BUSSIGNY-PRES-LAUSANNE, SWITZERLAND-Westcore Properties has sold a Coca Cola logistics building here to Procimmo Swiss Commercial Fund, a public real estate investment fund. Wescore Europe, an affiliate, sold the 77,220-square-foot property for $12 million.
The building is located at Route de Sorge 1. Olivier Hezelot, asset manager with Geneva-based Westcore Europe, said the property had gone through several capital improvements. His company acquired the building in 2006. The project was part of Westcore’s worldwide 10.6-million-square-foot commercial real estate portfolio of industrial and office space.
The primarily industrial facility also includes mixed-use and office space. Tenants of the building include DHL Express and Societe de la Loterie de la Suisse Romande. PSCF plans to hold the property as an investment, Hezelot said in a statement.
Westcore Europe represented itself in the transaction. The buyer was represented by Jean-Philippe Barbey of NAEF & Cie. The lender was Banque Cantonale Vaudoise (BCV).
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