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California  + Office  | 

Landmark PCH Asset in Long Beach Acquired for $26M

Anaheim, CA-based Milan Capital Management acquired Park Tower, an 119,517-square-foot seven-story Class A office tower in Long Beach, CA for a reported $26 million. The asset was purchased from from Park Tower, LLC, an entity controlled by Investcorp.

Located at 5150 Pacific Coast Highway, Park Tower provides an upscale image and identity in an urban office environment, and features many walkable amenities and subterranean parking. The property boasts a diverse tenant profile, and is 93% occupied to 20 tenants including Childnet, Argus Medical Management and Omya/Lipscomb Chemical.

Cushman & Wakefield’s investment specialists Jeffrey Cole, Ed Hernandez and Nico Napolitano handled the sale transaction, along with C&W local market experts Robert Garey, Bob Alperin and Kimball Wasick.

For comments, questions or concerns, please contact Dennis Kaiser

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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
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