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Westcore Buys Mission Falls Business Park

FREMONT, CA-Two of the three buildings in the 128,000-sf park are empty. The new owner, which owns two other nearby parks, plans to meet the market by renovating and demizing the buildings into small spaces.

By Brian K. Miller | Updated on September 05, 2006

FREMONT, CA-The Mission Falls Business Park has changed hands. Westcore Properties of San Diego has acquired the three-building, 128,000-sf complex for $11.2 million. Last year, as part of a larger transaction, Westcore acquired two other nearby properties, Warm Springs Business Park and Fremont Business Center.

Mission Falls Business Park is an office and R&D development sits on 7.7 acres in and around the 47000 block of Warm Springs Road. Westcore director of acquisitions Neil Johnson tells GlobeSt.com that two of the three buildings are vacant. Those buildings will be renovated and demized into very small spaces, ranging from 1,500 sf to 4,000 sf, which is what drives that market, he says.

“We have two other properties on Warm Springs Road within a half mile of this property that we picked up in spring 2005,” he says. “Both had vacancy and a bunch of rolling space. One is now full and the other is 85% leased, so we understand what’s leasing there.”

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