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Westcore Acquires Silicon Valley Industrial for $20M

San Diego-based Westcore Properties has acquired an 81,475-square-foot industrial property in San Jose, CA for $20.55 million, or approximately $252 per square foot.

Built in 1967 on 3.5 acres located at 1800 Dobbin Dr., the property is easily accessible from interstates 880 and 680, and U.S. Highway 101. The Berryessa Transit Center and the Berryessa urban village development, which includes a variety of mixed-use commercial and residential projects, are directly across the street.

The building is partitioned into a 25,000-square-foot unit and a 56,475-square-foot space, and features 29-foot clear heights. The zoning allows for a variety of manufacturing, production, distribution and storage uses.

Connect Media recently reported on Westcore’s new $150-million equity raise with an institutional investor for the programmatic acquisition of up to approximately $400 million (with leverage) of industrial real estate acquisitions, the company’s singular asset target.

Marcus & Millichap’s Jeffrey Ida, Cole Ferrari and Brendan Gallagher represented the seller.

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