CBRE Secures $22M in Acquisition Financing for Cold Storage Facility in Phoenix
CBRE Capital Markets Debt & Structured Finance arranged a $22 million loan for the acquisition of a 285,022-square-foot cold storage facility located in Phoenix. The borrower is a joint venture between Condor Cold Storage and AEW Capital Management.
Located at 7000 W. Buckeye Rd., the facility is 100% leased to Café Valley, producer of bakery products. The property was built in 2010 and features 36-foot clear heights. It comprises a combination of office, warehouse, baking, production and state-of-the-art ammonia freezer facilities.
CBRE’s Bruce Francis, Robert Ybarra, Shaun Moothart, Dana Summers, Doug Birrell and Jim Korinek facilitated the loan on behalf of the borrower.
Moothart says, “Given the uncertainty in the market and lack of capital availability today, compared with where the market was pre-Covid-19, the disparity of pricing and terms is as great as we have seen. Identifying the outlier lender is much like finding a needle in the haystack.”
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.