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California  + Orange County  + Industrial  | 

Colliers Negotiates $33.4M Sale of FedEx-Occupied Logistics Property

Connect Orange County is coming up July 27th at the Balboa Bay Club. Early Bird pricing ends June 30th, here’s where to register.

A FedEx-occupied, 112,000-square-foot logistics building in Costa Mesa, CA was acquired by Santa Monica-based BLT Enterprises Inc. for $33.4 million. The $298-per-square-foot price ranks among the top industrial sales ever recorded in Orange County. The seller was San Diego-based Sovereign Capital Management Group Inc.

Colliers’ Institutional Investment Services Group negotiated the sale of the 1650 Sunflower Building. As part of the sale, the brokerage firm also negotiated a “blend-and-extend” lease that will keep FedEx in the building until 2028. Its original lease was set to expire next year.

Colliers’ Rick Putnam and Eric Cohen handled the sale, while the firm’s Chuck Wilson and Brian Chastain negotiated the lease extension.

Putnam says, “This transaction underscores institutional investor demand for urban, in-fill logistics properties, which has grown in lock-step with online consumer buying.”

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
  • ◦Lease
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