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by CareyBot

Westcore Properties LLC completed the sale of a 1.6 million-square-foot industrial portfolio in California's Silicon Valley for $352.5 million. Houston-based Hines Interests LP, a privately held development and property management company, acquired the 44-building portfolio of office, R&D, industrial and flex buildings in San Jose, Fremont, Foster City, Sunnyvale, Santa Clara, Redwood City and Campbell. "The sale of this portfolio was a tactical move for Westcore Properties," said Donald Ankeny, president and CEO of Westcore Properties. "A strong area of our team's expertise lies in identifying properties where value can be added, then renovating, repositioning and aggressively leasing space. We accomplished these objectives with this portfolio and felt that the time was right to sel...