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California  + Los Angeles  + Office  | 

Rising, GreenOak JV Snags Iconic CalEdison in DTLA

Rising Realty Partners and GreenOak Real Estate Advisors bought The CalEdison, an iconic 287,615-square-foot, 14-story office building in DTLA from Hermes Investment Management and Lionstone Investments for reportedly in the neighborhood of $140 million.

The 14-story, LEED Platinum building is located at at 601 W. 5th St., near Grand Central Market, The Broad, several Class A hotels and The Grand master-planned lifestyle development. Built in 1931 as the headquarters for  Southern California Edison Company, the building has 30-foot coffered lobby ceilings and highly-detailed Art Deco marble and tile finishes.

JLL’s Steve Collins, Paul Spellman and Tom Bohlinger led the team handling the sale.

Bohlinger says, “This historic building is in one of the most prominent locations in DTLA, and is close to two major transit hubs. In addition to its excellent location, it is one of the finest examples of Art Deco architecture in the area.”

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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.

  • ◦Sale/Acquisition
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