Westcore, a real estate investment and management firm based in La Jolla, has acquired a Colorado industrial campus for $48 million.
The 506,164 square-foot campus in Broomfield includes 11 buildings.
Tyler Carner, Jeremy Ballenger, Jim Bolt, and Jessica Ostermick of CBRE represented the seller.
Westcore represented itself.
Renovations planned by Westcore include new paint and upgrades to the parking lot.
“This portfolio provides Westcore the rare opportunity to purchase 35 acres of land with 11 highly functional and 100% leased assets in Denver’s Northwest Corridor, which is one of Denver’s leading infill industrial markets in high demand,” said Mike Metzger, Westcore’s director of acquisitions.
“We are encouraged by the strong market dynamics, including significant supply constraints and multiple demand drivers that will allow us to add significant value to the portfolio over time,” Metzger said.
Earlier this year, Westcore acquired another Denver-area asset, a 149,652-square-foot, Class A warehouse in Englewood, Colorado.