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11/15/16
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Fulcrum Properties closed on a sizable investment buy in the Sacramento area, paying $70 mil for University Research Park, a 17-building campus totaling 304.9k sf ($230/sf) in Davis. The property was 92% percent leased at the time of sale.
Located at 1440-1590 Drew Ave, 1850-2020 Research Park Dr and 1947 Galileo Ct, University Research Park is situated on 32.7 acres, roughly 15 miles west of downtown Sacramento. The buildings offer a mix of high-quality office, research and laboratory space. Major tenants include Novozymes, Marrone Bio Inovations and UC Regents.
The 17-building campus is located less than one mile from the University of California, Davis. The campus benefits from its close proximity to UC Davis, which provides access to its large student and faculty population as well as a direct link to the University’s fiber optic computer network. The property also offers convenient access to Interstate 80, nearby apartment buildings and Downtown Davis’ abundant retail market.
CBRE’s Russell Ingrum, Joe Moriarty, Tyler Meyerdirk, Sean Sullivan, Stuart Wright and Matt Post represented the seller, Interland LLC. Mike Stassi and Daniel Baker of CBRE’s Sacramento office provided leasing market expertise.
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