First, positive news for those seeking a place to rent here in San Diego. That process has gotten just a tad easier for locals.
Last year we were the most competitive market in the state, but now, we’re second, behind Orange County, which moved into first.
This is according to a just-out national study from apartment rental website RentCafe, which said we lost last year’s top ranking, thanks to a 0.24% uptick in the supply of new apartments and the fact that only 50% of current are renewing their leases.
‘More people moving around mean more options for prospective renters,” the study found.
Naiontwide, San Diego was the 18th most competitive metro region for finding a place to rent.
Silicon Valley’s rental market ranked No. 3 in the state with nine renters competing for each unit that comes to market.
Elsewhere, East Los Angeles ranked No. 4 and the Central Valley No. 5.
Surprisingly, San Francisco ranked only No. 8, perhaps a reflection of the economic downturn that has impacted the city’s notorious rental market.
Click here for an overview of the highly competitive market in the Golden State
The RentCafe study listed Miami as the most competitive rental market in the U.S., with its thriving economy intensifying the competition for apartments.
However, the competition can be found in most regions of the country.
The Midwest’s shift from its “Rust Belt” past to tech and manufacturing has heightened its rental competitiveness. Milwaukee was cited as an example.
The study said Midwest has emerged as the most competitive region for renting at the start of 2024 primarily due to its affordability and reinvented economy, which is attracting high demand for rental properties.
In fact, in addition to its cost-effectiveness, today’s Midwest has almost completely shaken off its “Rust Belt” label.
* * *
Consumer product maker Serengeti Eyewear said it has moved its operations to Carlsbad from France.
According to a news release, Bollé Brands, which owns the unit, made the move as it consolidates global brand management to its North American headquarters.
Bollé executive François Benaben said the move aligns with the company’s vision for rapid growth in the North American market.
* * *
Venerable retailer San Diego Hardware said the fifth generation of the founding family has assumed partial ownership of the business.
In a news release, Bryan and Hannah Haynsworth, children of co-owners Rip Fleming and Bill Haynsworth said they will bring fresh energy to the business after years of pivotal contributions.
They both worked in the store since teenagers and spearheaded initiatives like the new websites and adding an exclusive showroom for interior designers.
This spring, the store’s showroom will offer appointment-only access to premium decorative hardware.
The owners of San Diego Hardware also run a separate online business called HardwareSource.com, which offers more than 4,000 hinges for everything from 3,000-pound doors to jewelry boxes.
* * *
San Diego law firm Glaser Weil said veteran attorney Joseph Leventhal has joined as partner and head of litigation for the San Diego Office.
Leventhal was previously at law firm Dinsmore where he served as the San Diego office managing partner.
* * *
San Diego spray lubricant maker WD-40 said it has acquired Theron Marketing Ltda., its longtime Brazilian marketing distributor, in an all-cash offer, which will allow for direct distribution within Brazil.
According to a news release, the purchase is part of the company’s strategy to lead geographic expansion.
* * *
Business consulting firm Vistage announced it has acquired its licensee, TEC Australia, and New Zealand, to increase the growth of its CEO peer advisory in the region.
Vistage is the world’s largest CEO coaching and peer advisory organization for small and midsize businesses, according to the news release.
Vistage was originally founded in the United States in 1957 under the name The Executive Committee or TEC.
The business now features a community of more than 45,000 members.
* * *
Drain and sewer service franchisor Zoom Drain has announced the launch of its newest franchise in the San Diego area. The business joins close friends HooiJin and Yeanmay Teng and Josef and Heather Shreve as the original owners.
The couples opened the doors to Zoom Drain of San Diego North County this week.
* * *
San Diego industrial-strength software developer alwaysAI has announced a new “solution” for the mining industry, which revolutionizes” the mine-to-market value chain, promising enhanced productivity, safety, and profitability for mining operations worldwide.”
The company said it is collaborating with mining industry leaders like the Instituto de Ingenieros de Minas del Perú to swiftly deploy Vision AI applications for data-driven improvements in the mining sector.
Vision AI’s potential to optimize mineral processing and enhance overall efficiency underscores its role as a transformative tool in modern mining operations.
AlwaysAI’s computer vision solutions detect objects, people, and events in real time to dramatically improve operations and ROI.
* * *
Seventeen-year-old San Diego utility cost-savings firm Multifamily Utility Co. said it has bolstered its leadership team with the appointment of Maliece Sorrows as vice president of operations.
Sorrows more than three decades of multifamily industry experience.
Multifamily Utility, which opened in 2007, specializes in utility expense management and resident billing services, promoting sustainability and cost-effectiveness in multifamily properties.
* * *
Finally, it’s full steam ahead on San Diego’s downtown waterfront.
San Diego has become an increasingly important stop for commercial cruise lines sailing to and from points around the globe.
Two recent announcements underscore San Diego’s role in the global cruise industry, which has been exploding in popularity since the end of the COVID crisis.
For example, we figure prominently in a recent a news release from Holland America, which said it is taking bookings for its 2025-2026 Panama Canal and Hawaii cruises.
The line said it will offer departures from five North American homeports on five of its ships, including San Diego, for many of its sailings.
Holland America’s Nieuw Amsterdam will make its San Diego debut in 2025-26, offering roundtrip itineraries from America’s finest city.
The company is offering an 18-day “Circle Hawaii” cruise, which is offered as a roundtrip from either San Diego or Vancouver, B.C., and will visit various stops in the islands.
The roundtrip from San Diego will also include a stop in Ensenada, while the roundtrip from Vancouver will add Victoria, Canada, to its itinerary.
Meanwhile, upscale cruise Oceania Cruises has announced a 2026 Around the World journey aboard Vista, with a 120-day voyage from San Diego to Miami.
San Diego is California’s third busiest cruise port behind Long Beach and Los Angeles.
The Port has predicted that the number of cruise ship calls in the next few years is expected to reach between 130 and 146 per year, a 54% increase over pre-COVID ship calls.
The port said the cruise ship visits generate a more than $20 million boost each year to the city’s travel and tourism economy.
Tom York is a Carlsbad-based independent journalist who specializes in writing about business and the economy. If you have news tips you’d like to share, send them to tom.york@gmail.com.
