X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

KEARNY MESA, CA-A Kearny Mesa office facility that is part of the CP Kelco corporate campus has traded hands in a transaction valued at $5.4million.

Located at 8355 Aero Dr., the building encompasses 35,840 sf. It is one of three facilities that comprise CP Kelco’s 63,445-sf complex in Kearny Mesa.

The Wilmington, DE-based producer of hydrocolloid products sold the 6.58-acre property to Westcore Industrial Properties in a $15.2-million, sale-leaseback deal that was announced this past January. Westcore paid $7.2 million for the asset, while CP Kelco inked a 10-year, $8-million lease to continue occupying the campus.

The firm uses the complex for its marketing, financial and supply chain operations, as well as various research activities involving areas such as fermentation genetics, fermentation metabolism, analytical science, biopoylmer science, food applications and industrial applications. In addition to office and laboratory space, the campus contains an extensive library.

In the recent sale of the 8355 Aero Dr. building, Westcore Industrial was represented in-house by Gary Katz and Marc Brutton. Matt Kelly of Burnham Real Estate Services and Mike Erwin of Business Real Estate acted on behalf of the buyer, Kelco-Wells LLC, which plans to hold the property as an investment.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.