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May 18, 2024
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Sierra Pacific Mortgage Inks New Office Lease at Folsom Biz Campus


Sierra Pacific Mortgage signed a new HQ lease for 29.2k sf of space at Iron Point Business Park in Folsom, CA, about 24 miles northeast of downtown Sacramento. Sierra Pacific, a national mortgage lender, is relocating from within the office campus.

Iron Point Business Park is a five-building office complex located along Hwy 50, adjacent to the 1.5 msf Intel Corporation campus. The 211k sf property was constructed between 1999 and 2001 and acquired in 2011 by KBS, who has since signed more than 66k sf in new and renewal leases. KBS is in the process of renovating building exteriors and interiors including lobbies and common areas, conference rooms and the onsite fitness center.

KBS and affiliated companies own four additional equity assets in the Sacramento area, including University Park, City Gate Plaza, Gateway Corporate Center I & II in Sacramento, and Roseville Commerce Center in Roseville for a total of more than 767k sf.

Mike Stassi with CBRE in Sacramento was the tenant broker, while Kris Reilly, Tom Walcott and Scott Bennett of Colliers International, also in Sacramento, represented KBS. KBS Strategic Opportunity REIT is a public, non-traded real estate investment trust that invests in and manages a diverse portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments.

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