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Blackstone Buying Roku-Leased Coleman Highline Buildings for $275M

An affiliate of New York-based Blackstone Group Inc. is acquiring two buildings in San Jose’s Coleman Highline office complex, reportedly for roughly $275 million. The properties are leased to Roku Ink., a digital content streaming device maker.

The deal with Blackstone’s nontraded REIT, BREIT, works out to about $770-per-square-foot for the assets. The Coleman Highline property is being developed by Hunter Storm and is near a Caltrain station and Major League Soccer’s Earthquakes Stadium.

It is the same 1.75-million-square-foot mixed-use office, retail, hotel, and restaurant complex at 1125 Coleman Ave. where Roku claimed 730,000 square feet of space at last year for its corporate headquarters. Verizon also leased 650,000 square feet at the eight-building project.

CBRE’s Mike Charters, Jeff Houston and Mike Benevento handle leasing for Coleman Highline.

*Photo courtesy of Hunter Properties


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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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