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California  + Inland Empire  + Industrial  | 

ASB Acquires Industrial Facility in Riverside for $124M

ASB Real Estate Investments (ASB) acquired a newly-constructed, one-million-square-foot, Class A industrial distribution facility in Riverside, CA from a client of Washington Capital Management, Inc. for $123.75 million.

The Columbia Business Park project is located at 490 Columbia Ave. and was developed by Trammell Crow Company. The purchase was made on behalf of ASB’s $7.6-billion Allegiance Real Estate Fund, a core investment vehicle. The property, which features ultra-high 37-foot clear ceilings, cross docking with 143 dock-high doors and 195 trailer stalls, is 100% leased on a long-term basis.

ASB’s Aaron Duncan says, “ASB has acquired a state-of-the-art facility in one of the most dynamic industrial markets in the country, with superior access to transportation networks and the Ports of Los Angeles and Long Beach. The purchase furthers ASB’s strategic direction to expand our industrial portfolio while pursuing strong income-oriented returns for our clients.”

CBRE’s Institutional Properties group, led by Darla Longo and Barbara Perrier, handled the deal.

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Trammell Crow
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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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