Cushman & Wakefield brokers new 96,505 sf lease transaction
SACRAMENTO, Calif., August 9, 2021 – Cushman & Wakefield announced Penumbra, a global healthcare company, has expanded into an additional 96,505 square feet of Class A office / lab space in the Roseville Innovation Park in Roseville (Sacramento), California. The company’s new lease at 620 Roseville Pkwy will bring its total occupancy within the multi-building park to over 254,000 sf of Class A space.
Roseville Innovation Park 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.
In late 2018, Penumbra had initially leased approximately 157,500 sf in the neighboring 630 Roseville Pkwy building, a deal that had also marked the company’s first foray into the Sacramento region. 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.
“It’s been very exciting to be part of Penumbra’s establishing and now further expanding operations within the Roseville Innovation Park and within the Sacramento market as a whole,” said Ron Thomas, Executive Managing Director. “It is also further indicative that as company’s continue to carefully strategize around their workplace decisions in order to meet their future employee and business growth needs and objectives, that they are still in need of office space.”
Thomas added, “Sacramento continues to offer great opportunity for companies that may have ties to the San Francisco Bay Area due to its proximity as well as quality real estate and affordable living. 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.”
Roseville Innovation Park is a Class A campus offering numerous amenities, including retail, entertainment and residences, within a short distance. Penumbra also has exclusive access to a newly installed outdoor recreation, dining, and break-out space at its 630 Roseville Pkwy address.
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.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.
Farallon Capital Management, L.L.C. is a global institutional asset management firm founded in 1986. Farallon manages approximately $38 billion for institutions, including college endowments, charitable foundations and pension plans, and for high net worth individuals. Farallon employs approximately 240 employees. Farallon is headquartered in San Francisco and has offices in London, Singapore, Hong Kong, Tokyo and São Paulo.
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.
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.