San Diego Business Journal

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Blackstone Buys Oceanside Commercial Properties for $13.5 Million

An affiliate of New York-based Blackstone Group LP has purchased 16 buildings and land parcels at Pacific Coast Business Park in Oceanside for approximately $13.5 million, according to CoStar Group and public data.

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Kearny Mesa Industrial Building Sells for $4.85 Million

Locally based Thomas M. Murray Trust has acquired a Kearny Mesa industrial building for $4.85 million, according to brokerage company Marcus & Millichap.

Revenue, Net Income Rise at Realty Income

Realty Income Corp. saw total revenue rise 6.5 percent from a year ago in its fourth quarter ending Dec. 31, reaching $263.7 million, as net income available to common stockholders increased 7.2 percent, to $76.2 million.

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San Diego Retail Center Sells for $7.67 Million

McClurken Inc. of Spring Valley has acquired a three-building retail center in southern San Diego for approximately $7.67 million, according to CoStar Group and public data.

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San Diego Company Tapped to Manage Two Carlsbad Hotels

San Diego-headquartered RAR Hospitality has assumed management of the Holiday Inn Carlsbad and Staybridge Suites Carlsbad, following an agreement with the hotels’ owner, Alps Group of Hotels.

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Chargers Appoint Maas as Advisor on Stadium Funding Initiative

The San Diego Chargers have appointed Fred Maas, the former chairman of San Diego’s Centre City Development Corp., to advise team owner and Chairman Dean Spanos on an upcoming citizens’ initiative to approve funding for a new football stadium.

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Escondido Office Building, Land Parcel Sold for $7 Million

An affiliate of Escondido-based James Crone & Associates Inc. has acquired office and land properties in that city for a total of approximately $7 million, according to CoStar Group and public data.

Partnership Buys Oceanside Residential Land for $12.6 Million

A partnership that includes New York-based JEN Partners LLC has acquired 35.5 acres of residential land in Oceanside for approximately $12.6 million, with plans to develop 352 homes, according to CoStar Group and public data.

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Local Firm Purchases Scripps Ranch Office Property for $19.75 Million

San Diego-based Cypress Office Properties LLC has purchased the Willow Creek Corporate Center office building in Scripps Ranch for $19.75 million, according to brokerage company JLL.

Two La Jolla Buildings Part of $86.6 Million Portfolio Deal

Two La Jolla properties are among 13 retail and office buildings acquired in a multistate, $86.6 million portfolio deal by an affiliate of New York- based Lone Star Americas Acquisitions LLC, according to CoStar Group and public data.

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CH Projects to Open New Steakhouse in Little Italy

San Diego-based hospitality venue operator CH Projects plans to open a new Little Italy steakhouse called Born & Raised in late summer of 2016. The venue will debut at 1909 India St. after a $2.5 million renovation of the building that is currently underway.

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Two La Jolla Buildings Are Part of $86.6 Million Portfolio Deal

Two La Jolla properties are among 13 retail and office buildings acquired in a multistate, $86.6 million portfolio deal by an affiliate of New York- based Lone Star Americas Acquisitions LLC, according to CoStar Group and public data.

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CH Projects Opening New Steakhouse in Little Italy

San Diego-based hospitality venue operator CH Projects plans to open a new Little Italy steakhouse called Born & Raised in late summer of 2016. The venue will debut at 1909 India St. after a $2.5 million renovation of the building that is currently underway.

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Local Firm Buys Scripps Ranch Office Property for $19.75 Million

San Diego-based Cypress Office Properties LLC has purchased the Willow Creek Corporate Center office building in Scripps Ranch for $19.75 million, according to brokerage company JLL.

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July Opening Planned for Tony Gwynn Museum in Miramar

Operators plan a July opening for a new museum now under construction in Miramar, honoring the late San Diego Padres Hall-of-Famer Tony Gwynn.

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Croce’s Closes on a Sad Note for Viability of Live Music Venues

“Never say never,” Ingrid Croce said during a recent phone call when asked if she envisioned opening any more dining or music venues a few days after closing her Croce’s Park West in Bankers Hill.

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Agriculture Incentive Zone Could Be Sprouting in S.D.

PROPERTY: Tax Breaks Used to Provide Plots For Growing Produce

The city of San Diego is considering new property tax incentives designed to get fresh produce onto tables in neighborhoods underserved by grocery stores, farmers markets and other sources of healthful foods.

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Unified Effort Needed For a New Stadium

DEVELOPMENT: Leaders in Various Sectors Must Step Up

San Diego Chargers owner Dean Spanos recently announced his willingness to stay in town for at least 2016 and return to negotiations on a new local stadium, deemed by some as a key break in a months-long impasse between the team and government leaders.

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Co. Tests the Waters With Brewery Igniter

PROPERTY: H.G. Fenton Plans Additional Facilities

Thanks to the newly opened microbrewer’s unusual space arrangements in Miramar, co-founder Mat Robar estimates that his eco-themed Pure Project has saved a lot of green in startup costs — at least $100,000 — and shaved six to 12 months off the traditional launch timetable for a craft beer maker.

Amazon Adds Beer and Wine to Local Delivery Offerings

Amazon Inc. has extended its Prime Now services in San Diego to include one-hour delivery of beer, wine and spirits, the Seattle-based company announced.

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Teledyne Instruments Signs $22 Million Lease for Scripps Ranch Expansion

Teledyne Instruments Inc., which makes measurement and monitoring devices used in manufacturing, has signed a 10-year lease valued at more than $22 million for two buildings in Scripps Ranch, according to brokerage company CBRE Group Inc.

Lilac Hills Project Could Go Before Voters in November

North County supporters have filed paperwork with the county for an initiative petition drive, with the aim of placing the proposed 1,700-home Lilac Hills Ranch development on the November 2016 ballot.

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Reading Cinemas Closes Gaslamp Quarter Location

Reading Cinemas has closed its 15-screen movie theater in the Gaslamp Quarter, after eight years in operation at 701 Fifth Ave.

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Multifamily Property in University Heights Sold for $3 Million

Locally based Carlone Family Trust has acquired a seven-unit multifamily property in University Heights for $3 million in an off-market transaction, according to brokerage company Colliers International.

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Point Loma Apartment Property Sells for $3.4 Million

San Diego-based MCFT Holdings LLC has purchased a 17-unit Point Loma apartment property for $3.4 million, according to brokerage company South Coast Commercial Inc.

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Local Company Buys Marriott in Carmel Valley for $80.5 Million

San Diego-based Southwest Value Partners has acquired the 284-room Marriott San Diego Del Mar hotel in Carmel Valley for $80.5 million, according to the buyer.

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Construction Management Firm Cumming Acquires London Company

Cumming Corp., a San Diego-headquartered construction project management firm with offices worldwide, announced Feb. 1 that it is acquiring and merging with London-based consulting firm GB Fitzsimon. Financial details were not disclosed.

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Service Station in Bonsall Sold for $7.55 Million

An affiliate of San Antonio, Texas-based Tesoro Corp. has purchased an Arco AM-PM service station in Bonsall for $7.55 million, according to CoStar Group and public data.

Former Target in Chula Vista Being Converted into Multi-tenant Site

San Diego-based property owner Brixton Capital is in the midst of a renovation, expected to cost approximately $10 million, to convert a former Target store in Chula Vista into a multi-tenant retail building, according to general contractor Dempsey Construction.

Chargers to Play in San Diego for 2016; More Stadium Negotiations Planned

The San Diego Chargers will remain in San Diego for the 2016 season, team owner and Chairman Dean Spanos announced Jan. 29.

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San Diego County’s Construction Starts Declined 25% in 2015

San Diego County finished 2015 with construction starts valued at approximately $3.12 billion, down 25 percent from 2014, according to the latest numbers from research firm Dodge Data & Analytics.

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Fitbit Leases Office Space at Carmel Mountain Ranch

Fitbit Inc., which makes popular wearable fitness data trackers, has leased 16,760 square feet of office space in Carmel Mountain Ranch, according to CoStar Group. San Francisco-based Fitbit announced last year that it was recruiting employees and scouting locations for a San Diego regional office.

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Developer Gets $65 Million in Refinancing for San Diego Retail Center

San Diego-based developer Coast Income Properties has obtained $65 million in refinancing for its Village at Pacific Highlands Ranch retail center near Carmel Valley, according to brokerage company CBRE Group Inc., which arranged the loan.

Chargers to Play in S.D. for 2016; More Negotiations Planned

The San Diego Chargers will remain in San Diego for the 2016 season, team owner and Chairman Dean Spanos announced Jan. 29.

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Fitbit Inc. Leases Office Space at Carmel Mountain Ranch

Fitbit Inc., which makes popular wearable fitness data trackers, has leased 16,760 square feet of office space in Carmel Mountain Ranch, according to CoStar Group. San Francisco-based Fitbit announced last year that it was recruiting employees and scouting locations for a San Diego regional office.

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County’s Construction Starts Declined 25 Percent in 2015

San Diego County finished 2015 with construction starts valued at approximately $3.12 billion, down 25 percent from 2014, according to the latest numbers from research firm Dodge Data & Analytics.

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Developer Gets $65M in Refinancing for San Diego Retail Center

San Diego-based developer Coast Income Properties has obtained $65 million in refinancing for its Village at Pacific Highlands Ranch retail center near Carmel Valley, according to brokerage company CBRE Group Inc., which arranged the loan.

Court Decision Impacts Housing Development

LEGAL: More Stringent Reporting of Emissions Could Be Big Challenge

Development and legal experts say a recent California Supreme Court ruling on a major Los Angeles-area housing development mandating more stringent reporting related to greenhouse gas emissions could have far-reaching effects for larger projects in San Diego County and elsewhere in the state.

Pure Project Debuting at H.G. Fenton’s First Brewery Incubator

Local beer microbrewer Pure Project plans a Jan. 30 opening, as the first tenant to debut at property owner H.G. Fenton Co.’s Brewery Igniter incubator facility in Miramar.

Survey: Optimism Remains Strong for Commercial Real Estate Demand

Developers remain confident that demand for California and San Diego County commercial real estate will remain strong through 2018, spurring opportunities for new construction and investment, according to the latest twice-yearly survey by the law firm Allen Matkins and UCLA Anderson Forecast.

Oceanside Townhomes Planned after $2.25 Million Land Buy

San Diego-based KD Development Inc. has acquired an Oceanside land parcel for $2.25 million, with plans to develop multi-level, for-sale townhomes, according to brokerage company Lee & Associates.

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Logan Heights Apartment Property Sold for $3 Million

Ekman Family Trust of San Diego has purchased an 18-unit apartment property in the city’s Logan Heights neighborhood for approximately $3 million, according to brokerage company Apartment Consultants Inc., also known as ACI.

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Lodge at Torrey Pines Plans $2.5 Million Restaurant Renovation

Operators of The Lodge at Torrey Pines plan a $2.5 million renovation of the luxury resort’s casual restaurant The Grill, located adjacent to the city-owned Torrey Pines Golf Course.

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Work Begins on Bikeway Village Project in Imperial Beach

Developers and city officials have broken ground on Bikeway Village, a civic and commercial project in Imperial Beach catering to users of the nearby Bayshore Bikeway. City officials have said the initial development cost will be approximately $6 million.

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San Diego International Airport Tops 20 Million Passengers for 2015

San Diego International Airport in 2015 served more than 20 million passengers for the first time in its 88-year history, airport officials announced.

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Tourism Authority Launches $10 Million Spring-Summer Campaign

The San Diego Tourism Authority is launching a $10 million multimedia campaign for the spring and summer seasons, targeting several major cities in the U.S., United Kingdom and Canada.

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Douglas Wilson Cos. Opens New Office in Phoenix Market

San Diego-headquartered Douglas Wilson Cos., a provider of real estate services, has opened a new office in the Phoenix market, adding to existing regional offices in Las Vegas, San Francisco and Washington, D.C.

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HP Investors Buys Historic Property in the Gaslamp Quarter for $6.8 Million

HP Investors LLC of San Diego has purchased an historic Gaslamp Quarter retail and office property – originally built in 1887 as the Grand Pacific Hotel – for $6.8 million.

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Realty Income Corp. Raises Common Stock Dividend by 5 Percent

San Diego-based Realty Income Corp. recently announced that its board of directors has approved a 5 percent increase in the company’s common stock monthly cash dividend.

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Realty Income Raises Common Stock Dividend by 5 Percent

San Diego-based Realty Income Corp. recently announced that its board of directors has approved a 5 percent increase in the company’s common stock monthly cash dividend.

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