Westcore Snags Industrial Building in Moorpark
San Diego-based Westcore Properties acquired a 114,556-square-foot, light-industrial building at 6100 Condor Dr. in Moorpark, CA from Ventura-based Marcus Adams Capital, LLC for $13.8 million. The 24-foot, clear-height building sits on a 4.98-acre site and is fully occupied by two tenants, Test Equity and Shred-It.
The property is off the 118 Freeway in the supply-constrained Simi Valley industrial submarket. An adjoining 2.55-acre unimproved parcel, also included in the sale, is zoned for industrial development.
Westcore’s Mike Metzger says, “We plan to actively manage this property for the long-term benefit of the existing tenants. Additionally, we will explore ways to unlock value on the adjacent, 2.55-acre, freeway-fronting parcel through entitlement and potential development.”
NKF’s Bret Hardy, Ryan Plummer, Sean Fulp and Brad Burton represented Marcus Adams Capital in the transaction, while Westcore was self-represented.
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