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Black Mountain Properties Sells Mid-Peninsula Asset for $61M

San Carlos VI, LLC acquired San Carlos Business Park, a 7-building, 154,462-square-foot office and R&D campus in San Carlos, CA from Black Mountain Properties for $61 million. Black Mountain has held the asset for 20 years, and the disposition will allow it to expand its real estate portfolio beyond the Peninsula.

The more than 9-acre property is comprised of two parcels. A 1.33-acre parcel includes a ground lease for a 27,303-square-foot office building, while the other larger 7.67-acre parcel includes six buildings, totaling 127,159 square feet of R&D space.

The buyer, an unnamed Newport Beach, CA-based investment firm, was advised by Newport Venture Capital. CBRE’s Capital Markets team of Seth McKinnon, Scott Prosser, Joe Moriarty, Sean Sullivan and Tyler Myerdirk represented the seller.

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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.

  • ◦Sale/Acquisition