Daily Business Report-Sept. 29, 2009
Ad agency buys Downtown building
Advertising agency MeadsDurket purchased the 6,000-square-foot building at 502 10th Avenue in Downtown San Diego for $1.35 million. Kraig Kristofferson and Stacy Meronoff of CB Richard Ellis’ San Diego Downtown office represented the seller, San Diego Community Treatment Center. Dan McCarthy and Mike Morgan of Cushman & Wakefield represented MeadsDurket. Built in 1961, the building is located two blocks north of Petco Park at the northwest corner of 10th and Island avenues. MeadsDurket will renovate the building and move its company headquarters from 6863 Friars Road in Mission Valley. MeadsDurket creates brands for companies including Union Bank, Sempra Energy, Honda, Del Mar Thoroughbred Club, Kapalua Maui and Hoehn Motors.
Recovery package for builders
ULI San Diego/Tijuana will sponsor an Oct. 13 program on “Real Estate Development Stimulus — The Recovery Package for Builders” — a discussion about changes to development fees, tax credits, map extensions and other state and federal efforts to support the building industry. It will be held from 7:30 to 9 a.m. at the University Club, 750 B St., Suite 3400, in Downtown. The price is $40 for members, $50 for nonmembers and $25 for students. Panelists include Paul Barnes, branch president, Shea Homes; Borre Winkle, CEO, Building Industry Association; and John Ponder, attorney at Sheppard Mullin. Marcela Escobar, Atlantis Group, will serve as the moderator. To register, call (800) 321-5011 or visit www.ulisd.org.
SCORE San Diego gets new board of directors
SCORE San Diego will have a new board of directors effective Oct. 1.
The board oversees the organization’s free small business counseling services, which are conducted via the phone, Web, and face-to-face as well as the low-cost workshops to local small business owners and entrepreneurs. “Over the past two years, our board of directors has introduced free Web counseling for El Centro-area based businesses, provided more than 300 workshops to more than 5,000 local small business owners and continued to add new workshops, including our Internet marketing workshop series,” said Jack Philbin, incoming president. “These accomplishments helped our chapter win the 2009 National SCORE Chapter of the Year award.”
Board members are: Philbin, president; Monty Dickinson, immediate past president; Sigmund Penn, vice president, administration; Steve Eisold, vice president, counseling; Susie Sides, vice president, marketing; Greg Bowcott, vice president, programs; Laurie Ramsey, vice president, women’s programs; Sally Broff, secretary; Lawrence Johnes, treasurer/CFO; Tom Nichols, director-at-large; and Rod Means, district director.
Joye Blount joins U.S. Bank as adviser
Joye Blount has joined U.S. Bank as a wealth management adviser for the U.S. Bank Private Client Reserve in San Diego. Blount comes from Bank of America, where she had been since 1996. Most recently, she was a senior vice president responsible for fostering and developing new business for its private bank in San Diego. She also has experience in strategic communications and personnel management. Blount earned her bachelor’s degree in education from Winthrop University in South Carolina and a master’s degree in educational leadership from the University of North Carolina.
Student support campaign launched at UCSD
Because a growing number of potential students will need financial support to offset rising fees and the cost of living, Pauline Foster and Joan and Irwin Jacobs have joined with UCSD to launch a three-year, $50 million fundraising campaign called “Invent the Future: The UC San Diego Student Support Campaign.” Pauline Foster has made a $2.5 million charitable gift commitment to the Rady School of Management at UCSD to endow MBA student fellowships, which are scholarships for graduate students. Longtime campus supporters Joan and Irwin Jacobs—he is a former faculty member and co-founder of Qualcomm — gave $1.4 million to the Jacobs School Scholars and Fellows program, an annual donation that funds four-year undergraduate scholarships and first-year graduate fellowships to attract talented students to UCSD’s Jacobs School of Engineering.
UCSD’s 28,500 students started classes on Sept. 24. Undergraduate students will pay an estimated $24,930 per year for fees, on campus room and board, books and supplies, transportation and other living expenses; out of state undergraduates pay an additional $22,669 in nonresident tuition and fees. Graduate students living off campus face $28,293 in fees, tuition and other costs. Out-of-state graduate students must add another $15,036 to their educational budget.
Renovations completed at Pacific Doctors Park
Pacific Realty Advisors has completed extensive exterior improvements at Pacific Doctors Park, a 35,000-square-foot medical campus a quarter mile from Scripps Mercy Hospital in Chula Vista. The campus is currently 96 percent occupied by 20 tenants. The San Diego-based real estate investment and advisory company, with James T. Gianulis and Richard C. Dentt as general partners, acquired Pacific Doctors Park at 340-342 Fourth Ave. in 2008 for $8.8 million. Following the purchase, Pacific Realty Advisors brought in three large Diabetes Care tenants: Balboa Nephrology, California Institute of Renal Research and Fresenius Medical Care-Home Dialysis. Combined, these three tenants signed long-term leases totaling 6,000 square feet of new space and 13,000 square feet in renewable space.
Jeremy S. Dentt, project manager with Pacific Realty Advisors, retained JCJ Architecture and Kenard Construction for the improvement project which features a completely updated look with increased parking, new painting, landscape, stucco, ADA sidewalks, decongesting the exterior pathways, energy efficient windows, doors, wood trellis systems, parapet walls and a water fountain.
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