PHOENIX—After approximately two years without a Phoenix property in its portfolio, Westcore Properties was attracted back to the market due to its growing economy, declining vacancy rates and rising rents, particularly in the multi-tenant industrial sector.  After this short hiatus, it recently added a 170,625-square-foot industrial property located at 125 North 67th Ave. to its portfolio. Westcore purchased the property, originally built in 2001, from an independent Canadian investor for $10.2 million.

Hack Adams, senior vice president at Westcore Properties, tells GlobeSt.com: “We are very focused on expanding our industrial asset base with quality investments like 67th Avenue, and we feel Phoenix’s diverse economic base, as well as the resurgence of the multi-tenant industrial market provided us an exciting opportunity to lay the foundation for building a cohesive Phoenix industrial portfolio.”

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