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November 22, 2019
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Sacramento-Area Office Property Sells for $23.7 Mil

10/29/19

Iron Point LLC has purchased Natoma Station Corporate Center, a Class A, 102.8k sf multi-tenant office property in Folsom, about 20 miles east of Sacramento, for $23.7 mil, or $230/sf. Iron Point plans to occupy a portion of the property as the new corporate headquarters for two entities serving the logging and utility service industries: Mountain G Enterprises and Mountain F Enterprises.

The two-story property is located at 950 Iron Point Rd, in the highly desirable Iron Point Corridor of the Folsom submarket, less than a mile from the Iron Point Light Rail station and in close proximity to Folsom Premium Outlets, as well as a wide variety of shopping, dining, and entertainment options.

With the leases by Mountain G Enterprises and Mountain F Enterprises, the property is fully occupied. Other tenants at the property include a diversified mix of high caliber tenants such as Devry, General Dynamics, and Allstate.

Rocco Curci with Voit Commercial Real Estate Services represented Iron Point in the deal. Kevin Partington and Sean Mullen of Cushman and Wakefield repped the seller, PAC West Office Equities, an entity of Buzz Oates Real Estate.

“This was a tremendous opportunity to acquire a thriving property in the premiere, Class-A, office corridor of Folsom that is benefiting from continued job growth throughout the Sacramento region,” explains Curci, who notes that the Sacramento/Roseville/Arden/Arcade MSA posted a 1.9% increase in year-over-year job growth last month.






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