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California  + San Diego  + Office  | 

Multi-Tenant Office Asset in Central San Diego Sells for $18M

San Diego-based Cal-Sorrento LTD acquired a recently-renovated, two-story building situated on 4.85 acres in San Diego from Palisades Property Trust for $17.9 million. The fully-leased 61,227-square-foot multi-tenant office building is located at 12230 World Trade Dr. in Rancho Bernardo.

Cushman & Wakefield’s Jeffrey Cole, Rick Reeder, Ed Hernandez, Brad Tecca, and Nico Napolitano represented the seller. Cal-Sorrento’s Sam Higgins handled the buyer’s side.

“12230 World Trade is a well-maintained, institutional quality asset positioned along the Southern California coast, located in close proximity to numerous amenities, including two large retail centers, and housing,” said Cole. “The property is 100% leased to four tenants, providing secure tenancies and strong in-place revenue. The tenancy is characterized by primarily technology and healthcare focused companies.”

Cole added, “Originally developed in 1989 and renovated in 2016, the property reflects a newer vintage asset with attractive recently-renovated lobbies, common areas, and entryways.”

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With Cal-Sorrento LTD’s HigginsConnect With Palisades Property TrustConnect With Cushman & Wakefield’s Cole

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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