San Diego Business Journal

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Nine Local Apartment Properties Part of $4.1 Billion Multistate Acquisition

Essex Property Trust Inc. of Palo Alto has acquired 73 apartment properties in three states, including nine in San Diego and Chula Vista, for approximately $4.1 billion, according to CoStar Group and public data.

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Parallel Capital Buys Long Beach Office Tower for $101.7 Million

San Diego-based Parallel Capital Partners Inc. has purchased Shoreline Square, a 20-story office tower in Long Beach, for $101.7 million.

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Emmes Buys Two Downtown Office Towers for $154.9 Million

New York-based Emmes Asset Management Co. LLC has purchased two downtown San Diego office towers for a total of $154.9 million, according to brokerage company JLL, which represented the seller.

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Carlsbad Firm Buys Office, Retail Properties for $16.4 Million

Investment firm Capstone Advisors of Carlsbad has purchased a La Jolla office building and a retail center in San Diego’s Morena neighborhood, for a total of $16.4 million.

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Realty Income Stock Offering Raises $528.5 Million

Realty Income Corp. (NYSE: O) has closed on a public stock offering that raised approximately $528.5 million in net proceeds, after underwriters exercised options to purchase an additional 1.8 million shares, company officials said.

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Miramar Industrial Buildings Sold for $6.5 Million

PB Miramar Distributions LLC of Commerce has purchased a three-building industrial property in Miramar for $6.5 million, according to CoStar Group and public data.

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Downtown Office Building Sells for $5.3 million

Rossi-Kettner LLC of Long Beach has purchased a downtown office building for $5.3 million, according to CoStar Group and public data.

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Spring Valley Apartment Community Sold for $5.65 Million

Doug Wetton Properties Inc. of Newport Beach has acquired the 46-unit Kenora Terrace apartment community in Spring Valley for $5.65 million, according to real estate services provider HFF Inc., which represented the seller.

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Realty Income Stock Offering Is Expected to Raise $459.5 Million

Escondido-based Realty Income Corp. (NYSE: O) has commenced a public stock offering expected to bring net proceeds of approximately $459.5 million.

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Transit District Is Offering Coaster Service to Padres Games

North County Transit District will be offering its annual Coaster train services geared to those attending San Diego Padres home games during the 2014 season, starting March 30.

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Oceanside Retail Center Sold for $12.6M

Doerken Properties Inc. of Santa Monica has purchased the Flags on Mission Shopping Center in Oceanside for $12.6 million, according to brokerage company Lee & Associates, which represented the buyer and seller.

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Oceanside Retail Center Sells for $12.6 Million

Doerken Properties Inc. of Santa Monica has purchased the Flags on Mission Shopping Center in Oceanside for $12.6 million, according to brokerage company Lee & Associates, which represented the buyer and seller.

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Transit District Offering Coaster Service to Padres Games

North County Transit District will be offering its annual Coaster train services geared to those attending San Diego Padres home games during the 2014 season, starting March 30.

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Realty Income Stock Offering Expected to Raise $459.5 Million

Escondido-based Realty Income Corp. (NYSE: O) has commenced a public stock offering expected to bring net proceeds of approximately $459.5 million.

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More Capacity Just Part of Bigger Plan for AleSmith Expansion

BREWING: New Site In Miramar to Bring Opportunities and Jobs

Miramar’s profile as a key local craft beer hub is about to grow higher, as San Diego-based AleSmith Brewing Co. prepares to quintuple its operational footprint in that neighborhood.

Tourism Marketing Group’s Agenda Takes It Around Town, Globe

TOURISM: Efforts to Lure Far East Visitors Increasing

The region’s primary tourism promotion agency has a twofold strategy for the coming fiscal year: Go local and go global.

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Comeback on Course at Warner Springs Resort

PROPERTY: Renovation’s First Phase Brings Back Golfing

A $50 million overhaul undertaken last year by Pacific Hospitality Group Inc. will begin to bear fruit this summer, when the developer reopens the newly renovated golf course at the historic Warner Springs Ranch Resort.

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Tourism Officials Planning Local, Global Efforts to Boost Visitor Counts

The coming 2015 fiscal year will see tourism efforts focused on bolstering hotel stays in local markets outside of the core downtown area, as the region recovers from last year’s political disputes that slashed funding for promoting the San Diego region.

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San Diego Part of National Geographic Series on Smart Cities

San Diego is among 18 cities scheduled to be featured in a cable TV documentary series called “Smart World Cities,” airing over the next three years on the National Geographic Channel.

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Sorrento Valley Industrial Buildings Sold for $6.7 Million

CM Management Services Inc. of Del Mar has purchased a two-building industrial property in Sorrento Valley for approximately $6.7 million, according to CoStar Group and public data.

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Poway Industrial Building Sells for $11.5 Million

Sorrento West Properties Inc. of San Diego, a real estate holdings entity of General Atomics, has purchased a Poway industrial manufacturing building for $11.5 million, according to CoStar Group and public data.

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Commerce Department Reappoints Convention Center Leader to Advisory Board

U.S. Commerce Department Secretary Penny Pritzker has reappointed Carol Wallace, president and CEO of San Diego Convention Center Corp, to the department’s national Travel and Tourism Advisory Board.

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San Diego Firm Buys Pasadena Retail Property for $10.8 Million

Investment firm Paragon Real Estate Fund of San Diego has purchased the retail portion of Pasadena Collection, a mixed-use residential and commercial development in that city, for $10.8 million.

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County’s Future Construction Projects down 56% in First 2 Months of 2014

San Diego County’s contracts for future construction were down 56 percent in value from a year ago in the first two months of 2014, according to new data from McGraw Hill Construction.

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Parallel Capital Teams With Chicago-based Firm to Buy Local Office Campus for $72.5M

Investment company Parallel Capital Partners Inc. of San Diego has bought Wateridge Plaza, a three-building office campus in Sorrento Mesa, for $72.5 million.

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Phil’s BBQ Opening Second Petco Park Location

San Diego-based Phil’s BBQ is opening a second location at Petco Park, set to debut March 30 on opening day for the San Diego Padres.

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Carmel Mountain Ranch Office Building Sold for $7.75 Million

Lab-testing product and services provider Phamatech Inc. of San Diego, recorded as JT & TP Investment LLC, has purchased a Carmel Mountain Ranch office building for $7.75 million, according to CoStar Group and public data.

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Carmel Mountain Ranch Office Building sells for $7.75 Million

Lab-testing product and services provider Phamatech Inc. of San Diego, recorded as JT & TP Investment LLC, has purchased a Carmel Mountain Ranch office building for $7.75 million, according to CoStar Group and public data.

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Hotel Market Experts Look to East for Drivers of Local Growth

The still-growing Chinese economy has the potential to become a sizable force in hotel markets including San Diego County’s — as a driver of property investment as well as a source of visitors filling guest rooms.

Panel Approves Designs for Little Italy Plaza-Apartment Project

A committee of Civic San Diego, the city’s downtown project oversight agency, has approved preliminary designs for a new public plaza and mixed-use apartment development planned in Little Italy.

Irish Eyeing Karl Strauss Co. for Possible Belfast Brewery Site

MANUFACTURING: A Facility Could Play Role In Revitalizing Part of City

In a sign of San Diego’s rising global stature in the industry, locally based Karl Strauss Brewing Co. has been approached by officials in Belfast about possibly establishing a craft beer manufacturing facility in that Northern Ireland city.

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Stone Moving Ahead With Expansion Plans

BREWING: Co. Also Scouting Brewery Locations Out of State

Stone Brewing Co., already among the nation’s largest craft beer makers, is now looking east for its next expansions.

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AleSmith Brewing Signs $9.7 Million Lease for Planned Miramar Expansion

San Diego-based AleSmith Brewing Co. has signed a $9.7 million lease to occupy a 105,600-square-foot industrial building in Miramar, where it plans to quintuple the size of its current craft beer-making operations in that neighborhood.

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Fashion Valley Adding Four Retailers to Mall Lineup

Fashion Valley Mall in Mission Valley has four new clothing retailers arriving during 2014, starting with a scheduled March 28 opening of a 5,200-square-foot store by British fashion house AllSaints.

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BioMed Declares First Quarter Stock Dividend

San Diego-based BioMed Realty Trust Inc. (NYSE: BMR) has declared a first-quarter 2014 dividend of 25 cents per share of common stock, equivalent to $1 per share on an annualized basis.

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Blaze Plans New Pizza Restaurant in Encinitas

Pasadena-based Blaze Fast-Fire’d Pizza, a fast-casual build-your-own pizza restaurant, plans a second-quarter opening for its new eatery in Encinitas.

Panel Approves Designs for Little Italy Plaza-Apartment Project

A committee of Civic San Diego, the city’s downtown project oversight agency, has approved preliminary designs for a new public plaza and mixed-use apartment development planned in Little Italy.

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Escondido Retail Center Owners Get $5.7M in Refinancing

The owners of Home Depot Plaza, a 171,300-square-foot retail center in Escondido, have obtained $5.7 million in refinancing on the property.

Work to Begin on $24M Row-Home Development in Golden Hill

Developers plan to begin construction this month on a $24 million, 33-unit row-home project in San Diego’s Golden Hill neighborhood.

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Solana Beach Office Building Sells for $4.3 Million

Duvivier Construction of Encinitas has bought a Solana Beach office property known as the Financial Building for $4.3 million.

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SeaWorld Parent Company Reports Record Revenue as Attendance Drops 4.1%

SeaWorld Entertainment Inc. (NYSE: SEAS), the Orlando-based operator of SeaWorld San Diego, reported record revenue of more than $1.46 billion for 2013, up 3 percent from 2012, despite a nationwide year-over-year decline in visitors.

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Lakeside Apartment Complex Sells for $4.9 Million

Lomas Santa Fe Group of Solana Beach has purchased the 54-unit Magnolia Terrace Apartments in Lakeside for approximately $4.9 million, according to real estate services firm The Heritage Group, which represented the buyer.

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Lakeside Apartment Property Sells for $4.9 Million

Lomas Santa Fe Group of Solana Beach has purchased the 54-unit Magnolia Terrace Apartments in Lakeside for approximately $4.9 million, according to real estate services firm The Heritage Group, which represented the buyer.

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SeaWorld Parent Company Reports Record Revenue Despite U.S. Attendance Drop

SeaWorld Entertainment Inc. (NYSE: SEAS), the Orlando-based operator of SeaWorld San Diego, reported record revenue of more than $1.46 billion for 2013, up 3 percent from 2012, despite a nationwide year-over-year decline in visitors.

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Port Approvals Will Finally Get Ball Rolling at Lane Field

PROPERTY: Proposed Project Slated to Bring 400 Hotel Rooms By Early 2016

Developers are moving forward with a $130 million, 400-room hotel project on the former site of the Lane Field minor league ballpark in downtown San Diego, after nearly a decade of planning and discussion.

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The Wave of Change Reaches Anthony’s

DINING: Landmark Eatery Plans Upgrades, New Venue

The Port of San Diego is reviewing plans by the operators of Anthony’s Fish Grotto that call for $4 million in renovations, including a modern makeover of its fisherman’s wharf-themed exterior and interior.

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At 50, SeaWorld Sees New Challenges

TOURISM: Controversies, Celebration Share Spotlight

SeaWorld San Diego is looking to make a splash as it celebrates its 50th anniversary this month as one of the region’s most popular visitor attractions, while also contending with unwanted controversy related to its parent company’s handling of its star killer whale performers.

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Pyramid Power

PROPERTY: Co. Bets It Can Shape Up an Office Market in Miramar

The latest office acquisition of Alliance Diversified Holdings LLC is not hard to find on a stretch of Miramar Road long dominated by furniture stores and strip retail centers.

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Sudberry Properties Buys Scripps Ranch Buildings for $8 Million

San Diego-based Sudberry Properties Inc. has purchased two Scripps Ranch buildings for $8 million, on a site where it plans to build a shopping center, according to CoStar Group and public data.

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Walmart Neighborhood Market Opens El Cajon Store

Wal-Mart Stores Inc. plans a March 14 opening for its new Walmart Neighborhood Market store, at 300 N. 2nd St. in El Cajon.