San Diego Business Journal

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URBN Restaurants Opening Fourth Pizza Eatery in Encinitas

San Diego-based URBN Restaurants, led by longtime restaurateur Jon Mangini, plans to debut its fourth pizza-oriented concept restaurant in March. Operators said URBN Coal Fired Pizza will open at 764 S. Coast Highway 101 in Encinitas.

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$5 Million Renovation Underway at Downtown’s Hotel Palomar

Kimpton Hotels & Restaurants has begun a $5 million renovation of downtown’s Hotel Palomar San Diego, with 50 of its rooms on five floors being reconfigured and rebranded under a concept called Skyline Collection.

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Efforts to Keep Chargers Proceed Despite Carson Stadium Proposal

Mayor Kevin Faulconer and his newly appointed stadium advisory group are continuing efforts toward keeping the San Diego Chargers in the city, despite a joint proposal announced by the Chargers and Oakland Raiders to build a new $1.7 billion football stadium near Los Angeles.

It May Be Tax Time for Sites Offering Temporary Stays in S.D.

LEGAL: City Seeks TOT Revenue as Web Changes Tourism Paradigm

San Diego has joined the growing list of major U.S. cities grappling with fiscal and social fallout from rising use of sites such as Airbnb, where property owners rent out rooms or whole homes to vacationers and others on short stays.

Timing Looks Right for This New Life Sciences Campus in UTC

Real Estate Column

San Diego’s BioMed Realty Trust Inc. has not announced the tenants for its long-planned, $190 million life-science lab and office campus called i3, which recently broke ground at University Towne Center. But the trends in recent brokerage data suggest the company shouldn’t have much trouble filling up the 316,000-square-foot project.

Virgin America Relocates to Terminal 2 West

Virgin America has relocated its local air operations to Terminal 2 West at San Diego International Airport.

We Oughta Be in Pictures

TOURISM: Region Plots Ways to Woo Film, TV Productions

Discussions are underway to replace what was once the San Diego Film Commission — eliminated as a result of 2013’s tourism-related city budget squabbling — with a new regional organization aimed at making San Diego County a competitive hub for movie and TV production.

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Church Buys Miramar Office Building for $3.2 Million

Bread of Life Church has purchased an office building in San Diego’s Miramar neighborhood for $3.2 million, with plans to convert the property for a church and related operations, according to Voit Real Estate Services.

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Retail Building Housing Dave & Buster’s Sold for $11.9 Million

Store Capital of Scottsdale, Ariz., has purchased a Mission Valley retail building housing the restaurant Dave & Buster’s for $11.9 million, according to real estate advisory firm Faris Lee Investments, which represented the buyer and seller.

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Report: Craft Beer Generates $600 Million for Region’s Economy

San Diego County’s craft beer breweries and brewpubs generated $600 million in regional economic impact during 2014, a doubling since 2011, according to the latest updated report by National University System Institute for Policy Research.

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Escondido Industrial Park Sells for $7.3 Million

A San Diego entity recorded as 15 North LLC has purchased an Escondido industrial property known as Simpson Business Park for $7.3 million, according to brokerage company Lee & Associates, which represented the seller.

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Realty Income Posts 2014 Increases in Revenue, Net Income

Revenue at Realty Income Corp. rose 19.6 percent in 2014, reaching $933.5 million, as net income available to common stockholders increased 11.7 percent from 2013, totaling $227.6 million, the Escondido-based company reported.

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New Local Kidder Mathews Office Adds 4 More Commercial Brokers

The newly opened San Diego office of commercial brokerage firm Kidder Mathews has added four experienced brokers to its roster, including three more who switched over from the local office of Cushman & Wakefield Inc.

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Expedia Travel Agency Division Opens San Diego Location

Expedia CruiseShipCenters, a division of online travel information provider Expedia Inc. that markets and sells cruise vacations through franchised offices, recently opened a San Diego location.

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San Diego Industrial Building Sells for $4.95 Million

A Beverly Hills entity recorded as 3055 Del Sol LLC has purchased an industrial building in Otay Mesa West for $4.95 million, according to brokerage company Marcus & Millichap Inc., which represented the seller.

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Lincoln Property Buys Carlsbad Buildings for $11.9 Million

Lincoln Property Co. has purchased a two-building office and industrial park in Carlsbad for $11.9 million, the Dallas-based investment and development firm announced.

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Fallbrook Apartment Building Sold for $2 Million

Wood Family Trust has purchased an 18-unit apartment property in Fallbrook for approximately $2 million, according to brokerage company Colliers International, which represented the buyer.

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Oceanside Apartment Property Sells for $2.5 Million

Glenn L. Goldman Family Trust has acquired a 12-unit Oceanside apartment property for $2.5 million, according to brokerage company Marcus & Millichap Inc., which represented the seller.

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Level 10 Completing Renovations at USD, UC San Diego

The San Diego office of general contractor Level 10 Construction was recently chosen to perform extensive renovations of two buildings at the University of San Diego in Linda Vista, and one at the University of California, San Diego in La Jolla.

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Mesa College Opens $40.5 Million Science Building

San Diego Mesa College recently marked the opening of its $40.5 million social and behavioral sciences building, located at the community college’s Kearny Mesa campus off Mesa College Drive.

Residential Lots in Encinitas Purchased for $7.5 Million

Homebuilder Davidson Communities of Del Mar has purchased 19 undeveloped residential lots in Encinitas for approximately $7.5 million, according to real estate services provider Land Advisors Organization, which handled the transaction.

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Mission Valley Office Building Sells for $2.8 Million

An entity recorded as 3590 CDRN LLC has purchased a Mission Valley office building for approximately $2.8 million, according to brokerage company Cushman & Wakefield Inc., which represented the buyer and seller.

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Forbes Awards Five-Star Ratings to Three San Diego County Hotels

Three San Diego County hotels earned Five-Star ratings for their accommodations in the latest edition of Forbes Travel Guide, formerly known as Mobile Travel Guide.

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Port Studying Options, Leaves Ride Proposals Up in the Air

PROPERTY: Costs Of Attractions Range From $40M to $200M

Questions over timing and priorities came to the fore as port commissioners reviewed five proposals to put Ferris wheel or observation tower attractions on the downtown San Diego waterfront.

American Assets Completes $100M Debt Offering

San Diego-based American Assets Trust Inc. has closed on a $100 million privately placed debt offering.

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Site Remediation Puts Properties Back in Play

BUILDING: Engineers Busy With Environmental Healing

Rising demand for new apartments in the region’s urban-core neighborhoods has quickened the pace of new project assignments for SCS Engineers and its competitors who advise developers on ways to put old contaminated sites to new uses in environmentally friendly ways.

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Medical Group to Occupy Mission Valley Building After $2.8 Million Deal

An entity recorded as 3590 CDRN LLC has purchased a Mission Valley office building for approximately $2.8 million, according to brokerage company Cushman & Wakefield Inc., which represented the buyer and seller.

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Mesa College Opens $40.5 Million Social/Behavioral Sciences Building

San Diego Mesa College recently marked the opening of its $40.5 million social and behavioral sciences building, located at the community college’s Kearny Mesa campus off Mesa College Drive.

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Three Local Hotels Earn Five-Star Ratings in Forbes Travel Guide

Three San Diego County hotels earned Five-Star ratings for their accommodations in the latest edition of Forbes Travel Guide, formerly known as Mobile Travel Guide.

Encinitas Residential Lots Sold for $7.5 Million

Homebuilder Davidson Communities of Del Mar has purchased 19 undeveloped residential lots in Encinitas for approximately $7.5 million, according to real estate services provider Land Advisors Organization, which handled the transaction.

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Miramar Industrial Park Sells for $6.7 Million

Providence Capital Group has purchased the two-building Soledad Business Park in San Diego’s Miramar neighborhood for $6.7 million, according to Colliers International, which handled the transaction.

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Virgin America Relocates Operations at San Diego International

Virgin America has relocated its local air operations to Terminal 2 West at San Diego International Airport.

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BioMed Realty Trust Breaks Ground on UTC Life-Sciences Campus

San Diego-based BioMed Realty Trust Inc. has broken ground on its previously announced i3, a new $189 million life-sciences laboratory and office campus being built in University Towne Center.

American Assets Trust Completes $100 Million Debt Offering

San Diego-based American Assets Trust Inc. has closed on a $100 million privately placed debt offering.

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San Marcos Industrial Property Sells for $6.8 Million

JRD Real Estate V LLC of Wilmington, Del., has purchased a San Marcos industrial property for $6.8 million, according to brokerage company Colliers International, which represented the seller.

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Nine Local Stores on RadioShack Closing List

Nine San Diego County locations are among nearly 1,800 stores targeted for potential closing by RadioShack as part of a recent Chapter 11 bankruptcy filing, according to a list released by the Texas-based retailer.

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Otay Mesa Retail Centers Sold For $8.94 Million

Kroeger Family Properties has acquired two retail centers in San Diego’s Otay Mesa neighborhood for approximately $8.94 million, according to Colliers International, which represented the sellers.

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State Makes $10.8 Million Land Buy in Kearny Mesa for New CHP Office

The state of California has purchased a Kearny Mesa land parcel for approximately $10.8 million, with plans to build a new California Highway Patrol office at the site, according to Voit Real Estate Services, which represented the seller.

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San Marcos Retail Center Sells for $53.4 Million

A buyer group that includes Emerald Interests Corp. of Scottsdale, Ariz., has purchased the seven-building Campus Marketplace retail center in San Marcos for $53.4 million, according to CoStar Group and public data.

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Local Retail Center Part of $925 Million Portfolio Deal

Eleven San Diego retail buildings were part of a recent $925 million deal, in which New York-based Kimco Realty Corp. bought out its joint venture partner in a multi-state portfolio of 131 buildings, according to CoStar Group and the buyer.

FAA Sees Planned Ferris Wheel Operating at an Unsafe Altitude

Port commissioners are scheduled Feb. 10 to review several proposals to put a giant Ferris wheel on the San Diego bayfront, but it’s already looking as though developers will need to at least downsize their dreams.

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New Name, Plan for North County Project

PROPERTY: It Puts More Open Land, Trails in the Picture

A senior official with San Diego-based Newland Communities says the company has made crucial changes to a large master-planned project near Escondido that was rejected by county supervisors under a prior developer, though it could still be several years before a single new home gets built.

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Tapping Its Resources

BEER: Brewer Sets Up Financing, Production for Even Bigger Push in State

San Diego’s Karl Strauss Brewing Co., the granddaddy of local craft beer brewers, is taking steps to boost production capacity and meet growing retail demand for products such as its Red Trolley Ale.

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Spire is Latest Attraction Proposed for Downtown Waterfront

A downtown waterfront “SkySpire,” similar in appearance to Seattle’s Space Needle, is the latest addition to a list of proposed attractions that San Diego port district officials are expected to discuss at their Feb. 10 meeting.

Airport Seeks Potential Developers of Parking Plaza

San Diego International Airport operators are seeking potential developers for the design and construction of a “high-level experience” public-use parking plaza.

Fab Lab San Diego Relaunches in East Village

Community and tech industry leaders marked the relocation and relaunch of Fab Lab San Diego, which recently moved from Kearny Mesa to the new Makers Quarter mixed-use development in downtown’s East Village.

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New Tenants Announced for Pacific Highlands Ranch Retail Center

Locally based clothing and accessories retailer Urban Girl is among new tenants signed to occupy The Village at Pacific Highlands Ranch, a new retail center under construction in San Diego’s Carmel Valley neighborhood.

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MetLife Takes $54 Million Stake in Downtown Apartment Property

MetLife Inc. of New York has acquired a partial stake in a 264-unit East Village apartment property for $54 million, according to CoStar Group and public data.

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Target Plans October Openings for New San Diego Stores

Retailer Target Corp. has scheduled October openings for two San Diego stores that will be among 15 locations under various formats debuting nationwide during 2015.

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Poway Nursing Facility Building Sold for $7.45 Million

A Studio City-based entity recorded as 12696 Monte Vista Road LLC has acquired the Villa Monte Vista skilled-nursing facility building in Poway for $7.45 million, according to CoStar Group and public data.