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6/12/18
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Rocklin Corporate Center, a two-building, 220k sf office complex in Rocklin, was purchased by Inverness Management LLC. Rocklin is situated about 23 miles northeast of Sacramento. The price was not disclosed.
The Class A property is located at 6020 and 6030 West Oaks Blvd, near Hwy 65 and I-80. Rocklin Corporate Center is 98% leased to a strong credit and nationally-recognized tenant roster that includes Liberty Mutual Insurance, SMA Solar Technology, PG&E, and Oracle.
Each of the property’s largest tenants represents different industries. This provides the buyer with stable cash flow and diversity. Rocklin Corporate Center is well-positioned to benefit from widely-anticipated near-term rent growth as market fundamentals continue to strengthen in both Placer County and the Greater Sacramento region.
NKF Capital Markets Vice Chairman Grant Lammersen, Director Tim Walling and Associate David Hosler represented the seller, Rocklin Corporate Center LLC, in the transaction. According to NKF, the property is considered the best in Rocklin due to its unique campus-like setting, institutional-quality construction, and central location near both employee and executive residences.
“Sacramento’s leasing market fundamentals have rapidly improved with seven consecutive quarters of positive absorption. In addition, active tenant requirements have increased by more than 25% in total square feet of active requirements year-over-year” said Lammersen. “In addition to Rocklin, submarkets such as Folsom, Roseville, Pointe West and South Natomas continue to experience this positive momentum.”
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