1800 24th Street
1800 24th STREET, SACRAMENTO, CA
3685 Massie Court
3685 Massie Court, WEST SACRAMENTO, CA
3685 Massie Court is a build to suit warehouse/distribution project under construction in Southport Business Park for a major local packaging and logistics company. They were attracted by the convenient location near major interstate transportation arteries and deep water port. The project includes 48 trailer parking stalls and 26 dock doors, for abundant trailer and passenger areas for easy truck access. Ample skylights provide natural light, a 30’ clear height, ESFR sprinkler system and 2000 amp electrical service enhance this as an ideal distribution location.
3095 Mary Place
3095 Mary PLACE, WEST SACRAMENTO, CA
3095 Mary Place is a build to suit warehouse/distribution opportunity in Southport Business Park. The convenient location near major transportation arteries minutes from the West Sacramento deep water port is ideal for a distribution facility. The project offers 48 trailer parking stalls and 26 dock doors, for abundant trailer and passenger areas for easy truck access. Ample skylights provide natural light, a 30’ clear height, ESFR sprinkler system and 2000 amp electrical service.
3085 Mary Place
3085 Mary PLACE, WEST SACRAMENTO, CA
3085 Mary Place is a warehouse/distribution building under development in Southport Business Park. The building is conveniently located minutes from the West Sacramento deep water port, three miles from Highway 50/Interstate 80 and minutes from I-5 making it an ideal facility for warehouse or distribution. The project offers ample skylights, 38 dock loading doors and abundant concrete trailer and passenger areas, 30’ clear height, and ESFR sprinkler system.
3065 Ramco Steet
3065 RAMCO STREET, WEST SACRAMENTO, CA
3065 Ramco Street is a warehouse/distribution building under development in Southport Business Park. Its convenient location near major transportation arteries minutes from the West Sacramento deep water port creates an ideal distribution facility. Ample skylights provide natural light, while 18 dock-loading doors and abundant concrete trailer and passenger areas create easy truck access. Additional features attractive to users include a 30’ clear height, ESFR sprinkler system and 2000 amp electrical service.
3300, 3400, 3500 Douglas Boulevard, Roseville, Ca
Slate Creek Corporate Centre is located on Douglas Boulevard, the most prestigious address in Roseville. The project is conveniently located near numerous restaurants and retail centers and can be easily accessed from Interstate 80 or Highway 50. This attractive complex contains many amenities beneficial to tenants with an on-site deli, on-site management office, a fitness center and adjacency to a nature preserve. With recent investments in new roofs, an upgraded HVAC systems, and competitive lease rates, Slate Creek Corporate Centre is an ideal professional setting.
455, 555, 575, 601, 655, 701 University Avenue, Sacramento, CA
The six buildings in University Park Center offer the attraction of plentiful, nearby retail amenities, a park-like setting, American River bike trail access, close proximity to executive housing and a location easily accessible from all parts of Sacramento. Ridge Capital, Inc. has begun a significant capital improvement program including new HVAC units, building exterior and common area refurbishment, landscaping upgrades, as well as a complete renovation of the fitness center and conference center. Offering both single and two-story buildings, with spaces ranging from >1,000-15,000 square feet, there are a number of features attractive to office users.
1740, 1750, 1760 Creekside Oaks Drive, Sacramento, CA
Ridge Capital, Inc., acquired Creekside Oaks,an established business park conveniently located off I-5 near Interstate 80, minutes from Downtown. The complex offered a professional setting with numerous amenities appealing to prospective tenants. Upon acquisition, Ridge Capital Inc. completed a capital improvement strategy to increase the project’s operating efficiency and reduce expenses, including installing new HVAC rooftop units and new energy efficient roofs. Through a targeted capital improvement and leasing strategy, Ridge Capital, Inc. successfully brought the project to 100% leased and completed a sale of the project.
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.
10375, 10381, 10385 AND 10419 OLD PLACERVILLE ROAD, SACRAMENTO, CA
3030 Mulvany Place, WEST SACRAMENTO, CA
3030 Mulvany Place was a build-to-suit completed to allow the consolidation of Core-Mark International’s northern California operations. This recently developed 249,048 sf concrete tilt up warehouse/distribution facility was built to meet Core-Mark’s needs with 30’ foot clear heights, 55’ X 56’ column spacing and 38 dock high doors. In addition to the new custom built facility, Core-Mark was attracted by the close proximity to major transportation networks and the established business park environment.
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 vacated 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 outperforming investment projections for this project.
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 exceeding investment goals for the project.
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.
2951 Thomas Place
2951 THOMAS PLACE, WEST SACRAMENTO, CA
2951 Thomas Place is a recently completed warehouse/distribution building in Southport Business Park. The building’s ample skylights, 30 dock loading doors and abundant concrete trailer and passenger areas made it an ideal facility for an international furniture distributor, who purchased the building for their own use. The sale of this building was completed in late 2017, exceeding the business plan for this project.
10811 INTERNATIONAL DRIVE, RANCHO CORDOVA, CA
Ridge Capital, Inc. purchased this project, located in well-known Prospect Park, and completed repairs and upgrades including repainting the building exterior and completing ADA improvements in the parking areas. The ensuing marketing and leasing program resulted in a lease to a publicly traded company and the project was subsequently sold to an investor creating attractive returns to the Fund.
1830 L Street
1830 L Street, Sacramento, CA
1830 L Street is located in the heart of Midtown Sacramento. This area is known for popular restaurants, boutiques, and lofts attracting numerous tenants and residents. Ridge Capital, Inc. purchased this site as a former Laundromat. The lot has been cleared and leased on a long-term basis to a company backed by Anheuser Busch Corporation and they are developing a unique locally branded brewery, tasting room and restaurant. The building will be a striking design in keeping with its prominent mid-town location.
1200 R Street
1200 R Street, Sacramento, CA
1200 R Street is located in the heart of the vibrant R Street Corridor. The building was renovated into an office project capitalizing on the urban brick façade, high open beam ceilings and elevated patio overlooking R Street. The updated project was subsequently 100% leased to national and regional firms and sold to a private investor surpassing investment goals for this project.
3600 MASSIE COURT, WEST SACRAMENTO, CA
Massie Court was a newly developed 474,792 sf concrete tilt up warehouse/distribution facility that was leased prior to completion by Nor-Cal Beverage Co. The building attracted Nor-Cal with 36’ foot clear height, 50 X 56 ’ column spacing and 112 cross-dock loading doors. The building was appealing due to the physical features in addition to the convenient location minutes from the deep water port, three miles from Highway 50 / Interstate 80 and minutes from I-5.
2980 OATES DRIVE, WEST SACRAMENTO, CA
Oates Drive is a 203,946 SF warehouse/distribution building, developed in Southport Business Park. This project was
|We are pleased to let you know about several positive developments at 151 Blue Ravine Road in Folsom, CA. The majority of capital improvements have been completed and we are engaged in conversations with a publicly traded company regarding a purchase of the building. Below we provide additional detail relating to the project improvements, operation and leasing activity for the building.|
Sale and Leasing Activity
11130 Sun Center
Rancho Cordova, CA
11130 Sun Center
11130 Sun Center Drive, Rancho Cordova, CA
11130 Sun Center is a +/-30,000 square foot, one-story, single user office building located in an established business park. Purchased from a lender, Ridge Capital instituted capital improvements, landscaping re-hab and other physical upgrades to improve the project’s market appeal. These efforts resulted in a lease with a national tenant and an attractive subsequent sale to an investor.
|151 Blue Ravine Road in Folsom, CA continues to attract significant tenant and user attention in the market. We have completed a number of improvements designed to increase the building’s marketability, with additional improvements and planned upgrades underway. We have had active dialogue with several prospects, and are presently engaged with a high quality tenants. The activity and feedback from prospects about the project has been positive, and we are excited about the prospects for the building. Below we provide additional detail relating to the project improvements, operation and leasing activity for the building.|
The large demolition project to eliminate the outdated improvements used by California ISO, the former tenant, is now complete. The building interior is open, clean and brings the building to a “shell condition,” which makes two desirable building features – a seismically reinforced structure and high ceilings – visible to prospective users. The executive office area and main infrastructure – 4,000 amps of power, capacity for 976 tons of cooling, a 2,000 amp back-up generator and associated Automatic Transfer Switches are still in place. These features are also attractive to prospective tenants. To date, Tenant feedback has been positive for the layout and condition of the building.
Building Repairs & Maintenance
In addition to the demolition, other budgeted capital projects have been completed or are in process. In June we removed two unhealthy liquid amber trees and thinned 22 more (for safety and aesthetics). We are currently repairing the wood rafter tails to remove dry rot and seal the ends, and making roof repairs and have implemented a regular preventative roof maintenance and repairs plan. The building continues to show well.
2920 Kilgore Road, Rancho Cordova, CA
2920 Kilgore Road was a +/-50,000 square foot, two-story office building on a 3.477-acre parcel purchased in 2013 in Prospect Park – a prominent business park in Rancho Cordova, California. The building was home to a national insurance firm who had since vacated leaving tired and outdated tenant improvements. Ridge Capital undertook a significant demolition project to open floor plates and bring light into the building and upgraded the building lobby and restroom core. In addition to the interior work, Ridge Capital updated building access and exterior landscaping. This repositioning resulted in a sale to a Bay Area investment company and above targeted return for our investors.
We will keep you apprised of the state of our capital improvement plans and any leasing activity in future reports.
151 Blue Ravine Road, Folsom, CA
151 Blue Ravine Road was a successful Ridge Capital project. The site had a strong history of corporate tenancies but was in need of updating and several repairs. Situated on a 6.60-acre parcel in Lake Forest Tech Center – a prominent business park in Folsom, California the project was formerly occupied by Cal ISO the operator of the state’s electrical grid. The building offered infrastructure advantages, and Ridge undertook a major demolition project to open up the interior to show off the structure and high ceilings. In addition to the demolition, Ridge Capital completed several capital repairs including roof and rafter repairs, landscape work and concrete wall repairs. The building’s amenities combined with the open interior and upgrades attracted VSP a publicly traded company who purchased the building in January of 2014 at a significant profit to Blue Ravine investors.
519 – 539 Vista Drive
6121 Lakeside Drive
6121 Lakeside Drive, Reno, NV
Lakeside Plaza is a steel-framed, two story project situated in the most attractive office submarket in Reno. Control of the project was obtained in 2009 via a note purchase which was later foreclosed upon after a default. The building was in need of capital and lacked competiveness in the market due to its tired appearance. Ridge Capital created and implemented a capital investment and marketing plan to refresh the project making it attractive to users and the brokerage community. Occupancy was approximately 57% at purchase, and by 2015 the project had achieved 93% occupancy. A sale was completed with an investor at an attractive return for the Fund.
Northgate Business Center (Office)
4600 Northgate Boulevard, Sacramento, CA
Northgate Business Center is conveniently located minutes from Interstate 80 on Northgate Boulevard – a single story office building consisting of 36,115 square feet. Purchased from an out of town owner, who had failed to undertake basic repairs, Northgate Business Center was below 50% occupied upon purchase. Ridge Capital instituted an aggressive leasing program combined with targeted capital expenditures to bring the project to over 90% leased. The project was sold in 2014 at attractive returns to Fund investors.
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.
Golden Foothills Parkway
5190 Golden Foothills Parkway, El Dorado Hills, CA
The Golden Foothill Parkway Project is a two-story office building constructed in 1984. It is situated on a 1.9 acre, corner lot parcel at the entrance of one of the main business parks in El Dorado Hills, an affluent Sacramento suburb.
1094 West Maude Avenue, Sunnyvale CA
With convenient access to Highways 101 and 237 and in close proximity to several key amenities including Sunnyvale Town Center and the Caltrain, this project was widely considered a highly desirable address by tenants. The asset is 100% leased to Synopsys, a market leader in semiconductor design software.
Kaiser Medical Office Building
10305 Promenade Parkway, Elk Grove, CA
A design-build collaboration between the developer and Kaiser Project Management, new facility doctors and staff, design team and contractor for design, construct and fit out a 2 story, 65,000 square foot medical office building including Primary Medicine, Radiology, Pharmacy, Women’s Health, Pediatrics, Lab, and newly established Sports Medicine, clinics, as well as the Healthy Living store. The project was delivered with the new Kaiser standards below the typical Kaiser budget, setting an example they are excited to repeat with other new facilities.
Main Avenue Industrial
161 Main Avenue, Sacramento, CA
1851 Heritage Lane
4600- 4650 Northgate Boulevard
1851 Heritage Lane, Sacramento, CA
1851 Heritage Lane is a well located, multi tenant office project located in the popular Point West submarket of Sacramento. This two story, garden style project was approximately 50% leased at purchase with extensive deferred maintenance. Ridge Capital completed several capital improvement projects including interior corridor refurbishment, landscaping rehab and parking lot re-seal, and an aggressive leasing program was put in place which brought the project to 100% leased. The project was sold offering meaningful returns to investors.
3005 Gold Canal Drive
3005 Gold Canal Drive, Rancho Cordova, CA
The Golden State Water Company facility is a 12,800 square foot office/flex building located in Rancho Cordova, CA. The building was owned by a nonprofit organization, which used the property as a regional office for many years. After relocating to a new facility, the organization decided to liquidate the asset.
In June 2011, a broker with whom Ridge had a long-standing relationship notified the Company that Golden State Water Company (“GSWC”), an A+-rated subsidiary of a publicly traded utility company, would be interested in leasing the building if it were significantly improved (with the cost of those planned improvements approximately equal to the purchase price of the building). The current owner did not have the capacity to make the required improvements. While in escrow to acquire the property, the Company negotiated a 10 year lease with GSWC including the scope of the required site and tenant improvements.
11093 Sun Center Drive
11093 Sun Center Drive, Rancho Cordova, CA
The Sun Center Project is situated on a 2.86 acre, corner lot parcel, located at the intersection of Sun Center Drive and Kilgore Road in Prospect Business Park – one of the most prominent business parks in the Highway 50 Corridor. The project constructed in 1984 has the benefits of both warehouse space and ample parking at 4/1000. Ridge Capital purchased the building in January of 2012 and secured a long-term tenant shortly thereafter who subsequently purchased the building.
Northgate Business Center (Flex)
4610 – 4650 Northgate Boulevard, Sacramento, CA
Northgate Business Center is a six building flex-industrial complex conveniently located minutes from Interstate 80, Interstate 5 and the Sacramento Airport on Northgate Boulevard in Sacramento. Northgate Business Park is adjacent to numerous services and amenities including hotels, restaurants and shopping. The Project offers industrial/flex users a convenient environment with office and warehouse space, grade level roll up doors in a professional business environment.
Southport Business Park
Southport Parkway, West Sacramento, CA
Southport Business Park is a 670 acre master planned development in West Sacramento. Ridge Capital has 42 remaining acres in Southport Business Park which are fully entitled, comprised of heavy industrial, light industrial, business park, neighborhood commercial, mixed-use and high density residential land uses ready for sale, development or build-to-suit opportunities. Southport Business Park is home to numerous corporations including Safeway, Core-Mark, Bogel Wines, HD Supply and is conveniently located minutes from the deep water port, three miles from Highway 50 / Interstate 80 and minutes from I-5.
11031 Sun Center Drive
11031 Sun Center Drive, Rancho Cordova, CA
Located in Sacramento’s Highway 50 Corridor submarket, the 11031 Sun Center Drive office building consists of approximately 113,000 SF. When purchased by Ridge personnel in 2006, the 11031 Sun Center Drive building was in need of renovation. However, it was thought to be a fundamentally sound building with features including 5 per 1,000 SF parking, and 56,000 SF floorplates, which remain in high demand in the local market. While in escrow to purchase the property, a national insurance company tenant was secured for 100% of the building.
3001 Stender Way, Santa Clara, CA
The building is a two-story concrete tilt up R&D/Manufacturing containing 61,824 square feet which was purchased and a full rehab and repositioning was completed to take advantage of improving market conditions and the strong location of the building. Ridge team members completed extensive work including new elevators, replacing restroom cores, cut new windows, replaced the HVAC, replaced the roof and upgraded exterior architectural treatment to add interest. 3001 Stender was sold to a green energy technology company.
1561 Exposition Boulevard, Sacramento, CA
This three-story suburban office building was built on land reserved for expansion on Nationwide’s Sacramento area campus. Originally conceived as a corporate owned facility, this project became a build to suit for lease when Nationwide determined they needed a more flexible long-term real estate strategy. Ridge personnel worked closely with Nationwide to redesign the previous campus masterplan to permit a more modern and efficient facility. Although Nationwide only committed to lease 2 floors initially, they leased the third floor shortly after completion.
915 and 925 Highland Pointe Drive, Roseville
Highland Point was designed to be the premier Class A office project in Roseville’s rapidly growing Highway 65 corridor. Ridge personnel provided complete third party development management services for the entitlement, design, and construction of the project on behalf of a sophisticated private investor. The Highland Pointe project features typical design specifications demanded by Class A tenants including: 10’ finished ceiling heights, multi-story lobby feature, extensive glassline and natural light, park like landscaping. Current tenants include Rabobank, and eTrade Financial.
CalSTRS Corporate Headquarters
100 Waterfront Place, West Sacramento, CA
Located at 100 Waterfront Place in West Sacramento, the CalSTRS headquarters facility is a 409,000 square foot, 13-story office tower situated on a spectacular waterfront site in West Sacramento. Developed to serve as corporate headquarters facility for one of the nation’s largest pension funds, every step of the design and development process was taken with long-term operation and ownership in mind. The building features all of the modern amenities typically found in world class buildings of this type including: extensive security systems, underfloor mechanical and electrical distribution, enhanced energy management and lighting system. Upon completion, 100 Waterfront Place received a LEED Gold NC certification. Ridge Capital Inc. personnel provided complete development management services for the project and coordinated all aspects of the entitlement, design, budgeting, scheduling, construction, and occupany for the project.
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.
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.
Napa Valley Crossroads
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.
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.
1755 Plumb Lane, Reno, NV
Airport Plaza is a two-story multi-tenant professional office building situated directly across the street from the Reno International Airport. The project offers immediate access to Interstate 395 and is in close proximity to downtown Reno. The project involved extensive upgrades to the building and building systems, re-measuring the building to BOMA standards, and the negotiation of an extension of the ground lease term to 50 years. The targeted capital improvements significantly increased the project’s efficiency and reduced operating expenses. After completing the project renovation and re-leasing significant portions of the building, the company sold the project to a syndicated investment group.