San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

When it Rains, It Pours: Apple Now Reportedly Suing Qualcomm

Apple Inc. has reportedly sued Qualcomm Inc. for $1 billion, according to published reports.

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These Were 2016’s Biggest Retail Property Deals

With new construction scarce and empty store spaces quickly being filled, San Diego County’s retail property vacancy rate keeps getting lower – 3.8 percent at the end of 2016, according to a recent report by CoStar Group.

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Fallbrook Apartment Complex Sold For $3.57M

DiPiero Family Trust of Escondido has acquired a 25-unit apartment property in Fallbrook for approximately $3.57 million, according to brokerage firm Lee & Associates.

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Southwest Airlines Adding Mexico Flights to Local Offerings

Discount carrier Southwest Airlines Co. plans an April 25 launch for new direct service between San Diego and Mexico’s San Jose del Cabo and Los Cabos.

Business Calendar for Week of January 23, 2017

Some of the business events scheduled in the county for the week of January 23, 2017, and beyond.

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University of San Diego Names Managing Director of Supply Chain Management Institute

The University of San Diego’s business school has named Mary Long managing director of its Supply Chain Management Institute.

Air Force Awards Northrop Grumman Contract Worth $140 Million

On the heels of a similar award in December, the U.S. Air Force awarded Northrop Grumman Corp. a modification to its contract covering Northrop’s Battlefield Airborne Communications Node payload, operations and support. The award is not to exceed $140 million and work runs through January 2018.

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Illinois Firm Buys San Marcos Retail Center for $73.3 Million

Illinois-headquartered InvenTrust Properties Corp. has purchased the Campus Marketplace retail center in San Marcos for approximately $73.3 million, according to CoStar Group and brokerage firm Lee & Associates.

SDSU Alumnus Hired to Operate Consulting Firm's SoCal Office

The Center for Toxicology and Environmental Health, a consulting firm based in Little Rock, Ark., has opened a Southern California office in Carlsbad and has hired a San Diego State University alumnus to run it.

Protests Aimed at Inauguration May Restrict Border Crossings

Mexico’s customs service expects to limit some border crossings, including shipments of goods, Jan. 20 because of nationwide protests aimed at President-elect Donald Trump.

Seacoast Commerce Bank Posts 26th Consecutive Quarterly Profit

San Diego-based Seacoast Commerce Bank earned $6.9 million in net income in 2016, a 19.6 percent increase over the $5.8 million it earned in 2015.

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La Mesa Apartment Property Sells For $19 Million

Vista Investment Group LLC of Los Angeles has acquired an 80-unit La Mesa apartment community for approximately $19 million, the company announced.

Cytori Therapeutics Acquires San Antonio-Based Pharma Co.

Local cell therapy company Cytori Therapeutics Inc. is acquiring San Antonio-based Azaya Therapeutics for up to $170 million.

Prof to Trump: 'Train of Economic Globalization Has Left the Station'

A UCLA economics professor told an audience in downtown San Diego that Donald Trump’s proposed policies on trade and immigration give him “really, really low” chances of delivering on his promise to create 25 million U.S. jobs during the next 10 years.

Shareholder Law Firms Add to Tech Giant’s Woes

There seems to be no rest for Qualcomm Inc. After being sued by the federal government, small law firms piled on to give it more headaches.

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Roger M. Laverty Named President of Grandpoint Bank

Grandpoint Bank, of which La Jolla-based Regents Bank is a division, has named Roger M. Laverty as president.

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Miramar Office-Industrial Property Sells for $4.1 Million

San Diego investors Peter and Pattiann Aardema have acquired a Miramar office and industrial property for $4.1 million, according to brokerage firm Pacific Coast Commercial.

Synthetic Genomics Inks Research Deal With Exxon

U.S. oil giant Exxon Mobil Corp. has renewed a deal with local biotech Synthetic Genomics Inc. to jointly research algae biofuels.

FDA Grants aTyr Pharma Fast-Track Status

Shares of drugmaker aTyr Pharma climbed over 30 percent Wednesday following news that the San Diego firm’s drug should progress quickly through the regulatory process.

Coldwell Banker Commercial Taps Brown to Lead San Diego Office

Coldwell Banker Commercial Southern California has hired Rhyne Brown to serve as executive managing director for the company’s San Diego regional operations.