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2d 761, 722 (S.D. Size: 433,132 square feet, 10 stories. Id. 53 at 16). Plaintiff is a real estate services company operating in Texas, California, and North Carolina. Stockdale Capital Partners is now laying the groundwork to transform Horton Plaza into San Diegos next big economic windfall: a modern office campus. . Los Angeles-based Stockdale's planned $275 million . Marriott Le Merigot hotel in Santa Monica sold to Stockdale Capital Partners for around $75 million, The Real Deal has learned. See Bd. Joseph Wong Design Associates is designing that project, and JLL is in charge of leasing. Downtown's retail ghost town is on the cusp of construction activity with Horton Plaza's owner now financially equipped to convert the property into a mixed-use office campus for elite tech tenants. In the process, the developer hopes to create thousands of high-paying jobs and hundreds of millions of dollars if not billions in yearly economic impact. The total square footage of the properties, located at 9090 Wilshire. See, e.g., (Doc. Glassdoor has 3 Stockdale Capital Partners reviews submitted anonymously by Stockdale Capital Partners employees. 41-15 Exh. 2010) (quoting Two Pesos, Inc. v. Taco Cabana, Inc., 505 U.S. 763, 768 (1992)). What additional experience/credentials can I get to set myself apart? Mark similarity "is determined by comparing the marks' appearance, sound, and meaning." In Morrisville, North Carolina, the Spark LS development, a $1B, 109-acre campus project by Starwood Capital Group and Trinity Capital, will spread 1.5M SF of lab space across more than a dozen . Sint in voluptatem facilis deleniti eveniet iusto nesciunt optio. It's a lofty vision that depends on high-profile tenants committing to the project and can be only realized once Stockdale Capital closes the transaction. Make your practice more effective and efficient with Casetexts legal research suite. It focuses on the "real estate design, construction, and property management space." of Law, 214 F. Supp. They proposed an "innovation hub" focused on technology and biotechnology companies. The other two instances provide a somewhat more tenable basis for actual confusion. 34-2 8). Smack Apparel, 550 F.3d at 478. By Isabella Farr. The deal closed May 11. LOS ANGELESStockdale Capital Companions (Stockdale), a Los Angeles-based, vertically-integrated actual property funding company, bought the DoubleTree Suites Salt Lake Town Downtown. She worked as a multimedia journalist and anchor at WRTV in Indianapolis. The Marker, a 208-key hotel built in 1910, is blocks away from Union Square and the Moscone Convention Center. Ground floor retail is still part of the envisioned equation, though storefronts will primarily feature singular, San Diego-inspired eateries along with boutique health and fitness venues. This factor weighs in favor of a likelihood of confusion. While the Jon Jerde-designed center attracts almost no customers today, it does attract lawsuits. 2016) (concluding that "Houston College of Law" creates a substantial risk that potential purchasers would believe that it was connected with the University of Houston). Find the best employment attorney serving Stockdale. We are moving full steam ahead with leasing discussions and to announce a mix of exciting and impactful tenants shortly.. Westfield for $175 million. The California-based investment firm owns hotels in Scottsdale, Arizona, and medical and office space in California. The moving party bears the burden of demonstrating the absence of a genuine issue of material fact. Despite the pandemic, Stockdale has embarked on a $12 million refurbishing effort to attract life science users. at 6. In weighing these factors, no one factor is dispositive, and a finding of likelihood of confusion need not be supported by a majority of the factors. 2005-2023 Wall Street Oasis. (Doc. 2017) (quoting In re Hutchinson Tech., Inc., 852 F.2d 552, 554 (Fed. Id. for Better Gov't, 901 F.3d 498, 505 (5th Cir. Earlier this month, Macy's West Stores, Inc. had filed a lawsuit against Stockdale Capital Partners, the Los Angeles-based real estate investment firm that purchased the Jon Jerde -designed. By signing up for ClassAction.org's newsletter, you can read all about the latest class action settlements, making it easier than ever to claim money that's owed to you. (Doc. Acquisitions Professionals - Any Activity? 3d 928 (S.D. Rabobank was the successor institution. See, e.g., (Doc. 41-1 at 112). Retailer's Exit Lets Developer Stockdale Proceed With $275 Million Downtown Project By Lou Hirsh CoStar News Developer Stockdale Capital Partners' plans to turn a faded downtown San Diego mall into creative offices are back on schedule, after longtime tenant Macy's dropped its opposition and announced plans to vacate the site in March. Defendants "typically target investments, acquisitions, and developments that are in the $50 [million] to $200 [million] range, but up to $400 [million]." reached a settlement with Macys that will allow the company to proceed with Additionally, it intends to turn a path that winds through the development into a public boardwalk. See you on the other side! V. Houston Coll. (2008) and Mamma Mia! Like hotel owners across the country, Columbia Sussex was slammed by the coronavirus. Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. For example, in Bulbs 4 East Side, the court determined that there was sufficient evidence to demonstrate secondary meaning where the plaintiff had used the mark continuously for some 34 years, its annual sales had increased over the past eight years to $1.4 million, its advertising expenses had grown during that period, and it enjoyed unsolicited nationwide media coverage. Id. The Fifth Circuit affirmed that there was no fact issue as to whether the plaintiff's symbol had acquired secondary meaning even though the plaintiff had used the symbol for ten years, spent nearly $725,000 in advertising and promoting the symbol, realized over $11.5 million in revenue since it began using the symbol, and declarations from consumers indicated confusion when seeing rival self-storage facilities that displayed symbols similar to that of the plaintiff. Because Plaintiff's mark is merely descriptive, it is protectable only if it has acquired secondary meaning. Excel Best Practices To Avoid A Black Box Model. Tex. at 638). Stockdale Capital Partners plans to resurrect the former Horton Plaza Mall, a . Strength of the mark. Amazing Spaces, Inc. v. Metro Mini Storage, 608 F.3d 225, 230 n.7 (5th Cir. Los Angeles-based Stockdale's planned $275 million . the mall from the 600,000 square feet that was required in deed restrictions to Going Vertical No. Accordingly, Plaintiff's mark is descriptive as a surname. In May, it sold . Stockdale Capital Partners announced that it has reached a settlement with Macy's that will allow the company to proceed with the $275 million redevelopment of Horton Plaza in downtown San Diego. Stockdale Capital Partners announced that it has reached a settlement with Macy's that will allow the company to proceed with the $275 million redevelopment of Horton Plaza in downtown San Diego. Focused investments on compelling, premier opportunities. Provide . 41-4 at 117), (Doc. The lawsuit says the plaintiff, the owner of a Virginia plumbing business who allegedly paid the defendants "a staggering $347,075 in interest" in less than a year and an additional $68,494 in ACH program fees, is a prime example of "both the destruction of small businesses and the devastation to their individual owners and families." Id. in the face of competition from online shopping outlets. Its clear that there are many millennials who would like to live downtown, and do live downtown, but have to commute north to job centers. Stockdale Capital Partners bought the 175-key hotel. However, while empirical evidence such as consumer surveys is the strongest evidence of secondary meaning, it is not required. The Court evaluates each in turn. In August 2018, Stockdale Capital Partners purchased the complex with the intention of developing it into The Campus at Horton, an office and retail complex. However, actual confusion need not be proven to establish a likelihood of confusion; this factor is accordingly neutral. A genuine issue of material fact exists if a reasonable jury could enter a verdict for the non-moving party. The best employees, having . Buyer: Los Angeles-based Stockdale Capital Partners. The Company invests, owns, and operates multiple asset classes. The real estate investment firm, currently in escrow on the Westfield-owned property, will strip the 33-year-old mall of its longstanding retail roots in favor of an all-inclusive, upscale work-and-play environment, according to multiple local community stakeholders who have been briefed on the firms plans. Nonetheless, even where marks are distinguishable, the inquiry is whether they are "similar enough that a reasonable person could believe the two products have a common origin or association." The company in January reached a settlement of a lawsuit that had been filed by Macy's. The company said Stockdale had violated the terms of its lease with the redevelopment plans that shifted. See Xtreme Lashes, 576 F.3d at 229. Plaintiff Walter F. Jones filed his lawsuit against J.G. They work on some very ambitious and cool projects such as Horton Plaza redevelopment but there isn't much information on the inner workings of the firm. Descriptive marks are not inherently distinctive because they merely "identif[y] a characteristic or quality of an article or service, such as its color, odor, function, dimensions, or ingredients." The environment feels very comfortable and very artistic.. It has secured a $550 million real estate opportunity fund to look at new opportunities. See, e.g., Viacom Int'l, 891 F.3d at 191. Actual confusion. Additional office space is planned by Stockdale Capital Partners for Horton Plaza, although a pair of the mall's current tenants are fighting the conversion. The Court made that decision in response to a lawsuit filed by the Sierra Club. Weighing these factors, the Court is persuaded that, despite the sophistication and diligence of potential real estate customers, a genuine fact issue remains based on the similarity of the marks and the fact that both parties are engaged in the real estate industry. Springboards to Educ., Inc. v. Hous. Lawsuit: Sacramento police uses force against racial justice protests but ignores Proud Boys . Columbia Sussex listed the hotel, at 1740 Ocean Avenue, earlier this year. is not active anymore since 2001-05-24 due to Merger - Without Assistance. No. No. In two of these instances, however, while the witnesses did wrongly presume that "Stockdale" referred to Plaintiff, the witnesses did not specifically confuse Defendants' mark for Plaintiff'sin other words, Defendants' mark was not the source of confusion. Capital preservation through proven, experienced risk management. All. (John Kelley, John Gibbins, Jennifer Van. 1225(a), unfair competition under 15 U.S.C. San Diego Mayor Kevin Faulconer and several business leaders have asked Macy's to stand down from their lawsuit against Stockdale Capital Partners, the new owners of Horton Plaza Mall. Construction Efforts to Redevelop Horton Plaza to Continue in Earnest SAN DIEGO (March 9, 2020) -- Today, Stockdale Capital Partners ("Stockdale") announced the closing of a $330 million loan with a group of funds managed by Alliance Bernstein to continue redevelopment efforts at Horton Plaza. It could add an additional 1.5 million square feet of office space and other amenities down the road. A descriptive mark can only be protectible when it has acquired secondary meaning. If a mark has acquired secondary meaning, it is deemed to be a strong mark. (Doc. at 237; see also Wal-Mart Stores, Inc. v. Samara Bros, Inc., 529 U.S. 205, 210-11 (2000). 1225(a), and unfair competition under Texas common law. Tex. In this case, the Court finds that the parties' marks share sufficient similarities that a consumer could conceivably believe that Defendants are associated with Plaintiff. focused on structured investment opportunities. Such associational confusion is particularly pertinent where, as here, both parties are real estate companies employing the name "Stockdale" with logos containing similar color schemes. WSO depends on everyone being able to pitch in when they know something. 34-2 4). In Horton Plaza, which was owned by Westfield Corp., Stockdale Capital acquired a five-level, 900,000-square-foot property onten blocks that was once considered the jewel of downtown San Diego. Jade Hindmon is KPBS Midday Edition co-host. Moreover, as the USPTO further determined, the mark has the structure and pronunciation of a surname, there is no stylization associated with the mark that would remove its primary significance from being that of a surname, and the mark has no other known meanings. Apply to Senior Financial Accountant, Realtor, Line Cook/prep Cook and more! Id. A mark develops secondary meaning "when, in the minds of the public, the primary significance of [the mark] is to identify the source of the product rather than the product itself." Id. Jade also had the opportunity to cover international news and was able to travel to South Africa during the 2010 World Cup. Here, the designs of the two marks, taken as a whole, are certainly distinguishable. A mark is protectable if it is distinctive, meaning it must be "capable of distinguishing the applicant's goods from those of others." Oct. 15, 2019). Only three claims for relief remain at issue in this case; Plaintiff withdrew counts II, III, VII, and VIII in its Second Amended Complaint. The site is adjacent to where Stockdale is already developing the Marquee office building at Scottsdale Road and Shoeman Lane. Courts have recognized that the more expensive the item or service, the more care a potential purchaser will likely take in its selection. (Doc. institutions including The Carlyle Group, Highbridge Capital and Morgan Stanley. Stockdale Capital Partners and Jasper Ridge Partners have formed an institutional joint venture to recapitalize $142.5M Galleria Corporate Center in Scottsdale, AZ. Anyone familiar with the culture, hours, and comps for investment associate at Stockdale Capital Partner? While Defendants' primary service is the acquisition and development of real estate for commercial uses, Plaintiff assists tenants in leasing properties it does not own, acquires real estate without seeking outside investor capital, and provides consultant services to third parties related to site selection and due diligence. Co-founders Sean and Stephen Yari, Property on 1740 Ocean Avenue (Google Maps) JW Marriott Rumelia Gott Hotel Santa monica Sold to Stockdale Capital Partners for about $ 75 million Genuine Have learned.. Bill Doak, Managing Director of Hospitality at Stockdale, confirmed the sale but did not provide the exact amount. What jumps out at me the most is how open (the design) is, said Mark Cafferty, president and CEO of the San Diego Regional Economic Development Corporation. 41-1 at 42, 97). (John Kelley, John Gibbins, Jennifer Van Grove). Stockdale Radiology is a full-service imaging center with a dedicated women's center. The new owners, Stockdale Capital Partners, bought Horton Plaza just over a year ago and have. Los Angeles-based Stockdale's planned $275 million . On one hand, Defendants argue that the parties provide different services and operate on different scales. The Court agrees. The mall was designed by architect Jon Jerdeand opened in 1985 in the citys historic Gaslamp Quarter. stockdale capital lawsuit. I was exhausted., Do Not Sell/Share My Personal Information. Jul 2018 - Present3 years 2 months. The open air shopping center at 8340 Northfield Blvd. Id. "Stockdale" was chosen as a reference to Stockdale, California, where the company was founded. In 1999, a Texas state court in Dallas ruled against Stockdale and Viper International in a civil lawsuit claiming securities fraud andmisrepresentation by selling false stock. Kentucky-based Columbia Sussex sold the 175-key. Home; About us; Partner With Us; Contact Us; Sign Up; average 40 year old woman wrinkles . The USPTO denied Plaintiff's application to register "Stockdale" in October 2018 on the basis that it is primarily a surname. The J.W. The mall opened in 1985 but has grown obsolete The Court finds neither the passing email inquiry nor allusions to third parties' confusion to be compelling evidence of actual confusion. Bd. Bainbridge DXS and its management wing Torrey Pines Hotel Group, launched a $500 million fund earlier this year to buy up to 200 distressed properties. Stockdale acquired the mall in 2018 from Westfield for $175 million. Finally, Plaintiff was recognized in the Dallas Business Journal as one of the "Best Places to Work" in 2016, 2017, and 2018. Defendants urge that the evidence presented here is more analogous to that in Amazing Spaces, Inc., 608 F.3d at 225. Plaintiff learned of Defendants in 2017 after a broker from a real estate investment firm contacted Plaintiff to inquire whether they were involved in marketing a pending deal. (Doc. Los Angeles /. Co-Founders Shawn and Steven Yari, with the property at 1740 Ocean Avenue (Google Maps). 41-16 at 20). Redevelopment of Horton Plaza in downtown San Diego is ramping up with a $330 million loan secured by Stockdale Capital Partners with a group of funds managed by Alliance Bernstein. 1051 et seq., a plaintiff must show, first, ownership of a legally protectable mark and, second, a likelihood of confusion created by an infringing mark. The Business Journalis the premier business publication in San Diego. Its a lofty vision that depends on high-profile tenants committing to the project and can be only realized once Stockdale Capital closes the transaction. 34-13 at 2). No. See SA Bay LLC v. Hall, 849 F. Supp. To prevail on its infringement claim, Plaintiff must also show that "the defendant's use of the mark creates a likelihood of confusion in the minds of potential customers as to the source, affiliation, or sponsorship of the product at issue." Annualized for September 30, 2021 and September 30 . Lincoln Property Company (LPC), one of the largest full-service real estate firms in the United States - owning and managing over 400 million square .