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California  + San Diego  + Office  | 

Rancho Bernardo Creative Office Trades for $22M

Avison Young brokered the $21.5-million acquisition of a two-story, 68,489-square-foot creative office building located in San Diego’s Rancho Bernardo submarket. Avison Young’s Alan Pekarcik and Chris Smith, along with Marcus & Millichap’s Martin Cohan, represented the buyer, an undisclosed private investor. Colliers International’s Rick Putnam and Michael Roberts (now with HFF) represented the seller, 15255 Innovation Drive LLC.

Built in 1986 as a corporate office facility, the fully-occupied building was renovated in 2015 as creative office space. The multi-tenant class A property is situated on nearly four acres at 15255 Innovation Dr.

Pekarcik says, “The Avison Young team identified this unique opportunity for the buyer as the upleg to a timely 1031 requirement. The property’s stable tenant base, recent renovations and excellent cap rate of 7.25% going in made it an extremely attractive office property for a long-term investment in what is San Diego’s top-performing office submarket.”

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Avison Young’s PekarcikConnect With Marcus & Millichap’s CohanConnect With Colliers’ Putnam

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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