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California  + Los Angeles  + Retail  | 

Savills Studley Brokers $54M Retail Sale

Savills Studley negotiated the $54.1-million sale of The Terraces, a 172,913-square-foot regional shopping center in Rancho Palos Verdes, CA. The property was acquired by a subsidiary of San Diego-based Retail Opportunity Investments Corporation (ROIC), a publically traded REIT. The seller was Terraces Subsidiary, LLC, a joint-venture of Combined Properties and Saban Capital Group, Inc.

Built in 1959, and renovated three times (the most recent last year), The Terraces is located at 28821 to 28901 South Western Ave. It is situated along the Western Avenue Retail Corridor, the market’s primary thoroughfare, serving the communities on the Palos Verdes Peninsula.

The 89%-leased center features three terraced levels of shopping, and has such notable tenants as Trader Joes, Marshalls, LA Fitness and Starlight Cinemas.

Savills Studley’s Bill Bauman and Kyle Miller handled the transaction on behalf of the seller and buyer.

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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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