September 12, 2017
Westcore Properties acquired the 665,775-square-foot, two-building Antioch Distribution Center from Dallas-based Covington Group for $32.4 million. The manufacturing/distribution project is located in Antioch, CA at 2200 to 2300 and 2110 Wilbur Street.
Westcore Properties’ Peter Mette says, “We were attracted to the investment’s basis at $49-per-square-foot and the solid cash flow yield based upon substantially below-market rents.”
By acquiring Antioch Distribution Center, Westcore expands its industrial property holdings in one of its core areas of focus: Northern California’s East Bay and Central Valley. Over the last year, Westcore also acquired three industrial properties in Stockton and one in Tracy.
Cushman & Wakefield’s Steve Hermann, Scott Bertrand and Brooks Pedder represented the seller. The buyer was self-represented.
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