Vigorous Growth Fuels Westcore Properties' Move to Larger Headquarters
SAN DIEGO, April 11, 2012 /PRNewswire/ -- Westcore Properties, a private international real estate investment firm, has relocated and expanded its corporate headquarters in San Diego in response to vigorous growth that has seen the private real estate firm's office and industrial portfolio top 11.6 million square feet.
"We are actively growing our real estate activities, with emphasis on the acquisition of core-plus and value-add office and industrial assets in the Western United States, particularly California," said Marc Brutten, chairman of Westcore Properties. "This move will immediately accommodate a 15 percent increase in our professional staff and allow for our projected growth over the next several years."
According to Don Ankeny, Westcore Properties' president and CEO, "We are well-capitalized and anticipate expanding our portfolio to more than 15 million square feet over the next three to five years. Our new space is designed to facilitate ease of communication and integration between various departments to enhance our ability to identify and move quickly on new real estate opportunities."
Westcore's move to state-of-the-art, 14,000-square-foot offices at 4435 Eastgate Mall represents a substantial increase in size from the 9,000-square-foot offices it has occupied in a neighboring building. The new space will initially house 41 employees, with the ability to grow.
The company's San Diego headquarters relocation coincides with its opening of a new regional office in Orange County, which is headed by Neil Johnson, managing director. The firm also has offices in San Francisco, Denver, and Europe.
"Over the past year, we have expanded our support staff significantly including the addition of several CPAs and finance professionals," said Ankeny. "We also are looking for a new vice president of acquisitions for our Northern California office and will be growing our property management team as our portfolio increases."
In the five-year lease transaction, Dave Marino of Hughes Marino represented Westcore Properties. The landlord, Sunroad Enterprises, represented itself.
About Westcore Properties
Westcore Properties (www.westcore.net) is a private, entrepreneurial commercial real estate investment firm with a specialized focus in the western United States and key European markets. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $3.9 billion in industrial and office assets comprised of 550 buildings totaling over 25 million square feet.
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