|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 Westcores 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:
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
7037 W. Van Buren St, Phoenix
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
4745 Amelia Earhart Dr, Salt Lake City
135 S. Mt. Zion Rd, Lebanon
We are very positive about the underlying market fundamentals for industrial property, added Ankeny. Were 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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