Daily Business Report — January 12, 2010
Hotel Ivy to be Rebranded
Hotel Ivy, a small boutique property in San Diego’s Gaslamp Quarter, will soon be rebranded as an Andaz and operated by Hyatt Hotels, a move that has spurred criticism from members of San Diego’s LGBT community. They say Hyatt specifically markets its Andaz brand to the gay community but continues its relationship with Doug Manchester of the Manchester Grand Hyatt, who contributed $125,000 to the Yes on Prop. 8 campaign. The initiative banned same-sex marriage in California.
On Feb. 1, Hotel Ivy will become Andaz San Diego. The Hyatt Corp. will operate the hotel under a management agreement with Kelly Capital, the property’s owner.
The property at Sixth Avenue and F Street originally opened as the Maryland Hotel in 1914 to host dignitaries for the Panama-California Exposition. Following extensive renovations and upgrades, it was re-opened in May 2007 and transformed by Michael Kelly of Kelly Capital. “We are pleased to team up with Hyatt to bring Andaz to San Diego,” said Kelly. “The momentum of this new and refreshing brand fits the hotel property and its reputation in the community. We are evolving to provide an even better experience for our guests and to increase the excitement around the hotel’s hot spots for nightlife, including Ivy Rooftop, Ivy Nightclub and Ivy Ultra Lounge and Wine Bar, while having the backing of the deep culture and experienced management teams of Hyatt.”
“Hyatt has a history of marketing Andaz hotels to the LGBT community,” said activist Cleve Jones. “Here in San Diego, the community understands that in the fight for marriage equality, Hyatt is not on our side.”
Burnham-Moores Center’s Real Estate Confab Set for Jan. 29
The Burnham-Moores Center for Real Estate will conduct its 14th annual Real Estate Conference on Jan. 29 featuring real estate icon Sam Zell as keynote speaker and two panel talks. It will be held from 7:30 a.m. to noon at the Hilton San Diego Bayfront. Zell is an expert on strategic management, capital markets, securitization, institutional investing and property analysis.
A panel on “The Shape of Things to Come: Capital Markets” will feature Charles Fedalen, executive vice president at Wells Fargo; James M. Reilly, executive director of JP Morgan Securities Inc.; and Brian Stoffers, president of CBRE Capital Markets. The second panel, “The Shape of Things to Come: REITS, Retail, Development and Loan Workouts,” will feature Greg Fitchitt, vice president of development of Westfield; William J. Hoffman, president and receiver of Trigild; Morgan Dene Oliver, CEO of Oliver McMillan LLC; and Stuart Tanz, CEO and president of Retail Opportunity Investments Corp.
To register for the event, visit sandiego.edu/bmcevent. For more information, call Diane Gustafson at (619) 260-2379.
ChemTreat Acquires Trident Technologies Inc.
ChemTreat Inc. in San Diego has acquired Trident Technologies Inc. and Trident Technologies S.A. de C.V., providers of water treatment products and services in Southern California and northwestern Mexico. Trident Technologies, headquartered in San Diego, provides water treatment solutions for a diverse range of commercial, institutional and industrial markets. Unique product and service offerings concentrate on water and resource management with particular focus on “green” technologies.
ChemTreat is one of the largest providers of industrial water treatment in the United States with revenues in excess of $250 million. As part of the water quality group of Danaher Corp., ChemTreat/Trident joins Hach, Trojan and other companies in the growing sector of the water market.
John Nygren, ChemTreat’s president, said: “We are creating a new and dynamic force within the Southern California and Mexican Industrial and Commercial & Industrial water treatment markets.”
Student-Assisted Venture Capital Fund Launched
The Rady School of Management at UCSD has launched the Rady Venture Fund, a student-assisted venture capital investment fund aimed at providing a hands-on learning experience for Rady MBAs and other UCSD graduate students and to support entrepreneurship, innovation and transfer of discovery into the marketplace. It is the first fund of its kind in San Diego. Rady MBAs will work with investment industry leaders to manage the fund and deploy investment capital to assist in the creation of successful companies. The Rady Venture Fund is funded by donations to the UCSD Foundation.
“This is a win-win situation for the Rady School and the Southern California economy as a whole,” said Rady School Dean Robert S. Sullivan. “Proceeds from the Rady Venture Fund will be used for future entrepreneurial programs and also be invested in fledgling Southern California companies, having a positive impact on our region’s innovation economy.” Lada Rasochova, a Rady School alumna and UC Discovery Grant recipient, joined the school’s staff to manage the Rady Venture Fund program.
The Rady Venture Fund will make one to two investments per year in seed-to-early stage companies primarily focused on high technology, the life sciences and clean technology and located in Southern California. A typical investment will range in size from $75,000 to $150,000. Any investment will require investment committee approval and syndication with at least one other direct external investor. Proceeds will be reinvested in the fund to create a growing pool of investment capital or be used to build the Rady School endowment and support entrepreneurial programs at the school. For more information, visit http://rady.ucsd.edu/invest/venture.
Sale And Leases
Grubb & Ellis|BRE Commercial announced the following transactions:
Sale — La Jolla Screen Printing Corp. purchased 2,800 square feet of retail space at 4667 Cass St. from Cass Street Market LLC for $800,000. Danny Fitzgerald, Michael Burton and Robb Frye of Grubb & Ellis|BRE Commercial represented the buyer in the transaction. Trent Wagenseller of Coldwell Banker Commercial Associates represented the seller.
• Psychiatric Center at San Diego leased 2,860 square feet of office space for five years, eight months at 328 Encinitas Blvd., Suite 100, in Encinitas, from Cratex Manufacturing Co. Inc. for $432,322. Matt Campbell, Peter Curry and Ryan Grant of Grubb & Ellis|BRE Commercial represented the lessor in the transaction. Tom Wilcox of Colliers International represented the lessee.
• Regents of the University of California leased 1,938 square feet of office space for five years at 505 Lomas Santa Fe Drive, Suite 290, in Solana Beach, from Beckman Properties Inc. for $363,483. Joe Anderson and Stacy Looney of Grubb & Ellis|BRE Commercial represented both the lessor and the lessee in the transaction.
• Spathco leased 2,083 square feet of office space for four years, one month at 4909 Murphy Canyon Road, Suite 405, San Diego, from Seapoint Properties LLC for $162,398. Jack Kruger of Grubb & Ellis|BRE Commercial represented the lessor in the transaction. Tefilo Hamui of FB Commercial represented the lessee.
• Power Shoes leased 2,441 square feet of retail space for three years at 13156 Poway Road in Poway from Poway Library Plaza LLC for $96,837. Mike Clark, Joe Yetter and Brent Williams of Grubb & Ellis|BRE Commercial represented both the lessor and the lessee in the transaction.
Grossmont Healthcare District Board Elects Officers
Grossmont Healthcare District’s board of directors has elected Gloria Chadwick as president, Deborah McElravy as vice president and Michael Emerson as secretary. Chadwick appointed board member Dr. Michael Long as treasurer. Chadwick has served on the board since 1998, when she became the first woman to be elected to the board in 22 years. McElravy has served on the board since 2006, when she was appointed to fill a vacant seat. Emerson has served on the board since 2008, when he was appointed to fill a vacant seat. Long, the newest member of the GHD board, was elected to a four-year term in November 2008. Also serving on the five-member board is Jim Stieringer, who served as board president in 2009 and 2008, as well as two other years since he was elected to the board in 1992
Osher Lifelong Learning Institute Holds Open House
SDSU’s College of Extended Studies will host a spring semester open house for its Osher Lifelong Learning Institute program for individuals 50 years of age and better on Jan. 30 at 10 a.m. at the SDSU Extended Studies Center. Prospective students will be able to meet program staff and faculty, learn more about classes being offered and visit the Extended Studies Center facility where classes take place. For program information and to RSVP for the open house, call (619) 594-2863, e-mail firstname.lastname@example.org or visit www.neverstoplearning.net/osher
Property Sales . . .
• Alpine Acreage Goes for $3 Million
Harmony Grove Partners LP has purchased 164 acres of land on the west end of Alpine Trails Road for $3 million. The seller was 550 SOHO LLC. David Santistevan, Ciara Layne and Gunder Creager of Colliers International were the brokers in the transaction. Harmony Grove Partners intend to build out the 55 lots.
• North Park Building: $1.8 Million
The North Park building that houses Beauty Supply Warehouse, Chesters Furniture, Big City Tattoo and L & A Tailoring on University Avenue has been sold to an investment group, The Greenberg Intervivos, for $1.8 million. The address is 2901-2917 University Ave. Wells Fargo Bank sold the property as the trustee for the property. Kipp Gstettenbauer of Cushman & Wakefield represented the buyer.
• Barrio Logan Commercial/Industrial
A 7,000-square-foot commercial/industrial building at 3626 Main St. in the Barrio Logan area of San Diego has been sold for $615,000 to Bald Eagle Security Services Inc., which intends to relocate to the property after renovations are completed. Mission Federal Credit Union was the seller. Scott Collins of NAI San Diego represented the buyer. Tim Mills of Cushman & Wakefield represented the seller.
Cashco Retail Center Completed
Richard & Richard Construction Co. Inc. in San Marcos, has designed and completed construction of the $2 million Cashco Retail Center at 4502 University Ave. in San Diego. The two-story building has 12,000 square feet of retail space that was designed by Richard & Richard Construction’s architect, Gary Seward. The building has been submitted to the U.S. Green Building Council for LEED Silver certification. The construction was run by project manager David McNiff, Superintendent Steve Basko and project administrator Brittney Simons.
SEMINAR: Foothills Bar Association’s seventh annual “Hard to Get” MCLE Credits Seminar, 5 to 9 p.m., La Mesa Community Center, 4975 Memorial Drive, La Mesa. Speakers include Brian Forbes, Julie Greenberg, Mattheus Stephens, and M. David Meagher. 3.5 hours MCLE Credit. $50, FBA members, $65, nonmembers. Download registration form at : lawyersclubsandiego.com/associations/4937/files/FBA.MCLE.form.pdf.
BREAKFAST PANEL: The 2010 San Diego Retail Market Forecast sponsored by the International Council of Shopping Centers. Local retail experts discuss what to expect in 2010 and how to survive. Moderator: Mike Clark, ICSC, San Diego program committee chair. Marriott Del Mar, 11966 El Camino Real, San Diego. 7:30 a.m. registration, program at 8 a.m. Members $45 to $60; nonmembers $60 to $75. Registration information at (646) 728-3800.
REAL ESTATE PANEL: Residential real estate leaders will gather for an annual forecasting event at 5 p.m. at the Del Mar Hilton, 15575 Jimmy Durante Blvd., Del Mar. The program, “Positive Again in 2010,” is presented by the Sales & Marketing Council of the San Diego Building Industry Association. Moderated by Pete Reeb of Reeb Development Consulting. Cost is $65 for BIA members and $85 for nonmembers. Dinner, 6 p.m., program, 7 p.m. For more information or to register, visit http://www.biasandiego.org/eventsupcoming.php?key=91 or call (858) 450-1221, Ext. 101.
WORKSHOP: CONNECT workshop on “Establishing an Effective Bioscience IP Portfolio,” held in partnership with Pillsbury Winthrop Pittman Shaw LLP. The workshop will cover basic elements of developing a commercially meaningful intellectual property portfolio for a bioscience company. 8 a.m. to 1:30 p.m., offices of Pillsbury Winthrop Shaw Pittman, 12255 El Camino Real, Suite 300, San Diego. Light breakfast will be provided; optional lunch. $45. For more information, call (858) 964-1312.
PRESENTATION: Jeff Morgan, president and CEO of the National Investor Relations Institute (NIRI), speaks to the San Diego NIRI chapter at Leap Wireless, 5887 Copley Dr., San Diego. Networking reception at 5 p.m. presentation, 5:30 to 7 p.m. Morgan will speak on the NIRI and the state of the industry. Admission is $45 for members and $60 for nonmembers if registration is received before 5 p.m. on Jan. 11. The cost for late or on-site registrations is $55 for members and $70 for nonmembers. Register by e-mail at: email@example.com.
BREAKFAST TALK: Jeff Moorad, vice chairman and CEO of the San Diego Padres, will give a talk on the recent Padres franchise deal at the Jan. 19 meeting of the San Diego chapter of the Association for Corporate Growth. It will be from 7 to 9 a.m. at the Doubletree Hotel Hazard Center, 7450 Hazard Center Drive, San Diego. ACG San Diego members are free; others are $50. To reserve, visit acteva.com/go/acgsd. For more information, call (619) 741-7247.
FORUM: San Diego Mayor Jerry Sanders will discuss past, present and future city government reforms that will shape the region in NAOP San Diego’s fourth annual Breakfast with the Mayor program. Marriott San Diego/Del Mar, 11966 El Camino Real, San Diego. Registration at 7:30 a.m., program runs from 8 to 9:15 a.m. $40 for members, $60 for nonmembers. Attendees may pay online at naiopsd.org. NAOP San Diego is a chapter of the Real Estate Development Association.
WORKSHOP: “Unlocking the Secrets: the Power of Strategic Alliances” sponsored by the San Diego Regional Chamber of Commerce. A 90-minute training course to be successful in the chamber’s complementary referral program, the Business Alliance. Chamber HQ, 402 West Broadway, Suite 1000, San Diego. No charge. Reservations required. To reserve, e-mail Erin Chapman at firstname.lastname@example.org or call (619) 544-1382.
CONFERENCE: San Diego Society for Human Resource Management’s annual Law Day Conference focuses on employment law, compliance and legislative issues facing today’s workplace. 7:30 a.m. to 3:30 p.m., Hilton La Jolla Torrey Pines, 10950 North Torrey Pines Road, La Jolla. $129 for members, $189 for nonmembers. To reserve and for more information, visit sdshrm.org or acteva.com/go/sdshrm.
FORUM: “TelCentris: Generating Revenue from a Market Used to ‘Free,’”
5 to 8 p.m. Salk Institute, 10010 North Torrey Pines Rd., La Jolla. Sponsored by MIT Enterprise Forum San Diego. For more information, visit sdmitforum.org.
LUNCHEON: Lawyers Club of San Diego monthly luncheon, noon to 1:15 p.m., Bristol Hotel, 1055 First Ave., Downtown San Diego. Doors open at 11:45 a.m. Members $25. Nonmembers $30. Make reservations to email@example.com.
LUNCHEON: Annual installation luncheon of the Downtown San Diego Partnership. 11:30 a.m. check-in, program at noon, Hard Rock Hotel, Downtown San Diego. For information, call Sheri Snead, (619) 234-0201 or e-mail her at firstname.lastname@example.org.
WORKSHOP: Presentation workshop sponsored by BIOCOM, 8:30 a.m. to 5 p.m., at BIOCOM, 4510 Executive Drive Plaza 7, San Diego. Provides opportunity for practice, feedback, videotaping and one-on-one coaching for each participant. Each participant will present three times, be videotaped and receive group and one-on-one feedback. For information, call Kristie Grover, (858) 455-0300.
PANEL TALK: Citizens Coordinate for Century 3 hosts a breakfast dialogue, “Are the Tides Turning on Equity and Environmental Justice in San Diego Planning?” Harborside Room, Holiday Inn Embarcadero, 1355 North Harbor Drive, Downtown San Diego. Registration 7:30 a.m. Program runs from 8 to 9:15 a.m. Cost for the continental breakfast and program is $20 for members and $25 for nonmembers. Cost at the door is $35 for all. Student admission is $10. For reservations, call (619) 232-7196.
WORKSHOP: “Unlocking the Secrets: The Art of Giving a Presentation,” a training course sponsored by the San Diego Regional Chamber of Commerce. 8 to 9:30 a.m., San Diego Regional Chamber of Commerce, 402 West Broadway, Suite 1000, San Diego. Learn how to show off what you do and share what makes your business, product or service unique. For more information, call (619) 544-1382.
WORKSHOP: The San Diego chapter of the International Association of Business Communicators holds a special workshop/learning session on “The New Rules of Engagement: How Communicators Shape Leaders’ Thoughts and Actions.” Speaker is Mark Schumann, principal of Towers Perrin and 2008-09 chair of the IABC. 11:30 a.m. to 1 p.m., learning session and lunch; 1 to 2 p.m., roundtable workshop. Doubletree Hotel San Diego/Mission Valley, 7450 Hazard Center Drive, San Diego. Register by Jan. 21 and its $40 for members, $50 for nonmembers. Register afterwards, its $50 and $60, respectively.
CONFERENCE: The Burnham-Moores Center for Real Estate’s 14th annual Real Estate Conference will feature real estate icon Sam Zell. Panels will discuss “The Shape of Things to Come: Capital Markets” and “The Shape of Things to Come: REITS, Retail, Development and Loan Workouts.” 7:30 a.m. to noon, Hilton San Diego Bayfront. To register, visit sandiego.edu/bmcevent. For more information, call Diane Gustafson at (619) 260-2379.
ANNUAL DINNER: The 139th annual dinner of the San Diego Regional Chamber of Commerce, 5-8 p.m., Town and Country Resort & Convention Center, 500 Hotel Circle North, Grand Exhibit Hall. $150 individual registration. Highlights include induction of the 2010 chairman of the board, Tom Wornham of Wells Fargo, and the board of directors, and presentations of the Spirit of San Diego, Courageous Leadership and Regional Unity awards. For more information, call Katie at (619) 544-1370.
CELEBRATION: The Asian Business Association of San Diego holds its 16th annual Lunar New Year Celebration featuring Lucky Lion Dancers, a casino night with prizes and Chinese cuisine. 5:30 to 8:30 p.m., dinner from 6:15 to 7:15 p.m., no-host bar, Fat City Steakhouse/China Camp Restaurant, 2137 Pacific Coast Highway, San Diego. Cost: before Feb. 16, $30 to ABA members, $35 for nonmembers; at the door, $40 members and nonmembers. Register online at abasd.org. For more information, call (858) 277-2822.
WORKSHOP: The San Diego chapter of the American Society of Interior Designers sponsors a “Day with Designers,” a public workshop to provide information on practical interior design basics and how to select an interior designer, among other tips. 9 a.m. to 2 p.m. at the Art Institute, 7650 Mission Valley Road, San Diego. Advanced tickets available for $35 by visiting ASIDSanDiego.org. Tickets at the door are $45. For more information, call (858) 646-9896.
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