff’s Substation

Harper Construction Co. of San Diego has completed a new $2.67 million San Diego County Sheriff’s substation, which opened recently at 28914 Old Highway 80 in Pine Valley.

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Bottega Americano Set to Open in East Village at Law School Building

Operators plan Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

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Drought-Resistant Landscaping Demand Is in Full Bloom

PROPERTY: Water Shortage Brings Changes In Attitudes, Regulations

New emergency water-use restrictions enacted by the state of California, aimed at reducing outdoor water consumption in urban areas, are bringing home conservation themes that local landscape architects have been preaching for years.

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