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December 6, 2023
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Penumbra Inks Sacramento Area Expansion Lease for an Additional 96k sf of Office/Lab Space


Penumbra, a global healthcare company, has expanded into an additional 96.5k sf of Class A office / lab space in the Roseville Innovation Park in Roseville. The company’s new lease at 620 Roseville Pkwy will bring its total occupancy within the multi-building park to over 254k sf of Class A space.

In late 2018, Penumbra had initially leased approximately 157.5k sf in the neighboring 630 Roseville Pkwy building, a deal that had also marked the company’s first foray into the Sacramento region. The company, which focuses on innovative therapies, is headquartered in the East Bay city of Alameda, approximately 100 miles southwest of Roseville. Penumbra also has international office locations in Germany, Australia and Brazil.

Roseville Innovation Park is a Class A campus offering numerous amenities, including retail, entertainment and residences, within a short distance. Penumbra also has exclusive access to a newly installed outdoor recreation, dining, and break-out space at its 630 Roseville Pkwy address.

Located on Foothills Blvd just south of Blue Oaks Blvd, Roseville Innovation Park is part of the Hewlett Packard | Campus Oaks (HPCO) Master Plan, a mixed use community on 375 acres. The campus offers excellent access to Hwy 65, I-80 and all major thoroughfares in the area. Roseville Innovation Park is well located approximately 20 miles northeast of downtown Sacramento & the State Capitol and just 25 miles from Sacramento International Airport.

Roseville Innovation Park is owned by a joint venture between Farallon Real Estate Partners and Strada Investment Group. Ron Thomas, Chris Schwarze, Bruce Hohenhaus, and Kevin Partington with Cushman & Wakefield’s Sacramento office represented the landlord. Terms of the deal were not disclosed.

Thomas noted, “Sacramento continues to offer great opportunity for companies that may have ties to the San Francisco Bay Area due to its proximity as well as quality real estate and affordable living. As one of the premier submarkets in the Greater Sacramento region, Roseville offers a wide variety of amenities, retail establishments, city services and recreational activities. Another significant benefit to the area is that its municipal-owned utility provides power to both businesses and residences at affordable rates.”

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