GPR Ventures, a privately held real estate investment firm based in Sacramento and the Silicon Valley, has successfully completed several large capital improvements on a 140,000 square foot project in Gold River. GPR Ventures acquired the property in December 2016 with just a 40 percent occupancy rate and has since increased its tenancy to more than 80 percent occupancy. Six additional leases totaling 15,934 square feet were signed in November 2019.
“GPR Ventures takes a very active role in the maintenance and upkeep of all of our properties, with tenant relations one of our primary focuses,” said GPR Ventures co-founder and Managing Principal Phillip Rolla. “Over the last three years, we have completed a wide range of updates and state-of-the-art enhancements on this location, and we are proud to see a steady increase in the number of tenants who are able to benefit from these improvements.”
“Through careful planning, market analysis and professional partnerships, our team works quickly and efficiently to transform an under-performing or outdated property by making strategic improvements,” said Glen Yonekura, GPR Ventures co-founder and Managing Principal. “The end goal is to increase net value and ensure higher rates of return, as well as greater occupancy rates and long-term leases and tenancies as we’ve seen here.”
Over the past year, GPR Ventures has added a recreational lounge highlighted by a common break room area with a television, Wi-Fi access and coffee. The updated fitness center includes new cardio equipment, weight machines and a refurbished locker room with showers and other amenities. Tenants can also access a private covered patio with chairs, tables and large umbrellas for additional shade. The development also includes a café which will be occupied by local eatery Martin’s Tacos beginning in February 2020. The restaurant has agreed to a five-year lease.
The property located at 11344 Coloma Road in Gold River consists of eight two-story buildings and is situated less than five miles from Highway 50 and the American River. In three years of ownership, GPR Ventures has performed a wide range of improvements on all buildings, including new exterior paint, new front doors for all suites and improved LED lighting throughout the buildings’ exteriors. New handrails were installed on the stairs and second floor walkways, along with updated landscaping, new benches, and new trash receptacles.Download PDF