SAN JUAN CAPISTRANO, CA-San Diego-based investment firm Westcore Properties has acquired a 40%-leased Orange County office property that it sees as positioned for the next market phase. The property, at 29122 and 29222 Rancho Viejo Rd., was called Mammoth Professional Office Park but has been renamed Westcore Executive Center. It is a two-building, 115,517-square-foot class A office park that was developed by Mammoth Equities as its headquarters, according to a GlobeSt.com report in December 2006.
According to Greg Erickson, principal of Southern California acquisitions for Westcore, the company “saw the project as an ideal asset that was well-positioned for the next market phase.” He cited its location as well as a design that “will continue to attract quality small- to mid-level corporations.”
Westcore plans to remodel the courtyard area to include seating for tenants to enjoy the outdoor landscape and water feature. The company was represented by Dan Vittone, Al Pekarcik, Tony O’Neill and Kendrick Askew of Voit Real Estate Services in the sale, terms of which were not disclosed.
The new Westcore asset features suites of two to 10 rooms, each separately metered and with separate HVAC package units atop the roof. Each suite is built out and in rent condition, the company notes. The property, which is situated on 13.5 acres, overlooks Interstate 5 at the transition to the Route 73 Transportation Corridor.
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