Daily Business Report: Tuesday, Aug. 16, 2022
More evidence that California
weather is trending toward extremes
Patterns associated with wildfires increasing in frequency
By Robert Monroe
A team led by Kristen Guirguis, a climate researcher at Scripps Institution of Oceanography at UC San Diego, found evidence that the risk of hazardous weather is increasing in the Southwest.
The researchers investigated the daily relationships among four major modes of weather affecting California. How they interact governs the formation of weather events such as atmospheric rivers capable of bringing torrential rains and Santa Ana winds that can spread devastating wildfires.
“This study suggests that weather patterns are changing in a way that enhances hot, dry Santa Ana winds, while reducing precipitation frequency in the Southwest,” said Guirguis. “These changes in atmospheric circulation are raising the risk of wildfires during California winters.”
The study, “Winter wet—dry weather patterns driving atmospheric rivers and Santa Ana winds provide evidence for increasing wildfire hazard in California,” was published in the journal Climate Dynamics July 17, 2022.
Top Photo: Chaparral Fire in 2021. (Photo credit: JeffHall / Cal Fire)
Harbor Associates completes lease-up on
Bungalows Del Mar Office in Del Mar
Harbor Associates LLC has completed the lease up on the Bungalows Del Mar Office despite the pandemic and work from home trends that have slowed traditional office leasing. The Bungalows Del Mar Office is a 39,537-square-foot trend setting low-rise office building in Del Mar. Harbor vacated the building and recently completed a major $4 renovation.
Harbor, in joint venture with the Bascom Group LLC, acquired the Del Mar office property located at 2010 Jimmy Durante Boulevard with the plan of repositioning the asset to appeal to a broader tenant base.
Improvements included a complete exterior redesign, new creative office spec suites with exposed vaulted ceilings, skylights, and operable windows. To leverage the building’s location less than one mile from the beach and the Village of Del Mar, Harbor upgraded the expansive outdoor space and patio areas to create “outdoor meeting rooms” and installed a locker room with showers, and electric car chargers.
Harbor retained innovative interior designers like Tamara Romeo of San Diego Office Design who has designed several of the tenants’ spaces at the property.
Palomar Health to build $100 million
mental health hospital in Escondido
By Ray Huard
Palomar Health is planning to build a $100 million mental health hospital in Escondido.
The 90,000-square-foot Palomar Behavioral Health Institute is a joint venture between Palomar Health and Kindred Behavioral Health, a unit of LifePoint Health.
We expect to break ground within 12 months and welcome our first behavioral health patients in 2024,” said Cleve Haralson, LifePoint senior vice president of joint venture and strategic services.
Palomar will oversee construction of the project and LifePoint will be in charge of providing the institute’s services.
Grand opening of TrueCare & Lennar
Foundation Health Center at Casa de Amparo
Casa de Amparo, a leader in treating and preventing child abuse and neglect in San Diego County, in partnership with TrueCare, a nonprofit community health center, and Lennar, one of the nation’s leading homebuilders, announced the grand opening of the TrueCare & Lennar Foundation Health Center at Casa de Amparo in San Marcos. Situated on the site of Casa de Amparo’s Casa Kids campus, the 600-square-foot health center serves the resident girls ages 12 to 18 years old and their children who have been traumatized by severe child abuse or neglect.
The TrueCare & Lennar Health Center at Casa de Amparo will include a medical exam room, a mini lab and an office space. TrueCare’s professional medical staff will be on site to bring compassionate, sensitive care that addresses the unique needs of the Casa de Amparo residents, including women’s health and pediatric services. The clinic is partially funded through a generous grant from Rest Haven Children’s Health Fund.
American Cancer Society CEO to guest
at Illumina Genomics Forum Oc. 1
Illumina Inc., a global leader in DNA sequencing and array-based technologies, announced that it will feature Dr. Karen Knudsen, CEO of the American Cancer Society, at its inaugural Illumina Genomics Forum (IGF) on Oct. 1. Knudsen will participate in an on-stage conversation with Dr. Phil Febbo, Illuminas chief medical officer, about the landscape of cancer treatment and research, including what is currently being done to support the prevention, detection, and treatment of cancer.
During the discussion, Knudsen will share her experience with the rapidly growing and groundbreaking use of clinical genomics in oncology, including what gaps still need to be addressed. She will also share her thoughts on the critical role of the public and private sector in advocating for the use of clinical genomics in oncology.
For more information and to register for the conference, go to illuminagenomicsforum.com.
Jacobs Center’s Business Accelerator
Program celebrates its sixth cohort
Jacobs Center for Neighborhood Innovation‘s business accelerator program exclusively for low-to-moderate income entrepreneurs invites the San Diegocommunity to participate in its 6th Union Bank Start-Up Pitch Competition.
A strategic partnership between the City of San Diego, CONNECT w/ San Diego Venture Group, and the Jacobs Center, the business accelerator was launched in May 2019 and has since jumpstarted 62 local businesses. The free four-month structured program is geared specifically toward San Diego-based, early-stage startups that are ready for sustainable growth.
Viewers can participate in the pitch competition by liking their favorite video for the Audience Choice Award between Aug. 22 and 29. Watch the pitches: bit.ly/JCNIpitch6.
Bonita native at work aboard
hospital ship USNS Mercy
PUERTO PRINCESA, Philippines – Cmdr. Sara Gonzalez, from Bonita, checks a monitor during a cleft palate repair surgery aboard Military Sealift Command hospital ship USNS Mercy in support of Pacific Partnership 2022. Now in its 17th year, Pacific Partnership is the largest annual multinational humanitarian assistance and disaster relief preparedness mission conducted in the Indo-Pacific. (U.S. Navy photo by Mass Communication Specialist 2nd Class Brandie Nuzzi)
INTERNATIONAL TRAVEL
North San Diego Business Chamber has announced its International travel plans for 2022 – 2023. These international trips are open to anyone 18 and over.
The destinations of travel for 2023 include Vietnam, Feb. 18-27, 2023, and a trip to Greece, April 15-23, 2023. For more details and information on all trips visit https://sdbusinesschamber.com/travel/
The Vietnam adventure will take place from Feb. 18-27, 2023. The $2399 offers an inclusive package that includes 10 days/8 nights. North San Diego Business Chamber President, Debra Rosen experienced the Vietnam trip in February of 2019 and said, “it was the experience of a lifetime, probably the second favorite trip of the many we have taken.”
Vietnam Tour Price $2,399 Includes:
• Roundtrip International Airfare & Tax from LAX
• Vietnamese Domestic Airfare & Tax
• 4- and 5-Star Hotel Accommodations
• Daily 3 Meals
• Deluxe Bus Tours
• Fluent English-speaking Tour Guides
Entrance Fees to Attractions
Not Included: Visa Fee, Gratuities, Personal Shopping
Destination Highlights can be found at https://sdbusinesschamber.com/travel/
The Greece adventure will take place April 15-23, 2023. The $3,399 offers an inclusive package that includes 9 days/7 nights.
Greece price from $3,399 Includes:
• Roundtrip International Airfare & Tax from LAX
• 4-Star Hotel Accommodations
• Daily breakfast and lunch
• Deluxe Bus Tours
Fluent English-speaking Tour Guides
• Entrance Fees to Attractions
Not Included: Gratuities, Personal Shopping, Dinners
Destination Highlights can be found at https://sdbusinesschamber.com/travel/
Former global fund manager joins
Leucadia Therapeutics as first CFO
Leucadia Therapeutics, a company working to cure Alzheimer’s disease with a medical device implanted by minimally invasive surgery, has hired a chief financial officer with deep investment management experience to ensure the company has the resources it needs as it anticipates clinical trials.
Newly named CFO Edward (Ned) Shadek Jr. has spent more than 35 years as a manager and strategist guiding investment decisions at both large international and boutique funds. In these roles he assessed the value of hundreds of start-ups and identified resources needed to fuel their success.
A Harvard MBA, Shadek spent 17 years at Putnam Investments, which has over $183 billion in assets under management. At Putnam, he spent six years as senior managing director and deputy head of investments and six years as chief investment officer of small/mid cap equities.
Gordon Ramsay Hell’s Kitchen opens
at Harrah’s Resort Southern California
Gordon Ramsay Hell’s Kitchen — the iconic eatery created by celebrated multi-Michelin-starred chef and television personality Gordon Ramsay — has opened its doors at Harrah’s Resort Southern California. Inspired by the FOX culinary competition series of the same name, the new restaurant raises the bar among San Diego’s growing culinary scene that celebrates exceptional and exhilarating dining experiences.
As the first location in California and largest outpost to date, this Gordon Ramsay Hell’s Kitchen occupies an 11,360-square-foot space and can accommodate up to 332 guests. Diners can expect an experience in tune with the legendary concept where the restaurant’s design and menu are emblazoned with the iconic red and blue flames, including the waitstaff, while the space will feature an elegant bar, full-service restaurant, exhibition kitchen, plush lounge, curated wine wall, two private dining rooms and two chef’s tables.
MG Properties acquires two Sacramento communities
MG Properties Group, a private San Diego-based real estate investor and operator, is further expanding its Sacramento presence with the acquisition of Eleanor and H16 Midtown Apartments. The two newly combined communities are located along the 16th street corridor in the Midtown submarket of Sacramento.
The sellers, The Grupe Company, SKK Developments, and Guardian Capital, were represented by Marc Ross and Hasina Ahmadi of CBRE. Financing for the transaction was led by CBRE Capital Markets’ Andrew Behrens, Jesse Weber, and Stephen Baird.
National Resilience in collaboration with Mayo Clinic
National Resilience Inc., a San Diego technology-focused manufacturing company dedicated to broadening access to complex medicines, announced a strategic collaboration with Mayo Clinic in biomanufacturing to deliver novel biotherapeutics for rare and complex conditions. The focus will be on therapies derived from biologics — cells, blood, enzymes, tissues, genes, or genetically engineered cells — for use in medicines.
Resilience will collaborate with Mayo’s Center for Regenerative Medicine in Two Discovery Square, located within the research corridor of the Destination Medical Center economic development initiative in Rochester, Minnesota. Resilience and Mayo will build embedded process and analytical development labs, as well as quality control labs. This “embedded” approach allows for closer proximity and collaboration to jointly develop and progress cell therapies and other advanced modalities into clinical care. The collaboration also aims to attract third-party biotech companies interested in sponsoring clinical trials for new therapeutics, as well as collaborating on their process and analytical development.
