FREMONT, Calif. – Jan. 21, 2015 – Indicating continued strong demand for industrial space in the East Bay commercial marketplace, Westcore Properties secured a 10-year lease extension with JC Paper for the entire 214,809 square feet of warehouse space at its 47422 Kato Road property in Fremont.
Constructed in 1997, the Kato Road complex was acquired by Westcore Properties in 2012. It is ideally located on the east side of Interstate 880. Westcore Properties sold a 254,000-square-foot industrial building on the property to Homelegance in December 2013, and recently commenced construction on a 302,400-square-foot warehouse building also on the property that will be completed in late-2015. Westcore Properties currently owns approximately 3.5 million-square-feet of commercial property in the Bay Area/Silicon Valley.
“We’re delighted to continue our partnership with JC Paper, ensuring a strong tenant for this property for the next decade,” said Don Ankeny, president and CEO at Westcore Properties. “The industrial market here is hot and this project is ideally situated near a major transit route. We are actively engaged in other large deals planned for this area.”
In business since 1956, JC Paper has served the northern California and northern Nevada markets for printing papers, janitorial supplies, foodservice products and packaging items. The building was originally constructed for their occupancy in 1997.
JC Paper was represented by Mark Clarke, chief operating officer of the company, in the lease renewal. Westcore Properties was represented by Director of Leasing Meghan Sandlin. Terms of the deal are not disclosed.
About Westcore Properties
Westcore Properties is a private, entrepreneurial commercial real estate investment firm with a specialized focus in the western United States and key European markets. Since its founding in 2000, Westcore Properties and its affiliates have acquired and managed more than $4 billion in industrial and office assets comprised of more than 750 buildings totaling over 35 million square feet. In addition to its U.S. headquarters in San Diego, Westcore Properties has regional offices in San Francisco, Oakland, Sacramento and Denver. The firm’s European offices are located in Berlin, Geneva, and London.