San Diego Business Journal

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Partnership Purchases North Park Apartments for $18.47 Million

A partnership that includes Arc Capital Partners LLC of Los Angeles, Baltimore-based Alex. Brown Realty Inc. and New Standard Equities of Encino has purchased a 132-unit apartment property in San Diego’s North Park neighborhood.

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Kids Free San Diego Offers Opportunity to Explore County's Attractions

San Diego city and tourism officials recently announced the return of Kids Free San Diego, an annual promotion offering visitors and locals family-friendly discounts during the month of October.

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Retail’s Momentum Expected to Keep Pushing Vacancy Rate Down

PROPERTY: Barriers To Entry Are Keeping New Construction Sparse

Growing payrolls and a steady influx of tourists have brought full recovery to San Diego County’s retail industry, though the region is still about a year away from pre-recession sales highs reached at stores and restaurants, according to a recent third-quarter report by the brokerage company Marcus & Millichap Inc.

City of San Diego Finally Moves Many Permit Processes Online

DEVELOPMENT: Firms Say Belated Changes Will Save Time and Money

Facing a rising tide of new development projects heading through the pipeline, the City of San Diego has taken steps to streamline its processing of project permits and plans, moving a large portion of operations online.

Stone Investing $74M in Virginia Brewery, Eatery

Escondido-based Stone Brewing Co. plans to invest $74 million in a new East Coast brewing facility planned for Richmond, Va.

Council Reaches Linkage Fee Compromise

GOVERNMENT: Plan Would Phase in Increase Over 3 Years

San Diego City Council has approved language for a compromise on the controversial issue of commercial linkage fees, with a planned phased-in hike expected to finance more than $30 million in new affordable workforce housing over the next 20 years.

Sustainable Finfish Farm Planned Off San Diego Coast

San Diego-based Hubbs-SeaWorld Research Institute and private equity firm Cuna del Mar LP have filed permits to develop an environmentally sustainable, 5,000-metric-ton finfish farm off the San Diego coast.

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Tourism Leaders Launch Annual ‘Kids Free’ Discount Program

San Diego city and tourism officials recently announced the return of Kids Free San Diego, an annual promotion offering visitors and locals family-friendly discounts during the month of October.

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Partnership Buys North Park Apartments for $18.47 Million

A partnership that includes Arc Capital Partners LLC of Los Angeles, Baltimore-based Alex. Brown Realty Inc. and New Standard Equities of Encino has purchased a 132-unit apartment property in San Diego’s North Park neighborhood.

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Stone Brewing Investing $74 Million in New Virginia Operations

Escondido-based Stone Brewing Co. plans to invest $74 million in a new East Coast brewing facility planned for Richmond, Va.

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San Diego Ranks 24th Globally for Commercial Property Investment

San Diego ranks 24th among the world’s 25 largest markets for commercial property investment dollar volume, according to a report by brokerage company Cushman & Wakefield Inc.

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Chula Vista Retail Property Sells for $21.9 Million

New York-based RREEF Property Trust Inc. has purchased a Chula Vista property housing two big-box retailers for $21.9 million, according to CoStar Group and public data.

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Construction Starts on $100 Million Downtown Hotel

Encinitas-based developer The Robert Green Co. and Montage Hotels & Resorts of Laguna Beach have begun construction on Pendry San Diego, a new 317-room luxury hotel in downtown San Diego’s Gaslamp Quarter.

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Cohn Breaks Ground on $10 Million Restaurant at Harbor Island

Cohn Restaurant Group of San Diego has broken ground on a new restaurant at Harbor Island, with an expected development cost of at least $10 million and set for a spring 2015 opening.

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BBX Capital Acquires Candy Maker The Toffee Box of Carlsbad

BBX Sweet Holdings, a wholly owned subsidiary of Florida-based BBX Capital Corp., has acquired Carlsbad-based candy maker The Toffee Box LLC, for an undisclosed price.

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Miramar Office and Industrial Building Sells for $5 Million

Ingold Family Investments LLC of Fallbrook has purchased a Miramar office and industrial building for approximately $5 million, according to brokerage company Avison Young, which represented the seller.

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El Cajon Apartment Property Sold for $4.35 Million

A buyer recorded as Laurel Village Estates LP has purchased the 41-unit Laurel Village Apartments in El Cajon for $4.35 million, according to CoStar Group and public data.

San Diego City Council Approves Linkage Fee Hike Compromise

San Diego City Council has approved a compromise measure related to the controversial issue of raising linkage fees, charged to developers of commercial projects to finance development of affordable workforce housing.

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Carlsbad Industrial Building Sells for $13.75 Million

An entity recorded as DCT Rutherford LLC has purchased a Carlsbad industrial building for $13.75 million, according to CoStar Group and public data.

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Scripps Ranch R&D Property Sold for $3.7 Million

An entity listed as 9885 Carroll Canyon LLC has purchased a Scripps Ranch office and industrial building for $3.7 million, according to brokerage company Cushman & Wakefield Inc., which represented the seller.

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City Council to Consider New Compromise on Linkage Fees

San Diego City Councilmember Myrtle Cole has proposed a new compromise measure addressing the controversial issue of raising linkage fees paid by developers of commercial projects to support the construction of affordable workforce housing.

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HP Investors LLC Joins Makers Quarter Project in East Village

San Diego-based HP Investors LLC has joined the group of developers planning the mixed-use Makers Quarter project in East Village, buying out the interest of Portman Holdings for an undisclosed price.

Contracts for Future Construction Up 35%

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

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HP Investors Joins Makers Quarter Project in East Village

San Diego-based HP Investors LLC has joined the group of developers planning the mixed-use Makers Quarter project in East Village, buying out the interest of Portman Holdings for an undisclosed price.

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Speculative Projects Are Heading North

BUILDING: The Improving Economy Spurs Industrial Growth

It’s not the start of any expected boom, but three North County cities are now witnessing what has been a nearly nonexistent sight in the region for the past six years: speculative construction of industrial projects.

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Riding The Wave

DINING: Rubio’s Efforts At Rebranding Part of Fast-Casual Competition

Leaders of Rubio’s Restaurants Inc. are taking steps to ensure that the look and feel of its eateries carry elements of the Carlsbad-based company’s DNA.

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Council to Discuss Compromise on Linkage Fee Hikes

San Diego City Councilmember Myrtle Cole has proposed a new compromise measure addressing the controversial issue of raising linkage fees paid by developers of commercial projects to support the construction of affordable workforce housing.

Mixed-Use Residential Project Planned for East Village

Alliance Realty Partners LLC has proposed a new mixed-use residential project with 269 dwelling units in downtown San Diego’s East Village neighborhood.

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San Diego Boosts Online Access to City Project, Contracting Data

The City of San Diego has overhauled processes for accessing information from its development services and purchasing and contracting department, providing for more online access.

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Organic Restaurant Café Gratitude Coming to Little Italy

Café Gratitude, which operates organic and vegan restaurants in the Los Angeles and San Francisco Bay areas, plans an early 2015 opening in downtown San Diego’s Little Italy.

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County Contracts for Future Construction Up 35 Percent Through August

Contracts for future construction in San Diego County rose 35 percent from a year ago in the first eight months of 2014, with a value topping $3.1 billion, according to the latest data from McGraw Hill Construction.

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Century-Old Downtown Apartment Building Sells for $3.3 Million

A buying entity recorded as Matmo Ents Inc. has purchased a 104-year-old apartment building in downtown San Diego for $3.3 million, according to CoStar Group and public data.

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Otay Mesa Apartments Sold for $150 Million

Partnerships controlled by San Diego-based R&V Management Corp. have acquired the 644-unit Greenfield Village apartment community in Otay Mesa for $150 million, according to Cushman & Wakefield Inc.

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Excel Trust Buys Three Utah Retail Properties for $223 Million

San Diego-based Excel Trust Inc. has purchased a portfolio of three Utah retail centers for approximately $223 million, according to the parties and brokerage company involved.

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Developers Plan Pacific Highlands Apartments after $17.5 Million Land Deal

San Diego-based Wermers Properties and R&V Management Corp. have partnered to acquire 7.4 acres of land near Carmel Valley for $17.5 million, with plans to develop a new apartment community.

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Westcore Buys Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

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Belching Beaver to Turn a Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

Local Health Care Office Space Demand Remains Uncertain

PROPERTY: Climate Could Change as Sector Settles in With Reforms

An aging population and expanded insurance coverage are raising demand for health care services, but the exact demand picture for medical offices — in terms of size, format and location — still hasn’t come fully into focus in San Diego County.

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Plan Aims to Keep Conventions Coming to Town

TOURISM: Extra Efforts Needed as Expansion of Center Hits Roadblock

Facing recent declines in overall convention attendance and the likelihood that an expansion won’t happen anytime soon, local tourism officials have launched a five-year plan to fill San Diego Convention Center with large group gatherings.

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Wave of Development Hitting The Village

PROPERTY: Diverse Mix Of Projects Set for La Jolla

Property by property, La Jolla’s central Village area is being remade as several older buildings get new owners who are now making plans for upcoming townhomes, stores and restaurants, a performing arts center and a luxury movie theater.

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Belching Beaver Converting Vista Bank Building into Brewpub

Vista-based craft beer maker Belching Beaver Brewery Inc. plans to convert a former bank location into a new brewpub in that city, after purchasing the building at 302 E. Broadway for $1.35 million.

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Westcore Purchases Otay Mesa Industrial Property for $6.7 Million

Westcore Properties of San Diego has purchased an Otay Mesa industrial building for $6.7 million.

Partnership Plans $26 Million Industrial Park Project in Oceanside

Developer McDonald Property Group of Newport Beach has joined in a partnership to develop a 15.8-acre, $26 million industrial project in Oceanside.

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Carlsbad Property Housing TaylorMade Headquarters Sells for $23.5 Million

Regent Properties of Los Angeles has purchased a two-building Carlsbad property that includes the headquarters building of golf equipment maker TaylorMade-adidas for approximately $23.5 million, according to brokerage company Cassidy Turley.

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Rubio’s Remodeling, Rebranding Some of its Restaurants

Carlsbad-based Rubio’s Restaurants Inc. plans a redesign of 60 of its California restaurants, with a rebranding of those locations under the name Rubio’s Coastal Grill.

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Jamul Retail Center Sells for $3.8 Million

Developer Dan Floit of Del Mar has purchased Plaza La Tienda, a two-building retail property in the East County community of Jamul, for $3.8 million, according to CoStar Group and public data.

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Grocery Outlet Plans Store Opening in Chula Vista

Discount retailer Grocery Outlet plans an Oct. 2 opening at 1340 3rd Ave. in Chula Vista. It will be the 10th San Diego County location for the Emeryville-based company, with more local stores in development.

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Blaze Pizza Plans Two Local Openings in October

Pasadena-based Blaze Fast-Fire’d Pizza, a fast-casual restaurant chain that makes custom-made pies baked in high-temperature ovens, plans two San Diego County openings in October, bringing its total to three locations in the region.

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REIT Buys Four San Diego Office Buildings for $21.8 Million

Bixby Land Co. of Irvine has purchased four San Diego office buildings, in deals totaling $21.8 million, with plans for more than $16 million in renovations.

North Park Land Sold for $7.7 Million

TR Hale LLC has purchased a 1.5-acre parcel of land in North Park for $7.7 million, with plans to develop an upscale, mixed-use apartment project, according to brokerage company Colliers International.