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California  + Orange County  + Industrial  | 

Penwood Picks Up Garden Grove Warehouse for $27M

Monarch Industrial, a multi-tenant, 276,585-square-foot warehouse facility located in Garden Grove, CA has traded hands. Hartford, CT-based Penwood Real Estate and Western Realco acquired the asset from Los Angeles-based Colony Northstar for $27 million.

NKF’s Kevin Shannon, Scott Schumacher Bret Hardy and Jeff Read represented the seller. The buyers were self-represented.

Hardy says, “Industrial investment offerings such as Monarch are scarce, as both institutional and private investors seek to increase their allocations in the sector while typically retaining ownership for the long-term.”

Monarch Industrial is located at 12752 to 12822 Monarch St., just off Garden Grove Boulevard and the 22 freeway. The property is fully occupied by four tenants, including Virtu USA, New Mode Sportswear, V Factory and Riviera Beverages.

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About Dennis Kaiser

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.

  • ◦Sale/Acquisition
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