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1/08/18
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Barker Pacific Group (BPG) and WHI Real Estate Partners L.P. (WHIREP) have acquired Douglas Corporate Center, a 214k sf, Class A office property in Roseville. The purchase, said to be worth somewhere in the mid-$30 mil range – is the venture’s third Class A office acquisition in the area.
Located at 2901 Douglas Blvd in Roseville’s Douglas Corridor, about 20 miles northeast of downtown Sacramento, the complex is in a convenient and desirable location for tenants and visitors. The purchase brings BPG and WHIREP’s office space ownership in Roseville to just under 600k sf, making them one of largest office building owners in the area. The venture’s other Roseville projects include nearby Olympus Corporate Centre and Lava Ridge Business Park.
Current tenants at the property include New York Life Insurance, Ernst & Young LLP and Kratos Defense. The new owners see opportunity to add value to the property through a modernization program.
No brokers were involved in the acquisition of Douglas Corporate Center—the joint venture purchased the property through auction, and secured debt financing from BBVA Compass Bank. Chris Lemmon and Zac Collie of Newmark Cornish & Carey will handle leasing for the property, continuing their relationship with Barker Pacific’s Roseville office portfolio.
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