Daily Business Report-April 11, 2019
Rendering of the exterior of the former Nordstrom building, part of the proposed The Campus at Horton in Downtown San Diego. (Renderings courtesy of Stockdale Capital Partners)
Stockdale Capital Partners reveals new
images of the proposed Campus at Horton
planned for Downtown San Diego
Stockdale Capital Partners has provided a new look into its planned The Campus at Horton in Downtown San Diego, showing a mixed-use high-tech office, lifestyle retail and food & beverage spaces. Newly-released visuals highlight workspaces that will house 3,000-4,000 new innovation economy jobs created by the redevelopment and contribute to the $1.8 billion dollars in annual economic activity generated in just the first phase of the redevelopment.
The images show a first look at the contemplated transformation of the former Nordstrom building, which includes adding an additional 150,000 square feet of space to the existing building and creating a new contemporary-designed exterior. Inside, the building will feature light-filled workspaces that take advantage of Southern California’s indoor/outdoor lifestyle and maximize expansive views of Downtown and San Diego Bay.
The Campus at Horton will be considered by the city of San Diego’s Economic Development and Intergovernmental Relations committee today, with eventual City Council consideration in the coming weeks. Stockdale Capital Partners aims to begin construction later this year, with plans to complete The Campus at Horton in 2020.
Newly released images also show an Amenity Deck that will take the place of the current and vacant food court. The Campus at Horton will feature several food and beverage experiences, curated greenscaped outdoor areas and health and wellness concepts that will cater to community members and future onsite employees.
“The Campus at Horton is exactly what we hear some high-tech companies are seeking in San Diego,” said Mark Cafferty, president and CEO of the San Diego Regional Economic Development Corporation. “The existing open floor plans and expansive square footage of the current Horton Plaza are perfectly suited to the design and layout of modern office spaces.”
“We’re pleased to share more about the exciting future that The Campus at Horton will create in the heart of downtown San Diego,” said Dan Michaels, Managing Director of Stockdale Capital Partners.
“This transformative project will bring new life to the current site, fuel San Diego’s long-term economic growth and increase safety and security on the property,” said Dan Michaels, managing director of Stockdale Capital Partners.
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Home sales spring forward in March
Single-family home sales more than 28 percent higher than February
Home sales in San Diego County improved in March after a slow start to 2019, according to housing statistics compiled through the San Diego Multiple Listing Service by the Greater San Diego Association of Realtors.
Single-family (detached) home sales in March were more than 28 percent higher than February, and attached properties (condominiums and townhomes) were nearly 21 percent higher. Year over year, however, sales of existing homes are down by 7 percent for single-family homes and 15 percent for condos and townhomes.
The median price of homes remained level in March and has not changed significantly over the past year. Single-family home prices have hovered around $630,000, while attached properties saw a median price of $420,000 last month. The supply of homes on the market increased by nearly 10 percent for single-family properties compared to March of last year, while the supply of attached homes for sale jumped by 31 percent.
“The March sales figures indicate to me that buyer demand remains strong,” said SDAR President Kevin M. Burke. “Serious buyers should be encouraged by a strong increase in the supply of homes on the market compared to a year ago.”
In March, the ZIP codes in San Diego County with the most single-family home sales were:
92078 (San Marcos South) with 55
92071 (Santee) with 47
92065 (Ramona) and 92128 (Rancho Bernardo East), both with 46
91977 (Spring Valley) with 44
92026 (Escondido North) with 43
The most expensive single-family property sold in March in San Diego County is a Cape Cod-style oceanfront estate in the Del Mar Beach Colony, built in 2004, with 3,500 square feet, 5 bedrooms, 4 bathrooms, and a sale price of $16 million.
SDAR’s housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:
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Pesticide Cocktail Can Harm Honey Bees
Combined with common fungicide, ‘bee safe’ Sivanto leads to abnormal behavior and lower survival
A recently approved pesticide growing in popularity around the world was developed as a “bee safe” product, designed to kill a broad spectrum of insect pests but not harm pollinators.
A series of tests conducted over several years by scientists at the University of California San Diego focused on better investigating the effects of this chemical. They have shown for the first time that Sivanto, developed by Bayer CropScience AG and first registered for commercial use in 2014, could in fact pose a range of threats to honey bees depending on seasonality, bee age and use in combination with common chemicals such as fungicides.
The study, led by former UC San Diego postdoctoral fellow Simone Tosi, now at ANSES, University Paris Est, and Biological Sciences Professor James Nieh, is published April 10 in Proceedings of the Royal Society B.
Pesticides are a leading health threat to bees. After years of growing concerns about systemic toxic pesticides such as neonicotinoids and their harm on pollinators, Sivanto was developed as a next-generation product.
Sivanto’s “bee safe” classification allows it to be used on blooming crops with actively foraging bees. Currently, pesticides are approved for widespread use with only limited testing. Perhaps most importantly, the interactions between new pesticides and other common chemicals such as fungicides are not fully tested. Sivanto’s product label does prohibit the pesticide from being mixed in an application tank with certain fungicides. However, bees can still be exposed to Sivanto and other chemicals (pesticide “cocktails”) that are commonly used in adjacent crops or that persist over time.
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Personnel Announcements
David Wax elected chairman
of NETWORK Services Company
David Wax, executive vice president of WAXIE Sanitary Supply, has been elected by the board of directors as the chairman of NETWORK Services Company for a two-year term.
Wax has held numerous positions within NETWORK over the past 25 years, including vice chairman, and has been active in various committees. Wax will lead the NETWORK Board of Directors and the NETWORK membership, aligning with strategic suppliers and key customers globally.
Wax started his full-time career with WAXIE in 1977, progressing in roles through customer service, purchasing, sales, and sales management. When WAXIE acquired a Salt Lake City distributor of sanitary maintenance supplies in 1984, Wax relocated to Utah to serve as general manager. In 1988, he accepted the role of division manager for the company’s Los Angeles operations. He moved back to San Diego in 1994 to oversee marketing and then later took on the leadership role for the company’s corporate accounts initiative. In 2012, Wax became the executive vice president of WAXIE’s California branches.
