San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

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Imperial Beach Site of Planned Hotel Acquired for $5.5 Million

Imperial Beach Resort LLC has purchased an Imperial Beach parcel for $5.5 million, with plans to develop a 79-room boutique hotel, according to brokerage company Lee & Associates, which handled the transaction.

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San Diego Apartment Property Sells for $2.74 Million

A 24-unit apartment property in San Diego’s Lincoln Park subdivision has been sold for approximately $2.74 million, according to brokerage company Marcus & Millichap Inc., which represented the buyer and seller.

Teradata Corp. Completes Acquisition of RainStor

Teradata Corp., an Ohio-based public company with about 1,000 employees in Rancho Bernardo, said it completed the acquisition of RainStor, a business specializing in online big data archiving.

Royal Philips NV Buys Volcano Corp. for $1 Billion

Royal Philips NV agreed to buy San Diego-based Volcano Corp. for $1 billion to expand in catheter-based imaging of the heart and blood vessels as part of a wider refocus on more profitable markets, such as medical gear.

Three Investors Contribute $2 Million to EdgeWave Inc.

San Diego-based EdgeWave Inc., which makes cyber security software, said on Dec. 17 that three investors contributed $2 million more to the company’s series A funding round. EdgeWave is pulling together funds to expand the company.

Cubic Corp. Acquires DTECH LABS for $114.5 Million

Cubic Corp. said on Dec. 16 that it acquired DTECH LABS Inc., a Virginia company specializing in radio technology for military, government and commercial customers, for as much as $114.5 million.

Northrop Grumman Sells 4 Aircraft to South Korea for $657 Million

Northrop Grumman Corp. sold four Global Hawk unmanned reconnaissance aircraft to South Korea for $657 million.

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Red O Restaurant to Replace Donovan’s at UTC Office Campus

Red O, an upscale restaurant with Mexican-style cuisine led by celebrity chef Rick Bayless, plans a 2016 opening at Irvine Co.’s The Plaza office campus in University Towne Center.

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Four City Heights Apartment Buildings Sold for $4.23 Million

Four apartment buildings totaling 30 units in San Diego’s City Heights neighborhood have been sold for $4.23 million, according to brokerage company ACRE Investment Real Estate Services, which represented the seller.

Applied CleanTech Says UK Pilot Project Promising

Applied CleanTech, a company developing a sewage recycling technology in San Diego, announced promising results of a pilot project conducted with Scottish Water.

Business Confidence Rose in November, Index Finds

A Business Outlook Index for San Diego, a measure of local business confidence prepared for the San Diego Regional Chamber of Commerce, increased 2 points in November over the prior month to 26.8, led by a hefty rise from businesses in the cyber security industry.

Rock My World Adds New Feature to Music App

Downtown-based Rock My World has trotted out a new feature on its RockMyRun music app for iPhones — one that plays tunes in synch with a listener’s heartbeat.

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Steve Martin Appointed CFO of Applied Proteomics Inc.

Applied Proteomics Inc., a San Diego-based developer of protein-based molecular diagnostics, announced the appointment of Steve R. Martin as chief financial officer.

Santa Ysabel Tribe Ordered to Shut Down Online Bingo Operation

A federal judge ordered the Iipay Nation of Santa Ysabel to shut down its Internet bingo operation.

Biocept Inc. Granted Patent by South Korea

San Diego-based Biocept Inc., a molecular oncology diagnostics company, announced that it has been granted a patent in South Korea for its microfluidic channel technology used to capture circulating tumor cells.

Army Awards General Atomics $114.6 Million Contract Modification

The U.S. Army said on Dec. 15 that it awarded a contract modification worth $114.6 million to General Atomics Aeronautical Systems Inc.

Median Home Price in November Was $430,000

The median price for houses sold last month in San Diego County was $430,000, down 2.2 percent from October, but up 3.6 percent from November 2013, according to the most recent CoreLogic Dataquick real estate report.

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Oceanside Residence Inn Hotel Getting $2 Million Renovation

Operators of Residence Inn San Diego Oceanside have begun a $2 million renovation of the 125-room property at 3603 Ocean Ranch Blvd. in Oceanside.

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Downtown San Diego Office Building Sells for $18.5 Million

Bosa Development of Vancouver, B.C., has acquired the downtown San Diego office building at 1620 Fifth Ave. for $18.5 million, according to the seller, locally based Douglas Wilson Cos.

Murata Electronics Completes $471 Million Purchase of Peregrine

Peregrine Semiconductor Corp., the San Diego maker of chips found in wireless devices and networks, completed its sale to Japan-based Murata Electronics North America Inc. in an all-cash transaction valued at $471 million.