|
|
7/26/21
|
Westcore has acquired a 117.3k sf warehouse building in Camarillo for $20 mil ($170/sf). The property, located at 201 Flynn Rd, was sold by SoCal-based Decker-Goetsch Properties.
The highly functional industrial building, which has been 100% leased for more than eight years, was particularly attractive to Westcore as it features low site coverage at 33.5%, a 231-foot rear yard and two separate ingress/egress points. The unique layout also allows for full drive-around capability.
“The functional, low coverage nature of this property, along with a solid income stream, provides tremendous versatility for future re-tenanting or possible redevelopment,” said Mike Metzger, director of acquisitions at Westcore. “We’re also seeing that Ventura County is developing into a stronger industrial market as the Greater Los Angeles Basin and the North Los Angeles markets become oversaturated.”
Darla Longo, Barbara Perrier and Eric Cox of CBRE National Partners represented the seller in this transaction, while Westcore represented itself.
“Westcore has snapped up a great property just off the 101 Ventura Freeway with proximity to a growing population base,” said Longo. “The San Fernando Valley has little developable land, which is pushing businesses and people further into Ventura County.”
Westcore acquired over $1 bil worth of industrial real estate in 2020, comprising over 11 msf of building space. Westcore now owns property in 13 states.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
