San Diego Business Journal


Carlsbad Lagoon Project Opponents Submit More than 9,000 Signatures

Carlsbad opponents of a controversial lagoon-adjacent development have delivered referendum petitions with 9,074 signatures to the city clerk, in a bid to have City Council’s recent approval of the project overturned or placed before voters.

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Coastal Panel Staff Recommends Approval of SeaWorld Whale Habitat Project

The staff of the California Coastal Commission has recommended conditional approval of SeaWorld San Diego’s proposed $100 million expansion of its killer whale habitat, called Blue World. SeaWorld officials are scheduled to present the project to the commission at its Oct. 8 meeting.

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Struggling Grocer Haggen Plans to Exit Pacific Southwest Market

Struggling grocery chain Haggen Food & Pharmacy plans to exit the Pacific Southwest market and realign its operations around 37 core stores and one stand-alone pharmacy in its original home base of the Pacific Northwest.

UCSD Reports $177.5 Million in Fundraising

The University of California, San Diego said it hit record fundraising totals this year, garnering $177.5 million as well as a $100 million donation from the Rady family to fund an endowment for the university’s business school.

Millennium Health Reportedly Reaches Settlement with Government

Millennium Health, the nation’s largest drug-testing company, is finalizing plans to pay the U.S. Department of Justice $275 million to settle a probe over its billing practices and hand over control of the company to lenders in bankruptcy proceedings, Bloomberg reported Sept. 23.

MediaTek Chip Replaces Qualcomm's in Amazon Product

Taiwan-based MediaTek said on Sept. 17 that its processor powers the latest Amazon Fire TV streaming box, as well as the Fire HD 8 and Fire HD 10 tablets, which go on the market between Sept. 30 and Oct. 5.

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Downtown Land Parcels Sold for $4.4 Million

A partnership recorded as 3500 5th LP has acquired two contiguous land parcels in downtown San Diego’s East Village for $4.4 million, according to brokerage company Colliers International.

Scripps Is First Local Provider to Implant New Defibrillator That Is Compatible With MRIs

Scripps Health in San Diego County says it’s the first local provider to offer an implantable cardioverter defibrillator (ICD) device approved for use with MRI scans.

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Grant Hill Multifamily Portfolio Sold for $2.1 Million

H Street Plaza LLC of San Diego has purchased a 16-unit multifamily property portfolio in San Diego’s Grant Hill neighborhood for $2.1 million, according to brokerage firm ACRE Investment Real Estate Services.

GA-ASI Awarded $47.5 Million Army Contract

The U.S. Army awarded General Atomics Aeronautical Systems Inc. a $47.5 million contract modification that pays for engineering changes to the Army’s improved Gray Eagle unmanned aircraft.

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BioMed Shares Rise Sharply After Report of Possible Sale

San Diego’s BioMed Realty Trust Inc. was among the biggest movers on the New York Stock Exchange on Sept. 23, after a media report that the company is exploring a sale.

New Life Science Firm Raises $15 Million in Equity Financing

A local pharmaceutical company founded by life science veteran Cam Gallagher has raised $15 million in equity financing, according to a recent filing with the Securities and Exchange Commission.

Report: Local Medical Office Space Tightening

San Diego County’s medical office supply continues to tighten, as care providers seek opportunities to upgrade or expand their spaces, according to a new report by commercial real estate brokerage company JLL.

Bridge Bank Launches Life Sciences Group

Bridge Bank announced Wednesday the launch of a new banking group to be based in San Diego – Life Sciences Group (LSG) – which will offer customized financial solutions to companies operating in the life sciences sector.

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Gafcon Launches Transportation Services Division

San Diego-based construction management firm Gafcon Inc. has launched a new transportation division, to include federal, state and local transportation projects.

Kratos to Repurchase $175 Million Worth of Bonds

Kratos Defense & Security Solutions Inc. announced on Sept. 22 that it accepted $175 million worth of bonds for repurchase.

Northrop Grumman Signs 21-Year Deal with Norway Company

The supply chain for advanced military electronics stretches from San Diego back to Norway.

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Lakeside Apartments Sold for $6.35 Million

San Diego-based Haliburton Plaza Investments has acquired the 54-unit Magnolia Terrace Apartments in Lakeside for approximately $6.35 million, according to brokerage firm The Heritage Group.

Ann Pickren Promoted to President at MIR3 Inc.

San Diego-based MIR3 Inc., which makes mass notification software for corporate clients, said Tuesday it was promoting its chief operating officer to become its president.

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Local Hotels Make Key Executive Hires

New executive management appointments were recently announced at hotels in San Diego, Carlsbad and Coronado.