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California  + San Diego  + Office  | 

1031 Exchange Buyer Picks Up Central San Diego Asset for $12.5M

CBRE Group, Inc. completed the sale of an office building in Central San Diego to a Los Angeles based 1031-exchange buyer for $12.5 million. The property, 9860 Mesa Rim, is 100% leased by the University of Southern California, and is the San Diego HQ for USC’s Alzheimer’s Therapeutic Research Institute, which is a part of the Keck School of Medicine.

CBRE’s Matt Pourcho, Gary Stache,  Anthony DeLorenzo, and Mark Shaffer represented the Seattle based seller, Washington Capital Management. The buyer, a high net worth individual plans to keep the property as a long term investment.

Pourcho says, “University of Southern California is a great credit tenant, and the building shows very well. This was a win-win for all parties, and we continue to see 1031 capital outperform institutional capital on the buy-side.”

The two-story, 40,000-square-foot property was built in 2000 and is situated between the I-805 and I-15 freeways.

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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