California | January 3, 2017

CIM Group Acquires SF Asset for $123M

Los Angeles-based CIM Group acquired 55 Hawthorne, a 143,000-square-foot office building in San Francisco for $123 million. The asset was sold by a partnership between Atlanta-based Invesco Real Estate and Emeryville-based Harvest Properties, which had acquired the property for $77 million in 2014.

The transaction included the 11-story office building, as well as a five-level, 348-space parking garage. The asset was renovated prior to the sale.

Yelp leases 102,324 square feet at the property, and has an option to expand by another 34,000 square feet by 2018. Other tenants in the 100% leased building include Dell and the Greater Bay Area Make-A-Wish Foundation.

JLL’s Erik Hanson, Rob Hielscher and Michel Seifer handled the sales listing.

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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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