Stories for February 2019
Thursday, February 28
SDSU Selects Clark Construction to Build $250M Mission Valley Stadium
Clark Construction Group selected to build Mission Valley stadium.
Spyglass Founder Starts Another Internet Venture for Mental Health
Douglas Colbeth, founder of early internet browser Spylass, is creating a new company to help people access mental health information.
SD 500: Candise Holmlund
Senior Partner, Weatherly Asset Management
Candise Holmlund has more than 30 years of experience in the field of wealth management.
Restaurant Group’s Dual-Concept Approach Keeps the Co. Growing
At the age of 16, while working as a busboy at the former Quigg’s restaurant in Ocean Beach, Matt Spencer, owner and operator of SDCM restaurant group, spoke his future into existence.
Airlines Are Finding It Hard to Fill One Seat
TRAVEL: Pilot Shortage Brings Practical and Creative Solutions
For charter services like Carlsbad-based Latitude 33 Aviation, it’s both the best and worst of times.
Two La Jolla Commercial Buildings Sold For Nearly $9M
Harry's Coffee Shop is a tenant
Acadia Pharmaceuticals Reports Q4 Results
Acadia Pharmaceuticals posted increased sales of its drug nuplazid in recent fourth quarter results.
SD 500: Lori Ann Stevens
Design Manager, Turner Construction Co.
In 2011, Lori Ann Stevens joined Turner Constructive Co., which specializes in general contracting, construction, management, design-build and tenant improvements.
Kratos Buys Florida Turbine Technologies
Kratos Defense, which has a business building small military drones, may soon build its own jet engines for those aircraft. The San Diego company announced Feb. 28 that it acquired a majority stake in Florida Turbine Technologies Inc. for $60 million.
Andrew Albert, Past President of San Diego Bar Association, Dies
Most recently, Albert worked as a mediator at Judicate West, a company founded in 1993 that provides private dispute resolution services.
Wednesday, February 27
Tide pull: Oceanside Development
With Two Hotels Under Construction, Downtown Oceanside Continues to Draw Businesses That Are Reshaping the Area
When S.D. Malkin Properties began its quest to build a pair of beachfront resort hotels in downtown Oceanside more than a decade ago, much of the surrounding area was a collection of vacant lots used for parking.
Luxury Real Estate: Find Your Place in History at Tudor Style Home in La Jolla
The charming Tudor-style home on Hillside Drive in La Jolla is far removed from the hustle-bustle of the trendy upscale community in the business district below.
San Diego-based TekWorks sells to Canadian Integrated Systems Giant
TekWorks sold to Paladin Technologies for an undisclosed amount.
SD 500: Stanley Crooke
Founder, Chairman And Ceo, Ionis Pharmaceuticals Inc.
Stan Crooke has led Ionis through scientific development and into commercialization and grown the company to a market cap of about $6.3 billion.
McCain Gets Municipal Sign Deal
Vista-based McCain Inc. said Feb. 27 that it received a contract from the city of San Jose to supply 13 variable message signs for the city’s downtown wayfinding system.
SD 500: Steve Dietlin
Ceo, Tri-City Medical Center
As CEO of Tri-City Medical Center, Steve Dietlin manages one of the largest public health care facilities in North County.
Female-Led Accelerator Ad Astra Opens Applications for Third Cohort
Ad Astra opened applications for its third cohort. The accelerator program for women-led startups was founded last year
Plant Power to Open Up Location at San Diego State University
The vegan restaurant will replace The Den by Denny’s sometime next year, according to a report on the University’s newspaper, The Daily Aztec, making it the first full vegan option on campus.
Philanthropy: Mentors Honored for Their Life Changing Commitments
In honor of National Mentoring Month, Promises2Kids hosted a Mentor Appreciation Event, which brought foster youth and their mentors together at Rockin’ Baja Lobster in Mira Mesa recently.
Tuesday, February 26
Plan Is for Former Hospital Site to Become Residential Asset
PROPERTY: Escondido Project to Create Scene, Boost Business Traffic
A former hospital campus on the edge of downtown Escondido may be transformed into a condominium and apartment project that proponents hope would help invigorate the city’s urban core.
So Many Menus, So Little Time
So far in 2019, San Diego County isn’t running dry in terms of rain or in terms of food options. From Farmer’s Table to Toast Gastrobrunch, the region has seen a surplus of restaurants open since the year kicked off. Here is a roundup of some new spots and expansions in the San Diego market in the last couple of weeks.
Sempra Grows 2018 Revenue By 4 Percent
Sempra Energy released its 2018 financial results on Feb. 26, reporting earnings of $924 million on revenue of $11.69 billion. One year ago, it reported earnings of $256 million on revenue of $11.21 billion. Sempra said it still expects to make $5.70 to $6.30 in adjusted earnings per share during 2019.
SD 500: Maria Pourteymour
Co-Founder And Chief Culinary Officer, Luna Grill Restaurants
As chief culinary officer and co-founder of Luna Grill, Maria Pourteymour oversees 47 fast casual restaurant locations in Southern California and the Dallas-Fort Worth area.
Tandem Diabetes Care Names New CEO
John Sheridan, an executive at Tandem Diabetes Care, will take over as CEO in March.
Oceanside Apartments Sold For $57.1M
Complex has 208 apartments
SD 500: Kevin Lustig
Ceo, President And Co-Founder, Scientist.com
As CEO, president and co-founder of Scientist.com, Kevin Lustig is at the helm of the largest marketplace for outsourced research services and custom products.
Former Ballast Point Building Fits Kombucha Startup to a T
Following in the legacy of San Diego’s largest beermaker, JuneShine is moving into Ballast Point’s old digs in Scripps Ranch. But the 1-year-old startup is brewing up something different: organic hard kombucha.
Philanthropy: Math Night Can Be Counted On for A Fun, Educational Experience
More than 500 kids and parents filled Del Sur Elementary’s main hall for the fourth annual Mathnasium Math Night, participating in math and STEM-focused games and activities.
Philanthropy: Beer Pairings Raise a Glass and Raise Money for Education
Barons Market served up local brews from Refuge Brewery at the store’s Backroom Beer Pairing of 2019 recently.
Monday, February 25
State Records $309B In M&A Deals for 2018
FINANCE: Private Equity, Cos., Looking to Grow, Fuel Activity
The flurry of deals prompted by regulatory changes spilled over into 2018, with total deal value for U.S. mergers and acquisitions hitting a three-year high. In San Diego, and across California, M&A deals flattened in 2018, though the dollar amount is still nearly double what it was a decade ago.
SD 500: Tony Hawk
Founder, The Tony Hawk Foundation
Few people can be as closely associated with the birth of a movement as Carlsbad native Tony Hawk is with skateboarding and action sports.
Qualcomm Builds First Platform for Robots
Qualcomm announces first platform for robotics.
SD 500: Michelle Sterling
Executive Vice President, Human Resources, Qualcomm Inc.
Michelle Sterling has overseen Qualcomm’s human resource functions and served on the executive committee since 2015.
Tapestry Solutions Receives Weapons Planning Software Deal
Tapestry Solutions Inc., an independent subsidiary of Boeing Co. based in San Diego, received a 10-year contract from the U.S. Air Force for Weapon Planning Software, also known as WPS. The indefinite delivery, indefinite quantity contract is worth a maximum of $259 million.
Philanthropy: Researcher Pays It Forward To Help in ALS Fight
The ALS Association Greater San Diego Chapter has received a $125,000 donation from Paul Negulescu, senior VP at Vertex Pharmaceuticals Inc., which operates a facility in San Diego. Negulescu was one of five scientists recently honored with a Warren Alpert Foundation prize.
Ionis, Akcea to Share $150M Novartis Payment
Novartis will pay $150 million to license a cardiovascular drug from Carlsbad-based Ionis Pharmaceuticals, it was announced Feb. 25.
Bird Rock Coffee Roasters Signs Distribution Deals
According to a press release, all 27 Gelson’s Markets, located in San Diego County, Santa Barbara, Los Angeles and Orange County, will carry 12 oz bags of Bird Rock Coffee Roasters starting this week.
Sunday, February 24
Jack Evaluating Strategic Alternatives, Sale
DINING: Conflict With Franchisees Said to Rattle Possible Buyers
Jack in the Box Inc., the beleaguered burger chain, took the wraps off first quarter earnings Feb. 20, reaffirming its guidance of flat to 2 percent growth during the year ahead.
Kyriba Moves HQ Back to San Diego
Kyriba, a financial software company that was founded in San Diego, is moving its company back from New York.
Regents La Jolla Apartments Sold For $141.5M
Complex has 333 apartments
Sempra Declares Dividends on 3 Classes of Stock
The board of Sempra Energy, meeting on Feb. 21, increased the dividend on the company’s common stock by 8.1 percent. The yearly dividend is now $3.87 per share. The company noted it is the ninth consecutive year it has increased its dividend.
San Diego Firm Brokers $3M Restaurant Deal
Popeye's in Pico Rivera is a new location
Progenity Adds Four Board Members
San Diego-based Progenity appointed Jeffrey Alter, John Bigalke, Samuel Nussbaum and Lynne Powel to its board, it was announced Feb. 21.
SD 500: Pete Garcia
Partner, I.D.E.A. Partners LLC
Pete Garcia is a co-founder and partner in I.D.E.A. District.
SD 500: Allison Long Pettine
President And Founder, Crescent Ridge Partners
Allison Long Pettine is founder and president of Crescent Ridge Partners, a venture fund started in 2012 to provide seed capital to early stage startups.
Business Events Calendar for Week of February 25, 2019
Business events planned in the county.
New Name May Bring Course Change at Harrow Health
San Diego’s Imprimis Pharmaceuticals — known for compounded drugs at the center of a legal challenge — has changed its name. That follows the company folding in several drug development subsidiaries.
The Government Is Back, But IPO Enthusiasm Has Yet to Return
The possibility of another government shutdown no longer looms over San Diego initial public offerings.
SDBJ Insider: Portfolium’s Own Skill Set Draws Buyer
Portfolium, the San Diego company that offered a platform for students to build digital portfolios of their work, was sold Feb. 19 to Instructure Inc. (NYSE: INST), a Salt Lake City-based SaaS company that developed a platform for teachers. The deal was expected to close within seven days.
Aequor Sells NASA and Others on Nontoxic Chemicals
A San Diego startup hopes to bring water-treating chemicals found in the ocean to space. Beyond that, Aequor has even broader ambitions, from reducing the use of toxic biocides in everyday products to treating superbugs.
Mitek Taking Time To ID Best Buyer
M&A: Mix of PE Firms, Strategic Buyers Eying Co.
Mitek Systems Inc. has been an acquisition target for Florida-based ASG Technologies, and its activist-investor owner, Elliott Management Group, for several months. Now, the San Diego fintech company may be able to choose from a few more suitors.
Friday, February 22
Viking’s Stock Climbs Following Competitor’s NASH Results
Viking Therapeutics’ stock has climbed after another company’s disappointing results in the first late-stage clinical trial of a fatty liver disease.
Thursday, February 21
Special Report: Life Science Firms Show Increased Interest In North County
BIOTECH: Why Pay More Is One Company’s Philosophy
When Ionis Pharmaceuticals was looking for a new home, it chose Carlsbad over the more traditional sites for life science companies in central San Diego County.
Boutique CROs Find Themselves in Demand
BIOTECH: M&A in the Air at Contract Research Organizations
A crop of San Diego companies quietly play niche roles in drug development. But suitors have taken notice.
Dexcom Reports 53% Increase in Q4 Revenue
Dexcom in fourth quarter financials reported that revenue shot up 53 percent year-over-year to $338 million.
RedHill Realty Buys Seattle Area Apartment Community
Project has 386 apartments.
PSemi Names New CEO
San Diego chipmaker PSemi Corp. and its parent company, Murata Manufacturing Co. Ltd., have named a new CEO for PSemi. Sumit Tomar will take the job on July 1.
Connect CEO Leaves for a New Venture
Connect CEO Greg McKee is leaving the San Diego accelerator to co-found Torrent Ventures.
Rolando/College Area Apartments Sold For $17.9M
Complex has been renovated
Anheuser-Busch Acquires Cutwater Spirits
Founded in 2016, Cutwater Spirits was founded by Ballast Point and will continue to be led by its senior management team.
Seltzer Caplan McMahon Vitek Appoints New Chairman
Seltzer, who joined the firm in 1976, focuses on real property, business law and commercial financing.
Wednesday, February 20
With Market Intelligence, Co. Hits the Beach Running
RETAIL: Sand Cloud Changed Business Plan to Maximize Growth
In the words of famous musician Jay-Z: men lie, women lie, numbers don’t.
Startups: Software Startup Looks to Get the Lion’s Share of Real Estate
San Diego sales software companies started 2019 off strong, with Seismic reporting $100 million in revenue, another notch toward a potential IPO. A younger software startup, LionDesk, also has ambitious plans.
ResMed, Fisher & Paykel Settle Patent Infringement Litigation
A wide-ranging patent dispute between San Diego-based ResMed and Fisher & Paykel Healthcare has come to an end.
NuVasive Reports Q4 Results
NuVasive reported net income of $12.2 million, or $0.23 per share, in fourth quarter results.
Alaska Airlines Launches Nonstop Service Between SAN and El Paso
The addition makes El Paso the 31st nonstop destination from San Diego offered by Alaska Airlines, according to a press release, and the third nonstop destination to Texas, joining Austin and Dallas Love Field.
Commercial Real Estate: North County Campus Coming to Life, Billed as Model for Disabled Services
A 20-acre site in what was once farmland in the Twin Oaks Valley Region of San Marcos is being transformed into a campus for what will become a model development for providing services to the developmentally disabled.
Jack in the Box Posts Q1 Financial Results
Net earnings were $34.1 million, or $1.19 per diluted share, for the first quarter of fiscal 2019, compared with $12.2 million, or 43 cents per diluted share, the prior year quarter.
Tuesday, February 19
Pumping The Gas
TECHNOLOGY: Qualcomm Moves on Automotive Business as Smartphone Sales Slow
Look closely enough, and you might see Qualcomm Inc. testing self-driving cars on its Sorrento Valley campus. The San Diego-based chipmaker acquired a testing permit from the Department of Motor Vehicles in 2017, and converted a vacant parking lot into a roundabout to take its technologies out for a spin.
Tourism & Hospitality: Cannabiniers Wants Piece Of The Pie
According to The State of Legal Marijuana Markets report, released mid-2018 by Arcview Market Research and BDS Analytics, the legal cannabis business in the United States is projected to be a $23 billion industry by 2022. And, Little Italy-headquartered Cannabiniers, a cannabis brand management company, wants a piece of the pie.
San Diego Startup Portfolium Sold to Education Software Company
Portfolium sold to Salt Lake City-based education software company Instructure for an undisclosed amount.
Scripps, UC San Diego Health Land Opioid Treatment Grants
Scripps Mercy Hospital San Diego landed a $260,000 grant for opioid disorder treatment, the California Bridge Program recently announced.
Cubic Cash Dividend to Go Out March 12
Cubic Corp. announced on Feb. 18 that its board approved a semiannual dividend of 13½ cents per share. The dividend is payable on March 12 to shareholders of record on March 1.
San Pasqual Band of Indians Appoints New Tribal Business Committee
Stephen W. Cope is the newly elected chairman of the tribal Business Committee.
Tourism & Hospitality: Angel Shave Club Hopes To Empower Women
For Iskra Tsenkova, launching a women-focused shave club wasn’t just about providing girls with inexpensive, female-centric shaving tools, but a way to use the universal platform of shaving to inspire women around the world.
Qualcomm Rolls Out New 5G Modem
Qualcomm unveiled its second 5G modem, the Snapdragon X55.
Monday, February 18
San Diego Makes Forbes’ Travel Guide’s 14 Top Destinations of 2019 List
According to the tally, revealed this week, the featured locations don’t just boast fun music festivals and a decent number of restaurant openings.
Cellular Aquaculture Co. Seeks to ‘Grow’ Seafood
ENVIRONMENT: BlueNalu Puts A Biotech Twist on Catching Dinner
To satisfy the world’s growing appetite for seafood, one San Diego company is exploring laboratories rather than the ocean.
New EvoNexus Round Targets Defense-Tech
STARTUPS: San Diego Accelerator Teams Up With Viasat, Cubic for Program
San Diego tech accelerator EvoNexus has gained a new corporate backer. Cubic Corp., a San Diego company that develops defense and transportation systems, will join the accelerator for the first time to launch an application round with Viasat Inc.
Amplyx Pharmaceuticals Snags FDA Orphan Drug Designation
San Diego-based Amplyx Pharmaceuticals’ lead drug candidate received an orphan drug designation for a condition that can be life-threatening for HIV/AIDs patients and others.
Laptop Expands Unmanned Aircraft’s Portability
General Atomics Aeronautical Systems Inc. publicly announced the next piece of technology that will command its advanced MQ-9B remotely piloted aircraft.
Salinas Sale Brokered By San Diego County Firm
Building is leased to 7-Eleven
Defense & Technology: Northrop Grumman Gets Fire Scout Work
The U.S. Navy is buying five additional MQ-8C Fire Scout helicopters from Northrop Grumman Corp., as well as two lightweight fuel cells, under a $55.1 million contract modification awarded on Jan. 30.
Hera Hub to Open New Coworking Space in Temecula
Hera Hub will open a new coworking space in Temecula.
Sunday, February 17
Special Report: An In-Demand Address
REAL ESTATE: Raw Land Scarce, Reuse Eyed in North County
Despite the shrinking inventory of raw land, demand for North County property is going strong, with low vacancy rates for industrial and office property.
Drinking, Prohibition Era Style, Fuels Speakeasy Lookalikes
DINING: Millennials’ Desire For Experiences Brings Them To Local Establishments Serving Alcohol In the Style Of When It Was Banned
While alcohol is completely legal today, speakeasy-style bars are making a comeback. From UTC’s Raised by Wolves to Kearny Mesa’s Realm of 52 Remedies to Noble Experiment located downtown, San Diego has seen a bunch of them pop up around the county lately.
Escondido Apartment Complex Sold For $19.5M
Complex has 98 apartments
AMN Healthcare Reports Fourth Quarter Results
AMN Healthcare recently reported $529 million in fourth quarter revenue, a 4 percent year-over-year increase. San Diego-based AMN is the country’s largest health care staffing agency.
Contractor Selected for Tenth Avenue Marine Terminal Project
This will include the demolition and disposing of a second transit shed, rail and stormwater improvements and new pavement.
Teamwork Athletic Apparel to Lay Off 90 Employees
The terminated positions include customer service representatives and material bundlers.
Former National City Toys "R" Us Building Leased
Building is leased for 10 years
Business Events Calendar for Week of February 18, 2019
Business events scheduled in the county.
Philanthropy: Feed the Kids Food Pantry Gets Stocked Up
GBOD Hospitality Group, the team behind Mezé Greek Fusion, Havana 1920, El Chingon, Prohibition Liquor Bar, Monkey King and Mezé at Liberty Station, presented It’s All About The Kids foundation with a check for $17,500 at its holiday party for kids at the Feed The Kids Food Pantry.
Philathropy: Hardcore Fitness’ Donation Is a Lifesaver and Life Changer
Hardcore Fitness San Diego donated $2,600 to local nonprofit Fresh Start Surgical Gifts to benefit kids with physical deformities. All proceeds will benefit the Fresh Start Medical Program that provides free-of-cost reconstructive surgery for infants, children and teens with physical deformities caused by birth defects, accidents, abuse or disease.
Philanthropy: Another Winning Effort by Helen Woodward Animal Center
The Helen Woodward Animal Center announced that Center Pet Encounter Therapy Manager, Robin Cohen was presented the 10 News LEADership award for her decades-long work in sharing the love of animals with those in need throughout our community. Cohen has led the center’s Pet Encounter Therapy, or PET, program for 25 years.
Philanthropy: Bank Enriches Lives With Support of Music Program
U.S. Bank announced that it awarded $5,000 to the San Diego Center for Children’s Music Enrichment Program. The music program empowers youth with mental, emotional, or behavioral disorders to overcome the challenges they are experiencing and the obstacles that keep them from achieving their greatest potential.
Philathropy: Tea by the Sea Supports Artistic Expression
St. Madeleine Sophie’s Center, or SMSC, partnered with The Marine Room to host the annual Tea by the Sea celebration recently. The event hosted 210 guests and raised more than $19,000 to fund SMSC’s art program, where students can explore their creativity through a variety of artistic mediums at Sophie’s Gallery.
Commercial Real Estate: Real Estate Investors Eyeing S.D.; Growth Rate of 15 Percent Predicted in 2019
San Diego will be one of the 10 hot spots in the nation in 2019 for commercial real estate investment, according to a company that provides environmental reports on commercial real estate property.
Commercial Real Estate: Multifamily Growth Prompts New Sudberry Division
Sudberry Properties is building so many apartment projects so fast that it is creating its own residential development division to oversee them.
Defense & Technology: Viasat Grows Revenue, Takes $10.4M Loss, Places Order for Third ViaSat-3 Satellite
Grow, grow, grow. Satellite communications specialist Viasat Inc. set revenue records for all three of its business segments during the quarter ended Dec. 31.
Gossamer Bio Goes Public with Upsized $276M Offering
Gossamer Bio — a closely watched San Diego biotech during the government shutdown — made its public debut Feb. 8 with an upsized $276 million offering.
Life Sciences: Oncology Conference Puts Ideas Into Action
The 350 attendees are proven men and women of action.
LIfe Sciences: Analysts Skeptical of Smith & Nephew Acquiring NuVasive
A recent report stated that Smith & Nephew Plc has held talks to buy San Diego spine surgery company NuVasive. But analysts largely said the deal doesn’t make sense for the British firm.
SDBJ Insider: Book Offers Advice From a Woman Who’s Been There
Robin Toft has accomplished what she thought she would do way back when: Be an inspirational speaker. She’s penned a 147-page book which essentially sets you up with solid advice from a seasoned head hunter.
Thursday, February 14
Agriculture Biotech Cibus Postpones IPO
San Diego-based Cibus postponed its initial public offering, citing “current market and technical conditions.”
Credit Data Analytics for Zebit’s Lending Model
FINANCE: Company Is Able to Avoid Harsh Penalties for Delinquencies
An under-the-radar San Diego e-commerce startup is looking for creative solutions to provide credit for underbanked customers.
SD 500: Mary Ann McGarry
SD 500 recap: Mary Ann McGarry has built Guild Mortgage Co. into one of the nation’s leading lenders with 344 offices in 29 states, more than 4,000 employees and annual loan volume of $16 billion.
San Diego Kombucha Startup Moves to 'Historic' Digs; Athletes, VCs Invest
JuneShine, a one-year-old kombucha startup, moved into Ballast Point's former Scripps Ranch facility after closing a seed round of funding.
East Village Apartment Site Picks Its Own, Unusual Design Path
PROPERTY: Oversupply Said Not to Be a Problem; More Development Expected
East Village, the site of many a new luxury apartment tower, is getting something different — an apartment project that is relatively short at seven stories and not all glass and steel like many of its competitors.
Lithium-Battery Maker Flux Power Grows Revenue
Flux Power Holdings Inc. reported a net loss of $2.92 million on revenues of $2.7 million for the second quarter of its fiscal year. Revenue grew 126 percent from the same quarter last year, when Flux had $1.2 million in sales.
SD 500: Navid Alipour
SD 500 recap: Navid Alipour is co-founder and managing partner of Analytics Ventures, a dedicated fund operating under a venture studio model co-founding companies in the AI & Machine Learning space.
Mission Valley Office Building Sold For $3.9M
Building was fully leased
Carlsbad Industrial Building Sold For $2.5M
Building was constructed in 1987
Wednesday, February 13
Navy Renames Point Loma Labs
SPAWAR Systems Center Pacific, the U.S. Navy’s electronics lab complex on Point Loma, has changed its name to Naval Information Warfare Center Pacific.
Qualcomm Spins Off Wireless Car Charging Tech
Qualcomm sold its Qualcomm Halo IP assets to WiTricity.
Elevator Agency and Organik SEO Merge and Rebrand as Digitopia
According to a press release, the brand will work with both B2B and B2C clients to build their digital marketing programs.
Westcore Properties Acquires Azusa Industrial Property
Purchase price ws $8.8 million
Willow Glen Apartments Sold For $17.9M
Complex has 97 apartments
Arcturus Therapeutics Regains Full Rights to Drug Candidate
San Diego-based Arcturus Therapeutics on Feb. 12 reassumed full rights to its flagship drug candidate, after CureVac opted out of development plans.
SD 500: George Pasha IV
SD 500 recap: George Pasha IV is the third-generation leader of The Pasha Group, a global logistics and transportation company.
SD 500: Lesley Cohn
SD 500 recap: Lesley Cohn and her husband, David, have been operating restaurants locally for more than 35 years.
Another S.D. Unicorn: TuSimple Tops $1B Valuation with $95M Funding Round
TuSimple, a self-driving truck company, became the latest San Diego startup to be valued above $1 billion.
Tuesday, February 12
Constructing A Legacy: Experience, Bonds Are Building Materials Of Family Business
In 1983, Doug Barnhart created what became San Diego’s biggest home-grown construction company — Douglas E. Barnhart Inc. Then, in 2008, he sold it when he was diagnosed with prostate cancer.
Sempra to Sell Wind Assets for $551M
Sempra Energy said on Feb. 12 that it has agreed to sell its wind generation assets to American Electric Power for $551 million in cash. It's part of a wider effort to divest of its generation and natural gas storage assets.
SD 500: Constance Carroll
SD 500 recap: Constance Carroll has been chancellor of San Diego Community College District since 2004, guiding the second largest community college district through unprecedented expansion funded by a $1.555 billion bond program, for which the district received Moody’s and Standard and Poor’s highest possible rating.
Sony Seeks Workforce That Is ‘Ready Now’
LEADERSHIP: Recruitment, Inclusion Efforts Vital to Success
As chief operating officer of Sony Electronics in Rancho Bernardo, Mike Fasulo has one focus: developing the next generation of talent and leadership at Sony.
Scripps to Build Larger Behavioral Health Unit
Through a joint venture Scripps Health has planned a 120-bed behavioral health facility in Chula Vista that will replace a smaller behavioral health unit at Scripps Mercy Hospital.
JuneShine Acquires Ballast Point’s Scripps Ranch Facility
JuneShine’s North Park location will remain open concurrently.
Linda Vista Apartments Sold For $11.6M
Complex has 45 apartments
SD 500: Carin Canale-Theakston
SD 500 recap: Carin Canale-Theakston founded Canale Communications in 2010, which has provided senior level strategy consulting to more than 250 life science companies, from startups to billion-dollar publicly held companies such as Amgen and Johnson & Johnson.
MG Properties Group Acquires Nevada Apartments
Complex has 184 apartments
Downtown Parking Garage Sold For $6.3M
Garage has 265 spaces
Monday, February 11
Qualcomm Sells Mobile Health Subsidiary
Qualcomm Life was sold to private equity firm Francisco Partners. It will be renamed Capsule Technologies.
Sensors’ Price, Size and Power Source Are Right for IoT
After Qualcomm Inc. bought his first startup for $300 million, a company that made wireless chipsets, Wilocity founder Tal Tamir had another big idea. His newest company, Wiliot, is focused on making tiny, sticker-sized Bluetooth sensors that can be sold at less than a cent apiece.
Startup Ciari Guitars Looks to Win By a Neck
After Jonathan Spangler’s San Diego-based guitar startup made its big debut in America’s Music City, Spangler is gearing up to manufacture and sell his first products this summer. His company, Ciari Guitars, creates professional-quality, foldable guitars designed to fit into the carry-on compartment of an airplane.
Potential Acquisition of NuVasive Draws Analyst Skepticism
A recent report stated that Smith & Nephew Plc has held talks to buy San Diego spine surgery company NuVasive. But analysts largely said the deal doesn’t make sense for the British firm.
Palomar Triad Office Building In Carlsbad Sold For $9.2M
Building was renovated in 2013
SD 500: Christopher Cramer
SD 500 recap: The CEO of the Karl Strauss Brewing Co., Christopher Cramer leads one of the original craft breweries in San Diego.
Otay Mesa Industrial Building Sold
Building was renovated in 2017
SD 500: Ben Badiee
SD 500 recap: Ben Badiee has been in the development business since 2003 but has seen incredible growth in North County, ranking among the top five fastest growing private companies in the county for each of the past two years.
Equinox Project Moves to USD
The reason for the move is because of the resources USD can provide Equinox in its mission to continue to provide data that addresses regional growth for local neighborhoods and communities.
City Heights Apartment Building Sold For $2.5M
Building has 20 apartments
Kimberly Deverell Appointed to National Association of Music Merchant’s Board of Directors
In her new post, Deverell will serve a three-year term and provide guidance for the advancement of the music products industry.
Sunday, February 10
Gossamer Bio Goes Public with Upsized $276M Offering
Gossamer Bio — a closely watched San Diego biotech during the government shutdown — made its public debut Feb. 8 with an upsized $276 million offering.
Boutique Gyms Ready to Compete for Bigger Market Share
FITNESS: Personal Service, Community Feel Attract Membership
Sharon Camarillo, a Scripps Ranch resident, has typically worked out in the comfort of her home or sometimes at her local community club.
Sempra LNG Plant Close to Opening
Sempra Energy is poised to start production on the first unit of its Cameron liquefied natural gas (LNG) export plant in southern Louisiana. Separately, Sempra announced on Feb. 7 that it completed the sale of its non-utility natural gas storage assets to ArcLight Capital Partners for $328 million in cash.
Report: NuVasive in Talks to be Acquired in $3B Deal
Smith & Nephew Plc has held talks to buy San Diego-based NuVasive, a spine surgery company that analysts have called an acquisition target.
Vista Industrial Building Sold For $7.8M
Building sold to avocado packer.
NASH Race Has Room For Multiple Winners
BIOTECH: Five S.D. Cos. Trying for Liver Therapeutic
It’s a market forecast to reach upward of $35 billion. And it’s untapped — for now.
SD 500: Trevor Callan
SD 500 recap: Trevor Callan co-founded Callan Capital with his brothers, Tim Callan and Ryan Callan, in 2007.
SD 500: Betsy Brennan
SD Recap: After six and half years away, Betsy Brennan returned to San Diego in 2018 to serve as president and CEO of the Downtown San Diego Partnership, the privately funded nonprofit that promotes and supports downtown’s business community.
Kearny Mesa Office Building Sold For $3.8M
Building was 95 percent leased
Contest Offers $1 Million Prize for Healthcare Innovation
The Alliance Healthcare Foundation is offering a $1 million prize for health innovations for vulnerable populations in San Diego and Imperial Counties.
Former Fire Station Sold For $3M
Building was constructed in 1900
The University Club at Symphony Towers Appoints New Chairman
According to a press release, Dan Hom joined the University Club in 1993.
Business Calendar for Week of February 11, 2019
Business events scheduled in the county.
SDBJ Insider: Halozyme’s Platform Keeps Delivering For Company
The partnership deals just keep rolling in for Halozyme Therapeutics’ drug delivery technology.
Know Problems: Co. Smooths Road for Group Travel
Brian Liebman is used to advising CEOs on how to grow and build their companies. But, now, he’s ready to make boss moves himself.
CUSTOM CONTENT: Maximize Your Real Estate Investments at Max NOI San Diego on March 5
Are you a real estate investor in the San Diego area who would like to boost your monthly rental income and make owning property more efficient? If so, join MYND Property Management on March 5 for a luncheon and educational workshop at the Hard Rock Hotel featuring expert real estate investors and industry leaders, as well San Diego’s top dealmakers.
Rotary Mobilizes to Deliver Much-Needed Emergency Grant
San Diego Rotary, the fourth largest Rotary Club in the world, announced an emergency $10,000 grant to the nonprofit Alpha Project. The funds will be utilized to replace much-needed supplies lost when the homeless shelter flooded out during recent winter storms.
JA’s New Leader Will Help Shape Next Generation of Business Leaders
Junior Achievement of San Diego County announced that Siddhartha “Sidd” Vivek joined the organization as its new president/CEO in late January 2019, succeeding interim President Steve Rowe.
Students Take Active Role In ‘Repairing the World’
Students from the San Diego Jewish Academy recently presented more than $7,000 of their Hannukah charitable project that reflects the Jewish value of Tikkum Olam or “Repairing the World.”
Restaurant Group Truly Served the Public
December 2018 was a month of giving from its 8th annual Rise & Shine Christmas Dinner to its December-long Woosley Fire donation.
Padres Pedal the Cause Rides to A Record Fundraising Effort
Padres Pedal the Cause presented a check for a record-breaking total of $2,940,837 recently to beneficiary representatives from Moores Cancer Center at UC San Diego Health, Sanford Burnham Prebys Medical Discovery Institute, Salk Institute for Biological Studies and Rady Children’s Hospital–San Diego.
Polishing a Gem: Right Touches Take House to Next Level
Inspired by her travels in Indonesia, Thailand and other parts of Asia, Renee Linder has intuitively incorporated the four basic elements essential to life — earth, fire, water and air — into this home in Rancho Del Mar.
Longfellow Taps San Diego Talent
Fresh off its acquisition of 14 industrial buildings in Sorrento Valley, Longfellow Real Estate Partners based in Boston further cemented its position in San Diego by hiring local real estate veteran Nick Frasco as managing director of its West Coast operations.
No Relief for Renters
Investing in apartment projects continues to pay off throughout most of San Diego County with rents in most cities continuing to climb.
Life Sciences Continue to Boost Market
It’s probably no real surprise, but Cushman & Wakefield recently reported that the life science industry was a driving force behind commercial real estate investment in San Diego and elsewhere in 2018 and is likely to perform well in 2019.
Brokers Don’t See Reason to Add Their Voices to Downturn Chorus
Demand for office space cooled in San Diego County for the fourth quarter of 2018 but the outlook for 2019 is favorable, according to commercial real estate brokers, while demand for industrial space finished the year on a mixed note.
Lessons of Great Recession Still Fresh in Nonprofits’ Memories
GIVING: They Prepare By Improving Connections With Donors, Cutting Debt
The bitter experience of the Great Recession sticks in the minds of the people running San Diego’s nonprofit organizations.
The Culture Club
Philanthropists, Donors Deliver Needed Dollars for Cultural Institutions
Like other cultural spots in San Diego, Balboa Park is built atop civic support, exists on revenue from admissions and programs — but only flourishes with the help of charitable giving.
Broken Yolk Owner Built Up a Breakfast Chain Empire
DINING: Restaurant Has 31 Locations; Owner Takes Active Role in Franchising
For John Gelastopoulos, faking it till he made it was key to the initial success of his restaurant, Broken Yolk Cafe.
Big Names Come to Small Agency For Creative Focus
From quitting the hotel industry — twice — in the ’90s to getting awarded for her work with the sector just last month, things have come full-circle for Indra Gardiner Bowers.
Friday, February 8
Gossamer Bio Goes Public with Upsized $276M Offering
Gossamer Bio — a closely watched San Diego biotech during the government shutdown — made its public debut Feb. 8 with an upsized $276 million offering.
Thursday, February 7
As Deadline Looms, Biotechs Take Stock of Last Government Shutdown
The government shutdown ended Jan. 25, but lingering effects are evident in San Diego life sciences, from a halted merger to initial public offerings.
Education Is One of the Tools Solar Company Relies On
ENERGY: Sullivan Tackled Petco Project, School Installations
Daniel Sullivan has watched his company grow up alongside the market for home solar energy systems in both San Diego and across California.
Viasat Grows Revenue, Orders Third ViaSat-3 Satellite
Satellite communications specialist Viasat Inc. reported a net loss of $10.4 million, or 17 cents per share, on total revenues of $554.7 million during its third quarter, which ended on Dec. 31. The Carlsbad-based corporation reported “exceptional performance” that set revenue records for its three business segments.
Teradata Boosts Subscription Revenue as it Continues Turnaround
Teradata saw a larger portion of its revenues come from subscriptions last year, as the company pushes toward a SaaS model.
Report: Apple May Enter Modem Business
Apple may look at developing its own modems, according to a Feb. 7 report.
Newport Beach Firm Buys Four San Diego County Industrial Buildings
Buildings are in Carlsbad and Sorrento Mesa
SD 500: Teresa Halleck Campbell
SD 500 recap: Teresa Halleck became CEO of San Diego County Credit Union in 2010.
SD 500: Paul Hering
SD 500 recap: Paul Hering is the West Region chief executive officer of Marsh & McLennan Agency and is responsible for setting strategy and managing operations for the western U.S. region.
Equillium Receives Orphan Drug Designations
The U.S. Food and Drug Administration granted orphan drug designations to San Diego-based Equillium’s drug candidate for the prevention and treatment of a tissue disease.
Investment Group Buys Sorrento Mesa Office Complex
Company plans $5.2 million in renovations
Lakeside Apartment Building Sold For $2M
Building has 11 apartments
Talmadge Apartments Sold For Nearly $7.7M
Building has 36 apartments
Wednesday, February 6
Hera Labs Graduates Largest Class of Female Entrepreneurs
Hera Labs graduated 24 women from its program for female entrepreneurs
Callaway Golf Announces Record Sales of $1.24B for 2018
Callaway’s non-GAAP 2018 earnings per share were $1.07, a 102 percent increase over the 2017 figure.
Various Contractors Have Part in Work on Zumwalt-Class Destroyers
The U.S. Navy commissioned its futuristic Zumwalt-class destroyer, the USS Michael Monsoor, with traditional ceremonies that included a 19-gun salute in late January.
Cubic Reports $305M in First Quarter Sales
Cubic Corp. reported a net loss of $6.6 million or 23 cents per share on net sales of $305.3 million during the quarter ended Dec. 31. The Kearny Mesa-based corporation — which specializes in transportation and defense technology — reported its financial results on Feb. 6.
Co. Aiming for 2.5 Million Square Feet In the Local Life-Science Submarkets
The Boston-based development company that made a dramatic entry into the San Diego life-science market in November is expanding its local presence with a promise of more to come.
Biotech Investors Often Bet on Familiar Faces
FINANCE: Investors See Pluses In Past Success, Experience
San Diego biotech’s growing roster of rising stars and veteran leaders helped propel the region to new fundraising heights in 2018, observers say.
SD 500: Scot Chisholm
SD 500 recap:Scot Chisholm co-founded Classy, an internet fundraising site, in 2011.
SD 500: Steven Sefton
SD 500 recap: Steven Sefton is president of of San Diego’s newest bank, Endeavor, the first bank to open in the county in 10 years.
Though It Can Look Way Back, Agency Is Forward-Looking
REAL ESTATE: Firm Persists, Grows, Adapts; Typical Sale is $1.2M
When Frederick L. Brown opened his real estate office in La Jolla in 1914, the seaside enclave had only recently gotten electricity, the streets were just starting to be paved and La Jolla had a population of less than 400.
Tuesday, February 5
Port of San Diego Welcomes Two Inaugural Cruise Calls
As California’s third-busiest cruise port, the Port of San Diego is anticipating approximately 92 cruise calls and nearly 300,000 passengers in fiscal year 2019-2020.
Upcoming Solar Panel Mandate on New Homes Has Installers Preparing For Surge in Demand
A state mandate to include solar panels on all new homes built in California starting in 2020 is expected to boost the bottom line of companies that install solar energy systems on the rooftops of homes throughout Southern California.
Italian Air Carrier to Offer Viasat Wi-Fi
Viasat said it has reached an agreement with the Italian airline Neos S.p.A. to provide in-flight Wi-Fi connectivity to Neos’ fleet of Boeing 787 Dreamliner aircraft. Financial terms of the deal, announced Feb. 5, were not disclosed.
Tax Reform Aims to Keep IP in the U.S.
FINANCE: Incentives May Come Up Short for Some Cos.
The decision of where growing San Diego companies should file their patents became more complex, thanks to tax policy changes that went into effect last year.
Neurocrine Reports Fourth Quarter Results
San Diego biotech Neurocrine’s fourth quarter earnings largely beat analyst expectations.
Techstars Anywhere Returns for Second Startup Cohort
After graduating its first cohort of startups last April, Techstars Anywhere will return for a second year.
SD 500: Killu Sanborn
SD 500 recap:Killu Sanborn is senior director of business development at Oxford Finance, whose current portfolio is about $1.7 billion invested in more than 150 companies.
SD 500: Vincent E. Mudd
SD 500 recap: Vincent Mudd is managing partner and principal for the region’s largest architectural firm, Carrier Johnson + Culture.
PriceSmart Declares 70 Cent Dividend
The board of San Diego-based PriceSmart, meeting on Jan. 30, declared a dividend of 70 cents per share, payable in two installments in February and August. PriceSmart (Nasdaq: PSMT) owns and operates 41 membership warehouse clubs in 12 countries and one U.S. territory in Central America, the Caribbean and Colombia.
Monday, February 4
PriceSmart Declares 70 Cent Dividend
Similarly, the board declared a 35 cent dividend payable Aug. 30 to stockholders of record as of the close of business on Aug. 15.
From Little Known to IPO: INmune Bio Raises $8.16 Million in Trading Debut
In the first biotech initial public offering of the year, La Jolla-based INmune Bio took in $8.16 million during its trading debut. The Nasdaq listing also raised the profile of what’s been a quiet operation.
Tesla Agrees to Buy Maxwell Technologies for $218M
Tesla Inc. has agreed to buy Maxwell Technologies, a San Diego company specializing in industrial-grade and vehicle-grade capacitors. Tesla has agreed to pay $4.75 per share of Maxwell (Nasdaq: MXWL) stock in an all-stock deal. The price is a 55 percent premium over Maxwell’s $3.07 closing share price on the previous trading day, Feb. 1.
Zebit Targets $100 Million in Revenue
San Diego ecommerce company Zebit passed 300,000 users at the end of January.
California Pacific Airlines Ceases Operations
In December, the airline suspended all January flights out of McClellan-Palomar Airport due to the nationwide pilot shortage.
PetDesk Overcame the Rough Spots, Looks to Expand Platform’s Capabilities
Taylor Cavanah’s company got its first big break after he took his dog to the vet.
Halozyme Nets $30 Million Upfront in Argenx Licensing Deal
Halozyme has licensed its drug delivery technology to yet another company.
No Home Team Means No Visitors and Less Money Spent
TOURISM: Opposing Teams’ Fans Ate, Drank and Stayed at S.D. Establishments
On Sept. 8, 2017, just days before the Los Angeles Chargers opened their season at their new digs in that city, Tilted Kilt Pub & Eatery in Mission Valley closed its doors.
Cubic Chooses CIO From Within
Cubic Corp. announced on Feb. 4 that it promoted Dan Hedstrom to chief information officer. He replaces Jan Marshall in the job. Hedstrom will manage the information technology team for Cubic (NYSE: CUB), which has more than 5,600 employees at 75 locations worldwide.
SD 500: Mark Payne
SD 500 Recap: Mark Payne joined Swinerton in 1999 and has been the lead executive in San Diego since 2012.
SD 500: Sabrina Johnson
SD 500recap: In 2015, Sabrina Johnson founded Daré Bioscience, a clinical-stage biopharmaceutical company committed to the advancement of innovative products for women’s reproductive health.
Sunday, February 3
Luxury Rising
PROPERTY: K1 Brings Unique Offering to Growing Field of High-End Apartments
A $120 million apartment tower that pays homage to San Diego’s Central Library is nearing completion in East Village in what brokers said is a robust market for new apartment construction that’s likely to continue in 2019.
Seismic Passes $100M Revenue Mark, Plans to Hire 300
Seismic Software passed $100 million in revenue at the end of 2018.
Environmental Review for Sempra’s Texas LNG Plant Concludes
Sempra Energy has passed another milestone on the road to building its liquefied natural gas (LNG) export facility in Port Arthur, Texas. The corporation said the project received its final environmental impact statement from the Federal Energy Regulatory Commission (FERC), which has yet to approve the project.
Nanomedical Diagnostics Changes Company Name
San Diego-based Nanomedical Diagnostics is now known as Cardea.
Perfect Snacks’ Creators Cracked a Tough Market to Succeed In
RETAIL: Each Step Made Business Sense And Was Well Executed
As kids growing up in Mission Beach, Bill Keith and Leigh Keith — and their 11 siblings — didn’t sell lemonade as a way to make money for their kiddy needs. Instead, the Keith children would band together and make their dad’s “perfect bar” to sell to their friends.
SD 500: Adela de la Torre
SDSU President
Urban Winery Finds Right Stomping Grounds
WINE: Key Locations, Hours, and Pricing All Cater to Customers
Adam Carruth, owner and winemaker of Solana Beach-headquartered Carruth Cellars, isn’t afraid to go against the grain.
SD 500: Art Engel
Art Engel
Business Calendar for February 4, 2019
Business events scheduled in the county.
Viasat Sells Wi-Fi Service in Underserved Rural Mexico
Viasat Inc. said in late January that its community Wi-Fi service is available to roughly 1 million residents south of the U.S.-Mexico border.
Balboa Park Conservancy Shines On Local and National Stage
The Balboa Park Conservancy announced that at the end of 2018 the nonprofit public-private partnership that cares for Balboa Park was certified as a Points of Light national Service Enterprise. At the same time, the Conservancy was awarded the San Diego Regional Urban Forest Council award for Best Urban Forestry Educational Project.
For Following MLK’s Example, MiraCosta College VP Is Honored
MiraCosta College leader Cynthia Rice was recently honored with City of Oceanside’s Dr. Martin Luther King Jr. Community Service Award. Rice, who serves as MiraCosta College’s vice president of institutional advancement, was celebrated at the annual Dr. Martin Luther King Jr. prayer breakfast Jan. 21.
Executive Q&A: Oliver Ratzesberger, Teradata
Oliver Ratzesberger was promoted from chief operating officer of Teradata to CEO on Jan. 14. Teradata provides database and analytics products to large corporations, such as Comcast, eBay and Coca Cola. Last year, the company moved its headquarters from Dayton, Ohio, to San Diego.
Relatively Cheap Rent in County a Sweetner for Biotechs
San Diego lab rents in the prior four years were consistently lower than the country’s two larger life sciences markets, San Francisco and Boston.
One Paseo Retail Goal Is for ‘Gathering Space’
Apparently, people no longer shop. They experience.
Gossamer Bio Is Back on Track For a Traditional IPO
With the government shutdown over, Gossamer Bio will take a traditional path to an initial public offering, abandoning a plan to sidestep the U.S. Securities and Exchange Commission.
Student’s Winning Video Puts Spotlight on Essential Services
Heath Dunbar, a student from La Costa Canyon High School in Carlsbad, recently won first place in the 2018 Districts Make the Difference Student Video Contest.
SDBJ INSIDER: San Diego - Where Tech Comes to Work and Play
Illumina, Qualcomm, Intuit, Sony, Viasat, Brain Corp., and others are featured. So are San Diego’s beaches, blue skies and cityscapes.
Golf Tournament Helps Bring Beauty to Communities
The 39th American Society of Landscape Architects San Diego Golf Tournament, presented by title sponsor Rain Bird, took place last fall at Maderas Golf Course in Poway.
PE Firm Buys Stake In S.D.-Based BioDuro
Private equity firm Advent International bought a majority stake in San Diego-headquartered BioDuro for an undisclosed amount, according to a recent announcement.
A Vessel Of Discovery
From the air, the ridges of five diamond-shaped metal roofs resemble the marquise cut of a fine diamond. The earth-toned metal structures crown the indoor living areas and shelter the outdoor spaces. Designed by renowned local architect, Ken Ronchetti, it’s a consummate design of form and flow. Like a sentry high above the sea at Torrey Pines Beach, the home is sited between dramatic crevasses of white and golden sandstone cliffs. Inside, angular, sculptural spaces of stone and glass echo the hues of the land and sea beyond. Around every corner, beyond every turn is an artful blend of visionary design with nature.
Exec’s Efforts in Foster Care Earn Her National Recognition
Walden Family Services, a San Diego-based nonprofit with offices in Los Angeles, Riverside and San Bernardino that provides foster care, adoption and transition-age housing agency, announced that Chief Operating Officer Sue Evans was elected to the national Family Focused Treatment Association, or FFTA, board of directors for a three-year term.
