San Diego Business Journal

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Carlsbad Mall Renovation Brings in Cheesecake Factory, Yard House

The Cheesecake Factory and Yard House restaurants, along with clothing retailer Zara, will join the tenant roster in 2017 as part of an extensive renovation currently underway at The Shoppes at Carlsbad, mall operator Rouse Properties announced.

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Thella Bowens to Retire in March From Airport Authority CEO Post

Thella F. Bowens will retire on March 31, 2017, after 15 years as president and CEO of the San Diego County Regional Airport Authority, which operates San Diego International Airport.

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Convention Center’s 2016 Economic Impact: $1.1B

The San Diego Convention Center generated $1.1 billion in regional economic impact during fiscal year 2016, including $658 million in direct attendee spending, center operators reported.

Dual Agency Brings Up Questions of Fiduciary Transparency

LAW: Real Estate Agents Face Conflict Of Interest Issues

California moved last year to require disclosures by commercial real estate brokers who represent both the buyer and seller in a deal, reflecting an internal policy that already existed at many brokerages and the legal standard for residential brokers.

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Rancho Bernardo Office Property Housing Bel Fuse Sold for $3.5 Million

San Diego-based Sabin Holdings LLC has purchased a Rancho Bernardo office property currently housing Bel Fuse Inc. for $3.5 million, according to brokerage firm Colliers International Group Inc.

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Vista Retail Center Owner Obtains $37 Million in Refinancing

Owner ValCenters of Newport Beach has obtained $37 million in refinancing for North County Square, a grocery-anchored retail center in Vista, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

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Old Town Office Property to Become Hotel After $2.2 Million Purchase

San Diego-headquartered Hotel Investment Group (HIG) has acquired an Old Town office complex for $2.2 million, with plans to convert it into an extended-stay boutique hotel.

San Diego Airport Passenger Traffic Up 3.2 Percent So Far in 2016

Passenger traffic at San Diego International Airport increased 3.2 percent from a year ago in the first 10 months of 2016, topping 17.3 million, according to the latest monthly data from airport operators.

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Foodies Joining Breakfast Club

DINING: Morning Diners Get Inventive Menu, Hip Settings, Hearty Servings

Restaurateur Johan Engman is doubling down on his bet that San Diego’s burgeoning foodie culture can translate to breakfast hours, especially on weekdays, when time-strapped commuters increasingly scarf down fast-food fare in their cars or at their work desks.

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Three Tenants Pre-lease Space at Carlsbad Industrial Development

Developer RAF Pacifica Group has signed three tenants at a new speculative industrial project currently under construction in Carlsbad, including global hair products supplier Unite Eurotherapy.

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Developer Pinnacle International Buys Downtown Site for $14.5 Million

Vancouver, B.C.-based Pinnacle International has acquired a redevelopment site in downtown San Diego for $14.5 million, according to brokerage firm Marcus & Millichap.

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Convention Center Generated $1.1B in Economic Impact During Fiscal 2016

The San Diego Convention Center generated $1.1 billion in regional economic impact during fiscal year 2016, including $658 million in direct attendee spending, center operators reported.

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Los Angeles Firm Buys San Diego Apartments for $28 Million

James Investment Partners of Los Angeles has acquired an 85-unit apartment community near San Diego’s Mission Hills neighborhood for $28 million, according to brokerage firm Berkadia.

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North Golf Course at Torrey Pines Reopens After $12.6M Renovation

The North Course at Torrey Pines Golf Course was recently reopened following a comprehensive nine-month, $12.6 million renovation of the city-owned property.

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Santee Retail Center Sells for $27 Million

Union City Investments LLC of Santa Monica has purchased the Santee Town Center retail property for $27 million, according to the seller, Irvine-based Pacific Castle Management Inc.

Video Game Developer Psyonix Expands into Emmes’ Downtown Tower

San Diego-based video game developer Psyonix Inc. has signed a multiple-floor lease as it expands into downtown’s 1 Columbia Place, according to office tower owner Emmes Realty Services of California LLC.

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Andaz San Diego Opens New Meeting and Events Space After Renovation

Andaz San Diego has opened a new meeting and events space called The Gallery, following a $400,000 renovation at the Gaslamp Quarter hotel.

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Orchard Supply Hardware Opening First San Diego County Store

Home and garden retailer Orchard Supply Hardware plans a Nov. 29 opening for its first San Diego County store, at 8780 Navajo Road in San Diego. The location is near the city’s eastern border with La Mesa

Game Developer Psyonix Expands into Emmes’ Downtown Tower

San Diego-based video game developer Psyonix Inc. has signed a multiple-floor lease as it expands into downtown’s 1 Columbia Place, according to office tower owner Emmes Realty Services of California LLC.

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Andaz San Diego Opens New Meeting, Events Space After Renovation

Andaz San Diego has opened a new meeting and events space called The Gallery, following a $400,000 renovation at the Gaslamp Quarter hotel.

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Plenty of Projects Still in Downtown Residential Pipeline

At the mid-point of 2016, Civic San Diego reported that the red-hot downtown market had more than 11,000 apartment and condo units in the works. That included 4,401 units under construction, 4,868 approved and pending construction, and 1,776 with plans submitted and pending approval.

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Small Brewers Plan To Sell Abroad

BREWING: Pilot Program to Assist With Shipping Logistics

After several years spent burnishing San Diego County’s reputation as a major craft beer capital, local brewers and economic leaders now see international sales as key to maintaining the industry’s momentum — especially amid signs of slowing growth in the United States.

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HP Campus Buyer Obtains $90M for Purchase, Renovations

San Francisco-based Swift Real Estate Partners has obtained $90 million in financing for its recent acquisition and upcoming repositioning of the Rancho Bernardo office campus that it recently acquired from tech giant HP Inc.

San Diego Hotel Revenue Grows 4.1 Percent in First 10 Months

San Diego County hotels posted a 4.1 percent gain in revenue in the first 10 months of 2016, topping $2.29 billion, with year-over-year increases on most key metrics, according to the latest monthly data from research firm STR.

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Pacific Beach Retail Property Sold for $2.3 Million

SMP Realty LLC of San Marcos has purchased a Pacific Beach retail building for $2.3 million, according to brokerage firm Lee & Associates.

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Chula Vista Retail Property Sells for $5.1 Million

C3 Centers LLC of San Diego has acquired a retail showroom property in Chula Vista’s Eastlake neighborhood for $5.1 million, according to brokerage firm Pacific Coast Commercial.

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San Diego Apartment Property Sells for $156 Million

A Newport Beach buyer recorded as Trea Blvd63 LLC has acquired the 332-unit BLVD63 Apartments in San Diego’s Rolando neighborhood for $156 million, according to CoStar Group and public data.

Civic San Diego Awarded $50M from Community Development Fund

Civic San Diego, which oversees development projects in areas including the city’s low-income communities, announced that it has received a $50 million allocation from the Community Development Financial Institutions Fund.

Westcore Properties Garners $337.5M in New Acquisition Capital

San Diego’s Westcore Properties has obtained $337.5 million in financing from Almanac Realty Investors LLC, to fund future commercial property acquisitions.

Westcore Properties Garners $337.5 Million in New Acquisition Capital

San Diego’s Westcore Properties has obtained $337.5 million in financing from Almanac Realty Investors LLC, to fund future commercial property acquisitions.

Civic San Diego Awarded $50 Million from Community Development Fund

Civic San Diego, which oversees development projects in areas including the city’s low-income communities, announced that it has received a $50 million allocation from the Community Development Financial Institutions Fund.

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Miramar Retail, Office Properties Sold for $23.6 Million

Locally based 8990 Miramar Landing LP has acquired two retail and office properties in San Diego’s Miramar neighborhood for $23.6 million, according to Voit Real Estate Services.

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Retailers See Happy Holidays, But Politics Could Change That

RETAIL: Trump Factor is Unknown; Other Indicators Good

Retail industry leaders are generally upbeat on their local and national prospects for this year’s holiday season sales, starting with the traditional post-Thanksgiving “Black Friday” rush to shopping centers.

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Moderation Guides Company and Cuisine

DINING: Luna Grill Expands Steadily in Familiar Markets

Healthy — or at least relatively healthy — continues to reign at U.S. restaurants, where diners increasingly look to minimize the junk food intake while keeping the tab around $12 or less.

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Miramar Brewer Takes Top Local Honor for International Expansion

San Diego craft beer maker Rough Draft Brewing Co. has been awarded the $35,000 MetroConnect grand prize for its recent export expansion efforts and job growth, presented by World Trade Center San Diego.

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Alaska Airlines Announces New Nonstop Local Service to Baltimore

Alaska Airlines will offer new daily nonstop service between San Diego and Baltimore starting March 15, the carrier announced.

Report: Del Mar Heights Retail Corridor Among Priciest in Hemisphere

San Diego’s Del Mar Heights Road corridor is the 16th most expensive retail street in the Americas, according to a new global report by the commercial brokerage firm Cushman & Wakefield.

Homebuilder Buys San Diego Residential Land for $24.5 Million

Irvine-based homebuilder CalAtlantic Homes has acquired a 170-acre residential site in San Diego’s Del Sur master-planned community for $24.5 million, according to brokerage firm Colliers International Group Inc.

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Local Firm Buys National City Industrial Property for $12.2 Million

Stos Partners of Encinitas has acquired a National City industrial building for approximately $12.2 million, the company announced.

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Grocer Aldi Opening New Store in Chula Vista

Discount grocer Aldi Inc. has scheduled a Nov. 18 opening for its new store in Chula Vista, which will be its second location in San Diego County.

City Approves $79M Overhaul of Balboa Park’s Central Plaza

The San Diego City Council has approved a $79 million overhaul of Balboa Park’s central Plaza de Panama, slated to create more than six acres of vehicle-free parkland, gardens and plazas.

New REIT Focused on Medical-Use Cannabis Facilities Plans $175M IPO

A new San Diego-based real estate investment company, focused on medical-use cannabis facilities and led by former BioMed Realty CEO Alan Gold, has filed for a $175 million initial public offering of its common stock.

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San Diego Firm Buys Scottsdale Office Complex for $20 Million

San Diego-headquartered Parallel Capital Partners Inc. has acquired an office complex in Scottsdale, Ariz., for $20 million, the company announced.

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North Park Apartments Sell for $2.46 Million

Plotts Real Estate LP of San Diego has acquired a 10-unit apartment complex in the city’s North Park neighborhood for $2.46 million, according to brokerage firm Apartment Consultants Inc. (ACI)

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San Diego Firm Buys Historic Gaslamp Building for $7.1 Million

PREF Commerce, an affiliate of San Diego-based Paragon Real Estate Fund, has acquired a historic commercial building in downtown’s Gaslamp Quarter for $7.1 million, the company announced.

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Former Qualcomm Building Sells for $12.1M

San Diego-based Bollert LeBeau Inc. has purchased a former Qualcomm Inc. office campus building in Sorrento Mesa for $12.1 million, the investment and development firm announced.

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Irvine Firm Buys Vista Apartments for $6.2 Million

The Bascom Group LLC of Irvine has acquired a 32-unit apartment property in Vista for $6.2 million, the private equity firm announced.

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San Diego Firm Buys Historic Gaslamp Building for $7.1M

PREF Commerce, an affiliate of San Diego-based Paragon Real Estate Fund, has acquired an historic commercial building in downtown’s Gaslamp Quarter for $7.1 million, the company announced.

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Former Qualcomm Building Sells for $12.1 Million

San Diego-based Bollert LeBeau Inc. has purchased a former Qualcomm Inc. office campus building in Sorrento Mesa for $12.1 million, the investment and development firm announced.

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Manchester Moving to Recently Acquired Mister A’s Building

The former Sempra Energy tower in downtown San Diego will soon have another company name removed from its exterior, just a few months after its former co-owner, Manchester Financial Group, put its moniker on the Ash Street building.

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