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California  + Los Angeles  + Office  | 

Cress Capital Snags $90M Portfolio in Cerritos

Newport Beach, CA-based Cress Capital acquired five Class A office buildings totaling 461,920 square feet in Cerritos, CA for $89.5 million. Built between 1989 and 1998, the portfolio includes two seven-story buildings and three two-story buildings, which are 88% occupied by 45 tenants.

“The acquisition of these Class A buildings aligns with one of our core investment strategies,” said Cress’ Tom Parnell. “We believe highly-amenitized and well-located suburban office assets will produce superior returns over the long term.”

Eastdil Secured’s Adam Edwards and K.C. Scheipe represented the seller, reportedly Iowa-based Principal Real Estate Investors. The buyer was self-represented.

The properties are part of the 125-acre Cerritos Towne Center mixed-use development and include:

  • 12610 Park Plaza Dr., two stories, 52,000 square feet
  • 12750 Center Court Dr., seven stories, 140,000 square feet
  • 17785 Center Court Dr., seven stories, 143,000 square feet
  • 12898 Towne Center Dr., two stories, 40,000 square feet
  • 17871 Park Plaza Dr., two stories, 49,000 square feet

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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