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Walnut Creek Investor Makes Initial Move into Sacramento Market

Walnut Creek, CA-based Nearon Enterprises made its first entry into the Sacramento region, acquiring a fully-leased industrial portfolio totaling 517,767 square feet from Massie & Co. for $34 million. The sale included the three buildings on nearly 30 acres located at 6300 S. Watt Ave., 8360 Elder Creek Rd. and 8920 43rd Ave., which are fully leased to American Building Supply, Inc. (ABS), a wholly-owned subsidiary of Jeld Wen.

Cushman & Wakefield’s Kevin Partington, Matt Cologna, Bryce MacDonald, David Nicholson, Ron Thomas, Bruce Hohenhaus, Chris Schwarze, Adam Lasoff, Seth Siegel, Steven Hermann and Eric Fox represented the seller.

Partington says, “The sale consisted of three well-maintained buildings fully leased to a longstanding single tenant which still has several years of term remaining on their lease. This long tenure, coupled with in-place rents approximately 30% below market standard, will provide stable cash flow and also a value-add component at renewal.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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