press releases
GPR Ventures continues U.S. expansion with first Texas acquisition
October 25, 2022

California-based real estate firm purchases 204,000 square foot industrial property in Midland

GPR Ventures is making its mark in Texas, with the purchase of a 204,337 square foot industrial warehouse in Midland, which will serve as an industrial and public storage building. The 49-unit building is currently 91% occupied, with 35 tenants. Though this marks GPR Ventures’ 45th overall acquisition since 2011, this is the company’s first-ever purchase in Texas. Located at 2703 W. Industrial Ave., the new acquisition is just minutes away from Highway 20 and centrally positioned within the city.

“At GPR Ventures, we focus on maintenance and upkeep of our properties, with tenant relations as one of our top priorities,” said GPR Ventures co-founder and Managing Principal Phillip Rolla. “We plan to immediately execute several capital improvements, including new paint and signage, and look forward to building great relationships with the current tenants.”

Small Town, Big Charm

Midland consistently ranks as one of the top places to live in Texas due to its fast growth, strong oil and natural gas industry, and unique combination of big-city charm and small-town culture. Midland is also home to two colleges, including a Texas Tech University campus.

Planned Capital Improvements

GPR Ventures plans to invest over $200,000 in interior and exterior capital improvements, including preventative roof maintenance, fresh paint to update the building’s appearance and visibility, and the addition of exterior stairs to improve unit accessibility. Lighting upgrades and improvements to common-area restroom are also in the plans.