{"id":1004258639,"date":"2018-08-20T11:31:15","date_gmt":"2018-08-20T19:31:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004258639"},"modified":"2022-12-07T00:35:32","modified_gmt":"2022-12-07T08:35:32","slug":"ellis-partners-trades-45m-ca-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ellis-partners-trades-45m-ca-office-campus\/","title":{"rendered":"Ellis Partners Trades $45M CA Office Campus"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004258648\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004258648\" data-attachment-id=\"1004258648\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ellis-partners-trades-45m-ca-office-campus\/the-summit-at-douglas-ridge\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Summit at Douglas Ridge\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Summit at Douglas Ridge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg?w=800\" class=\"wp-image-1004258648 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/The-Summit-at-Douglas-Ridge.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004258648\" class=\"wp-caption-text\">The Summit at Douglas Ridge<\/p><\/div>\n<p>Vectra Management Group (VMG) has purchased The Summit at Douglas Ridge, a 185,541-square-foot Class A office campus outside Sacramento, Calif., for $44.5 million. The buyer financed the acquisition with $32.2 million in financing provided by Umpqua Bank.&nbsp;<\/p>\n<p>The seller, Ellis Partners, picked up the two buildings in December 2012 as part of a nearly 700,000-square-foot office portfolio valued at $73 million from Hines Interests, according to Yardi Matrix. Earlier this year, an Ellis-led joint venture <a href=\"https:\/\/www.commercialsearch.com\/news\/ellis-intercontinental-break-ground-on-bay-area-office-tower\/\">broke ground on a Class A office development<\/a> in Oakland, Calif.&nbsp;<\/p>\n<p>Located at 3721 and 3741 Douglas Blvd. in Roseville, the two three-story buildings are situated among a number of other low-rise office properties. Approximately 2 miles from Interstate 80, the asset is additionally accessible via a local bus route.<\/p>\n<p>The two buildings opened its doors in 2005 under the ownership of The Westerra Group. The campus is home to Care Innovations, McCarthy Building Cos. and Charles Schwab. The structures have a combined vacancy rate of 14.4 percent, according to Yardi Matrix data from August 2018.<\/p>\n<p><em>\u201cRoseville has experienced significant absorption and rent growth in recent years, with limited addition to supply,\u201d<\/em> said Raju Shah, managing director of VMG, in a prepared statement. <em>\u201cWe view this acquisition as a unique opportunity for us to acquire two best-in-class buildings in a highly sought after, supply constrained, dynamic submarket.\u201d<\/em><\/p>\n<p>The new owner has chosen Cushman &amp; Wakefield to manage the two buildings.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two buildings, located 20 miles northeast of Sacramento, contain approximately 185,000 square feet of Class A space. The properties last traded in late 2012.<\/p>\n","protected":false},"author":861,"featured_media":1004258648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,36080,15],"tags":[32799,33540],"class_list":["post-1004258639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-sacramento","category-west","tag-cushman-wakefield","tag-ellis-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ellis Partners Trades $45M CA Office Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ellis-partners-trades-45m-ca-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ellis Partners Trades $45M CA Office Campus\" \/>\n<meta property=\"og:description\" content=\"The two buildings, located 20 miles northeast of Sacramento, contain approximately 185,000 square feet of Class A space. 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