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2/08/17
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In a recent Sacramento-area office buy, a joint venture between Barker Pacific Group (BPG) and WHI Real Estate Partners (WHIREP) has acquired Olympus Corporate Center, a Class A asset in Roseville, in a deal valued at $33.85 mil. The complex consists of four multi-tenant buildings totaling 195.7k sf ($173/sf).
Located at 3001, 3005, 3009, and 3013 Douglas Blvd, Olympus Corporate Center consists of four two- and three-story buildings located in Roseville’s highly desirable Douglas Corridor. Amenities at the project include an on-site fitness center and conference room.
Olympus Corporate Center boasts an impressive array of tenants, including Direct Technology, Granite Bay Development, KB Home, Gallelli Real Estate, Orange Hook, and UBS.
The asset is currently in very good condition, with minimal need for deferred maintenance. The new owners plan to make improvements to the lobbies and corridors.
The acquisition of Olympus Corporate Center is the BPG-WHIREP JV’s second foray into the Sacramento market, following its previous acquisition of Lava Ridge Business Center. As it did with Lava Ridge, the JV secured debt financing for this latest transaction from BBVA Compass. Chris Lemmon and Zac Collie of Newmark Cornish & Carey have the marketing assignment for the property.
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