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California  + Inland Empire  + Retail  | 

Passco Picks Up Corona Value-Add Retail Center

Irvine, CA-based Passco Companies acquired Temescal Village, a 102,976 square-foot neighborhood shopping center in Corona, CA from an undisclosed private investor for $16.95 million.

Passco Companies’ Todd Siegel says of the value-add retail asset, “Shoppers today are demanding environments where they can gather and socialize with friends and family. We plan to integrate these social components into the center by incorporating more outdoor seating and gathering spaces for shoppers.”

Located at 1181 to 1199 Magnolia Ave. and built in 1983, Passco plans to modernize the 93.5% leased property through a series of strategic renovations and capital improvements. Those include redesigning the landscaping and updating the center’s façade, as well as adding a variety of social gathering, outdoor dining, and seating areas throughout the center.

Cushman & Wakefield’s Dixie Walker and Charley Simpson represented the seller. The buyer was self-represented.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read more at Cushman & WakefieldConnect With Passco Companies’ SiegelConnect With C&W’s Walker

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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