San Diego Business Journal

Westcore Buys Irvine Properties for $15.1 million

Monday, January 16, 2012

San Diego-based Westcore Properties has purchased a two-building industrial and office complex in Irvine for $15.1 million.

The buildings, totaling 166,000 square feet at 1601 and 1621 Alton Parkway, are fully leased to tenants including Irvine Electronics Inc., Fox Head, Del Mar Avionics Inc. and E-Squared, according to a Jan. 9 statement from Westcore.

Company founder and Chairman Marc Brutten said the acquisition is in line with the company’s 2012 plan “to acquire quality industrial and office space in strategic and infill markets” throughout Southern California.

The seller was Del Mar Avionics, and both the buyer and seller were represented by brokerage firm CB Richard Ellis, the statement said.

Since its 2000 founding, Westcore and its affiliates have acquired and managed more than $3.9 billion in industrial and office assets in the United States and Europe.

— Lou Hirsh