San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Otay Mesa Industrial Property Sold for $8.1 Million

A San Diego entity recorded as Niceride1 LLC has purchased an Otay Mesa industrial property for approximately $8.1 million, according to CoStar Group and public data.

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MiraCosta College Opening Technology Career Institute in Carlsbad

The city of Carlsbad and MiraCosta College have partnered to open a new Technology Career Institute, in a city-owned building where the college will train workers to fill a growing demand for industrial technicians.

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San Diego Office Buildings Part of $214.4 Million Portfolio Deal

Four San Diego office buildings are part of a seven-state, 37-property commercial portfolio acquired by an affiliate of Dallas-based Lone Star Funds for $214.4 million, according to CoStar Group and public data.

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Carlsbad Office Building Sold for $26.2 Million

A San Francisco-based affiliate of New York Life Investment Management LLC has purchased the Centerpoint Plaza office building in Carlsbad for approximately $26.2 million, according to CoStar Group and public data.

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WD-40 Reports Q3 Results

San Diego based WD-40 Co. reported net sales of $95.65 million for the third quarter ending May 31.

County Median Price for House in June is $525,000

The median price for single family houses sold in San Diego last month rose 5 percent from May to $525,000, while the median price for condos sold here last month was unchanged at $334,500, according to the Greater San Diego Association of Realtors.

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Westcore Sells 9 Industrial Buildings for $88.5 Million

San Diego-based Westcore Properties has sold a nine-building industrial portfolio, which includes five in San Diego, for $88.5 million. The buyer was Rexford Industrial Realty Inc. of Los Angeles, according to statements from the buyer and seller.

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Realty Income Corp. Buys El Cajon Retail Center for $20.1 Million

Escondido-based Realty Income Corp. has purchased a two-building community shopping center in El Cajon for approximately $20.1 million, according to CoStar Group and public data.

Pulse Receives Notice of Noncompliance From NYSE

Pulse Electronics Corp., a San Diego-based maker of electronic components, said it has been notified by the New York Stock Exchange that it is not in compliance with the exchange’s minimum listing requirements covering market capitalization.

Teens Without Diplomas Face Bad Job Prospects

ECONOMY: Minimum Wage Hike Could Make Job Search Even Harder

Many San Diego teenagers are likely singing the summertime blues amid an already tough job market and a $1 per hour statewide minimum wage hike that took effect last week.

Seragon Being Purchased in Deal Potentially Worth $1.7 Billion

Seragon Pharmaceuticals, a privately held San Diego-based drug developer targeting breast cancer treatment, agreed to be acquired by Genentech, a subsidiary of the Roche Group, for $725 million in cash plus future payments which could reach $1 billion if specific milestones are reached, the companies announced.

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Novatel Settles Class-Action Lawsuit

Novatel Wireless Inc. settled a securities class action lawsuit without admitting liability on June 23, according to a securities filing, following a preliminary agreement to settle struck on Dec. 6.

SANDAG Program Will Help Companies to Increase Number of 'Teleworkers'

The San Diego Association of Governments is launching a pilot program aimed at helping employers to convert more of their workers to teleworkers, or working from their homes.

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BBX Capital Corp. Acquires Solana Beach-Based Jer’s Chocolates

Solana Beach-headquartered candy maker Jer’s Chocolates has been acquired by BBX Sweet Holdings, a wholly owned subsidiary of Florida-based BBX Capital Corp.

Trovagene Secures Debt Facility of $15 Million

Trovagene Inc., a San Diego molecular diagnostics company, said it secured an unrestricted debt facility of $15 million from Silicon Valley bank and Oxford Finance LLC.