Daily Business Report — May 28, 2010
40 Under 40 Nominations
Nominations are still open for San Diego Metropolitan Magazine’s 11th annual 40 Under 40 awards. The nomination period ends May 31. The honorees will be feted at our annual luncheon on Sept. 9 at the San Diego Convention Center and profiled in the September issue of the magazine. Visit http://sandiegometro.com/40under40/ for a nomination form.
Economic Index Rises for 13th Consecutive Month
Strong gains in local stock prices and help wanted advertising, along with a minor gain in building permits, pushed the USD Index of Leading Economic Indicators for San Diego County to its 13th consecutive monthly gain in April.
The breadth of the advance was mixed, with half the components moving downward, although the drops in initial claims for unemployment insurance and the outlook for the national economy were relatively small. The biggest concern was a moderate fall in consumer confidence.
The outlook for the local economy continues to be for moderate growth for the rest of 2010, said economics professor Alan Gin, author of the index.
“There are signs that things are picking up, particularly on the all-important job growth front,” said Gin. “Employment has now been up month-to-month for three straight months. Revised data for March show 6,600 jobs added to the local economy, the most in over two years, and the 1,600 jobs added in April marked the first time since 2006 where jobs increased in an April compared to March.”
The sectors gaining the most in April were the federal government (up 1,600 workers, largely due to the Census), leisure and hospitality (up 1,100 jobs), employment services (up 600), and construction (up 500). On the downside, retail trade continues to contract (down 600 jobs) as local consumer confidence has hit a plateau and has been trending downward.
April’s increase puts the USD Index of Leading Economic Indicators for San Diego County at 109.2, up from March’s reading of 109.0.
New Concessionaire Kiosks to be Added to Transit System
A series of individually owned and operated “MTS StationShops” will be added at stations along the San Diego Metropolitan Transit System as a result of a nine-year, $2.75 million concessionaire agreement between MTS and BriceHouse Kobey LLC, an affiliate of The Kobey Corp. The StationShops are modular concessionaire kiosks. Each will offer a range of food and sundry items for purchase. They will replace the existing small kiosks. Two of the StationShops are now in place in Fashion Valley and C Street locations in Downtown San Diego. The new agreement affords not only greater value to commuters, but also enhanced business opportunities for the concession franchise owners as well as their vendors, according to MTS officials. Many of these outlets will more than likely need to hire additional employees as a result, the agency said.
BriceHouse Kobey expects MTS StationStops to be added at San Ysidro, the Gaslamp Quarter, San Diego Convention Center, Seaport Village, SDSU, and Grossmont Center over the next 12 months.
Rudolph and Sletten Chosen for Central Courthouse Services
Rudolph and Sletten Inc. has submitted the winning proposal to provide preconconstruction services, planning and construction management services for the new San Diego Central Courthouse project. The services include the solicitation of bids from subcontractors. Preconstruction services will begin this year, but construction is several years away. Subcontractor bidding is expected to take place in 2013. The Administrative Office of the Courts announced the winning proposal.
The proposed new courthouse will house 71 courtrooms in a high-rise totaling 704,000 square feet. It will replace the County Courthouse, Family Court, and Madge Bradley Court, which lack necessary security features and are overcrowded and inadequate for current court operations. With an estimated total cost of $633.9 million, the new San Diego Central Courthouse is the largest project to be funded through Senate Bill 1407, which finances much-needed new and renovated court facilities using court user fees rather than the state’s general fund. The new courthouse is expected open in early 2016. Skidmore, Owings & Merrill is the architect.
Kearny Mesa Industrial Building Sold for $3.2 Million
A 28,000-square-foot industrial building at 3738 Ruffin Road in Kearny Mesa has been sold for $3.2 million to Pete Aardema, who plans to hold the property as an investment. The building, which offers office space as well as 7,700 square feet of warehouse space, was constructed in 1978. The building features dock-high loading, five grade-level doors and a yard area. The property is currently available for lease. The seller, Ruffin 4 Partners LLC, was represented by Tim Hoag of Cushman & Wakefield. The buyer was represented by Joshua Volen of Marcus & Millichap.
Christopher Weil and Co. Leases Space in Del Mar Heights
Christopher Weil and Co., a San Diego-based financial services firm, has signed a 66-month, $1.2 million lease relocation and expansion for an additional 4,331 square feet of office space at High Bluff Del Mar, 12555 High Bluff Drive, Suite 180, in the Del Mar Heights area of San Diego. The additional space brings the company up to 6,521 square feet of total space in the project. In the transaction, the lessor, Scientific Investments LP, was represented by Brunson Howard of Cushman & Wakefield. Christopher Weil and Co. was represented by Glenn Friedrich of CresaPartners.
Sunwest Bank Names V.P. for New Encinitas Branch
Sunwest Bank has named Robert L. Cafaro as vice president and branch sales manager for its newly acquired Encinitas branch. Cafaro, who has more than 20 years of experience in the banking and finance industry, previously was vice president ande branch manager of US Bank in San Diego. He has worked at a variety of financial institutions in San Diego and Los Angeles counties, including City National Bank in Carlsbad and Citibank in Vista. During his five-year tenure with US Bank, he managed the Escondido regional office and served as the bank’s northern San Diego business development coordinator.
Sunwest Bank acquired three banks in the West in 2009, expanding the bank’s presence in Orange County with the acquisition of Pacific Coast National Bank of San Clemente and MetroPacific Bank of Irvine. Sunwest also expanded into Arizona with the acquisition of First State Bank of Flagstaff.
Union Bank Opens Priority Banking Center in Chula Vista
Union Bank has opened a new Priority Banking center at 410 H St. in Chula Vista. It is managed by Vanessa Cortez, who joined the bank in 2004 as a customer service representative for the Coronado/San Diego branch. Cortez’s responsibilities include providing individual consultation and offering specialized financial services to affluent individuals, families and small business owners. Cortez is a member of Lambda Theta Alpha-Latin Sorority Inc., the Chula Vista Centennial Committee’s marketing team and the San Diego chapter of La Raza Lawyers Association.
Corporate Sales Manager Appointed at La Costa Resort and Spa
Mary Ellen Hamor has been appointed corporate sales manager of La Costa Resort and Spa in Carlsbad. Hamor has over 20 years of experience in sales, consulting and executive management. Most recently, Hamor was a manager of global accounts for HelmsBriscoe. Previous to that, she was a hotel consultant for Tower 23 Hotel in San Diego and the director of sales for Hotel Parisi in La Jolla. Hamor began her hospitality career in New York at Ultramar Travel Management International, The Park Central Hotel and the hotel collection of Small Luxury Hotels of the World. Hamor received a bachelor’s degree from Lebanon Valley College in Pennsylvania.
Degree in Kinesiology to be Offered at Cal State San Marcos
Cal State University San Marcos Extended Learning will offer a bachelor’s degree program in kinesiology this fall at its new campus in Temecula, which is under construction and scheduled to open in August. Kinesiology refers to “the study of human movement.” The increasing concern over obesity has sparked renewed interest in the study of physical education and kinesiology. When the facility opens, the university will offer two master’s degrees and three undergraduate degrees at the site, including the Bachelor of Science in Kinesiology program.
“Kinesiology is one of the fastest growing majors at CSUSM,” said Kara Witzke, department chair of kinesiology. “There is a large need for health and wellness professionals in the Southwest Riverside region and, given one of the program’s primary goals is to prepare students to be immediately employable upon graduation, we expect the program will be a welcome addition to CSUSM’s existing Temecula degree program offerings.”
For more information about the kinesiology program in Temecula, visit csusm.edu/el/kinesiology or call (760) 750-4020.
Program Focuses on Buyers and Sellers of Distressed Properties
Michael Bergthold of Odyssey Strategic Advisory Services and J. Barrett Marum of San Diego Sheppard Mullin will cover legal issues faced by buyers and sellers of distressed businesses or assets during a June 15 breakfast program sponsored by the Association for Corporate Growth San Diego. Registration is at 7 a.m. at the Doubletree Hotel Hazard Center, 7450 Hazard Center Drive, San Diego 92108. The breakfast and program will be from 7:40 to 9 a.m. Cost is free for ACG members, $50 for nonmembers. Make reservations at acteva.com/go/acgsd or acgsd@acgsd.org.
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.
