Daily Business Report — Aug. 3, 2010
August’s San Diego Metropolitan
San Diego building contractors are falling over each other to feed on the abundance of civic projects coming online at the same time. Read how the scramble is affecting the job market, prices and the economy in the August issue of San Diego Metropolitan Magazine, which hits the streets this week.
Also this month:
• David Rottenberg’s report on the family-friendly atmosphere at Donovan’s restaurants and Donna Marganella’s take on the renovated West Coast Tavern in North Park.
• Councilman Todd Gloria’s plea for a permanent home and care center for the homeless.
• A Q&A with Charles Black, the city’s lead negotiator for the proposed Downtown Civic Center.
• How San Diego’s nonprofit organizations are surviving in the rickety economy, as reported by Janine Rojas.
• A history of the U.S. Grant Hotel as it prepares for its centennial celebration, reported by Manny Lopez.
• Plus San Diego Scene and other notable features.
Chula Vista’s Big 5 Sporting Goods Sells for $1.9 Million
The Big 5 Sporting Goods store in the Terra Nova Plaza Shopping Center in Chula Vista has sold for $1.9 million to the Chatton Family Trust, trustees Tim and Linda Chatton. The seller was the ORAM Family Trust. The 9,720-square-foot building is located at 364 East H St. Other anchor tenants are Sports Authority, Bed, Bath & Beyond and Marshalls. Terra Nova Plaza is managed by NewMark Merrill. Flocke & Avoyer handles leasing at the center. Escrow services in the transaction were provided by Kathy Robinson at Chicago Title Co. The seller was represented by Alvin Mansour and the Mansour Group at Marcus & Millichap. The buyer was represented by Robert Pew of TIE Commercial.
Korean United Methodist Church Purchase Office Property
The Korean United Methodist Church of San Diego has purchased a 53,000-square-foot office property at 6701-6861 Convoy Court in San Diego for $5.4 million with the intent to construct a sanctuary, offices, a children’s center and a community center to serve members of the church. To assist with purchasing the property, the church was financed with a first-mortgage loan for $3.5million from the United Methodist Development Fund. Harry Stone of Voit Real Estate Services’ San Diego office represented the seller, Kearny II LLC.The buyer was represented by Inmook Hwang of American National Realty.
Vision Awards Presented
Rebecca Groenewold of Professional Community Management of California Inc./Bernardo Heights and Deborah M. Kornheiser of Wasserman Kornheiser LLP in San Diego have been awarded Vision Awards from the California Association of Community Managers. The awards are given to community managers who have exhibited exceptional talent in the field of community management. Groenewold won the “Creative Solutions for Problem-Solving” Vision Award while Kornheiser was honored with the “Excellence in Education” Vision Award.
Dowling & Yahnke Signs $3 Million Sublease
Dowling & Yahnke LLC, a San Diego-based wealth management company, has signed a 98-month, $3 million sublease for 11,286 square feet of office space in Del Mar Corporate Centre at 12340 El Camino Real, Suite 450, San Diego (92130). In the transaction, the sublessor, Fish & Richardson P.C., was represented by Christopher P. High and Steve Rosetta of Cushman & Wakefield. The sublessee was represented by Russ Sande of CresaPartners. Del Mar Corporate Centre is an 88,182-square-foot Class A office building built in 2002.
Reuben H. Fleet Science Center Receives LEED Rating
The Reuben H. Fleet Science Center has received LEED Silver Certification for Existing Buildings: Operations & Maintenance, from the U.S. Green Building Council. The center is the first building in Balboa Park to receive the certification. As the result of new technologies and energy-saving strategies, the Fleet now consumes less energy today than it did prior to its 1998 expansion, which doubled the size of the facility to 93,505 square feet, according to center officials.
Among measures the center has taken to minimize environmental impact include:
• The installation of more than 10,000 square feet of solar panels on the roof of the center which generates more than 100 kilowatts of clean electricity at peak production – enough to light 1,700 60-watt light bulbs, or power about 65 homes.
• The use of fluorescent, compact fluorescent or LED bulbs throughout the building, which use at least 60 percent less energy than traditional lights.
• The conversion of the center’s central chiller plant, part of the air conditioning system, from natural gas to electricity – improving its efficiency and reducing greenhouse gas emissions. The result has been a 60 percent reduction in natural gas usage.
• 33 percent of total waster generated at the Fleet Science Center is recycled.
Small Business Workshops This Week
Upcoming SCORE San Diego Workshops:
• Aug. 4 – Financing Your Business – 9:30 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• Aug. 6 – Tax Considerations for Small Companies – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• Aug. 7 – How to Start and Manage Your Own Business – Carlsbad – 9 a.m. to 4:15 p.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
The Daily Business Report is produced by REP Publishing Inc., publisher of San Diego Metropolitan Magazine, the North Park News, Kensington News and the West Coast Craftsman. (619) 906-4104.