{"id":1004344970,"date":"2019-08-09T00:57:22","date_gmt":"2019-08-09T08:57:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004344970"},"modified":"2019-08-09T00:57:22","modified_gmt":"2019-08-09T08:57:22","slug":"westcore-buys-new-380-ksf-phoenix-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/","title":{"rendered":"Westcore Buys New 380 KSF Phoenix Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

West 80. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

Westcore Properties has added a Phoenix-area speculative industrial<\/a> building to its portfolio with the acquisition of West 80 in Tolleson, Ariz. The company acquired the brand-new 379,800-square-foot property from a joint venture of Wentworth Property Co. and private real estate fund managed by Crow Holdings Capital.<\/p>\n

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READ ALSO:<\/strong> Compass Datacenters Begins Construction of Phoenix Campus<\/a><\/p>\n

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Seller Wentworth only recently completed development of West 80, a Butler Design Group-designed building sited on 22 acres. Westcore doesn\u2019t make a habit of pursuing assets that are in the construction stage, so the decision to make a bid for the property, located at 8001 W. Buckeye Road, was an uncharacteristic move for the firm.<\/p>\n

Cushman & Wakefield\u2019s Will Strong, charged with marketing the property to a limited audience on the seller\u2019s behalf, brought the opportunity to the buyer. Westcore has tapped the Cushman & Wakefield team of Mike Haenel, Andy Markham and Phil Haenel to spearhead leasing of West 80, which can accommodate a single user or as many as three tenants. The new owner plans to waste precious little time prepping the property for immediate occupancy by instituting certain improvements, including the build-out of 3,800 square feet of office space.<\/p>\n

Buy some, sell more<\/h2>\n

Year-to-date, 2019 has not been Westcore\u2019s most acquisitive period\u2014and that is how the company planned it. \u201cWe are certainly a net seller for 2019 and we\u2019ve been very focused on selling some assets that were in the first fund that we are in the process of closing out,\u201d<\/em> Hack Adams, senior vice president with Westcore, told Commercial Property Executive<\/em>. \u201cBut we are very bullish on the Western U.S. industrial market and we\u2019ll be cranking up the acquisitions machine again in late 2019 and into 2020.\u201d<\/em> <\/p>\n

It remains a fine time to invest in the industrial sector, not just in the Western U.S., but across the country. According to a second-quarter report by Cushman & Wakefield, net absorption in the national industrial sector is on track to exceed 200 million square feet for a sixth consecutive year in 2019, with demand for all product types growing in all regions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new owner is bullish on the western U.S. industrial sector\u2014the recently delivered speculative building known as West 80 proved to be a strategic investment. <\/p>\n","protected":false},"author":969,"featured_media":1004344979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21808,21748,21742,1601,15],"tags":[38006,37358,32799,46607,34163],"class_list":["post-1004344970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-featured","category-industrial","category-latest","category-phoenix","category-west","tag-butler-design-group","tag-crow-holdings","tag-cushman-wakefield","tag-hack-adams","tag-westcore-properties"],"acf":[],"yoast_head":"\nWestcore Buys New 380 KSF Phoenix Industrial Asset - 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-buys-new-380-ksf-phoenix-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Westcore Buys New 380 KSF Phoenix Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The new owner is bullish on the western U.S. industrial sector\u2014the recently delivered speculative building known as West 80 proved to be a strategic investment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/\" \/>\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=\"2019-08-09T08:57:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/West-80-Phoenix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3902\" \/>\n\t<meta property=\"og:image:height\" content=\"3024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/\",\"name\":\"Westcore Buys New 380 KSF Phoenix Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/West-80-Phoenix.jpg\",\"datePublished\":\"2019-08-09T08:57:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/westcore-buys-new-380-ksf-phoenix-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/West-80-Phoenix.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/West-80-Phoenix.jpg\",\"width\":3902,\"height\":3024,\"caption\":\"West 80. 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