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Olympus Corporate Center in Roseville Acquired in Joint Venture
ROSEVILLE, CA - The joint venture between Barker Pacific Group (BPG) and WHI Real Estate Partners (WHIREP) has acquired its second project in Olympus Corporate Center, a Class "A" office asset in Roseville, CA consisting of four multi-tenant buildings totaling 195,665 square feet. Olympus Corporate Center boasts an impressive array of tenants, including Direct Technology, Granite Bay Development, KB Home, Gallelli Real Estate, Orange Hook, and UBS.
Located at 3001, 3005, 3009, and 3013 Douglas Boulevard, Olympus Corporate Center consists of four two- and three-story buildings located in Roseville's highly desirable Douglas Corridor. The project is replete with amenities, including an on-site fitness center and conference room.
Following the trend set with its first Roseville project, Lava Ridge Business Park, the JV secured debt financing from BBVA Compass.
Chris Lemmon and Zac Collie of Newmark Cornish & Carey are acting as Olympus's leasing agents. Mr. Collie and Lemmon have intimate familiarity with the Sacramento market, and note that the asset is currently in very good condition, with minimal need for deferred maintenance. This leaves room to focus on improving the lobbies and upgrading corridors.
"Olympus Corporate Center is one of the most attractive campuses with outdoor plaza areas in the Roseville market," said Michael Barker, BPG's Managing Director and CEO. "The Roseville Office Submarket is the premier suburban office location in the Sacramento region, and our team is committed to providing office space for the market's diverse array of tenants."
The acquisition of Olympus Corporate Center is the BPG-WHIREP JV's second foray into the Sacramento market after the acquisition of Lava Ridge Business Center, and they are excited to make a further impression on the market.
"Olympus Corporate Center is a fabulous asset. We see great potential to increase value," said WHIREP's Jim Orth. "We are excited to continue our work in the Roseville market with Barker Pacific Group."
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