Daily Business Report-Jan. 31, 2017
Bold Brew Coffee plans to sell their products on campus every Friday in East Commons beginning Feb. 3. (Credit: Bold Brew Coffee)
Aztec Made: Bold Brew Coffee
SDSU students launch a new cold brew coffee
aimed at active sports enthusiasts
By Gina Jacobs | SDSU NewsCenter
When you meet mechanical engineering students Jack Doheny and Jake Solomon, you’ll first notice their off-the-chart energy and think, “I’ll have what they’re having.” Only in this case, that is actually possible. Doheny and Solomon are the founders of Bold Brew Coffee, a cold brew coffee brand marketed exclusively to action sports athletes and enthusiasts as a natural alternative to energy drinks.
Doheny and Solomon have been working with SDSU’s Zahn Innovation Platform (ZIP) Launchpad to refine their business and test their product. They roast and brew their product locally, something they had to learn when first starting out.
Brewing is now done at a local commercial kitchen space that rents to startup food and beverage companies looking to test recipes and make large batches of product.
“We have both always loved coffee, but we had to learn to brew to start the company,” said Doheny. “We used as many resources and sought out as much mentorship about brewing as we could.”
Their tagline “Be Bold” speaks directly to skaters, surfers and snowboarders who love to “get their adrenaline pumping” but prefer to do without the chemicals and artificial flavors common in store-bought energy drinks.
Doheny and Solomon frequently head out to skate parks and popular surf spots for market research and say they’ve received great feedback from their potential customers.
The pair recently placed third in the Zahn Challenge, SDSU’s annual business pitch competition for ZIP Launchpad teams.
“The Zahn Challenge experience was incredibly unique and special because we had the opportunity to pitch to successful entrepreneurs just like we would for capital investment,” said Doheny. “It primes us to think in terms of value proposition not only for our end-consumer but also for our high-level investor, which is crucial.”
Doheny said the cash prize offered to winners of the Zahn Challenge is going toward more brewing equipment, web development and business licenses.
Next up for Bold Brew: local distribution.
Bold Brew plans to sell their product on campus every Friday in East Commons beginning Feb. 3, thanks to an agreement with Aztec Shops.
You can learn more about the company at boldbrew.com.
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Murphy Development Reaquires
Property Originally Built for Sanyo
In a serendipitous move, Murphy Development Company (MDC) has purchased the 542,197-square-foot, two-building campus at the San Diego Business Park on Otay Mesa from Panasonic Corporation of North America. It’s the same property that MDC built for Sanyo in 1986, which was acquired by Panasonic in 2010.
Besides the $28 million purchase price, MDC plans to invest $15 million in upgrades.
The property, which will be rechristened The Campus at San Diego Business Park, is located at 2001 and 2055 Sanyo Ave. Panasonic will lease 70 percent of the 329,000-square-foot 2001 Sanyo Ave. building after MDC completes 42,000 square feet of new office improvements.
The remaining 94,000 square feet of Class A industrial space in the 2001 Building and 209,700 square-feet in the 2055 Building will be marketed for lease. The campus also includes a seven-acre fully entitled parcel of land, which MDC plans to develop into either a 150,000- square-foot freestanding building or to expand the 2055 Building into a 350,000-square-foot building. “The Sanyo building and the 1.3 million square foot San Diego Business Park was Murphy Development’s first Otay Mesa project and heralded the birth of a new San Diego industrial era. Now some 30 years later, Otay is San Diego’s most dynamic industrial growth area,” said Kaitlin M. Arduino, executive vice president of MDC.
MDC’s $15 million investment in upgrades at The Campus includes completely new landscaping, replacing all office glazing with energy efficient glass, modernizing the office areas, updating the solar panel system, and adding dock and grade doors. Murphy will also add a café, a physical fitness facility, and outdoor amenities including break areas.
Lusardi Construction Company will complete the improvements, which will be designed by Pacific Cornerstone Architects. Ridge Landscape Architects will design the new drought- tolerant landscaping.
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City Council Takes Up Rules
For Recreational Marijuana Today
Proposed rules for establishments that plan to deal in recreational marijuana in San Diego are scheduled to be taken up by the City Council for the first time Tuesday. City News Service
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Stos Partners Acquires Escondido and Oceanside Properties
Stos Partners, a privately held commercial real estate investment and management firm, has acquired a two-tenant industrial building in Escondido, and a two-tenant retail property in downtown Oceanside.
“The San Diego commercial real estate market continues to tighten and there is tremendous investor interest in both of these submarkets,” says CJ Stos, Principal of Stos Partners. “Each of these transactions demonstrates our overarching investment strategy, which is to acquire quality product in irreplaceable locations, then hold those assets for the long term in order to generate strong cash flow and returns over time.”
Stos Partners acquired a 20,000 square-foot industrial property located at 2250 Micro in Escondido for $124 per-square-foot from a private group of investors. The building was 50-percent leased to an electrical contracting company. During escrow, Stos Partners was able to secure a long-term lease with a Fortune 500 company.
Stos Partners acquired a two-tenant retail property on Mission Avenue in Oceanside for $1.37 million from a private owner. Stos Partners will market the property as retail and/or office space, and anticipates high demand from potential tenants. The property is located at 610-612 Mission Ave.
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New Study Shows Early Brain
Changes in Fragile X Syndrome
A new study led by scientists at The Scripps Research Institute is giving researchers a first look at the early stages of brain development in patients with Fragile X syndrome, a disorder that causes mild to severe intellectual disability and is the most common genetic cause of autism spectrum disorder.
“We’re the first to see that these changes happen very early in brain development,” said TSRI Professor Jeanne Loring, who led the study, published this week in the journal Brain. “This may be the only way we’ll be able to identify possible drug treatments to minimize the effects of the disorder.”
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Peace Corps and USD Announce New
Paul D. Coverdell Fellows Program
The Peace Corps and the University of San Diego announced the launch of a new Paul D. Coverdell Fellows program housed in the Joan B. Kroc School of Peace Studies. The program offers scholarships to returned Peace Corps volunteers pursuing a Master of Arts degree in peace and justice. All program Fellows will complete internships in underserved American communities while they pursue their studies, allowing them to bring home and expand upon the skills they learned as volunteers.
Returned Peace Corps volunteers selected as Coverdell Fellows for the Kroc School program will receive credit for their Peace Corps service and a 50 percent tuition discount.
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Anthony’s Fish Grotto Closing
For Good on the Waterfront
After more than 70 years of serving chowder and fish & chips to locals and tourists who enjoyed expansive views of San Diego Bay, Anthony’s Fish Grotto on the downtown waterfront is scheduled to close for good tonight.
The Port of San Diego, as part of an effort to remake the Embarcadero, chose to not renew the restaurant’s lease, which expires Tuesday.
Catherine “Mama” Ghio opened the original Anthony’s as a 16-seat diner at the old downtown ferry landing in 1946. The restaurant moved to its current location on North Harbor Drive in 1965.
“Mama” Ghio’s clam chowder, considered a house specialty, was being sold for $2.50 to observe the eatery’s final days.
The La Mesa location on Murray Drive near Severin Drive will continue operating.
As for the waterfront site, the port’s Board of Commissioners awarded the lease to The Brigantine Inc., which plans to invest around $13 million to renovate the property and open four eateries — a Brigantine restaurant; a Miguel’s Cocina, a Mexican food chain also owned by Brigantine; Ketch Grill & Taps, a casual walk-up, dine-in and take-out grill that offers local craft beers and spirits; and Portside Gelato & Coffee, to feature coffee and espresso from San Diego roaster Cafe Moto.
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Cubic’s David Buss Inducted Into
Most Influential Executives List
David Buss, senior vice president and president of Cubic Global Defense, has been inducted into the 2017 Wash 100 list of most influential executives in the government contracting industry by Executive Mosaic, a leadership organization and media company.
Busss joined Cubic as senior vice president and deputy president in June 2015 and was promoted to his current role of president in May 2016, following more than 36 years of service in the U.S. Navy. He retired from the Navy in the rank of vice admiral after serving for more than two years as commander of Naval Air Forces.
Buss’ induction to this year’s Wash100 is the third consecutive recognition a Cubic executive has received since 2015.
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San Diego’s Population Density
Population density may sound like the most mundane of metrics, a column heading in a city planner’s spreadsheet, but in cities across the U.S. it’s been a source of cultural controversy, guiding where people move and why.
In order to put San Diego’s density in perspective, SpareFoot put together a series of visualizations showing how large San Diego would be if it were as dense as other cities. Click here
