The introduction of Westcore Properties to the industrial property market pool in Denver highlights the firm’s expanding operations in Colorado and throughout the Western U.S.
“In 2012 Westcore Properties had a tremendous year. Our team realized a record $1 billion year in transaction volume and more than doubled the size of our office and industrial portfolio to 24 million square feet,” said Don Ankeny, president & CEO at Westcore Properties. “These industrial acquisitions speak volumes about our confidence and commitment to the Colorado property market.”
The two acquisitions together are 98 percent occupied and encompass nearly 450,000 square feet of industrial space. Bryant Street Quad and 6400 Broadway collectively consist of five buildings and are located within the central Denver submarket. The 16600 Table Mountain Pkwy. property is located near state highway 58 and I-70 within the west Denver submarket.
“These properties are major assets for our Colorado portfolio,” said John Fefley, director of leasing and asset development at Westcore Properties. “Westcore believes the industrial property markets in Denver are strong and we have significant confidence investing here. These are our first industrial transactions in Colorado since we joined the market here in 2006 and we capitalized on properties with strong assets and quality tenants in high-profile Colorado regions.”
Westcore Properties owns more than $1.8 billion in property and leases 1.1 million square feet of office space in Colorado. The recent transactions further strengthen Westcore Properties’ statewide real estate portfolio and confirms the Denver region provides stable, long-term investment opportunities.
Headquartered in San Diego and with operations in several U.S. and European markets, Westcore Properties has been actively working in key industrial property markets for the last decade. The firm’s $700 million purchase of a 12-million-square-foot industrial portfolio in Sacramento, Calif. was the largest in the state and the second largest in the U.S. in 2012.
About Westcore Properties
Westcore Properties is a private, entrepreneurial commercial real estate investment firm with a specialized focus in the western United States and key European markets. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $3.9 billion in industrial and office assets comprised of more than 550 buildings totaling over 26 million square feet. In addition to its U.S. headquarters in San Diego, Westcore Properties has regional offices in San Francisco, Sacramento, Irvine and Denver. The firm's European offices are located in Geneva, Switzerland and London, England.