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California  + Orange County  + Office  | 

Kelemen Buys Irvine Asset for $107M from Barings

The Atrium, a 302,877-square-foot, 10-story trophy office property in Irvine, CA, has traded hands for $106.75 million. The seller was Barings Real Estate, part of Barings LLC, acting on behalf of institutional investors. The buyer was Irvine, CA-based Kelemen Company.

Located on 6.12 acres at 19100 and 19200 Von Karman Ave., the 90%-leased property was built in 1986 and underwent an extensive renovation in 2015. The $5.3-million capital improvement program included upgrades to an enclosed 10-story atrium lobby, common areas, exterior courtyards, restrooms and elevator cabs and lobbies.

NKF Capital Markets’ Kevin Shannon, Paul Jones, Ken White, Brunson Howard and Blake Bokosky represented the seller. The buyer was self-represented.

Jones says, “The Atrium was an excellent market-to-market opportunity in a uniquely designed building attracting both traditional and creative tenants. The new ownership is planning an extensive interior and exterior renovation, which will further push market rents at the property.”

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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