Westcore Properties Adds East Bay Cold Storage Facility to Nor Cal Portfolio
Pleasanton, CA (January 8, 2018) –Westcore Properties added another industrial property to its Northern California portfolio with its acquisition of a cold storage facility at 5675 Sunol Blvd in Pleasanton. Westcore purchased the 98,000-square-foot warehouse from Texas-based JDS Properties, Inc. for $12.75 million.
Westcore will invest in numerous upgrades throughout the Pleasanton property, including refurbishing the office space interiors and improving buildings systems prior to its leasing efforts. Westcore acquired another East Bay property in Antioch, California in late 2017.
“Supply and demand continue to be out of balance in the industrial sector, including within the cold storage subset, and this Pleasanton property provides a central location for the user looking to serve the East Bay and greater Bay Area,” says Peter Mette, director of acquisitions at Westcore Properties. “We’ve been able to grow our Central Valley portfolio significantly over the past year and have enjoyed the benefits of the market’s health and connection to the Bay Area. The Sunol property is a natural addition to our growing Northern California portfolio.”
Mike Quint of Jackson & Cooksey and Mark Pleis of Lee & Associates represented the seller, while Westcore represented itself in the transaction.
About Westcore Properties
Westcore Properties is a global, entrepreneurial commercial real estate investment firm with a specialized focus in Western United States commercial and industrial properties. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $4 billion in industrial and office assets, comprised of more than 750 buildings and totaling over 45 million square feet. In addition to its U.S. headquarters in San Diego, Westcore Properties has regional offices in Los Angeles; Oakland; Sacramento; and Denver, as well as satellite offices in London, England; and Lausanne and Geneva, Switzerland.