Daily Business Report-Nov. 29, 2017
Campus of the University of San Diego.
University of San Diego to Receive
Major Gift to Help Fund Construction
of a New School of Business Complex
The University of San Diego on Thursday is scheduled to announce a donation that will help fund construction of a new 80,000-square-foot School of Business Complex and renovations to Olin Hall, the existing 48,000 square-foot home of USD’s School of Business.
Once completed, the School of Business Complex will nearly triple the school’s current footpring and bring into one location all of the school’s academic programs, centers and institutes.
The new state-of-the-art business education complex will feature classrooms, seminar meeting rooms, informal collaborative work spaces, faculty offices and suites featuring the latest technology.
Announcement of the major donation is to be made by University President James Harris and Jaime Aloso Gomez, dean of the School of Business at a morning event.
University officials said that 42 percent of USD’s undergraduate students with declared majors are pursuing degrees within the School of Business. USD also enrolls more than 640 graduate business students. Currently, classes for these students are located in multiple locations across the campus, and in facilities located in Alcalá West.
Ocean Air Luxury Condos
Sold for Undisclosed Price
The Ocean Air luxury condominium rental homes development at 10500 Sea Pearl Cove in San Diego has been sold to San Diego-based Ocean Air L.P. for an undisclosed price. Ocean Air is an affiliate of R&V Management Corp. TH Real Estate was the seller.
Completed in February 2015, the property consists of five buildings with 100 luxury condominium rental homes. Elevated on a bluff, Ocean Air offers panoramic views of Torrey Pines State Reserve and the Pacific Ocean.
Originally designed as condominiums, the property features floor plans averaging 1,323 square feet; 80 percent of the unit mix features townhome-style floor plans and 80 percent are two and three-bedroom configurations. Conceptual plans have been started to add a clubhouse and pool to the southeastern portion of the property.
CBRE represented the seller.
San Diego Employers Association
to Present AleSmith Brewing Co. Principals
Ryan Crisp, director of brewery operations at AleSmith Brewing Co., will discuss the brewery’s history at the Nov. 29 meeting of the San Diego Employers Association. It will be held from 4 to 6 p.m. at AleSmith Brewing Co., 9990 AleSmith Court, San Diego.
Vicky Zien, co-owner, COO and head of human resources at the brewery, also will talk about the future of the company. Tours of the brewery will be offered.
Tickets are $35 for SDEA members and $45 for nonmembers. Beer tickets and light bites are included in ticket price. There will also be a food truck on-site. To learn more and to purchase a ticket, visit www.sdeahr.org.
New MBA Program at USD Offers
Opportunity to Study in Multiple Countries
University of San Diego will offer a new International MBA degree beginning in July 2018 that includes the possibility to study in multiple countries. The 11-month program starts with a required term in Spain, along with an international consulting project in Asia, Europe or Latin America, interspersed with courses at the University of San Diego campus and field trips to Mexico.
The program starts in Madrid, Spain, where the university has its own center with on-site support from USD and local faculty and staff. Focusing on current business practices in Europe, students will gain in-depth learning of global best practices and the skills required to lead multicultural teams and organizations. Visits to companies in Madrid will allow students to experience the successes and challenges of global businesses first hand.
DACA Recipients at San Diego Community
College District Eligible for $175,000 in Aid
The San Diego Community College District has more than $175,000 in emergency aid available to an estimated 500 San Diego City, Mesa, and Miramar College students who are recipients of the Deferred Action for Childhood Arrivals (DACA) program and are facing financial challenges.
Students who have demonstrated financial need and completed a California Community Colleges Board of Governors Waiver or California Dream Act application are eligible. Emergency grants are distributed from the campus on which they are enrolled.
State lawmakers authorized the spending through last-minute legislation introduced Sept. 12 and it is part of $7 million provided to California Community Colleges Chancellor’s Office for distribution. Funds are being distributed on a first-come, first-serve basis.
Biolinq Completes $10 Million
Series A Financing
San Diego-based Biolinq announced the close of a $10 million Series A financing led by M Ventures, in collaboration with Hikma Ventures. Biolinq is a digital health company with a wirelessly-enabled biosensor patch that is capable of continuously monitoring multiple biomarkers.
Grey Sky Venture Partners, Three Leaf Ventures, LifeSci Venture Partners and a group of high-net-worth individuals specialized in the diabetes field are also contributing to the round. Biolinq’s first commercial product, a minimally-invasive technology, will allow patients with diabetes to continuously monitor their blood glucose without the pain and hassle of traditional continuous glucose monitoring systems.
NanoCollect Biomedical Raises
$10 Million in Series B Funding
San Diego-based NanoCellect Biomedical Inc., a developer of microfluidic cell sorting technologies for cell-based assays, announced the completion of a $10 million Series B financing round, including convertible notes. The financing included the participation of new investors Illumina Ventures, Anzu Partners, Vertical Venture Partners, and 5 Prime Ventures. Also participating in the round were existing investors FusionX Ventures and Agilent Technologies.
NanoCellect also announced that Alexis Ji, Partner at Illumina Ventures, has joined the company’s board of directors. Illumina Ventures invests in early-stage companies that are pioneering new applications of genomics and enabling precision medicine – including life sciences tools, clinical diagnostics, and therapeutics platforms.
Robert Sistek Named COO of Westcore Properties
Robert Sistek, a resident of Carlsbad, has joined Westcore Properties as its chief operating officer. Sistek will work with Chairman Marc Brutten and President and CEO Don Ankeny to oversee acquisitions, leasing, portfolio management, capital allocation and investment strategy.
Most recently, Sistek served as chief financial officer and executive vice president, investments for Innovative Industrial Properties, where he led the closing of $45 million of acquisitions and related leases, as well as the accounting, finance, treasury and investor relations functions, including the successful execution of the company’s IPO and listing on the New York Stock Exchange.
Before Innovative Industrial Properties, Sistek served as senior vice president, investments for Biomed Realty Trust, which was acquired in an $8 billion transaction by The Blackstone Group in 2016. While at BioMed Realty, he led the financing, underwriting and execution associated with acquisitions, development, structured finance and disposition opportunities totaling over $3 billion across more than 30 separate transactions.
Sistek holds a business administration degree from University of Northern Colorado and an MBA from Kellogg School of Management at Northwestern University.
Tabitha Burke Named Executive Director
of Jack in the Box National Franchise Association
Jack in the Box National Franchise Association (JIB-NFA) announced that Tabitha Burke has been appointed as the franchise association’s executive director. Her core mission will be implementing JIB-NFA strategies effectively, enhancing executive leadership and maintaining JIB-NFA day-to-day operations.
Burke is a franchisee veteran with over 25 years of progressive experience in streamlining operations, business development and franchise relations. She began her career at Hot Dog on a Stick where, as a member of the executive team, she developed the company’s franchise program and began franchising the company both domestically and internationally.
Burke most recently held the position of vice president of franchise development at Generation Next Franchise Brands where she supported over 200 franchisees.