San Diego Business Journal

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Emmes Completes $10 Million 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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Alpine Addition is Fifth Location for Barons Market

Specialty grocer Barons Market recently opened its newest store at 1347 Tavern Road in Alpine.

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County Hotel Deal Pricing Puts It in Top Spot

TOURISM: Good Room Metrics Boost Prices of Properties

San Diego topped all other California counties for the value of hotel property sales deals completed in the first half of 2014, according to the latest data from Atlas Hospitality Group, and the local region will likely see increasing scrutiny from investors amid continuing improvement in the hospitality economy.

Downtown Project Pipeline Wide Open

PROPERTY: Residential Plans Are Coming to Life

Developers have submitted plans for a 19-story mixed-use project that would bring 320 apartment units to East Village, the latest of several developments planned or under construction in the recently bustling neighborhood of downtown San Diego.

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Rising Tourist Tide

TOURISM: Midway and Maritime Museum Draw Crowds to Their Ships

At a spot on the downtown waterfront, within sight of the exact place where Juan Rodriguez Cabrillo first sailed into what is now called San Diego Bay in 1542, workers are busily assembling a full-scale replica of the explorer’s Spanish galleon, known as the San Salvador.

Industrial Land in San Marcos Sells for $11 Million

A Los Angeles-based entity of homebuilder D.R. Horton has purchased approximately 8.3 acres of land in San Marcos for $11 million, according to CoStar Group and public data.

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Cemetery Building in San Diego Sells for $8.5 Million

Northstar Memorial Group of Houston has purchased a cemetery and mausoleum building at Greenwood Memorial cemetery in southeast San Diego for approximately $8.5 million, according to CoStar Group and public data.

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Chula Vista Apartment Property Sells for $9.5 Million

San Diego-based Cova Management Inc. has purchased the 62-unit Castle Park Garden Apartments in Chula Vista for $9.5 million, according to CoStar Group and public data

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AMC Theatres Completes Renovation at Chula Vista Location

Kansas-based AMC Theatres has completed an extensive renovation of its AMC Chula Vista 10 movie theater, located at 555 Broadway in Chula Vista.

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Carlsbad Office Property Housing Bank Sells for $7.2 Million

San Diego investor and developer Dan Floit has acquired a Carlsbad office building housing Bank of America for $7.2 million, according to brokerage company CBRE Group Inc.

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Long-vacant Pernicano’s Building Goes on the Market

The long-vacant Pernicano’s restaurant building, at 3840 Sixth Ave. in Hillcrest, is being placed up for sale.

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Carlsbad Office Building Sells for $15.25 Million

An entity listed as RREF II-CP Crossings JV LLC has purchased the Crossings Corporate Center office building in Carlsbad for $15.25 million, according to CoStar Group and public data.

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La Jolla Commercial Properties Sold for $6.17 Million

USA Properties Inc. of San Diego has purchased several retail buildings with adjacent land in La Jolla for approximately $6.17 million, according to brokerage company Cushman & Wakefield Inc.

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Gafcon Relocates Headquarters to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Diego Retail Center Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million, according to CoStar Group and public data.

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Carlsbad Commercial Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Gafcon Relocates Headquarters From Downtown to Sorrento Valley

San Diego-based Gafcon Inc., a provider of construction management and consulting services, has relocated its headquarters from downtown to Sorrento Valley.

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San Diego Retail Property Sells for $6.37 Million

Piazza Santaluz LLC of San Diego has purchased a two-building retail center near the city’s Black Mountain Ranch neighborhood for approximately $6.37 million.

It Is a Lively Commercial Scene in and Around Downtown

If it seems like there’s been lots of churn lately in downtown San Diego’s commercial scene, there’s even more on the way in the Gaslamp Quarter and Little Italy.

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Downtown’s Residential Options Keep On Growing

REAL ESTATE: Area Delivers Urban Appeal To Young Millennials

Downtown San Diego currently has about 2,000 apartments and condominiums in various stages of planning and construction, and two newly proposed mixed-use projects are slated to add another 386 to that total.

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Planned Hotels Would Be Boost for Oceanside

TOURISM: City Will Get Much Needed Meeting Space

A $150 million resort development being planned in downtown Oceanside includes what would be that city’s first full-service hotel, as it seeks its share of a growing influx of North County coastal visitors and related economic benefits.

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Carlsbad Office Property Sells for $5.8 Million

Sunwood Pacific Ridge LLC of San Diego has purchased Pacific Ridge Commerce Center in Carlsbad for $5.8 million, with plans for significant renovations of the office and industrial park.

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Realty Income Names New Chief Operating Officer

Escondido-based Realty Income Corp. has appointed Sumit Roy to the post of chief operating officer, effective Oct. 1.

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DSW Opens Its Newest Local Shoe Store in Santee

Retailer DSW Inc. has opened the latest local location of its DSW Designer Shoe Warehouse at Santee Trolley Square.

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San Diego Apartment Building Sells for $3.95 Million

Investor Matthew Rattner has purchased the 29-unit Windsong Apartments, in San Diego’s Rolando/SDSU neighborhood, for $3.95 million, according to brokerage firm Apartment Consultants Inc. (ACI), which represented the buyer and seller.

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Hilton San Diego Del Mar Completes $15 Million Renovation

Operators of Hilton San Diego Del Mar recently completed a $15 million renovation of the 257-room property.

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Spring Valley Apartment Property Sells for $3.65 Million

Carv Properties LLC of Chula Vista has acquired the 28-unit Greenwood Villas Apartments in Spring Valley for $3.65 million, according to CoStar Group and public data

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Bottega Americano Opening in East Village at Law School Building

Operators planned an Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

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Escondido Apartment Complex Sells for $9.9M

Claus Family Trust of Del Mar has purchased Windsong Villas, a 67-unit apartment complex in Escondido, for $9.9 million, according to CoStar Group and public data.

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Harper Construction Finishes $2.67 Million Sheriff’s Substation

Harper Construction Co. of San Diego has completed a new $2.67 million San Diego County Sheriff’s substation, which opened recently at 28914 Old Highway 80 in Pine Valley.

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Bottega Americano Set to Open in East Village at Law School Building

Operators plan Aug. 31 opening for Bottega Americano, an Italian-style restaurant and specialty food marketplace in downtown San Diego’s East Village.

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Drought-Resistant Landscaping Demand Is in Full Bloom

PROPERTY: Water Shortage Brings Changes In Attitudes, Regulations

New emergency water-use restrictions enacted by the state of California, aimed at reducing outdoor water consumption in urban areas, are bringing home conservation themes that local landscape architects have been preaching for years.

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Harper Construction Completes $2.67 Million Sheriff’s Substation

Harper Construction Co. of San Diego has completed a new $2.67 million San Diego County Sheriff’s substation, which opened recently at 28914 Old Highway 80 in Pine Valley.

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Escondido Apartment Property Sells for $9.9M

Claus Family Trust of Del Mar has purchased Windsong Villas, a 67-unit apartment complex in Escondido, for $9.9 million, according to CoStar Group and public data.

New Law Ensures That Brokers Disclose Roles

REAL ESTATE: Commercial Rules To Be Toughened Jan. 1

Gov. Jerry Brown recently signed into law new broker disclosure rules bringing commercial real estate into line with what is already required in residential real estate.

Chamber Ready to Push for Policies, Politicians

groups: Survey Finds Businesses Looking for More Aggressive Advocate

Fresh off wins in recent battles over issues including developer linkage fees and the Barrio Logan community plan update, the San Diego Regional Chamber of Commerce is aiming to further boost its clout in business and political circles.

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Balfour Beatty Completes First Phase of $221.5 Million Detention Facility

The San Diego office of Balfour Beatty Construction recently completed the first phase of the two-phase, $221.5 million Las Colinas Detention and Re-entry Facility in Santee.

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Downtown’s Declan Suites Hotel Completes Renovation

Operators recently completed a multimillion-dollar renovation of The Declan Suites hotel, located in the Cortez Hill neighborhood of downtown San Diego.

City Won’t Appeal Court Ruling on Convention Center Finance Plan

San Diego City Council recently voted 7-0 not to appeal a court ruling that invalidated the funding mechanism for a planned $520 million expansion of the San Diego Convention Center.

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San Diego County Construction Project Values Rise 42 Percent

San Diego County’s contracts awarded for future construction rose 42 percent in value from a year ago in the first seven months of 2014, according to the latest data from McGraw Hill Construction.

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Escondido Apartment Property Sells for $10.8 Million

Vista International Inc. of San Francisco has purchased the 96-unit Tanglewood Apartments in Escondido for approximately $10.8 million, according to CoStar Group and public data.

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Governor Park Office Building Sold for $3.9 Million

Locale Advisors Inc. of San Diego has purchased an office building in the city’s Governor Park neighborhood for approximately $3.9 million, according to a statement from the real estate investment firm.

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Mission Valley Office Building Sells for $3.3 Million

West Coast Development of Mission Viejo has purchased a Mission Valley office building for approximately $3.3 million, according to CoStar Group and public data.

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Pinnacle Hotels Completes $3.5 Million Renovation of Four Points by Sheraton

San Diego-based Pinnacle Hotels USA has completed a $3.5 million renovation of the Four Points by Sheraton San Diego Downtown hotel.

Opponents of Minimum Wage Hike Begin Referendum Efforts

Opponents of an approved hike in San Diego’s minimum wage have begun circulating petitions to place the matter before voters, following City Council’s recent override of a mayoral veto.

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Fenway Properties Obtains $7.1M Loan for Office Renovation in Oceanside

Investment firm Fenway Properties of San Diego has obtained $7.1 million in financing for a planned renovation of Tri-City Corporate Towers in Oceanside.

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$3.7 Million Card Room Project Underway in Chula Vista

Dempsey Construction Inc. of Carlsbad is at work on a $3.7 million renovation and expansion that will convert an existing property into the new location for Village Club Card Room casino in Chula Vista.

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$3.7 Million Village Club Card Room Project Underway

Dempsey Construction Inc. of Carlsbad is at work on a $3.7 million renovation and expansion that will convert an existing property into the new location for Village Club Card Room casino in Chula Vista.

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Fenway Properties Obtains $7.1 Million Loan for Oceanside Office Renovation

Investment firm Fenway Properties of San Diego has obtained $7.1 million in financing for a planned renovation of Tri-City Corporate Towers in Oceanside.

Vista Brewer Is Bringing Its Craft(s) to Mercado Del Barrio

Experts at a recent craft beer summit in North County pointed out that brewers from that region have some work to do when it comes to boosting their profile in places such as the city of San Diego, which has its own crowded contingent of beer makers running their own tasting rooms and brewpubs.