COMMERCE AND BUENA PARK, CALIF. — Dune-Westcore GBP, a partnership between Westcore and Dune Real Estate Fund II, has purchased a 760,000-square-foot industrial portfolio in Commerce and Buena Park for an undisclosed price.
According to a statement, Westcore Partner Steve Bollert said, “this acquisition was a unique opportunity for Westcore to add to its existing portfolio of industrial properties in urban infill locations. [The company] is continuing to acquire well-positioned assets throughout the western United States, where it believes significant value can be obtained through intensive management and operation of the properties.”
The portfolio consists of The Garfield Business Center, a 545,299-square-foot warehouse business park located at 3300-3430 Garfield Ave. in Commerce, and The Commerce Centre at Buena Park, a 224,600-square-foot cold storage industrial park located at 6535 and 6625 Caballero Blvd. in Buena Park. The assets are 98 percent occupied by 18 tenants, including Hilti, US Healthworks, JAM-N-Logistics, Malarkey Roofing, Golden Orchid, ENL Global, Legacy Farms, Fresh Food Concepts and Blue Line Foodservice Distribution.
The seller was Prudential Real Estate Investors acting on behalf of institutional investors.
— Amy Bigley