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Donna Hahn
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WESTERN STATES TECHNOLOGIES INC. MAKES SECOND
SAN DIEGO COUNTY ACQUISITION WITH CARLSBAD PURCHASE
SAN DIEGO, CALIF. - The Orange County office of Western States Technologies
Inc., a Los Angeles-based real estate investment firm, has acquired a 32,000-square-foot
industrial and corporate headquarters property located at 2283 Cosmos Court
in Carlsbad, Calif., for $3.3 million. The facility, purchased from the partnership
of Pence, Pisarik and Gerry, marks the company's second acquisition in the
San Diego market in the past 90 days.
Western States Technologies purchased its first San Diego County property
in January, a 32,000-square-foot industrial property at 10547 Viper Way in
the Mira Mesa Business Park, for $4 million. According to Todd Miller, a vice
president of Western States Technologies, the firm is actively pursuing additional
opportunities throughout the region.
"This transaction displays our aggressive focus on the San Diego market
as well as the product type we're seeking, namely high-tech or industrial
sites offering long-term potential," Miller said. "Our strategy
for this market includes the north and central areas, especially those occupied
by innovative firms requiring stand-alone office and industrial space. We
are currently reviewing opportunities that are similar to the Carlsbad property
and will continue to grow that segment of our portfolio in the near future.
The San Diego County expansion of our acquisition program is beneficial to
our goal of continuing to diversify our portfolio geographically."
The Cosmos Court building features a distinctive, white geometric exterior
design with grid panels of reflective glass on the first and mezzanine levels.
Located approximately two miles east of Interstate 5 just south of Palomar
Airport Road near the Palomar Airport, the high-tech facility is 100 percent
occupied by Next Proteins International. Next Proteins is an industry leader
in developing, manufacturing and distributing whey protein supplements and
foods.
Mike Austin of the Irvine, Calif., office of Sperry Van Ness represented both
Western States Technologies and the seller.
Western States Technologies was established in 1985 in Los Angeles. The company
concentrates on the successful development, acquisition and rehabilitation
of industrial and office properties. Currently, Western States Technologies
owns and manages a mixed-use portfolio totaling more than one million square
feet in Los Angeles, Orange, Riverside, San Bernardino and San Diego counties.
The company's tenants include such global business leaders as Baxter Pharmaceutical,
Dow Chemical, Gerber Technologies, International Paper, Jacuzzi, Kaiser Aerospace,
MCI WorldCom, Mikasa, Oakley, R.C. Cola, Rockwell International and Union
Carbide, among others. By incorporating its strong, hands-on asset management
approach, the company has averaged occupancy rates of more than 97 percent
portfolio-wide over the past five years.
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