Daily Business Report-March 26, 2014
The Torrey Pines area is home to San Diego’s largest concentration of lab space with over 5 million square feet.
Life Sciences Initial Public Offerings
Spur Demand for Local Real Estate
A round of initial public offerings in 2013 is invigorating the real estate market for life sciences companies in San Diego, with tenants currently seeking more than 900,000 square feet of laboratory space, according to a new report by Jones Lang LaSalle.
The international real estate services company said in its Life Sciences Outlook for Winter/Spring 2014 that the past year saw seven local companies go public, and the momentum continued during the first two months of 2014.
The Torrey Pines area is home to San Diego’s largest concentration of lab space with over 5 million square feet.
“Three prominent themes summarized the San Diego Life sciences market in 2013 — anemic leasing activity, sustained M&A activity and the emergence of a robust IPO market,” the report said, underscoring the change as 2014 began.
“Spurred on by growth from San Diego’s new public companies, leasing activity in 2014 has started the year on a strong note,” the report said.
Jones Lang LaSalle’s local office noted that San Diego has more than 600 life sciences companies and over 80 research institutes employing some 42,000 people. This scientific complex uses over 13 million square feet of dedicated lab space.
Of the four major areas for labs — Torrey Pines, UTC/Eastgate, Sorrento Mesa and Sorrento Valley — UTC/Eastgate had the highest percentage of available space, but all four areas were seeing increased demand, the report said. — Times of San Diego report
Affordable Care Act Forum to be Held Saturday
Assembly Majority Leader Toni Atkins, Speaker-elect of the California Assembly, is joining County Supervisor Ron Roberts in hosting a health care forum on Saturday to enroll participants in Covered California health plans and provide information and assistance to those eligible for Medi-Cal and CalFresh.
Set for 10 a.m. to 1 p.m. at the Normal Heights Community Center, 4649 Hawley Blvd., the Affordable Care Act Community Forum & Resource Fair will take place just days before the March 31 deadline for California residents to sign up for coverage through Covered California. The event also is one of the few where staff will be onsite to fully enroll participants.
Along with information about Covered California, Roberts noted that county eligibility workers will be on hand at the forum to answer questions about existing Medi-Cal cases and enrolling in CalFresh, formerly known as food stamps.
“This is a great opportunity to bring multiple services to residents in one convenient, neighborhood location,” said Nick Macchione, director of the county’s Health And Human Services Agency. “We know people have questions about healthcare enrollment and other assistance programs, and we’re looking forward to serving as many as we can at this event.”
For more information, visit 211SanDiego.org.
ResMed Founder to Speak at March 27 Program
Dr. Peter Farrell, founder and executive chairman of ResMed, will be guest speaker at the San Diego Employers Association’s Strategic Leadership Series program on Thursday from 11:15 a.m. to 1 p.m. at Admiral Baker Clubhouse, 2400 Admiral Baker Road, Building 3604, San Diego. Farrell is expected to talk about what he calls the Five Elements of Leadership, among other topics. Farrell founded ResMed, a medical device company, in 1989. It has evolved from a six-person staff to 4,500 employees globally.
Registration costs is $49 for SDEA members and $59 for nonmembers and includes lunch and networking. To register, call (858) 505-0024 or email info@sdea.com.
San Diego Home Prices Show Signs of Moderating
San Diego home prices gained ground in January, but prices are not going up nearly as fast as they did last year. That is one finding in the latest Standard and Poor’s Case-Schiller Home Price index, KPBS reports.
The national 20-market Index is showing signs that 2014’s price run-up may be tapering off. The index slipped for the third straight month, although prices did inch up after adjustment for seasonal influences. Still, prices are up only slightly this year compared with the double-digit increases in 2013.
San Diego’s home prices were up a bit between December and January, but San Diego State University’s Mark Goldman said the local market is starting to find a balance. “Last year this time, I was getting a lot of questions about the potential for another bubble in the real estate market. And we’re not seeing that,” Goldman said. “We’re seeing a very stable market that appears to be in equilibrium.”
Goldman said prices will likely continue to go up in the coming year, but at a more moderate pace. He expects increases in the range of 3 to 4 percent in 2014 compared with increases of 20 percent last year.
San Diego Lifeguard Chief Lays Out Ambitious Plan
San Diego’s lifeguard chief on Tuesday laid out a $5.2 million plan to increase the ranks, purchase new boats and add facilities he says are needed to help keep the city division afloat, the U-T San Diego reports. Chief Rick Wurtz said the plan incorporates lifeguard needs envisioned over the next five years.
It calls for hiring 15 additional lifeguards and support workers and setting aside hundreds of thousands of dollars for vessel replacement. “As we looked to the future of lifeguard service, we thought it was important to look at all the various needs throughout the different type of operations we run and develop a comprehensive look at where we want to see the lifeguard service,” Wurtz told the City Council.
The division is looking to rebound from budget cuts and equipment needs deferred in recent years because of city fiscal constraints.
The plan calls for hiring more lifeguards over the next three years at the Pacific Beach, Windansea Beach, Ocean Beach, South Mission Beach and Mission Bay operations and in the boating safety unit. It also calls for providing at least two lifeguards on rescue boats, some of which now operate with just one.
The proposal calls for converting a parks and recreation carpenter garage at Quivira Basin into a boating safety unit locker room and sleeping quarters.
The council is being asked to set aside more than $1.4 million over the next five years for new vessels. The fleet now includes two fire boats, two patrol boats, seven surf boats and 12 personal watercraft, several of which need to be replaced, Wurtz said.
GovX.com Names New President
GovX.com the online network for military and government personnel, has named Eric McCue as its new president. The entrepreneur and sports operations executive has more than a decade of experience in high-growth operations, sales, marketing and strategic partnerships. McCue previously was an executive at The Active Network Inc. for nearly 14 years and served as senior vice president and general manager of its sports division. McCue earned a bachelor’s degree from Lafayette College. Today, he serves on the board of Triathlon America, and is an entrepreneur-in-residence with San Diego Sports Innovators
The company also announced that Shannon Van Buskirk will be elevated from COO and co-founder to vice chair and co-founder. Also joining the leadership team is Amber Martin, vice president, digital marketing and analytics.
Solatube Appoints Premier Dealer Account Manager
VISTA — Solatube International Inc. has promoted Matt Schlumberger to premier dealer account manager. In his new role, Schlumpberger is part of a team that manages the nationwide network of Solatube Premier Dealers, which are responsible for the sales and installation of residential products in specific territories.
Schlumpberger also is running the University of Solatube, a three-day training program for new and existing dealers. The program teaches the Solatube Premier Dealer business model, including business development, marketing strategy and execution, and sales and installation best practices.
Schlumberger is the former store manager of the largest Solatube Premier Dealer in Southern California, Solatube Home Daylight. He previously was a technical support manager for Green Hills Software in Santa Barbara for five years, where he managed a team of software engineers. He received a bachelor’s degree from the University of Missouri, Columbia, and a master’s degree from the University of Phoenix.
