Daily Business Report-July 26, 2017
The NewSchool of Architecture and Design occupies 51 percent of the total office building square footage. (Courtesy of Paragon Real Estate)
Paragon Buys Downtown City Block for $34 Million
Paragon Real Estate Fund LLC has acquired an entire city block in Downtown’s East Village — five office buildings totaling 132,854 square feet — for $34 million.
Art Center Block is a full city block bounded by Park (12th), 13th, F and G streets. The five office buildings range from one to four stories and were built between 1924-1971. The NewSchool of Architecture and Design occupies 51 percent of the total office building square footage. The property also includes the former HangTen clothing manufacture facility. The other office space is 97 percent occupied by several creative office tenants.
“East Village is one of the most vibrant and dynamic communities in San Diego,” said Ricardo Jinich, Paragon co-founder. “Art Block provides much needed creative office space and has great potential as a future development site. This acquisition more than doubles our footprint in Downtown San Diego and reaffirms our long-term commitment to the area.”
CBRE represented the seller, Carleton Management Inc. and The Downtown LLC (Bishop Family).
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SDSU Unveils Alternate Plan
for Qualcomm Stadium Property
San Diego State University unveiled a redevelopment plan Tuesday to buy the city’s Qualcomm Stadium site and turn it into an academic village with housing, research facilities, parks, a hotel and commercial space plus a new Aztec stadium of 35,000 to 40,000 seats. Much like the SoccerCity proposal by La Jolla-based FS Investors, the SDSU plan would result in a “mixed-use development of medium density that is transit oriented.” The $4 billion, privately financed plan by FS proposes 4,800 housing units, 3.1 million square feet of commercial space, two hotels and 56 acres of parkland plus a professional soccer stadium of 22,000 seats. — San Diego Union-Tribune
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National Arts Leader Named Managing
Director of the Old Globe Theatre
Timothy J. Shields, managing director of the McCarter Theatre Center in Princeton, N.J., has been appointed managing director of the Old Globe. He will begin the job in October. A nationally respected arts leader, Shields will work together with Erna Finci Viterbi Artistic Director Barry Edelstein to lead San Diego’s flagship arts institution.
Shields served as McCarter Theatre Center’s managing director from 2009 to 2017. From 1983 to 1992, he was McCarter’s business manager and general manager. His professional experience includes serving as managing director at Milwaukee Repertory Theater for 10 years; as managing director at Geva Theatre Center in Rochester, N.Y., for six; and in administrative positions at Children’s Theatre Company in Minneapolis and Denver Center Theatre Company.
“I feel extraordinarily privileged to join an institution with the stellar reputation that the Globe has, and I relish the opportunity to partner with Artistic Director Barry Edelstein to continue building the Globe’s reputation for artistic excellence and community impact,’ said Shields.
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SDSU Attracted $134.3 Million
In Research Grants Last Year
By Michael Price | SDSU NewsCenter
San Diego State University attracted $134.3 million in research funding in 2016-17, a jump from $130 million the previous fiscal year, the university announced.
Faculty and staff won 783 awards last year — an 11 percent increase over the previous year — providing funding for faculty and student research, department projects and other university initiatives.
“By almost every metric we can look at, the efforts and success of our faculty are obvious,” said Stephen Welter, SDSU’s vice president for research and dean of Graduate Affairs. “Over the past five years, we have had more faculty submitting more grants, resulting in $134 million in total grants awarded. Not only is the personal drive of our faculty demonstrated by these efforts, but their success also reflects the respect of their peers, who serve on the review panels recommending their proposals for awards.”
Among the highest-funded researchers for the previous fiscal year are:
- Professor of Social Work Jennifer Tucker-Tatlow for her work with regional social services departments.
- Epidemiologist Melbourne Hovell for his work exploring the impact of smoking and air pollutants in low-income housing.
- . Biologist Mark Sussman for his research into regenerating heart stem cells
- Professor of European Studies Mary Ann-Lyman-Hager for her work with the Language Acquisition Resource Center.
- Director of SDSU’s Interwork Institute Caren Sax for a variety of programs addressing barriers to employment and increasing self-sufficiency for persons with disabilities.
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Center for Sustainable Energy Gets $2M
Grant to Study Benefits of Solar-Battery Combo
The Center for Sustainable Energy (CSE) in San Diego will assess the capabilities and financial benefits of combining solar energy with battery storage systems to provide electricity in neighborhood communities under a newly awarded $2 million grant from the California Energy Commission.
The project’s goal is to develop a reliable and cost-effective self-contained power system at Niles East Mobile Estates in Bakersfield, Calif., that can be replicated in similar communities statewide to help lower residential energy costs, curb greenhouse gas and air pollution emissions, and support the electrical distribution grid.
The mobile home park is a low-income community with 139 spaces that is in transition to becoming resident owned. Once operational, the proposed energy system will reduce the park’s total electricity costs by about 40 percent with all savings passed to the residents, according to CSE. The current park owner will supply $350,000 to help pay for roughly half of the system hardware and permitting costs.
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ACADIA Pharmaceuticals Ranked 11th on
Forbes’ Most Innovative Growth Companies
San Diego-based ACADIA Pharmaceuticals Inc. has been ranked 11th on Forbes Magazine’s 2017 list of the World’s Most Innovative Growth Companies. ACADIA is a biopharmaceutical company dedicated to developing and delivering innovative medicines to address unmet medical needs in central nervous system disorders.
“We are pleased to be recognized by Forbes as a leader in innovation,” said Steve Davis, ACADIA’s President and Chief Executive Officer. “Being named to this list is a testament to our team’s hard work and commitment to developing transformational medicines that improve the lives of patients suffering from major CNS disorders. Our breakthrough antipsychotic NUPLAZID is the first drug approved by the FDA for patients suffering from Parkinson’s disease psychosis. We are currently studying the drug in five additional disease states including unmet needs in Alzheimer’s disease, schizophrenia and depression.”
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EvoNexus Welcomes New Class of Startups
EvoNexus, the nonprofit Southern California technology incubator and hub, has added 16 companies to its portfolio of promising startups. Among other benefits, the startups will benefit from Class A office and lab space in San Diego and Irvine provided by The Irvine Company.
EvoNexus specializes in helping young companies take their product or prototype to market and then scale up. Typically, the incubator accepts about 1 in 10 applicants. Since its inception in 2009, EvoNexus has helped 179 companies.
San Diego Startups:
Accel Robotics: Accel Robotics has developed a 360-degree visual intelligence that enables robots to see and interact with humans while gathering behavioral data.
CB Therapeutics: CB Therapeutics has developed patent-pending technology for the biosynthesis of cannabinoids and other therapeutic molecules using yeast.
DoWhop: DoWhop is a peer-to-peer marketplace for shared experiences. Discover ongoing opportunities, or sell your own activities: book online, meet up in person.
Elevada: Elevada’s Curator platform provides self-service data preparation tools that collect, clean and transform data from various file types, formats and data sources.
GigaIO Networks: GigaIO enables the data center applications of tomorrow by solving today’s top data center problem: slow interconnect performance.
Go Ghost: Go Ghost is a software company developing innovative new ways to support the Visual Effects, Animation, and Virtual Reality industries.
MiP.O.V.: MiP.O.V. is a social video company that is unlocking the visual potential of social media. MIP.O.V. enables seamless connectivity to mobile, captures only moments worth saving and shares footage to all of your favorite social sites, while tracking your impact from one location.
MG Therapies: MG Therapies’ MGrx device delivers cost-effective relief to the 45 million dry eye syndrome patients in the U.S. and Europe at a quarter of the cost of the market incumbent.
Obsidian: Obsidian has developed a glass microelectromechanical system thermal sensor technology that is vastly cheaper to manufacture than incumbent silicon MEMS-based sensors.
Sourcify: Sourcify connects companies with the world’s top manufacturers from their vetted sourcing pool, providing a suite of tools that helps streamline client-manufacturer relationships.
Tunnel Vision: Tunnel Vision provides virtual reality software, hardware and 360-degree video content to indoor skydiving sites globally, allowing customers to virtually skydive or fly anywhere in the world.
Uprise Energy: Uprise Energy has designed, engineered, built and tested the world’s first and only portable wind turbine. It can be delivered easily to any remote site, set up by one person in one hour, and produce enough electricity in low wind speeds to support 100 villagers.
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Two of San Diego Convention Center’s Young
Leaders to Receive Industry Honors
Two of the San Diego Convention Center’s young professionals are receiving one of the industry’s top honors. Bahiah Odeh-Eppig and Daren Smylie are heading to Nashville on Aug. 7 for VenueConnect 2017
to be recognized as 30 Under 30 honorees by the International Association of Venue Management (IAVM).
Bahiah Odeh-Eppig is a tourism and hospitality management graduate from Temple University and has been at the San Diego Convention Center for four years as a facility services supervisor. She has created a “team” environment among a varied group of personalities. Depending on event activity, she may have up to 50 workers reporting to her.
Smylie graduated from San Diego State University in 2010 and has been in the industry since 2008 when he worked as a house manager for Viejas Arena on campus. He is an event manager. Currently, Smylie serves as chair for a new committee that has the task of streamlining the way employees corporate-wide can access all important documents.
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Personnel Announcements
Pat Emerick Joins Greenhaus
Pat Emerick has joined marketing and advertising agency Greenhaus as creative strategist, working as a creative lead, writer and strategy developer for new clients.
For more than 20 years, Emerick has been one of the most sought-after freelancers in Southern California, brought in on a project basis in by teams looking for a creative visionary to help elevate brands to the next level, said Greenhaus Creative Director Rob Petrie. “His experience with brands like Callaway Golf, TaylorMade Golf, Visit California, La Costa Resort & Spa, TopFlite Golf and countless others was a perfect fit as Greenhaus continues to build upon its successes and grow its roster of destination-based clients.”
Emerick’s addition reunites him with former creative partner Mark Albertazzi, who along with Petrie, Whitbeck and four others on the agency team form a combined 75+ years of experience launching campaigns.
An advertising copywriter by trade and a graduate of the University of Minnesota, Emerick has worked on a contract basis with some of the best-known names in advertising in Southern California as a creative director, brand strategist, production supervisor and more.
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Liz Rhodes Joins launchbox365
Management consulting firm launchbox365 has appointed Liz Rhodes chief commercial officer, to bring her expertise as a senior leader in global management consulting, product development, learning and training and strategic partnerships.
Rhodes will report directly to CEO Dan Negroni and be responsible for global business development, enterprise sales, marketing, product line development, channel partner development and after-sales service activities including research and measurement metrics.
Rhodes was most recently assistant dean of external relations at University of San Diego School of Law, where she oversaw strategic partner development, marketing and communication, alumni relations, special events and website management. She worked for 23 years in senior leadership positions in global management consulting firms.
Rhodes earned her Bachelor of Liberal Arts Degree and a Certificate in Management and Administration at Harvard University.
