San Diego Business Journal

SD BUSINESS JOURNAL DAILY ENEWS

Qualcomm Sets Up New Division Dedicated to Data Center Space

Qualcomm Inc. announced on Aug. 18 that it plans to market its data center chips under the name Qualcomm Centriq. It also said that it has set up a new business division, Qualcomm Datacenter Technologies Inc., dedicated to the data center space.

ALTA Environmental Opens Second S.D. Office in Oceanside

A Long Beach-based project engineering firm, ALTA Environmental, has opened an office in Oceanside.

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Construction Begins on $57M Oceanside Townhome Development

San Diego-based Cornerstone Communities and Presidio Residential Capital recently began construction on Brisas at Pacific Ridge, consisting of 117 two-story triplex townhomes in Oceanside. A statement from developers said the for-sale project will have a retail value of more than $57 million at completion.

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Totaro Named GM of San Diego Convention Center

Karen Totaro has been named senior vice president and general manager of San Diego Convention Center, effective Sept. 30. Totaro most recently served as general manager for the Atlantic City Convention Center in New Jersey.

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Randy Frisch Gets New National University System Post

National University System Vice Chancellor Randy Frisch has been named president of City University of Seattle, the school announced.

Illumina Reportedly Receives $30 Billion Takeover Offer from Thermo Fisher Scientific

San Diego medtech giant Illumina Inc. is said to have received a $30 billion takeover offer from global firm Thermo Fisher Scientific.

Avelas Biosciences Secures $20 Million in Financing Round

San Diego startup Avelas Biosciences has landed $20 million in a Series C round to develop its fluorescent technologies for cancer treatments.

Cisco Systems Says It Will Cut 5,500 Employees

Cisco Systems Inc. plans to eliminate up to 5,500 positions, or 7 percent of its global workforce, in a companywide restructuring, the Silicon Valley company said Aug. 17 when it announced fourth quarter earnings.

MabVax Therapeutics Announces Uplisting to Nasdaq

San Diego’s MabVax Therapeutics Holdings Inc. is uplisting to the Nasdaq from the OTCQB market, as well as selling $8.6 million in a public equity offering.

Cape Rey Carlsbad Resort Gets New Management

Atlanta-based Davidson Hotels & Resorts has been hired to manage the 215-room Cape Rey Carlsbad, an upscale Hilton resort located at 1 Ponto Road.

Blue Shield of California to Close Operations for Four Days

Health insurer Blue Shield of California plans to shut down most of its operations during the four days after Labor Day as a way of coping with what it calls the unsustainable situation of providing coverage for subscribers at prices “well below” its costs.

Histogen Inc. Receives $6 Million Investment From Chinese Firm

San Diego’s Histogen Inc., a regenerative medicine company, has received a $6 million private equity investment from China-based Pineworld Capital Ltd. for the development of Histogen’s hair growth program.

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San Diego Apartment Complex Sells for $7.45 Million

A San Diego buyer recorded as East Eight LLC has acquired a 36-unit apartment property in the city’s Grantville neighborhood for $7.45 million, according to brokerage firm CBRE Group Inc.

Majority of Region's Businesses Say Housing Costs Are Too Expensive

More than 90 percent of San Diego-area businesses believe the region’s housing has become too expensive, and most think more residences should be built, according to survey results released Wednesday.

BAE Systems Ship Repair Leases 100,000 Square Feet in Chula Vista

Driven by the U.S. Navy’s plan to station more ships in San Diego and its own plans to grow, BAE Systems Ship Repair recently leased more than 100,000 square feet of new space in the South Bay.

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Green Flash Brewing Plans November Opening for Virginia Facility

San Diego-headquartered Green Flash Brewing Co. has announced a Nov. 13 public opening for its new East Coast production facility and tasting room in Virginia Beach, Va. Fund-raising and related events are slated for the grand opening, and the company’s beers will officially start shipping from the new facility on Jan. 1, 2017.

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County’s Hotel Property Deal Volume Declined in First Half

San Diego County’s hotel property transaction volume declined 38 percent from a year ago in the first half of 2016, with the dollar volume down 65 percent, according to a recent mid-year report by brokerage and consulting firm Atlas Hospitality Group.

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Foley Named Executive Director of ULI’s San Diego-Tijuana District

Heather Foley has been named executive director of the Urban Land Institute’s San Diego-Tijuana District Council, the organization announced.

eSUB Construction Software Hires Chief Technology Officer

eSUB Construction Software, a San Diego software-as-a-service company that offers subcontractors a mobile platform for project management, recently announced it has hired a new CTO.

Epstein Family Foundation Awards $1 Million to Research Institute

The Epstein Family Foundation has granted Sanford Burnham Prebys Medical Discovery Institute $1 million to pursue pancreatic and prostate cancer research.