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Daily Business Report — Feb. 21, 2013

UC San Diego Cancer Scientist Wins $3 Million Award

Napoleon Ferrara

Napoleon Ferrara, senior deputy director for basic sciences at the UC San Diego Moores Cancer Center, has been named one of 11 recipients of the inaugural Breakthrough Prize in Life Sciences, which comes with a $3 million cash award. Ferrara, a molecular biologist, is credited with helping decipher how tumors grow. The prize is the collaborative creation of Mark Zuckerberg, founder of Facebook, and his wife, Priscilla Chan; Sergey Brin, co-founder of Google and his wife, Anne Wojcicki, founder of the genetics company 23andMe; and Yuri Milner, a Russian businessman and philanthropist who established a similar prize in fundamental physics last year, when $3 million each was awarded to nine researchers. The Breakthrough Prize honors life scientists who have ambitiously pushed the boundaries of their disciplines, taken risks and impacted lives and society.

Ferrara, 56, who is also a professor of pathology in the UC San Diego School of Medicine’s Department of Pathology, was recognized for his work identifying the role of the human VEGF gene in promoting angiogenesis — the formation of new blood vessels that can feed tumor growth — and subsequent development of two major monoclonal antibody drugs.

ResMed Founder to Step Down;
Son to Assume His Post as CEO

Peter Ferrell, the founder of ResMed Inc., a medical device manufacturer in San Diego, will leave his post as chief executive officer and will be replaced by his son, Michael “Mick” Ferrell, effective on March 1. Robert “Rob” Douglas will become ResMed’s president and chief operating office. Peter Ferrell will become executive chairman. The company also announced that Jim Hollingshead was named president of the Americas region, which had been led by Mick Ferrell, who has been with the com pany for 12 years.

Bernardo Heights Plaza Sells for $12.45 Million

Bernardo Heights Plaza

Bernardo Heights Plaza, a Rancho Bernardo shopping center anchored by Sprouts, has been sold for $12.45 million. The center is located at 15727 and 15731 Bernardo Heights Parkway. The center was built in 1983 and was remodeled in 2006. The property also includes tenants Tuesday Morning, Bernardo Heights Dental Group, Majestic Nails & Spa, Sports Clips and Wholesome Choice Pet Market. The center was fully occupied at the time of sale. The buyer was ROIC BHP LLC of San Marcos. The seller was MPC Bernardo Heights L.P. of Anaheim. The sale was brokered by Hanley Investment Group Real Estate Advisors.

Town Hall Meeting Scheduled to Address Rise
In Crime and Homelessness in East Village

A public safety town hall meeting will be held Feb. 28 in East Village to address the increasing incidence of homelessness and crime in the neighborhood. The meeting is sponsored by the East Village Association, the nonprofit corporation that manages the East Village Business Improvement District, and the Center for Law & Social Justice at the Thomas Jefferson School of Law. It will be held at 4:45 p.m. in Room 219 at the law school. Speakers will include City Attorney Jan Goldsmith; Police Chief William Landsdowne; Ryan Loofburrow, director of the Clean & Safe Program; Lisa Rodriguez of the District Attorney’s Office; and Dion Akers of Council President Todd Gloria’s office. Jack Monger of the East Village Association board, is moderator.

Mayor and City Attorney Verbally Spar

City News Service — What San Diego City Attorney Jan Goldsmith calls a “dysfunctional” relationship with recently seated San Diego Mayor Bob Filner went public Wednesday in an exchange of words at a news conference over the controversial extension of the city’s Tourism Marketing District. Goldsmith called the news conference to discuss legal aspects of four changes Filner wants in the 40-year TMD deal, which has been approved by the City Council. Filner has not signed off on financial transactions called for in the agreement. Filner, who showed up partway through the event, accused the city attorney of failing to provide him with legal advice. “It would have been nice, Mr. Goldsmith, to have a memo, it would have been nice to have advice,” Filner said. “I am your client. That’s privileged communication. You not only have been unprofessional but unethical in your press conference, and I resent it greatly that you’re giving your advice to the press.” Goldsmith said he only learned about Filner’s objections to the TMD extension by reading the newspaper.

(For the complete story, visit

The Terraces Apartments Sell for $23.4 Million

The Terraces

The Terraces, a 190-unit apartment complex in Escondido, has been sold for $23.4 million to Avanath Capital Partners LLC. The seller was Escondido Terraces LC. The property, located at1301 Morning View Drive, has had an occupancy of more than 95 percent for the last three years. The Terraces has one-, two-, three- and four-bedroom floor plans. Unit features include private balconies or patios, energy efficient appliances, central air-conditioning and vaulted ceilings. Shared amenities include a private community room, computer lab, swimming and wading pool, three laundry facilities, a children’s playground, ample parking and controlled access. The sale was arranged by Marcus & Millichap.

Reno Contracting Hires New
Energy Program Manager

Greg Carnegie

Greg Carnegie has been hired as the new energy program manager for Reno Contracting. He has 25 years of experience in energy and facility management. Carnegie previously was energy program manager for Redhorse Corp. in San Diego. His work experience includes military installations and institutional, industrial, and commercial facilities.  Carnegie also has managed teams of auditors, engineers, technicians and maintenance personnel to identify energy efficiency opportunities and improve building system performance.


The Daily Business Report is produced by SD METRO.

Contact: Manny Cruz (619) 287-1865.


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