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California  + Orange County  + Retail  | 

Costa Mesa’s The Triangle Trades for $56M

An Orange County-based partnership led by Greenlaw Partners divested The Triangle, a 204,523-square-foot coastal dining and entertainment lifestyle center in Costa Mesa, CA. Westwood-based Unimat Commercial Inc., a Los Angeles-based family office syndicate, paid $55.7 million, representing a high 6% cap rate.

CBRE National Retail Partners West’s Philip D. Voorhees, Jimmy Slusher, Kirk Brummer, Megan Wood, Preston Fetrow, Matt Burson and John Read represented the seller.

Voorhees says, “In terms of location, visibility and traffic counts, The Triangle is unrivaled in Orange County.”

The asset is anchored by a collection of restaurants led by Yard House, Time Nightclub, a flagship 24 Hour Fitness, Tavern & Bowl, and a nine-screen Triangle Cinemas. The property was approximately 94% occupied at the time of sale.

Built in 1992-1993, with an extensive remodel completed in 2012-2013, The Triangle is a wholly-owned, 4.68-acre site situated at the base of the 55 freeway.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Unimat Commercial Inc.Connect With Greenlaw PartnersConnect With CBRE’s Voorhees

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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