ENCINITAS, CALIF. — A 37,398-square-foot office building in Encinitas has sold to Westcore Properties AC, LLC for $6.8 million. It is located at 679 and 681 Encinitas Blvd. Westcore was represented by Joe Anderson and Brooks Campbell of Cassidy Turley San Diego. The seller, HBTFT LLC, was represented by Hans Strom of Strom Commercial.
SAN BERNARDINO, CALIF. — The 1.4-million-square-foot Cajon Distribution Center in San Bernardino has sold to Invesco Real Estate for an undisclosed sum. The Class A space is fully leased by Hewlett Packard. It was sold by a partnership that includes Westcore Properties, CT Realty Investors, PCCP, LLC and Behringer Harvard. CBRE’s Darla Longo and Barbara Emmons represented both the buyer and the seller in this transaction.
SAN DIEGO – Bixby Land Company has purchased a 72,205-square-foot industrial warehouse for $7,350,000. The building is currently fully leased to HD Supply Plumbing/HVAC Ltd. The seller, Westcore Properties, was represented by Cushman & Wakefield's Steve Rowland, Michael Roberts, Jeff Brown and Mickey Morera.
SAN BERNARDINO, CALIF. — A joint venture between Behringer Harvard, CT Realty Investors, Westcore Properties and Pacific Coast Capital Partners has invested in El Cajon Distribution Center in San Bernardino. El Cajon consists of two buildings totaling 1.4 million square feet. The property is located on 63 acres at 7010 and 7140 N. Cajon Blvd. The distribution center provides direct access to interstates 15 and 215. It is also approximately 50 miles away from the Los Angeles area's intermodal rail yards and ports. Behringer Harvard made its investment in the property on behalf of Behringer Harvard Opportunity REIT II. In a statement, Behringer Harvard Chief Administrative Officer Jason Mattox said, “Delivered as the economic downturn took hold of the California and national economies, both buildings at El Cajon Distribution Center have never been occupied. However, these buildings have the attributes that most demanding industrial tenants desire. Given the growing interest industrial buildings of this caliber are seeing from the user community, as the economy begins to improve, we believe that the potential for tenanting the buildings is strong.” Details regarding the transaction were not disclosed. — Coleman Wood
SAN BERNARDINO, CALIF. — A joint venture has acquired the 1.4 million-square-foot Cajon Distribution Center located at 7010 and 7140 North Cajon Blvd. in San Bernardino. Terms of the transaction were not disclosed. Built in 2008, the Class A industrial center is a two-building, cross-dock property located on a 63-acre site in Southern California’s Inland Empire market. CB Richard Ellis’ Darla Longo and Peter McWilliams and Jones Lang LaSalle’s Mike McCrary represented the unnamed institutional seller in the transaction. The joint venture consists of San Diego-based Westcore Properties, Aliso Viejo, Calif.-based CT Realty Investors, PCCP LLC and Behringer Harvard.
SAN DIEGO — San Diego-based Westcore Properties has completed the disposition of retail movie theatre properties to Knoxville, Tenn.-based Regal Entertainment Group for $29.14 million. The assets include UA Berkeley, a seven-stadium, 21,895-square-foot movie theatre located at 227 Hattuck Ave. in Berkeley, Calif.; UA Haggerty, a 14-stadium, 57,822-square-foot movie theatre at 3033 Springvale Drive in Walled Lake, Mich.; and Snowden Square, a 14-stadium, 58,250-square-foot theatre located at 9161 Commerce Centre in Columbia, Md. Westcore Properties originally acquired the properties in 2003.
SPRING VALLEY, CALIF. — Westcore Properties’ entities, Gladstone LLC and West Palm Blackpoint Associates LP, have completed the disposition of Sweetwater Village Shopping Center, which is located at 3505-3515 Sweetwater Springs Blvd. in Spring Valley. Attiq Investments LLC acquired the two-story, 43,400-square-foot property for $6.2 million. Attiq, a food distributor, plans to occupy the 28,000-square-foot vacant anchor space. Pete Bethea, John Jennings and David Bradley of Cushman & Wakefield represented the sellers; Brad Ihde of USA Realty & Loans represented the buyer in the transaction.
SAN DIEGO — ATTIQ Investments LLC has acquired Sweetwater Village, a 43,400-square-foot retail center located at 3505-3515 Sweetwater Springs Blvd. in San Diego’s Spring Valley area. Gladstone LLC and West Palm Blackpoint Associates LP, dba Westcore Properties, sold the asset for $6.2 million. The new owner will occupy a 28,000-square-foot space, which was formerly occupied by Frog’s Club One. The center is currently leased to a variety of tenants, including Help-U-Sell, Baskin Robbins, Nail Express and Shear Talent Salon. Brad Ihde of USA Realty and Loans represented the buyer; Pete Bethea, John Jennings and David Bradley of Cushman & Wakefield represented the seller in the transaction.
SAN DIEGO — Pacific Sorrento LLC has purchased Mira Oberlin Plaza, a 77,309-square-foot office building in San Diego. Westcore Oberlin LLC, an entity of Westcore Properties, sold the building for $24.9 million. The facility is located at 5880 Oberlin Dr. in the Sorrento Mesa area of San Diego. Fouy Ly of Sperry Van Ness’ Irvine, Calif., office represented the buyer; Westcore was self-represented in the transaction.
CHARLOTTE, N.C. — Westcore Charlotte, a subsidiary of Westcore Properties, has acquired a 455,750-square-foot manufacturing building in Charlotte, from Flextronics International, for $25 million. The facility is situated on 51 acres at 6800 Solectron Dr. Dan Hollingsworth and Steve Pace of CPS/CORFAC International represented both the buyer and seller in the transaction. Flextronics will continue to occupy the building.