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STAFF REPORT
THE NATOMAS BUZZ | @natomasbuzz
GPR Ventures announced today it has purchased an 84,537 square foot industrial property on the corner of Del Paso Road and Northgate Boulevard in Natomas.
The 4700, 4720 and 4740 Northgate Boulevard location includes both warehouse and office space and is already 98 percent leased out to 28 tenants. The purchase price for the property was not available at press time, but is valued at $7.6 million according to public Sacramento County tax records.
“The addition of this multi-building property provides a great opportunity to control that area of the market, which for us now spans three different projects and nearly 258,000 square feet,” said GPR Ventures co-founder and managing principal Phil Rolla. “Our increased presence in the Natomas submarket allows us to continue our proactive approach to property management and tenant relations, as we do with all of our properties.”
GPR Ventures already owns six adjacent buildings on Northgate Boulevard and two buildings along Main Avenue in neighboring Robla. The property, which closed escrow last week on Oct. 22, marks the 33rd overall acquisition for the firm, according to a press release.
“While the last two years have been a bit unsettling for businesses of all sizes, we have found that Sacramento’s industrial market continues to flourish, especially within the region’s submarkets,” said Glen Yonekura, GPR Ventures co-founder and managing principal. “As we look towards continuing to enhance our portfolio throughout the rest of the year, industrial properties will remain a key growth area for GPR Ventures.”
GPR Ventures has plans for some safety and cosmetic renovations across all buildings on the property, including updated lighting and new asphalt/striping in the parking lots.
Founded in 2011, GPR Ventures is a privately held real estate investment firm with offices in Silicon Valley and Sacramento.
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