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September 19, 2019
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Stockbridge Capital Group Acquires 6.35 msf Industrial Property Portfolio

8/19/19

San Francisco-based Stockbridge Capital Group has acquired a 6.35 msf industrial portfolio from Westcore Properties. The price was not disclosed.

With 26 assets across nine markets in five states, the portfolio is nearly 100% leased, despite many of the properties being vacant at the time of Westcore’s purchase. The buildings’ tenants are primarily big-box and last-mile users.

Westcore acquired all of the properties in the portfolio since September of 2016, mostly in off-market transactions, and renovated nearly all of them. According to Don Ankeny, president and CEO of Westcore Properties, the company looked for select value-add properties where they could make a difference and return a premier asset to a thriving industrial market.

The portfolio includes:

California
• 927 E. 9th St and 7776 E. Tippecanoe Ave, San Bernardino
• 22705 Newhope St, Moreno Valley
• 3834 Duck Creek Dr, Stockton
• 133 & 155 Mata Way, San Marcos
• 500-938 S. Andreasen Dr, Escondido
• 13915 Maryton Ave, Santa Fe Springs
• 2200-2300 Wilbur Ave and 2110-2300 Wilbur Lane, Antioch
• 1627 Army Ct, Stockton
• 4545 Qantas Lane, Stockton
• 1050 E. Grant Line Road, Tracy
• 5675 Sunol Blvd, Pleasanton

Arizona
• 7037 W. Van Buren St, Phoenix

Nevada
• 445 E. Glendale Ave, Sparks
• 550 Coney Island Dr, Sparks
• 960 United Circle Dr, Sparks
• 980 United Circle Dr, Sparks
• 1050 Spice Islands Dr, Sparks
• 1750 Purina Way, Sparks
• 940 Spice Islands Dr, Sparks
• 1277-1295 Spice Islands Dr, Sparks
• 750 Spice Islands Dr, Sparks
• 748 Spice Islands Dr, Sparks
• 700-742 Spice Islands Dr, Sparks
• 1259-1275 Spice Islands Dr, Sparks

Utah
• 4745 Amelia Earhart Dr, Salt Lake City

Indiana
• 135 S. Mt. Zion Rd, Lebanon

“We are very positive about the underlying market fundamentals for industrial property,” added Ankeny. “We’re continuing to work with our broker partners to identify and secure industrial properties in established and emerging markets where we can unlock value and continue to grow our business.”
Stephen Silk, Jay Borzi and Adam Pastor of Eastdil Secured represented Westcore Properties in the sale, while Stockbridge Capital Group represented itself.





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