WESTCORE, DRA BUY CA, MIDWEST INDUSTRIAL PORTFOLIO FOR $600M

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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.

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