SACRAMENTO, Calif., Jan. 5, 2021 /PRNewswire-PRWeb/ -- GPR Ventures has closed escrow on a light industrial property totaling nearly 200,000 square feet in South Sacramento. Located at 7000 Franklin Blvd., the new acquisition is comprised of 11 buildings with a mix of office and warehouse space and is the firm's 27th overall acquisition. GPR Ventures closed escrow on the property on December 31 and will immediately begin significant capital improvements across the entirety of the property. Since closing, the firm has already increased tenant occupancy from 44 percent to 56 percent.
"We were drawn to this property because of its great redevelopment opportunity, and it's wonderful to start the new year by adding this significant acquisition to our Sacramento portfolio," said GPR Ventures co-founder and Managing Principal Phil Rolla. "As with all of our properties, we plan on taking a very hands-on approach to the management of the property and our planned enhancements will provide a refreshed and updated environment for the existing tenants."
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"The Sacramento market continues to flourish and is poised to keep attracting new attention from businesses and individuals throughout the foreseeable future," said Glen Yonekura, GPR Ventures co-founder and Managing Principal. "In anticipation of further industrial and commercial growth in the area, we are excited to invest in this exceptional property and make it a prime destination for additional tenants."
Planned Capital Improvements
GPR Ventures plans to execute significant renovations and upgrades across all buildings on the property, beginning with new exterior paint and trim, replaced awnings and updated lighting. The parking lot will be completely resealed and restriped, while new signage and landscaping will be installed.
For more information on GPR Ventures and its complete portfolio, visit https://www.gprventures.com/.
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 81 buildings totaling over 2 million square feet and an additional 26 acres of land. For additional information, please visit GPRVentures.com or call (408) 559-3300.
Amanda Allnutt, Merlot Marketing, Inc., 916-285-9835, [email protected]
SOURCE GPR Ventures