San Diego Business Journal

Tease photo

Cohu Headquarters Building in Poway Sells for $34 Million

CT Realty of Aliso Viejo has purchased a Poway industrial building housing the headquarters of Cohu Inc. for approximately $34 million, according to brokerage company CBRE Group Inc.

Tease photo

Local Firm Buys South Carolina Apartments for $10.1 Million

San Diego-based The Hampstead Cos. has acquired two apartment properties in Columbia, S.C., totaling 388 units for approximately $10.1 million.

Tease photo

Financing, Land Deals Completed for Little Italy Projects

Financing and land transactions were recently completed for three previously announced projects in downtown San Diego’s Little Italy neighborhood, according to brokers and developers.

Tease photo

Spring Valley Apartment Property Sold for $6.9 Million

Cypress Santa Ana LLC of Orange County has acquired the 44-unit Helix Square apartment property in Spring Valley for $6.9 million, according to brokerage company Marcus & Millichap.

Tease photo

Living Coast Starting $300,000 Turtle Exhibit Renovation

Living Coast Discovery Center is set to begin work by week’s end on a $300,000 enhancement of its Turtle Lagoon exhibit in Chula Vista.

Tease photo

Oceanside Retail Property Sells for $11.5 Million

Focus Real Estate Services LLC has purchased an Oceanside retail property for approximately $11.5 million, according to brokerage company Colliers International.

Tease photo

Pierce Ranks in Top 15 for Cos. Providing Student Housing

PROPERTY: Much of Its $400M Portfolio Has Been Acquired in Recent Years

College student housing has graduated from its former niche status within U.S. apartment investing, as large buy-and-hold institutional players plow capital into the sector in pursuit of steady income.

Hotel Tax Hike Backers Switch Focus to November Ballot

SPORTS: Chargers File Formal Application To Move to Los Angeles

San Diego supporters of an initiative to raise the city’s hotel tax to fund potential projects, including a convention center expansion or San Diego Chargers stadium, will delay submission of signatures in order to qualify the measure for the November 2016 ballot, rather than the previously targeted June 2016 election.

Tease photo

Newmark Grubb Knight Frank Builds Local Retail Team

Consolidation and broker affiliation switches have become the norm in the commercial real estate brokerage business, and 2016 has appropriately begun with key changes impacting one firm’s San Diego operations.

Tease photo

Distillers Act Gives Craft Spirits an Opening

BEVERAGES: Changes May Help Sales and Expansion

With a little help from a crowdfunding campaign — and much more from California’s newly enacted Craft Distillers Act of 2015 — Michael Skubic is anticipating a turbo-charging of business for his small San Diego distilling company and upcoming cocktail bar in 2016.

Tease photo

Officials Say Free Ride Program Should Pay Off

SERVICE: Downtown Service Addresses Needs

Civic San Diego, the city’s downtown project oversight agency, is finalizing details for a service that will use electric vehicles — big enough for five passengers and a driver — to transport riders among all of downtown’s neighborhoods within the city’s designated parking district.

Tease photo

Downtown San Diego Land Parcel Sells for $15 Million

A buyer recorded as ALTA 1919 Holdings LLC has purchased a multi-family-zoned land parcel in downtown San Diego for $15 million, according to brokerage company Colliers International.

Tease photo

Apartments in Oceanside Sell for $4.75 Million

Investors Lawrence and Laura Cohen have purchased the 25-unit Hillsborough Apartments in Oceanside for $4.75 million, in an all-cash deal, according to brokerage company ACRE Investment Real Estate Services.

Chargers Submit Formal Application for LA Relocation

As many expected, owners of the San Diego Chargers have submitted a formal application to the National Football League, seeking to relocate the team to Los Angeles.

Tease photo

National City Senior Apartment Property Sells for $14.9 Million

Santa Barbara-based Highland Partners has acquired the 151-unit Southern Highlands senior apartment complex in National City for $14.9 million, according to brokerage company Sperry Van Ness Asset Advisory Group.

Tease photo

Kearny Mesa Industrial Building Sold for $4.62 Million

An Anaheim-based buyer recorded as Winchester Temecula LLC has acquired a Kearny Mesa industrial property for approximately $4.62 million, according to CoStar Group and public data.

Tease photo

Downtown Office Tower Part of $704 Million Purchase Deal

The downtown San Diego office tower known as First Allied Plaza is part of an 11-property, multi-state portfolio acquisition by the New York State Common Retirement Fund, valued at approximately $704 million.

Tease photo

Bay Club Carmel Valley Completes $3.2 Million Renovation

The Bay Club Co. of San Francisco has completed a $3.2 million renovation of its Bay Club Carmel Valley fitness and spa venue, at 12000 Carmel Country Road.

Local Firm Acquires Georgia Office Buildings for $9.1 Million

Versant Commercial Brokerage Inc. of San Diego has acquired two Georgia office buildings for $9.1 million, the company announced.

San Diego Hotel Tax Hike Backers Switch Focus to November 2016 Ballot

San Diego supporters of an initiative to raise the city’s hotel tax, to fund potential projects including a convention center expansion or Chargers stadium, will delay submission of signatures in order to qualify the measure for the November 2016 ballot, rather than the previously targeted June 2016 election.

Tease photo

County Construction Starts Down 23% through November

San Diego County’s construction starts dropped 23 percent in value from a year ago, totaling approximately $2.87 billion in the first 11 months of 2015, according to the latest monthly figures from Dodge Data & Analytics.

Tease photo

Best Western Hotel in La Mesa Sells for $12.4 Million

Anaheim-based Fortune Hospitality LLC has acquired the 78-room Best Western Plus hotel in La Mesa for $12.4 million, according to CoStar Group and brokerage company Atlas Hospitality Group.

SeaWorld San Diego Files Lawsuit over Coastal Commission Ruling

SeaWorld San Diego has filed a lawsuit challenging a recent California Coastal Commission decision impacting its planned killer whale habitat expansion, reiterating its prior contention that the coastal panel does not have authority to ban the breeding of captive orcas.

San Diego’s NY Tourism Pitch Targets New Year’s Eve Revelers

Before the famous lighted ball drops on New Year’s Eve, many of the 1 million or more celebrants gathered at New York’s Times Square will also take in a pitch for San Diego tourism amid the hoopla.

Tease photo

Passenger Traffic Rises at San Diego International Airport

Passenger traffic at San Diego International Airport rose 7.2 percent from a year ago in the first 11 months of 2015, with more than 18.4 million using the facility, according to the latest data from the San Diego County Regional Airport Authority.

Tease photo

Genentech Buys Oceanside Industrial Building for $2.7 Million

Biotechnology company Genentech Inc. has acquired an Oceanside industrial property for $2.7 million, according to CoStar Group and public data.

Tease photo

Craft Beer Scene Readies to Build on Its Successes of 2015

BREWING: Expansions, Acquisitions and Growth Brought Sector to Next Level

The California Craft Brewers Association recently announced that there are now more than 600 craft breweries across the state, generating $6.5 billion in annual revenue.

Tease photo

Multifamily Still Holds Hot Hand in Commercial Real Estate

PROPERTY: Not Much Office Construction, But Renovations Continue

In 2015, new job creation in San Diego’s high-paying industries, including technology and life sciences, continued to fuel demand for commercial real estate. This played out, for instance, in rising demand for apartments, along with worker-friendly amenities being added at new and old office campuses, and the trends show few signs of slowing down in 2016.

Tease photo

Hospitality Sector Adjusts to Stay Ahead of Possible Changes

HOSPITALITY: Cos. Consolidate, Employ Their Own Innovations

In 2016, San Diego County’s hospitality industry — including operators of 7,000 restaurants and hundreds of hotels — will be looking for a continuation of what has generally been a strong-performing local economy during the past three years.

Tease photo

Tourism Sector’s Momentum Likely Here to Stay

TRAVEL: Possible TOT Initiative Could Change Sector’s Landscape Locally

By several measures, 2015 was a record year for the region’s tourism economy. As the year drew to a close, the San Diego Tourism Authority was projecting that the region would rack up $9.9 billion in spending by visitors at local attractions, shops and restaurants.

Tease photo

La Jolla Retail Building Sells for $2.13 Million

Investor Leslie Gladstone has purchased a retail and restaurant building in La Jolla’s Bird Rock neighborhood for $2.13 million, according to brokerage firm Sperry Van Ness Asset Advisory Group.

Convention Center Projects Record Attendee Spending in 2016

San Diego Convention Center operators are projecting a record $708.1 million in direct attendee spending to be generated from a total of 108 events slated for the facility in 2016.

Tease photo

Industrial Purchase Part of $90 Million Acquisition of Oceanside Firm

An affiliate of Illinois-based Senior Flexonics has acquired five Oceanside industrial buildings for $15 million, stemming from the recently announced $90 million acquisition of seller Steico Industries Inc. by Senior’s U.K.-based parent company, Senior PLC.

Tease photo

Carlsbad Office Property Portfolio Sold for $30.4 Million

An affiliate of San Francisco-based Swift Real Estate Partners has purchased a four-building office portfolio in Carlsbad for $30.4 million, according to CoStar Group and public data.

Tease photo

Downtown’s W Hotel Rebranded as Marriott Renaissance

The owner of downtown San Diego’s W hotel has quietly rebranded the property as a Marriott Renaissance, following a change in management.

Tease photo

Encinitas Medical Office Building Sells for $3.8 Million

Powder Days LLC of La Jolla has acquired an Encinitas medical office building for $3.8 million, according to CoStar Group and brokerage company Lee & Associates.

Skin Products Company Leases Carlsbad Industrial Building

Locally based Coola Suncare, which makes sunscreens and related skin products, has leased 45,500 square feet at a Carlsbad industrial building, in a deal valued at approximately $2.28 million, according to brokerage firm Lee & Associates.

Tease photo

Construction Starts on $20M Affordable Apartment Complex in East Village

Affirmed Housing has broken ground on Cypress, a $20 million, 63-unit affordable apartment complex in downtown San Diego’s East Village.

Tease photo

Harry’s Restaurant Leaving UTC for Bankers Hill in 2016

Harry’s Bar and American Grill, a staple at University Towne Center for more than a decade and a popular gathering spot for local business leaders, will be relocating to Bankers Hill in 2016.

Tease photo

Sorrento Valley Office Property Sells for $17.7 Million

An affiliate of Beverly Hills-based Omninet Capital has purchased the two-building Cornerstone Plaza office property in Sorrento Valley for $17.7 million, according to CoStar Group and public data.

Tease photo

Carlsbad Hotel Owner Obtains $29 Million Refinancing

Owner Wave Crest Resorts of Encinitas has obtained $29 million in refinancing for its Hilton Garden Inn Carlsbad Beach hotel, according to real estate services firm Holliday Fenoglio Fowler (HFF), which arranged the financing.

Tease photo

San Marcos Retail Center Sells for $3.1 Million

Investor Eric Choi of Irvine has acquired a three-building retail property in San Marcos for approximately $3.1 million, according to CoStar Group and public data.

Tease photo

Bosa Buys Downtown Shell Station Property for $8.5 Million

Vancouver, B.C.-based Bosa Development Corp. has purchased a downtown San Diego property currently housing a Shell service station for $8.5 million, according to CoStar Group and public data.

Tease photo

Local Voit Executive Joins New Board as Part of Executive Management Restructuring at Company

Randy LaChance, senior vice president in the San Diego office of Voit Real Estate Services, was recently named to a new board of directors formed as part of an executive management restructuring at the Irvine-headquartered company.

Tease photo

Vista Apartment, Industrial Buildings Get New Owners

Industrial and apartment properties recently changed hands in two separate Vista deals, including the $4.1 million acquisition of a building at Oak Ridge Business Center by Los Angeles-based Heidt Finance LLC, according to CoStar Group.

Civic San Diego Names Robert Avery as New CFO

The executive board of Civic San Diego, the city’s project oversight agency for downtown and targeted southeastern urban neighborhoods, has named Robert Avery as its new chief financial officer.

Tease photo

San Diego Apartment Properties Sell for $30 Million

An affiliate of Palo Alto-based Pacific Urban Residential has acquired a two-property portfolio of San Diego apartment buildings totaling 155 units for $30 million, according to CoStar Group and public data.

Tease photo

San Diego Apartment Properties Sold for $30 Million

An affiliate of Palo Alto-based Pacific Urban Residential has acquired a two-property portfolio of San Diego apartment buildings totaling 155 units for $30 million, according to CoStar Group and public data.

Tease photo

Vista Industrial, Apartment Buildings Get New Owners

Industrial and apartment properties recently changed hands in two separate Vista deals, including the $4.1 million acquisition of a building at Oak Ridge Business Center by Los Angeles-based Heidt Finance LLC, according to CoStar Group.

Civic San Diego Names Avery as New CFO

The executive board of Civic San Diego, the city’s project oversight agency for downtown and targeted southeastern urban neighborhoods, has named Robert Avery as its new chief financial officer.

Page of .