San Diego Business Journal

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McCarthy Moves San Diego Office to Kearny Mesa

General contractor McCarthy Building Companies Inc. has relocated its San Diego operations to larger facilities in the Kearny Mesa neighborhood.

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Construction Company Buys El Cajon Industrial Buildings for $5 Million

Cameron Brothers Construction Co. LP has purchased four adjacent industrial buildings in El Cajon for $5 million, according to brokerage company Pacific Coast Commercial, which represented the seller.

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Airport Green Build Named Best Project by Engineering News-Record

The $907 million Green Build Terminal 2 expansion at San Diego International Airport was recently named Best Project, in annual awards bestowed by the industry news publication Engineering News-Record, published by McGraw-Hill Construction.

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Partnership Plans $12.5 Million Renovation of Westminster Manor

Chelsea Investment Corp. has entered into a $28.6 million joint venture with the current property owner to acquire and renovate the 152-unit Westminster Manor senior housing building in downtown San Diego, according to brokerage company Colliers International.

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Civic San Diego Seeking Advisor for Housing Development Fund

Civic San Diego, the city’s downtown project oversight agency, has issued a request for proposals for professional advisory services, related to plans by the organization to form a transit-oriented development investment fund.

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Carlsbad Office Building Sells for $4.85 Million

An affiliate of Hyspan Precision Products Inc. of Chula Vista has purchased a Carlsbad office building for $4.85 million, according to CoStar Group and public data.

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MG Properties Buys 2 Apartment Properties for $50 Million

San Diego-based MG Properties Group has acquired two apartment properties in Napa and Tempe, Ariz., for a total of approximately $50 million, the private investment firm announced.

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La Mesa Rental Condos Sold for $28.3 Million

Partnerships controlled by San Diego-based R&V Management Corp. have purchased the 124-unit Central Park condominium rental property in La Mesa for $28.3 million, according to CBRE Group Inc., which represented the seller.

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Local Firm Buys Napa, Tempe Apartments for $50 Million

San Diego-based MG Properties Group has acquired two apartment properties in Napa and Tempe, Ariz., for a total of approximately $50 million, the private investment firm announced.

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Rental Condos in La Mesa Sold for $28.3 Million

Partnerships controlled by San Diego-based R&V Management Corp. have purchased the 124-unit Central Park condominium rental property in La Mesa for $28.3 million, according to CBRE Group Inc., which represented the seller.

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SDSU Begins Work on $143 Million Mixed-Use Project

San Diego State University has broken ground on South Campus Plaza, a $143 million mixed-use student housing and retail project slated for completion in fall 2016.

Group Readies to Build Up Region’s Tourism Reputation, Revenue

TOURISM: Promotion Key To Competing for Visitors, Increasing Hotels’ Business

A year after political turmoil disrupted its funding, handicapping its ability to compete for visitors, the San Diego Tourism Marketing District is pushing forward with efforts to boost local hotel revenue.

Getting Input on Projects Is a Work in Progress

PROPERTY: Community Involvement Requires More Than Meetings

If the gospel of smart growth isn’t resonating with residents of many San Diego neighborhoods, especially the younger generation, is there a problem with the message? Or is it the messenger, or even the delivery method?

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George’s Camera Still in the Picture

RETAIL: San Diego Icon Defies Trends, Opens New Store

The growing army of cellphone selfie-takers is just the latest in a long series of challenges facing specialty camera stores such as George’s Camera in San Diego.

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North Park Apartment Complex Sells for $3.28 Million

Bill N. Shepard Trust of El Cajon has acquired an 18-unit apartment complex in San Diego’s North Park neighborhood for approximately $3.28 million, according to CoStar Group and public data.

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SeaPort Airlines Plans New Local Service to San Felipe

SeaPort Airlines plans to begin non-stop service between San Diego and San Felipe, in the Mexico state of Baja California, on Dec. 15.

$60 Million East Village Apartment Project Approved

Civic San Diego, the city’s downtown project oversight agency, has approved plans for the $60 million Broadstone Makers Quarter, a 269-unit mixed-use apartment project to be built in East Village.

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SDSU Begins Work on $143 Million Mixed-Use Project

San Diego State University has broken ground on South Campus Plaza, a $143 million mixed-use student housing and retail project slated for completion in fall 2016.

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SoCal Penske Dealer Group Acquires Drew Ford

SoCal Penske Dealer Group of Los Angeles has acquired Drew Ford and Drew Hyundai in La Mesa, both part of a family-run dealership company established in 1927, for an undisclosed price.

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Imperial Beach Apartment Property Sells for $5.5 Million

Imperial Beach Resort LLC of Henderson, Nev., has purchased Beach Town Rentals, a 31-unit apartment property in Imperial Beach, for $5.5 million, according to CoStar Group and public data.

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Ralphs Plans to Hire 1,200 in Southern California

Ralphs Grocery Co. of Los Angeles has announced plans to fill an estimated 1,200 permanent positions at its supermarkets in Southern California.

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Dec. 1 Groundbreaking Slated for New Little Italy Plaza

The Little Italy Association and San Diego-based developer H.G. Fenton Co. plan a Dec. 1 groundbreaking for Piazza Famiglia, a 10,000-square-foot public plaza serving the downtown neighborhood.

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Pizzeria Mozza Restaurant at The Headquarters Closing

Restaurant operator Batali & Bastianich Hospitality Group has announced a Nov. 30 closing for its Pizzeria Mozza in downtown San Diego, which opened a year ago among the first tenants at The Headquarters at Seaport District.

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San Marcos Retail Center Sells for $5.25 Million

A buyer recorded as Oda LLC has purchased a San Marcos retail center for $5.25 million, according to the brokerage company Pacific Coast Commercial, which represented the buyer.

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Chula Vista Retail Property Sells for $9.8 Million

An affiliate of Paragon Real Estate Fund of San Diego has purchased the retail portion of the mixed-use Heritage Town Center in Chula Vista for $9.8 million, according to CoStar Group and public data.

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Vista Industrial Building Sells for $13.55 Million

An entity listed as KI-Vista-LPSM LLC has purchased a building at Vista Business Park for $13.55 million, which it is leasing to Escondido-based Stone Brewing Co. for a previously confirmed new distribution center, according to brokerage company Cushman & Wakefield Inc.

Rudolph and Sletten Awarded $60 Million Contract at Southwestern College

The San Diego office of general contractor Rudolph and Sletten was recently awarded the construction contract for a $60 million Math, Science and Engineering Building planned at Southwestern College in Chula Vista.

$60 Million Math-Science Building Planned at Southwestern College

The San Diego office of general contractor Rudolph and Sletten was recently awarded the construction contract for a $60 million Math, Science and Engineering Building planned at Southwestern College in Chula Vista.

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Historic Britt-Scripps House in Bankers Hill Sold

New Romax Inc. of El Monte has purchased the historic Britt-Scripps House, in San Diego’s Bankers Hill neighborhood, for $2.9 million, according to brokerage company Colliers International.

Indoor Skydiving Facility Planned for Mission Valley

Austin-based iFly Holdings LLC has announced plans for a $10 million entertainment facility in Mission Valley, with high-powered wind tunnel systems providing an indoor skydiving experience.

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Kilroy Begins Work on $45 Million Del Mar Heights Office Project

PROPERTY: It Is Aiming to Meet LEED Gold Standards

Kilroy Realty Corp. of Los Angeles has begun construction on a new $45 million office building, which officials said is the first speculative construction in eight years in San Diego’s Del Mar Heights submarket.

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Into the Spotlight

PROPERTY: National Investors Find Deals in San Diego Market

San Diego recently placed 24th in a global ranking of cities based on commercial property investment dollar volume for the year ending June 30.

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Vista Industrial Building Sells for $13.55 Million

An entity listed as KI-Vista-LPSM LLC has purchased a building at Vista Business Park for $13.55 million, which it is leasing to Escondido-based Stone Brewing Co. for a previously confirmed new distribution center, according to brokerage company Cushman & Wakefield Inc.

Alliance Plans 7-Story Mixed-Use Project in the East Village

It turns out that Alliance Residential Co. wasn’t through with downtown San Diego when it recently decided to sell its 203-unit Broadstone Little Italy for $102.5 million, not long after completing the project earlier this year.

Green Flash Brewing Acquires Alpine Beer Co.

Green Flash Brewing Co. of San Diego has announced it is acquiring the East County-based Alpine Beer Co. for an undisclosed price.

Loan Distress On the Decline

PROPERTY: Glut of Loans Coming Due Should Be OK

Thanks to an improving commercial real estate climate, San Diego-based Douglas Wilson Cos. has witnessed a steady decline in bank foreclosures on properties since the end of the Great Recession, meaning less need for its bank- and court-appointed property disposition services, though there are still pockets of those cases being handled by the company’s four offices nationwide.

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Movie Plays Supporting Role for Legoland

TOURISM: Attraction Builds On Attention Film Generates

An old-school toymaker went Hollywood in a big way this year, as “The Lego Movie” racked up more than $468 million in global ticket sales.

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Kilroy Begins Work on $45 Million Del Mar Heights Office Project

Kilroy Realty Corp. of Los Angeles has begun construction on a new $45 million office building, which officials said is the first speculative construction in eight years in San Diego’s Del Mar Heights submarket.

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Historic Britt-Scripps House in Bankers Hill Sold for $2.9 Million

New Romax Inc. of El Monte has purchased the historic Britt-Scripps House, in San Diego’s Bankers Hill neighborhood, for $2.9 million, according to brokerage company Colliers International.

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La Mesa Apartment Property Sells for $5.4 Million

Lenrae LLC of La Mesa has purchased a 27-unit apartment building in that city for approximately $5.4 million, according to CoStar Group and public data.

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Reebok Opening Two FitHub Stores in San Diego

Fitness apparel and equipment maker Reebok International Ltd. is opening four Southern California locations of a new retail chain known as Reebok FitHub, including two in San Diego.

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Chula Vista Apartment Property Sells for $22.56 Million

Sunwest Management Co. of La Mesa has purchased the 94-unit One Park apartment community in Chula Vista for $22.56 million, according to CoStar Group and public data.

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Green Flash Brewing Acquires Alpine Beer Co.

Green Flash Brewing Co. of San Diego has announced it is acquiring the East County-based Alpine Beer Co. for an undisclosed price.

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Oceanside Retail Buildings Sold for $4.1 Million

Pier View LLC of Glendora has purchased three Oceanside retail buildings for $4.1 million, according to CoStar Group and public data.

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Safeway Division Opens New Retail Center in Carlsbad

Property Development Centers LLC, a division of Pleasanton-based Safeway Inc., recently held a soft opening for La Costa Town Square, a new Vons-anchored retail center in Carlsbad.

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Encinitas-Based Developer a Partner in $360M Mixed-Use Resort

A partnership that includes Encinitas-based developer The Robert Green Co. has secured La Quinta City Council approvals for a planned $360 million mixed-use resort in that Coachella Valley community.

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Two Coronado Retail Properties Purchased for $4.25 Million

A Newport Beach entity recorded as Russell E. Fluter Separate Property Trust has purchased two Coronado retail properties for $4.25 million, according to CoStar Group and public data.

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Small Ramona Brewer Gets Financial Assist From Big Player

BREWING: ChuckAlek Also Chosen For Boston Mentoring Program

Among the dozens of craft brewers serving up suds during the annual San Diego Beer Week – which kicked off Nov. 7 and was slated to run through Nov. 16 – are several smaller players who required a little financial help from friends and family to stake their claim in the increasingly competitive industry.

Tourism Group Streamlines Efforts to Nab More Sports Events

MARKETING: SDTA Gets Sports Commission Funds, Leadership Role

With the region recently landing the Breeder’s Cup for 2017, local sports and tourism marketing officials are streamlining efforts to lure more high-profile, hotel-room-night-generating sports events to San Diego.

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Coronado Retail Buildings Sell for $4.25 Million

A Newport Beach entity recorded as Russell E. Fluter Separate Property Trust has purchased two Coronado retail properties for $4.25 million, according to CoStar Group and public data.