Sacramento, CA (March 2, 2023) — Newmark 1 announces Solidigm, a leading global semiconductor company, has signed a 170,000-square-foot lease at White Rock Corporate Campus, a five-building, premier suburban office in the Highway 50 Corridor in Rancho Cordova, California. The location will serve as Solidigm’s new headquarters.
Newmark Executive Managing Director Todd Eschelman, Senior Managing Director Kirk Lange and Director Jack Blackmon represented the landlord, Basin Street Properties, a Reno-based real estate development and operating company, and the largest suburban office landlord in the Sacramento area.
“White Rock Corporate Campus’s location offers excellent access to Greater Sacramento’s top-tier tech talent—an ideal headquarters location to support the new tenancy’s innovative practices,” said Eschelman. “We are pleased to have represented the landlord in this substantial transaction, furthering our 11-year legacy with the company where we have completed over 75 transactions.”
White Rock Corporate Campus comprises five Class A office buildings totaling five stories with a 4/1,000 parking ratio. The property’s campus setting features an approximately 2.5-acre park, on-site café, tenant lounge and fully equipped fitness center.
Located between Gold Center Drive and White Rock Road, White Rock Corporate Campus is situated just 15 minutes from downtown Sacramento and 30 minutes from the Sacramento International Airport. The asset is proximate to bus and light rail stations as well as several hotel, dining and retail options.
According to Newmark Research, the Sacramento office market posted a positive net absorption of 130,392 square feet in the fourth quarter 2022, for the first time in nine quarters. Office vacancy rate ended the year at 13.6%, marking the first time that vacancy has decreased since the second quarter of 2020.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $2.7 billion for the year ending December 31, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world.