San Diego Business Journal

Stone Brewing Initiates $100 Million Craft Beer Investment Company

Stone Brewing Co. CEO Greg Koch has announced the formation of True Craft, a $100 million company geared toward investing in smaller craft breweries to help them remain independent.

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Ballast Point Takes Overseas Delivery of Large New Storage Tanks

The Port of San Diego recently received a shipment of four 24-ton fermentation and storage tanks bound for Ballast Point Brewing & Spirits, as the brewer expands production at its main facility in Miramar.

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Sudberry Properties Breaking Ground on Imperial Beach Retail Center

Developer Sudberry Properties plans a May 5 ground-breaking for Breakwater Town Center, a new shopping center and community hub in Imperial Beach.

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Eureka! Restaurant Joins Lineup at SDSU Mixed-Use Plaza

San Diego State University has signed the restaurant chain Eureka! as the latest new tenant at its mixed-use South Campus Plaza, currently under construction.

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Petherbridge Named President and CEO of Excel Trust

San Diego-headquartered Excel Trust has appointed Luke J. Petherbridge as chief executive officer and president.

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Charter School Buys La Mesa Retail Property for $2.1 Million

Student Success Programs, a local charter school, has acquired a La Mesa retail property for approximately $2.1 million, with plans to set up school operations, according to brokerage firm Lee & Associates.

Otay Mesa Industrial Property Sells for $3.5 Million

A buyer recorded as TP Otay Mesa LLC has acquired a two-parcel industrial site in Otay Mesa for $3.5 million, according to brokerage firm Lee & Associates.

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San Diego Apartment Property Sells for $3.6 Million

Fenway Properties I LLC of San Diego has purchased a 20-unit apartment property in the city’s Normal Heights neighborhood for $3.6 million, according to brokerage firm Marcus & Millichap.

Gas Station with Retail Planned after $3M Land Buy in Vista

J&T Business Management of Corona has purchased a 4.6-acre land parcel in Vista for approximately $3 million, with plans to build and operate a nationally branded gas station with additional retail, according to brokerage firm Lee & Associates.

Gas Station with Retail Planned after $3 Million Land Buy in Vista

J&T Business Management of Corona has purchased a 4.6-acre land parcel in Vista for approximately $3 million, with plans to build and operate a nationally branded gas station with additional retail, according to brokerage firm Lee & Associates.

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San Diego Apartment Property Sold for $3.6M

Fenway Properties I LLC of San Diego has purchased a 20-unit apartment property in the city’s Normal Heights neighborhood for $3.6 million, according to brokerage firm Marcus & Millichap.

Industrial Property Sells for $3.5 Million

A buyer recorded as TP Otay Mesa LLC has acquired a two-parcel industrial site in Otay Mesa for $3.5 million, according to brokerage firm Lee & Associates.

San Diego International Airport Traffic Rose 3 Percent in March

San Diego International Airport saw passenger traffic rise 3 percent in March over the same month of 2015, as the facility handled more than 1.7 million arriving and departing travelers.

ROIC Posts Increase in Revenue for First Quarter

Total first-quarter revenue at Retail Opportunity Investments Corp. (ROIC) rose 6.3 percent over the year-ago period, topping $42.6 million, the San Diego-based company reported.

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It’s Game On for Both Sides of Stadium Fight

Ballot: Chargers Field Fan Favorites; Other Side Submits Signatures

Two separate campaigns -- aimed at financing a future new downtown San Diego Chargers stadium, expanded convention facilities and possibly post-Chargers civic upgrades in Mission Valley – picked up significant momentum over the past 10 days.

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Paving The Way

Border Region Puts Transportation Infrastructure In Place to Support Free-Flowing Trade, Business and Commutes

Government leaders from both sides of the border recently marked what they said were major milestones impacting the long term-economic viability of the region where Otay Mesa meets Mexico’s Baja California.

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S.D. Not Waiting To Be Discovered

FILM: City Casts Itself Into The Competition for Shoots

After several re-takes and reboots over the past 40 years, the latest version of San Diego’s film commission is turning to the web — among other reconfigured elements — to boost the region’s profile in the increasingly competitive world of media production shoots.

Revenue Rises at American Assets Trust

American Assets Trust Inc. saw total revenue rise 7.1 percent from a year ago in its first quarter ending March 31, reaching $70.7 million, the San Diego-based real estate investment trust reported.

First Quarter Revenue, Net Income Rise at Realty Income Corp.

Realty Income Corp. posted an 8.2 percent increase in first-quarter revenue compared with the same period of 2015, topping $267.1 million, as net income available to common stockholders rose 4.9 percent, to $63.5 million.

Citizen Group Backing Hotel Tax Hike Submits 100,845 Signatures

A citizen group seeking to raise San Diego’s total current hotel taxes by 3 percent, to 15.5 percent, said it has gathered 100,845 voter signatures for an election measure targeted for the November ballot.

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Bankers Hill Church Building Sells for $2.7 Million

A local buyer listed as Park6 Ventures LLC has acquired a church building in San Diego’s Bankers Hill neighborhood for $2.7 million, according to brokerage firm Lee & Associates.

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Brian Hughes Named Executive Director of Tourism Marketing District

The San Diego Tourism Marketing District has named hotel industry veteran Brian Hughes as the organization’s new executive director.

Grocer Aldi Plans May 19 Opening for Vista Store

Discount grocer Aldi Inc. plans a May 19 opening for its first San Diego County store, at 1750 University Ave. in Vista.

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San Diego Apartment Complex Sold for $2.25 Million

Immobilier Fund LLC of Rancho Santa Fe has purchased a 15-unit apartment complex in San Diego’s Talmadge neighborhood for $2.25 million, according to brokerage firm Apartment Consultants Inc. (ACI).

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Escondido Apartment Property Sells for $16.7 Million

An affiliate of San Francisco-based Vista International has purchased a 100-unit Escondido apartment building for approximately $16.7 million, according to CoStar Group and public data.

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TownePlace Suites Hotel in Vista Sold for $15 Million

An affiliate of Anaheim-based Marwaha Group Inc. has acquired the 94-room TownePlace Suites hotel in Vista for $15 million, according to CoStar Group and public data.

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Developer Obtains Financing for East Village Apartments

Developer The Richman Group has obtained joint-venture equity financing for a previously announced, 221-unit apartment tower planned for East Village, according to HFF, which arranged the financing.

Port District Tees Up Its Preferences for Harbor Island Finalists

San Diego port district officials last year put the brakes on several proposals – with elements including a giant Ferris wheel and a Seattle-Space-Needle-like spire – that some critics thought might turn the downtown waterfront into something resembling a theme-park midway.

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Irvine Co. Joins Growing Development Fray in Mission Valley

REAL ESTATE: Firm Negotiating for Riverwalk Golf Course Property

Add Irvine Co. to the growing list of developers – now numbering at least a dozen – looking to add residential, commercial and civic elements to what is already a complex array of projects in the works for Mission Valley.

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Annex Brands Acquires Pak Mail Centers of America

San Diego-headquartered shipping services provider Annex Brands Inc. has acquired Colorado-based Pak Mail Centers of America Inc.

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Chelsea Plans Affordable Housing Project After $6.57 Million Land Buy

Carlsbad-based developer Chelsea Investment Corp. has purchased a four-acre property in San Diego’s San Carlos neighborhood for approximately $6.57 million, with plans to redevelop it into an affordable housing community.

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Scripps Ranch Office Building Sells for $4.45 Million

Local investor Stacey Adams Draminga has acquired a two-story Scripps Ranch office property for $4.45 million, according to brokerage firm Colliers International Group Inc.

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Chelsea Investment Plans Affordable Housing Project After $6.57 Million Land Buy

Carlsbad-based developer Chelsea Investment Corp. has purchased a four-acre property in San Diego’s San Carlos neighborhood for approximately $6.57 million, with plans to redevelop it into an affordable housing community.

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Annex Brands Inc. Acquires Pak Mail Centers of America

San Diego-headquartered shipping services provider Annex Brands Inc. has acquired Colorado-based Pak Mail Centers of America Inc.

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Chargers Release Renderings for Hybrid Stadium-Convention Facility

The San Diego Chargers have released renderings of a proposed downtown hybrid stadium and convention facility, ahead of the official start of a signature-gathering drive to place the $1.8 billion project before city voters in November.

Uber Launching Carpooling Service in San Diego

San Francisco-headquartered Uber Technologies Inc. plans an April 25 launch in San Diego of its UberPool ride-hailing service, allowing customers heading to the same destination to share rides at a discounted price.

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Carlsbad Retail Center Owner Obtains $43 Million in Refinancing

Connecticut-based owner Cornerstone Real Estate Advisers LLC has obtained $43 million in refinancing for its Bressi Ranch Village Center in Carlsbad, according to CBRE Group Inc., which arranged the loan.

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Otay Mesa Industrial Buildings Sold for $45.2 Million

A San Diego buyer recorded as Siempre Viva Industrial LLC has acquired a two-building industrial portfolio in Otay Mesa for $45.2 million, according to CoStar Group and public data.

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Oceanside Apartment Complex Sells for $26.5 Million

Milano Apartments Homes LP of San Diego has purchased a 114-unit Oceanside apartment complex for $26.5 million, according to brokerage company Marcus & Millichap.

Pima Medical Institute Plans New Location in San Marcos

Healthcare education provider Pima Medical Institute has signed a long-term lease for a space at the North City mixed-use development in San Marcos, the project’s developer announced.

SeaWorld Drops Plans for Orca Habitat Expansion

SeaWorld San Diego has notified the California Coastal Commission that it is dropping plans for a $100 million expansion of its orca habitat, following an earlier decision by its parent firm to discontinue whale breeding at all of its marine parks.

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Walker Named General Manager at Hilton San Diego Bayfront Hotel

Hilton Worldwide has named Tracy Walker as area general manager for the San Diego region, with duties that include direct oversight of the 1,190-room Hilton San Diego Bayfront hotel.

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Poway Retail Center Sells for $4.85 Million

A buyer listed as Senang Investments LLC of San Diego has purchased the Poway Town Center retail property for $4.85 million, according to brokerage firm Duhs Commercial Inc.

Talks Continuing on Tourism Marketing District Lawsuit

Talks are continuing on a potential settlement of a citizen group’s lawsuit related to the funding mechanism for the San Diego Tourism Marketing District.

Trammell Crow Buys Land at Millenia for $15.45 Million

A local affiliate of Dallas-based Trammell Crow Residential Co. has acquired approximately 9.4 acres of land within Chula Vista’s Millenia development for $15.45 million, according to CoStar Group and public data.

Three Local Sport Chalet Stores Set for Closing

Three San Diego locations of Sport Chalet are slated to close, following an announcement by Vestis Retail Group that it is shutting all 47 U.S. locations of the sporting goods chain.

Port Is Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

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$40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

Port Moving Forward on National City Waterfront Improvements

San Diego port district commissioners have approved a review of a long-discussed waterfront park expansion and related business land-use enhancements proposed for National City.

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A $40M Mixed-Use Complex Debuting Soon in Rancho Santa Fe

Locally based developer Newport Pacific Inc. plans a mid-summer opening for Palma de la Reina, a $40 million mixed-use complex being built at the entrance to the Whispering Palms residential community in Rancho Santa Fe.

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