High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + San Diego  + Retail  | 

Faris Lee Handles $25M Escondido Retail Sale

Faris Lee Investments completed the $24.8-million sale of Gateway Center, an 89,625-square-foot retail center in Escondido, CA. The seller was a partnership led by GDA Real Estate Services, while the buyer was a private San Diego County-based investor. The transaction closed at a cap rate of 6.5%.

The 95%-leased property was built in 2003, and situated on 7.1 acres at 810-860 W. Valley Pkwy. Anchor tenants include Michaels and Barnes & Noble.

Faris Lee’s Rick Chichester, Donald MacLellan, Patrick Toomey and Tom Chichester represented the seller. Faris Lee’s Gene Ventura and Jeff Conover represented the buyer.

Faris Lee’s Rick Chichester says the strategy of securing early lease renewals with anchor tenants helped “maximize buyer interest and value,” as well as being “instrumental in further stabilizing the center, generating multiple offers, and ultimately facilitating the sale and its financing in a relatively compressed timeframe.”

Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Faris Lee’s Chichester

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
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action