September 28, 2014
Westcore Properties of San Diego has purchased a vacant 104,180-square-foot industrial building in Otay Mesa for $6.7 million, or $64.31 sq.ft.
Westcore officials said the seller of 8917 Kerns St., was Dominion Investments/ C&W of San Diego. Ron Bement and Philip Roberts, of brokerage company Cushman & Wakefield Inc., represented the buyer and seller.
Constructed in 2006 near the Otay Mesa Port of Entry, the building formerly housed the North American offices of Kojima America but is currently vacant. Kojima used the facility to manufacture back panels for plasma and LCD televisions.
Officials said the building was originally developed as a build-to-suit project for Kojima by Murphy Development, with a development team that included Hack Adams, now a senior vice president with Westcore.
The privately held Westcore was founded in 2000 by Chairman Marc Brutten and invests primarily in industrial and office assets. The company has U.S. regional offices in San Francisco, Oakland, Sacramento and Denver, with two European offices.
By Lou Hirsh San Diego Business Journal