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California  + Bay Area  + Retail  | 

KKR Claims Palo Alto MXU from Blox, Angelo Gordon for $104M

New York-based KKR & Co. Inc. acquired First Republic Center in Palo Alto’s College Terrace for reportedly $103.6 million in an off-market, direct deal. The 77,191-square-foot mixed-use property at 2100 El Camino was sold by a partnership between Silicon Valley-based Blox Ventures, LLC and New York’s Angelo Gordon.

Blox and Angelo Gordon had acquired the property in July 2018 for roughly $78.3 million. The partnership completed lease-up, including the regional hub for First Republic in Silicon Valley, which anchors 76% of the building. Other leases include Real Produce International Market, a specialty grocer, and a music group, in the 11,000-square-foot retail space.

The 100%-leased asset is now established as one of the few properties in Palo Alto’s retail core that occupy a full city block. The property benefits from its proximity to the area’s key innovation centers, is adjacent to Stanford University, and less than half of a mile to a Caltrain rail station.

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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