Daily Business Report — June 24, 2010
Conference Focuses on Clean Energy Industry
Clean energy start-up companies are attracting increased interest and investments from venture capital groups that placed nearly $2 billion into environmentally friendly firms and increased the pace with another $773 million during the first quarter. Clean energy business owners and industry professionals will learn more about the increasing investor confidence in renewable energy from Will Coleman, partner at Mohr Davidow Ventures, during his keynote address at the July 29 opening of the EngEx 2010 conference and exhibition at the San Diego Convention Center. Coleman will speak on “CleanTech and Venture Capital Funding.” The conference, which runs through July 31, will offer more than 30 workshops.
Lisa Bicker, president and CEO of CleanTECH San Diego, will open the conference. The nonprofit membership organization’s mission is to accelerate San Diego’s clean technology economy.
More information on the conference is available online at engexpo.com.
Council Action Moves Chargers Stadium Plan Forward
The San Diego City Council approved $500,000 on Tuesday to hire a consultant to study the viability of increasing Downtown redevelopment funds, a step considered vital for the hopes of a Downtown Chargers stadium. The study will help determine whether to increase the spending cap on the Centre City Redevelopment Corp., a group that played key roles in building Horton Plaza and Petco Park. The CCDC takes funds generated Downtown and recycles them into further Downtown development projects. “I believe that Downtown redevelopment has been extremely successful,” said Councilman Kevin Faulconer, who represents the area. “I think the proof of that is to walk around Downtown.”
Proponents support increasing the cap from $2.9 billion to $9 billion for further Downtown development. The latest stadium pitch estimates cost between $700-800 million, $400-500 million expected from public funds. Opponents of the cap increase argue that funds should be diverted into the general fund, not to further Downtown development. “We are concerned that this money is a transfer of our property taxes away from the social safety net into property development and into developer’s coffers,” said Wilbert Miller, pastor of the First Lutheran Church in Downtown.
Mayor Jerry Sanders is among the supporters of the increased cap.
(From San Diego News Network)
Study to Measure Effects of Weight Loss on Breast Cancer Survivors
The School of Medicine at UCSD has received a $5.3 million grant from the National Cancer Institute to lead a four-year clinical trial to show the effects of weight loss and increased physical activity on quality of life and co-existing medical conditions in overweight breast cancer survivors. It will be part of a larger study examining the effect of weight loss on recurrence risk for breast cancer survivors. A study team will be led by Cheryl Rock, professor of family and preventive medicine at the School of Medicine. Team members include respresentatives from five cancer centers, including the Moores UCSD Cancer Center.
“Excess body fat is a major adverse prognostic factor for women with both pre- and postmenopausal breast cancer,” said Rock. “Up to 30 percent of breast cancer survivors experience anxiety or depression that persists after the completion of treatment. We believe weight loss and increased physical activity in overweight breast cancer survivors will have a positive effect on psychosocial problems and co-existing medical conditions, and may possibly reduce the risk of breast cancer recurrence.”
Kevin Tremblay Joins Cassidy Turley BRE Commercial
Kevin Tremblay has joined Cassidy Turley BRE Commercial’s industrial division as a landlord and tenant specialist. Tremblay works out of the company’s UTC headquarters and will focus on institutional property leasing and sales. Previously, Tremblay was an office and industrial specialist for Cushman & Wakefield and worked at ECP Commercial. He holds a bachelor’s degree from University of Arizona’s Eller College of Management.
Diane Machcinski Receives Top Dietetic Association Award
Diane Machcinski, principal of A+ Nutrition, has received the Dolores Nyhus Award for outstanding achievement in the field of dietetics from the California Dietetic Association. Machcinski is a registered dietician and member of the American Dietetic Association. Award nominees must have worked professionally in California for at least 15 years, had a significant impact in the field of nutrition and dietetics, made a significant contribution that improved the standards of dietetic practice, given outstanding service to the professional association, and mentored nutrition professionals or students.
Kathy Scott Named CFO of BioSurplus Inc.
Kathy Scott has been named chief financial officer for BioSurplus Inc., which supplies the life science industry equipment management services and pre-owned laboratory instruments. She reports to CEO Preston “Cinco” Plumb. For the past 15 years, Scott was a partner with RA Capital Advisors, a private investment bank. While there, she managed the acquisition of The Titan Corp. by L-3 Communications and acted as financial adviser to Enron Corp., post-bankruptcy. Scott started her career as an auditor in the San Diego office of Arthur Andersen where she focused on both public and private clients. She graduated magna cum laude from UCLA with a bachelor’s degree in economics/business. Scott is a vice chair on the board of directors of the YMCA of San Diego County.
John Burnham Division Wins Employer of the Year
The John Burnham division of BB&T Insurance Services has been selected as 2010 Employer of the Year by the San Diego chapter of the National Association of Insurance Women. BB&T-John Burnham was selected for the honor based on its dedication to the San Diego community and long-standing support of the organization through its employee membership promotion and involvement, and event support and sponsorship, said Kathleen Kerstenbeck, president of the chapter.
BB&T, Branch Banking & Trust, which is headquartered in Winston-Salem N.C., acquired John Burnham Insurance Services in 2008.
New Website Unveiled by c3 Communications
c3 Communications Inc. is celebrating its 10th anniversary by unveiling a new Website — c3publicrelations.com. It was created by George Glen Parker and coincides with the public relations firm’s Facebook page and blog. “There is not another site out there quite like it,” gushes Joice Truban Curry, president and CEO of the agency. “In addition to the new creative and interactive design and case studies, our new blog contains helpful resources that we hope will be of value to fellow practitioners, clients and the media.” Curry is joined in the agency by Sean Curry, partner and CFO, and Sara Wacker, vice president. The agency represents a number of local and national brands, including Belmont Park/Wave House, Cirque du Soleil, Disney on Ice, East County Family YMCA, Head to Toe Women’s Expo, Islands Restaurants, La Jolla Beach and Tennis Club, Mission Federal Credit Union, Meals-On-Wheels of Greater San Diego, Ringling Bros. and Barnum & Bailey, The San Diego Sunroad Boat Show, YWCA of San Diego County, and the University of Phoenix.
Vista R&D Building Sold for $10.1 Million
A 75,000-square-foot R&D building at 2065 Thibodo Road in Vista — currently leased and occupied by BAE Systems — has been sold to the Harvey Lobelson Trust for $10.1 million. The seller was LBA/Met Partners I-Co. VIII. Tim Hoag of Cushman & Wakefield represented the buyer and seller in the transaction. The buyer purchased the building as part of a 1031 tax deferred exchange, which involved the recently announced sale of a 28,000-square-foot industrial building at 3738 Ruffin Road in Kearny Mesa for $3.2 million. In the transaction, the seller, Ruffin 4 Partners LLC, was represented by Hoag. The buyer, Pete Aardema, was represented by Joshua Volen of Marcus & Millichap.
Qualcomm Buys Property for Added Office Space
Qualcomm Inc. has purchased an 8.9-acre Sorrento Mesa site and a 71,370-square-foot office building on the property with the intention of demolishing the building and constructing additional office space to complement its corporate headquarters across the street on Morehouse Drive. The seller was the Dr. Pepper Snapple Group (DPSG). The sale price was not disclosed. David Crabb and Seth Kelly of CB Richard Ellis represented DPSG in the sale. Qualcomm represented itself.
Crabb and Kelly also represented DPSG in the company’s new warehouse lease. DPSG, doing business as The American Bottling Co., signed a 10-year lease for the former Crest Beverage Co. distribution center, a 73,259- square-foot warehouse building at 7598 Trade St. in the Miramar submarket. Mickey Morera of Cushman & Wakefield represented the lessor, Diversified Properties LLC.
NEW LEASES
Wyle Laboratories and communications manufacturer Harris Corp. have signed new leases at H.G. Fenton’s Mission Valley Heights’ corporate headquarters, R&D and office project at State Route 163 and Friars Road in Mission Valley. Wyle leased 8,641 square feet for 62 months and the Harris Corp. leased 16,603 square feet for 70 months. The leases bring the 576,444-square-foot project to 96 percent occupied. Rob Merkin, Bill Dolan and Scott Kincaid of CB Richard Ellis are the marketing and leasing team for Mission Valley Heights on behalf of property owner H.G. Fenton. Ron Magnaghi of Studley and Nicole Winters of Cushman & Wakefield represented Wyle. Brett Racanelli of UGL Equis represented Harris Corp.
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Jerry Luo Ning, dba Bernardo Massage Center, has leased 1,211 square feet of retail space at 16447 Bernardo Center Drive in San Diego 92128. The five-year lease is valued at $147,038. Joel Wilson of CB Richard Ellis represented both parties in the transaction.
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Big Box Storage Inc. has leased 55,200 square feet of warehouse space at 7077 Consolidated Way in San Diego’s Miramar submarket. The five-year lease is valued at $1,938,695. Brent Wright of CB Richard Ellis represented the lessor, 7077 Associates. Jason Smithson of NAI San Diego represented Big Box Storage. The building is a 157,208-square-foot warehouse project that has been leased mostly by Frazee Paint for the past 10 years. Frazee Paint plans to vacate the space in June, leaving 84,000 square feet available for lease. The project’s other tenant, International Paint, occupies 18,000 square feet.
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The Saywitz Co., a privately held commercial real estate brokerage firm with offices in San Diego and Carlsbad, has completed a three-year, 107,006 square foot lease (with an option to expand to five years) on behalf of Bikebandit.com, an online motorcycle parts store. The lease is valued in excess of $3 million and was secured for the company’s corporate headquarters at 7625 Panasonic Way in the Otay Mesa submarket in San Diego. Jeff Saywitz, senior vice president of Saywitz, represented Bikebandit.com and Mickey Morera of Cushman & Wakefield represented the landlord, The Auerbach Family Trust.
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Four law firms have leased 4,391 square feet of office space at 7801 Mission Center Court in Mission Valley. The firms are Atcherley & McLaughlin, law offices of Phillip Alpert, Law Offices of Stanely Levine and Law Offices of Steve Houbeck. The lease is valued at $450,541. Nick Bonner of CB Richard Ellis represented both the tenant and the lessor, Friars Office Building LLC.
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Island Pacific Systems Inc. has leased 2,064 square feet of office space at 5405 Morehouse Drive in San Diego 92108. The three-year lease is valued at $127,322. Nick Bonner of CB Richard Ellis represented Island Pacific Systems. Chris High of Cushman & Wakefield represented the lessor, JMK Realty LLC.
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