‘Kudos to Bryan and Bruce Wirt, and of course John Gallagher and his team, for their recent and highly visible successes in the Roseville/Sacramento CRE marketplace. It’s a clear indication of the significant momentum TRI Commercial is demonstrating in a highly competitive environment.’ – Tom Martindale, President
Bryan Wirt Closes an 82,688 sf shopping center in Sacramento
TRI Team gets 500,000 sf management assignment
“Rocklin and Roseville have benefitted more than any other Sacramento submarket this year”, says Wirt
SACRAMENTO—TRI Commercial/CORFAC International president Tom Martindale, SIOR, recently revealed that John Gallagher, CCIM, CPM and managing director with the firm, led the TRI team that won the 531,273-square-foot commercial property management assignment in the Sacramento suburban community of Rancho Cordova that includes 10 separate properties under one ownership group.
The property owner is Karlin Cap Center LLC and the building addresses for the offices are: 11000, 11010, 11020, 11030, 11040, 11050, 11060, 11070, 11080, 11090 on White Rock Rd., Rancho Cordova, CA.
The buildings were constructed in 1984 and 1985 and the campuses are known as Cap Center II and III. Located in the Highway 50 Corridor of the state capital area, it is the largest submarket in the metro area and comprised of approximately 14 million square feet of office inventory. The submarket is predominantly occupied by large-space office users which include back office operations for several national and regional companies.
“We’re naturally proud to have won the management assignment in a competitive environment and look forward to supporting the occupants of the building as well as the owners to achieve maximum efficiency of building operations and on-going tenant satisfaction with the space they respectively occupy,” Gallagher says.
In fact, Bruce Wirt, SIOR and SVP in TRI Commercial/CORFAC International’s Roseville office, exclusively tells GlobeSt.com that Rocklin and Roseville have benefitted more than any other Sacramento submarket this year.
“We’ve had quite a bit of positive absorption in Rocklin and Roseville the first half of this year for several reasons,” Wirt says. “With the recovering economy and rental rates finally increasing, we had some classic ‘flight-to-quality’ leasing activity. Plus, many of the decision makers live in these communities and they prefer shorter work commutes,” he says.
While the Rancho Cordova/Highway 50 market hasn’t been the busiest submarket in the Sacramento Metro market this year, the Rancho submarket does offer 25,000-to-50,000-square-foot floor plates to users at competitive prices, compared with the tonier neighborhoods in Roseville and Rocklin, says Gallagher.
A few of the bigger deals in Rocklin this year, according to Wirt, are: PG&E expanding into 38,000 square feet (consolidated from several locations); Liberty Mutual taking roughtly 50,000 square feet, relocating from the Point West submarket; and Rocklin Academy leasing about 40,000 square feet (a brand new charter school); they went into a building that had been vacant since 2007.
Some of the recent Roseville deals this year he mentioned include: Rabobank expanding into 83,000 square feet, from about 40,000 square feet; Solar City leasing 55,000 square feet; and SureWest in the process of selling its 200,000-square-foot campus to Bridgeway Church.
Owner/User Buys Flex Bldg in Roseville for $3.2 Million
Family Trust Sells 7501 Galilee
By Ann O’Brien
September 9, 2014
An individual owner/user purchased the flex building at 7501 Galilee in Roseville, CA from a private family trust for $3.2 million, or about $80 price per square foot.
The 39,775-square-foot building was constructed in 2002 on three acres of land in the Roseville/Rocklin Industrial submarket of Sacramento. It was 100% occupied at the time of the sale.
The buyers are doing business as Intech Mechanical Co. and plan to move into the building Q4 2014.
Jeff Pehrson of TRI Commercial/CORFAC represented the buyer. Walter Smyth and Todd Sanfillippo of CBRE represented the seller.
Please see CoStar COMPS #3098759 for more information regarding this transaction.
TRI Commercial/CORFAC International Property Management’s team recently announced that it had secured the winning bid to manage 531,273-square-feet of commercial property management in the Sacramento suburban community of Rancho Cordova. This assignment includes 10 separate properties under the ownership of Karlin Cap Center LLC and the building addresses for the offices are: 11000, 11010, 11020, 11030, 11040, 11050, 11060, 11070, 11080, 11090 on White Rock Rd., Rancho Cordova, CA.
One of Rancho Cordova’s largest office complexes is set to add several new leases in upcoming months. Capital Center II and III at 11000 to 11090 White Rock will be getting improved HVAC and safety systems, drought-resistant landscaping and even food trucks for existing tenants.
Reference Links
http://www.corfac.com/news-details.cfm?NewsID=1073
On behalf of the Roseville & Sacramento Offices we are pleased to welcome Jared Dong to our team.
Jared Dong
Before joining TRI Commercial Jared was with CB Richard Ellis form June 2004 to October 2006. He joined Terranomics Retail Services/Cassidy Turley in October 2006 representing both Tenants and Landlords in sales and lease transactions.
Specialization:
Jared specializes in Landlord and Tenant representation of existing shopping centers, acquisition and disposition of single tenant and multi-tenant retail assets, as well as ground-up retail development consulting and pre-leasing.
Jared Dong
Vice President
Direct: 916.669.4561
Fax: 916.231.1362
License #01478101
On behalf of the Roseville & Sacramento Offices we are pleased to welcome Bob Dong to our team.
Bob Dong
Prior to joining TRI Commercial, Bob worked for CB Richard Ellis for over 30 years representing national and regional developers, property owners and tenants in all phases of retail property development. Most recently he was with Terranomics/Cassidy Turley as a Senior Vice President/Partner from October 2006.
Specialization:
Bob specializes in the assemblage of land for development, new shopping center developments, re-tenanting and renovating existing centers, tenant representation, investment property sales, and site analysis, acquisition and disposition for major accounts.
Bob Dong
Sr. Vice President
Direct: 916.669.4560
Fax: 916.231.1335
License #00581221
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