RIVERSIDE, CALIF. – Westcore Properties has acquired a 260,000-square-foot ground and air industrial facility at March Air Reserve Base near Riverside for an undisclosed sum. The facility is located at 17101 Heacock Street. The property is currently occupied by AMRO Fabricating Corporation and Ross Dress for Less. HFF’s Anthony Brent, Ryan Martin and Jeremy Womack represented both the buyer and seller, a joint venture between Marhub, LLC and Global Port Ramp Services, in this transaction.
CLEVELAND — Westcore Proprieties has sold a historic, Class C office building in downtown Cleveland for $6 million to Millennia Cos., an apartment developer and property manager. The 11-story, 160,000-square-foot Garfield Building, a masonry and steel-frame building, is located at 1965 E. Sixth St., on the corner of Euclid Avenue and East Sixth Street. Originally built in 1893, the building is the former home of National City/ PNC Bank. Westcore Properties purchased the property in 2008. Millennia Cos. plans to develop the building into multifamily rental housing. Eliot Kijewski and Rico Pietro with CRESCO Real Estate, a member of the Cushman & Wakefield Alliance, represented Westcore Proprieties in the transaction. Allegro Reality represented Millennia Cos.
SUNNYVALE, CALIF. — Westcore Properties has acquired a 165,497-square-foot property in Sunnyvale for $52.7 million. The property is located at 1390 and 1400 Kifer Road. The acquisition includes a three-story office building and a single-story data center. The vacant office building will undergo a major renovation, including a new outdoor tenant area, refreshed landscaping, and new finishes to the lobby and interior. The data center is occupied by CenturyLink. The property is less than a mile from CalTrain. The seller, WTA Development, was represented by DTZ’s Steve Horton and Kelly Yoder, and by CBRE’s Joe Moriarty and Brad Zampa. DTZ will also handle the leasing assignment.
SACRAMENTO, CALIF. – A joint venture between Westcore Properties and a fund managed by DRA Advisors LLC has purchased an 11.1-million-square-foot industrial portfolio for $600 million. The 110-building portfolio is composed of 8 million square feet in Sacramento, along with nearly 3 million square feet throughout the Midwest. According to Jones Lang LaSalle, this was California’s largest industrial acquisition in 2012. It was also the second largest industrial acquisition in the U.S. over the same period. Mark Demetre, Bill Niethammer, Matt Lofrano and Mike Zimmermanof the firm’s Sacramento office represented both the buyer and the seller, JB Properties, in this transaction.
SACRAMENTO, CALIF. – A joint venture between Westcore Properties and a fund managed by DRA Advisors LLC has purchased an 11.1-million-square-foot industrial portfolio for $600 million. The 110-building portfolio is composed of 8 million square feet in Sacramento, along with nearly 3 million square feet throughout the Midwest. According to Jones Lang LaSalle, this was California’s largest industrial acquisition in 2012. It was also the second largest industrial acquisition in the U.S. over the same period. Mark Demetre, Bill Niethammer, Matt Lofrano and Mike Zimmermanof the firm’s Sacramento office represented both the buyer and the seller, JB Properties, in this transaction.
ENCINITAS, CALIF. — Westcore Properties has purchased a 37,398-square-foot office building in Encinitas for $6.8 million. The building is fully leased to tenants like Scripps Health and St. Katherine’s College. Westcore was represented by Joe Anderson and Rick Reeder of Cassidy Turley. The seller, HBTFT, LLC, was represented by Strom Commercial.
CONCORD, CALIF. — WestcoreProperties has purchased the Concord Corporate Centre in Concord for an undisclosed sum. The Class A office campus contains 346,747 square feet located at 1320 and 1390 Willow Pass Road in Concord. The facility was originally built in 1984 and renovated in 2002. Westcore was represented by Ryan Huddlestun and Jim Blessing of Waveland Financial. Tom Fehr of Cornish and Carey Commercial will continue to be responsible for leasing at the property.
CATHEDRAL CITY, CALIF. — Marc Brutten, chairman and founder of Westcore Properties, has purchased the 72,756-square-foot Mission Plaza Shopping Center in Cathedral City for $3,174,000. The distressed retail center will be managed by Westcore Properties. It consists of one free-standing pad and one vacant pad, which are situated on 7.178 acres. Mission Plaza is currently 27 percent leased. Brutten, dba WH Mission Plaza, LLC, represented himself in this transaction. The seller, CW Capital, was represented by CBRE’s Maggie Montez.
VISALIA, CALIF. — Westcore Properties has purchased West Ferguson, a two-building industrial property totaling 280,290 square feet in Visalia, for $7.95 million. This is the fifth industrial park Westcore has acquired in the Central and Northern California regions in the past few months. The other four properties total 625,730 square feet. West Ferguson is currently 18 percent leased. Its sole tenant is STIHL American LLC. Palmer-Capital’s Brandon Banks represented Westcore Properties in this transaction. The seller, The Allen Group, represented itself.
WAIPAHU, HAWAII — Westcore Properties has purchased the 250,460-square-foot Waipio Business Center, a four-building industrial campus in Waipahu, for an undisclosed sum. The property is currently 20 percent leased. This is the firm's first Hawaii-based acquisition. Westcore Properties represented itself in the transaction.