Westcore, a leading industrial real estate acquisition, development and asset management firm, acquired a three-building, 332,479 industrial park in the Deer Valley submarket of Phoenix for $90.7 million. Westcore will rebrand the property as Westcore Innovation Park.
“With the world’s biggest semiconductor manufacturer nearby and continued healthy regional demand for industrial properties, Westcore Innovation Park is a great addition to our Phoenix and broader U.S. portfolio,” said Westcore Senior Managing Director Hack Adams.
The Class A Westcore Innovation Park, located at 23869-23975 N. 19th Avenue and 1775 W. Alameda Rd., totals 332,479 square feet of warehouse space on 21.87 acres and features dock-high loading, ESFR sprinklers and 24-foot to 32-foot warehouse clearance.
At closing, the property will be 100% leased to eight high-quality and diverse tenants. This transaction brings Westcore’s real estate holdings in the Phoenix market to 3.1 million square feet.
About Westcore
Founded in 2000, Westcore is a fully integrated industrial real estate investment company with over $4 billion in assets under management. Since its founding, Westcore has developed, acquired, managed and sold more than $14 billion in assets, comprised of more than 1,750 buildings and totaling over 150 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Oakland and Dallas.
