California + San Diego + Office | February 13, 2019

IDS, Lionstone Venture Picks Up Liberty Station Offices for $77M

McMillin Companies divested four Class A office buildings totaling 181,171 square feet within the 360-acre Liberty Station mixed-use development in San Diego. A partnership of locally- based IDS Real Estate Group and Lionstone Investments acquired the assets for $76.8 million.

The transaction comprises four separate assets located at 2280, 2468 and 2488 Historic Decatur Rd., and 2750 Womble Rd. The buildings were completed between 2003 and 2006, and are 81.1% leased overall.

HFF’s Nick Psyllos and Kara Mathis represented the seller. Additionally, working on behalf of Lionstone, HFF’s Tim Wright and Chris Collins placed a 72-month, $58.9-million, floating-rate acquisition loan with Suntrust Bank.

McMillin acquired the property in 2000 as a former naval base-turned neighborhood. Liberty Station includes 349 residential units; 347 hotel rooms (with an additional 650 hotel rooms under construction or proposed); nearly 400,000 square feet of office space; more than 30 food and beverage establishments; and 40 shopping and retail stores.

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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.