Industrial investor Westcore had an impressive 2020, acquiring $1 billion in industrial assets that totaled 11 million square feet. The firm's holdings now span 10 states in the US.

Westcore closed the year with the acquisition of a 4-million-square-foot industrial portfolio from USAA Real Estate. The portfolio—which was purchased for an undisclosed amount—is located in nine markets across the US, including Atlanta, Chicago, Houston and Denver, among others. The average property size is 240,015 square feet.

The properties in the portfolio are all new construction, built between 2017 and 2020. The assets are 71% leased, and the majority of the vacancy exists in newly constructed properties within the portfolio. The vacancy creates significant opportunity to drive value through lease-up and improved rents.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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