Carlsen Investments LLC Sells Freeway-Facing Gold Pointe Corporate Center Building E
SACRAMENTO, Calif. – Sept. 17, 2020 – CBRE announced the $14.3 million sale of Gold Pointe Corporate Center Building E, a Class A office building located at 11919 Foundation Place in Gold River, Calif. The 63,206-sq.-ft. building is fully leased by eHealth Inc.
Randy Getz in CBRE’s Sacramento office represented the seller, Carlsen Investments LLC. Davies Torrance Trust, represented by Steve Tyrrell of Kidder Mathews, purchased the property in a sale that closed Sept. 3.
“Gold Pointe Corporate Center E presented a rare opportunity to acquire a fully leased, freeway-visible office property in one of Sacramento’s most desirable suburban locations. The enduring strength of the Highway 50 submarket is evidenced by the high concentration of institutional ownership throughout the corridor,” stated Mr. Getz, Executive Vice President, CBRE.
Developed in 2003 by Panattoni Development Company, Gold Pointe Corporate Center E is bordered on the north and west by Folsom South Canal and on the south by Highway 50. It is part of the larger Gold Pointe Corporate Center, which totals five buildings and 455,000 sq. ft. Common area amenities across the campus include a fitness center, bike lockers and showers, and an on-site café.
According to CBRE Research, healthy leasing activity and stable tenant demand are expected to continue throughout the greater Sacramento office market in the near term. The region is well-postioned for recovery due to its high concentration of durable jobs in the government, healthcare and financial services sector.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.