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California  + Inland Empire  + Industrial  | 

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.

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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 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.

  • ◦Financing
  • ◦Sale/Acquisition