San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Fast Forward to Produce Central Coast Culinary Event

San Diego-based Fast Forward Event Productions has been chosen by Visit San Luis Obispo County to produce “Sunset: Savor the Central Coast,” a culinary and wine event featuring celebrity chefs.

Denovo Biopharma Gets Exclusive Drug License from Eli Lilly

Denovo Biopharma LLC has exclusively licensed a previously failed late-stage neuroscience drug from global pharma firm Eli Lilly and Co., according to a recent news release.

Vibra Earns a Top Ranking for Its SBA Lending in Local District

Vibra Bank said that it has been recognized as the No.1 “small size” SBA 7(a) lender for all of 2014 by the San Diego District Office of the U.S. Small Business Administration.

Sotera Wireless Acquires Reflectance Medical

Sotera Wireless, the Mira Mesa-based medical device company, said on Feb. 25 that it acquired Reflectance Medical Inc. of Westborough, Mass. for undisclosed terms.

Scripps Health Acquires San Diego OB-GYN Medical Group

San Diego OB-GYN Medical Group in Hillcrest has joined Scripps Clinic Medical Group, according to a recent news release. The agreement creates the 14th Scripps Clinic location in San Diego County.

Holiday, Poinsettia Bowls Generated Over $35 Million for Region, Study Finds

San Diego’s two postseason college football games combined to produce an economic impact of $35.3 million for the local region in 2014, up nearly $5 million from the previous year, according to a study conducted by the San Diego State University Center for Hospitality and Tourism Research. The annual games are organized by the San Diego Bowl Game Association.

LPL Financial Appoints Dan Arnold President

LPL Financial LLC, a custodian for registered investment advisors, and a wholly owned subsidiary of LPL Financial Holdings Inc., announced that it has named current chief financial officer Dan Arnold to the role of president effective March 13.

General Dynamics Nassco to Start Work on First of Five Tankers

General Dynamics Nassco plans to lay the keel of its first ECO tanker for American Petroleum Tankers with a ceremony Friday at its Barrio Logan shipyard.

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San Diego Office and Industrial Building Sells for $2.45 Million

Locally-based Sasa Group LLC has purchased an office and industrial property in the Mt. Hope area of southeast San Diego for $2.45 million, according to brokers handling the transaction.

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El Cajon Apartment Property Sold for $2.6 Million

Carlsbad Garden Apartments LLC has purchased the 20-unit Sierra Vista Apartments in El Cajon for approximately $2.6 million in an all-cash transaction, according to Marcus & Millichap Inc., which handled the deal.

Carlsbad Land for Potential Residential Project Sells for $4.15 Million

Developer Integral Communities of Newport Beach has purchased a 10.46-acre land parcel in Carlsbad for $4.15 million, with plans for a 200-unit multi-family residential project, according to brokerage company Lee & Associates, which represented the buyer.

Qualcomm Unveils Snapdragon 820 Processor

Qualcomm Inc. unveiled its newest top-of-the-line processor, the Snapdragon 820, at Mobile World Congress in Barcelona, Spain, saying that samples of the chip will be available to device manufacturers during the second half of 2015.

West Consultants Awarded Army Contract Worth Up to $9.5 Million

The U.S. Army said on March 2 that it awarded a five-year engineering contract to West Consultants Inc., a small business in San Diego.

General Atomics Teaming With Spanish Engineering Firm

Opening the door to potential sales to Spain, General Atomics Aeronautical Systems Inc. announced on March 2 that it is teaming up with SENER, a Spanish engineering firm, to make its Predator B unmanned aircraft available to the government of that European country.

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Alpine Medical and Office Building Sells for $6 Million

A buyer recorded as Alpine Regional Center LLC has purchased a multi-tenant medical and office building in Alpine for $6 million, according to brokerage company CBRE Group Inc., which represented the buyer and seller.

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Downtown Sheraton Suites Hotel Sells for $50 Million

An affiliate of Maryland-based Marriott International Inc. has acquired the 264-room Sheraton Suites San Diego hotel in the downtown area for approximately $50 million, according to CoStar Group and public data.

Isis Receives $15 Million Milestone Payment from GlaxoSmithKline

Isis Pharmaceuticals Inc. announced Monday that it has earned a $15 million milestone payment from GlaxoSmithKline Plc.

Mast Therapeutics Releases Results of Heart Failure Treatment

Mast Therapeutics Inc., a clinical stage biopharma company, has released results from a nonclinical study testing the drug vepoloxamer for the treatment of heart failure.

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Marketing Agency Piston Acquired by LEWIS PR

LEWIS PR, a global communications agency, has acquired Piston, a full-service digital agency based in San Diego.

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Downtown Residence Inn Sells for $90 Million

Chatham Lodging Trust of Palm Beach, Fla., has purchased the 240-room Residence Inn San Diego Downtown hotel for $90 million, according to CoStar Group and public data.