The structure in question once housed a Laundromat, but more than $1m was spent on securing it. Ridge Capital could use catalog printing in West Sacramento to showcase the qualities of its new building.
Michelle Azevedo, a senior executive at Ridge Capital, has told the Sacramento Business Journal:
“We’re in early stages with a number of prospective tenants. We’re looking at all options.”
The organization behind the purchase does not normally buy property for retail purposes. In the past, it has tended to focus on building up its ownership of industrial property and office space.
While the county assessor has made clear the building was constructed back in 1984, it has not been in use for a few years. This has reportedly been because of conflicts with the authorities over alleged violations. The property is approximately 4,500 square feet in extent.
Azevedo has commented that the building might have to be demolished. On the other hand, refurbishment may be sufficient for progress to be achieved.
The location is in the vicinity of a group of mixed-use developments. At the same time, it is in close proximity to centers of nightlife. As a result, Ridge Capital has a range of choices to make going forward.