San Diego Business Journal

New Carrier Launching Direct Flights Between Carlsbad, Las Vegas

Locally based commercial carrier Cal Jet by Elite Airways plans a Sept. 28 launch of service between Carlsbad and Las Vegas.

By Lou Hirsh August 16, 2017 3:01 p.m. share »
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Westcore Enters Portland Investment Market with $38.7M Industrial Deal

San Diego-headquartered Westcore Properties has acquired an industrial park in Vancouver, Wash., for $38.7 million, marking the investment company’s entrance into the Portland, Ore., metro market.

By Lou Hirsh August 16, 2017 2:56 p.m. share »
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Emmes Renovating Lobby, Plaza at Downtown Tower

Property owner Emmes Realty Services of California LLC has begun a multimillion-dollar renovation of the Seventh Avenue plaza and atrium lobby at its office tower at 701 B St. in downtown San Diego.

By Lou Hirsh August 16, 2017 1:05 p.m. share »
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Green Flash Brewing Expands Production Into Nebraska

San Diego-based Green Flash Brewing Co. plans to expand into Nebraska, with a Lincoln production facility and tasting room set to open by the end of this year.

By Lou Hirsh August 16, 2017 10:50 a.m. share »
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Next Frontier for Amazon: Faster Delivery of Munchies

Amazon Inc. continues to grow its presence in San Diego County. And students at UC San Diego likely will be among the next beneficiaries of super-quick delivery of snacks, drinks and other college essentials, via another new offering from the e-commerce giant.

By Lou Hirsh August 15, 2017 12:54 p.m. share »
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Golf Legend Johnny Miller Signs On for Redesigns at Warner Springs Ranch

Operators of Warner Springs Ranch Resort have signed a deal with pro golf hall-of-famer and broadcaster Johnny Miller and his namesake course design firm for upcoming improvements to the North County property.

By Lou Hirsh August 14, 2017 4:59 p.m. share »

New Industrial Facility Planned After $4.68M Santee Land Buy

An entity listed as Cuyamaca West Partners LLC of El Cajon has acquired a 7.28-acre industrial land parcel in Santee for approximately $4.68 million, according to CoStar Group and public data.

By Lou Hirsh August 14, 2017 4:44 p.m. share »
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Construction Starts on New Medical Office Complex in Escondido

Construction has started on the first of what will be a three-building, privately financed medical office complex on the campus of Palomar Medical Center in Escondido.

By Lou Hirsh August 14, 2017 11:35 a.m. share »
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Construction Starting on Retail Center, Hotel at Millenia in Chula Vista

Developers have slated an Aug. 15 ground-breaking for the Millenia Commons retail center and a 135-room Ayres Hotel, being built at the Millenia mixed-use development in Chula Vista.

By Lou Hirsh August 13, 2017 1:05 p.m. share »

Operator of Rock ’n’ Roll Marathon Plans Local Job Cuts

Competitor Group Inc., which owns the popular Rock ’n’ Roll Marathon series of long-distance running events that started in San Diego in 1998, has informed the state that it plans to lay off up to 145 local workers effective Nov. 15, as its new parent company moves personnel to its global headquarters in Florida.

By Lou Hirsh August 13, 2017 1:05 p.m. share »
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Greystone Completes First Phase of $7 Million Renovation at Bristol Hotel

Operator Greystone Hotels has completed the first phase of a planned $7 million renovation at its downtown San Diego property, known as The Bristol San Diego.

By Lou Hirsh August 13, 2017 1:04 p.m. share »

Rock ’n’ Roll Marathon Operator Plans Local Job Cuts

Competitor Group Inc., which owns the popular Rock ’n’ Roll Marathon series of long-distance running events that started in San Diego in 1998, has informed the state that it plans to lay off up to 145 local workers effective Nov. 15, as its new parent company moves personnel to its global headquarters in Florida.

By Lou Hirsh August 11, 2017 4:04 p.m. share »
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Operator Completes First Phase of $7M Renovation at Bristol Hotel

Operator Greystone Hotels has completed the first phase of a planned $7 million renovation at its downtown San Diego property, known as The Bristol San Diego.

By Lou Hirsh August 11, 2017 12:56 p.m. share »
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Construction Starting on Retail Center, Hotel at Millenia

Developers have slated an Aug. 15 ground-breaking for the Millenia Commons retail center and a 135-room Ayres Hotel, being built at the Millenia mixed-use development in Chula Vista.

By Lou Hirsh August 11, 2017 12:11 p.m. share »
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Sorrento Mesa Office Building Sells for $16.3 Million

Rancho Santa Fe-based Premier Realty Holdings Inc. has acquired the Wateridge Pavilion office building in Sorrento Mesa for $16.3 million, according to brokerage firm CBRE Group Inc.

By Lou Hirsh August 10, 2017 4:01 p.m. share »

An Audubon Land Deal, Plus 2 Coming Business Arrivals

A local chapter of The Audubon Society, the prominent nature-preservation organization, has acquired approximately 31.2 acres of vacant land in Oceanside for $1.56 million, with plans to conserve it as an open space in perpetuity. Brokerage firm Lee & Associates said the land on Muirfield Drive and Rivertree Drive — near Camp Pendleton and Mission San Luis Rey — is currently unentitled.

By Lou Hirsh August 10, 2017 1:47 p.m. share »
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Medical Office Diagnosis: Good for Landlords

Landlord-friendly metrics in San Diego County’s medical office property market may help explain why two large East Coast investment firms recently decided to enter the East County market with a big $33 million acquisition in La Mesa.

By Lou Hirsh August 10, 2017 1:46 p.m. share »
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County Looking for Developer For Multiblock Downtown Site

With court operations now shifting into a sparkling new $555 million downtown facility, officials are open to ideas for what replaces the old, 1960s-vintage San Diego County Courthouse.

By Lou Hirsh August 10, 2017 1:45 p.m. share »
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KB Home Plans San Diego Townhomes After $9.73 Million Land Purchase

An affiliate of Los Angeles-based homebuilder KB Home has acquired a 3.47-acre land parcel in San Diego’s Pacific Highlands Ranch community for $9.73 million, with plans to develop 69 townhomes, according to brokerage firm Colliers International Group Inc.

By Lou Hirsh August 10, 2017 1:27 p.m. share »
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Coronado Apartments Sold for $4.9 Million

Hale Real Estate Partners LLC of San Diego has purchased a 12-unit apartment property in Coronado for approximately $4.9 million, according to brokerage firm South Coast Commercial Inc.

By Lou Hirsh August 10, 2017 1:24 p.m. share »

San Diego County Hotel Deal Volume Rose 70 Percent in First Half

San Diego County’s hotel property deal volume rose 70 percent from a year ago in the first half of 2017, as transaction dollar volume increased 54 percent, according to a mid-year report from brokerage and research firm Atlas Hospitality Group.

By Lou Hirsh August 10, 2017 1:21 p.m. share »
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DHS Clears Some Legal Hurdles to Border Wall With Waiver

If it ever gets started, the proposed border wall between the U.S. and Mexico won’t have to abide by environmental and other laws that would otherwise impact a construction project in San Diego County.

By Lou Hirsh August 10, 2017 1:02 p.m. share »
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Density Is a Big Divider For SDSU, SoccerCity

San Diego State University finally stepped from the sidelines and entered the field of play late last month with its bid to be the master developer of the Mission Valley site of Qualcomm Stadium.

By Lou Hirsh August 10, 2017 12:50 p.m. share »
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Chula Vista Industrial Park Sells for $18 Million

Los Angeles investors George Rollins and Frederick Rollins have acquired a Chula Vista industrial park for $18 million, according to CoStar Group and public data.

By Lou Hirsh August 9, 2017 1:27 p.m. share »
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Vista Office Property Sold for $9.85 Million

An affiliate of San Diego-based Coseo Properties Inc. has purchased a three-building Vista office property for $9.85 million, according to brokerage firm Cushman & Wakefield.

By Lou Hirsh August 9, 2017 1:20 p.m. share »
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Marketing, Engineering Firms Moving to Emmes’ Downtown Tower

Digital marketing agency iProspect and engineering consulting firm Syska Hennessy Group have signed leases to relocate their local operations to downtown San Diego’s 1 Columbia Place office tower, according to property owner Emmes Realty Services of California LLC.

By Lou Hirsh August 8, 2017 1:18 p.m. share »
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Temperature Rising for Region’s Medical Office Property Market

Medical office properties have become hot commodities in San Diego County this year, and the region now has its latest case in point.

By Lou Hirsh August 8, 2017 10:53 a.m. share »

SeaWorld Parent Reports Rough First Half Despite New Attraction Openings

Still struggling with attendance issues, the parent company of SeaWorld San Diego reported a slight gain from a year ago in revenue for its second quarter ending June 30, but posted a net loss for both the second quarter and first half of 2017.

By Lou Hirsh August 8, 2017 10:18 a.m. share »

San Diego Ranks Fourth Among Meeting Destinations in Annual Survey

San Diego ranks fourth among major North American markets as a destination for meetings, in an annual survey of meeting planners by research firm STR.

By Lou Hirsh August 7, 2017 11:10 a.m. share »
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Escondido Apartment Property Sold for $90 Million

Los Angeles-based TruAmerica Multifamily, in a joint venture with insurer Allstate Corp., has acquired a 519-unit Escondido apartment property for approximately $90 million, the buyers announced.

By Lou Hirsh August 7, 2017 10:33 a.m. share »

Airport Completes $291 Million Sale of Revenue Bonds

Operators of San Diego International Airport recently completed a sale of more than $291 million in revenue bonds, at an interest rate that is the lowest earned in the airport’s history, at 3.74 percent.

By Lou Hirsh August 6, 2017 1:04 p.m. share »

Escondido Industrial Land Parcels Sold for $11.5 Million

Pennsylvania-based Exeter Property Group has acquired two Escondido industrial land parcels totaling 10.9 acres for $11.5 million, with plans to build a distribution center project, according to CoStar Group and public data.

By Lou Hirsh August 6, 2017 1:02 p.m. share »
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Roofing Firm Buys Escondido Industrial Building for $2.2 Million

Locally based Sylvester Roofing has acquired an industrial building in Escondido for $2.2 million, exercising an option to purchase the property where it had previously been leasing space, according to brokerage firm Lee & Associates.

By Lou Hirsh August 6, 2017 1 p.m. share »
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Chelsea Begins Work on $26.7 Million Farmworker Housing Project

Carlsbad-headquartered developer Chelsea Investment Corp. recently broke ground on a $26.7 million, 80-unit complex of affordable farmworker apartments in the city of Coachella in Riverside County.

By Lou Hirsh August 6, 2017 12:59 p.m. share »
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Roofing Firm Buys Escondido Industrial Building for $2.2M

Locally based Sylvester Roofing has acquired an industrial building in Escondido for $2.2 million, exercising an option to purchase the property where it had previously been leasing space, according to brokerage firm Lee & Associates.

By Lou Hirsh August 4, 2017 11:19 a.m. share »
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Chelsea Begins Work on $26.7M Farmworker Housing Project

Carlsbad-headquartered developer Chelsea Investment Corp. recently broke ground on a $26.7 million, 80-unit complex of affordable farmworker apartments in the city of Coachella in Riverside County.

By Lou Hirsh August 4, 2017 10:57 a.m. share »

Airport Completes $291M Sale of Revenue Bonds

Operators of San Diego International Airport recently completed a sale of more than $291 million in revenue bonds, at an interest rate that is the lowest earned in the airport’s history, at 3.74 percent.

By Lou Hirsh August 4, 2017 10:32 a.m. share »
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Biotech Firm BioLegend Starts Construction on New $100M Campus

San Diego-based Biotech firm BioLegend Inc. has begun work on a new campus in Miramar, with an expected project cost of more than $100 million.

By Lou Hirsh August 3, 2017 4:40 p.m. share »
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Chula Vista Industrial Property Acquired for $13.4 Million

Encinitas-headquartered Stos Partners has acquired a two-building industrial property in Chula Vista for approximately $13.4 million, the company announced.

By Lou Hirsh August 3, 2017 4:09 p.m. share »

Airport Completes $291 Million Sale of Revenue Bonds

Operators of San Diego International Airport recently completed a sale of more than $291 million in revenue bonds, at an interest rate that is the lowest earned in the airport’s history, at 3.74 percent.

By Lou Hirsh August 3, 2017 3:52 p.m. share »
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S.D. Manages to Avoid Downbeat National Retail Trends

Various U.S. retailers in recent months have announced a total of 6,000 store closings either underway or in the works for 2017.

By Lou Hirsh August 3, 2017 2:29 p.m. share »
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Cerullo Center Chooses Special Over Spectacle

Before being sold on the site for his organization’s proposed development, a religious education campus with a hotel and other hospitality features, lead planner Jim Penner stopped by several adjacent locations along busy Interstate 8 in Mission Valley.

By Lou Hirsh August 3, 2017 12:47 p.m. share »

For Sale: (Temporary) Naming Rights at Qualcomm Stadium

It’s not clear how long it will actually be standing in Mission Valley, but the city is giving potential sponsors the chance to splash their name on the 50-year-old building now known as Qualcomm Stadium.

By Lou Hirsh August 2, 2017 5:18 p.m. share »

County Construction Starts Declined 8 Percent in 2017’s First Half

The overall value of San Diego County’s construction starts declined 8 percent from a year ago in the first half of 2017, despite a 14 percent increase in new residential projects, according to the latest monthly numbers from research firm Dodge Data & Analytics.

By Lou Hirsh August 2, 2017 12:48 p.m. share »
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Two Oceanside Industrial Properties Get New Owners

Two Oceanside industrial properties recently changed hands, including a multi-tenant property housing several automotive-related businesses that sold for approximately $3.8 million.

By Lou Hirsh August 2, 2017 12:45 p.m. share »

San Diego Hotels: Half-Time 2017 Performance Scorecard

So how did San Diego County hotels fare in the first half of 2017?

By Lou Hirsh August 1, 2017 2:49 p.m. share »
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Walmart Launching Online Grocery Pickup Service at 4 Local Stores

Walmart is launching a new online grocery pickup service at four San Diego County stores starting on Aug. 2, allowing shoppers to pick up items they’ve ordered in advance online or through the company’s mobile grocery app, the retailer announced.

By Lou Hirsh August 1, 2017 1:51 p.m. share »
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Pacific Beach Apartment Complex Sells for $4.65 Million

Silver Property Investments LLC of La Palma has acquired a 17-unit apartment complex in Pacific Beach for $4.65 million, according to brokerage firm Apartment Consultants Inc. (ACI)

By Lou Hirsh August 1, 2017 12:13 p.m. share »
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Sorrento Mesa Industrial Campus Sold for $20.1 Million

An affiliate of Miami Beach, Fla.-based Jewell Capital LLC has acquired a three-building industrial campus in Sorrento Mesa for $20.1 million, according to CoStar Group and public data.

By Lou Hirsh July 31, 2017 3:37 p.m. share »
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Construction Begins on $52M Industrial Project in Oceanside

Developer McDonald Property Group recently broke ground on a two-phase industrial complex within Pacific Coast Business Park in Oceanside. Company President Bruce McDonald said the estimated cost of the four-building project at full build-out is $52 million.

By Lou Hirsh July 31, 2017 3:22 p.m. share »

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