Westcore, a leading industrial real estate acquisition, development and asset management firm, acquired a three-building, 332,479 industrial park in the Deer Valley submarket of Phoenix for $90.7 million. Westcore will rebrand the property as Westcore Innovation Park.
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“With the world’s biggest semiconductor manufacturer nearby and continued healthy regional demand for industrial properties, Westcore Innovation Park is a great addition to our Phoenix and broader U.S. portfolio,” said Westcore Senior Managing Director Hack Adams.
The Class A Westcore Innovation Park, located at 23869-23975 N. 19th Avenue and 1775 W. Alameda Rd., totals 332,479 square feet of warehouse space on 21.87 acres and features dock-high loading, ESFR sprinklers and 24-foot to 32-foot warehouse clearance.
At closing, the property will be 100% leased to eight high-quality and diverse tenants. This transaction brings Westcore’s real estate holdings in the Phoenix market to 3.1 million square feet.
