Property will serve as the official headquarters for Mountain F Enterprises and
Mountain G Enterprises, leaders in the logging and utility service industry.
FOLSOM, Calif., (Oct. 28, 2019) – Voit Real Estate Services has successfully directed the $23.7 million acquisition of Natoma Station Corporate Center, a Class A, 102,750 square-foot multi-tenant office property in Folsom, California.
Rocco Curci, a Vice President in Voit’s Irvine office, represented the buyer, Iron Point, LLC, which will occupy a portion of the property as the new corporate headquarters for two entities serving the logging and utility service industries: Mountain G Enterprises and Mountain F Enterprises.
“This was a tremendous opportunity to acquire a thriving property in the premiere, Class-A, office corridor of Folsom that is benefiting from continued job growth throughout the Sacramento region,” explains Curci, who notes that the Sacramento/Roseville/Arden/Arcade MSA posted a 1.9% increase in year-over-year job growth last month.
“By identifying an off-market opportunity to acquire a multi-tenant asset of this caliber, we were able to help this rapidly growing company expand its operations and establish a new headquarters less than a mile from its previous location, while also benefiting from the long-term advantages of owning a 100% occupied asset with a diversified base of tenants,” Curci says.
With the leases by Mountain G Enterprises and Mountain F Enterprises, the property is fully occupied. Other tenants at the property include a diversified mix of high caliber tenants such as Devry, General Dynamics, and Allstate.
The seller, PAC West Office Equities, an entity of Buzz Oates Real Estate, recognized the benefit of selling to a company that began as a small family-owned business and is rapidly growing into one of the largest utility service contractors in the Western U.S., according to Curci.
“We were successful in demonstrating the similarities between the buyer and seller, both of which began as small companies and through grit and perseverance have grown to leaders in their respective industries”, says Curci. “Buzz Oates Real Estate recognized the value of selling to an entity that is bringing new jobs and continued growth to the Greater Sacramento market.”The two-story property is situated in the highly desirable Iron Point Corridor of the Folsom submarket, less than a mile from the Iron Point Light Rail station and in close proximity to Folsom Premium Outlets, as well as a wide variety of shopping, dining, and entertainment options.The property is located at 950 Iron Point Road in Folsom, California. Kevin Partington and Sean Mullen of Cushman and Wakefield represented the seller in the transaction.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its 45+ year history, the firm has developed, managed and acquired more than 64 million square feet, managed $1.4 billion in construction projects and completed in excess of $50 billion in brokerage transactions encompassing more than 47,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios.