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November 27, 2020
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Dignity Health Buys 28 Acres at Folsom Ranch Corporate Center

7/07/20

Dignity Health has purchased 28 acres of land at Folsom Ranch Corporate Center in the Sacramento area. This deal marks the first transaction at Folsom Ranch Corporate Center, a 240-acre, mixed-use development site.

Dignity Health intends to build a medical office building as phase one of a longer-term plan to develop a comprehensive medical campus. Construction on the medical office building is likely to begin in 2022.

Folsom Ranch Corporate Center is a part of the larger Folsom Ranch project. The corporate center site, comprised of four large parcels, runs from Prairie City Rd to east of East Bidwell and south of Hwy 50. The property, surrounded by oak tree studded hills, ponds and creeks, offers a tranquil and unmatched potential campus setting. It is directly across the freeway from Intel’s 1.3 msf R&D facility, which brought 6,000 jobs to the market.

Garth Hogan, Todd Eschelman, Joe Hamilton and Craig Brinitzer with NKF are the exclusive listing brokers on the 240-acre project. They represented the buyer and the seller, PCCP, in this deal.

According to Laurie Harting, Greater Sacramento Division CEO for Dignity Health, “This state-of-the-art medical office building will be an integrated hub that expands access to quality care services that are reflective of the growing needs of Folsom.”

Since breaking ground in 2017, over $200 mil has been invested on infrastructure to service the Folsom Ranch project. As of late 2018, approximately 600 building permits have been pulled by seven different home builders who are all now actively building and selling homes in proximity to the Folsom Ranch Corporate Center.

The Folsom office submarket posted a 4.3% vacancy in the Q2 2020, slightly lower than Q1 2020 vacancy rate of 4.5%, according to NKF research. Folsom had the lowest vacancy rate of the 22 submarkets in the Sacramento Region. Although net absorption was only 2.2k sf it brought the year-to-date total to 48.8k sf. Folsom benefits from a wide and diverse private sector user base and boasts one of the highest qualities of life opportunities in the region, according to NKF research.






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