ROSEVILLE, CA—Marking a venture's third class-A office acquisition in the area, developer Barker Pacific Group and investment firm WHI Real Estate Partners LP recently acquired Douglas Corporate Center located at 2901 Douglas Blvd. in the Douglas Corridor. Totaling 213,982 square feet, the two-building complex was purchased in auction for $36.5 million, GlobeSt.com learns.
This purchase brings the JV's office ownership in Roseville to slightly less than 600,000 square feet, making the team one of largest office building owners in the area.
“Douglas Corporate Center is another promising Roseville asset and we're excited to begin modernizing and managing the project,” says Michael Barker, managing director and CEO of Barker Pacific Group. “The complex has an impressive list of current tenants, including New York Life Insurance, Ernst & Young LLP and Kratos Defense. We see a great opportunity to add value to this property, and we look forward to further investing in the Roseville market. The city has been and continues to be an attractive office market and we're excited to play a larger role in the future of this emerging area.”
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