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California  + Orange County  + Office  | 

Benchmark Holdings Acquires IBC Office Asset

Alton Deere Plaza, a multi-tenant office park located in the Irvine Business Complex in the city of Santa Ana, CA, was acquired by Benchmark Holdings for $32.8 million. The property, located at 1920-1940 Deere Ave., features six one- and two-story office buildings totaling 185,245 square feet.

The project is 96% leased to 21 tenants, including Verizon, XO Communications and American Cancer Society with in-place average rents 28% below market.

CBRE’s Shaun Moothart and Bruce Francis arranged the debt and equity funding on behalf of the buyer. CBRE’s Anthony DeLorenzo, Gary Stache, Sean Sullivan, Todd Tydlaska and Ted Snell represented the undisclosed seller.

Moothart and Francis facilitated a five-year floating-rate bridge loan priced in the mid-200’s over LIBOR, with interest only for the entire term of the loan.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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