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October 27, 2020
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Davies Torrance Trust Pays $14.3 Mil for Fully Leased Class A Office Building in Sacramento’s Highway 50 Corridor

9/21/20

Gold Pointe Corporate Center Building E, a 63.2k sf, Class A office building in Gold River, CA, was purchased by Davies Torrance Trust in a $14.3 mil ($226/sf) transaction. The building, located at 11919 Foundation Place, about 20 miles east of downtown Sacramento, is fully leased by eHealth Inc. It was sold by Carlsen Investments LLC.

Developed in 2003 by Panattoni Development Company, Gold Pointe Corporate Center E is bordered on the north and west by Folsom South Canal and on the south by Hwy 50. It is part of the larger Gold Pointe Corporate Center, which totals five buildings and 455k sf. Common area amenities across the campus include a fitness center, bike lockers and showers, and an on-site café.

Randy Getz in CBRE’s Sacramento office represented the seller in the deal. Steve Tyrrell of Kidder Mathews repped the buyer in the recent transaction.

“Gold Pointe Corporate Center E presented a rare opportunity to acquire a fully leased, freeway-visible office property in one of Sacramento’s most desirable suburban locations. The enduring strength of the Highway 50 submarket is evidenced by the high concentration of institutional ownership throughout the corridor,” stated Getz.

According to CBRE Research, healthy leasing activity and stable tenant demand are expected to continue throughout the greater Sacramento office market in the near term. The region is well-postioned for recovery due to its high concentration of durable jobs in the government, healthcare and financial services sector.






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