As part of our ongoing commitment to maintaining and improving CRIF’s properties, I am pleased to highlight the completion of an exterior renovation at our industrial building located in Rancho Cordova – Horn Road Commerce Center (“HRCC”). However, before diving into the details of the project, I’d like to take a moment to reflect on the property’s history.

CRIF acquired HRCC in June 2014, following the sale of Heritage Park Office Center in Dublin, CA, a full-service office building previously owned by CRIF that was converted to residential housing. The industrial facility was considered a classic “value-add” purchase opportunity and was listed at a competitive price due to its condition, which had been neglected for years. It was a project that required considerable TLC to restore the building to its fullest potential. Following a six-month extensive remodeling effort, the once weary building was transformed into a standout property in its market. Although the renovation took longer than initially expected, the results were worth the wait. In fact, by December 2014, our brokerage team had already seen interest from several companies eager to lease the building, proving the investment was starting to look promising.

One year after the purchase, CRIF secured a major tenant, Dal-Tile, marking a successful new beginning for the revitalized property. Dal-Tile began occupancy in July 2015, and since then, the property management team has fostered a positive relationship with the local Dal-Tile team over the past 10 years. This partnership was further solidified with a lease renewal in January 2023, for an additional 5-year term.

After nearly a decade of occupancy, the property was due for a refresh. In 2024, as part of CRIF’s capex spend, we undertook an exterior renovation project to give HRCC a modern update. The renovation included the installation of corrugated steel panels on the west facing side of the building and a contemporary color scheme, bringing a fresh, polished look to the property. These updates complement the original design changes made in 2014, enhancing the property’s curb appeal and ensuring it remains a premier location for industrial/warehouse tenants.

As part of the project, we chose to incorporate the red from Dal-Tile’s corporate logo as the property’s standout accent color on the building address numbers. Dal-Tile was very pleased with this choice and expressed their appreciation for our “elevated” design and color choices. This latest exterior renovation marks another successful chapter in HRCC’s story and stands as a tes­tament to the company’s long-term strategy of value creation through thoughtful upgrades and proactive management.