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Paradise Valley Plaza Picked Up by Montana Investor

Billings, MT-based Cloud Peak Development, LLC acquired Paradise Valley Plaza in Paradise Valley from Solana Beach, CA-based Fenway Capital Advisors for nearly $16.75 million. The office property consists of three, two-story buildings totaling 100,241 square feet.

The complex at 5010, 5020 and 5040 E. Shea Blvd. sits on nearly six acres. It features expansive frontage along Shea Boulevard and was 92% leased at the time of sale to a diversified tenant mix. Two buildings were developed in the 1980s and another in 2000, with the entire campus undergoing a renovation in 2015.

Cushman & Wakefield’s Eric Wichterman, Mike Coover, Steve Lindley, Robert Buckley and Tracy Cartledge represented the buyer and seller in the transaction.

Wichterman says, “The property’s location, recently completed renovation and rare Santa Fe architectural design have all contributed to its exceptional historical occupancy rate of well over 90% over the last twenty years.”

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