Purchase of Stockton building marks real estate firm’s 46th overall acquisition since 2011 and its first entry into the Central Valley Market
GPR Ventures, a privately held real estate investment firm, has acquired its first property in California’s Central Valley – a four-unit, 26,624-square-foot industrial building in the southeast corner of the City of Stockton. The building is 75% leased. The purchase marks the 46th overall acquisition since the company was founded in 2011.
“Stockton is a prime location for our expansion into the Central Valley, and we are in the process of repositioning this property to lease quickly at market rates following a series of planned upgrades,” said GPR Ventures co-founder and Managing Principal Phillip Rolla.
Located at 3731 Metro Drive, the property is conveniently located in a large industrial park immediately adjacent to Highway 99 and the Stockton Metropolitan Airport. The location provides ready freeway access to Sacramento to the north and the San Francisco Bay Area to the west. The City of Stockton is also served by extensive intermodal rail facilities and the deep-water Port of Stockton.
The company plans to add a new roof and repaint the building, along with repairing asphalt, refreshing landscaping and installing new building signage. Darren McFadden with Lee & Associates is the leasing agent.