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Principal Real Estate Investors, SteelWave Snag Sunnyvale Development Site

A joint-venture between Principal Real Estate Investors and SteelWave, LLC purchased 285 Sobrante Avenue in Sunnyvale, CA and plan to develop a 125,000-square-foot Class A office building. The Central Station project is planned for LEED Gold and will incorporate floor-to-ceiling glass, large floor plates, balconies, multiple patios, a lobby bar, and outdoor amenities, including a BBQ and bar area, fire pits and outdoor games.

SteelWave’s Steve Dunn says, “Companies continue to compete fiercely for the best talent, and the easy access to Caltrain and downtown amenities allows a company to significantly extend their reach for high-demand workers, a genuine competitive advantage in these conditions.”

Currently, two multi-tenant industrial buildings sit on the property. The project is slated to deliver in Q4 2020. The site is near the Sunnyvale Caltrain Station, and offers access to multiple freeways, restaurants, hotels and housing. An adjacent parcel could also accommodate an additional 135,000 square feet of office space.


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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.

  • ◦Development
  • ◦Sale/Acquisition
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