Friday, April 15, 2022, Metro San Diego Magazine

Sempra give record profits to the investorS
Following increases in SDG & E customer accounts

By Camille von Kaenel | New source

Sempra Energy, the parent company of San Diego Gas & Electric, is paying its highest ever profits to investors this month.

The imminent payment to investors on Friday comes following a huge jump in bills for many SDG & E customers, who already hold the highest electricity prices per unit in the country. SDG & E executives blamed inflation and an unusual jump in the price of natural gas on higher electricity bills. The increases came after the company raised its tariffs for a year.

The payment comes even when consumer supporters say the rates and profit margins of SDG & E, on which the company negotiates with a regulator in the country, are too high.

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vineyard
Wine sales in San Diego County
19 percent increase and exceeds $ 44 million

San Diego wineries received $ 44.1 million in gross sales last year, a 19 percent increase from 2020, the San Diego County Vineyards Association reported. This figure did not reach the sales record of the local winery industry in 2019, which stood at $ 46.2 million.

The number of active wineries in the district also rose to 160 in 2021.

About 1,370 acres of vines were harvested in the area last year, yielding 3,073 tons of wine grapes with a production value of $ 5.2 million. These figures come down from the pre-plague 2019, when San Diego County vineyards harvested 3,596 tons of wine grapes, yielding a production value of $ 5.58 million, with a selling price of $ 1,552 per ton, a record amount achieved in the area. About 81 percent of the growers surveyed reported excellent to good harvest quality, the strongest seen since 2016.

The top three varieties produced in the province last year retain their rankings from previous years – Cabernet Sauvignon, Syrah and Sanjubza, respectively, with Grenache and Merlot in fourth place, and Chardonnay and Petit Syrah in fifth place. This is the first time a white wine variety has appeared in the top five of regional varieties.

Veterans Outpatient Clinic at 8875 Aero Drive in San Diego
Construction on veterans has been completed
Outpatient clinic of Affairs ‘spot shop’
Exam room

Construction of the Veterans Outpatient Clinic (VA) at 8875 Aero Drive in San Diego has been completed. Warr Malcolm provided architecture, design, interior design, civil engineering, branding and building measurements services for the project.

The clinic, a “one store” that caters to hundreds of veterans’ health care needs, is located on 7.74 acres in the second-largest suburban office sub-market in San Diego County. The project was to convert an existing two-story, 100,000-square-foot building into a 130,000-square-foot medical office space by adding additions on the first floor on the north and west sides of the building.

The existing building once kept a billion dollars in cash and coins and was built like a bunker with a two-ton safe door. With the new clinic, Veterans Affairs will expand its services to include mental health, audiology, radiology, dentures, physiotherapy, dentistry and women’s health. The facility also hosts an eye clinic, a specialist clinic, a pathology lab and a large department for primary care.

The construction of the project was led by General Contractor Lucardi. Protea Properties, the developer of the project, is located in San Diego.

The California life sciences industry has attracted
$ 12.5 billion in venture capital in 2021

The California Life Sciences sector directly employed 313,230 employees, raised $ 12.5 billion in venture capital and received $ 5 billion in funding from the National Institutes of Health in 2021, according to a report by California Life Sciences, an organization of life sciences companies.

“Our annual sector report provides an overall assessment of our complex ecosystem and the overall impact of our state on industry and the wider economy,” said Mike Guerra, president and CEO of California Life Sciences. “This report reveals the impact of the epidemic, access to capital , Valuations, employee recruitment, health capital, supply chain challenges, clinical trials, mergers and acquisitions, outsourcing, company culture and more. Despite the challenges, the industry has responded with resilience and continued growth. “

The full report can be downloaded here.

Amy M. Sitpati was named 2022 Leonard Tau
Winner of the Humanism Award in Medicine
Amy M. Sitapati, MD

As someone who respects those who demonstrate the highest standard of compassion and sensitivity in their interactions with patients, Amy M. Sitpati, MD, Chief Medical Officer of UC San Diego Health and Population Clinical Professor at UC San Diego School of Medicine, received the 2022 Leonard Tao Humanism in Medicine Award from the Arnold F. Gold.

Sitpati attributes this award to her practice in Kylie Meditation, which she said provided her with the mental strength and calm that allowed her to be focused in order to provide compassionate care, a force she relied heavily on during the COVID-19 epidemic.

In a career of more than two decades, Sitfati began as an 18-year-old volunteer at a children’s hospital who worked with patients dealing with terminal cystic fibrosis.

During her summer vacations in college, she served as a fellow supporter and secretary of an oncology team, where she witnessed the resilience of children with cancer.

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The Mather Group acquires San Diego’s Avenue Advisors

The Mather Group LLC, a state-of-the-art wealth management company with 11 offices and more than $ 8.2 billion in assets, has announced the acquisition of Avenue Advisors LLC, a San Diego-based investment advisory firm (RIA).

Avenue Advisors had assets under management of approximately $ 85 million, and was led by board member Jean Sinclair, who joined TMG as part of the acquisition.

“The move to TMG brings in so many resources that I believe will be significant to my clients,” Sinclair said. “The ability to leverage the broad and deep technical experience of TMG’s highly qualified professionals, a team of people who will support me and provide greater customer accessibility, and help with a strong technology platform will be helpful.”

San Diego Harbor and USS Midway Museum
Preliminary plans for the ‘Freedom Park’ at the Navy Pier

The Port of San Diego and the USS Midway Museum have reached an agreement outlining a plan for the complete conversion of the Navy platform into a new public park, proposed to be called “Freedom Park,” north of the Gulf of San Diego.
The Ports Council has approved a Memorandum of Understanding (MOU) that includes the port’s $ 11.7 million commitment to fund federal incentives obtained through the U.S. Rescue Program Act and a Midway contribution of no less than $ 30 million to the project.

Project plans call for the demolition of the bed house on the pier, the completion of pile improvements and continuous reinforcement, as well as construction of the park with services that reflect San Diego’s military history, footpaths around and through the park, landscaping, benches, signage, restrooms and parking. The full cost of building the park will be determined as the park is planned later.

The state offers cleaning grants
Of cannabis plants are prohibited on public lands

The California Department of Fish and Wildlife (CDFW) has announced two future funding opportunities through the Cannabis Rehabilitation Grant Program (CRGP). Each solicitation will offer up to $ 10 million for eligible projects.

The first opportunity is a draft solicitation of cleaning and restoration of public lands for the cleaning and repair of the effects of illegal cannabis cultivation on certified public land. The second opportunity is a draft solicitation to improve the watershed and communities through road improvements, cleaning and rehabilitation of private lands, improvements to wildlife and habitats and / or water conservation projects.

CDFW will host an online workshop on April 22, 2022, at 10:00 a.m. to provide an overview of two draft references. See the CDFW CRGP page for more details on the workshop.

Tower 16 Capital Partners acquires 322 units
Apartment building in Tucson, Ariz.

Tower 16 Capital Partners, based in San Diego, acquired Nottinghill Apartments, a 322-family multi-family property in Tucson, Aries, in an off-market transaction for $ 35.5 million. Nottinghill is Tower 16’s third investment in Tucson since it entered the market in late 2020. The San Diego-based multi-family investment firm has identified Tucson as one of its main target markets, and with the acquisition of Nottinghill, Tower 16 is now halfway to its 1,500-unit portfolio. By the end of 2023.
Nottinghill Apartments are located at 2660 N Alvernon Way. The property includes a leasing office, a club and four pools.
Tower 16 will oversee more than $ 8 million in property upgrades and renovations, including modern unit upgrades, exterior and shared improvements and landscaping improvements. In addition to updating the pool area, Tower 16 will also add outdoor amenities including barbecues, seating areas and games.

JLL Income Property Trust acquires
Distribution center in southern San Diego

JLL Income Property Trust, NAV REIT Daily Institutional Management, has announced the acquisition of the South San Diego Distribution Center, a three-story 665,000-square-foot industrial building in San Diego. The three properties are leased 96% to eight tenants, and the purchase price was $ 158.5 million.

“Industrial assets continue to be an overweight for our portfolio given the continuing demand for tenants and a strong and long-term outlook for the sector that we believe will yield a stable income for our shareholders,” said JLL Income Property Trust President and CEO Alan Sweringingen. With our strategy, given its location near an irreplaceable transportation infrastructure and San Diego’s strong industrial rental growth. ”

GS1 USA Conference June 7-9 in San Diego
Focus on supply chain optimization

GS1 Connect 2022, the June 7-9 conference and exhibition hosted by GS1 US, will feature speakers from more than 100 leading companies that will share strategies for optimizing today’s supply chain. Sample companies include: Amazon, Bumble Bee Foods, Chipotle Mexican Grill, DICK’S Sporting Goods, Dillard’s, Johnson & Johnson, Kellogg, Macy’s, McDonald’s Corporation, Ralph Lauren, and Under Armor.

The event will be held at the Marriott Marquis San Diego Marina in San Diego. To view the agenda, visit www.GS1Connect.org.

This year’s conference presents live and on-demand content in four industry tracks (retail, grocery, food and health services) and two horizontal tracks (technology and innovation). Sessions represent a variety of topics, such as supply chain visibility, data quality, digital commerce, tracking, sustainability, best practices for radio frequency identification (RFID), regulated health and food services, cold chain management, automation, evolving technology and more.

Report: Rental prices in the US are skyrocketing
20 percent in just two years

Rental prices in the U.S. grew by nearly 20 percent from March 2020 to 2022 during the epidemic, according to Realtor.co’s monthly rental report. In addition, two-year rental trends point to some redistribution of higher rents across the 50 largest markets during the COVID, as tenants migrated from high-tech expensive cities to cheaper areas. Metro Sun Ballet topped the list of fastest-growing rental markets between March 2020-2022, led by Miami, Riverside, California and Tampa, Florida, while large technology centers recorded many of the smallest two-year rent increases in the state.

The median rental price in the U.S. reached a new high of $ 1,807 in March, an increase of 19.3% in just two years, highlighting a roller coaster of change since the epidemic began. In 2021

And have since maintained a feverish rate of annual rent increase. In fact, March marked the eighth consecutive month of double-digit increases in annual rent (+17 percent), even when the pace moderated slightly in February (+17.1 percent).

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