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BLT Divests R&D Asset in San Diego’s Kearny Mesa Submarket

BLT Enterprises sold a 54,000-square-foot R&D/flex building in San Diego’s Kearny Mesa submarket for $18 million, or $330-per-square-foot. The buyer was San Diego Unified School District.

The Santa Monica, CA-based firm acquired the property in 2017. BLT Enterprises Bernard Huberman says, “Due to the property’s strategic location in a thriving industrial submarket, we knew that we could quickly enhance value by renovating, upgrading and modernizing the asset.”

The company converted the 77,000 square-foot, two-story office building at 5454 Ruffin Rd. back to its original 54,000 square-foot size by removing a second-story office space constructed in the late 1980s. BLT also modernized and upgraded the property by integrating a unique outdoor amenity space, new lobby, exposed high ceilings, skylights, dual pane energy efficient glazing, and LED lighting.

Colliers International’s Tom Mercer represented the buyer. SD Realty Partners’ Ron Jacobson along with CBRE’s Brad Black and Chris Pascale advised the seller.

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.

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