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June 22, 2024
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Westcore Closes $40 Mil Oakland Buy


Westcore acquired a 155k sf, Class A industrial warehouse in Oakland for $40.5 mil ($261/sf). The property is located at 8380 Pardee Dr, between Doolittle Dr and I-880.

Constructed in 2012, the distribution facility is fully leased and offers the benefits of a modern, Class A building. It features 8k sf of cold storage, 30-foot clear height, ESFR fire suppression and an excellent location adjacent to the Oakland airport.

Westcore was represented in the transaction by Tom Damaschino of Cushman & Wakefield, while the undisclosed seller was repped by Richard Sutherland of The Sutherland Company.

Westcore’s last investment in the Oakland area occurred two years ago with the purchase of an 87.9k sf, multi-tenant industrial property less than 10 miles from the Pardee Drive property. Westcore has closed five acquisitions in 2020, representing $95 mil and has five additional acquisitions recently under contract, representing over $100 mil.

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