Westcore Properties Q4 Acquisition & Dispo Round Up

WHAT'S NEWS AT WESTCORE PROPERTIES - Q4 2018

Hot Property: Recent Sorrento Valley Acquisition Sparks Significant Tenant Interest

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Sorrento Valley's central location and proximity to executive and workforce housing make it one of the most sought after markets in the county.

We're excited to announce our recent acquisition of 6.64 acres of land along Sorrento Valley Road at Industrial Court in San Diego, CA. Zoned for light industrial, office or commercial uses, we acquired the land from Caltrans and are working to entitle the land for development of build-to-suit corporate facilities and/or speculative, light industrial buildings ranging in size from 30,000 to 45,000 square feet.

Big thanks to Dean Asaro of Cushman & Wakefield who represented Westcore in the transaction.

Cleared for Takeoff: March Air Logistics Center Sold to Crow Holdings

Our 277,270SF March Air Logistics Center, an air cargo and industrial facility at the March Inland Port, was recently sold to Texas-based Crow Holdings Industrial in an off-market transaction.

Located in Riverside, CA, the center has runway access to March Inland Port, as well as to one 1M SF of ramp area for aircraft taxiway and parking. We purchased the property in 2014 for $17MM.

Big thanks to Jim Koenig, David Consani and Katrin Gist of CBRE who represented Westcore in the transaction.

Done Deals: Q4 Acquisition Round Up

$13.8 MM Moorpark Acquisition Offers Additional Industrial Dev Opportunities

We recently acquired a 114,556SF light-industrial building at 6100 Condor Drive in Moorpark, CA from Ventura-based Marcus Adams Capital, LLC for $13.8 MM.

Thanks to Ryan Plummer and Bret Hardy of Newmark Knight Frank who represented the buyer in this transaction.

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Strength of Central Valley's Industrial Market Spurs $53.7 MM Acquisition of Patterson Pacific Distribution Center

The Class A, 712,130SF Pacific Distribution Center in Patterson, CA was recently added to our Portfolio. We acquired the property from Raleigh, North Carolina-based Keystone Corporation.

Thanks to Michael Goldstein and Ryan McShane of Colliers International who represented Keystone Corporation in the transaction.