New Residential Community on over 18 acres
Rocklin, Calif.- Cushman & Wakefield, a leading global commercial real estate services firm, arranged the sale of a fully entitled 397-unit garden-style multifamily development site on ±18.20 acres in Rocklin, California.
The site was acquired by Advanced Building Solutions (ABS), a full-service development and construction company based in Petaluma, California, for $19 million, or approximately $47,850 per unit. The seller was a joint venture of Tekin Development and Guardian Capital.
Located at 6250 W Oaks Blvd, near the border of Rocklin and Roseville and Highway 65, the new shovel-ready development is planned to consist of two construction phases, with Phase I totaling 237 units and Phase 2 totaling 160 units.
Jason Parr, Scott MacDonald, John Hansen, Sydney Ladrech, and Brayden Joel with Cushman & Wakefield’s Multifamily Advisory Group in Northern California represented both buyer and seller.
The Harper is situated at the corner of Lonetree Blvd and near Sunset Blvd, both key thoroughfares in Rocklin. The location is walkable or a short drive to many retail, dining and shopping amenities, and is directly across from a community park and near major employers and William Jessup University. The property is also conveniently accessible to Highway 65, which connects to Interstate 80.