Graceada Partners Acquires Fully Occupied Industrial Property In Elk Grove For $30.5M

Modesto-based Graceada Partners has purchased a three-building, fully occupied industrial property in Elk Grove. The property spans 300,000 square feet and was sold for a total of $30.5 million. The transaction aligns with Graceada's focus on multi-tenant industrial properties, offering value and potential lease rate adjustments. The low vacancy rates in the area, coupled with limited new supply, provide confidence in the investment.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $30,500,000
• Square Footage: 300,000
• Address: 3132-3200 Dwight Road, Elk Grove
• Market: Elk Grove

Graceada Partners, represented by Jon Salzberg, facilitated the acquisition of the industrial property. The seller, Eskanos Ventures LLC, entered into the transaction with the assistance of Cole Cummings, Matt Alemania, and Mike Smith from Newmark. With the purchase of this fully occupied property, Graceada Partners aims to capitalize on the limited supply of new industrial spaces in the area and explore potential lease rate adjustments.