San Diego Business Journal

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Speculative Projects Are Heading North

BUILDING: The Improving Economy Spurs Industrial Growth

It’s not the start of any expected boom, but three North County cities are now witnessing what has been a nearly nonexistent sight in the region for the past six years: speculative construction of industrial projects.

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Riding The Wave

DINING: Rubio’s Efforts At Rebranding Part of Fast-Casual Competition

Leaders of Rubio’s Restaurants Inc. are taking steps to ensure that the look and feel of its eateries carry elements of the Carlsbad-based company’s DNA.

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Council to Discuss Compromise on Linkage Fee Hikes

San Diego City Councilmember Myrtle Cole has proposed a new compromise measure addressing the controversial issue of raising linkage fees paid by developers of commercial projects to support the construction of affordable workforce housing.

Mixed-Use Residential Project Planned for East Village

Alliance Realty Partners LLC has proposed a new mixed-use residential project with 269 dwelling units in downtown San Diego’s East Village neighborhood.

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San Diego Boosts Online Access to City Project, Contracting Data

The City of San Diego has overhauled processes for accessing information from its development services and purchasing and contracting department, providing for more online access.

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Organic Restaurant Café Gratitude Coming to Little Italy

Café Gratitude, which operates organic and vegan restaurants in the Los Angeles and San Francisco Bay areas, plans an early 2015 opening in downtown San Diego’s Little Italy.

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County Contracts for Future Construction Up 35 Percent Through August

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

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Century-Old Downtown Apartment Building Sells for $3.3 Million

A buying entity recorded as Matmo Ents Inc. has purchased a 104-year-old apartment building in downtown San Diego for $3.3 million, according to CoStar Group and public data.

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Otay Mesa Apartments Sold for $150 Million

Partnerships controlled by San Diego-based R&V Management Corp. have acquired the 644-unit Greenfield Village apartment community in Otay Mesa for $150 million, according to Cushman & Wakefield Inc.

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Excel Trust Buys Three Utah Retail Properties for $223 Million

San Diego-based Excel Trust Inc. has purchased a portfolio of three Utah retail centers for approximately $223 million, according to the parties and brokerage company involved.

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Developers Plan Pacific Highlands Apartments after $17.5 Million Land Deal

San Diego-based Wermers Properties and R&V Management Corp. have partnered to acquire 7.4 acres of land near Carmel Valley for $17.5 million, with plans to develop a new apartment community.

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Westcore Buys Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

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Belching Beaver to Turn a Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

Local Health Care Office Space Demand Remains Uncertain

PROPERTY: Climate Could Change as Sector Settles in With Reforms

An aging population and expanded insurance coverage are raising demand for health care services, but the exact demand picture for medical offices — in terms of size, format and location — still hasn’t come fully into focus in San Diego County.

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Plan Aims to Keep Conventions Coming to Town

TOURISM: Extra Efforts Needed as Expansion of Center Hits Roadblock

Facing recent declines in overall convention attendance and the likelihood that an expansion won’t happen anytime soon, local tourism officials have launched a five-year plan to fill San Diego Convention Center with large group gatherings.

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Wave of Development Hitting The Village

PROPERTY: Diverse Mix Of Projects Set for La Jolla

Property by property, La Jolla’s central Village area is being remade as several older buildings get new owners who are now making plans for upcoming townhomes, stores and restaurants, a performing arts center and a luxury movie theater.

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Belching Beaver Converting Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

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Westcore Purchases Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

Partnership Plans $26 Million Industrial Park Project in Oceanside

Developer McDonald Property Group of Newport Beach has joined in a partnership to develop a 15.8-acre, $26 million industrial project in Oceanside.

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Carlsbad Property Housing TaylorMade Headquarters Sells for $23.5 Million

Regent Properties of Los Angeles has purchased a two-building Carlsbad property that includes the headquarters building of golf equipment maker TaylorMade-adidas for approximately $23.5 million, according to brokerage company Cassidy Turley.

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Rubio’s Remodeling, Rebranding Some of its Restaurants

Carlsbad-based Rubio’s Restaurants Inc. plans a redesign of 60 of its California restaurants, with a rebranding of those locations under the name Rubio’s Coastal Grill.

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Jamul Retail Center Sells for $3.8 Million

Developer Dan Floit of Del Mar has purchased Plaza La Tienda, a two-building retail property in the East County community of Jamul, for $3.8 million, according to CoStar Group and public data.

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Grocery Outlet Plans Store Opening in Chula Vista

Discount retailer Grocery Outlet plans an Oct. 2 opening at 1340 3rd Ave. in Chula Vista. It will be the 10th San Diego County location for the Emeryville-based company, with more local stores in development.

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Blaze Pizza Plans Two Local Openings in October

Pasadena-based Blaze Fast-Fire’d Pizza, a fast-casual restaurant chain that makes custom-made pies baked in high-temperature ovens, plans two San Diego County openings in October, bringing its total to three locations in the region.

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REIT Buys Four San Diego Office Buildings for $21.8 Million

Bixby Land Co. of Irvine has purchased four San Diego office buildings, in deals totaling $21.8 million, with plans for more than $16 million in renovations.

North Park Land Sold for $7.7 Million

TR Hale LLC has purchased a 1.5-acre parcel of land in North Park for $7.7 million, with plans to develop an upscale, mixed-use apartment project, according to brokerage company Colliers International.

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Little Italy Apartments Sold for $102.5 Million

A Dallas buyer listed as Apartments at Little Italy LLC has purchased Broadstone Little Italy, a 203-unit apartment building in downtown San Diego, for $102.5 million, according to CoStar Group and public data.

Cassidy Turley Being Acquired by DTZ Affiliate

Washington, D.C.-based commercial real estate services provider Cassidy Turley, which has a San Diego office, has entered into an agreement to be acquired by an affiliate of DTZ Investment Holdings, for an undisclosed price.

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Carlsbad Retail Center Sells for $15 Million

A Phoenix-based partnership of Hannay Realty Advisors and MDC Realty Advisors USA has purchased the Palomar Place retail center in Carlsbad for $15 million, according to brokerage company JLL, which represented the seller.

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Legacy Partners Plans $6.5 Million Upgrade of Sorrento Mesa Office Campus

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

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Murphy Development Buys Scripps Ranch Land from Intel

San Diego-based Murphy Development Co. has purchased 30.9 acres of undeveloped land in the Scripps Ranch Business Park from Intel Corp., for an undisclosed price.

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Barons Market in Murrieta Will Be Company’s Sixth Location

Natural-foods grocer Barons Market plans a spring 2015 opening for a new store set to open in Murrieta, which will be the sixth location for the San Diego-based retailer.

San Diego-Centric Artisan Market Planned for Liberty Station

If a local restaurateur’s plans come to fruition, the next big arrival at the ever-evolving Liberty Station, in San Diego’s Point Loma neighborhood, will be a 21,000-square-foot public market that will put dozens of artisans and food vendors under one roof at the former Naval Training Center.

Opponents of Wage Hike Turn in Petition

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

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Make Room for More In Mission Valley

PROPERTY: New Mixed-Use, Apartments Planned for Area

Two more projects were recently added to a growing list of developments in the works for San Diego’s already-busy Mission Valley neighborhood.

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Pop-Up Plaza Brings Input on Urban Use

PROPERTY: Carlsbad Tries To Revitalize Small Spaces

The leader of Urban Place Consulting Group likens it to the urban-planning version of what the software industry calls beta testing.

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Legacy Partners Planning $6.5 Million Upgrade of Sorrento Office Campus

Legacy Partners Commercial Inc. plans more than $6.5 million in renovations at Sorrento Canyon Technology Center in Sorrento Mesa, which it purchased earlier this year in a joint venture with an affiliate of Goldman Sachs.

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Murphy Development Purchases Scripps Ranch Land from Intel

San Diego-based Murphy Development Co. has purchased 30.9 acres of undeveloped land in the Scripps Ranch Business Park from Intel Corp., for an undisclosed price.

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Realty Income Conducting $250 Million Senior Note Offering

Escondido-based Realty Income Corp. is conducting a public offering of $250 million in senior unsecured notes, expected to close on Sept. 23.

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Poway Medical Office Condos Sell for $6 Million

Aranguren Family Trust of Palos Verdes Estates has purchased five medical office condominium units in Poway for $6 million, according to CoStar Group and public data.

Minimum Wage Opponents Gather 56,000 Petition Signatures

Opponents of a planned hike in San Diego’s minimum wage said they have collected more than 56,000 petition signatures, well above the 34,000 required to place the issue before voters.

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Lionstone Investments Acquires San Diego Tech Center

Houston-based Lionstone Investments, on behalf of an institutional client, has acquired the nine-building San Diego Tech Center office park in Sorrento Mesa for an undisclosed price.

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El Cajon Apartment Building Sells for $8.2 Million

Heritage Group Partners of Newport Beach has acquired The Heritage Apartments, a 56-unit apartment building in El Cajon, for $8.2 million, according to CoStar Group and public data.

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San Diego Firm Buys Lake Elsinore Retail Center for $33.5 Million

HELF Investments LP of San Diego has purchased Canyon Hills Marketplace, a retail center in Lake Elsinore, for $33.5 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

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Target Plans to Open Small-Format Store in South Park

Target Corp. plans to open a location of its new small-format TargetExpress in San Diego’s South Park neighborhood in July 2015.

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Douglas Wilson Cos. Acquires Spring Valley Development Land for $5.7 Million

San Diego-based Douglas Wilson Cos. has purchased 50 acres of land in Spring Valley for $5.7 million, with plans for development of residential and neighborhood-serving commercial components.

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Wal-Mart Hiring 85 for Poway Store Expansion

Wal-Mart Stores Inc. plans to hire 85 new workers as part of an expansion underway at its Poway Walmart location, set for completion this fall.

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Realty Income Officials Ring Closing Bell at NYSE

Leaders of Realty Income Corp. recently rang the closing bell of the New York Stock Exchange, marking the Escondido-based company’s 20th anniversary as a publicly traded company.

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Emmes Completes $10M Renovation of Downtown Tower

Emmes Realty Services recently completed a $10 million renovation of 1 Columbia Place, the 27-story downtown San Diego office tower that it purchased in 2012 for approximately $135 million.

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New Alpine Store is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine. It is the fifth location for the San Diego-based retailer.