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September 29, 2023
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SACRAMENTO NEWS
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Sacramento Area Office Building Sells for Over $10 Mil

2/10/23

A 69.4k sf office building in Rocklin, CA traded for $10.24 mil, or $148/sf. The two-story, Class A building, located at 1400 West Stanford Ranch, was acquired by an unnamed government agency.

Constructed in 2007, the building sits on an oversized 5.7-acre parcel with 327 surface parking spaces. The property also includes excess land that allows for multiple uses and the addition of 97 parking spaces. Verifone, an end-to-end payment and commerce solutions provider, occupies 12.6k sf and the new owner will occupy the balance of the building.

Situated five minutes west of Hwy 65 on the southeast corner of Stanford Ranch and Sunset Blvd, the building provides tenants quick access to employee/executive housing and abundant retail amenities within a 10-minute drive, including Blue Oaks Town Center, Westfield Galleria Mall, and The Fountains.

CBREs Matt Post, Sammy Cemo, Kevin Larscheid, and Scott Rush represented the seller, Stanford Ranch Properties LLC.

In the fourth quarter of 2022, the Sacramento office market posted its second consecutive quarter of positive net absorption since the onset of the pandemic, according to CBRE Research. The Roseville/Rocklin submarket recorded 28.4k sf of positive net absorption and a 12.2% total vacancy rate in the quarter.




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