San Diego-headquartered Westcore Properties has acquired a Stockton industrial property for approximately $6 million, the investment company announced.
A company statement said the 172,500-square-foot property, at 4545 Qantas Lane, was purchased from the Friedman family of Sacramento.
Company officials said the acquisition is part of a strategy to provide its coastal California tenants with lower-cost options for their distribution and manufacturing operations. Westcore previously entered the industrial real estate markets of Seattle, Reno and Phoenix.
The Stockton building is fully leased to food packaging supplier Pactiv LLC. The seller in the transaction was represented by Robert Taylor and Tim Mustin of brokerage firm JLL.
Westcore Properties was founded in 2000 and is focused on industrial and other commercial properties in the western United States. In addition to its San Diego headquarters, it has regional offices in Oakland, Sacramento and Denver, with European satellite offices in England and Switzerland.