Westcore, a leading industrial real estate acquisition, development and asset management firm, acquired a 69,360-square-foot industrial warehouse located at 19516 South Susana Road in Rancho Dominguez, California for $11.75 million. The seller and owner, Ocean Knight Shipping, will vacate the building, and Westcore will make extensive renovations.
“We are confident this highly functional property will meet the current demand of market users, and we anticipate strong leasing demand,” said Mike Metzger, director of acquisitions at Westcore.
The South Susana Road property has seven dock-high doors and two grade-level doors; 22 to 24 feet of clear height; 1600 amps of 480V power; 4,000 square feet of office space; and excellent visibility from I-710.
Westcore plans to fully rehabilitate the property to provide move-in ready improvements for a highly functional Class B distribution property located in an A+ market with strong fundamentals.
Andrew Lara, Jordan Lara and Rudy Lara of Daum Commercial represented both parties in the transaction and will market the property for lease.
“We are excited to add this value-add property to our growing portfolio and look forward to working with the Daum team to lease this asset with little downtime,” Metzger added.
The South Susana Road property is part of Westcore’s growing Los Angeles portfolio and consistent with the firm’s criteria for well-located and functional logistics, e-commerce and last mile industrial properties within the Western U.S.
Westcore is a fully integrated commercial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding in 2000, Westcore have acquired, managed and sold more than $9 billion in industrial and office assets, comprised of more than 750 buildings and totaling over 50 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles and Oakland, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.