San Diego Business Journal

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From Cuisine to Culture, Liberty Station Offers Local Flavors

A recent report by the consulting firm McKinsey & Co. noted that the gross leasable area devoted to food and beverage outlets in U.S. retail centers could rise to about 25 percent by 2020, compared with just 10 percent today.

By Lou Hirsh March 23, 2017 2:07 p.m. share »
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Coffee Company Acquisition Seems to Be More of a Blend Than a Takeover

S ome people conduct business over coffee. Chuck Patton and Jeff Taylor just engineered a mutual career switch that both coffeehouse owners say came at the right time in their lives.

By Lou Hirsh March 23, 2017 2:04 p.m. share »

SDSU Adds to Wave of Plans for Qualcomm Stadium Site

Just over two months after the San Diego Chargers said adios, the city is now facing a veritable flood of ideas for what to do with the 166-acre Mission Valley site of the aging Qualcomm Stadium.

By Lou Hirsh March 23, 2017 2 p.m. share »

What Are San Diego’s Retail Property Investment Prospects for 2017?

The city slipped out of the U.S. Top 10 for first time in several years.

By Lou Hirsh March 23, 2017 1:48 p.m. share »
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New San Marcos Fairfield Hotel Will Have Service Robot

A 116-room Fairfield Inn & Suites hotel is scheduled to open in San Marcos in the second half of April, with features including the region’s first in-house service robot. The $21 million development is the first ground-up hotel project for San Diego-based operator RAR Hospitality Inc.

By Lou Hirsh March 23, 2017 12:57 p.m. share »

SDSU Seeks to Acquire Land For Its Own Projects at Stadium Site

Presenting what is now the third alternative plan for Mission Valley since the departure of the San Diego Chargers, San Diego State University is seeking to acquire 47 acres at the city-owned site of Qualcomm Stadium to build its own stadium and other university facilities.

By Lou Hirsh March 22, 2017 12:49 p.m. share »
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Developer Completes $9.25M Remodeling at Chula Vista Retail Center

San Diego developer Brixton Capital has completed a $9.25 million remodeling at the Gateway Marketplace retail center in Chula Vista.

By Lou Hirsh March 22, 2017 10:53 a.m. share »

Here’s How San Diego Hotels Are Performing in 2017

So far, so good.

By Lou Hirsh March 21, 2017 5:10 p.m. share »
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Andaz San Diego Hotel Completes $4 Million Makeover

Operators of the Andaz San Diego hotel, in downtown’s Gaslamp Quarter, have completed a $4 million makeover of the property’s guest rooms and meeting spaces.

By Lou Hirsh March 21, 2017 11:20 a.m. share »
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Kearny Mesa Office Campus Owner Gets $34.3M in Financing

Property owner Klein Investment Family Limited Partnership has obtained $34.3 million in acquisition financing on a Kearny Mesa office campus, according to MetroGroup Realty Finance, which arranged the financing.

By Lou Hirsh March 20, 2017 2:15 p.m. share »
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Forbes Billionaire List Includes 5 With San Diego Ties

Five people with San Diego County ties made this year’s annual list of the world’s billionaires, published by Forbes magazine.

By Lou Hirsh March 20, 2017 12:53 p.m. share »

Airport Board Approves Construction of $229M Inspection Facility to Serve International Arrivals

San Diego International Airport officials have approved moving forward with plans to build a new $229.47 million federal inspection services facility in Terminal 2 West, slated to open in June 2018.

By Lou Hirsh March 19, 2017 1:07 p.m. share »
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Apartments in P.B. Sold for $2.59 Million

Calowa Investments LLC of Vermillion, S.D., has purchased a six-unit apartment property in San Diego’s Pacific Beach neighborhood for $2.59 million, according to brokerage firm Palma Commercial.

By Lou Hirsh March 19, 2017 12:59 p.m. share »

Airport Board Approves Construction of $229 Million Inspection Facility

San Diego International Airport officials have approved moving forward with plans to build a new $229.47 million federal inspection services facility in Terminal 2 West, slated to open in June 2018.

By Lou Hirsh March 17, 2017 4:17 p.m. share »
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Apartments in Pacific Beach Sold for $2.59 Million

Calowa Investments LLC of Vermillion, S.D., has purchased a six-unit apartment property in San Diego’s Pacific Beach neighborhood for $2.59 million, according to brokerage firm Palma Commercial.

By Lou Hirsh March 17, 2017 12:20 p.m. share »
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Commercial Real Estate | North County Developers Eye Del Mar for New Resort

Two Encinitas-headquartered development firms, each with a lot already on their project plates, are now teaming on plans for a 16-acre oceanfront luxury resort near Del Mar’s beloved “Dog Beach.” Tentative plans include branded resort villas, a public park, walking trails, restaurants and meeting spaces.

By Lou Hirsh March 16, 2017 2:57 p.m. share »
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Real Estate Co. Readies For Coming Wealth Transfer

Douglas Wilson, the founder and CEO of San Diego’s Douglas Wilson Cos., has spent most of his professional life closely tracking the big shifts in real estate and financial trends.

By Lou Hirsh March 16, 2017 2:26 p.m. share »

How Does San Diego Fare Among U.S. Office Investment Markets?

The region's standing was buoyed by steady growth in the demand for office space, combined with slowing construction and rising rents.

By Lou Hirsh March 15, 2017 3:22 p.m. share »

Gafcon Gets $22M School District Project in Santa Monica

San Diego’s Gafcon Inc. has been selected to provide construction management and other project-related oversight services for a $22 million district-wide improvement project by the Santa Monica-Malibu Unified School District.

By Lou Hirsh March 14, 2017 10:14 a.m. share »
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San Ysidro Industrial Property Sells for $5.77 Million

Spectex Holdings LLC of Phoenix has acquired a San Ysidro industrial property for approximately $5.77 million, according to CoStar Group and public data.

By Lou Hirsh March 13, 2017 3:58 p.m. share »

Developers Planning New Oceanfront Resort in Del Mar

Two Encinitas-headquartered development firms are in the process of acquiring 16 acres of prime oceanfront real estate in Del Mar for a proposed luxury resort.

By Lou Hirsh March 12, 2017 1:07 p.m. share »

Amazon Is Putting Together a S.D. Team for Strategic Initiative

Internet retail giant Amazon recently set up shop in Solana Beach as part of a “mission critical” strategic initiative that would involve a large expansion in the city.

By John Cox, Lou Hirsh March 12, 2017 1:05 p.m. share »
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Carlsbad Approves Mixed-Use Project Near I-5

The Carlsbad City Council recently approved plans for Carlsbad Village Lofts, a $30 million mixed-use residential project being developed near Interstate 5 by San Diego-based Gerber Group.

By Lou Hirsh March 12, 2017 1:01 p.m. share »
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Pacific Beach Apartments Sell for $3.25 Million

A South Dakota-based buyer recorded as Calowa Investments LLC has acquired an eight-unit apartment property in San Diego’s Pacific Beach neighborhood for approximately $3.25 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 12, 2017 12:59 p.m. share »
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Vista Industrial Building Sold for $3.07 Million

A Vista buyer recorded as Aspire NP JHM LLC has acquired an industrial building in that city for approximately $3.07 million, according to brokerage firm Lee & Associates.

By Lou Hirsh March 12, 2017 12:58 p.m. share »

Developers Are Planning New Oceanfront Resort in Del Mar

Two Encinitas-headquartered development firms are in the process of acquiring 16 acres of prime oceanfront real estate in Del Mar for a proposed luxury resort.

By Lou Hirsh March 10, 2017 3:52 p.m. share »
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Vista Industrial Building Is Sold for $3.07 Million

A Vista buyer recorded as Aspire NP JHM LLC has acquired an industrial building in that city for approximately $3.07 million, according to brokerage firm Lee & Associates.

By Lou Hirsh March 10, 2017 1:50 p.m. share »
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P.B. Apartments Sell for $3.25 Million

A South Dakota-based buyer recorded as Calowa Investments LLC has acquired an eight-unit apartment property in San Diego’s Pacific Beach neighborhood for approximately $3.25 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 10, 2017 1:40 p.m. share »

Amazon Putting Together a San Diego Team for Strategic Initiative

Internet retail giant Amazon recently set up shop in Solana Beach as part of a “mission critical” strategic initiative that would involve a large expansion in the city.

By John Cox, Lou Hirsh March 10, 2017 1:16 p.m. share »
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Carlsbad Approves a Mixed-Use Project Near I-5

The Carlsbad City Council recently approved plans for Carlsbad Village Lofts, a $30 million mixed-use residential project being developed near Interstate 5 by San Diego-based Gerber Group.

By Lou Hirsh March 10, 2017 12:31 p.m. share »
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EDC Study: SoccerCity Would Generate $2.8B Annual Regional Impact

The mixed-use SoccerCity SD proposed for Mission Valley would have a $2.8 billion annual regional economic impact and generate more than 25,000 jobs, according to an independent analysis done by consulting firm AECOM for the San Diego Regional Economic Development Corp.

By Lou Hirsh March 9, 2017 3:18 p.m. share »
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Residential Influx Is Among Factors Boosting Downtown Retail

With a few exceptions, downtown San Diego has hardly been a mecca for retailers over the past two decades.

By Lou Hirsh March 9, 2017 3:14 p.m. share »

Irrational or Realistic Exuberance?

In the 1990s, Alan Greenspan, at that time chair of the Federal Reserve, looked at the markets and made a famous observation about “irrational exuberance,” while still letting events run their course with minimal interference from the Fed.

By Lou Hirsh March 9, 2017 2:19 p.m. share »
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Brewing Co. Expects Bike Path to Drive Business to New Location

The commercial roster is falling into place for the $6 million, mixed-use Bikeway Village development nearing completion in Imperial Beach. And one of those incoming new tenants, Coronado Brewing Co., now has the opportunity to become even more comfortable in a South Bay market where it has been the dominant craft beer maker for two decades.

By Lou Hirsh March 9, 2017 2:04 p.m. share »
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Bankers Hill Apartment Property Sells for $2.85 Million

Barthell Family Trust of Los Angeles has acquired an 18-unit apartment property in San Diego’s Bankers Hill neighborhood for $2.85 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 9, 2017 1:22 p.m. share »
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Bird Rock Coffee Roasters Acquired by Kansas Company

San Diego’s Bird Rock Coffee Roasters has been acquired by Topeka, Kansas-based PT’s Coffee Roasting Co., for an undisclosed price.

By Lou Hirsh March 9, 2017 1:14 p.m. share »
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Apartment Conversion Planned After $5.63M Purchase of El Cajon Motel

A San Francisco buyer recorded as Macphersonite 1031 LLC has purchased the 75-room Ha’ Penny Inn motel in El Cajon for $5.63 million, with plans to convert it into apartments, according to brokerage firm Colliers International Group Inc.

By Lou Hirsh March 8, 2017 5:01 p.m. share »
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Coronado Retail Properties Sold for $22 Million

Kleege Enterprises of San Diego has acquired a portfolio of several retail properties in the center of Coronado for approximately $22 million, according to brokerage firm CBRE Group Inc.

By Lou Hirsh March 8, 2017 4:56 p.m. share »
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Hirshman Leaving SDSU President Post in June

San Diego State University announced March 8 that President Elliot Hirshman is leaving the university to become president of Stevenson University in Maryland. Hirshman has been SDSU’s president since 2011 and will leave the post on June 30.

By Lou Hirsh March 8, 2017 3:17 p.m. share »
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Developer Progressing on Redevelopment of Former Union-Tribune Campus

San Diego developer The Casey Brown Co. is nearing completion on the first phase of a $35 million redevelopment of the former Mission Valley home of The San Diego Union-Tribune.

By Lou Hirsh March 7, 2017 3:45 p.m. share »
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Green Co., Montage Teaming on $360M La Quinta Resort

Encinitas-headquartered The Robert Green Co. will team with Montage International on the developers’ second Pendry-branded hospitality property, to be built in the desert city of La Quinta as part of a larger $360 million resort. The two companies recently opened the $120 million Pendry San Diego hotel in downtown’s Gaslamp Quarter.

By Lou Hirsh March 7, 2017 1:16 p.m. share »
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Furnishings Retailer Room & Board Opening at Westfield UTC

Home furnishings retailer Room & Board plans a late summer 2017 opening for a new 17,000-square-foot store at San Diego’s Westfield UTC mall, according to brokers at NAI Capital and Retail Insite.

By Lou Hirsh March 7, 2017 1:08 p.m. share »
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Developer’s Local Office Obtains Financing for Anaheim Apartments

The San Diego-based western regional office of developer JPI has closed on $128 million in construction financing for the first phase of Jefferson Stadium Park, a luxury apartment community in Anaheim.

By Lou Hirsh March 6, 2017 11:55 a.m. share »
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Carlsbad Office Building Sells for $2.96 Million

Investor Kathleen Lathrum of San Diego has acquired a Carlsbad office building for approximately $2.96 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 6, 2017 11:27 a.m. share »
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Little Italy Apartment Property Sells for $8.57 Million

Rosemont LLC of San Diego has acquired a 24-unit luxury apartment community in downtown’s Little Italy for approximately $8.57 million, according to brokerage firm Berkadia.

By Lou Hirsh March 5, 2017 1:02 p.m. share »
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Hillcrest Mixed-Use Building Sells for $2.2 Million

Investor Tim Foley of San Diego has acquired a mixed-use commercial property in Hillcrest for $2.2 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 5, 2017 1 p.m. share »
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Mixed-Use Building in Hillcrest Sells for $2.2 Million

Investor Tim Foley of San Diego has acquired a mixed-use commercial property in Hillcrest for $2.2 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 3, 2017 12:11 p.m. share »
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Little Italy Apartment Property Sells for $8.57M

Rosemont LLC of San Diego has acquired a 24-unit luxury apartment community in downtown’s Little Italy for approximately $8.57 million, according to brokerage firm Berkadia.

By Lou Hirsh March 3, 2017 11:49 a.m. share »

Who Do You Believe? Experts Trade Dueling Economic Outlooks

It was a classic case of dueling expectations.

By Lou Hirsh March 2, 2017 4:59 p.m. share »

Walmart Opening New Store in Chula Vista

Walmart Stores Inc. plans an early summer 2017 debut for a new Chula Vista store, slated to open at 875 East H St. It will be the Arkansas-based retailer’s fourth Walmart store in Chula Vista.

By Lou Hirsh March 2, 2017 3:43 p.m. share »

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