| San Diego Business Journal

Boutique Hotel Wins Int'l Design Award

Real Estate: $30M Monsaraz Hotel Debuts in Point Loma

Point Loma’s new Monsaraz Hotel has won an international award for its design, which is meant to reflect the Portuguese heritage of its neighborhood.

Terry Tallen Joins Homer Hoyt Institute

REAL ESTATE: Honor Caps Stellar Career

Terrence “Terry” Tallen has been inducted into the prestigious Homer Hoyt Institute as a Hoyt Professional Fellow.

San Diego Apartment Rents Soaring

Monthly apartment rents in San Diego have shot up by 20.3% over the past year with more hikes likely, although the pace of the increases may slow, according to Apartment List, an online listing services.

Carlsbad Industrial Building Sold for $19M

LPC West, the West Coast arm of national real estate firm Lincoln Property Company, in a joint venture with the firm of firm Angelo Gordon, has acquired a single-story industrial building located in Carlsbad for $19 million.

El Cajon Apartment Building Sold

An El Cajon apartment building has been sold for nearly $9.8 million. The building has 31 apartments in a mix of one-bedroom and two-bedroom units.

Design Firm Expanding Multifamily Work with New Owner

Design: Tobia Acquires FS Design Group

Amy Tobia has acquired the Mission Valley interior design firm – FS Design Group – after working as the firm’s senior project manager for the past 10 years.

Bay Ho Shopping Center Sold for $3.9M

Bay Ho Shopping Center has been sold for $3.9 million. The 14,592 square-foot shopping center, 4011-4033 Avati Drive, was sold by Zealot & Company Limited, a Hong Kong corporation.

Ruby Awards Go to Affordable Housing Projects

An East Village apartment tower built by Father Joe’s Villages in partnership with Chelsea Investment Corp. and a Southcrest apartment project by Community Housing Works received Ruby Awards from the San Diego Housing Federation as construction projects of the year.

BXNG Club Expands to Solana Beach; More Locations to Come

FITNESS: Local Gym Owner Opens ‘Flagship’ Facility

The BXNG Club, which is based in East Village, is opening a 17,000-square-foot gym in Solana Beach with plans to open an additional club in Rancho Bernardo later this year and one in Los Angeles in 2023.

Work Begins on $950M Water Plant

UTILITIES: Project to Serve East County

Construction has started on a $950 million water purification plant in Santee that will provide enough drinking water to serve an estimated 500,000 people and businesses in East County.

Financing Secured for Vista Apartment Building

Marcus & Millichap Capital Corp. has arranged $8.1 million in financing for a Vista apartment building.

Harvest Strives to be a Different Law Firm

A group of lawyers from San Diego, Los Angeles, San Bernardino, Boston and New York have formed a new commercial real estate practice – Harvest - headquartered in Del Mar Heights and Los Angeles.

Investment Firm is Bullish on San Diego Market

MG Properties, based in Sorrento Valley, has been especially active of late in scooping up California apartment complexes and is turning its attention in 2022 closer to home.

Mission Valley Office Building Sold

A Mission Valley office building has been sold for $5.1 million. A Perfect Pear, LLC bought the 21,980 square-foot building at 2555 Camino Del Rio South.

Entos Pharma Moves into Torrey Pines Life Science Campus

BIOTECH: San Diego Now Canadian Firm’s US HQ

A Canadian pharmaceutical company – Entos Pharmaceuticals – has moved its U.S. operations to a Torrey Pines life science campus after starting them in a nearby incubator.

$457M Mission Valley Apartment Project Expanding

REAL ESTATE: Fourth Building to Break Ground in 2023

Holland Partner Group has finished and started leasing apartments in its latest addition to The Society, a $457 million Mission Valley apartment project that has 695 apartments in three buildings with a fourth building set to start construction in 2023.

Investment Firm is Bullish on San Diego Market

MG Properties, based in Sorrento Valley, has been especially active of late in scooping up California apartment complexes and is turning its attention in 2022 closer to home.

Tower 16 Sells Apartment Complex

Tower 16 Capital Partners based in Encinitas has sold a Phoenix-area apartment project for $32.1 million – more than double what the investment firm paid for the property in 2019.

Brixton Capital Buys Utah Shopping Center

Brixton Capital, a real estate investment firm based in Solana Beach, bought a 149,922 square-foot shopping center in American Fork, Utah for an undisclosed price.

Point Loma Apartment Building Sold

A Point Loma apartment building, Nimitz Crossing, has been sold for $30 million. The property is at 3903 Voltaire St.

Vista Industrial Building Leased

A Vista industrial building has been leased for $13.5 million. The 134,299 square-foot building at 2340 Cousteau Court was leased by Aptera Motors Corp.

Online Gardening a Hit for San Diego Company

RETAIL: Lively Root Gets $4M to Grow

A San Diego horticulture company that sells plants online – Lively Root – has received $4 million from investors to help the company grow.

Emily Watkins Named Chief Client Officer Americas of New York Firm

Emily Watkins has been named Chief Client Officer Americas of The Instant Group, a New York-based digital marketplace for flexible workspace listing meeting rooms, virtual offices, flexible office space and coworking memberships.

Miramar Industrial Building Sold for $17.3M

Encinitas-based Stos Partners in a joint venture with Boston-based Long Wharf Capital has sold a Miramar industrial building to EverWest Real Estate Investors for $17.3 million.

Perkins & Will, The Miller Hull Partnership Win Top Design Awards

Two architectural firms with offices in San Diego – Perkins & Will and The Miller Hull Partnership - won top honors for their San Diego projects from the local chapter of the American Institute of Architects.

Creating a Legacy of Her Own

REAL ESTATE: Tami Barnhart-Reese Builds Relationships

As the daughter of a prominent San Diego developer, it came as no surprise to those who know her when Tami Barnhart-Reese became the president of her own construction company – Barnhart-Reese Construction, Inc.

Point Loma Building Sold

A Point Loma office and retail building has been sold for nearly $3.2 million. Willis Allen Real Estate is the anchor tenant.

Solana Beach Office Building Sold

A Solana Beach office building has been sold for $18 million. The Plaza at 505, 505 Lomas Santa Fe Drive, was sold by Beckman Properties to the Lansing Companies.

Pelican Cove Sold

A Carlsbad bed-and-breakfast inn – The Pelican Cove - has been sold for $4 million. The property at 320-330 Walnut Ave. was bought by 320 Walnut Ave., LLC.

Element Biosciences Moves into New Sorrento Mesa HQ

BIOTECH: Facility Consolidates Company’s Operations

A biotech company that specializes in making DNA sequencing devices, Element Biosciences, has moved to Alexandria Tech Center in Sorrento Mesa.

Film Studio Putting Rainbow on the Map

ENTERTAINMENT: Movie Making Comes to North County

A former caterer, David Biber, has built a film studio on a five-acre ranch – Hidden Oaks Ranch & Studio - in the North County community of Rainbow.

Affordable Housing is His Family’s Business

REAL ESTATE: Jimmy Silverwood Becomes President at Affirmed Housing

Jimmy Silverwood figures he was born into the business he will take over as president of Affirmed Housing. Silverwood’s father started the company in 1992. “I grew up on tractors at job sites,” Silverwood said.

San Diego Tops in Office-to-Lab Conversions

San Diego is the second busiest region in the country when it comes to converting traditional office space to life science labs, according to a report by the commercial real estate brokerage CBRE.

Vintage La Jolla Hotel Gets a Makeover

REAL ESTATE: Oceanic Enterprises Completes $4.5M Renovation

A La Jolla hotel has undergone a $4.5 million renovation by Oceanic Enterprises, giving it an art deco flavor along with a new name.

3 Roots Officially Opens, Nearly 600 Homes Already Sold

Developers of the expansive 3 Roots residential project in Sorrento Mesa are just now officially opening the community despite having sold nearly 600 homes since construction started last summer.

Travel Nurses Ease Critical Hospital Demand

HEALTHCARE: ‘Heroes in the Hotspots’

Demand for traveling nurses has slackened since the peak of the COVID-19 pandemic but staffing companies that represent the nurses said the demand remains high with far more openings than nurses to take them.

Home Prices Reach a Mind-Blowing $1M

The median price of a single-family home in San Diego County reached $1 million in April, according to the Greater San Diego Association of Realtors.

Pacific Beach Apartments Sold

A pair of Pacific Beach apartment buildings have been sold for $8 million.

Chula Vista Apartment Project Sold

A Chula Vista apartment complex has been sold for nearly $2.9 million.

Little Italy Building Sold

A Little Italy apartment and office complex has been sold for nearly $3.2 million. Ali Hasoun bought the two-story complex at 720 and 722 W. Juniper St.

New York Investment Firm Ups Office Investments in San Diego

A New York real estate firm is so confident in San Diego’s appetite for office space that it has bought two buildings in the past three months with more to come.

El Cerrito Apartment Building Sold

An El Cerrito apartment building has been sold for $3.1 million. WSC Investment Partners, LLC bought the building at 4526-28 56th St.

South County in Midst of Development Boom

REAL ESTATE: $1.35B Bayfront Project is Centerpiece

South County is in the midst of an economic boom that shows no signs of easing, although rising interest rates have caused a few jitters.

Prometheus Moves to Torrey Pines

BIOTECH: Rapid Growth Follows IPO

Prometheus Bioscience has moved into nearly 28,000 square feet of lab and office space at The Muse, a 180,000-square-foot life science campus in Torrey Pines.

$32.5M Bird Rock Home Adapts Las Vegas Style to Coastal Site

REAL ESTATE: ‘Ora’ is a Work of Living Art

A Las Vegas design and development firm has brought its Vegas-style with a wide-open look and feel to San Diego with a cliff-side waterfront home listed for a gasp-worthy price of $32.5 million.

Clairemont Mesa Apartment Complex Sold

A Clairemont apartment complex has been sold for $21.7 million. Named Elivia, the complex at 5385 Clairemont Mesa Blvd. was acquired by Equity Street Capital.

CB Therapeutics on the Move

REAL ESTATE: Biotech Builds New 16K SF Headquarters

The story of a successful company starting out in someone’s garage has become so hackneyed it’s hard to believe anymore. Believe it in the case of CB Therapeutics.

Ray Huard

Reporter

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