A joint venture between Hill Properties and a fund managed by DRA Advisors, LLC acquired 1450 Frazee, a 140,477-square-foot, institutional-quality office building in San Diego’s Mission Valley, from Menlo Equities Inc. for $33.05 million.
The a seven-story office building is adjacent to State Route 163 at Friars Road, and is currently 90.6% leased to 27 tenants. Two strong credit tenants, UC San Diego and ADP, occupy more than 40% of the leasable space.
JLL Capital Markets’ Lynn LaChapelle, Bob Prendergast and Sach Kirpalani led the sales team.
“Menlo’s attention to detail and its focus on providing a quality office environment appealed to an impressive array of tenants. Institutional investors were attracted to the quality of the rent roll, combined and with the asset’s strategic location in San Diego’s largest submarket,” said Prendergast.
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.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!