PGIM Delivers $66M for 1M-SF Riverside Industrial Acquisition
PGIM Real Estate arranged $66 million in acquisition financing for a one-million-square-foot industrial facility in Riverside. The fixed-rate loan was arranged on behalf of a borrower advised by TA Realty and carries an eight-year term.
Located at 6275 Lance Dr., the Class A industrial property spans 47 acres and is fully-leased to an unnamed investment-grade tenant in the health care industry through a 10.5-year NNN lease. The property features 36-foot clear heights, truck courts ranging from 140 to 185 feet in depth, and 147 cross-dock high doors.
PGIM Real Estate’s Brett Ulrich, who led the transaction on the firm’s behalf, says, “The successful execution of this transaction within an uncertain economic environment is a testament to the strength of the asset, which has a long-term lease with a credit tenant and is situated in one of the most desirable industrial submarkets in the country.”
The financing was brokered by a team led by CBRE’s Val Achtemeier.
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.