A Camping World dealer. Image from company website
Outdoor Recreation Retailer in Illinois Camping World Holdings said it acquires family property RV Solutions here in San Diego. The deal includes two landmark outlets, RV Solutions and Airflow from San Diego – together with a repair center in El Cajon.
According to a press release, the acquisition should be completed early next year. Terms were not disclosed.
The sites are operated as Camping World RV SuperCenters.
Camping World, a public company, has locations in 42 states
The acquisition comes at a time when RV buyer enthusiasm – which exploded during the COVID-19 pandemic – has plummeted over the past year.
A market researcher said October sales fell 20% year-on-year.
As a result, sales — and the company’s stock price — have fallen significantly.
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That San Diego Food Bank is one of several public larders nationwide to benefit from a $60,000 donation from Colorado PCL construction. The company said it had donated a total of $1.5 million to local food banks.
A press release said that rising food prices, along with higher energy and housing prices, have made it difficult for millions of Americans to put food on the table — one reason PCL has donated to regional food banks.
According to the consumer price index, the food-at-home index, a measure of grocery price changes, is up more than 12.4% over the year.
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Based in San Diego Sunbelt Investment Holdings recently sold Costco Wholesale Corp., which operates private member Costco’s warehouses, a 50-acre, $5.7 million piece of land in Buckeye, in the greater Phoenix area.
The deal was first reported by the Phoenix Business Journal based on country records and a commercial real estate database.
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That San Diego County Bar Association elected as a long-term member Melissa Johnson serve as president for 2023, according to a press release.
Johnson, a Santee resident, will be brought together with the new board of directors at the association’s annual dinner on December 9.
Johnson is a partner at Johnson Heeder LLPand represents employees in labor law matters.
The 123-year-old Bar Association, the largest legal organization in the region. It says its mission is to connect lawyers and help them succeed.
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Escient Pharmaceuticalsa biotech company developing small molecule therapeutics to treat a broad spectrum of neurosensory-inflammatory diseases has closed a $120 million Series C funding round.
VC firms NEA and Abingworthalong with Forge Life Science Partners, led the investment with the participation of other investors I drive, PFM Health Sciences and The Elf Fundas well as existing investors.
The investment will be used to advance two of the company’s drug candidates.
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This straight in from residential real estate web portal redfin.
Mortgage applications and Redfin’s Homebuyer Demand Index rose recently as interest rates fluctuated 6.6%, compared with 7% earlier this month.
The drop could save a buyer over $100 in home payments, the company said.
Still, supply is piling up — with a record annual increase — as pending sales fell, according to a report by Redfin.
According to the report, home selling prices are down year over year in five major metro areas, including San Francisco down 9.5% year over year, Sacramento down 2.1%, Detroit down 1.7% and San Jose and here in less than 1% San Diego.
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Some good news for small businesses. Japanese owned Based in San Francisco Union Bank notes that small business sales are now surpassing pre-pandemic levels and will pick up into the holiday season. This is after his annual survey of holiday expenses.
The survey examined how small businesses are navigating the changes in today’s retail economy and how their consumers might be spending this holiday season.
Among the findings:
- Nine out of ten business owners have increased their social media activities to better reach digitally savvy consumers.
- One in two consumers will spend more at businesses that offer online ordering, while one in three consumers will likely spend more at small businesses that offer “buy now, pay later” plans and/or offer third-party integration payment platforms.
- 62% of respondents said inflation will affect their spending this year and plan to spend “with more purpose and intent.”
- California consumers plan to spend more at small and minority-owned businesses, with 75% of consumers planning to shop from a small business and 71% planning to spend from a minority-owned business.
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Finally, this note. San Diego’s East Village continues robust redevelopment activity.
Business Promotion Agency San Diego Regional EDC has moved into offices on the fourth floor Park & Marketa mixed-use commercial, arts and education office building.
The business development organization says it will hold its annual meetings, conferences and events at its new location.
The building serves a number of non-profit organizations including the Burnham Center for Cultural Promotionthe UC San Diego Center for US-Mexican Studies and the National Conflict Resolution Center.
UC San Diego Department of Advanced Studies manages the office building. Visit parkandmarket.ucsd.edu for more information.
Tom York is a Carlsbad-based independent journalist specializing in writing about business and economics. If you have any news tips you’d like to share, send them to [email protected]