Q1 2024
WESTCORE INDUSTRY INSIGHTS
A Q&A with Westcore President & CEO Don Ankeny: Despite challenges, attractive investment opportunities are out there

Westcore President & CEO Don Ankeny recently sat down with Commercial Property Executive (CPE) to discuss the state of the industrial sector.

The industrial sector is undergoing a period of recalibration. Fundamentals are still strong, but challenges such as high interest rates and financing constraints are weighing on transaction activity and the industry overall.

CPE: How would you characterize the industrial market today? What’s driving demand?

Ankeny: Industrial fundamentals are strong. Continued growth of e-commerce, diversification of sourcing—increased onshoring and nearshoring…
Q1 TRANSACTION ROUNDUP
CALIFORNIA
Let's Hear it for Hesperia! Hesperia Commerce Center 100% Leased

Our 1,227,600 SF Westcore Hesperia Commerce Center is now fully leased to Maersk—an industry titan in shipping and logistics—as our valued tenant. 

Big thanks to the dedicated CBRE transaction team who were instrumental in this achievement: Darla Longo, Barbara Perrier, Walt Arrington, and Jeff Fritch, who represented Westcore, as well as Tres Reid and Lauren Peddicord on behalf of Maersk.
.
NEVADA
$82.5M Tahoe Reno Industrial Center Acquired

We have acquired a modern, 632,130-SF distribution center located at 700 Milan Drive in the Tahoe-Reno Industrial Center for $82.5 million. The asset is 100% leased.

Thanks to Brett Hartzell of CBRE National Partners for his representation of the seller in this transaction.

“We believe the maturing Reno industrial market has good runway for growth,” said Westcore Managing Director Peter Mette. “Part of that dynamic includes a great business climate ...s"
TEXAS
Cedar Port Park 100% Leased

We're happy to announce that our 161,145-SF industrial property situated within Cedar Port Park, Greater Houston, Texas is 100% leased! 
 
A big shout out goes to Jordan Ketchens of 3PL Bridge Realty Partners for his contributions to the leasing success, as well as Ron Ganter with Avison Young, and Ryan Byrd and Walker Barnett with Colliers International Houston.
CALIFORNIA
Cajon Construction is Complete!
Located at 6237 Cajon Blvd in San Bernardino, CA, our new 211,703 SF industrial property offers 30 dock loading doors, 36-foot clear heights, LED warehouse lighting, ESFR Sprinklers and offers convenient access to the 215 freeway, rail yards, and several airports.

For leasing information, contact Brad Yates, SIOR & Stefan Pastor, SIOR, of Stream Realty Partners.

A shout out to the pros who helped get this done:
Oltmans  Oltmans Construction
RGA  RGA Office of Architectural Design
Thienes Engineering Thienes Engineering

Hack Adams Promoted to Senior Managing Director

Please join us in congratulating Hack Adams on his well deserved promotion!

Adams' leadership and market expertise is paramount in helping grow our portfolio by $4.5BB of AUM and he has been instrumental in driving Westcore's strategic growth, spearheading expansion initiatives in key regions such as Southern California, Phoenix, Salt Lake City, Denver, Dallas and the Carolinas.

His focus on high-impact acquisitions has created significant value for our capital partners, and his commitment to collaboration fosters a culture of excellence within Westcore. We're incredibly proud of Hack's achievements and excited to see his continued contributions as we embark on the next chapter of Westcore's journey.
ICYMI: Team Events & Happenings
#PedaltheCause #WePedalForCures
#InternationalWomen'sDay #CREWomen
#HatcherOpenHouse
#AtOurCore #StudentMentoring