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California  + Inland Empire  + Retail  | 

SRS Completes Sale of Newly-Constructed Cucamonga Retail Center

Spruce Plaza, a newly-constructed, fully leased retail center in Rancho Cucamonga, CA has been sold for $15.625 million. The 100%-leased Class A property encompasses 15,555 square feet of space, comprised of two separate parcels, achieved a cap rate of 5.32%, and a $1,005-per-square-foot price.

SRS National Net Lease Group’s Matthew Mousavi and Patrick Luther, along with SRS’ Garrett Colburn represented the seller and developer of Spruce Plaza, Costanzo Investments, LLC, a SoCal-based development company.  The buyer, a Bay Area family trust, was represented by Borelli Investment Company’s Ralph Borelli and Caleb Scherer.

Located at 10877-10895 East Foothill Blvd, in the master-planned community of Terra Vista, Spruce Plaza is fully occupied by Blaza Pizza, Tokyo Joe’s, Luna Grill, Jersey Mike’s, Café Rio and Habit Burger.

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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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