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CP Kelco Sews Up $7.2M Sale-Leaseback

KEARNY MESA, CA-The Wilmington, DE-based producer of hydrocolloid products sells its 63,445-sf corporate campus in Kearny Mesa to Westcore Commercial Properties and then inks a 10-year, $8-million leaseback as part of the transaction.

By Erin Cassin | Updated on January 15, 2003

KEARNY MESA, CA-CP Kelco, the Wilmington, DE-based producer of hydrocolloid products, has recently closed a sale-leaseback deal involving its corporate campus in Kearny Mesa.

The company has sold the complex for nearly $7.2 million to Westcore Commercial Properties, the San Diego-based affiliate of Westcore Industrial Properties that focuses on acquiring, redeveloping and expanding office and retail properties in the Western United States. Encompassing 63,445 sf, the campus consists of office and lab space that is housed in three different facilities. It stands on a 6.58-acre lot that is located at 8225/8355 Aero Dr.

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