KKR Cuts Deal with CRG for Wholesale Grocers-Leased Property in Portland
KKR acquired The Cubes at Troutdale, a 350,000-square-foot speculative industrial facility located in the Troutdale Reynolds Industrial Park on Portland’s east side. CRG, the development and investment arm of Chicago-based Clayco, sold the asset for an undisclosed amount.
The facility, which includes a 76,000-square-foot cooler space, was leased to C&S Wholesale Grocers, and is expected to create 300 new jobs.
CRG led the development in a JV with U.S. Logistics Fund 1. Vertical construction began in February 2019 and the building reached substantial completion earlier this year.
The site is located along Interstate 84 at 2503 NW Sundial Rd. It has 36-foot clear heights, cross dock capability, ample trailer storage and car parking associated with new state-of-the-art industrial distribution centers.
CBRE’s Darla Longo, Paige Morgan and Brett Hartzell represented CRG and USLF I in the sale. NKF’s Steve Willhite, SIOR and Patrick Ulch, CCIM represented the tenant in the lease.
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.