SACRAMENTO, Calif., Aug. 24, 2020 /PRNewswire-PRWeb/ -- GPR Ventures has closed escrow on the purchase of a 79,200 square foot property located at 1501 Aviation Blvd. in Lincoln. The building is currently 100 percent occupied by two tenants, including the local field office and repair center for business-jet aircraft developer Gulfstream Aerospace Corp. and Sacramento Valley RV, a family-owned RV service company. The acquisition is the 23rd purchase for GPR Ventures, whose total portfolio is primarily comprised of commercial developments in Sacramento County and Placer County.
"Lincoln is a thriving community with strong growth potential, and we are excited to expand our footprint further in Placer County and the region with this acquisition," said GPR Ventures co-founder and Managing Principal Phil Rolla. "The combination of a well-maintained building with a strong tenant base drew us to this property, and we are committed to actively supporting its upkeep."
"Sacramento holds a promising future, even in the midst of so much uncertainty for the industry," said Glen Yonekura, GPR Ventures co-founder and Managing Principal. "While many other major and mid-level markets are experiencing a downturn, Sacramento continues to grow and provide new opportunities, which is incredibly positive for the market."
Planned Capital Improvements
GPR Ventures expects to complete a full roof replacement in the coming weeks. Additional maintenance needs, such as asphalt repairs and HVAC replacement, will be completed as needed. Landscaping upgrades will include tree trimming to enhance visibility throughout the property.
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 66 buildings totaling over 2 million square feet and an additional 26 acres of land. For additional information, please visit GPRVentures.com or call (916) 921-5005.
SOURCE GPR Ventures
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