Westcore Acquires Eisenhauer Business Park from NIT Industrial for $36.6M
Westcore, a leading industrial real estate acquisition, development and asset management firm, has acquired the recently completed Eisenhauer Business Park in San Antonio, Texas from NIT Industrial. The four-building property, comprising 377,318-square-feet, sold for $36.6 million.
In the fall of 2021, Westcore agreed to purchase both Cedar Port Park and Eisenhauer Business Park from NIT Industrial. The latter purchase was scheduled upon building completion.
The newly built Eisenhauer Business Park is located at 5473 Eisenhauer Rd., proximate to the three primary San Antonio thoroughfares of IH-10, Loop 410 and IH-35. The buildings feature dock-high and grade-level loading and clear heights ranging from 28 feet to 32 feet. The project accommodates small and large users alike.
“I am excited for the addition of the Eisenhauer Business Park to our portfolio—our San Antonio holdings now exceed 1.5 million square feet,” said Westcore Managing Director Peter Mette. “San Antonio remains an attractive investment market for us, and we hope to add more high-quality assets to our portfolio in the near term.”
Westcore represented itself in the transaction, while Stream Realty Partners’ Michael Kent represented the seller.
“Westcore will benefit from a 95% occupied industrial market with record absorption over the past 18 months and continued tenant demand,” said Kent. “Plus, the variety of product and flexibility of suite sizes exposes the Eisenhauer Business Park to a wide range of tenant demand.”
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 and its affiliates have acquired and managed more than $6 billion in industrial and office assets, comprised of more than 1200 buildings and totaling over 60 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles; Oakland; and Sacramento, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.