Sitting on 5.4 acres near the intersection of Bridgeway andColoma streets, the 134,812-sf (net rentable) development consistsof a mix of stick-frame and tilt-wall buildings dating to the 1960sand early 1970s. The building addresses are 150, 160-170, 200, 310and 360 Gate Five Rd.; and 401-413, 413-439, and 441-475 ColomaSt.


Orion Partners' Jerry Suyderhoud, which represented the seller,tells that the development is set up for small usersand that occupancy was essentially 100% occupied at the time ofsale. "The Sausalito market in general has always been a fairlytight when it comes to small users," he says. "This particulardevelopment also is well occupied because it's a B class propertyin an A location."


Availability in the portfolio has reportedly increased slightlyin recent weeks as Westcore attempts to push rents. Neil Johnson,Westcore's director of acquisitions, did not return phone callsseeking comment on the investment.


Orion Partners represented both Westcore Properties and MarinFreeholders. Orion's Jeff Traynor represented the buyer.Acquisition financing was provided by California Bank andTrust.

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