OAKLAND, CA—Westcore has acquired a 155,000-square-foot, class Aindustrial warehouse located at 8380 Pardee Dr. in Oakland, CA for$40.5 million. Constructed in 2012, the fully leased distributionfacility features 8,000 square feet of cold storage, 30-foot clearheight, ESFR fire suppression and an excellent location adjacent tothe Oakland airport.
"In addition to its excellent location, the facility offerstenants all of the features of a modern, class A building. We areexcited to welcome a quality companylike Anhesuer Busch to our portfolio," says PeterMette, managing director at Westcore, in a preparedstatement. "The industrial property market remains strong, and weare bullish on the long-term fundamentals of the Oakland market andthe investment in 8380 Pardee Dr."
Westcore was represented in the transaction byTom Damaschino of Cushman & Wakefield, whilethe undisclosed seller was represented by RichardSutherland of the Sutherland Co.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.