SAN DIEGO—Westcore Properties targets dealt that require more hands-on management, filling vacancy and repositioning of assets or managing lease expirations as part of its acquisition strategy, the firm's SVP Hack Adams tells GlobeSt.com. After Westcore's recent announcement that it is purchasing an infill, core-plus industrial portfolio from MetLife for $69.4 million in the Inland Empire and Orange County, we spoke exclusively with Adams about the transaction and the difficulty of winning industrial portfolio deals in today's highly competitive market.

GlobeSt.com: How difficult is it to win industrial portfolio transactions in today's competitive market?

Adams: The amount of capital looking for California industrial investments is staggering; therefore, Westcore does not chase every portfolio opportunity. Instead, we target deals that require a more hands-on management, filling vacancy, re-positioning of assets or managing lease expirations. These types of deals are what Westcore is very good at buying and owning. The MetLife portfolio is a perfect example of how we can find deals in an extremely competitive market.

GlobeSt.com: What is the secret to winning these deals?

Adams: Being a local market expert and staying ahead or on top of the various submarket dynamics, so we can quickly react when we recognize a fundamentally sound investment opportunity.

GlobeSt.com: What other markets are you eyeing for acquisitions?

Adams: Although it is a tough nut to crack, we are focused on buying California industrial. That is where we are spending the vast majority of our acquisition efforts.

GlobeSt.com: What else should our readers know about this transaction?

Adams: We are proud of the portfolio acquisition and are looking to deploy more money into the California industrial markets. If you are a broker reading this article, please call us with any ideas or opportunities you might have.