Daily Business Report/Jan. 9, 2017
‘The Whitson’ is named after developer William Wesley Whitson. (Photos courtesy of Carrier Johnson + CULTURE)
New Luxury Apartments to Pay Homage
To Principal Developer of Hillcrest Neighborhood
Luxury apartments are coming to Hillcrest.
San Diego-based SENTRE has purchased the 80-room Sommerset Suites Hotel on Washington Street for $19.5 million with plans to convert it back into its original apartment design.
SENTRE will rebrand the property as “The Whitson” (www.thewhitson.com), paying homage to William Wesley Whitson, the 1908 founder of the Hillcrest Company, principal developer of the Hillcrest neighborhood.
“The Whitson will offer an upscale living experience featuring modern amenities with a vintage flair,” according to the Whitson website. “When the transformation is complete in summer 2017, residents will enjoy a
reimagined indoor-outdoor social lounge, hotel-style pool and sun deck, new state-of-the-art onsite fitness center, and luxuriously reappointed unit interiors.”
The purchase isSENTRE’s seventh San Diego multi-family acquisition in the past five years. In 2014, SENTRE acquired the 90-unit The Barcelona in Bankers Hill, which is currently undergoing a renovation of both unit interiors and amenity spaces.
HFF represented both the buyer and seller in the sale transaction. Cannon Constructors and B&G Consultants are leading the construction efforts.
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Navy to Deploy Northrop Grumman-Built
E-2D Advanced Hawkeye Aircraft to Japan
The U.S. Navy will deploy its Northrop Grumman-built E-2D Advanced Hawkeye aircraft to Japan next month as part of the service branch’s rebalance effort in the Asia Pacific, USNI News reported.
The E-2D assigned to Carrier Airborne Early Warning Squadron 125 Tigertails will head to Marine Corps Air Station Iwakuni from Naval Station Norfolk in Virginia as a component of Carrier Air Wing 5.
The squadron is meant to replace the VAW-115 Liberty Bells that will relocate to Point Mugu in California, according to the report.
“The U.S. Navy is also scheduled to begin a phased relocation of CVW-5’s fixed-wing aircraft from Naval Air Facility Atsugi to MCAS Iwakuni,” the military branch said.
The service branch added that the relocation will begin in the second half of 2017.
The E-2D is equipped with a Lockheed Martin-made A/N-APY radar system that works to detect smaller targets and stealth aircraft.
The report said the aircraft set for deployment to Japan previously operated from the USS Theodore Roosevelt aircraft carrier to support the war against the Islamic State organization.
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Leading Social Justice Engineering
Professor Joins University of San Diego
Professor Caroline Baillie, a global leader in engineering and social justice, has joined the University of San Diego as a professor of Praxis (theory and value-driven practice) in the USD Shiley-Marcos School of Engineering with support from the Joan B. Kroc School of Peace Studies.
A materials engineer with expertise in engineering education and critical social studies, Baillie is a Thomson Reuters highly cited author with more than 200 publications, papers and books on material science, engineering education, and engineering and social justice. She co-founded the Engineering, Social Justice and Peace Network (espj.org) in 2004 which will hold its next conference at the University of San Diego in 2018.
Over the last eight years, Baillie has been chair and professor of engineering education at the University of Western Australia, Perth. She has previously held appointments at the University of Sydney, Imperial College in the United Kingdom and Queens University in Canada.
For the Joan B. Kroc School of Peace Studies, Baillie will contribute to the development of courses and initiatives on engineering propelling gender, socio-economic and ethnic equity, as well as poverty alleviation and conflict prevention. “We seek to develop peacebuilders who can create transformational social change through peace-engineering problem solving,” said Patricia Márquez, Dean of the Kroc School.
Baillie conducts both theoretical and educational studies related to engineering and community engagement and in 2006 founded Waste for Life (wasteforlife.org) to enable community groups to develop waste recycling businesses.
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Terra at Mission Trails Apartments
Sold for More than $20 Million
Terra at Mission Trails Apartments at 7707 Mission Gorge Road in San Diego has sold for more than $20 million to local buyer Mission Gorge Rd LP. The seller was PUR VDF Apartments LLC.
Built in 1977, the 90-unit complex underwent a major renovation in 2010 and is situated on 3.44 acres. The property features studios, one-, and two-bedroom units, with an average floorplan of 671 square feet. The community has resort-style amenities, including a pool, hot tub, sauna, resident lounge, BBQ area and a new state of the art fitness center.
CBRE represented the seller.
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S.D. Employers Association
Employment Law Update
San Diego Employers Association Hosts the 37th Annual Employment Law Update Jan. 26 at Crowne Plaza San Diego at Hotel Circle South, Mission Valley. 8 a.m. to noon. The update provides the latest information related to rulings and legislative developments in California. Employers will learn how the latest legislative developments may affect their business and their employees. Presenting attorneys include Christopher Olmsted with Ogletree Deakins, Richard Paul with Paul, Plevin, Sullivan and Connaughton, and Lonny Zilberman with Wilson Turner Kosmo.
Cost: $150 for SDEA members and $175 for nonmembers. To register, visit www.sdeahr.org.
Management Essentials
Certificate Program Begins Jan. 17
San Diego Employers Association’s Management Essentials Certificate Program Begins on Jan. 17. The nine-week program utilizes proven techniques to assist associates in making a positive impact within their company. The course provides the tools and resources needed to ensure success, while outlining the essential skills needed to navigate many of the professional challenges faced in the corporate world today. The course takes place on a weekly basis from Jan. 17 through March 14 from 9 a.m. to noon at the SDEA training center in Kearney Mesa. Cost: $899 for SDEA members and $1,249 for nonmembers. To learn more and to register, visit www.sdeahr.org.
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North Park, University Heights
Apartment Properties Sell for $8.7 Million
Three apartment properties in North Park and University Heights have been sold for $8.7 million to a San Diego-based private investor. The seller was a private family trust.
The three properties total 24,064 square feet and are located at 4366-72 and 4374-80 Mississippi St., 3744 Bancroft St., and 4534-40 30th St.
“This was a generational sale of a family-owned apartment portfolio to an investor who plans to reposition the properties in the market,” said Peter Scepanovic of Colliers International San Diego Region, which represented the buyer in the sale.
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Personnel Announcements
Sheppard Mullin Law Firm
Announces Appointments
Sheppard Mullin announce the appointments of Shannon Z. Petersen as managing partner of the firm’s San Diego (Del Mar) office and Stephen R. LaSala as the co-practice group leader of the firm’s corporate practice group.
Petersen is a member of the Business Trial Practice Group. He is also the co-team leader of the firm’s consumer class action defense team and the firm’s TCPA class action defense team. He has successfully represented clients in claims involving the Telephone Consumer Protection Act, unfair debt collection practices, unfair business practices and other claims. He represents clients in a variety of industries, including financial services, retail, health care, and others.
LaSala is the former managing partner of the San Diego (Del Mar) office and former team leader of the firm’s Mergers & Acquisitions team. He specializes in general corporate law, securities and corporate finance, with an emphasis on mergers and acquisitions and capital raising transactions.
He represents both small and large companies ranging from start-ups to well established public companies in a variety of industries.
