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Article: Union label. (Real Estate).(Multi-Employer Property Trust has purchased a portfolio of 32 industrial buildings in the Western U.S. totaling 2.3 million square feet from San Diego-based Westcore Industrial Properties LLC )(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- July 7, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Multi-Employer Property Trust has purchased a portfolio of 32 industrial buildings in the Western U.S. totaling 2.3 million square feet from San Diego-based Westcore Industrial Properties LLC for $115 million. More than 1.9 million square feet were in Los Angeles County.
Included in the portfolio were 1.3 million square feet of City of Industry buildings and 621,000 square feet in the downtown and Mid-Cities markets like Commerce and Vernon.
The purchase will add to MEPT's substantial stake in Southern California industrial real estate. Before the most recent purchase, about 20 percent of the Washington D.C.-based union fund investor's 29.6 million ...
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