Daily Business Report — Oct. 7, 2010
Vote for the Most Admired Company
San Diego Metropolitan Magazine is soliciting nominations for the 15 Most Admired Companies in San Diego County. The winning companies will be profiled in the December issue of the magazine. To nominate a company, fill out the form on our Website: sandiegometro.com. The deadline is Nov. 10. For more information, call Rebeca Page at (619) 906-4104 or send an e-mail to her at rebecarebecapage@sandiego.
Housing Commission Purchases Condos
The San Diego Housing Commission has purchased Courtyard Condos, a mixed-use project at 4395 El Cajon Blvd. in San Diego, for $7.2 million. The 53,944-square-foot building was built in 2009. It will be used as part of the Housing Commission’s affordable housing program. Comerica Bank was the seller. The project includes 37 units consisting of four one-bedroom, one-bathroom units; 26 two-bedroom, two–bathroom units; three three-bedroom, two-bathroom units; and four three-bedroom, two–bathroom townhomes. Also included are 3,691 square feet of vacant ground-floor retail space. Jim Neil, Eric Comer and Merrick Matricardi of CB Richard Ellis represented the buyer. Comerica Bank represented itself. CB Richard Ellis was selected by the Housing Commission to assist the organization with property acquisitions.
Lane Field Project to Get More Park Space
The Board of Port Commissioners reached agreement with the developer of two hotels on Lane Field that would provide for more public space for the North Embarcadero Visionary Plan’s first phase. Commissioners approved amendments to agreements with Lane Field San Diego Developers LLC to allow for a 150-foot-wide setback park on North Harbor Drive adjacent to Lane Field. The Lane Field development calls for the construcion of two hotels with a total of 800 rooms and about 60,000 square feet of retail space, two acres of public space and 1,330 parking spots. The project would earn an estimated $7 million in annual rent. The developer in August pledged to the Port of San Diego that it would consider changing the footprint of the Lane Field project to allow more public space for the first phase of the North Embarcadero Visionary Plan (NEVP). The NEVP will redevelop about a mile and a half of waterfront along North Harbor Drive, from Laurel Street to Navy Pier with public plazas, enhanced landscaping, improved traffic and public art, is a joint project among the Port, Centre City Development Corporation and the city of San Diego.
The Port will now work with Lane Field Developers over the next 30 to 60 days to work out the terms of a new option agreement, including the 150-foot-wide setback, and business terms to be negotiated. Phase I encompasses an area from the front of the B Street Cruise Ship Terminal to the front of Navy Pier and a small portion of West Broadway from Harbor Drive to just past Pacific Highway. Phase I has gone before the California Coastal Commission twice this past year for approval, the commission rejecting it both times, stating that additional public park space needed to be incorporated. At the Nov. 9 Board of Port Commissioners meeting, the board will consider a coastal development permit for Phase 1, which may include the 150-foot setback park on Lane Field.
Wayne Darbeau Assumes Interim Post at Port District
Wayne Darbeau, vice president of administration for the Port of San Diego, has been named interim president and CEO of the agency in the aftemath of the Sept. 24 resignation of Charles Wurster. Darbeau, who was sworn in on Tuesday, will remain on the job while a nationwide search for a new CEO is under way. Darbeau has been with the Port District for more than 12 years. He has held key leadership positions, including senior director, director and administrator. Darbeau earned a bachelor’s degree in economics from the University of Massachusetts, a master’s degree in international relations from the University of San Diego and an MBA in business administration from the University of Redlands.
County to Receive Grant for Health Care Jobs
The county of San Diego has been awarded a $25 million grant to help create local jobs in the health care industry. The Health and Human Services Agency and San Diego Workforce Partnership will receive the only Health Profession Opportunity grant in the state. The grant will provide $5 million per year for five years to fund the “Bridge to Employment in the Healthcare Industry Program.” It will help existing welfare recipients and other low-income adults earn certificates and degrees in health-related professions in hospital and emergency services, medical laboratories, medical offices, out-patient services, and long-term care. It also will assist with transportation, and child care, and will link participants to career opportunities in the health care field. The grant is from the U.S. Department of Health and Human Services, administered by the Administration for Children & Families-Office of Family Assistance.
Commercial Property Sales
• Santa Monica Produce Inc. purchased a 20,352-square-foot industrial building at 2199 Britannia Blvd. from Dorco America, Inc. for $1.6 million. Robert Mooney and Greg Kelly of Cassidy Turley BRE Commercial represented the seller in the transaction. Phil Linton of Cassidy Turley BRE Commercial represented the buyer.
• The Community Development Commission of the city of Vista purchased a 28,750-square-foot property at 315-319 South Santa Fe Ave. in Vista from Wells Fargo Bank, trustees of the Alvin Dunn Trust for $1.21 million. Jeff Abramson of Cassidy Turley BRE Commercial represented the seller in the transaction. The buyer’s representation was not disclosed.
• Jerome Navarra Family Trust purchased a 15,000-square-foot industrial property at 343 16th St. and 1619 J St. from California Bank & Trust for $1 million. Tim Winslow, Jason Kimmel and Kelly Strickland of Cassidy Turley BRE Commercial represented the seller in the transaction. The buyer’s representation was not disclosed.
• The Grani Family Trust purchased a 7,639-square-foot industrial space at 2470 Ash St., Suite 4, in Vista, from Zions First National Bank for $664,593. Justin Beattie of Cassidy Turley BRE Commercial represented the seller in the transaction. Jason Smithson of NAI San Diego represented the buyer.
• Aguascalientes 177 purchased a 1,210-square-foot office condominium at 2535 Kettner Blvd., Suite 3A4, from Bank of America for $180,000. Phil Linton of Cassidy Turley BRE Commercial represented the seller in the transaction. Arturo Rolland of Top 7 Realty represented the buyer.
Green Fleet Conference Set for Oct. 18-19
Mayor Jerry Sanders will be one of several regional government representatives to deliver addresses, moderate informational panels and conduct educational sessions at the Green Fleet Conference Oct. 18-19 at the Town & Country Resort & Convention Center in San Diego. Sanders will deliver the opening remarks prior to the presentation of Environmental Leadership Awards. Some of the session topics are: How are City & County Fleets Reducing Carbon Footprints Today?; Real-World Applications of Alternative Fuel Vehicles; and What Clean Cities Can Do for Fleets. For more information about the conference, visit greenfleetconference.com or call (800) 576-8788.
SDSU Receives Grant to Track Internet Traffic
A $1.3 million grant from the National Science Foundation will help SDSU researchers create new ways to analyze the spread of information and ideas on the Internet. The project will map cyberspace by tracking the flow of information and monitoring its movement on the Internet. “The spread of ideas in the age of the Internet is a double-edged sword; it can enhance our collective welfare as well as produce forces that can destabilize the world,” said Ming-Hsiang Tsou, associate professor of geography and the project’s lead investigator. “This project aims at understanding the process by which the impact of co-related events or ideas disperse throughout the world over time and space.” The project seeks to map both the geography and the chronology of ideas over cyberspace, as the ripples of information radiate outward from a given event epicenter. By mapping and analyzing such ripples, new insights will be provided into the role of new media in biasing, accelerating, impeding, or otherwise influencing personal, social and political uses of such information.
Six leases totaling over 21,000 square feet have been signed at Chancellor Park, a 199,582-square-foot Class A office and medical facility in San Diego. Faces Plus Inc., a cosmetic surgical practice, signed a 10-year lease for 5,857 square feet of medical space. The lessee was represented by Scot Ginsburg of Jones Lang LaSalle. Financial terms were not disclosed. Torrey Pines Orthopaedic Medical Group signed an eight-year, $1,673,848 lease renewal and expansion for 6,506 square feet of medical space, Suites 100 and 101. La Jolla Village Family Medical Group signed a 10-year, $1,451,792 lease for 3,870 square feet of medical space, Suite 105. Robert Kearney, M.D., signed a 10-year, $667,066 lease for 1,776 square feet of medical space, Suite 150.American Laser Centers of California signed a 64-month, $332,320 lease renewal for 1,879 square feet of medical space at 4510 Executive Drive, Suite 111. Nimai Chokshi, Jennifer Coghill and Christiana Rodgers signed a 48-month, $147,256 lease renewal for 1,149 square feet of office space, Suite 203.
SCORE San Diego Small Business Workshops
Fees range from $29 to $109 depending on the program.
• Oct. 8 – Internet Marketing 301: Pay-Per-Click – Carlsbad – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Oct. 12 – Tax considerations for Small Businesses – Carlsbad – 9:30-11:30 a.m. at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
• Oct. 13 – Business Plan 101: How to Develop Your Best Competitive Advantage – 9 a.m. to 3 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $79, $89 at the door).
• Oct. 14 – Legal Issues: Contracts and Leases – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Oct. 15 – 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).
• Oct. 16 – QuickBooks Basic – 9 a.m. to 4 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Oct. 18 – Internet Marketing 303: Social Media – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Oct. 19 – Financing Your Business – Carlsbad – 9:30 a.m. to noon at National University in Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
• Oct. 20 – Import/Export – 9 a.m. to 4:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $69, $79 at the door).
• Oct. 22 – Internet Marketing 302: E-mail Strategy – 9 a.m. to noon at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $49, $59 at the door).
• Oct. 22 – Business Basics 101 – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; FREE! Please pre-register).
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.