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California  + San Diego  + Office  | 

Casey Brown Companies Claim City Center Assets

San Diego-based Casey Brown Companies acquired a City Center office property in San Diego for $14.5 million. The seller was San Diego State University Research Foundation (SDSURF).

The property includes two of the largest office buildings on El Cajon Boulevard at 4275 and 4283 El Cajon Blvd., and a four-story, 149-stall parking structure. The off-market transaction was structured as a sale leaseback. SDSURF executed a five-year lease with one five-year extension option.

Voit Real Estate Services’ Kipp Gstettenbauer and Ryan King handled the sale, which closed in less than one week.

Gstettenbauer notes investors have strong appetites for commercial real estate deals despite the current environment, provided they are well-located and demonstrate strong market fundamentals. He says, “In this case, we were able to achieve SDSURF’s goal by allowing them to remain at the property and serve their research projects and tenancies over the next several years, while also providing a net-leased opportunity with strong development upside for the buyer.”

For comments, questions or concerns, please contact Dennis Kaiser

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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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