GPR Ventures Acquires Two-Building Flex Warehouse Space in Sacramento for $2.5MM

(EDITOR’S NOTE: According to public documents filed with the county, the sale was completed on September 22nd, and the sale price was $2.5 million, or around $74 per square foot.)

Multi-tenant property is firm’s 24th acquisition in Northern California

SACRAMENTO, Calif., Sept. 23, 2020 — GPR Ventures has closed escrow on its 24th acquisition in Northern California with the purchase of a 33,719 square foot flex warehouse space located at 110-120 Main Avenue in Sacramento. The property is currently occupied by seven tenants from a variety of industries, and it features a combination of dedicated office space and warehouse and storage facilities. The well-maintained property requires no capital improvements, which allows GPR Ventures to focus on increasing occupancy with one or more additional tenants.

“We are very excited to continue growing our Sacramento presence with this acquisition, which adds several unique benefits to our portfolio,” said GPR Ventures co-founder and Managing Principal Phil Rolla. “The combination of office and warehouse space within one property offers a lot of advantages to the current tenants as well as opportunity for new leases.”

“This property has a strong tenant base with an outstanding occupancy history, which was very attractive to us,” said Glen Yonekura, GPR Ventures co-founder and Managing Principal. “It indicates the steady nature of the Sacramento market, especially as many other major and mid-level markets are still in a state of uncertainty.”

Key Features 
The property is situated in a business park setting with lush landscaping and walking paths. Buildings at the rear of the property feature large, roll-up doors and loading areas, while the front entrances are highlighted by large windows.

GPR Ventures will immediately focus on increasing tenancy at the property from its current 73% occupancy rate. 

About GPR Ventures 
Founded in 2011, GPR Ventures is a privately held real estate investment firm with offices in Silicon Valley and Sacramento that specializes in providing real estate opportunities for a select group of sophisticated investors. GPR Ventures uses a dynamic, fully developed process and the acquisition-to-disposition expertise of founders Glen Yonekura and Phillip Rolla to yield consistent results. GPR’s portfolio includes 68 buildings totaling over 2 million square feet and an additional 26 acres of land.

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