Westcore Acquires 133,825-SF Industrial Manufacturing Facility in Off-Market Transaction
RIVERSIDE, Calif. (Dec. 3, 2020) – Westcore, a leading industrial real estate acquisition, development and asset management firm, has acquired a 133,825-square-foot manufacturing facility located at 5821 Wilderness Ave. in Riverside, California. Westcore purchased the building from Triple H Properties for $15.4 million.
Triple H Properties originally constructed the manufacturing facility in 1991 and expanded it around 1999. The longtime tenant, Triple H Food Processors, is an affiliate of Triple H Properties and will continue to lease the building. Triple H Food Processors is a growing contract manufacturer that works with food and beverage customers in all stages of business, from infancy to national brands.
“We’re pleased to add a strong tenant and a functional industrial manufacturing facility to our Southern California portfolio,” said Westcore Managing Director Hack Adams. “The infill location, long-standing occupancy and flexible building layout provides a strong foundation for an accretive, long-term investment.”
Brad Yates and Stefan Pastor of Colliers International represented Westcore in the off-market transaction.
“We’re grateful to Brad and Stefan, who have now brought us two terrific opportunities in Riverside and Temecula,” said Adams. “We’re dedicated to exceptional relationships with brokers, and we appreciate Brad and Stefan continuing to source us new industrial opportunities.”
Westcore is a fully integrated commercial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding in 2000, Westcore has acquired, managed and sold more than $9 billion in industrial and office assets, comprised of more than 750 buildings and totaling over 50 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles and Oakland, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.