PS Business Parks Nets $73M in Santa Ana Office Deal
Glendale, CA-based PS Business Parks, Inc. divested Orange County Business Center (OCBC), a five-building, nearly 440,000-square-foot office campus in Santa Ana, CA to an undisclosed party. The 25-acre campus was 84.9% occupied at the time of sale.
Net proceeds from the sale, after transaction costs, were roughly $73.3 million.
Orange County Business Center is located off the 55 freeway at 1221 to 1261 E. Dyer Rd. in an Enterprise Zone offering tax incentives, and is minutes from John Wayne Airport and Irvine Business Complex. The property has a community beach volleyball area, on-site parking and fiber-optic ready suites.
After closing on the sale, PS Business Parks reports it has 107,000 square feet remaining of the 705,000 square feet of office product in Orange County, previously disclosed as held for sale.
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.
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