The sale of four industrial properties totaling 91,000 square feet in Roseville reflects growing demand, the deal's broker said.
"Roseville's pretty hot, and the good inventory is going away fast," said Brian Barnes, a senior vice president specializing in industrial properties with Cornish & Carey Commercial Newmark Knight Frank. "There were multiple buyers who were interested."
The four properties in the Roseville Commerce Center are at 10556, 10560, 10600 and 10604 Industrial Avenue and were built between 2005 and 2007, Barnes said. At the time they were put up for sale in May, they were 40 percent occupied and now are 60 percent full, he added.
Seller KBS Capital, an investor out of Southern California, was disposing of its only industrial property in the region, though other divisions if the company own offices in Sacramento and Folsom, Barnes said. Buyer GPR Ventures, out of Campbell, is also familiar with the market, he said.
The sales price for the property was not disclosed.
"I think it's a good, clean, nice project, probably one where the buyer likes a long-term hold," he said. "I wouldn't call them a mom and pop, but they're very hands-on and able to make quick decisions with a property."
Barnes said he worked on behalf of the seller, while Todd Sanfilippo of CBRE worked on behalf of the buyer.
A fifth property in the complex was sold to an owner-user a few years ago.Download PDF