National real estate investment and development firm plans individual land sales and build-to-suit development at premier West Sacramento business park
SACRAMENTO, CA – June 25, 2012 — Jones Lang LaSalle has advised Ridge Capital, Inc., in the purchase of +290 developable acres in Southport Business Park in West Sacramento, Calif.. Terms of the transaction, which closed June 21, were not disclosed. Ridge Capital, Inc., is a Northern California based real estate development and investment management firm with offices located in the San Francisco Bay Area and Sacramento.
Matt Lofrano, Bill Niethammer, Mark Demetre and Mike Zimmerman of Jones Lang LaSalle’s Sacramento office represented Ridge Capital in the purchase and will also advise the company in its future sale and development of the land.
Southport Business Park is the premiere industrial business park in the greater Sacramento area, and sits within a State Enterprise Zone offering state tax credits and other incentives. The project, which offers immediate access to Interstates 80 and 5 and California State Highways 50 and 99, is situated at a key distribution node. That location combined with the business-friendly City of West Sacramento has attracted prestigious tenants and owners including: Safeway, HD Supply, NorCal Beverage, Ply Gem, dbi Beverage, Old Dominion Freight, NorCal Produce, Cal Sierra Express, Jacmar and Nippon Shokken.
Strict development standards and CC&R’s insure that Southport will remain a great location for many years to come. The park is fully entitled and improved. Building permits simply require an easy design review process in advance of a submission to the City of West Sacramento.
Ridge Capital, represented by investment managers Carlo Mormorunni and Mike Diepenbrock, plans to make available for sale entitled parcels from three to 116 acres. Ridge will also entertain build to suit development. Sites can accommodate buildings from 20,000 to 2 million square feet.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.