San Diego Business Journal

Rental Property Tech Firm Mynd Buys Pacific Shore Management

Oakland-headquartered Mynd, which describes itself as a “tech-powered” residential rental property management company, has acquired San Diego-based Pacific Shore Management for an undisclosed price.

By Lou Hirsh August 30, 2017 4:25 p.m. share »
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Another Big Downtown Deal: 600 B Tower Sells for $109.5 Million

New York City-based Rockwood Capital LLC has acquired the downtown San Diego office tower at 600 B St. for $109.5 million, according to real estate services firm Holliday Fenoglio Fowler LP (HFF).

By Lou Hirsh August 29, 2017 1:10 p.m. share »

Tracking Big Commercial Deals: First Half Saw Slowdown in San Diego

Things appear to be slowing down lately when it comes to big-ticket commercial real estate investment deals in San Diego County.

By Lou Hirsh August 29, 2017 12:36 p.m. share »
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Westcore Buys Moreno Valley Industrial Property for $30.71 Million

San Diego-headquartered Westcore Properties has acquired an industrial building in Moreno Valley for $30.71 million, with cosmetic improvements slated to start immediately, the company announced.

By Lou Hirsh August 29, 2017 11:10 a.m. share »

Southwest Adding Direct Local Service to Puerto Vallarta

Southwest Airlines is adding new non-stop flights in 2018 from San Diego to Puerto Vallarta, Mexico, along with Newark, N.J. and El Paso, Texas, the Dallas-based carrier announced

By Lou Hirsh August 28, 2017 4:16 p.m. share »
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Developer Plans $103.5M Mixed-Use Project in Pacific Beach

The San Diego regional office of Texas-based developer JPI plans a Sept. 6 ground-breaking for Jefferson Pacific Beach, a $103.5 million, mixed-use luxury apartment community adjacent to Mission Bay Park.

By Lou Hirsh August 28, 2017 4:13 p.m. share »
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Kearny Mesa Office Buildings Sold for $18.5 Million

Protea Aero Drive LLC of San Diego has acquired two neighboring office buildings in Kearny Mesa for $18.5 million, according to brokerage firm Voit Real Estate Services.

By Lou Hirsh August 28, 2017 4:13 p.m. share »
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Golden Hill Apartment Property Sells for $4.9 Million

San Diego-based Fenway Properties III LLC has acquired a 20-unit apartment property in the city’s Golden Hill neighborhood for $4.9 million, according to CoStar Group and public data.

By Lou Hirsh August 28, 2017 4:12 p.m. share »

County Construction Starts Down 17% for First 7 Months of 2017

Following a third consecutive month of declining activity compared with a year ago, San Diego County’s construction starts are down 17 percent in value for the first seven months of 2017, at just over $2.16 billion, according to Dodge Data & Analytics.

By Lou Hirsh August 27, 2017 1:13 p.m. share »

Work Starting on Dual-Brand Hilton Campus in Chula Vista

Carlsbad-based hotel operator Sethi Management Inc. plans an Aug. 28 ground-breaking for a new 204-room, dual-branded Hilton campus being developed in Chula Vista’s Eastlake neighborhood.

By Lou Hirsh August 27, 2017 1:12 p.m. share »

County Construction Starts Down 17 Percent for First 7 Months of 2017

Following a third consecutive month of declining activity compared with a year ago, San Diego County’s construction starts are down 17 percent in value for the first seven months of 2017, at just over $2.16 billion, according to Dodge Data & Analytics.

By Lou Hirsh August 25, 2017 10:36 a.m. share »

Work Is Starting on Dual-Brand Hilton Campus in Chula Vista

Carlsbad-based hotel operator Sethi Management Inc. plans an Aug. 28 ground-breaking for a new 204-room, dual-branded Hilton campus being developed in Chula Vista’s Eastlake neighborhood.

By Lou Hirsh August 25, 2017 10:28 a.m. share »
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Sold Again: San Francisco Firm Buys Downtown’s Five Thirty B for $57.7M

San Francisco-based Swift Real Estate Partners has purchased the Five Thirty B office tower in downtown San Diego for $57.7 million, according to CoStar Group and public data. This marks the third time the 1960s-vintage property has changed hands since early 2014.

By Lou Hirsh August 24, 2017 4:17 p.m. share »
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Legoland California Resort Opening New Submarine Ride in 2018

Operators of Legoland California Resort in Carlsbad plan to debut a new submarine-themed ride called Lego City Deep Sea Adventure, opening in 2018 following a previously announced castle-themed hotel that is currently under construction.

By Lou Hirsh August 24, 2017 4:13 p.m. share »
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New Tastes Coming to Rancho Santa Fe, Coronado

Nick & G’s, featuring Mediterranean and Italian style dishes, recently opened at 6106 Paseo Delicias in Rancho Santa Fe, the former site of Ponsaty’s. The executive chef is Brian Freerksen and the owner is Sandra DiCicco, who heads locally based Grand Restaurant Group, the operator of several area venues including Bellamy’s Restaurant in Escondido.

By Lou Hirsh August 24, 2017 2:30 p.m. share »
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Craft Beer’s Footprint Makes It A Player in the Property Market

Craft beer pairs quite well with commercial real estate, especially if you have an industrial property you’d like to sell or lease out.

By Lou Hirsh August 24, 2017 2:28 p.m. share »
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Green Flash Hops On Heartland Opportunity

For about the past year, Mike Hinkley had been carefully researching Nebraska and other potential Midwest expansion options for Green Flash Brewing Co., the Mira Mesa company he co-founded in 2002 with wife Lisa.

By Lou Hirsh August 24, 2017 12:20 p.m. share »

Exec Q&A: Marty Birkel, Ballast Point Brewing Co.

Already the largest San Diego-based beer-maker — and now the 13th biggest in the U.S. based on 2016 production volume — Ballast Point Brewing Co. has been ramping up its new East Coast production facilities in Virginia.

By Lou Hirsh August 23, 2017 4:13 p.m. share »
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Seven New Retail Tenants Join Roster at Barrio Logan Center

Seven new tenants, including five restaurants, have joined the retail lineup at the mixed-use Mercado del Barrio in San Diego’s Barrio Logan neighborhood, center owner Shea Properties announced.

By Lou Hirsh August 23, 2017 4:12 p.m. share »
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San Diego Firm Gets $17.8M in Refinancing for Property Near Seattle

San Diego-based Nexus Properties Inc. has obtained $17.8 million in refinancing for a life science building that it owns in suburban Seattle, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

By Lou Hirsh August 23, 2017 4:10 p.m. share »

Report: Craft Beer Still Brews Up Plenty of Real Estate Impact

Craft beer remains a key generator of commercial real estate traffic both nationally and locally – especially in the industrial and retail realms -- even with a continued nationwide slowdown in the growth of craft brew sales.

By Lou Hirsh August 22, 2017 4:17 p.m. share »

Mission Valley Joe’s Crab Shack Among 40 Nationwide Closings

Joe’s Crab Shack recently closed its restaurant in Mission Valley, among at least 40 abrupt closings carried out nationwide since early August by the struggling chain amid bankruptcy proceedings.

By Lou Hirsh August 22, 2017 4:11 p.m. share »
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San Diego International Airport Passenger Traffic Rises 5.3%

Passenger traffic at San Diego International Airport rose 5.3 percent from a year ago for the January-to-July period, topping 12.5 million, according to the latest monthly numbers from the San Diego County Regional Airport Authority.

By Lou Hirsh August 21, 2017 3:16 p.m. share »

Region’s Hotel Revenue Up 6.7% for First 7 Months of 2017

San Diego County hotel revenue rose 6.7 percent from a year ago in the first seven months of 2017, topping $1.69 billion, as the region continued to post strong numbers for its peak summer tourism season, according to the latest monthly data from research firm STR.

By Lou Hirsh August 21, 2017 3:15 p.m. share »
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Blackstone Group Refinances Hotel Del

Unable to sell off Hotel del Coronado last year, owner Blackstone Group has instead decided to refinance the iconic property.

By Lou Hirsh August 20, 2017 1:04 p.m. share »
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Industrial Building Sells for $11.5 Million

The local regional office of Dallas-based Lincoln Property Co. has acquired an industrial facility in San Diego’s Morena neighborhood for $11.5 million, according to brokerage firm Cushman & Wakefield and CoStar Group data.

By Lou Hirsh August 20, 2017 1 p.m. share »
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San Diego Industrial Building Sells for $11.5 Million

The local regional office of Dallas-based Lincoln Property Co. has acquired an industrial facility in San Diego’s Morena neighborhood for $11.5 million, according to brokerage firm Cushman & Wakefield and CoStar Group data.

By Lou Hirsh August 18, 2017 1:06 p.m. share »
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Blackstone Group Refinances Hotel Del Coronado

Unable to sell off Hotel del Coronado last year, owner Blackstone Group has instead decided to refinance the iconic property.

By Lou Hirsh August 18, 2017 12:53 p.m. share »
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Raising Cane’s to Spice Up Competition

A fast-rising national player in the game of fast-food chicken, Louisiana-based Raising Cane’s Chicken Fingers, is about to make its first local arrival in the city of Santee.

By Lou Hirsh August 17, 2017 3:37 p.m. share »

Is It Time to Put Your Money in Storage?

The brokerage firm Marcus & Millichap anticipates that San Diego County’s rising housing unit completions, especially on the apartment side, will translate into increasing demand for self-storage units this year.

By Lou Hirsh August 17, 2017 3:35 p.m. share »
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North City Looks to Check All The Boxes in Smart Growth

More than 25 years after the opening of California State University San Marcos, the city is now seeing elements of a long-sought “college town’’ come together near state Route 78.

By Lou Hirsh August 17, 2017 3:08 p.m. share »
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Getting There: The Golden Triangle

As San Diego braces for potentially more gridlock in the already congested Golden Triangle area — fueled by dozens of public and private construction projects moving forward over the next five years — the consensus among local commercial real estate brokers is that patience will be rewarded in the long run.

By Lou Hirsh August 17, 2017 3:03 p.m. share »
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Executive Q&A Marty Birkel, Ballast Point Brewing Co.

Already the largest San Diego-based beer-maker — and now the 13th biggest in the U.S. based on 2016 production volume — Ballast Point Brewing Co. has been ramping up its new East Coast production facilities in Virginia. The company in June opened a tasting room in suburban Roanoke, where the brewer has invested nearly $50 million in its newest operations.

By Lou Hirsh August 17, 2017 2:49 p.m. share »

New Carrier Launching Direct Flights Between Carlsbad, Las Vegas

Locally based commercial carrier Cal Jet by Elite Airways plans a Sept. 28 launch of service between Carlsbad and Las Vegas.

By Lou Hirsh August 16, 2017 3:01 p.m. share »
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Westcore Enters Portland Investment Market with $38.7M Industrial Deal

San Diego-headquartered Westcore Properties has acquired an industrial park in Vancouver, Wash., for $38.7 million, marking the investment company’s entrance into the Portland, Ore., metro market.

By Lou Hirsh August 16, 2017 2:56 p.m. share »
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Emmes Renovating Lobby, Plaza at Downtown Tower

Property owner Emmes Realty Services of California LLC has begun a multimillion-dollar renovation of the Seventh Avenue plaza and atrium lobby at its office tower at 701 B St. in downtown San Diego.

By Lou Hirsh August 16, 2017 1:05 p.m. share »
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Green Flash Brewing Expands Production Into Nebraska

San Diego-based Green Flash Brewing Co. plans to expand into Nebraska, with a Lincoln production facility and tasting room set to open by the end of this year.

By Lou Hirsh August 16, 2017 10:50 a.m. share »
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Next Frontier for Amazon: Faster Delivery of Munchies

Amazon Inc. continues to grow its presence in San Diego County. And students at UC San Diego likely will be among the next beneficiaries of super-quick delivery of snacks, drinks and other college essentials, via another new offering from the e-commerce giant.

By Lou Hirsh August 15, 2017 12:54 p.m. share »
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Golf Legend Johnny Miller Signs On for Redesigns at Warner Springs Ranch

Operators of Warner Springs Ranch Resort have signed a deal with pro golf hall-of-famer and broadcaster Johnny Miller and his namesake course design firm for upcoming improvements to the North County property.

By Lou Hirsh August 14, 2017 4:59 p.m. share »

New Industrial Facility Planned After $4.68M Santee Land Buy

An entity listed as Cuyamaca West Partners LLC of El Cajon has acquired a 7.28-acre industrial land parcel in Santee for approximately $4.68 million, according to CoStar Group and public data.

By Lou Hirsh August 14, 2017 4:44 p.m. share »
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Construction Starts on New Medical Office Complex in Escondido

Construction has started on the first of what will be a three-building, privately financed medical office complex on the campus of Palomar Medical Center in Escondido.

By Lou Hirsh August 14, 2017 11:35 a.m. share »
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Construction Starting on Retail Center, Hotel at Millenia in Chula Vista

Developers have slated an Aug. 15 ground-breaking for the Millenia Commons retail center and a 135-room Ayres Hotel, being built at the Millenia mixed-use development in Chula Vista.

By Lou Hirsh August 13, 2017 1:05 p.m. share »

Operator of Rock ’n’ Roll Marathon Plans Local Job Cuts

Competitor Group Inc., which owns the popular Rock ’n’ Roll Marathon series of long-distance running events that started in San Diego in 1998, has informed the state that it plans to lay off up to 145 local workers effective Nov. 15, as its new parent company moves personnel to its global headquarters in Florida.

By Lou Hirsh August 13, 2017 1:05 p.m. share »
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Greystone Completes First Phase of $7 Million Renovation at Bristol Hotel

Operator Greystone Hotels has completed the first phase of a planned $7 million renovation at its downtown San Diego property, known as The Bristol San Diego.

By Lou Hirsh August 13, 2017 1:04 p.m. share »

Rock ’n’ Roll Marathon Operator Plans Local Job Cuts

Competitor Group Inc., which owns the popular Rock ’n’ Roll Marathon series of long-distance running events that started in San Diego in 1998, has informed the state that it plans to lay off up to 145 local workers effective Nov. 15, as its new parent company moves personnel to its global headquarters in Florida.

By Lou Hirsh August 11, 2017 4:04 p.m. share »
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Operator Completes First Phase of $7M Renovation at Bristol Hotel

Operator Greystone Hotels has completed the first phase of a planned $7 million renovation at its downtown San Diego property, known as The Bristol San Diego.

By Lou Hirsh August 11, 2017 12:56 p.m. share »
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Construction Starting on Retail Center, Hotel at Millenia

Developers have slated an Aug. 15 ground-breaking for the Millenia Commons retail center and a 135-room Ayres Hotel, being built at the Millenia mixed-use development in Chula Vista.

By Lou Hirsh August 11, 2017 12:11 p.m. share »
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Sorrento Mesa Office Building Sells for $16.3 Million

Rancho Santa Fe-based Premier Realty Holdings Inc. has acquired the Wateridge Pavilion office building in Sorrento Mesa for $16.3 million, according to brokerage firm CBRE Group Inc.

By Lou Hirsh August 10, 2017 4:01 p.m. share »

An Audubon Land Deal, Plus 2 Coming Business Arrivals

A local chapter of The Audubon Society, the prominent nature-preservation organization, has acquired approximately 31.2 acres of vacant land in Oceanside for $1.56 million, with plans to conserve it as an open space in perpetuity. Brokerage firm Lee & Associates said the land on Muirfield Drive and Rivertree Drive — near Camp Pendleton and Mission San Luis Rey — is currently unentitled.

By Lou Hirsh August 10, 2017 1:47 p.m. share »
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Medical Office Diagnosis: Good for Landlords

Landlord-friendly metrics in San Diego County’s medical office property market may help explain why two large East Coast investment firms recently decided to enter the East County market with a big $33 million acquisition in La Mesa.

By Lou Hirsh August 10, 2017 1:46 p.m. share »

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