Buzz Oates Sells Sacramento-Area Office Building
- Nov 01, 2019
Buzz Oates Real Estate—one of the top Sacramento office owners— has sold Natoma Station Corporate Center, a 102,750-square-foot, Class A property in Folsom, Calif., for $23.7 million. Voit Real Estate Services arranged the sale on behalf of the buyer, Iron Point LLC, with Cushman & Wakefield representing the seller.
Natoma Station Corporate Center occupies nearly 7 acres alongside Freeway 50 at 950 Iron Point Road, some 20 miles from downtown Sacramento and within 15 miles of the Sacramento McClellan Airport. The asset is near two bus routes and one of the city’s light rail lines. The office building is also adjacent to the Folsom Premium Outlets retail center.
Constructed in 1999, the two-story structure comprises 54,164-square-foot floor plates and has parking at a ratio of four spaces per 1,000 square feet. The property is leased to several tenants including DeVry, General Dynamics and Allstate, and the new owner plans to bring the asset to full occupancy by relocating two of its businesses—Mountain F and Mountain G Enterprises—into the building.