SRS-Brokered NNN Deal in OC Sets Record

SRS Real Estate Partners’ National Net Lease Group executed a record-breaking $9.182-million sale of single-tenant, 23,800-square-foot property occupied by VCA Animal Hospital in Fountain Valley, CA. At a closing cap rate 4.75%, this sale marks the lowest cap rate ever for a VCA-occupied property nationwide as well as the lowest cap rate ever for a single-tenant net leased veterinary hospital in California.

SRS’s Matthew Mousavi, Patrick Luther and Rich Walter represented the seller, an unnamed Orange County-based family trust, as well as the buyer, an undisclosed Southern California-based private investor.

Built in 1969 and renovated by the tenant in 2017 with $6 million in major building renovations, the property is situated on 2.14 acres and is located on a major thoroughfare just off Interstate 405. VCA recently extended its lease for an additional 10 years and this location at 18300 Euclid St. is one of VCA’s five flagship hospitals for its brand.

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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.

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