San Diego Business Journal

Net Space Absorption Continues on Powerful Pace for 2016

REAL ESTATE: Retail And Apartment Vacancies Remain Very Low

Sustained job growth and a generally strong national and local economy continued to fuel demand for office and industrial space in San Diego County during 2016’s third quarter, as apartments saw another quarter of rising rents and dwindling vacancies amid construction rates that still lag far behind demand.

Tease photo

Industrial Demand Moves North; Developers Make Plans to Meet It

Afew years ago, when he led a local software company and was scouting North County for prospective industrial sites for his research-and-development efforts, Ben Badiee was able to find just four appropriate locations in the city of Escondido.

Tease photo

Voters Hand Chargers and Developers Defeat at Ballot Box

POLITICS: Measures A, B, C and D Fail; Team Ponders Its Next Move

San Diego Chargers Chairman Dean Spanos said the team was mulling its options after city voters firmly rejected a proposed hotel tax hike — Measure C — intended to finance a dual-purpose, $1.8 billion downtown stadium with convention facilities.

HP Inc. Sells 8-Building Rancho Bernardo Campus

Tech giant HP Inc. has sold its eight-building office campus in Rancho Bernardo to San Francisco-based Swift Real Estate Partners, with plans to lease back much of the campus. Pricing on the deal was not immediately disclosed by either party or their brokers.

Chargers Mull Next Step After Defeat of Stadium Measure

San Diego Chargers Chairman Dean Spanos said the team is mulling its options, after city voters firmly rejected a proposed hotel tax hike – Measure C -- intended to finance a dual-purpose downtown stadium with convention facilities.

Port District Formally Selects $1.2 Billion Central Embarcadero Project

San Diego port district commissioners have formally selected Protea Waterfront Development’s $1.2 billion proposal for a mixed-use redevelopment of the 70-acre Central Embarcadero site that currently includes Seaport Village.

Tease photo

Westcore Properties Buys Stockton Industrial Building for $6 Million

San Diego-headquartered Westcore Properties has acquired a Stockton industrial property for approximately $6 million, the investment company announced.

Tease photo

Vista Apartment Property Sold for $2.17 Million

Investors Mitchell Nibbelink and Huyen Huynh of San Francisco have acquired a 10-unit apartment property in Vista for $2.17 million, according to brokerage firm South Coast Commercial Inc.

Tease photo

Investment Firm Obtains $26.7M in Refinancing for Carlsbad Multifamily Property

Rancho Santa Fe-based Pacifica Enterprises recently obtained $26.7 million in refinancing for Bluwater Crossing, a Carlsbad multifamily property that it purchased last year.

Tease photo

New Homes Planned after $2.75M Land Buy in Encinitas

BM Family Trust of San Diego has purchased a 1.67-acre residential land parcel in Encinitas for $2.75 million, with plans to develop four single-family homes, according to brokerage firm Colliers International Group Inc.

Tease photo

Vista Retail Center Sells for $6.15 Million

Los Angeles-based Black Lion Investment Group has acquired a Vista retail center for $6.15 million, according to brokerage firm Marcus & Millichap.

Tease photo

Hillcrest Apartment Property Sells for $3.5 Million

Hillcrest Place LLC of Laguna Beach has acquired a 15-unit apartment property in San Diego’s Hillcrest neighborhood for $3.5 million, according to brokerage firm Palma Commercial.

Tease photo

Poway Industrial Buildings Sold for $24.6 Million

An affiliate of Newport Beach-based TA Realty has acquired a four-building portfolio of industrial buildings in Poway for $24.6 million, according to CoStar Group and public data.

Tease photo

Chelsea Completes $32.9M in Affordable Housing Projects

Carlsbad-based Chelsea Investment Corp. recently completed two affordable-housing projects in San Diego with a total of 80 units, representing a total of $32.9 million in development.

Tease photo

Manchester Buys Mister A’s Building in Bankers Hill for $71.5 Million

San Diego’s Manchester Financial Group, led by prominent local developer Douglas “Papa Doug” Manchester, announced that it has acquired the Bankers Hill property long known as the Mister A’s Building for $71.5 million.

Tease photo

$25 Million Gift is SDSU’s Largest; Endows Business School

EDUCATION: Fowlers’ Matching Donation Boosts Campaign to $750M Goal

Local philanthropist and San Diego Padres Executive Chairman Ron Fowler and his wife Alexis have pledged a $25 million endowment gift to San Diego State University’s College of Business Administration. University officials said the gift is the largest in SDSU’s 119-year history.

Tease photo

Yeast-Maker Joining Beer Migration East

CRAFT BEER: N.C. Facility Could Extend Market Share

Following similar moves by the region’s biggest craft beer-makers, Miramar’s White Labs Inc. is extending its production and distribution footprint well beyond San Diego County.

Tease photo

Vacation Rental Focus Shifts From Ban to Enforcement

HOSPITALITY: Council Rejects Proposed Change, Seeks Clarifications

Two years of debate over how to regulate short-term vacation rentals in the city of San Diego recently came to a head, as hundreds of residents packed a City Council meeting to debate competing approaches to the problem of nuisances being created by renters booking stays in private homes through sites including Airbnb.

Tease photo

Luna Grill Obtains $30M in Financing for Future Growth

Operators of the San Diego-headquartered Luna Grill restaurants have secured nearly $30 million in financing, to aid its ongoing growth strategy. The fast-casual eatery has 29 current locations, with another 18 in the pipeline for 2017.

Jerome’s Furniture Taps Bligh As New COO

San Diego-based Jerome’s Furniture has named Kevin Bligh as its new chief operating officer, heading the retailer’s financial and business operations.

Tease photo

San Diego Firm Buys La Mesa Apartments for $17 Million

An affiliate of San Diego-based John Jaffe Co. LP of San Diego has purchased a 60-unit apartment property in La Mesa for $17 million, according to brokerage firm CBRE Group Inc.

Tease photo

Convention Center Names New Chief Business Development Officer

Operators of the San Diego Convention Center have hired Mohsen Khaleghi to serve as the facility’s new senior vice president and chief business development officer.

Phoenix Firm Plans New Self-Storage Facilities After $27.8M in Building Purchases

Phoenix-based Wentworth Storage Co. LLC has acquired two industrial properties in San Diego and Chula Vista for a total of approximately $27.8 million, with plans to convert them into self-storage facilities, the development and investment firm announced.

La Mesa Apartment Building Sells for $10.9 Million

Real Asymmetry King LLC of San Diego has acquired an 80-unit apartment property in La Mesa for $10.9 million, according to brokerage firm South Coast Commercial Inc.

Ocean Beach Apartments Sold for $2.15 Million

Neel Pujara of Carlsbad and Green Storm LLC of La Palma have acquired an eight-unit apartment complex in San Diego’s Ocean Beach community for $2.15 million, according to brokerage firm Apartment Consultants Inc. (ACI)

Tease photo

Carlsbad Office Property Sold to L.A. Firm for $19 Million

An affiliate of Los Angeles-based The Wonderful Co. has purchased a Carlsbad office and industrial building for $19 million, according to CoStar Group and public data.

Tease photo

San Diego Firm Plans $25M Renovation of Arizona Center

San Diego’s Parallel Capital Partners will soon begin work on a $25 million renovation of Arizona Center, a mixed-use retail property in downtown Phoenix that it purchased last year.

Tease photo

Pacific Beach Apartment Property Sells for $3.3 Million

Calowa Investments LLC of Vermillion, South Dakota, has purchased a 10-unit apartment property in San Diego’s Pacific Beach neighborhood for $3.3 million, according to brokerage firm Apartment Consultants Inc. (ACI)

Tease photo

L.A. Company Buys Oceanside Industrial Building for $7.2 Million

Los Angeles-headquartered Rexford Industrial Realty Inc. has acquired an Oceanside industrial building for approximately $7.2 million, the company announced.

Tease photo

San Diego Apartment Property Sells for $3.37 Million

Tomic Villas Apartments San Diego LP, based in Newport Beach, has acquired an 18-unit apartment property in San Diego’s Rolando neighborhood for approximately $3.37 million, according to brokerage firm South Coast Commercial Inc.

Tease photo

Local Developer Plans $30M Carlsbad Industrial Project After Land Buy

RAF Pacifica Group has announced plans for a new $30 million speculative industrial building in Carlsbad, the latest of several North County projects planned by the Encinitas-based company.

San Diego Hotels Posting 2016 Gains in Key Metrics

San Diego County hotels saw total revenue rise 4.6 percent from a year ago in 2016’s January-to-September period, topping $2.08 billion, according to the latest monthly data from industry research firm STR.

S.D. Airport Passenger Traffic Up 3.4 Percent So Far in 2016

Passenger traffic at San Diego International Airport rose 3.4 percent from a year ago in the first nine months of 2016, topping 15.5 million, according to the latest monthly data from the San Diego County Regional Airport Authority.

Tease photo

Developer Plans $16 Million Industrial Campus in Escondido

Badiee Development Inc. plans to build a new $16 million industrial campus in Escondido, the second industrial project in that city to be announced recently by the San Diego-based developer.

Tease photo

Golden Hill Apartment Property Sells for $2.8M

Investor Alex Mincks of San Diego’s Mincks Family Trust has acquired an 11-unit apartment property in the city’s Golden Hill neighborhood for $2.8 million, according to brokerage firms Apartment Consultants Inc. (ACI) and Apartment Realty Group.

San Diego Hotels Posting 2016 Gains in Revenue, Other Key Metrics

San Diego County hotels saw total revenue rise 4.6 percent from a year ago in 2016’s January-to-September period, topping $2.08 billion, according to the latest monthly data from industry research firm STR.

Tease photo

San Diego Airport Passenger Traffic Up 3.4 Percent So Far in 2016

Passenger traffic at San Diego International Airport rose 3.4 percent from a year ago in the first nine months of 2016, topping 15.5 million, according to the latest monthly data from the San Diego County Regional Airport Authority.

Tease photo

Golden Hill Apartment Property Sells for $2.8 Million

Investor Alex Mincks of San Diego’s Mincks Family Trust has acquired an 11-unit apartment property in the city’s Golden Hill neighborhood for $2.8 million, according to brokerage firms Apartment Consultants Inc. (ACI) and Apartment Realty Group.

Tease photo

Developer Plans a $16 Million Industrial Campus in Escondido

Badiee Development Inc. plans to build a new $16 million industrial campus in Escondido, the second industrial project in that city to be announced recently by the San Diego-based developer.

County’s Construction Starts Rose 31 Percent in First Nine Months of 2016

San Diego County’s construction starts rose 31 percent from a year ago in the first nine months of 2016, topping $3.18 billion in value, according to the latest monthly figures from Dodge Data & Analytics.

Third Quarter Revenue Rises 7.1 Percent at Realty Income Corp.

Total third-quarter revenue at Realty Income Corp. rose 7.1 percent from a year ago, reaching $277.2 million for the period ending Sept. 30, the San Diego-headquartered company reported.

Tease photo

Carlsbad Office Buildings Sold for $5.8 Million

El Segundo-based Alvarez & Marsal Capital Real Estate LLC has acquired two Carlsbad office buildings for a total of $5.8 million, according to brokerage firm Cushman & Wakefield.

Tease photo

Beer Week Pairs Well With Time and Place

TOURISM: November Dates Fill Void, Attract Good Mix

Hotel operator Elvin Lai knows first-hand that the annual San Diego Beer Week delivers a potent business kick to what is otherwise a so-so period for the local hospitality industry.

Tease photo

Fowlers’ Name to Adorn SDSU Business School After $25M Gift

Local philanthropist and San Diego Padres Executive Chairman Ron Fowler, with his wife Alexis, have pledged a $25 million endowment gift to San Diego State University’s College of Business Administration. University officials said the gift is the largest in SDSU’s 119-year history.

Tease photo

City Heights Apartments Sell for $2.09 Million

Xavier Family Trust of Del Mar has purchased a 14-unit apartment building in San Diego’s City Heights neighborhood for $2.09 million, according to brokerage firm South Coast Commercial Inc.

Tease photo

San Diego Retail Center Sells for $8.1 Million

Diversified Properties of Solana Beach has acquired the Bay City Plaza retail center in southern San Diego for $8.1 million, according to brokerage firms Voit Real Estate Services and Cushman & Wakefield.

Tease photo

Developer Gets $145M in Refinancing for UTC Apartments

San Diego-based developer The Premiere Residential has obtained $145 million in refinancing for two apartment communities in University Towne Center, according to CBRE Group Inc., which arranged the financing.

ROIC Posts Revenue Increase in Third Quarter

San Diego-based Retail Opportunity Investments Corp. posted an 18.5 percent increase in total third-quarter revenue from a year ago, reaching $59.4 million for the period ending Sept. 30.

Tease photo

BNBuilders Gets $23.8 Million Contract For UCLA’s Geffen Academy

The San Diego office of general contractor BNBuilders was recently awarded a $23.8 million contract to build Geffen Academy, a new college preparatory school on the campus of University of California Los Angeles.

Tease photo

El Cajon Medical Office Property Sold for $3.27 Million

Thu Tran and Lisa Tran Trust of La Jolla has acquired an El Cajon medical office complex for $3.27 million, according to brokerage firm The Heritage Group.

Page of .