2959 Thomas Place

2959 THOMAS PLACE, WEST SACRAMENTO, CA

2959 Thomas Place is a newly developed warehouse/distribution building in Southport Business Park that was built on a spec basis and recently sold to a large international company as an owner/user.   The attractive location in West Sacramento minutes from major freeway systems and the construction ideally suited a warehouse/distribution use attracted the interest of this corporate user.   The project offers 30’ clear heights, upgraded sprinkler/electrical systems, and ample dock doors.   The sale was achieved shortly after completion of construction.

Carlin Drive

3510 CARLIN DRIVE, WEST SACRAMENTO, CA

Carlin Drive is a 387,420 sf warehouse/distribution facility currently under construction that has been leased in its entirety to a Fortune 500 company on a build-to-suit basis.   The building’s advantages include 36’ foot clear heights, 43 per side, cross-dock layout, with 56’ interior column spacing. The location in Southport Business Park with access to international distribution corridors of I-5 and Highway 80 also helped attract the full building lease.

825 F Street

825 F STREET, WEST SACRAMENTO, CA

825 F Street is a warehouse/distribution building located in West Sacramento within minutes of Interstates 80, I-5, and downtown Sacramento.   Located in a fully enclosed, six building complex, this project was purchased at an attractive price and a capital improvement plan was implemented to improve its market appeal to tenants and owner/users.   Ridge Capital, Inc completed two new leases and then accomplished the sale of the building to an investor at attractive returns to the Fund.

879 F Street

879 F STREET, WEST SACRAMENTO, CA

879 F Street is a warehouse/distribution building located in a fully fenced six building complex in West Sacramento. This project was purchased out of bankruptcy working with the court, attorneys and the Trustee for the Debtor’s bankruptcy case. Ridge Capital worked with the Trustee to vacate the existing tenants related to the prior bankrupt owner and renegotiated a attractive lease with the remaining credit tenant, implemented a capital improvement plan and successfully marketed the building to procure a new tenant for the balance of the building. The building was then sold to an investor at an attractive return for the Fund.

Main Avenue Industrial

161 Main Avenue, Sacramento, CA

Napa Valley Crossroads

Napa, CA

Napa Valley Crossroads is a two building, state of the art industrial warehouse project catering to the Napa Valley wine industry. Located at the intersection of California State Highways 12 and 29, the project provides both high identity and ready access to the Napa Valley and Interstate 80. The project originated with the acquisition of three existing industrial buildings totaling 48,050 square feet plus 15.56 acres of land. The existing buildings were renovated, subdivided and then sold to a local craft brewery. Two high image industrial buildings (150,124 and 163,537 square feet, respectively) were designed and constructed on the remaining land. These new buildings were developed with construction specifications and architectural features designed to attract wine industry tenants. The project is leased to Trinchero Estate (Sutter Home), Collotype and Vinlux.

Seaport Industrial Center

2939 & 2885 Seaport Boulevard, West Sacramento, CA

Seaport Industrial Center consists of two state of the art industrial distribution facilities located in the Port of Sacramento Area Industrial Park, the area’s premier industrial business park. The 2939 Seaport Boulevard building contains 135,000 SF and became a build to suit for Raley’s institutional bakery. The 2885 Seaport Boulevard building features a cross-dock configuration and contains 182,000 SF. It is presently leased to PFX Pet Supply, Mission Foods, and Standard Register. Both buildings feature 30’ minimum clear height, ESFR sprinkler systems, ample truck doors, and generous maneuvering areas.

Tide Court Distribution Center

1680 & 1660 Tide Court, Woodland, CA

Tide Court Industrial Center consists of two state of the art industrial distribution facilities located on Tide Court in the City of Woodland. The 1680 Tide Court building contains 427,000 SF and became a build to suit for Advanced Marketing Services, Inc. The 1660 Tide Court was developed as a spec building and became 100% leased to Amerimax Building Products, Inc. and a third party logistics provider for Glidden Paint. These cross-dock buildings feature 30’ minimum clear height (1680 Tide Court is 32’ min.), ESFR sprinkler systems, ample truck doors, trailer drop areas, and generous maneuvering areas.

Laguna Creek Ranch Industrial Park

3132 Dwight Road, Elk Grove, CA

The Laguna Creek Ranch Industrial Park is a two-building industrial project located in Elk Grove, CA (a Sacramento submarket) that offers ready access to Interstate-5. The Company acquired the project off-market from Lincoln National Life Insurance Co, which had begun repositioning the project into a multi-tenant facility by demising the buildings into smaller suites. After acquiring the project, the Company continued repositioning it, and was successful in leasing it in smaller increments and securing higher rents than bulk space commanded, which increased the project’s current and pro forma capitalized value. After stabilizing the project, the Company decided to liquidate the property given aggressive market valuations at the time.

Commerce Business Park

165 – 193 Commerce Circle, Sacramento, CA

Commerce Business Park is a four-building warehouse/light industrial project situated in a prime Sacramento location, offering immediate access to Interstates 5 and 80, and state highways 99 and 160. The Company acquired the project from a large industrial REIT that was liquidating non-core assets it had acquired in a merger. The project suffered from significant deferred maintenance, mismanagement, and rents that were well below market.

The Company re-roofed and painting the buildings, re-surfaced the parking lot, and made a number of other physical upgrades to the project. To allow the buildings to be sold individually and capture the break-up value of the portfolio, Company negotiated lease buyouts with tenants representing 62% of the project’s leasable area, and recorded a reciprocal easement and maintenance agreement. The Company sold two buildings approximately 4 months after acquiring the project, a third building in 6 months, and the fourth building in 11 months.

Vista Business Park

539 – 541 Vista Boulevard, Reno, NV

Vista Business Park was built in 2006 and was designed as an industrial flex project consisting of two industrial buildings totaling 112,622 square feet and subdivided into condominium units. This project is located in Sparks, Nevada, which was hit hard by the recession. Balboa Value Fund purchased the remaining 6 condominium units and a 7.63 acre parcel in 2009 and in 2011 sold the land at an attractive price significantly reducing risk and the capital investment. Working closely with the brokerage community, Ridge Capital was able to procure buyers for the remaining condominiums, selling the last unit in early 2016.