Rising Realty Partners (RRP) has partnered with DRA Advisors to acquire a portfolio of six light industrial properties totaling 531,308 square feet on a combined 41 acres in Stockton and Tracy. Three of the properties are multi-tenant light industrial buildings, while the other three are single-tenant Class B distribution buildings.
The acquisition becomes the largest industrial portfolio owned and managed by RRP. The company now owns and manages nine industrial properties in the greater Sacramento region.
“Acquiring these properties is a strategic addition to our Northern California portfolio,” said Chris Rising, co-founder and CEO of RRP. “We’re grateful for the opportunity to unlock value in a sector and market with robust fundamentals and that we know well.”
The acquired properties include 3728 Imperial Way, 3734 Imperial Way, 4730 Fite Ct., 4747 Frontier Way and 3727 Metro Rd. in Stockton and 75 W. Valpico Rd. in Tracy.
Built between 1978 and 2006, the properties are 98% leased. RRP intends to implement a capital improvement plan.
Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.
The post Rising, DRA Partner on Industrial Portfolio in Stockton, Tracy appeared first on Connect CRE.
Gillian Executive Search is a leader in Industrial Development, Financing, Design and Construction recruiting. www.gessearch.com