Lou Hirsh

Staff Reporter

Email: lhirsh@sdbj.com
Phone: 858-277-8904 Extension: 3107

Recent Stories

East County Retail Building Sold for $4.82 Million

Alpha Brothers LLC of Capitola has acquired a retail building in Rancho San Diego, recently leased to beverage retailer BevMo on a 10-year term, for approximately $4.82 million.

Strong Summer Boosts San Diego Hotel Metrics For 2017

The San Diego region’s hotels continued to demonstrate post-recession resilience in the first eight months of 2017.

X-Ray Machine Maker Buys San Marcos Industrial Property for $3.2M

San Marcos-based Creative Electron Inc., which makes X-ray machines, plans to occupy an industrial property there that it recently acquired for $3.2 million.

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Logistics Companies on the Move in Otay Mesa Submarket

PROPERTY: Trends in E-Commerce, Manufacutring Drive Down Vacancy Rate

When it comes to rising industrial space demand in San Diego’s Otay Mesa region, some of the biggest movers are logistics companies focused on moving things around for their corporate customers.

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Make Room for More Furniture

Bassett Home Furnishings is the latest furniture seller to spread its footprint in the San Diego market. According to broker Shirley Kanamu of Pacific Coast Commercial, who represented local licensee Furniture & Accessory Retail Group Inc., a 12,440-square-foot Bassett retail store is planned at La Jolla Village Square, 8657 Villa La Jolla Drive. CBRE Group Inc.’s Reg Kobzi represented the center landlord in the $3.9 million lease deal.

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North County Roundup: Hotel Revamp, Retail Property Deals

San Diego’s RAR Hospitality, led by Robert Rauch, in coming months will be overseeing a $1 million “refresh” of Carlsbad by the Sea Resort, after recently obtaining the management contract for the 150-room independent, boutique-style hotel at 850 Palomar Airport Road. Rauch’s company owns or manages several hotels in Southern California, Arizona and Colorado.

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Kearny Mesa Redevelopment Could Open Door for More

San Diego has seen older office and industrial buildings “going under the knife” for cosmetic and competitive reasons for the past several years, especially in places like Sorrento Mesa, Sorrento Valley and University Towne Center.

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Mixed-Use Carlsbad Property Sells for $2.7 Million

An Encinitas buyer listed as 2659 State Partners LLC has acquired a multi-tenant office and retail property in the Carlsbad Village area for $2.7 million.

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San Diego Apartments Sold for $2.91 Million

San Diego buyers Nick Totah and Ronnie Insalaco have acquired a 17-unit apartment property in the City Heights submarket for $2.91 million.

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Imperial Beach Apartment Complex Sells for $6.72 Million

NEJ Properties LLC of La Jolla has purchased a 38-unit apartment complex in Imperial Beach for $6.72 million.

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Council Vote on Permits Delays Approval of Cerullo’s Legacy Center Project

San Diego City Council has voted down zoning and related permit approvals that would have cleared the way for development of the proposed $160 million Legacy International Center in Mission Valley.

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Chula Vista Apartments Sold for $6.15 Million

San Diego-based Mar Village II LLC has acquired a 35-unit apartment property in Chula Vista for $6.15 million.

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La Mesa Apartment Property Sells for $5.92 Million

Noel Family Trust of San Diego has purchased a 13-unit apartment property in La Mesa for approximately $5.92 million.

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San Diego Ranks Fourth for Summer Airbnb Stays

San Diego was the nation’s fourth-busiest city for short-term stays booked through Airbnb during the summer of 2017, the San Francisco-based company reported.

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Hard Rock Cafe Closing Downtown San Diego Location

Downtown’s Hard Rock Cafe San Diego will close at the end of 2017, though operators did not specify reasons for the shuttering of the Gaslamp Quarter restaurant.

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Irvine Co. Enters Del Mar Heights Office Market with Two-Building Purchase

Irvine Co. of Newport Beach has acquired the two-building Township 14 office property in Del Mar Heights, marking its first acquisition in that submarket of San Diego’s Carmel Valley.

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Retail Keeps Rolling Along

Retailer Target Corp. has set a Nov. 8 opening date for its previously announced new store in Oceanside, filling a renovated space that formerly housed a Kmart at 443 College Blvd near state Route 76. Target recently held local hiring fairs to fill an expected 160 job slots at the store, which will be the retailer’s 22nd in San Diego County.

A Home for Special Ops, More Homes in Little Italy

The Honor Foundation, a local nonprofit that provides transitional services for Navy SEALs and others in the U.S. military’s Special Operations community, recently broke ground on a new 8,000-square-foot headquarters facility in Sorrento Valley. The site at 11055 Roselle St. was donated by property owner Alexandria Real Estate Equities Inc., among the local region’s largest holders of life science and related properties.

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Amazon’s Entry Means Center Owners Need to Update Strategies

RETAIL: REITs Should Diversify Portfolios; Grocers Must Be Fast, Convenient

With Amazon Inc. making a major splash in grocery retail with its $13.7 billion acquisition of Whole Foods Market, shopping center owners including Retail Opportunity Investments Corp. (ROIC) are closely watching for the potential competitive ripple effects.

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Amazon Expanding Local Offices, But is There More in Store?

E-commerce giant Amazon Inc. really likes San Diego, recently adding to its already growing presence by leasing more than 100,000 square feet of office space at University Towne Center.

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Spec Office-Industrial Redevelopment is Underway in Kearny Mesa

Building owner LBA Realty of Irvine is redeveloping a Kearny Mesa property it acquired in December 2016 into a new speculative office and industrial campus, according to brokerage firm CBRE Group Inc.

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Amazon Expanding Local Offices, But Is More in Store?

E-commerce giant Amazon Inc. really likes San Diego, recently adding to its already growing presence by leasing more than 100,000 square feet of office space at University Towne Center.

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Spec Office-Industrial Redevelopment Underway in Kearny Mesa

Building owner LBA Realty of Irvine is redeveloping a Kearny Mesa property it acquired in December 2016 into a new speculative office and industrial campus, according to brokerage firm CBRE Group Inc.

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New CEO Carefully Picks Ingredients of Change

DINING: Eatery Reset to Combine Past Strengths With New Efforts

Announcing the arrival of the company’s newest CEO — the fourth to hold the post since 2011 — the current private-equity owners of Garden Fresh Restaurant Corp. described John H. Haywood as a veteran industry “turnaround specialist.”

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Beer Equipment Cos. Tap Into Craft Growth

BREWING: From Tanks to T-Shirts, Sector Is Thriving

Without brewing a drop of beer themselves, several San Diego County companies — such as dispensing-systems provider TapCraft and temperature-gauging tech maker Reotemp Instruments Corp. — are enjoying the spillover benefits of the region’s still-burgeoning craft brewing industry.

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Retailer Pirch Closing 6 of 10 Stores As It Restructures Operations

San Diego-based retailer Pirch, which sells upscale home furnishings and fixtures nationwide and had been growing rapidly during the past few years, has announced plans to close all of its stores outside of California as it restructures operations.

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W Hotel Transitioning to Hotel Republic, Adding 3 Dining Venues

The former W hotel in downtown San Diego has undergone its second rebranding since late 2015 and will soon be operating as Hotel Republic San Diego, with three new dining venues from locally based The Patio Group.

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Kearny Mesa Apartments Sold for $136.5 Million

Fort Worth, Texas-based Olympus Property, in a partnership with Artemis Real Estate Partners of Washington, D.C., has purchased the 360-unit Broadstone Corsair apartments in Kearny Mesa for $136 million, the buyers announced.

Cargo Services Provider Atlas Expanding Otay Mesa Operations

San Diego-based Atlas Freight Forwarding Inc. plans to expand its local operations, after leasing a nearly 100,000-square-foot industrial distribution suite in Otay Mesa.

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Westcore Buys Antioch Distribution Facility for $32.4 Million

San Diego-based Westcore Properties has acquired an industrial building in the Bay Area city of Antioch for $32.4 million, the company announced.

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Barons Market Relocates Headquarters to Poway

San Diego-based grocer Barons Market has moved its headquarters to a new office and distribution center space, totaling approximately 50,000 square feet at 12420 Kirkham Court in Poway.

With Loss of Chargers, It Is Game Over for Mission Valley Tilted Kilt

As a new NFL season gets underway, the Chargers’ absence from San Diego has claimed its first apparent business casualty.

UTC Medical Office Campus Sold for $97M

A partnership that includes Virginia-based Anchor Health Properties and Washington, D.C.-based The Carlyle Group has acquired a two-building medical office campus in University Towne Center for $97 million, according to CoStar Group and public data.

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Carlsbad Mixed-Use Project Planned After $3.4 Million Property Purchase

San Clemente-based Rincon Homes has purchased a medical office property in Carlsbad for $3.4 million, with plans to redevelop the site into a retail and residential mixed-use community, according to brokerage firm Colliers International Group Inc.

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City Heights Apartments Sold for $2.14 Million

Investors Frank Gomez and Catalina Amuedo-Dorantes of San Diego have acquired a nine-unit apartment property in the City Heights neighborhood for $2.14 million, according to brokerage firm Apartment Advisors Inc.

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UTC Medical Office Campus Sold for $97 Million

A partnership that includes Virginia-based Anchor Health Properties and Washington, D.C.-based The Carlyle Group has acquired a two-building medical office campus in University Towne Center for $97 million, according to CoStar Group and public data.

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City Heights Apartments Sold for $2.14M

Investors Frank Gomez and Catalina Amuedo-Dorantes of San Diego have acquired a nine-unit apartment property in the City Heights neighborhood for $2.14 million, according to brokerage firm Apartment Advisors Inc.

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New Dining Venues, and Other Tenant Arrivals

Mall owner Rouse Properties recently announced three more upcoming new dining tenants for The Shoppes at Carlsbad, currently undergoing an extensive renovation. Joining the lineup will be San Diego’s Lucha Libre, set to open its third local gourmet taco shop; Santa Ana-based Neckter Juice Bar, opening its 10th local location; and Poke Hut, a new concept from the operators of Carlsbad’s Señor Grubby’s with a twist on the Hawaiian fish dish.

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Rental Demand Likely to Outpace Supply Well into 2020

The next 18 months will see at least 7,250 new apartments come on the market in San Diego County. Does that mean relief for renters, or cause for multifamily investors to alter their strategies in this still-tight market?

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S.D. Acquisition Puts Mynd in Target Rich Rental Market

PROPERTY: Management Platform Aiming for Sites Of 50, or less, Units

Responding to the rise of mobile apps in the realm of rental property management, Bay Area technology provider Mynd recently made its first expansion into Southern California by acquiring San Diego’s Pacific Shore Management for an undisclosed price.

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DiamondView Deal Caps Downtown Flurry

OFFICE: $207M Transaction Is Third Recent Tower Sale

It was considered a laggard submarket for several years, but rising demand for office space in downtown San Diego has made it a hothouse for some of this year’s biggest commercial property deals.

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Carlsbad Mixed-Use Project Planned After $3.4M Property Purchase

San Clemente-based Rincon Homes has purchased a medical office property in Carlsbad for $3.4 million, with plans to redevelop the site into a retail and residential mixed-use community, according to brokerage firm Colliers International Group Inc.

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Garden Fresh Restaurants Taps Haywood as New CEO

San Diego-headquartered Garden Fresh Restaurants Corp. has named John W. Haywood as its new CEO, tasked with boosting growth prospects for the struggling operator of Souplantation and Sweet Tomatoes.

DiamondView Tower in East Village Sold for $207 Million

San Francisco-based Divco West has acquired the DiamondView office tower in downtown San Diego’s East Village for $207 million, according to CoStar Group and public data.

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Food Services Delivering Increased Competition to San Diego Market

“Not going there.” That’s the consumer dining mantra that numerous companies are increasingly following, as they beef up their deliveries of groceries and restaurant meals to homes and offices in San Diego County.

Rancho Bernardo Retail Center Sells for $10.5 Million

San Diego-based New World Limited Partnership has acquired a Rancho Bernardo retail center for approximately $10.5 million, according to brokerage firm CBRE Group Inc.

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Westfield Begins Work on New Apartment Tower at UTC

Mall operator Westfield Corp. has broken ground on construction of a new 23-story, upscale residential tower on land adjacent to its mall at University Towne Center.

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Redevelopment Planned After Downtown Land Parcel Sells for $9.5 Million

A local buyer listed as San Marcos Investments Inc. has acquired a downtown San Diego land parcel, where a hotel is currently located, for $9.5 million, with plans to redevelop the property, according to brokerage firm Pacific Coast Commercial.

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Transportation Firm Sets Up New Headquarters in Sorrento Mesa

San Diego-based Global Resources Management Group, a provider of transportation-related consulting and other services, recently relocated its corporate headquarters to The Park, a property within the San Diego Tech Center office campus in Sorrento Mesa.

Modern Times Beer Plans Opening of Portland Facilities in 2018

San Diego’s Modern Times Beer will be expanding into Portland, Ore., in early 2018, as the Point Loma-based brewer continues to grow its operations footprint beyond San Diego County.

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