San Diego Business Journal

Uber Launching Carpooling Service in San Diego

San Francisco-headquartered Uber Technologies Inc. plans an April 25 launch in San Diego of its UberPool ride-hailing service, allowing customers heading to the same destination to share rides at a discounted price.

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Carlsbad Retail Center Owner Obtains $43 Million in Refinancing

Connecticut-based owner Cornerstone Real Estate Advisers LLC has obtained $43 million in refinancing for its Bressi Ranch Village Center in Carlsbad, according to CBRE Group Inc., which arranged the loan.

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Otay Mesa Industrial Buildings Sold for $45.2 Million

A San Diego buyer recorded as Siempre Viva Industrial LLC has acquired a two-building industrial portfolio in Otay Mesa for $45.2 million, according to CoStar Group and public data.

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Oceanside Apartment Complex Sells for $26.5 Million

Milano Apartments Homes LP of San Diego has purchased a 114-unit Oceanside apartment complex for $26.5 million, according to brokerage company Marcus & Millichap.

Pima Medical Institute Plans New Location in San Marcos

Healthcare education provider Pima Medical Institute has signed a long-term lease for a space at the North City mixed-use development in San Marcos, the project’s developer announced.

SeaWorld Drops Plans for Orca Habitat Expansion

SeaWorld San Diego has notified the California Coastal Commission that it is dropping plans for a $100 million expansion of its orca habitat, following an earlier decision by its parent firm to discontinue whale breeding at all of its marine parks.

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Walker Named General Manager at Hilton San Diego Bayfront Hotel

Hilton Worldwide has named Tracy Walker as area general manager for the San Diego region, with duties that include direct oversight of the 1,190-room Hilton San Diego Bayfront hotel.

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Poway Retail Center Sells for $4.85 Million

A buyer listed as Senang Investments LLC of San Diego has purchased the Poway Town Center retail property for $4.85 million, according to brokerage firm Duhs Commercial Inc.

Talks Continuing on Tourism Marketing District Lawsuit

Talks are continuing on a potential settlement of a citizen group’s lawsuit related to the funding mechanism for the San Diego Tourism Marketing District.

Trammell Crow Buys Land at Millenia for $15.45 Million

A local affiliate of Dallas-based Trammell Crow Residential Co. has acquired approximately 9.4 acres of land within Chula Vista’s Millenia development for $15.45 million, according to CoStar Group and public data.

Three Local Sport Chalet Stores Set for Closing

Three San Diego locations of Sport Chalet are slated to close, following an announcement by Vestis Retail Group that it is shutting all 47 U.S. locations of the sporting goods chain.

Port Is Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

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$40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

Port Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

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A $40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

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Historic Sherman Heights Apartment Property Sells for $5.3 Million

San Diego-based SENTRE Inc. has acquired a 27-unit historic apartment building in the city’s Sherman Heights neighborhood for $5.3 million, according to the buyer and brokerage firm ACRE Investment Real Estate Services.

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New Mexico Firm Buys Downtown Tower for $55 Million

Gemini Rosemont LLC of Santa Fe, N.M., has purchased a 19-story downtown San Diego office tower for $55 million, according to CoStar Group and the buyer.

Rental Cars’ Exit Left Big Opening for Redevelopment

PROPERTY: Port Staff Favoring 2 of 6 Proposals For Harbor Island

San Diego port commissioners were scheduled on April 14 to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots. Proposed new elements include hotels, office buildings, public plazas, an aquarium, and a high-tech golf driving range.

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Big Development Opportunity Draws a Crowd of Contenders

PROPERTY: Seaport Village Project Is Rare Chance for Coastal Work

The Unified Port of San Diego has no shortage of companies looking to be part of what eventually replaces the iconic Seaport Village, on a portion of the downtown San Diego waterfront that spans 70 acres.

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Holding Pattern

TRAVEL: Six-Year-Old Airline Still Waiting to Be Cleared for Takeoff

At age 95, the founder of the fledgling — though yet to fly — California Pacific Airlines remains adamant that the region needs a North County alternative to the landlocked San Diego International Airport for commercial air service.

TMD Again Has Target On Its Back

TOURISM: Stadium, Lawsuit Could Affect Funding

Hoteliers and other advocates for the San Diego Tourism Marketing District were not happy in 2013 when Mayor Bob Filner began his brief and controversial tenure by choosing not to renew what was at that time a five-year-old program intended to support local visitor programs.

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Vista Apartments Sold for $5.5 Million

Newkirk Family Trust of San Diego has acquired a 20-unit apartment property in Vista for $5.5 million, according to brokerage firm Marcus & Millichap.

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Carlsbad Apartment Property Sells for $9.35 Million

A buyer listed as Bella La Costa LLC of San Diego has purchased a 24-unit apartment property in Carlsbad for $9.35 million, according to brokerage firm Marcus & Millichap.

Settlement Reported Pending in Suit over Tourism Marketing District

A settlement reportedly is in the works over the fate of San Diego’s Tourism Marketing District, which is the subject of a pending lawsuit and targeted for elimination in a citizens’ coalition’s proposal to raise the city’s hotel taxes by 5 percent. However, the city attorney said he had no knowledge of any settlement.

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Santee Retail Property Sells for $27.5 Million

Union City Investments LLC of Santa Monica has acquired the four-building Santee Town Center retail property for approximately $27.5 million, according to CoStar Group and public data.

USC Report: Apartment Rents to Keep Rising through 2018

Despite rising construction, increasing demand for apartments will keep vacancies low and drive significant rent increases in San Diego County and elsewhere in Southern California over the next two years, according to a University of Southern California forecast.

Grubhub Expands Restaurant-Focused Service to Local Market

Chicago-based Grubhub Inc. has expanded to the San Diego market with its delivery services geared to restaurants that do not currently have in-house delivery staff.

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Irvine Firm Buys Escondido Apartment Property for $7.7 Million

The Bascom Group LLC of Irvine has acquired a 43-unit apartment community in Escondido for $7.7 million, the buyer announced.

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El Cajon Apartments Sold for $3 Million

Chasin Coleman Family Trust of San Diego has purchased an 18-unit apartment property in El Cajon for $3 million, according to brokerage firm Apartment Consultants Inc. (ACI).

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Construction to Begin on Makers Quarter Apartment Project

Developers have scheduled an April 11 ground-breaking for the Broadstone Makers Quarter apartment complex, the first project to move forward in the mixed-use Makers Quarter in East Village.

Port District Is Reviewing 6 Proposals to Redevelop Harbor Island Property

San Diego port commissioners on April 14 are scheduled to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots.

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Kearny Mesa Office Building Sold for $7 Million

AAE Pacific Park Associates LLC of San Diego has purchased a Kearny Mesa office building for $7 million, according to brokerage firm Marcus & Millichap.

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Allegiant Begins Nonstop Flights between San Diego, Stockton

Las Vegas-based airline Allegiant recently began new non-stop service between Stockton and San Diego International Airport.

Port District Reviewing 6 Proposals to Redevelop Harbor Island Property

San Diego port commissioners on April 14 are scheduled to review six proposals to redevelop 57 acres on Harbor Island, including several sites that formerly housed rental car lots.

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Krikorian Entity Buys Solana Beach Buildings for $15.5 Million

A buying group that includes the founder and CEO of Torrance-based cinema chain Krikorian Premiere Theatres has acquired two medical office properties in Solana Beach for $15.5 million, according to CoStar Group and public data.

Three Local Apartment Properties Get New Owners

Three San Diego County apartment properties recently changed hands in separate transactions, including a 12-unit La Mesa complex that sold for approximately $2.6 million.

Entrances, Exits, and Expansions Keep Grocery Sector Active

San Diego County’s grocery venues continue to multiply at a dizzying pace. In some cases, it’s because companies fail and leave prime spaces ready for newcomers to swoop in and take their place; at other times, it’s the classic case of retailers simply chasing new residential rooftops.

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Work Starts on $20.4M Affordable Apartment Complex in Encanto

Construction recently got underway on Ouchi Courtyard, a $20.4 million affordable-housing community with ground-floor retail in San Diego’s Encanto neighborhood.

New Downtown Marriott Hotels Open at Former Lane Field Site

Developers planned an April 7 formal opening for the first dual-branded Marriott hotels on the former site of the Lane Field ballpark in downtown San Diego, part of a larger mixed-use project now known as BRIC.

Consulting Firm Relocation Strategies Opens Carlsbad Office

Cincinnati-based Relocation Strategies Inc., a franchise company that provides planning and consulting services related to corporate relocations, has opened its first San Diego County office, at 2945 Harding St., Suite 104, in Carlsbad.

Lyft Expanding Line-Based Matching Service to San Diego

Ride-hailing service and technology firm Lyft Inc. is expanding its Lyft Line offering to the San Diego market, matching passengers heading along similar routes into the same vehicle starting during the week of April 11.

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Local Firm Buys Portland Apartments for $57.85 Million

San Diego-based MG Properties Group has purchased a 283-unit apartment property in Portland, Ore., for $57.85 million, the company announced.

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East Village Apartment Building Sells for $52.6 Million

An affiliate of San Mateo-based Essex Property Trust Inc. has acquired a 241-unit apartment building in downtown San Diego’s East Village for approximately $52.6 million, according to CoStar Group and public data.

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BioMed Leases Full i3 Campus at UTC to Illumina

Property owner BioMed Realty announced that it has fully leased its 316,000-square-foot i3 campus, currently under construction at University Town Center, to biotech company Illumina Inc.

Report: Local Beer Makers Generated $851 Million in 2015 Sales

San Diego County’s craft beer makers generated $851 million in sales while employing more than 4,500 during 2015, according to the latest annual industry impact update by National University System Institute for Policy Research.

Tourism Authority Opposes Chargers’ Plan for Hybrid Facility

The San Diego Tourism Authority’s board chairman has issued a statement opposing the San Diego Chargers’ proposal for a combined downtown stadium and convention facility, citing clients’ preference for space contiguous to the existing convention center.

Former SeaWorld Show Producer Accused of Embezzling $750,000

A former SeaWorld San Diego manager has been arraigned on wire fraud charges, after allegedly embezzling more than $750,000 while working as a show producer at the marine park.

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BioMed Realty Buys UTC Buildings for $55 Million

BioMed Realty has purchased a two-building laboratory and office property in University Towne Center for $55 million, the San Diego-based company announced.

Local Construction Starts Down 26 Percent in Jan.-Feb. Period

San Diego County’s construction starts declined 26 percent from the same period a year ago in the first two months of 2016, to $432.1 million, according to the latest monthly figures from Dodge Data & Analytics.

February Passenger Traffic Up 6.8 Percent at San Diego International

Passenger traffic at San Diego International Airport was up 6.8 percent from a year ago in February, topping 1.43 million, according to the latest available data from the San Diego County Regional Airport Authority.

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