Westcore, a leading West Coast industrial real estate acquisition, development and asset management firm, acquired a 117,342-square-foot warehouse at 201 Flynn Road in Camarillo, California. Westcore purchased the property from Decker-Goetsch Properties, based in Los Angeles County, for $20 million.
The industrial building has been 100% leased for more than eight (8) years. This property was a particularly attractive acquisition to Westcore due to its low site coverage at 33.5 percent, a 231-foot rear yard, and two ingress/egress points. The property 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, while Westcore represented itself in this transaction.
Westcore acquired over $1 billion worth of industrial real estate in 2020, comprising over 11 million square feet of building space. Westcore now owns property in 13 states.
For more information, visit the San Diego Business Journal.
