Lava Ridge Business Center — 3000-3010 Lava Ridge Court
Kingsbarn Real Estate Capital is pleased to present the opportunity to acquire a two-building, institutional-quality, multi-tenant office campus containing ±138,836 rentable square feet located in Roseville, California, Sacramento’s premier office submarket. The property is currently 90% leased to seven tenants with well-staggered lease expirations.
The Property is a Class A office building featuring an abundant total surface parking ratio (approximately 4.15/1,000 RSF), that underwent a $1.1-million capital campaign in 2015 to reposition the Property as modern office space desirable for any tenant requirements. The invested capital included
renovations to all of the lobbies, common areas, and an extensive exterior upgrade creating a new secondary entrance on the 3010 building. Office buildings of this scale and quality rarely come to market, especially in the highly sought-after South Orange County submarket.
The Property offers a strong, secure and growing income stream well into the future with fixed annual rental increases and nearly 75% of the rental stream not expiring until 2022 or beyond. 27042 Towne Centre has a favorable weighted average lease term of approximately 7.0 years remaining. Further upside can be achieved by the lease-up of the remaining vacancy of 16,936 square feet.
The Property is valued below the estimated replacement cost of $425 per square foot and at a discount to peak market sale comparables.
Lava Ridge Business Center Major Tenants
Roseville Market Overview
Lava Ridge Business Center is located just off of Douglas Boulevard, the main business arterial in Roseville that connects some of the best retail amenities in the area to a strong daytime employment population. Roseville is recognized as the premier suburban office submarket in the Sacramento region.
Overall diversity in its economy
An expanding population
An abundance of affordable housing
Close proximity to high-end executive housing
Low cost of doing business
Low quantity of remaining developable commercial land
High quality of life
#1 City To Raise a Family in California – SmartAsset 2017
#4 City Where Millennials Are Buying Homes in California – SmartAsset 2017
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All investment transactions are handled and cleared through First American Title Company, National Commercial Group.
Contact us about this investment opportunity at 800.242.1000