Rising Realty Partners (RRP) has joined forces with DRA Advisors to acquire a collection of six light industrial properties, totaling 531,308 square feet and spanning over 41 acres in Stockton and Tracy. Of the six properties, three are multi-tenant light industrial buildings while the remaining three are single-tenant Class B distribution facilities.
This acquisition marks RRP’s largest industrial portfolio under their ownership and management. With this addition, they now possess nine industrial properties within the greater Sacramento region.
According to Chris Rising, co-founder and CEO of RRP: “The strategic purchase of these assets is a valuable addition to our Northern California portfolio. We are grateful for this opportunity to add value in an industry that we know well.”
The recently acquired sites include 3728 Imperial Way, 3734 Imperial Way,
4730 Fite Ct.,4747 Frontier Way ,3727 Metro Rd.in Stockton,and
75 W.Valpico Rd.in Tracy.
These structures were built between1978and2006and currently boast an impressive occupancy rate of98%. In line with their growth strategy,RPP plans on implementing a comprehensive capital improvement plan for these properties.
This news was originally published by Connect CRE.
