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Kilroy Divests San Diego Holdings for $175M

Vancouver, B.C.-based City Office REIT Inc. acquired a 10-building office portfolio in San Diego from Los Angeles-based Kilroy Realty Corp. for roughly $174.5 million. The assets total nearly 670,000 square feet, and are located in Mission Valley and Sorrento Mesa.

The deal includes the four-building Mission City Corporate Center (pictured) on Northside Drive in Mission Valley, as well as six buildings and a five-acre land parcel on Pacific Center Court in Sorrento Mesa’s Pacific Corporate Center.

The 88%-leased Mission City Corporate Center is located near SDCCU Stadium (formerly Qualcomm Stadium). The Sorrento Mesa assets are also 88% leased. The properties were all built in the 1980s and 1990s, with some undergoing renovations in the ensuing years.

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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.