San Diego Business Journal

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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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Douglas Wilson Cos. Opens New Arizona Office

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 Gaslamp Quarter Property for $6.8M

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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S.D. 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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Permanent 10,000-Seat Outdoor Venue for Symphony Proposed

After years of debates, lawsuits and postponements afflicting various waterfront projects in downtown San Diego — some of which are now being built — residents and government leaders may be ready for something a little more harmonious.

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Lack of Supply Drives Rents Up Across Entire Market

PROPERTY: Industrial Opportunities Limited To Suburban Submarkets

Fueled by steady job growth, San Diego County’s commercial real estate scene in 2015 saw a continuation of post-recession trends including dropping vacancy rates and rising rents.

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Former Downtown Rental Car Building Sold for $3 Million

Pacifica Cos. of San Diego has acquired a downtown building most recently occupied by Fox Rent A Car for $3 million, with plans to redevelop it as a self-storage facility, according to brokerage company ECP Commercial.

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Solid Ground

San Diego Market Somewhat Insulated From External Volatility

The start of 2016 had many kinds of investors reaching for the Pepto-Bismol, as the year began with a severe economic slowdown in China, a global plunge in oil prices, and widespread volatility in U.S. stock markets.

Emmes Adding Fitness Center at Downtown San Diego Tower

Property owner Emmes Realty Services LLC will have a new Crunch Fitness gym operating at its 701 B office tower later this year, following a $3.5 million renovation of the downtown San Diego building.

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El Cajon Apartment Property Sells for $2.2 Million

San Diego investors Erik and Kristyn Thompson have acquired the 16-unit Las Palmas Apartments in El Cajon for approximately $2.2 million, according to brokerage firms ACRE Investment Real Estate Services and ACI Apartments.

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Barons Market Opening New Store in Murrieta

San Diego-based Barons Market plans a Jan. 27 opening for its new store in Murrieta, which will be the small-format grocer’s third store in southern Riverside County and its sixth overall.

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Hotel Proposed at Former Site of Convention Center Expansion

REAL ESTATE: Project Requires Approval From Port, Coastal Commission

Local developers The Robert Green Co. and Fifth Avenue Landing LLC are proposing an 831-room, $270 million hotel, slated for the downtown waterfront site where an extensive expansion of San Diego Convention Center was previously proposed.

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Chargers Cloud Direction for Downtown

PROPERTY: Convention Center Decisions Still To Be Made If Team Leaves

A San Diego Chargers stadium and an expanded convention center have been seen as competing downtown priorities for the past half-decade, both struggling to gain mass support.

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Portland Firm Buys El Cajon Industrial Park for $29.8 Million

Harsch Investment Properties of Portland, Ore., recently purchased a six-building industrial park in El Cajon for approximately $29.8 million, according to the buyer and CoStar Group data.

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Carlsbad Apartment Property Sold for $3.24 Million

San Diego investor Jing Zeng has acquired the nine-unit Centella Apartments in Carlsbad for approximately $3.24 million, according to brokerage company Marcus & Millichap.

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Scripps Ranch Business Park Sells for $6.12 Million

Locally based Sunwood Ventures has purchased El Dorado Business Park in Scripps Ranch for approximately $6.12 million, according to brokerage company Cushman & Wakefield.

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Historic Bankers Hill Building to Become Affordable Senior Apartments

LISC San Diego, a community development support organization, has made a $5.8 million loan to Housing Development Partners (HDP), to finance acquisition and closing costs for a planned $16.4 million renovation of the historic New Palace Hotel apartment property in Bankers Hill.

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Rancho Bernardo Office Building Sold for $2.1 Million

Locally based WeMo Holdings LLC, which operates as Axis Medical Technologies, has purchased the Madera Plaza office building in Rancho Bernardo for $2.1 million, according to brokerage company Colliers International.

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San Diego Apartment Property Sold for $14 Million

A New York City buyer recorded as College Grove 6410 LLC has acquired a 45-unit apartment property in eastern San Diego for $14 million, according to CoStar Group and public data.

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Hotel Proposed at Site of Scuttled Convention Center Expansion

Local developers The Robert Green Co. and Fifth Avenue Landing LLC are proposing an 831-room, $270 million hotel, slated for the downtown waterfront site where an extensive expansion of San Diego Convention Center was previously proposed.

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Ignyta Inc. Is Relocating Its Headquarters to BioMed Realty Property at UTC

San Diego-based BioMed Realty Trust Inc. has fully leased two buildings at its recently acquired Axiom office property in University Towne Center to biotech firm Ignyta Inc., which will relocate its headquarters from Sorrento Valley by fall 2016.

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Westcore Properties Buys Phoenix Industrial Building for $10.2 Million

San Diego-headquartered Westcore Properties has purchased a Phoenix industrial building for $10.2 million, marking a return to that market after a short hiatus, the company announced.

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Hotel Proposed for Site of Scuttled Convention Center Expansion

Local developers The Robert Green Co. and Fifth Avenue Landing LLC are proposing an 831-room, $270 million hotel, slated for the downtown waterfront site where an extensive expansion of San Diego Convention Center was previously proposed.

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Ignyta Relocating HQ to BioMed Realty Property at UTC

San Diego-based BioMed Realty Trust Inc. has fully leased its recently acquired Axiom office property in University Towne Center to biotech firm Ignyta Inc., which will relocate its headquarters from Sorrento Valley.

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Westcore Properties Buys Industrial Building in Phoenix for $10.2 Million

San Diego-headquartered Westcore Properties has purchased a Phoenix industrial building for $10.2 million, marking a return to that market after a short hiatus, the company announced.

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National City Mixed-Use Complex Sells for $22 Million

A buyer listed as Haborview Partners LLC has acquired Harborview, an 81-unit, mixed-use apartment complex in National City for $22 million, according to brokerage company CBRE Group Inc.

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Mercado del Barrio Adds New Commercial Tenants

Mercado del Barrio, a mixed-use apartment and retail development in San Diego’s Barrio Logan neighborhood, recently added several new commercial tenants.

Marijuana Legalization Would Have Impact on Land Use

PROPERTY: Forum Examined Space Demands, Regulatory and Fiscal Effects

It’s by no means a sure thing that Californians will vote to follow the example of states like Colorado and Washington and legalize the sale of marijuana beyond medical uses.

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NFL Decision Gives Bolts Option to Stay

SPORT: Will ‘New Chapter’ Be Same Story or Fresh Start?

City and county officials say San Diego has the opportunity for a “fresh start” in its quest to keep the San Diego Chargers in town after NFL owners voted down the team’s proposed relocation to the Los Angeles suburb of Carson.

City Aims to Restart Talks as NFL Leaves Chargers’ Fate in Limbo

City and county officials said San Diego now has the opportunity for a “fresh start” in its quest to keep the San Diego Chargers in town after NFL owners voted down the team’s proposed relocation to the Los Angeles suburb of Carson.

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Carlsbad Office Building Sells for $11 Million

CM Management Services of Del Mar has purchased the Palomar Corporate Center office building in Carlsbad for $11 million, according to brokerage company Cushman & Wakefield.

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Airport Plans Jan. 20 Opening for New Rental Car Center

San Diego International Airport operators plan a Jan. 20 opening for the newly completed, $316 million consolidated rental car center, which will initially house the operations of 14 rental car brands in one facility.

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McMillin Realty Sold to Better Homes and Gardens Franchisee

Chula Vista-headquartered McMillin Realty, a South County-focused residential brokerage firm, has been sold for an undisclosed price to a Los Angeles franchisee of Better Homes and Gardens Real Estate.

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Imperial Beach Apartments Sold for $14.5 Million

Walz Properties of San Diego has acquired a portfolio of Imperial Beach apartment properties totaling 87 units for $14.5 million, according to brokerage company Marcus & Millichap.

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Commercial Real Estate Services Firm Opens San Diego Office

Main + Main Inc., a Santa Monica-based provider of commercial retail real estate services, has established a new branch office in San Diego, headed by Executive Director Mike Clark.

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Welk Resorts Opens New Fitness Center at Escondido Property

Locally based Welk Resorts has opened a new $2.6 million fitness center at its Escondido property, located at 8860 Lawrence Welk Drive.

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Gelson’s Opening First San Diego County Store in Del Mar

Encino-based Gelson’s Markets plans a Jan. 14 opening for its first San Diego County store, located at 2707 Via De La Valle in Del Mar.

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Cohu's Headquarters Building in Poway Sells for $34 Million

CT Realty of Aliso Viejo has purchased a Poway industrial building housing the headquarters of Cohu Inc. for approximately $34 million, according to brokerage company CBRE Group Inc.

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Laurie Coskey Elected to Chair Convention Center Corp. Executive Board

Rabbi Laurie Coskey has been elected to chair the board of directors of the San Diego Convention Center Corp.

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San Diego Firm Buys South Carolina Apartments for $10.1 Million

San Diego-based The Hampstead Cos. has acquired two apartment properties in Columbia, S.C., totaling 388 units for approximately $10.1 million.

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Vista Industrial Buildings Get New Owners

Two Vista industrial properties recently changed hands in separate deals, including Carlsbad-based First Driftwood Trust’s purchase of a 24,400-square-foot facility for $3.9 million.

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Coskey Elected to Chair Convention Center Corp. Executive Board

Rabbi Laurie Coskey has been elected to chair the board of directors of the San Diego Convention Center Corp.

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Industrial Buildings Get New Owners

Two Vista industrial properties recently changed hands in separate deals, including Carlsbad-based First Driftwood Trust’s purchase of a 24,400-square-foot facility for $3.9 million.

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