San Diego Business Journal

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Crunch Fitness Opening Four New Gyms in San Diego Market

A local franchisee of New York-based Crunch Fitness, which operates gym facilities, has at least four new locations set to open in San Diego County, according to brokerage firm The Heritage Group, which handled recent local leasings.

App-Enabled Jet Booking Service Expands to San Diego

Florida-based JetSmarter recently announced an expansion into the San Diego market for its app-enabled service that lets travelers book single seats on private jets.

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Alaska Airlines Offering New Direct Local Flights to Newark

Alaska Airlines will offer new daily nonstop service between San Diego and Newark, New Jersey, beginning Nov. 21, the carrier and San Diego International Airport officials announced.

Survey: Development Sentiment Strong Despite Growth Concerns

California commercial developers generally remain optimistic about prospects for new projects through 2019, though there are concerns about a potential slowdown in economic growth, according to the latest statewide survey from UCLA Anderson Forecast and the law firm Allen Matkins.

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Kensington Apartments Sold for $2.77 Million

A La Jolla buyer recorded as Beachfront I LP has acquired a 12-unit apartment property in San Diego’s Kensington neighborhood for approximately $2.77 million, according to brokerage firm Apartment Realty Group Inc. (ARG)

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El Cajon Retail Buildings Sell for $4.55 million

A Lemon Grove buyer recorded as El Cajon Investments Group LLC has acquired a two-building retail property in El Cajon for $4.55 million, according to CoStar Group and public data.

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Market Keeps Eyes on Economics, Not Politics

GOP presidential nominee Donald Trump might score some points in commercial real estate circles for his track record as an office and condo developer, symbolized by Trump Tower and other prominent projects bearing his name, especially in his home hub of New York City.

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Developers Feel Pressure to Deliver at Seaport Village Site

PORT: Many Stakeholders To Weigh In On $1.2B Plan

Even after more than three decades spent managing and developing major projects in San Diego and elsewhere, Yehudi Gaffen says he’s rarely taken on something with the size and multi-component scope of what his development team is now proposing for the downtown waterfront.

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Despite Frothy Competition, Brewer Stays Its Course

HOSPITALITY: Karl Strauss To Open Brew Pubs in OC, LA

“Karlifornia” has lately been appearing with increasing frequency on the caps, T-shirts and other paraphernalia sold at the craft beer brewery restaurants operated by San Diego’s Karl Strauss Brewing Co.

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Bay Club Buys Fairbanks Ranch Country Club

The Bay Club Company of San Francisco has acquired Fairbanks Ranch Country Club in Rancho Santa Fe, but the parties were not immediately disclosing the purchase price.

County Supervisors Vote for Study on Lilac Hills Ballot Measure

The San Diego County Board of Supervisors has voted to have staff study a proposed November ballot measure on the controversial Lilac Hills Ranch development, which recently qualified for the ballot following an initiative petition drive by supporters.

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Coronado Retail Properties Sell for $5.2 Million

A local buyer recorded as 820 Orange Av LLC has acquired a two-building retail property portfolio in Coronado for $5.2 million, according to CoStar Group and public data.

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Bank Building in Carlsbad Sold for $8.82 Million

An affiliate of Irvine-based Sperry Commercial has acquired a Carlsbad office building housing Bank of America for approximately $8.82 million, according to CoStar Group and public data.

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Developer Secures Financing for North Park Apartment Project

San Diego-based Wright Real Estate Management and Development has secured financing for a planned $11 million apartment project in North Park.

Ramona-Based Spirits Importer Reacquires Family Name

Ramona-based HPS Epicurean, a third-generation company that imports and markets internationally made spirits, wines and culinary niche brands, recently reacquired rights to the original family name of Preiss Imports.

South County EDC Launches Tourism Website

The South County Economic Development Council recently launched a new tourism website, touting South Bay events and recreational attractions.

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Lilac Hills Development Project Qualifies for the November Ballot

The San Diego County Registrar of Voters has certified that project supporters gathered sufficient signatures to place the controversial Lilac Hills Ranch development before county voters on the Nov. 8 ballot.

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Poway Industrial Building Sold for $10.5 Million

A local franchisee of California Closets has purchased a Poway industrial building for approximately $10.5 million, according to CoStar Group and public data.

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JLL Taps Bonebrake to Head U.S. Industrial Property Management

Commercial real estate services provider JLL has hired Debra Bonebrake as a managing director in San Diego, heading the company’s U.S. industrial property management division.

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Lilac Hills Development Project Qualifies for November Ballot

The San Diego County Registrar of Voters has certified that project supporters gathered sufficient signatures to place the controversial Lilac Hills Ranch development before county voters on the Nov. 8 ballot.

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Poway Industrial Building Sells for $10.5 Million

A local franchisee of California Closets has purchased a Poway industrial building for approximately $10.5 million, according to CoStar Group and public data.

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JLL Taps Debra Bonebrake to Head U.S. Industrial Property Management

Commercial real estate services provider JLL has hired Debra Bonebrake as a managing director in San Diego, heading the company’s U.S. industrial property management division.

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Escondido Contractor Awarded $26.4M CHP Project in Kearny Mesa

Escondido-based general contractor Erickson-Hall Construction Co. has been awarded a $26.4 million design-build contract to construct a San Diego replacement facility for the California Highway Patrol.

Port District Favors Protea Plan for Central Embarcadero

San Diego port district commissioners have voted 6-1 to hold exclusive talks with Protea Waterfront Development, one of six development teams that recently put forward multi-use proposals to redevelop the 70-acre Central Embarcadero waterfront site that currently includes Seaport Village.

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S.D’s Ship Is In With Comic-Con Enterprise

TRAVEL: ‘Star Trek’ Debut Is Part of 2016’s Big Draws

Hollywood may be experiencing a slump at the box office, but the major movie studios still know the value of the concentrated, avid and very large audience that flocks annually to Comic-Con International in San Diego.

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Finding a Game Plan for The Q After Football

LAND: Ideas Floated for Possible Public-Private Projects

With the San Diego Chargers focused on a proposed downtown stadium — or a potential exit to Inglewood if that doesn’t pan out — local developers and urban planners are quietly discussing post-NFL prospects for the big Mission Valley site now housing the aging Qualcomm Stadium.

Rouse Moving Forward with Carlsbad Mall Renovation

Rouse Properties Inc. will continue operating a portfolio of U.S. retail centers that officially changed ownership when Rouse was acquired by Brookfield Asset Management Inc. in a $2.8 billion deal. Rouse officials said a previously announced renovation of The Shoppes at Carlsbad mall remains on track.

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Rouse Sells Carlsbad Mall in $2.8 Billion Portfolio Deal

The Carlsbad shopping mall once known as Westfield Plaza Camino Real has changed owners for the second time in less than a year, after being acquired by Toronto-based Brookfield Asset Management Inc. as part of a nationwide portfolio deal valued at $2.8 billion.

Public Workshop on Central Embarcadero Plans Gets Earlier Start

San Diego port commissioners have moved a scheduled July 13 public workshop to review six Central Embarcadero development proposals to an earlier 9 a.m. start time, due to a planned San Diego visit by Vice President Joe Biden.

Two Local Omni Hotels Impacted by Data Breach

A spokeswoman for Dallas-based Omni Hotels & Resorts confirmed that the company’s properties in downtown San Diego and Carlsbad were among those impacted by a nationwide data breach of customer credit card information.

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North Park Retail Center Sold for $3.7 Million

A San Diego buyer recorded as 2800 El Cajon Blvd. has acquired a North Park retail center for $3.7 million, according to brokerage firm SVN Asset Advisory Group.

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Vista Retail Center Sells for $4.9 Million

Los Angeles-based Viktor Real Estate Investment LLC has acquired a Vista retail center for $4.9 million, according to The Mansour Group at brokerage firm Marcus & Millichap.

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Bosa Buys National City Office Building for $42.7 Million

Vancouver, B.C.-based Bosa Development, which has regional operations in San Diego, has acquired a National City office building for approximately $42.7 million, according to CoStar Group and public data.

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Local Firm Plans New Industrial Facility after $8.86M Carlsbad Land Buy

RAF Pacifica Group has acquired 13.2 acres of land in Carlsbad for $8.86 million, with plans to build a new 168,000-square-foot industrial facility, the Encinitas-based company announced.

Sorrento Office Owner Completes $2.5M in Upgrades, Adds 3 Tenants

San Diego-based property owner Parallel Capital Partners Inc. has completed $2.5 million in improvements at The Elements at Wateridge, the company’s three-building office complex in Sorrento Mesa.

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SDSU Names New Director of Corky McMillin Center for Real Estate

San Diego State University’s College of Business Administration has named Elaine Worzala as the new director of the Corky McMillin Center for Real Estate.

SANDAG Puts Half-Cent Sales Tax Increase on November Ballot

The board of directors of the San Diego Association of Governments (SANDAG) has voted to place a countywide measure on the November ballot, proposing a half-cent increase in the current sales tax to finance $18 billion in transportation-related projects.

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Pension Fund Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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Santee Apartment Property Sold for $28.9 Million

A joint venture that includes LLJ Ventures of San Diego and Stratford Partners Real Estate LLC of Del Mar has acquired a 160-unit Santee apartment property for $28.9 million, according to CoStar Group and public data.

Local Firms Partner on Carlsbad Residential Development

San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

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San Diego Industrial Building Sells for $16.3 Million

Maryland-based Realterm Logistics has purchased an industrial property in San Diego’s Midway district for $16.3 million, according to brokerage firm CBRE Group Inc.

SANDAG Puts Sales Tax Increase on November Ballot

The board of directors of the San Diego Association of Governments (SANDAG) has voted to place a countywide measure on the November ballot, proposing a half-cent increase in the current sales tax to finance $18 billion in transportation-related projects.

Firms Partner on Carlsbad Residential Development

San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

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S.D. Industrial Building Sells for $16.3 Million

Maryland-based Realterm Logistics has purchased an industrial property in San Diego’s Midway district for $16.3 million, according to brokerage firm CBRE Group Inc.

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Apartment Property Sold for $28.9 Million

A joint venture that includes LLJ Ventures of San Diego and Stratford Partners Real Estate LLC of Del Mar has acquired a 160-unit Santee apartment property for $28.9 million, according to CoStar Group and public data.

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Pension Fund Is Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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ROIC Announces $115.8 Million Stock Offering

San Diego-based Retail Opportunity Investments Corp. (ROIC) on July 6 announced the start of a public offering of common stock shares, expected to generate net proceeds of approximately $115.8 million after underwriting and related expenses.

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Oceanside Warehouse Building Sold for $7 Million

San Diego-based RFT Management Development co. has acquired an Oceanside industrial warehouse building for approximately $7 million, according to brokerage firm Lee & Associates.

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‘Shark Tank’ Survivors

FINANCE: Local Businesses Tested the Waters Of TV Show Financing With Mixed Results

When producers of the popular ABC TV show “Shark Tank” last came through San Diego County to audition potential entrepreneurs in 2014 — at Southwestern College in National City — more than 150 locals showed up to make their pitch.

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San Diego’s ‘Skyline’ Market Is Drawing Investor Interest

Now that four big downtown office towers have been sold in 2016, San Diego’s “Skyline” market is poised for its biggest year in a decade for deal volume, according to a recent report by the brokerage firm JLL.

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