San Francisco, CA – San Francisco-based Ellis Partners LLC announced today that it has acquired a nine-property office portfolio in the business community of Roseville, California, which is showing positive signs of recovery.
The firm has purchased over 670,000 square feet of high-quality real estate spread across four different real estate clusters. Each is located along Douglas Boulevard – recognized as the most desirable corporate corridors in the region.
“We have been seeking investment opportunities in this region for some time and are excited to be entering the Roseville market,” said James F. Ellis, Co-Managing Principal of Ellis Partners. “We hope that our investment in these properties can play an important role in accommodating private industry and bringing more jobs to the community. We look forward to applying our expertise and resources to rapidly accommodate the needs of our current and future tenants.”
The project, which includes buildings in The Summit, Olympus Corporate Center, Roseville Corporate Center and Johnson Ranch, was acquired from Hines U.S. Core Office Fund. Ellis Partners has retained Cornish & Carey Newmark Knight Frank for exclusive listing representation. The team will be led by Chris Lemmon, Todd Eschelman and Zac Collie. Ellis Partners has retained Hines for all property management services.
“We are thrilled to work with the exceptional property management team at Hines and to be able to continue to provide the first class service our tenants are accustomed to in these quality assets,” said Melinda Ellis Evers, Co-Managing Principal of Ellis Partners.
All of the properties acquired by Ellis Partners are just 20 miles from the city center of Sacramento and are within a five-minute drive of one another.
The properties acquired are as follows:
- The Summit at Douglas Ridge, a two building complex considered to be one of the best commercial properties in the region.
- Olympus Corporate Centre, Ellis Partners has purchased four of the five buildings.
- Johnson Ranch Corporate Center, Ellis Partners has purchased an additional two buildings.
- Roseville Corporate Center, Ellis Partners has acquired this single building complex.
“Ellis Partners prides itself on investing in regions where early cycle growth is occurring and businesses are expanding,” Mr. Ellis added. “We will continue to look for attractive acquisitions in this region.”