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California  + Los Angeles  + Retail  | 

Lennar Buys Arcadia Retail Site, Envisions Resi Conversion

Lennar Homes acquired an aging retail shopping center in Arcadia from Seal Beach, CA-based The Olson Company with plans to convert the site into a mixed-use development. The seller delivered a fully-graded property, with an approved tentative tract map, improvement plans and architectural construction drawings for $36.6 million.

Lennar envisions building 80 units, including detached homes, two-and three-story townhomes and live/work lofts priced in the high $800,000s and $900,000s for attached units, and low millions for single-family detached homes. The community will offer 12 two-story detached condominiums, 44 three-story attached townhomes, 21 two-story attached townhomes and three three-story live/work attached townhomes, as well as a retail component.

The Hoffman Company’s Justin Esayian, who brokered the deal, says, “This transaction represents a rare opportunity to achieve early 2020 deliveries in a highly desirable infill location in the supply-constrained San Gabriel Valley, where listing prices have increased 14% year over year.”

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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.

  • ◦Development
  • ◦Sale/Acquisition
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