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Kilroy Divests Calabasas Park Centre for $78M

Calabasas Park Centre, a three-building 225,340-square-foot Class A office campus in Calabasas, CA, has traded hands. Kilroy Realty Corporation sold the 96%-leased property to a joint venture between Related Fund Management and Cruzan for $78.2 million.

The LEED Gold Certified project was developed by Kilroy in phases between 2000 and 2001. Calabasas Park Centre consists of two four-story and one two-story office buildings located in a park-like campus environment at 23925, 23975, 24025 Park Sorrento. It is adjacent to Caruso’s Commons at Calabasas, one of the region’s most prominent open-air retail centers.

NKF’s Kevin Shannon, Rob Hannan, Brunson Howard, Michael Moll and Laura Stumm represented the seller.

Shannon noted, “Calabasas Park Centre offered investors unique scale at an attractive discount to replacement cost for one of the Conejo Valley’s top office assets.”

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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.

  • ◦Sale/Acquisition