Westcore Properties Sells 543,000-SF Los Angeles Industrial Park to PS Business Parks, Inc. for $104M

Westcore Properties Sells 543,000-SF Los Angeles Industrial Park to PS Business Parks, Inc. for $104M

Westcore Properties has sold PS Business Parks, Inc. a fully leased, 543,161-square-foot, multi-tenant office park in Santa Fe Springs, California for $104 million.

“This exceptionally well-located industrial park in the low-vacancy, mid-counties submarket of Los Angeles has attracted tenants partly because of its access to four major transportation corridors, proximity to a major population center and good street visibility,” said Hack Adams, Senior Vice President at Westcore. “As a hands-on landlord, we have confidence knowing PS Business Parks is acquiring a well-maintained property with high-quality tenants.”

Darla Longo, Barbara Perrier and Eric Cox of CBRE represented Westcore in the sale.

“We’re grateful to Darla, Barbara and Eric, as well as CBRE’s Rick McGeagh and Joshua Bonwell, who managed leasing efforts at this property over the 23 years we owned it,” said Lauren Suazo, Director of Leasing for Westcore.

The 10 buildings cover 27 acres of land and are located at 11811-11831, 11947, 11975 E. Florence Ave. and 10510, 10513, 10545, 10551, 10604, 10631, 10637, 10702 Hathaway Drive, Santa Fe Springs, CA.

About Westcore Properties

Westcore Properties is a global, entrepreneurial commercial real estate investment firm with a specialized focus in Western United States commercial and industrial properties. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $5 billion in industrial and office assets, comprised of more than 1200 buildings and totaling over 50 million square feet. In 2018, National Real Estate Investor ranked Westcore properties as one of the Top 50 owners of industrial real estate globally. In addition to its U.S. headquarters in San Diego, Westcore Properties has regional offices in Los Angeles; Oakland; and Sacramento, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.