Westcore acquired a three-building, 332,000 square foot industrial park in the Deer Valley submarket of Phoenix for $90.7 million. The property is part of the Mack Real Estate Group’s Innovation Park. The entire industrial park comprises 10 buildings, totaling over 1,332,176 square feet. Westcore plans to rebrand the warehouse property as Westcore Innovation Park.
The Class A Westcore Innovation Park, located at 23869-23975 N. 19th Ave and 1775 W. Alameda Rd, sits on 21.87 acres. At closing, the property will be 100% leased to eight tenants.
This transaction brings Westcore’s real estate holdings in the Phoenix market to 3.1 million square feet of space.
“With the world’s biggest semiconductor manufacturer nearby and continued healthy regional demand for industrial properties, Westcore Innovation Park is a great addition to our Phoenix and broader U.S. portfolio,” said Westcore’s Hack Adams.
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