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California  + Los Angeles  + Office  | 

Colony Capital, SteelWave Sell TOaks Campus to TriStar

A venture between Colony Capital, Inc. and SteelWave divested a 158,885-square-foot office campus in Thousand Oaks for $21.56 million to TriStar Realty Group. The asset at 225 W. Hillcrest Dr. is 74% leased to Bank of America until December 2020.

Built in 1983 and renovated in 2007, the Class A, five-story property was originally built for Exxon’s regional corporate headquarters. The new ownership, which has over 30 years of experience in ground-up medical, build-to-suit and retail development, is planning to extensively renovate the campus to appeal to medical office users.

CBRE’s John LaSpada represented the buyer. NKF’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Sean Fulp, Ryan Plummer and Mark Schuessler advised the seller.

Stumm says, “This asset presents value-add capital and the unique opportunity to reposition the entire building. 225 W. Hillcrest Drive’s underutilized 14.7-acre site provides the investor with significant optionality to enhance parking and the site overall, at a relatively attractive price-per-square-foot.”

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.

  • ◦Sale/Acquisition
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