Daily Business Report: Friday, July 2, 2021
Carlos O. Turner Cortez ushers in new era as
chancellor of the San Diego Community College District
Chancellor Carlos O. Turner Cortez on Thursday became chief executive officer of the San Diego Community College District (SDCCD), the district’s first new chancellor in 17 years. He succeeds former Chancellor Constance M. Carroll, who retired June 30.
Including Continuing Education, the district serves 100,000 students annually at San Diego City College, Mesa College, and Miramar College, making it San Diego’s largest institution of higher education.
Having most recently served as president of the San Diego College of Continuing Education (SDCCE), the largest noncredit adult educationinstitution in the nation, Cortez brings both continuity and fresh perspectives to a district that is well established in the region as an engine of economic opportunity and social change.
“Chancellor Carroll has established the SDCCD as national leader in student equity and outcomes. I am committed to working with our student leaders, faculty, classified professionals, and administrators to move the district to the next level of success,” Cortez said.
Cortez will now oversee the region’s largest provider of workforce training and higher education with a $4.1 billion annual economic impact across eight campuses and a district office. He will lean heavily on his experience as a faculty member and administrator as the SDCCD transitions toward normalcy— or what passes for normal — in the wake of the COVID-19 pandemic.
PHOTO: Carlos Turner Cortez pictured at SDCCD’s César E. Chávez Campus in Barrio Logan.
San Diego launches small business support
service to boost economic recovery
The City of San Diego has launched the new Small Business and Restaurant Assistance Program (SBRA) to support the economic recovery of small business and restaurants impacted by the COVID-19 pandemic.
Through the program, qualified local businesses can access support to navigate the city’s planning requirements and permitting process, expediting construction projects and improvements that can give businesses a boost and help grow their operations.
Mayor Todd Gloria’s “Back to Work SD” budget plan, unanimously approved by City Council last month, provides funding to establish the first-of-its-kind program, operated through the City’s Development Services Department.
Many small businesses and restaurants with 25 or fewer employees – including restaurants, retail shops, home offices and businesses, gyms, catering facilities, and hair and nail salons – qualify for the SBRA program. For a complete list of program qualifications and exclusions, visitsandiego.gov/SBRA
To get started, business owners are encouraged to search the city’s Open Counter Business Portal to identify requirements and fee estimates for their project. Then, applicants can schedule a virtual counter appointment to go over their application and make sure that it is complete, and then apply for the building permit.
TruCare’s Michelle D. Gonzalez honored with
North San Diego Business Chamber Leadership Award
The North San Diego Business Chamber has honored Michelle D. Gonzalez, TrueCare’s president and CEO, with its high-profile Leadership Award at its 2021 Celebration of Business.
The Leadership Award honors individuals and businesses who have positively impacted another individual, business, or their community, which recognizes local industry leaders’ great achievements within their companies and in the community.
Just as COVID-19 was spreading relentlessly throughout California, Gonzalez was appointed in April 2020 as president and CEO of TrueCare, a nonprofit health care provider for the underserved in North San Diego and South Riverside Counties.
“Michelle is a dynamic leader who leads with strategy and who consistently demonstrates heart and commitment to TrueCare’s mission. She was unanimously appointed as the president and CEO when a world-wide pandemic was in full swing,” says Carmen Amigon, TrueCare’s Board Chair. “The way that she has successfully led the organization while keeping our staff, patients and communities top of mind through such a tumultuous year, and so early on in her tenure is truly remarkable.”
Local experts issue grave warning about disastrous
effects of climate change on San Diego region
A team of experts have concluded in a new report that the San Diego region is susceptible to a variety of environmental threats because of climate change, including more intense heat waves, sea-level rise, mounting wildfire hazards and severe winter storms.
Authors of the report, “Collaborative Planning for Climate Resilience,” represent the American Planning Association and Scripps Institution of Oceanography.
The report includes an analysis of the planning that is needed to address climate change impacts in the region, and presents a model for coordination among public agencies, research institutions, non-government organizations and other stakeholders.
“This report confirms the severe climate change impacts that this region will experience from extreme heat, wildfires, sea-level rise, and intense weather events. It also discusses the potential for co-occurring, or compounding extreme events, which can place even greater strains on services and systems,” said Scripps Oceanography climate scientist Dan Cayan, the co-director of California-Nevada Climate Applications Program (CNAP).
Independent schools leader named
president of Army and Navy Academy
Mark Desjardins, a veteran educator and leader in independent school operations, has been named the next president of the Army and Navy Academy in Carlsbad.
For the past 11 years, Desjardins, 55, has been Head of School for the 1,400-student St. John’s School in Houston, Texas. He was selected after a seven-month executive search to head the 111-year-old college preparatory military boarding school for middle- and high-school boys.
He will succeed retired Army Maj. Gen. Arthur Bartell who has been the academy’s president since 2014 and who announced his retirement plans last summer.
During his 33-year education career, Desjardins has served as head of school for three independent schools in Oklahoma and Texas including the Texas Military Institute whose alumni includes General of the Army Douglas MacArthur.
Dejardins and his wife, Maro, plan to relocate to Carlsbad mid-summer before he assumes the position in late July.
Florist Dramm Echter Farms acquires
Carlsbad industrial building for $5.05 million
Dramm Echter Farms has paid $5.05 million for a freestanding 23,325-square-foot industrial building located at 1911 Palomar Oaks Way in Carlsbad. Dramm Echter Farms, a grower of high-quality flowers for wholesalers, florists and mass market retailers nationwide, will occupy the building for its business.
Four decades ago, Dramm Echter Farms put their roots in San Diego County as family business with a passion for farming. The company has continued to grow through strategic partners and dedication to serving clients worldwide.
The building features two grade level and one dock-high loading doors, 24 foot to 26-foot clear height, 4,000 amps of power, rooftop solar and fire sprinklers throughout.
JLL’s Chris Baumgart and Steven Field represented the seller, Demand Marketing, in the transaction. Baumgart also represented Dramm Echter Farms.
“Dramm Echter Farms was attracted to this building because of its location to its customer base, access to suppliers, and existing infrastructure for cold storage of floral arrangements,” said Baumgart.
Sycuan Casino Resort unveils giant hand-painted
bingo ball art installation created by local artists
Sycuan Casino Resort unveiled five giant hand-painted bingo balls to commemorate the tribe’s rich bingo history and celebrate the future of gaming with its new partnership with award-winning mobile game developer PLAYSTUDIOS. Each of the one-of-a-kind bingo balls features a custom hand-painted design created by local ArtWalk San Diego artists. The eye-catching art installation will be featured throughout the property at Sycuan for several months.
In 1983, the Sycuan Band of the Kumeyaay Nation opened a one-room Bingo Palace on their tribal reservation, the first bingo parlor in all of Southern California. After the tribe’s massive initial success, they expanded their gaming operation, transforming it into the property it is today, a multimillion-dollar casino and resort destination.
Even decades later, bingo remains one of Sycuan’s most popular casino games.
CI Financial completes acqusition of
San Diego RIA Dowling & Yahnke
CI Financial Corp. announced it has completed its acquisition of Dowling & Yahnke LLC, a San Diego-based wealth manager with $5.1 billion in assets.
The acquisition, which was first announced in May 2021, adds one of the country’s leading registered investment advisors to the CI group and significantly expands CI’s presence in the key California market. It also increases CI’s U.S. assets to more than $65 billion and total assets to approximately $244 billion.
Dowling & Yahnke, founded in 1991, serves over 1,300 clients and provides financial and investment management services to individuals, families and nonprofits. The firm’s accolades include being named to the FT 300 Top Registered Investment Advisors list every year since the list’s inception in 2014. Chief Executive Officer Dale Yahnke was ranked No. 23 on the Barron’s 2020 list of Top 100 Independent Financial Advisors, the 14th time he has made the list, and he was named to the Barron’s Advisor Hall of Fame in 2019.
National University announces results
from Prior Learning Assessment initiative
National University announced results from its Prior Learning Assessment (PLA) initiative, which it claims has saved students a combined $25 million in unnecessary tuition costs over the past three years. The revamped PLA initiative is part of a series of reforms undertaken by National University to dramatically increase access and affordability and accelerate degree completion for working adults, the universary said in a statement.
Kristin Farmer, founder and CEO of ACES,
makes significant donation to UC San Diego
Kristin Farmer, founder and CEO of Autism Comprehensive Educational Services, has made a “significant” gift to the UC San Diego Autism Center for Excellence, the company announced. The funding will support the work and research of Karen Pierce, internationally renowned neuroscience and autism expert and co-director of the center, and her colleagues.
Farmer and Pierce have a long history of collaboration focused on enhancing the quality of life for individuals and families impacted with autism.
Farmer’s gift will support the creation of the ACES Innovation Project to further this mission and focus on advancing research in early autism diagnosis tools and translating tools into clinical settings.
“The areas that Kristin’s gift will support are all critical components of our work at the UC San Diego Autism Center for Excellence,” said Pierce. “They represent initiatives intended to be transformative in our ability to understand and treat autism and, most importantly, maximize the potential of every child with autism.
Stos Partners sells industrial property for $42.2 million
after acquiring it for $18.9 million in 2020
A 113,500-square-food industrial property in San Marcos has been sold to an institutional buyer for $42.2 million by Stos Partners, a privately held commercial real estate investment firm. Stos Partners initially acquired the vacant asset for $18.9 million in April of 2020. It implemented a value-add program and secured a triple-net lease to Stone Brewing, the largest brewery in Southern California.
The property is located at 505 South Pacific Street in San Marcos. Darla Longo, Barbara Perrier, Louay Alsadek and Hunter Rowe with CBRE, and Bob Willingham with Kidder Matthews, represented Stos Partners as the seller in this transaction.
During its ownership, Stos implemented a series of upgrades at the property including a new roof, new paint, mechanical enhancements, fresh landscaping, and other general building improvements.
