Daily Business Report — March 30, 2010
Workshops From SCORE San Diego
SCORE San Diego has a month-long series of workshops for small business owners and entrepreneurs in April. For a list, scroll to the bottom of this column.
BRE Properties Buys into Monarch at Scripps Ranch
BRE Properties has purchased 194 units in the luxury Monarch at Scripps Ranch community for $46.2 million, the second major multifamily transaction involving a publicly traded REIT so far this year, according to Cushman & Wakefield. BRE Properties acquired 74 percent of the total 262 units in the project from Interwest Capital Corp. The remaining units had previously been converted to condominiums and are all individually owned. “This sale shows the increasing demand among institutional investors for well-located, high quality and amenity-rich apartment communities in San Diego County,” said Ed Rosen, executive director with Cushman & Wakefield’s San Diego office. “In 2009, not a single apartment community was acquired by a REIT, but already in the first quarter of 2010 we have seen two such transactions. This illustrates returning confidence in the investment community with respect to multifamily product and the San Diego market in particular.”
Rosen, along with John Chu and Alejandro Lombrozo, also of Cushman & Wakefield, negotiated the transaction for both the seller and the buyer. They also represented both parties involved in the first major sale of the year – the $44,750,000 acquisition of the 180-unit Del Mar Ridge community by Equity Residential. Additional details were not disclosed. The average price per unit of the Monarch sale was $238,144, and the average price per unit of Del Mar Ridge was $248,611.
Monarch at Scripps Ranch is located at 10776 Scripps Ranch Blvd., in San Diego. The sale to BRE Properties involves 12 three-story walk-up buildings set on 9.13-acres. The unit mix includes 80 one-bedroom, one-bath units; 108 two-bedroom, two-bath units; and 6 three-bedroom, two-bath units. Sizes range from 800 square feet to 1,450 square feet.
Tri-National Conference Focuses on Sustainability
U.S. Commerce Secretary Gary Locke and his Canadian and Mexican counterparts will discuss improvements in sustainability and the future of the green industry at the April 14 North American Competitiveness, Innovation and Clean Energy Conference. Locke will be joined by Canadian Minister of Industry Tony Clement and Mexico Secretary of Economy Gerardo Ruiz Mateos. Other invited participants include Gov. Arnold Schwarzenegger and Baja California Gov. Jose Guadalupe Osuna Milan. San Diego Mayor Jerry Sanders and Tijuana Mayor Jorge Ramos will introduce both U.S. and foreign ministers during the keynote luncheon address. The San Diego Regional Chamber of Commerce is hosting the event.
Representatives from the United States, Canada and Mexico will focus on how to advance innovation and competitiveness, and remove obstacles that hinder potential industry growth. Trilateral North American cooperation will be used as a driving force to increase job growth in the 21st century. Recommendations based on the outcomes of the conference will be shared with Mexico’s government officials when the San Diego Regional Chamber of Commerce’s Mexico Business Center travels to Mexico City in April.
The conference will be held in the main theater of the Joan B. Kroc Institute for Peace & Justice, 5998 Alcala Park, on the campus of USD. It runs from 8 a.m. to 5:30 p.m. with a keynote luncheon from 12:45 to 2:15 p.m. Attendance is $30 and $20 for students. To register, visit: sdchamber-members.org/MBC2.htm.
USD Panel Explores Health Care, Gov’t Spending
A panel of University of San Diego economics professors will discuss issues related to government spending and the newly passed health care legislation today at 1:15 p.m. in USD’s Manchester Conference Center Auditorium. Topics will include sustainable levels of national debt, the merits and ramifications of health care reform and the value of a second stimulus package. Participants from the economics department include Stephen Conroy, Joey Gabaldon, Alan Gin, Steven Sumner, Jonathan Sandy and Dirk Yandell. The event is sponsored by the USD Economics Council, a student group.
Free Workshop for Entrepreneurs
The University of Phoenix’s Kearny Mesa Learning Center will host an April 17 special event for small business owners and entrepreneurs that will include the outlook for small business in San Diego and business opportunities in the global market. The free Entrepreneurial Excellence Workshop will be held from 9 a.m. to noon at the Learning Center, 3870/3890 Murphy Canyon Road, San Diego. A keynote address, “Home Run Leadership Styles,” will be given by Dr. Casey Cooper, a sports psychologist. Othe topics to be covered include legal issues for the small business; Quickbooks accounting; finding money for your busiess, creating and marketing your Website; search engione marketing and social networking; and making the most of your marketing dollars. To sign up for the workshop, contact Gray Miller at (858) 650-4612 or kerrith.gray@phoenix.edu.
Author to Speak on ‘The Green Collar Economy’
Van Jones, New York Times best-selling author, will speak on “The Green Collar Economy: How One Solution Can Fix Our Two Biggest Problems” at 7 p.m. on May 11 in the UCSD Price Center Ballroom West. The event is free and open to the public with no tickets or reservations required. Jones wrote the national bestseller “The Green Collar Economy,” which provides a blueprint for re-tooling American industry to create pathways out of poverty and generate national economic recovery. “Van Jones is quite simply one of the few Americans in recent years to have generated powerful new ideas that are creating more jobs,” says Benjamin Todd Jealous, president and CEO of the NAACP, which awarded Jones the National Association for the Advancement of Colored People 2010 President’s Award. Jones presents the greening of America as both a moral imperative and a nuts and bolts economics issue. Lecture guests should enter campus at Gilman Drive. Parking is $4 after 4:30 pm in the Gilman Parking Structure. For additional information contact UCSD Extension’s Helen Edison Lecture Series at (858) 822-0510, email emunk@ucsd.edu or visit http://helenedison.ucsd.edu.
Attorney Named Receiver for Catalina Island Hotel
Attorney James Granby has been appointed receiver of The Catalina Beach House Hotel on Catalina Island by the Superior Court of Los Angeles County. As receiver, Granby has operational control of the hotel. His duties include providing management and cash flow controls for the property. The hotel is scheduled for foreclosure sale by the previous owner. The hotel has been a part of Catalina Island’s history since 1912 when Capt. Joseph McAfee purchased land on what is now called Marilla Avenue and hauled his flat bottom houseboat up the hill, turning it into what would become one of Catalina Island’s most charming hotels. Granby has served as a court-appointed receiver in Southern California for 20 years. He is of counsel to the law firm of Ferris & Britton.
Pacific Point Group Formed at Morgan Stanley Smith Barney
Brad Benter, Ken Abady and Steven DeMatteo have formed The Pacific Point Group at Morgan Stanley Smith Barney (MSSB) to focus on wealth management, lending and retirement service. Benter, first vice president, has been with MSSB since 2001 and in the financial services industry since 1992. Abady, vice president, has over 20 years industry experience. He designs, implements and monitors strategies related to asset management and lending solutions for high net-worth individuals and businesses. DeMatteo, second vice president, focuses on comprehensive financial management- including estate and retirement planning for business owners and their families, tax-free income solutions, and asset protection strategies. The group is located at the MSSB branch in Rancho Bernardo and can be reached at (858) 618-7915.
Somer Reynolds Joins ARK Management
ARK Management, a commercial property management company, has hired CPA Somer Reynolds as CFO and asset manager. Reynolds has eight years of experience in the industry, including property management, tax planning, consulting and preparation. Somer was previously a controller with LBA Realty, overseeing the accounting and coordination of operations, reporting, and tax processes for both the corporate and management offices as well as several real estate investment entities. Prior to LBA Realty, Reynolds practiced public accounting with Mayer Hoffman McCann P.C. and Considine & Considine. She holds a bachelor’s degree from USD.
SAIC Awarded $47.6 Million Naval Contract
Science Applications International Corp. has been awarded a contract by the Space and Naval Warfare Systems Center Pacific (SSC Pacific) to provide technical and engineering support services for security, surveillance and unmanned systems. The five-year contract valued at $47.6 million includes three, one-year award terms and has a potential value of more than $63 million, if all award terms are exercised. Work will be performed in San Diego. SSC Pacific is responsible for developing technology and capabilities that enable Navy and joint services decision makers to manage information essential to successful military operations.
Real Estate Sales
• Andrew Softely, DDS, purchased 1,283 square feet of office space at 955 Boardwalk, Suite 102, in San Marcos, from Park Place South LLC, c/o Pointe Ventures, for $518,332. Mark Avilla, Matt Campbell and Peter Curry of Cassidy Turley BRE Commercial represented the seller in the transaction. Monique Medley of Cassidy Turley represented the buyer.
• International Data Systems Inc. purchased 1,858 square feet of office space at 2556 Catamaran Way in Chula Vista from Alejandro Obeso Jr. for $276,000. Phil Linton of Cassidy Turley BRE Commercial represented the buyer in the transaction. Scott Shields of Scott Shields Real Estate represented the seller.
Real Estate Leases
• Secure Protective Services Inc. has leased 1,476 square feet of office space at 9606 Tierra Grande St. in San Diego from The Realty Associates Fund VII LP. The property leased for 36 months at $55,500. The lessee was represented by Kevin Calmenson of NAI San Diego. The lessor was represented by Doug Arthur and James Hamilton of SENTRE Partners.
Time Warner Cable Launches Technology Curriculum
Time Warner Cable has launched its newly created technology curriculum, “Cracking the Codes in the Digital World,” for middle school students in after-school settings. The curriculum is based on national science standards and showcases the science, technology, engineering and math (STEM) behind cable television. Time Warner Cable employees serve as mentors. The curriculum was developed in conjunction with Invent Now Inc. “At Time Warner Cable, we use science and math every day to deliver video, voice and high speed data services to 14.4 million customers across 28 states,” said Marc Farrar, vice president of public affairs. “This hands-on, discovery-based program for middle school students takes them out of the classroom and into our operations where our employees use STEM skills every day to do their jobs. Participants in “Cracking the Codes” will take part in several hands-on experiments that illustrate how a digital signal is created and transmitted, and the ways that people receive and request information and entertainment throughout the Time Warner Cable system.
SCORE San Diego’s Small Business Workshops for April
Workshop fees range from $29 to $109, depending on the program. Topics include: developing your business plan, starting and operating your own business, getting financing for your business, and basic business accounting, in addition to several workshops that examine marketing.
Upcoming Workshops:
• April 1 – Legal Issues: Contracts & 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).
• April 6 – Internet Marketing 301: Increase Sales Through Pay-Per-Click – 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).
• April 6 – Marketing for Nonprofits – 9 to 11:30 a.m. at The San Diego Foundation – Liberty Station (2508 Historic Decatur Road, #200, San Diego 92106; pre-paid registration $39, $49 at the door).
• April 7 – 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).
• April 8 – Financing Your Business – 9:30 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• April 8 – Internet Marketing 301: Increase Sales Through Pay-Per-Click – Carlsbad – 9 a.m. to noon at National University (705 Palomar Airport Road, Carlsbad, 92011; pre-paid registration $49, $59 at the door)
• April 9 – Financial Statements: What They Mean, How to Use Them – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
• April 10 – How to Start and Manage Your Own Business – 9 a.m. to 4:15 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).
• April 12 – 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).
• April 13 – Internet Marketing 302: Develop a Winning E-mail Marketing Success 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).
• April 14 – Financing Your Business – Carlsbad – 9:30 a.m. to noon at National University (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
• April 17 – 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).
• April 20 – Restaurant 201: How to Survive and Thrive in Today’s Economy – 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).
• April 21 – Business Plan 201: How to Write a Winning Business Plan – 9 a.m. to 3:30 p.m. at Point Loma Nazarene University in Mission Valley (4007 Camino del Rio South, San Diego 92108; pre-paid registration $99, $109 at the door).
• April 22 – Marketing & Contracting with State and Local Government – 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 $69, $79 at the door).
• April 23 – How to Start and Manage Your Own Business – Carlsbad – 9 a.m. to 4:15 p.m. at National University (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• April 26 – Internet Marketing 303: Social Media for Small Businesses – 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).
• April 27 – QuickBooks Basic – Carlsbad – 9 a.m. to 4 p.m. at National University (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• April 28 – Buying a Business – 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 $69, $79 at the door).
• April 29 – Small Business Marketing: Basics for Promoting Your Business – 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).
• April 30 – Financial Statements: What They Mean, How to Use Them – Carlsbad – 9:30 to 11:30 a.m. at National University (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door)
For more information on the workshops, call (619) 557-7272 or visit score-sandiego.org for online registration.
Business Datebook
April 2
COFFEE WITH CCDC: Staff of the Centre City Development Corp. hosts “Coffee with CCDC,” an informal session to discuss upcoming projects and new developments Downtown. Topics include parks, open space and recreation opportunities, waterfront revitalization, affordable housing, business attraction programs. 8 a.m., Downtown Information Center, 193 Horton Plaza, above CVC Pharmacy.
SEMINAR: National Association of Women Business Owners San Diego continues its monthly seminar series. Angie Swartz of Square Martini Media will present “Using LinkedIn as a Marketing Tool.” Noon to 1 p.m., Brandman University, 7460 Mission Valley Road, San Diego. NAWBO San Diego members free, nonmembers $25. Box lunches provided. Online reservations at nawbo-sd.org.
April 13
PANEL PROGRAM: The cost and legal ramifications of the proposed California High Speed Rail system will be discussed at a program sponsored by the Urban Land Institute San Diego/Tijuana. 7:30 to 9 a.m. at the University Club, 750 B St., in Downtown San Diego. Panelists: John Chalker, member of the California Transit Commission; Steve DeBaum, partner with Best Best & Krieger; and Job Nelson, director of intergovernmental relations for the San Diego Mayor’s Office. Moderator: Jose Martinez, regional program manager for the California High Speed Rail Authority. $40 for ULI members, $50 for nonmembers. To register, call (800) 321-5011 or visit ulisd.org.
April 17
FREE WORKSHOP: Entrepreneurial Excellence Workshop sponsored by the Universiy of Phoenix Kearny Mesa Learning Center, 3870/3890 Murphy Canyon Road, San Diego. 9 a.m. to noon. Topics include outllook for small business in San Diego, business opportunities, legal issues for small businesses, search engine marketing, among others. Sports psychologist Casey Cooper to talk on “Home Run Leadership Styles.” To sign up, contact Gray Miller at (858) 650-4612.
April 20
PRESENTATION: Juval Aviv, president and CEO of Interfor Inc., will discuss some of the major financial fraud cases he has investigated during 30 years in the corporate investigations field, including personal anecdotes. Sponsor: Association for Corporate Growth (ACG) San Diego. 7 a.m. registration, 9 a.m. program, Doubletree Hotel Hazard Center, 7450 Hazard Center Drive, SanDiego. Free for ACG members, $50 for nonmembers. Make reservations at acteva.com.
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.
