San Diego Business Journal

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Planning Commission Forwards One Paseo Project With Revisions

PROPERTY: Changes Aim to Address Concerns Over Traffic, Congestion

The San Diego Planning Commission has forwarded to City Council a controversial $650 million mixed-use development, called One Paseo, proposed for Carmel Valley.

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Hilton Plans Downtown Tower as Part of New Upscale Brand

property: San Diego Is One of 11 Locations Selected for Debut

Virginia-based Hilton Worldwide has a large new tower-style hotel planned for East Village, as part of a national rollout of a new upscale brand called Canopy by Hilton.

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Planning Commission Recommends Changes and Forwards One Paseo Project to City Council

The San Diego Planning Commission has forwarded to City Council a controversial $650 million mixed-use development, called One Paseo, proposed for Carmel Valley.

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Otay Mesa Industrial Building Sold for $5 Million

Dallas-based TriGate Capital LLC and Lotus Real Estate Partners of Irvine have purchased an Otay Mesa industrial property for approximately $5 million, according to a statement from the buyers.

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Chipotle Mexican Grill Opens Its First Military Location at MCAS Miramar

Denver-based Chipotle Mexican Grill has opened its first military base restaurant at Marine Corps Air Station Miramar in San Diego.

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Pace of Construction Projects Slows as MCI West Winds Down

CONSTRUCTION: Shift Toward Pacific Region Strategy Brought Work

Military base construction projects remain a potent economic driver in San Diego County, but not with the same impact seen in the 2007-2012 period when the Defense Department completed $4 billion in enhancements to local installations, according to the San Diego Military Advisory Council.

Pendry Joins the List of Luxury Downtown Hotel Projects

Two more high-profile, hospitality-related projects recently broke ground in San Diego’s downtown area, giving continued heft to its status as the region’s prime hot spot for new development.

Surf Air Expands To Carlsbad

Surf Air, a private-membership airline using small aircraft, plans to begin service to McClellan-Palomar Airport in Carlsbad on Nov. 18.

Signatures on Wage Referendum Validated

WORKFORCE: City Council Can Act or Measure Goes to Ballot

Registrar of Voters has validated signatures collected by opponents of a recently approved hike in San Diego’s minimum wage, meaning enforcement will be delayed until the issue is decided by voters.

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Housing Seen as Key for Border Region Growth

PROPERTY: Infrastructure Improvements Being Made

Pieces are slowly falling into place to turn the Otay Mesa region into a vibrant future hub of cross-border business activity. And if one recent high-profile deal is an indicator, observers say the border-adjacent region could become more attractive to those investing in residential projects.

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Otay Mesa Industrial Property Purchased for $5 Million

Dallas-based TriGate Capital LLC and Lotus Real Estate Partners of Irvine have purchased an Otay Mesa industrial property for approximately $5 million, according to a statement from the buyers.

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Chipotle Opens First Military Location at MCAS Miramar

Denver-based Chipotle Mexican Grill has opened its first military base restaurant at Marine Corps Air Station Miramar in San Diego.

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Planning Commission Approves One Paseo Project with Requested Revisions

The San Diego Planning Commission has approved and forwarded to City Council a controversial $650 million mixed-use development, called One Paseo, proposed for Carmel Valley.

Registrar Validates Signatures for Potential Vote on Minimum Wage

Registrar of Voters has validated signatures collected by opponents of a recently approved hike in San Diego’s minimum wage, meaning enforcement will be delayed until the issue is decided by voters.

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Hilton Plans New Canopy Hotel in Downtown San Diego

Virginia-based Hilton Worldwide has a large new tower-style hotel planned for East Village, as part of a national rollout of a new upscale brand called Canopy by Hilton.

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New Tenants Join Lineup at Regency’s Balboa Mesa Center

Locally-based Chicken Charlie’s, long known for its deep-fried offerings at the San Diego County Fair and fairs in Los Angeles and Orange counties, is among 14 new tenants recently signed to leases at Balboa Mesa Shopping Center in San Diego’s Clairemont neighborhood, according to property owner Regency Centers.

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Spirit Airlines Plans New Local Nonstop Service to Denver

Florida-based discount carrier Spirit Airlines plans to offer new daily nonstop service from San Diego to Denver starting Jan. 5, 2015.

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Cisterra Expects June Completion for New Sempra Headquarters Tower

San Diego-based Cisterra Development is anticipating a June 2015 completion for the new headquarters building for Sempra Energy, currently under construction in downtown’s East Village neighborhood.

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Work Progressing on $43 Million Senior Care Facility in Chula Vista

Construction is progressing on a new $43 million retirement and care community in Chula Vista, being built by St. Paul’s Senior Homes & Services.

Lawsuit Filed Against Carlsbad Resort Over Poinsettia Fire

A lawsuit filed by property owners blames the Omni La Costa Resort & Spa in Carlsbad for starting the Poinsettia Fire, which destroyed several homes and businesses in May.

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Surf Air Expanding Private-Member Service to Carlsbad

Surf Air, a private-membership airline using small aircraft, plans to begin service to McClellan-Palomar Airport in Carlsbad on Nov. 18.

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BioMed Markets Developments Via New Mobile App

BioMed Realty Trust Inc. recently launched a new mobile application geared to informing tenants and brokers about potential development at its life science properties in San Diego and three other markets.

Dallas Firm Buys Carlsbad Retail Center for $31.6 Million

A Dallas-based firm has purchased the La Costa Town Center shopping center in Carlsbad for $31.6 million.

San Diego Ranks Fifth Among Meeting Destinations in American Express Meetings & EventsSurvey

San Diego ranks fifth among North America’s top destinations for meetings and events, according to the latest annual Global Meetings Forecast report by a division of financial services provider American Express.

Oceanside Auto Repair Building Sold for $6 Million

An Oceanside retail building housing a Midas auto repair shop has been sold for approximately $6 million, according to CoStar Group and public data.

Sustainable Fish Farm Planned Off San Diego Coast

San Diego-based Hubbs-SeaWorld Research Institute and private equity firm Cuna del Mar LP have filed permits to develop an environmentally sustainable, 5,000-metric-ton finfish farm off the San Diego coast.

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Partnership Purchases North Park Apartments for $18.47 Million

A partnership that includes Arc Capital Partners LLC of Los Angeles, Baltimore-based Alex. Brown Realty Inc. and New Standard Equities of Encino has purchased a 132-unit apartment property in San Diego’s North Park neighborhood.

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Kids Free San Diego Offers Opportunity to Explore County's Attractions

San Diego city and tourism officials recently announced the return of Kids Free San Diego, an annual promotion offering visitors and locals family-friendly discounts during the month of October.

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Retail’s Momentum Expected to Keep Pushing Vacancy Rate Down

PROPERTY: Barriers To Entry Are Keeping New Construction Sparse

Growing payrolls and a steady influx of tourists have brought full recovery to San Diego County’s retail industry, though the region is still about a year away from pre-recession sales highs reached at stores and restaurants, according to a recent third-quarter report by the brokerage company Marcus & Millichap Inc.

City of San Diego Finally Moves Many Permit Processes Online

DEVELOPMENT: Firms Say Belated Changes Will Save Time and Money

Facing a rising tide of new development projects heading through the pipeline, the City of San Diego has taken steps to streamline its processing of project permits and plans, moving a large portion of operations online.

Stone Investing $74M in Virginia Brewery, Eatery

Escondido-based Stone Brewing Co. plans to invest $74 million in a new East Coast brewing facility planned for Richmond, Va.

Council Reaches Linkage Fee Compromise

GOVERNMENT: Plan Would Phase in Increase Over 3 Years

San Diego City Council has approved language for a compromise on the controversial issue of commercial linkage fees, with a planned phased-in hike expected to finance more than $30 million in new affordable workforce housing over the next 20 years.

Sustainable Finfish Farm Planned Off San Diego Coast

San Diego-based Hubbs-SeaWorld Research Institute and private equity firm Cuna del Mar LP have filed permits to develop an environmentally sustainable, 5,000-metric-ton finfish farm off the San Diego coast.

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Tourism Leaders Launch Annual ‘Kids Free’ Discount Program

San Diego city and tourism officials recently announced the return of Kids Free San Diego, an annual promotion offering visitors and locals family-friendly discounts during the month of October.

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Partnership Buys North Park Apartments for $18.47 Million

A partnership that includes Arc Capital Partners LLC of Los Angeles, Baltimore-based Alex. Brown Realty Inc. and New Standard Equities of Encino has purchased a 132-unit apartment property in San Diego’s North Park neighborhood.

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Stone Brewing Investing $74 Million in New Virginia Operations

Escondido-based Stone Brewing Co. plans to invest $74 million in a new East Coast brewing facility planned for Richmond, Va.

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San Diego Ranks 24th Globally for Commercial Property Investment

San Diego ranks 24th among the world’s 25 largest markets for commercial property investment dollar volume, according to a report by brokerage company Cushman & Wakefield Inc.

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Chula Vista Retail Property Sells for $21.9 Million

New York-based RREEF Property Trust Inc. has purchased a Chula Vista property housing two big-box retailers for $21.9 million, according to CoStar Group and public data.

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Construction Starts on $100 Million Downtown Hotel

Encinitas-based developer The Robert Green Co. and Montage Hotels & Resorts of Laguna Beach have begun construction on Pendry San Diego, a new 317-room luxury hotel in downtown San Diego’s Gaslamp Quarter.

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Cohn Breaks Ground on $10 Million Restaurant at Harbor Island

Cohn Restaurant Group of San Diego has broken ground on a new restaurant at Harbor Island, with an expected development cost of at least $10 million and set for a spring 2015 opening.

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BBX Capital Acquires Candy Maker The Toffee Box of Carlsbad

BBX Sweet Holdings, a wholly owned subsidiary of Florida-based BBX Capital Corp., has acquired Carlsbad-based candy maker The Toffee Box LLC, for an undisclosed price.

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Miramar Office and Industrial Building Sells for $5 Million

Ingold Family Investments LLC of Fallbrook has purchased a Miramar office and industrial building for approximately $5 million, according to brokerage company Avison Young, which represented the seller.

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El Cajon Apartment Property Sold for $4.35 Million

A buyer recorded as Laurel Village Estates LP has purchased the 41-unit Laurel Village Apartments in El Cajon for $4.35 million, according to CoStar Group and public data.

San Diego City Council Approves Linkage Fee Hike Compromise

San Diego City Council has approved a compromise measure related to the controversial issue of raising linkage fees, charged to developers of commercial projects to finance development of affordable workforce housing.

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Carlsbad Industrial Building Sells for $13.75 Million

An entity recorded as DCT Rutherford LLC has purchased a Carlsbad industrial building for $13.75 million, according to CoStar Group and public data.

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Scripps Ranch R&D Property Sold for $3.7 Million

An entity listed as 9885 Carroll Canyon LLC has purchased a Scripps Ranch office and industrial building for $3.7 million, according to brokerage company Cushman & Wakefield Inc., which represented the seller.

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City Council to Consider New Compromise on Linkage Fees

San Diego City Councilmember Myrtle Cole has proposed a new compromise measure addressing the controversial issue of raising linkage fees paid by developers of commercial projects to support the construction of affordable workforce housing.

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HP Investors LLC Joins Makers Quarter Project in East Village

San Diego-based HP Investors LLC has joined the group of developers planning the mixed-use Makers Quarter project in East Village, buying out the interest of Portman Holdings for an undisclosed price.

Contracts for Future Construction Up 35%

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

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HP Investors Joins Makers Quarter Project in East Village

San Diego-based HP Investors LLC has joined the group of developers planning the mixed-use Makers Quarter project in East Village, buying out the interest of Portman Holdings for an undisclosed price.

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