SACRAMENTO, May 10, 2021 /PRNewswire-PRWeb/ -- GPR
Ventures has completed its 30th total acquisition since 2011 with a
multi-market purchase of joint properties in Sacramento and Reno,
Nev. Given the unique, dual-market nature of the
acquisition, the firm formed a new business entity, NV Sac GPRV
Partners 29, LLC, to facilitate the joint purchase of the two
industrial properties. The Sacramento asset is a 26,400 square foot
building located at 6910 Luther Drive, while the second asset in
the portfolio is a 20,000 square foot property at 56 Coney Island
Drive in Sparks, Nev. Both
buildings are 100 percent occupied.
"We are excited to continue expanding the GPR Ventures footprint
across the Western United States,
which is a key goal for our company over the next five years," said
GPR Ventures co-founder and Managing Principal Phil Rolla. "The joint purchase of these two
properties will allow us to maintain a strong presence in two
thriving industrial markets, and we look forward to contributing to
both communities through these acquisitions."
TWEET THIS: Real estate firm #GPRVentures has completed a
multi-market acquisition of joint properties in Sacramento and Reno. The company closed escrow on two
industrial properties, each of which is fully occupied by multiple
tenants. https://gprventures.com/ #business #realestate
About 6910 Luther Drive, Sacramento
The single-building industrial warehouse acquisition is comprised
of 12 separate units and is fully occupied with long term stable
tenants, most of which are in the automotive industry. Each suite
is equipped with its own secure access, rear loading area, front
entrance reception space, bathroom and warehouse space. The
property includes a 2,400 square foot paved yard with secure
fencing and is situated on a 1.76-acre lot.
The property is centrally located in between Highway 99 and
Interstate 5 and is minutes away from two Sacramento light rail stations.
About 56 Coney Island Drive, Sparks
GPR Ventures' second acquisition in the Reno market is a single-building industrial
warehouse that is fully occupied with three different tenants,
including local automotive repair shop Lancaster Auto Care &
Customs. The building's location off S. McCarran Blvd provides easy
access to Interstate 80.
GPR Ventures closed escrow on Thursday,
May 6, and plans to complete minor capital improvements on
both properties. Zac Sweet, Senior
Vice President with CBRE's Roseville office, helped broker the
Sacramento sale and Eric Bennett, Senior Vice President for CBRE in
Reno, helped broker the Coney
Island Drive purchase.
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 85 buildings totaling nearly 3 million square
feet and an additional 26 acres of land. For additional
information, please visit GPRVentures.com or call (408)
559-3300.
Media Contact
Amanda Allnutt, Merlot Marketing,
Inc., 916-285-9835, gprventures@merlotmarketing.com
SOURCE GPR Ventures