San Diego Business Journal

Gafcon Gets $22M School District Project in Santa Monica

San Diego’s Gafcon Inc. has been selected to provide construction management and other project-related oversight services for a $22 million district-wide improvement project by the Santa Monica-Malibu Unified School District.

By Lou Hirsh March 14, 2017 10:14 a.m. share »
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San Ysidro Industrial Property Sells for $5.77 Million

Spectex Holdings LLC of Phoenix has acquired a San Ysidro industrial property for approximately $5.77 million, according to CoStar Group and public data.

By Lou Hirsh March 13, 2017 3:58 p.m. share »

Developers Planning New Oceanfront Resort in Del Mar

Two Encinitas-headquartered development firms are in the process of acquiring 16 acres of prime oceanfront real estate in Del Mar for a proposed luxury resort.

By Lou Hirsh March 12, 2017 1:07 p.m. share »

Amazon Is Putting Together a S.D. Team for Strategic Initiative

Internet retail giant Amazon recently set up shop in Solana Beach as part of a “mission critical” strategic initiative that would involve a large expansion in the city.

By John Cox, Lou Hirsh March 12, 2017 1:05 p.m. share »
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Carlsbad Approves Mixed-Use Project Near I-5

The Carlsbad City Council recently approved plans for Carlsbad Village Lofts, a $30 million mixed-use residential project being developed near Interstate 5 by San Diego-based Gerber Group.

By Lou Hirsh March 12, 2017 1:01 p.m. share »
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Pacific Beach Apartments Sell for $3.25 Million

A South Dakota-based buyer recorded as Calowa Investments LLC has acquired an eight-unit apartment property in San Diego’s Pacific Beach neighborhood for approximately $3.25 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 12, 2017 12:59 p.m. share »
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Vista Industrial Building Sold for $3.07 Million

A Vista buyer recorded as Aspire NP JHM LLC has acquired an industrial building in that city for approximately $3.07 million, according to brokerage firm Lee & Associates.

By Lou Hirsh March 12, 2017 12:58 p.m. share »

Developers Are Planning New Oceanfront Resort in Del Mar

Two Encinitas-headquartered development firms are in the process of acquiring 16 acres of prime oceanfront real estate in Del Mar for a proposed luxury resort.

By Lou Hirsh March 10, 2017 3:52 p.m. share »
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Vista Industrial Building Is Sold for $3.07 Million

A Vista buyer recorded as Aspire NP JHM LLC has acquired an industrial building in that city for approximately $3.07 million, according to brokerage firm Lee & Associates.

By Lou Hirsh March 10, 2017 1:50 p.m. share »
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P.B. Apartments Sell for $3.25 Million

A South Dakota-based buyer recorded as Calowa Investments LLC has acquired an eight-unit apartment property in San Diego’s Pacific Beach neighborhood for approximately $3.25 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 10, 2017 1:40 p.m. share »

Amazon Putting Together a San Diego Team for Strategic Initiative

Internet retail giant Amazon recently set up shop in Solana Beach as part of a “mission critical” strategic initiative that would involve a large expansion in the city.

By John Cox, Lou Hirsh March 10, 2017 1:16 p.m. share »
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Carlsbad Approves a Mixed-Use Project Near I-5

The Carlsbad City Council recently approved plans for Carlsbad Village Lofts, a $30 million mixed-use residential project being developed near Interstate 5 by San Diego-based Gerber Group.

By Lou Hirsh March 10, 2017 12:31 p.m. share »
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EDC Study: SoccerCity Would Generate $2.8B Annual Regional Impact

The mixed-use SoccerCity SD proposed for Mission Valley would have a $2.8 billion annual regional economic impact and generate more than 25,000 jobs, according to an independent analysis done by consulting firm AECOM for the San Diego Regional Economic Development Corp.

By Lou Hirsh March 9, 2017 3:18 p.m. share »
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Residential Influx Is Among Factors Boosting Downtown Retail

With a few exceptions, downtown San Diego has hardly been a mecca for retailers over the past two decades.

By Lou Hirsh March 9, 2017 3:14 p.m. share »

Irrational or Realistic Exuberance?

In the 1990s, Alan Greenspan, at that time chair of the Federal Reserve, looked at the markets and made a famous observation about “irrational exuberance,” while still letting events run their course with minimal interference from the Fed.

By Lou Hirsh March 9, 2017 2:19 p.m. share »
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Brewing Co. Expects Bike Path to Drive Business to New Location

The commercial roster is falling into place for the $6 million, mixed-use Bikeway Village development nearing completion in Imperial Beach. And one of those incoming new tenants, Coronado Brewing Co., now has the opportunity to become even more comfortable in a South Bay market where it has been the dominant craft beer maker for two decades.

By Lou Hirsh March 9, 2017 2:04 p.m. share »
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Bankers Hill Apartment Property Sells for $2.85 Million

Barthell Family Trust of Los Angeles has acquired an 18-unit apartment property in San Diego’s Bankers Hill neighborhood for $2.85 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 9, 2017 1:22 p.m. share »
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Bird Rock Coffee Roasters Acquired by Kansas Company

San Diego’s Bird Rock Coffee Roasters has been acquired by Topeka, Kansas-based PT’s Coffee Roasting Co., for an undisclosed price.

By Lou Hirsh March 9, 2017 1:14 p.m. share »
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Apartment Conversion Planned After $5.63M Purchase of El Cajon Motel

A San Francisco buyer recorded as Macphersonite 1031 LLC has purchased the 75-room Ha’ Penny Inn motel in El Cajon for $5.63 million, with plans to convert it into apartments, according to brokerage firm Colliers International Group Inc.

By Lou Hirsh March 8, 2017 5:01 p.m. share »
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Coronado Retail Properties Sold for $22 Million

Kleege Enterprises of San Diego has acquired a portfolio of several retail properties in the center of Coronado for approximately $22 million, according to brokerage firm CBRE Group Inc.

By Lou Hirsh March 8, 2017 4:56 p.m. share »
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Hirshman Leaving SDSU President Post in June

San Diego State University announced March 8 that President Elliot Hirshman is leaving the university to become president of Stevenson University in Maryland. Hirshman has been SDSU’s president since 2011 and will leave the post on June 30.

By Lou Hirsh March 8, 2017 3:17 p.m. share »
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Developer Progressing on Redevelopment of Former Union-Tribune Campus

San Diego developer The Casey Brown Co. is nearing completion on the first phase of a $35 million redevelopment of the former Mission Valley home of The San Diego Union-Tribune.

By Lou Hirsh March 7, 2017 3:45 p.m. share »
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Green Co., Montage Teaming on $360M La Quinta Resort

Encinitas-headquartered The Robert Green Co. will team with Montage International on the developers’ second Pendry-branded hospitality property, to be built in the desert city of La Quinta as part of a larger $360 million resort. The two companies recently opened the $120 million Pendry San Diego hotel in downtown’s Gaslamp Quarter.

By Lou Hirsh March 7, 2017 1:16 p.m. share »
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Furnishings Retailer Room & Board Opening at Westfield UTC

Home furnishings retailer Room & Board plans a late summer 2017 opening for a new 17,000-square-foot store at San Diego’s Westfield UTC mall, according to brokers at NAI Capital and Retail Insite.

By Lou Hirsh March 7, 2017 1:08 p.m. share »
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Developer’s Local Office Obtains Financing for Anaheim Apartments

The San Diego-based western regional office of developer JPI has closed on $128 million in construction financing for the first phase of Jefferson Stadium Park, a luxury apartment community in Anaheim.

By Lou Hirsh March 6, 2017 11:55 a.m. share »
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Carlsbad Office Building Sells for $2.96 Million

Investor Kathleen Lathrum of San Diego has acquired a Carlsbad office building for approximately $2.96 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 6, 2017 11:27 a.m. share »
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Little Italy Apartment Property Sells for $8.57 Million

Rosemont LLC of San Diego has acquired a 24-unit luxury apartment community in downtown’s Little Italy for approximately $8.57 million, according to brokerage firm Berkadia.

By Lou Hirsh March 5, 2017 1:02 p.m. share »
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Hillcrest Mixed-Use Building Sells for $2.2 Million

Investor Tim Foley of San Diego has acquired a mixed-use commercial property in Hillcrest for $2.2 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 5, 2017 1 p.m. share »
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Mixed-Use Building in Hillcrest Sells for $2.2 Million

Investor Tim Foley of San Diego has acquired a mixed-use commercial property in Hillcrest for $2.2 million, according to brokerage firm Marcus & Millichap.

By Lou Hirsh March 3, 2017 12:11 p.m. share »
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Little Italy Apartment Property Sells for $8.57M

Rosemont LLC of San Diego has acquired a 24-unit luxury apartment community in downtown’s Little Italy for approximately $8.57 million, according to brokerage firm Berkadia.

By Lou Hirsh March 3, 2017 11:49 a.m. share »

Who Do You Believe? Experts Trade Dueling Economic Outlooks

It was a classic case of dueling expectations.

By Lou Hirsh March 2, 2017 4:59 p.m. share »

Walmart Opening New Store in Chula Vista

Walmart Stores Inc. plans an early summer 2017 debut for a new Chula Vista store, slated to open at 875 East H St. It will be the Arkansas-based retailer’s fourth Walmart store in Chula Vista.

By Lou Hirsh March 2, 2017 3:43 p.m. share »
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S.D.’s Retail Market Is Strong But Not Immune

The brick-and-mortar retail industry’s post-holiday shoe-dropping — in the form of announced store and restaurant closings — is well underway so far in 2017. And San Diego County hasn’t gone unscathed.

By Lou Hirsh March 2, 2017 2:09 p.m. share »
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Turning Tourism Into a Cash Crop

Seven years ago, George and Kim Murray left their management jobs at the San Onofre Nuclear Generating Station to start a business devoted to their love of wine-making.

By Lou Hirsh March 2, 2017 1:48 p.m. share »
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City Heights Apartments Sold for $3.46 Million

Perkins Family Trust of La Mesa has acquired a 21-unit apartment building in San Diego’s City Heights neighborhood for $3.46 million, according to CoStar Group and public data.

By Lou Hirsh March 1, 2017 4:34 p.m. share »
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Executive Search Firm Buys Little Italy Office Building for $4 Million

An affiliate of San Diego-based executive search firm Bespoke Partners has acquired a Little Italy office building for $4 million, with plans to relocate into the space later this year, according to brokerage firm CBRE Group Inc.

By Lou Hirsh March 1, 2017 2:50 p.m. share »

SeaWorld Entertainment Sees Continued Drops in Revenue, Attendance

Still facing declining attendance and revenue, the Florida-based parent of SeaWorld San Diego reported a net loss of $12.5 million for 2016.

By Lou Hirsh March 1, 2017 1:35 p.m. share »
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Cologne to Lead Higgs Fletcher Law Firm as Morrell Heads to Wilson Cos.

San Diego-based law firm Higgs Fletcher & Mack announced that Steven J. Cologne will become managing partner, succeeding John Morrell as of March 31. The law firm said Morrell, who held the position for 20 years, is leaving to become president of real estate services provider Douglas Wilson Cos.

By Lou Hirsh March 1, 2017 1:02 p.m. share »
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Developer Obtains $12.7M in Financing for Point Loma Mixed-use Project

Developer K&K Veritas LP has obtained approximately $12.7 million in construction financing for a planned new mixed-use luxury apartment community in San Diego’s Midway district in Point Loma, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

By Lou Hirsh February 28, 2017 2:32 p.m. share »

Realty Income Corp. Begins $645.8 Million Stock Offering

Realty Income Corp. has commenced a public stock offering with expected net proceeds of approximately $645.8 million, the San Diego-based company announced.

By Lou Hirsh February 28, 2017 2:24 p.m. share »
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Target Plans November Debut for New Oceanside Store

Target Corp. plans a November 2017 opening for a new 89,000-square-foot store at the Mission Marketplace retail center in Oceanside. It will be the retailer’s second Oceanside store and its 22nd in San Diego County.

By Lou Hirsh February 27, 2017 12:55 p.m. share »
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Bankers Hill Office Property Sells for $2.25 Million

A local buyer recorded as 2341 Fifth Avenue LLC has purchased a Bankers Hill office property for $2.25 million, according to CoStar Group and public data.

By Lou Hirsh February 27, 2017 11:40 a.m. share »
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San Diego International Passenger Count Declined 2.5 Percent in January

Passenger traffic at San Diego International Airport dipped 2.5 percent from a year ago for the month of January, as the facility handled a total of 1.5 million arriving and departing travelers.

By Lou Hirsh February 27, 2017 11:01 a.m. share »
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County’s Construction Starts Declined 4% in January

San Diego County’s construction starts for the month of January dipped 4 percent from the same period a year ago, totaling $329.7 million in value, according to research firm Dodge Data & Analytics.

By Lou Hirsh February 26, 2017 1:05 p.m. share »
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La Mesa Apartments Sold for $7.35 Million

San Diego investor Matt Rattner has acquired a 44-unit apartment property in La Mesa for $7.35 million, according to brokerage firm Apartment Consultants Inc. (ACI).

By Lou Hirsh February 26, 2017 12:59 p.m. share »
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La Mesa Apartments Sold for $7.35M

San Diego investor Matt Rattner has acquired a 44-unit apartment property in La Mesa for $7.35 million, according to brokerage firm Apartment Consultants Inc. (ACI).

By Lou Hirsh February 24, 2017 1:39 p.m. share »
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County’s Construction Starts Declined 4 Percent in January

San Diego County’s construction starts for the month of January dipped 4 percent from the same period a year ago, totaling $329.7 million in value, according to research firm Dodge Data & Analytics.

By Lou Hirsh February 24, 2017 11:53 a.m. share »

Revenue Rises at Retail Opportunity Investments Corp.

Revenue at Retail Opportunity Investments Corp. (ROIC) rose 23 percent from a year ago in the fourth quarter ending Dec. 31, reaching $63.1 million, the San Diego-based company reported.

By Lou Hirsh February 23, 2017 3:31 p.m. share »
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Manchester’s Mission Valley Plan Calls for Retaining Qualcomm Stadium

Developer Douglas Manchester’s vision for the Mission Valley site of Qualcomm Stadium calls for renovating rather than replacing the 50-year-old venue, and potentially adding a new arena to host an NBA team.

By Lou Hirsh February 23, 2017 1:22 p.m. share »
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Developers Have Goal-Oriented Concept for Mission Valley

San Diego hasn’t even won a Major League Soccer franchise, but a local investor group vying to bring one to Mission Valley is wasting no time in branding their mixed-use project as “SoccerCity.”

By Lou Hirsh February 23, 2017 1:21 p.m. share »

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