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Tribune, Kearny Divest “The Press” to SteelWave for $65M

Tribune Real Estate Holdings and Los Angeles-based Kearny Real Estate sold The Press, a 24-acre property in Costa Mesa, CA to a joint venture that includes Foster City, CA-based SteelWave, LLC for roughly $65 million. Until its closing in 2010, the 300,000-square-foot building was used by the Los Angeles Times and three of its community newspapers as a printing plant, distribution facility and office.

Subsequently, Kearny Real Estate worked with the city of Costa Mesa on a $100-million adaptive-reuse plan to re-entitle and redevelop the commercial real estate property at 1350 South Coast Dr. into a creative work environment. The 50-foot tall steel frame building features high-volume tenant spaces with tiered mezzanine levels. The plan also includes more than three acres of outdoor amenities, and a 20,000-square-foot raised patio.

Cushman Wakefield’s Rick Kaplan and Rob Lambert represented the sellers.

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Connect With Kearny’s Jeff DritleyConnect With SteelWaveConnect With Cushman Wakefield’s Kaplan

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.

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