• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Westcore Properties snags $100M loan for massive Azusa redevelopment project

Marc Brutten, founder of Westcore and the redevelopment site (Credit: Google Maps)

Marc Brutten, founder of Westcore and the redevelopment site (Credit: Google Maps)

Investment firm Westcore Properties has landed a $100-million loan to build a massive car dealership and rental facility at a large industrial property it purchased in Azusa in February.

Bank of America provided the financing.

Westcore wants to build the dealership and rental facility with 188,950 square feet. The site at 555 Danlee Street now includes seven buildings, with 47,000 total square feet of space over 4.4 acres of land. The San Diego-based firm intends to keep the existing structures, though it also applied for a minor use permit.

The company paid $8.8 million for the property, records show. The seller was Heppner Hardwoods Inc., which had used the site for 35 years.

Westcore Properties did not return requests for additional details on the redevelopment plan. The firm was founded in 2000 by Marc Brutten, and now manages more than 20 million square feet of commercial real estate around the country, according to its website.

The overall industrial market in the San Gabriel Valley has been thriving. Earlier this year, Proficiency Capital sold the shovel-ready Canyon City Business Center development in Azusa for $47 million. The project calls for 462,500 total square feet.

Lagunitas Brewing Company is also building a 342,600 square-foot industrial site in Azusa, and last year Rexford purchased a 65,000-square-foot warehouse for $12 million about four miles south.

Powered by WPeMatico

  • 05 June 2019
  • The Real Deal
  • Uncategorized
  •  Like
Raintree Partners spends $79M on Glendale multifamily portfolio →← Why CEO churn in the resi business is hitting new highs
  • Recent Posts

    • Is CEQA win first shot at a broader overhaul for resi market?   July 5, 2025
    • Hankey finances bargain-bin hotel buy near SF’s Union Square July 3, 2025
    • Industry group flails as CEQA adjustments hit California builders unevenly July 3, 2025
    • Orange County office tower sells for discounted $19M July 3, 2025
    • City to deploy $425M of “mansion tax” money in record spending plan July 3, 2025
  • Recent Comments

    • Archives

      • July 2025
      • June 2025
      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM