Located at 8355 Aero Dr., the building encompasses 35,840 sf. It is one of three facilities that comprise CP Kelco's 63,445-sf complex in Kearny Mesa.
The Wilmington, DE-based producer of hydrocolloid products sold the 6.58-acre property to Westcore Industrial Properties in a $15.2-million, sale-leaseback deal that was announced this past January. Westcore paid $7.2 million for the asset, while CP Kelco inked a 10-year, $8-million lease to continue occupying the campus.
The firm uses the complex for its marketing, financial and supply chain operations, as well as various research activities involving areas such as fermentation genetics, fermentation metabolism, analytical science, biopoylmer science, food applications and industrial applications. In addition to office and laboratory space, the campus contains an extensive library.
In the recent sale of the 8355 Aero Dr. building, Westcore Industrial was represented in-house by Gary Katz and Marc Brutton. Matt Kelly of Burnham Real Estate Services and Mike Erwin of Business Real Estate acted on behalf of the buyer, Kelco-Wells LLC, which plans to hold the property as an investment.
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