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California  + Inland Empire  + Industrial  | 

Penwood, Shaw Sell San Bernardino Industrial Facility to Global Manufacturer

A partnership between Hartford, CT-based Penwood Select Industrial Partners III, L.P., and Newport Beach, CA-based Shaw Development Partners, LLC divested a newly-developed 154,451-square-foot industrial warehouse building in San Bernardino, CA for $18.23 million. The buyer was an unnamed global consumer products company, which plans to use the property for its own operational and distribution needs.

Voit Real Estate Services’ Frank Geraci, Juan Gutierrez and Adam Geiger represented the seller.

Geraci says, “The development of this property was exceptionally well-timed in this highly-competitive industrial market.”

Voit represented the development partnership in the 2015 acquisition of the property, which consisted of a vacant 197,000 square-foot industrial manufacturing building on 7.59 acres, together with an adjacent 7.12-acre parcel of vacant land where the new building at 2705 Lexington Ave. was entitled and developed.

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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.