{"id":1004178458,"date":"2017-05-30T05:44:11","date_gmt":"2017-05-30T13:44:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004178458"},"modified":"2022-12-08T07:24:19","modified_gmt":"2022-12-08T15:24:19","slug":"westcore-expands-norcal-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westcore-expands-norcal-industrial-portfolio\/","title":{"rendered":"Westcore Expands NorCal Industrial Portfolio"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004178459\" style=\"width: 406px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004178459\" data-attachment-id=\"1004178459\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westcore-expands-norcal-industrial-portfolio\/1627-army-court-stockton-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg\" data-orig-size=\"791,510\" data-comments-opened=\"0\" 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;1&quot;}\" data-image-title=\"1627 Army Court, Stockton, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1627 Army Court, Stockton, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg?w=791\" class=\"wp-image-1004178459 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg\" alt=\"1627 Army Court, Stockton, Calif.\" width=\"396\" height=\"255\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg 791w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg?resize=300,193 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/1627-Army-Court-Stockton-Calif.-e1495793398365.jpg?resize=768,495 768w\" sizes=\"auto, (max-width: 396px) 100vw, 396px\" \/><\/a><p id=\"caption-attachment-1004178459\" class=\"wp-caption-text\">1627 Army Court, Stockton, Calif.<\/p><\/div>\n<p>Westcore Properties purchased a 277,500-square-foot industrial building in Stockton, Calif. for $14.4 million. Mike Goldstein and Wes Widmer of Colliers International\u2019s Central Valley team represented both parties in the off-market transaction.\u00a0<\/p>\n<p>Located at 1627 Army Court, just off Highway 4, the multi-tenant industrial building can accommodate tenants seeking 25,000 to 75,000 square feet of space in the tight <a href=\"https:\/\/www.commercialsearch.com\/news\/multi-tenant-infill-industrial-the-unicorn-of-cre-investment\/\">industrial market<\/a>.<\/p>\n<p><em>\u201cWith close ties to the California Bay Area market, Stockton\u2019s industrial market has continued to strengthen as companies look east to find suitable space,\u201d<\/em> said Peter Mette, director of acquisitions at Westcore Properties, in prepared remarks. \u201c<em>The suite sizes of this property are well-aligned with tenant demand in the market and the absence of new supply accommodating the small to mid-sized user should sustain rental growth.\u201d<\/em><\/p>\n<p>The asset is one mile west of Interstate 5 and to the Port of Stockton, 50 miles from Sacramento and around 70 miles from San Francisco, Oakland and San Jose. The building is opposite the Toys R US Distribution Center.<\/p>\n<p>Late last year, Westcore Properties also acquired the 172,500-square-foot industrial property located at 4545 Qantas Lane in Stockton, Calif. Since its founding in 2000, the company and its affiliates have acquired and managed more than $4 billion in industrial and office assets, including more than 750 buildings and 45 million square feet.\u00a0<\/p>\n<p><em>\u201cThe vacancy rate in San Joaquin County is at an all-time low. Companies relocating from the Bay Area combined with local and regional expansions have absorbed most of the available space,\u201d<\/em> said Goldstein in a prepared statement.<\/p>\n<p><em>Image courtesy of Westcore Properties<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has acquired a 277,500-square-foot industrial building in Stockton, Calif. for $14.4 million. This is Westcore\u2019s second acquisition in the city in the past year.<\/p>\n","protected":false},"author":960,"featured_media":1004505763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1609,15],"tags":[32763,34163],"class_list":["post-1004178458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-san-francisco","category-west","tag-colliers-international","tag-westcore-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Westcore Expands NorCal 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-expands-norcal-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westcore Expands NorCal Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"The company has acquired a 277,500-square-foot industrial building in Stockton, Calif. for $14.4 million. 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