February 7, 2016
Westcore Properties completed more than $1.25-billion in transaction volume last year. The San Diego-based CRE investment firm reported it acquired 3.7-million square feet of institutional-quality industrial buildings, and 700,000 square feet of office buildings, in the Western United States for $555-million.
Westcore also generated more than $700-million in disposition activity, including the sale of a 3.2-million-square-foot industrial portfolio. The divestments included “non-core assets or opportunities to capture investment return opportunities.
Highlights of 2015 transaction activity:
- $179.8-million sale of 24-story office tower in Oakland
- $69.4-million acquisition of eight-building industrial portfolio in Southern California
- $25.5-million acquisition of industrial facility in Ontario
- $52.7-million acquisition of office property and data center in Silicon Valley
The firm is seeking to acquire up to $1 billion in industrial and office properties this year.