San Diego Business Journal

Convention Center, Balboa Park Get Green-Building Status Upgrades

Two of the city’s longtime visitor mainstays — the San Diego Convention Center and Balboa Park — recently marked key sustainability certifications under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program.

By Lou Hirsh April 23, 2017 1:05 p.m. share »
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CityMark Completes Apartment Project in Lemon Grove

San Diego-headquartered CityMark Development recently completed and opened Celsius, a new 84-unit apartment building in the East County city of Lemon Grove with an approximate development cost of $20 million.

By Lou Hirsh April 23, 2017 1:02 p.m. share »
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Developer Completes Apartment Project in Lemon Grove

San Diego-headquartered CityMark Development recently completed and opened Celsius, a new 84-unit apartment building in the East County city of Lemon Grove with an approximate development cost of $20 million.

By Lou Hirsh April 21, 2017 3:17 p.m. share »

Convention Center and Balboa Park Get Green-Building Status Upgrades

Two of the city’s longtime visitor mainstays — the San Diego Convention Center and Balboa Park – recently marked key sustainability certifications under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program.

By Lou Hirsh April 21, 2017 2:57 p.m. share »
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Scripps Health Sells Former Hospice Property in Hillcrest for $20 Million

San Diego’s Scripps Health has sold a former hospice facility that it owns in Hillcrest to a Houston-based investment company for $20 million. Camden USA Inc. plans to build a multifamily project on the eight-acre property at 4311 Third Ave., according to CoStar Group and public data.

By Lou Hirsh April 20, 2017 4:57 p.m. share »
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Food Is the New Retail Attraction in Downtown La Mesa

Among the latest additions to La Mesa’s burgeoning downtown restaurant scene is the full-service Farmer’s Table, billed as a “farm-to-fork” eatery with a menu emphasizing locally sourced meats and produce.

By lou April 20, 2017 1:32 p.m. share »
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After 8 Years of Absorption, Industrial May Have Peaked

Coming off a particularly strong year for space absorption and construction activity, San Diego County’s industrial property market will be hard-pressed in 2017 to match the high-demand patterns of 2016.

By Lou Hirsh April 20, 2017 1:08 p.m. share »
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Gaslamp Seeking To Restore Luster

Downtown property owners say elements are gradually falling into place as San Diego’s historic Gaslamp Quarter seeks to recapture some of the luster lost over the past decade as locals flocked to other urban neighborhoods including Little Italy, North Park and the nearby Ballpark District in East Village.

By Lou Hirsh April 20, 2017 12:36 p.m. share »
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Port District Chooses Developers for Chula Vista Waterfront RV Park

The Unified Port of San Diego has selected Sun Communities Inc. and Northgate Resorts LLC to develop a destination recreational vehicle park on the Chula Vista bayfront.

By Lou Hirsh April 19, 2017 4:41 p.m. share »

Multifamily Brokers Switch from CBRE to Kidder Mathews

Commercial real estate services firm Kidder Mathews has announced the San Diego hiring of three multifamily investment brokers and two support personnel, who have switched over from rival CBRE Group Inc.

By Lou Hirsh April 19, 2017 2:57 p.m. share »
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La Jolla Retail Units Sell for $4.65 Million

The Cove Equity Group of San Diego has acquired a two-unit retail condominium in La Jolla for $4.65 million, according to brokerage firm Colliers International Group Inc.

By Lou Hirsh April 18, 2017 12:57 p.m. share »
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Vista Office Property Sold for $12.8 Million

An affiliate of Chino-based Gelardo Family Trust has purchased a Vista office building for $12.8 million, according to CoStar Group and public data.

By Lou Hirsh April 18, 2017 11:06 a.m. share »

Hospitality Services Provider Luxpitality Relocates HQ to East Village

Hospitality services provider Luxpitality has relocated its headquarters from Scottsdale, Ariz., to downtown San Diego’s East Village, the company announced.

By Lou Hirsh April 17, 2017 3:31 p.m. share »

Spiritual Campus Planned After $2.8M Escondido Land Purchase

Shanti Nivasam Corp. of San Diego has acquired a 20-acre land parcel in Escondido for $2.8 million, with plans to develop a Hindu spiritual campus, according to brokerage and research firm xREIT.

By Lou Hirsh April 17, 2017 3:02 p.m. share »
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Solana Beach Mixed-Use Project Planned After $5.5 Million Land Purchase

RAF Pacifica Group of Encinitas has acquired a commercial land parcel in Solana Beach for $5.5 million, with plans for a $21 million mixed-use development.

By Lou Hirsh April 17, 2017 12:09 p.m. share »

Commercial Real Estate 2017: The Office Winners Are...

The stats gauging San Diego County’s commercial real estate performance in 2017’s first quarter are now arriving from local brokerage firms.

By Lou Hirsh April 16, 2017 1:06 p.m. share »
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Developers Obtain $49.7 Million in Financing for Downtown’s Carte Hotel

Developers have obtained approximately $49.7 million in financing for the Carte Hotel & Suites, now under construction in downtown San Diego, according to Peak Finance, which secured the financing.

By Lou Hirsh April 16, 2017 1:05 p.m. share »

Wakeland Completes $79.3M Affordable Housing Project in Cortez Hill

San Diego’s Wakeland Housing and Development Corp. recently completed Atmosphere, a $79.3 million project with 154 affordable apartments in downtown’s Cortez Hill neighborhood.

By Lou Hirsh April 16, 2017 1:01 p.m. share »
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Wakeland Finishes $79.3M Affordable Housing Project in Cortez Hill

San Diego’s Wakeland Housing and Development Corp. recently completed Atmosphere, a $79.3 million project with 154 affordable apartments in downtown’s Cortez Hill neighborhood.

By Lou Hirsh April 14, 2017 2:59 p.m. share »
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Developers of Downtown’s Carte Hotel Obtain $49.7 Million in Financing

Developers have obtained approximately $49.7 million in financing for the Carte Hotel & Suites, now under construction in downtown San Diego, according to Peak Finance, which secured the financing.

By Lou Hirsh April 14, 2017 2:49 p.m. share »

Commercial Real Estate 2017: The Office Winners So Far

The stats gauging San Diego County’s commercial real estate performance in 2017’s first quarter are now arriving ...

By Lou Hirsh April 14, 2017 12:24 p.m. share »
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Carlsbad Brewery Igniter Puts Startups on the Map

Less than 15 months after opening its first Brewery Igniter in Miramar, geared to early-stage beer makers, San Diego’s H.G. Fenton Co. has now filled up three of those industrial facilities in key craft-brew hubs.

By Lou Hirsh April 13, 2017 2:17 p.m. share »
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Border Wall Raises Economic as Well as Political Questions

The federal government by June will be narrowing down a large nationwide field of contractors looking to build President Trump’s proposed 2,000-mile wall along the U.S.-Mexico border. However, it remains unclear what the wall will cost, how and when it will get funded and built, and what will be the employment and other economic impacts in San Diego County.

By Lou Hirsh April 13, 2017 1:58 p.m. share »
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Distiller Sticks With a Craft Beer Game Plan

Just eight months after founder Jack White and other key executives departed San Diego’s Ballast Point Brewing & Spirits, their new venture, Cutwater Spirits, has already made its own mark in the burgeoning world of distilled craft alcoholic drinks.

By Lou Hirsh April 13, 2017 1:44 p.m. share »

Chula Vista Approves Ownership Change for Seven Mile Casino

The Chula Vista City Council has approved the transfer of ownership of the Seven Mile Casino card room to La Jolla-based Stones South Bay Corp. The venue, formerly known as Village Club Card Room at 285 Bay Blvd., was previously owned by locally based VC Cardroom Inc.

By Lou Hirsh April 13, 2017 1:02 p.m. share »
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San Diego Trust Acquires Texas Restaurant Building for $2.42 Million

Daniel R. Bond Separate Property Trust of San Diego has purchased a Fort Worth, Texas building housing Chili’s Grill & Bar for approximately $2.42 million, according to brokerage firm The Heritage Group.

By Lou Hirsh April 13, 2017 12:59 p.m. share »

San Diego Behavioral Health Facility Among 6 Being Acquired in $400M Deal

Aurora Behaviorial Health Care San Diego is among six psychiatric hospitals being acquired by Care Capital Properties Inc. in a $400 million deal, the Chicago-based investment company announced.

By Lou Hirsh April 12, 2017 3:14 p.m. share »
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Work Begins on Condominium Development in Otay Mesa

San Diego’s Cornerstone Communities and Presidio Residential Capital have begun construction on the $45 million first phase of Tesoro at Vista Del Sur, with 134 upscale condominiums in Otay Mesa.

By Lou Hirsh April 12, 2017 3:11 p.m. share »
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Imperial Beach Retail Center Sold for $10.5 Million

Highpoint Capital Group of Tarzana has purchased an Imperial Beach retail center for approximately $10.5 million, according to brokerage firm NAI Capital’s Investment Services Group.

By Lou Hirsh April 12, 2017 3:09 p.m. share »
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Encinitas Firm Buys Two Commercial Properties for $7 Million

Stos Partners of Encinitas has acquired two commercial properties, located in San Dimas and Encinitas, for a total of $7 million, the company announced.

By Lou Hirsh April 11, 2017 4:05 p.m. share »
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Shea Homes Buys Vacant Land in Carlsbad for $4 Million

The San Diego office of Shea Homes has purchased 3.13 acres of vacant land in Carlsbad for $4 million, with plans to build 10 single-family houses, according to brokerage firm Lee & Associates.

By Lou Hirsh April 11, 2017 4:04 p.m. share »
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La Mesa Apartment Property Sells for $3.85 Million

Investor Mark Gosselin of San Diego has acquired a 26-unit apartment property in La Mesa for $3.85 million, according to brokerage firm ACRE Investment Real Estate Services.

By Lou Hirsh April 11, 2017 4:03 p.m. share »
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Richman Group Begins Work on $100M Downtown Mixed-use Development

Developer The Richman Group of California LLC has begun construction on K1, a new mixed-use apartment tower in downtown San Diego with an estimated development cost of more than $100 million.

By Lou Hirsh April 10, 2017 4:06 p.m. share »

Italian Furniture Maker Natuzzi Expanding into San Diego

Italian furniture maker Natuzzi Italia, known officially as Natuzzi S.p.A.., plans to make its San Diego retail debut in late April or early May, with a 1,500-square-foot gallery set to open at the existing Hold It Contemporary Home in Mission Valley.

By Lou Hirsh April 10, 2017 4:05 p.m. share »
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Manchester Grand Hyatt Ranked Among Nation’s Most-Booked Meeting Hotels

Manchester Grand Hyatt San Diego recently placed at No. 8 among the nation’s Top 10 meeting hotels based on booking activity, in an annual list published by event management technology provider Cvent Inc.

By Lou Hirsh April 9, 2017 1:08 p.m. share »
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Bemer USA Buys Carlsbad Property for New Headquarters

Bemer USA, which makes medical devices geared to vascular physical therapy, has purchased a Carlsbad industrial and office building for approximately $2.58 million.

By Lou Hirsh April 9, 2017 1:05 p.m. share »
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Chula Vista Apartment Property Sells for $4.32M

Mar City IV LLC of Del Mar has acquired a 30-unit apartment property in Chula Vista for approximately $4.32 million, according to brokerage firm South Coast Commercial Inc.

By Lou Hirsh April 9, 2017 1 p.m. share »
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The Manchester Grand Hyatt Ranked Among Nation’s Most-Booked Meeting Hotels

Manchester Grand Hyatt San Diego recently placed at No. 8 among the nation’s Top 10 meeting hotels based on booking activity, in an annual list published by event management technology provider Cvent Inc.

By Lou Hirsh April 7, 2017 12:43 p.m. share »
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Chula Vista Apartment Property Sells for $4.32 Million

Mar City IV LLC of Del Mar has acquired a 30-unit apartment property in Chula Vista for approximately $4.32 million, according to brokerage firm South Coast Commercial Inc.

By Lou Hirsh April 7, 2017 11:53 a.m. share »
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Bemer USA Purchases Carlsbad Property for New Headquarters

Bemer USA, which makes medical devices geared to vascular physical therapy, has purchased a Carlsbad industrial and office building for approximately $2.58 million.

By Lou Hirsh April 7, 2017 11:39 a.m. share »
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Three Trends Driving Growth in Craft Spirits

San Diego’s Cutwater Spirits and You & Yours Distilling Co. are just the latest among a wave of craft distillers now offering their own take on gins, vodkas, rums and other alcoholic spirits — a roster now numbering more than a dozen in San Diego County alone.

By Lou Hirsh April 6, 2017 4:09 p.m. share »
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Little Italy Office Tower Owner Obtains $33 Million in Refinancing

Property owner Gemini Rosemont LLC has obtained $33 million in refinancing for a downtown San Diego office tower that it purchased last year, according to A10 Capital, which financed the loan.

By Lou Hirsh April 6, 2017 4:08 p.m. share »
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Three Local Stores on Payless ShoeSource Closure List

Three San Diego County stores are among 378 nationwide that are being closed immediately by discount retailer Payless ShoeSource, as part of a Chapter 11 bankruptcy filing.

By Lou Hirsh April 6, 2017 4:05 p.m. share »

Heavyweight Bout of Big Issues

In San Diego this fall, it likely won’t be raining ballot issues and candidates when city voters head to the polls for an expected November special election. Unlike November 2016, there probably will not be 12 city ballot measures (among 35 countywide), along with 17 state propositions and the multiple government and school elections that come with a presidential election year.

By Lou Hirsh April 6, 2017 2 p.m. share »
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Demolition Work Begins on $1.3 Billion Navy Broadway Redevelopment

Demolition work has begun on Manchester Financial Group’s long-delayed, $1.3 billion redevelopment of the Navy Broadway Complex in downtown San Diego.

By Lou Hirsh April 5, 2017 4:19 p.m. share »

Two Local Restaurants Make Magazine’s Most-Promising List

San Diego’s Luna Grill and Urban Plates were among 40 U.S. restaurant companies that made industry news magazine QSR’s recently published list of the most promising fast-casual dining concepts.

By Lou Hirsh April 5, 2017 4:15 p.m. share »
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East County Apartments Change Hands in $4.3 Million Deal

A buyer recorded as Villa Mollison LLC has acquired a 35-unit apartment property in El Cajon for approximately $4.3 million, according to CoStar Group and public data.

By Lou Hirsh April 5, 2017 4:14 p.m. share »
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Furnishings Retailer West Elm Opening New Store in Solana Beach

Upscale home furnishings and design retailer West Elm plans a fall 2017 opening for a new store in Solana Beach’s Cedros Design District, according to brokerage firm CBRE Group Inc.

By Lou Hirsh April 5, 2017 4:13 p.m. share »

SoccerCity Developers Now Aiming for November Ballot

The development group proposing a soccer-centric mixed-use project at the Mission Valley site of Qualcomm Stadium will ask the San Diego City Council to place its plan on the November ballot, as part of a special election.

By Lou Hirsh April 4, 2017 2:36 p.m. share »
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San Diego Office Building Sells for $17 Million

A San Diego buyer recorded as CVOP Associates LLC has acquired a Carmel Mountain Ranch office building for $17 million, according to CoStar Group and public data.

By Lou Hirsh April 4, 2017 2:03 p.m. share »

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