Daily Business Report-Nov. 8, 2018
Irvine Company acquisition One Del Mar is is located at 12544 High Bluff Drive. (Credit: Irvine Company)
Irvine Company adds One Del Mar
to its growing commercial office
holdings in city of San Diego
The Irvine Company, adding to its image as San Diego’s biggest commercial office property landlord, announced that it has acquired One Del Mar, a 120,000-square-foot Class A office property in Del Mar Heights. The sales price was not disclosed.
The private Newport Beach-based company, wholly owned by Donald Bren, arguably the most wealthy real estate developer in the U.S., has added more than 1 million square feet to its San Diego office portfolio. In January, it purchased Gateway at Torrey Hills. In September 2017, the company acquired nearby Township 14.
“Irvine Company is proud to expand its presence in San Diego, a nationally-recognized hub of innovation,” said Doug Holte, president of Irvine Company Office Properties. “We continue to seek strategic growth opportunities in the region.”
Built in 2001 and renovated in 2018, the four-story One Del Mar features several modern onsite amenities, including a state-of-the-art indoor fitness center with showers and day-use lockers, two outdoor patios, recently enhanced lounge areas with coffee service, an open-air terrace and drought-tolerant landscaping. Irvine Company plans to reinvest and refine the indoor-outdoor workspaces. One Del Mar’s tenant roster includes law firm Procopio, financial services firm Stifel Nicolaus & Company and health care, life science and technology company Quidel.
The acquisition follows several other high-profile San Diego investments by the company in the past 14 months. Last month, Irvine Company announced the additions of Paseo Del Mar in Dell Mar Heights and La Jolla Reserve in La Jolla UTC to its portfolio.
One Del Mar is located at 12544 High Bluff Drive.
Jll represented the seller of One Del Mar.
Overall, Irvine Company owns 9 million square feet of San Diego office workplace communities in Downtown, Del Mar Heights, La Jolla UTC, Mission Valley, and Sorrento Mesa.
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NASA pushes exploration
of oceans in solar system
NASA has navigated the solar system with spacecraft and landers, but still, our celestial neighbors remain vast frontiers, particularly in the search for life. Now, an alliance of researchers including scientists at Scripps Institution of Oceanography will accelerate the quest to find it.
The NASA Astrobiology Program has announced the establishment of the Network for Life Detection, N-FoLD, which connects researchers to pursue the detection of life and clues thereof on our neighboring planets and their moons. N-FoLD includes an oceanic research alliance led by the Georgia Institute of Technology.
The alliance is called Oceans Across Space and Time (OAST) and has received a $7 million NASA Astrobiology grant with the long-range goal of extracting secrets from present and past oceans on Mars, Jupiter’s icy moon Europa, and Saturn’s moon Enceladus. But OAST will also ramp up the study of the conditions that spawned first life in Earth’s oceans.
“With OAST, we finally hit the perfect mix of people, science questions, and supporting activities to really go after some of the most important unknowns in astrobiology,” said Britney Schmidt, OAST’s principal investigator and an assistant professor in Georgia Tech’s School of Earth and Atmospheric Sciences.
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Former San Diego dentist and insurance
agent sentenced to 4 years in prison
Robert Frank Mansueto, 66, former dentist and insurance agent was sentenced to four years and eight months in local prison with two years of mandatory supervision and ordered to pay $650,000 in restitution after pleading guilty to multiple felony counts of unlicensed dentistry, grand theft, identity theft and securities fraud as part of a global settlement of three criminal complaints filed by the San Diego District Attorney’s Office.
An investigation by the California Department of Insurance revealed that Mansueto, illegally acting as a licensed investment adviser, convinced his senior victims to invest a total of $400,000 in his dental implant manufacturing company with a promise that their money would be used to create inventory and expand his business into Mexico. The investigation revealed that Mansueto used the funds for his personal use.
In a separate matter, investigators from the San Diego District Attorney’s Office discovered that Mansueto altered and deposited stolen checks totaling over $640,000 into his bank account for personal use.
In 2005, Mansueto’s license to practice dentistry in California was revoked for incompetence, gross negligence, and excessive treatment. Even though he had no license, Mansueto continued treating patients.
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Shape-shifting ribosomes “tune”
the cellular response to stress
When ribosomes malfunction, disease is not far behind
Ribosomes help your cells build proteins, based on the instructions provided in genes. So, when ribosomes malfunction, disease is not far behind.
To better understand how cells respond to stressors, scientists at Scripps Research are looking to a new yeast model that reveals how human ribosomes may function in both healthy and diseased states.
The scientists recently discovered that cells can manage stress through a process they dub “ribo-tuning.” This means cells reprogram themselves by evolving their genes to bind to specialized ribosomes, which are produced under stress conditions. The study, which has implications for better understanding the role of ribosomes in cancer, was published recently in Cell Chemical Biology.
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Kratos wraps up third phase
of USAF deployment study
Kratos Defense and Security Solutions in San Diego has finished the third stage of a four-phase study that seeks to move a command-and-control ground system for military satellite communications to the U.S. Air Force’s Enterprise Ground Services architecture.
The company said EGS is a service-based ground architecture built to help Air Force Space Command protect assets and counter emerging threats in space.
Kratos demonstrated the milsatcom EGS deployment and associated ground system capabilities in less than 10 minutes through the use of virtualized applications and dynamic resource allocation under the study’s third phase that concluded on July 12.
The 27-month pathfinder study focuses on the migration to EGS of the Command and Control System-Consolidated ground system that runs a fleet of more than 20 milsatcom satellites across four various constellations.
Kratos announced the completion of the EGS deployment study’s second phase in August and expects to conclude the final phase in December.
