Daily Business Report-Feb. 12, 2019
McKinley Thompson-Morley, Erin Huddleston and Nicole Cropper are SDSU’s 2018-2019 Capital Fellows. (Photo: SDSU)
San Diego State graduates working
on public policy in Sacramento
By Lainie Fraser | SDSU NewsCenter
Three San Diego State University alumni are currently working alongside state legislators, senior-level executive staff, and court administrators in Sacramento as part of the Capital Fellows Program.
Administered by the Center for California Studies at California State University Sacramento, the program gives recent graduates opportunities to engage in policymaking and public service as preparation for their future careers. Selected fellows work as full-time staff members in the State Assembly, the State Senate, the Executive Branch or the Judiciary. These students get firsthand experience in the governance and leadership of the state of California.
SDSU’s 2018-2019 Capital Fellows are McKinley Thompson-Morley, Erin Huddleson and Nicole Cropper.
Thompson-Morely majored in political science at SDSU. She graduated with honors and was named the Outstanding Political Science Graduate of 2018. While at SDSU she was a resident adviser, a student in the Weber Honors College and an intern in Gov. Jerry Brown’s Office of Legislative Affairs. She now works in Sen. Steve Glazer’s office as a legislative staffer.
Huddleson, a political science major, is now an Assembly fellow in Assembly member Phillip Chen’s office. She works on potential legislation and meets with constituents and interest groups. Her goal is to help make a difference in California by improving people’s lives through public policy.
Cropper created a successful nail salon in Bankers Hill and then decided it was time to pursue an education at SDSU. She is now an executive fellow in the Department of Health Care Services working with staff who oversee benefits and eligibility. This exposes her to state service and allows for professional development and networking with people from all walks of life.
To be eligible for the Capital Fellows Program, students must have a bachelor’s degree by Sept. 1 of the fellowship year, a GPA of 2.5 or higher and must be 20 or older by Sept. 1 of the fellowship year.
_____________________
Francisco Partners acquires Qualcomm’s Qualcomm Life
Francisco Partners, a technology-focused private equity firm, has acquired Qualcomm Life Inc., a wholly owned subsidiary of Qualcomm Inc. that offers end-to-end medical device connectivity across the continuum of care.
Qualcomm Life will be separated from Qualcomm, be renamed as Capsule Technologies Inc., and continue operating its two distinct business segments: Capsule (a provider of medical device connectivity solutions for hospitals) and 2net (a medical grade mobile connectivity platform).
Capsule is a medical device connectivity platform that connects medical devices to clinical information systems in over 2,000 hospitals in approximately 40 countries. Through Capsule’s connected devices, networking solutions, and intelligent software applications, hospitals can capture and visualize clinical data to monitor patient health and improve patient care.
_____________________
Few live and work Downtown
By Voice of San Diego
In the eyes of urbanists, the mark of a successful downtown is one where homes and offices are located nearby — workers need only walk or hop on a quick transit ride.
But that dynamic is the exception rather than the rule in San Diego.
Lisa Halverstadt of Voice of San Diego reports that less than 4 percent of Downtown workers also lived in the area and 96 percent commuted there for work, according to research commissioned by the Downtown San Diego Partnership. Most Downtown residents commute to neighborhoods like Sorrento Valley, Kearny Mesa or Mission Valley.
That said, Downtown boosters think there’s reason to be optimistic. They’re pointing to the tech industry.
Halverstadt’s story is a part of The People’s Reporter, a feature where the public can submit questions and vote on the questions they want answered.
Access The People’s Reporter here.
_____________________
Several ground-breaking records set
by San Diego life sciences sector in 2018
2018 was a year of great successes for the life sciences sector, posting several ground-breaking records, according to the latest JLL San Diego Life Sciences Real Estate Report. Venture capital funding into the industry during the first three quarters of the year each accounted for more than $5 billion in funding – something that has never been done before. The FDA approved a record number of new drugs – producing 59 new approvals and breaking the previous record of 53 that was set in 1996.
But with an ever-changing economy and world landscape that had
a negative effect on the general markets during the fourth quarter of 2018, the life sciences sector wasn’t immune. As overall markets were crushed during the last quarter of the year, the biotech index also ended the year on a downward slide.
On Aug. 31 the biotech index reached 3,843, the highest level realized since posting a record setting level
of 4,163 in July 2015. However, the index lost approximately 20 percent of its value during the final quarter of the year, posting a year-end value of 3,044. Despite the drop in the fourth quarter, the index has rebounded in January and made up nearly all of the December losses.
The full report is available at: JLL_Q4 2018 San Diego Life Sciences Insight Report.pdf
_____________________
Performance Wealth Investments acquires
Class A office building for $$9.2 million
Palomar Triad, a multi-tenant Class A office building in Carlsbad, has sold for just over $9.2 million. Originally developed in 1987 and extensively renovated in 2013, the three-story property consists of 46,550 square feet of high quality office space. The buyer was San Diego-based Performance Wealth Investments II, LLC, which acquired the asset from 3G Properties LP.
Cushman & Wakefield represented the seller in the transaction. Commercial Asset Advisors represented the buyer.
_____________________
Four office properties at Liberty
Station acquired for $58.9 million
HFF Holliday Fenoglio Fowler L.P. (HFF) announces the $76.8 million sale of and the $58.9 million financing for four Class A office buildings totaling 181,171 square feet within the Liberty Station mixed-use development in San Diego. HFF marketed the property on behalf of the seller, McMillin Companies, and procured the buyer, a partnership of locally based IDS Real Estate Group and Lionstone Investments.
The transaction includes four separate properties located at 2280, 2468 and 2488 Historic Decatur Road and 2750 Womble Road. The buildings were completed between 2003 and 2006 and are 81.1 percent leased overall to a diverse tenant roster comprising legal, professional and financial services, aerospace and defense, hospitality, government and media tenants, among others.
_____________________
Voice of San Diego publishes
2019 Parent’s Guide to Public Schools
Voice of San Diego’s publication of the 2019 edition of A Parent’s Guide to Public Schools is now available. It’s the second year of the publication with new features, stories and data.
The Parent’s Guide is a free, easy-to-use tool for parents and guardians making decisions about educational options for their children. It explains what’s available, provides advice about how to choose a school and how to get involved as a parent, and presents an array of publicly available data on school performance in an easy-to-use format. This year’s edition also features schools that have changed their stories from places parents avoid to places with long waiting lists.
Published in English and Spanish, copies are available through local public libraries, social service organizations, and local preschools. See the Voice website for a full list of distribution partners. It is also available electronically at https://www.voiceofsandiego.org/schools-guide/.
Voice of San Diego, in conjunction with the San Diego Public Library, will be hosting community meetings to explore the guide and answer questions on the following dates:
Tuesday, Feb. 19, 5 – 7 p.m.: Logan Heights Library, 567 S 28th St, San Diego 92113.
Thursday, March 7, 4 – 6 p.m.: Mission Hills Library, 215 W Washington St., San Diego 92103.
Saturday, March 16, 2 – 4 p.m.: Serra Mesa Library, 9005 Aero Dr,ive San Diego 92123.
_____________________
Sempra Energy completes sale of
U.S. natural gas storage assets
Sempra Energy has completed the sale of its non-utility U.S. natural gas storage facilities to an affiliate of ArcLight Capital Partners for $328 million in cash, subject to customary post-closing adjustments. ArcLight’s affiliate Enstor Gas will operate the facilities going forward.
“With the sale of these assets, we can reallocate capital toward growing our core electric and natural gas infrastructure businesses,” said Joseph A. Householder, president and chief operating officer of Sempra Energy. “We are focused on expanding our leadership position in the most attractive markets as we strive to become North America’s premier energy infrastructure company.”
The non-utility natural gas storage assets included in the sale are the Mississippi Hub storage facility in Simpson County, Miss., with a working capacity of 22.3 billion cubic feet (Bcf) of natural gas, and the Bay Gas storage facility in Southwest Alabama, which comprises five underground caverns with a working capacity of 20.4 Bcf of natural gas.
_____________________
Personnel Announcements
John Semel joins Bridgepoint Education
Bridgepoint Education Inc. announced the appointment of John Semel to the position of EVP, chief strategy officer, reporting to CEO Andrew Clark. Semel will lead the execution of the company’s merger and acquisitions strategy, working with business units and corporate functions on industry research and analysis, along with financial evaluation and modeling for merger and acquisition opportunities through the integration process.
Semel has spent more than two decades at the intersection of traditional media, education and technology. He was most recently interim chief strategy officer of Apollo-backed Mood Media, where he drove strategic planning, strategic partnerships, and product development for new revenue sources. Prior to Mood, he was the chief strategy officer of John Wiley and Sons. During his eight years at Wiley, Semel developed and led strategy, helping to build their online education business, Wiley Solutions. Over his career, he has held senior strategy and principal investment roles for MTV Networks, The Hearst Corporation, Everger Investment Associates, and PRIMEDIA. He began his career at JP Morgan and Company as an analyst and then associate in Equity Capital Markets and Syndicate before moving on to High Yield Capital Markets and Syndicate.
