Daily Business Report-Sept. 11, 2018
35 North in Mission Valley
Mission Valley office campus
sells for nearly $20 million
35 North, a newly-renovated, multi-tenant office campus in Mission Valley, has sold to CIF Group for $19.75 million.
Encompassing 94,701 square feet, the property consists of three low-rise office buildings located at 3530, 3550 and 3570 Camino Del Rio North. The sale also included the campus’ amenities building at 3522 Camino Del Rio North.
The seller was a partnership between San Diego-based Cypress Office Properties and HighBrook Investors based in New York City, which was represented by Cushman & Wakefield.
In 2017 the seller had made extensive capital improvements to modernize the campus, which was originally developed in 1981.
The property was more than 85 percent leased to nearly 30 companies at the time of sale.
35 North sits on 4.27 acres and features newly revitalized building exteriors, interior lobbies and common areas. In the heart of the property design is an open-air courtyard with covered outdoor seating areas, a tranquil water feature, and Southern California landscaping. The separate amenities building also contains racquetball courts and shower and locker facilities.
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California to rely on 100% clean electricity
by 2045 under bill signed by Gov. Brown
San Diego Union-Tribune
All of California’s electricity will come from clean power sources by 2045 under legislation signed by Gov. Jerry Brown on Monday, the latest in a series of ambitious goals set by the state to combat the effects of climate change.
Brown hailed the move as another example of the state’s global leadership on environmental initiatives as the Trump administration backs away from such policies. The bill’s signing comes just days before Brown is set to host a global conference on climate change in San Francisco, a final effort to showcase California’s actions on the environment before he ends his fourth and final term as governor in January.
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NAIOP hosts program on future
of Mission Valley stadium site
NAIOP San Diego, the commercial real estate development association, will host a breakfast event on Oct. 3 about the future of the 200-plus acre stadium site in Mission Valley. The program will feature Nick Stone, project manager of SoccerCity and Gordon Carrier, principal architect of Carrier Johnson + Culture for San Diego State University. A representative from Voice of San Diego will lead the discussion.
Time,location, price: 7:30 to 9 a.m., San Diego Marriot Del Mar, 11966 El Camino Real, San Diego. Advance price by 9/26, members $50, nonmembers $80, $100 at door.
Click here to register and payonline
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Maravai LifeSciences to relocate
and expand technologies operation
Maravai LifeSciences announced plans to relocate and expand its TriLink BioTechnologies operations with the signing of a lease on a new facility in the Sorrento Valley area of San Diego. The new facility will house the company’s current local staff of more than 150 and can accommodate growth to more than 350 R&D, commercial and manufacturing employees. The company’s current Good Manufacturing Practice (cGMP) production capabilities will also be relocated, validated and expanded.
TriLink will be the lead tenant in the 180,000-square-foot building, which is located at 10770 Wateridge Circle. The company will begin its move in the fall of 2019, with completion by the end of the year. Maravai LifeSciences corporate headquarters will also relocate to the new building.
“This new facility and related investments we are making in the business position us well for the continuing growth we foresee,” said Brian Neel, chief operating officer for TriLink. “We can now further scale up our chemistry and biological operations in a state-of-the-art facility and meet the demand for our products in the growing fields of gene editing and DNA/RNA therapeutics and diagnostics.”
Cushman & Wakefield represented Maravai in the lease transaction.
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SDSU continues to rise
in U.S. News rankings
San Diego State University vaulted in U.S. News & World Report’s new rankings of the nation’s best colleges, rising to No. 60 from last year’s No. 68 among public universities, and to No. 127 from No. 140 among national universities overall. SDSU’s place in the 2019 Best Colleges rankings is the university’s highest ever.
On the public universities list, SDSU is up 30 spots from its position in 2012. Among national universities, the new ranking is up from No. 165 in 2012.
U.S. News notes its overall “best colleges” rankings are based on 16 measures of academic quality in categories of outcomes, faculty resources, expert opinion, financial resources, student excellence and alumni giving.
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Cubic receives $55 million
Army order for GATR systems
Cubic Corp.’s Cubic Mission Solutions business division has received orders worth more than $55 million to deliver its inflatable satellite communication and networking systems to the U.S. Army. These orders will satisfy the Army’s upcoming fielding need for 1.2- and 2.4-meter GATR systems, associated spares as well as training and sustainment support.
“Cubic’s GATR satellite communication and networking systems offer the transportability, high-bandwidth capabilities and the ease of setup necessary for Army units to execute their mission,” said Mike Twyman, president of Cubic Mission Solutions.
Cubic’s solution provides robust high-speed links that enable secure network communications, sustainment support and mission command across the full spectrum of operations, from initial entry to sustained operations. The decreased size, weight and power of a GATR 2.4-meter system provides up to four times the performance when compared with similar transit volume and weight antennas.
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First passenger train crosses
new San Elijo Lagoon rail bridge
Just after dawn Monday, the first passenger train crossed the newly-built rail bridge over the San Elijo Lagoon. The modern concrete bridge in Cardiff-by-the-Sea is replacing the 80-year-old wooden trestle bridge, which will be removed over the coming months.
The beams on the new concrete bridge have been decoratively stamped on both the west and east sides in order to pay tribute to the iconic overcrossing in the Encinitas community of Cardiff-by-the-Sea.
The timber bridge was replaced because of its age and to accommodate increases in passenger and freight rail services throughout the Los Angeles-San Diego-San Luis Obispo corridor. The concrete replacement is part of SANDAG’s San Elijo Lagoon Double Track Project that will add nearly 1.5 miles to a larger effort to double track 94 percent of the region’s coastal rail line by 2035. The columns supporting the new bridge will also increase the tidal flow into the lagoon due to their wider spacing.
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Public radio program to honor
San Diego County leaders
The San Diego-based public radio program “A Way with Words” will celebrate the launch of its first national tour by honoring San Diego County leaders who build better understanding through language. “Word by Word” will be held at Parq West from 6 to 8:30 p.m. on Oct. 10.
Honorees include Toni G. Atkins, California Senate President Pro Tem; Barry Edelstein, artistic director of the Old Globe Theater; and Maria Nieto Senour, president of the San Diego Community College District Board of Trustees.
The event will include an entertaining presentation by A Way with Words co-hosts Martha Barnette and Grant Barrett. The two have co-hosted the program, which now airs on NPR affiliates in 36 states, for 11 years. Proceeds from “Word by Word” will benefit Wayword, Inc., the educational nonprofit that produces A Way with Words.
“When you get a chance to honor the thinkers, communicators, and leaders of your age, you leap on it. We’re recognizing those who bridge gaps and mend the world. In our own way, that’s what we try to do with our radio program — we draw connections and increase understanding across generations, eras, and cultures,” Barrett said.
The event is hosted by Friends of A Way with Words, a group of program supporters including: Jack Beresford, Dr. Constance Carroll (co-chair), Joan Houston Hall, Ignacio de la Torre, Margaret Lamb, Ken Lounsbery, Dr. Cindy L. Miles, Betty Peabody, Liz Anne Potamianos, Rana Sampson, and Betty Willis (co-chair).
