Westcore, CT Realty Form JV to Acquire 1.4MSF Cajon Distribution Center
The 1.4 million-square-foot center was acquired for its location and position in the marketplace, according to Westcore principal and director of southwestern United States acquisitions Steve Bollert.
August 23, 2010
By Allison Landa, News Editor
A joint venture between Westcore Properties and CT Realty Investors has resulted in the acquisition of the Class A Cajon Distribution Center in San Bernadino, California. The 1.4 million-square-foot center was acquired for its location and position in the marketplace, according to Westcore principal and director of southwestern United States acquisitions Steve Bollert.
Behringer Harvard is also involved in the joint venture, as well as Pacific Coast Capital Partners, L.L.C. The seller’s information and financial terms were not disclosed. Darla Longo of CB Richard Ellis and Peter McWilliams and Mike McCrary of Jones Lang LaSalle represented the seller.
Built in 2008, the two-building, cross-dock property is located on a 63-acre site at 7010 and 7140 North Cajon Boulevard. Its corporate neighbors include Target, Kohls and Home Depot.
Both buildings are currently available for lease.
Westcore Properties was founded in 2000 and has since invested in more than $2.2. billion in office and industrial properties totaling more than 10.2 million square feet.
CT Realty Investors was established in 1994 and has since completed more than 150 transactions with value in excess of $2.5 billion through a series of ten independent discretionary private equity real estate funds.
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