(Read more on the industrial market.)

SAN JOSE, CA-Westcore Properties LLC of San Diego has acquiredthe 430,000-sf International Business Park for $46.7 million andplans extensive renovations to the combination R&D, office andtelco project, according to Westcore execs. The property is afive-building development at 1710, 2010, 2030, 2040 Fortune Dr. and1953-1965 Concourse Dr. that the San Diego-based investment anddevelopment firm bought from Minneapolis-based Eagle Ridge PartnersLLC.

Westcore sees significant upside potential in the upgrading andlease-up of the business park, which is situated on a site of 24acres and was 50% occupied at the time of the sale. Neil Johnson,director of acquisitions for Westcore Properties in NorthernCalifornia, says that the "major renovation to upgrade the park andsuite interiors" will increase marketability of the buildings in arecovering market.