October 4, 2016
San Diego, CA-based Westcore Properties acquired a 514,169-square-foot industrial portfolio in San Diego’s North County from Boston-based TA Realty for roughly $75 million. The four-property portfolio encompasses 22 buildings located in Rancho Bernardo, Escondido and San Marcos that are nearly 100% leased.
Westcore plans to make cosmetic improvements at each property, including landscaping and painting, as well as maintenance and upgrades for HVAC systems, asphalt and roofs.
Westcore Properties’ Hack Adams says, “Development of incubator multi-tenant and multi-tenant industrial properties has been almost non-existent in San Diego over the past decade, increasing demand for these buildings.”
Cushman & Wakefield’s Rick Reeder and Brad Tecca represented the seller. Westcore was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser