August 16, 2017
San Diego-based Westcore Properties acquired EastRidge Business Park, a 25-building office and industrial park in Vancouver, WA from Investors Warranty of America LLC for $38.7 million. The transaction marks Westcore’s entrance into the Portland market.
Westcore Properties’ Peter Mette says, “At 65% leased, EastRidge Business Park is a classic value-add opportunity in the tight Portland market. There is minimal functional industrial space to satisfy the robust small and mid-sized tenant demand, which is evidenced by the current vacancy rate within the market.”
Planned renovations will orient the park to attract more industrial users than in years past. The property is located at NE 117th Ave. and NE 99th St.
JLL’s Paige Morgan and Buzz Ellis represented the seller. Westcore was self-represented.
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