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.

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Orion Partners' Jerry Suyderhoud, which represented the seller,tells GlobeSt.com 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."

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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.

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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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