Westcore Pays $54M for Reno Industrial PortfolioBy
Westcore Properties purchased approximately 1.2 million square feet of industrial space.
Reno, Nev.—Westcore Properties, a global, entrepreneurial commercial real estate investment firm focusing on western U.S. commercial and industrial properties, has announced the purchase of an approximately 1.2 million-square-foot industrial portfolio in Reno, Nev., for roughly $54 million. The newly acquired asset marks the first purchase of the company in the area.
“Reno is a maturing market that is benefiting from the demand of e-commerce tenants as well as the migration and expansion of California’s industrial users. This portfolio is a natural extension of our other industrial property holdings, increasing our ability to provide for the needs of our existing and future tenants throughout the West,” Peter Mette, director of acquisitions at Westcore Properties, said in prepared remarks…
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