California Business Park Sold

Westcore Properties has bought a three-building business park in Fremont, Calif. for $11.2 million. The three properties consist of 128,000 sq. ft. of office and research & development (R & D) space located on a 7.7 acre parcel. San Diego-based Westcore, a private real estate investment firm, bought the business park from Mission Falls LLC. Westcore is mulling over a condominium conversion of one or both of the towers in the future.

"This is an excellent location, with exceptional access to the 880 and 680 Freeways and nearby residential neighborhoods, retail shopping and services," says Neil Johnson, director of acquisitions for Westcore Properties in Northern California. "We made two other acquisitions in Fremont in 2005 and the success of those investments prompted us to look for additional opportunities."

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