Orange County Investor Buys Riverside Office Portfolio for $44M
Laguna Beach, CA-based Dornin Investment Group acquired a two-property, 223,711-square-foot office portfolio in Riverside, CA for $44.25 million. The seller of the five-building Market Street Corporate Center and Riverside Gateway I & II was a partnership between CarVal Investors and EverWest Real Estate Investors.
Dornin’s Andrew Kurzeka says, “This was an attractive acquisition for us, given the going in cap rate, credit tenancy, building quality, separate parcels, and rental rate buffer versus the core downtown Class A assets.”
Market Street Corporate Center is situated on 7.01 acres at 2190, 2280 and 2300 Market St. The three buildings, built between 2005 and 2006, total 133,557 square feet and are 78% occupied.
Riverside Gateway I & II is situated on 4.96 acres at 3480 and 3550 Vine St. The two buildings total 90,154 square feet and are 94% occupied.
NKF’s Kevin Shannon, Brunson Howard, Ken White, Paul Jones, and Rick Stumm, represented the seller. The buyer was self-represented.
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 integrated marketing communications roles. He is responsible for Connect’s client content operations and public relations strategy. He is involved in a range of initiatives ranging from content strategy, message development, copywriting, Social Media and content marketing services.
Dennis’s communications background in the real estate industry includes working with many of the top real estate firms – from brokerage companies, developers, homebuilders, investors, owners, lawyers, asset advisors, lenders, architects and property management firms.
• Marketed more than 1 Billion Square Feet of Office Space
• 70,000 Multifamily/Condo Units
• 15,000 Single Family Homes
• 30 Million Square Feet of Retail Space
• Representing Roughly $100 Billion in Investment
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.
Dennis’s agency background on integrated communications teams at many reputable agencies and has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. He formerly was President of the Public Relations Society of America’s Los Angeles of public relations professional, and served on the Board of Directors. He also taught a public relations extension course at Loyola Marymount University.
Dennis’s 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.