{"id":1004158060,"date":"2016-11-03T05:51:38","date_gmt":"2016-11-03T13:51:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004158060"},"modified":"2020-05-18T12:45:47","modified_gmt":"2020-05-18T20:45:47","slug":"westcore-pays-54m-for-reno-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westcore-pays-54m-for-reno-industrial-portfolio\/","title":{"rendered":"Westcore Pays $54M for Reno Industrial Portfolio"},"content":{"rendered":"<p>by Evelina Croitoru<\/p>\n<div id=\"attachment_1004158061\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004158061\" data-attachment-id=\"1004158061\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westcore-pays-54m-for-reno-industrial-portfolio\/reno_image-7\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg\" data-orig-size=\"1103,851\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Reno_Image 7\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg?w=1024\" class=\"wp-image-1004158061 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg\" alt=\"Westcore Properties purchased approximately 1.2 million square feet of industrial space.\" width=\"300\" height=\"231\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg 1103w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg?resize=300,231 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg?resize=768,593 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg?resize=1024,790 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004158061\" class=\"wp-caption-text\">Westcore Properties purchased approximately 1.2 million square feet of industrial space.<\/p><\/div>\n<p><strong>Reno, Nev.<\/strong>\u2014<a href=\"https:\/\/www.westcore.net\/\" rel=\"nofollow\" target=\"_blank\">Westcore Properties<\/a>, a global, entrepreneurial commercial real estate <a href=\"https:\/\/www.commercialsearch.com\/news\/investment\/\" target=\"_blank\">investment<\/a> 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.<\/p>\n<p>\u201cReno is a maturing market that is benefiting from the demand of e-commerce tenants as well as the migration and expansion of California\u2019s 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,\u201d Peter Mette, director of <a href=\"https:\/\/www.commercialsearch.com\/news\/westcore-gets-bullish-on-growing-class-b-industrial-markets\/\" target=\"_blank\">acquisitions<\/a> at Westcore Properties, said in prepared remarks.<\/p>\n<p><a href=\"https:\/\/www.hfflp.com\/\" rel=\"nofollow\" target=\"_blank\">HFF<\/a> marketed the larger, approximately 2.6 million-square-foot portfolio on behalf of <a href=\"https:\/\/www.glp-us.com\/\" rel=\"nofollow\" target=\"_blank\">GLP US<\/a> and has assisted Westcore in achieving critical mass in the Reno market by acquiring the second and third tranches of the portfolio, as reported by Anthony Brent, senior managing director with HFF. \u201cThe properties are proximate to Interstate 80, which is the second largest interstate highway in the United Sates, connecting the east and west coasts, and are within two miles of the Reno Tahoe Airport,\u201d added Brent.<\/p>\n<p>In addition to Brent, Ryan Martin and Scott Pertell with HFF represented GLP US in the transaction. The Reno portfolio was 92 percent leased by 53 tenants at the time of the deal.<\/p>\n<p><em>Image courtesy of Westcore Properties<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has acquired the second and third tranches of the larger, 2.6 million-square-foot portfolio.<\/p>\n","protected":false},"author":1055,"featured_media":1004158061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,1593,21742,15],"tags":[],"class_list":["post-1004158060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-las-vegas","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Westcore Pays $54M for Reno Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/westcore-pays-54m-for-reno-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westcore Pays $54M for Reno Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company has acquired the second and third tranches of the larger, 2.6 million-square-foot portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westcore-pays-54m-for-reno-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-11-03T13:51:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T20:45:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/Reno_Image-7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1103\" \/>\n\t<meta property=\"og:image:height\" content=\"851\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/\"},\"author\":{\"name\":\"Evelina Croitoru\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e9e65abbef696b705a028580e04c8c99\"},\"headline\":\"Westcore Pays $54M for Reno Industrial Portfolio\",\"datePublished\":\"2016-11-03T13:51:38+00:00\",\"dateModified\":\"2020-05-18T20:45:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/11\\\/Reno_Image-7.jpg\",\"articleSection\":[\"Deals\",\"Industrial\",\"Las Vegas\",\"News\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/westcore-pays-54m-for-reno-industrial-portfolio\\\/\",\"name\":\"Westcore Pays $54M for Reno Industrial Portfolio - 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