Cushman & Wakefield Represents both Landlord and Tenant in Transaction
SACRAMENTO, Calif., November 16, 2018 – Cushman & Wakefield announced Penumbra, a global healthcare company, has signed a new lease for 157,518 square feet of Class A office space at the Roseville Innovation Park in Roseville (Sacramento), California. The property is owned by a joint venture between Farallon Real Estate Partners and Strada Investment Group. Ron Thomas, Chris Schwarze, Bruce Hohenhaus, and Kevin Partington with Cushman & Wakefield’s Sacramento office represented the landlord, and Ed Grammens of Cushman & Wakefield’s San Francisco office represented the tenant.
Located at 630 Roseville Parkway, Penumbra’s lease expansion will mark the company’s first entry into the Sacramento region, and their second office facility within Northern California as well as the U.S. The company, which focuses on innovative therapies, is headquartered in the East Bay city of Alameda, approximately 100 miles southwest of Roseville. Penumbra also has international office locations in Germany, Australia and Brazil.
Mr. Thomas, who also serves as the Managing Principal of Cushman & Wakefield’s Sacramento office, said, “Sacramento continues to offer great opportunity for both companies and investors alike, many of whom continue to be drawn to the region particularly from the Bay Area due to its proximity as well as quality real estate and affordable living. Penumbra’s expansion reinforces the strong appeal of Sacramento, and it is exciting they’ve selected our region to both establish and grow their presence.”
He added, “Roseville Innovation Park is a beautifully updated Class A project with unrivaled 20’ ceiling heights, numerous amenities, including retail, entertainment and residences, within a short distance, plus there is a planned outdoor recreation, dining, and break-out space currently in the works at the project. As one of the premier submarkets in the Greater Sacramento region, Roseville offers a wide variety of amenities, retail establishments, city services and recreational activities. Another significant benefit to the area is that its municipal-owned utility provides power to both businesses and residences at affordable rates.”
Located on Foothills Boulevard just south of Blue Oaks Boulevard, Roseville Innovation Park is part of the Hewlett Packard | Campus Oaks (HPCO) Master Plan, a mixed use community on ±375 acres. The campus offers excellent access to Highway 65, Interstate 80 and all major thoroughfares in the area. Roseville Innovation Park is well located approximately 20 miles northeast of downtown Sacramento & the State Capitol and just 25 miles from Sacramento International Airport.
Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures and markets medical devices and has a broad portfolio of products that addresses challenging medical conditions and significant clinical needs. Penumbra sells its products to hospitals primarily through its direct sales organization in the United States, most of Europe, Canada and Australia, and through distributors in select international markets. The Penumbra logo is a trademark of Penumbra, Inc. For more information, visit www.penumbrainc.com.
Farallon Capital Management, L.L.C. is a global institutional asset management firm founded in 1986. Farallon manages approximately $27 billion for institutions, including college endowments, charitable foundations and pension plans, and for high net worth individuals. Farallon employs approximately 200 employees. Farallon is headquartered in San Francisco and has offices in London, Singapore, Hong Kong, Tokyo and São Paulo. More information about Farallon may be found at www.faralloncapital.com.
About Strada Investment Group
Strada Investment Group is a vertically integrated San Francisco based real estate investment and development company with a proven track record of producing opportunistic returns in one of the most competitive real estate markets in the country. Strada was founded by experienced real estate professionals with a unique mix of high-level private and public sector experience. More information about Strada may be found at www.stradasf.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow@CushWake on Twitter.