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3/04/13
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CorVel Corporation has leased 23.8k sf of office space at Iron Point Business Park, a 210.9k sf complex in the NoCal city of Folsom, about 24 miles northeast of downtown Sacramento. Terms of the lease were not disclosed.
CorVel, a national healthcare manager headquartered in Irvine, will consolidate its Rancho Cordova and Gold River, CA offices into a single location on the third floor of Building 1180 of Iron Point Business Park. Cresa’s Robin Wherritt in Newport Beach represented CorVel in the lease negotiations, while Kris Reilly, Tom Walcott and Scott Bennett of Colliers International in Sacramento repped KBS.
Iron Point Business Park, consisting of five buildings on 15.7 acres, was acquired by KBS in 2011. Since then, KBS has signed over 120k sf in leases at the property, boosting occupancy from 38 to 62 percent.
Iron Point Business Park is situated along Hwy 50 in Folsom, considered one of the region’s most desirable submarkets for commercial and residential space. The campus includes twin one-story and two-story buildings built in 1999, and a three-story structure completed in 2001. In 2012, KBS upgraded the complex by expanding the onsite fitness and conference centers, and adding a 1k sf executive lounge.
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