State Agency Inks $175-Mil Lease Deal

West Sacramento, CA-In what could very well turn out to be the largest lease deal in the city this year, First Union National Bank has leased the 319,484-sf Ziggurat Building in West Sacramento to the state department of General Services for 18 years. The deal value is in excess of $17 million, according to local real estate sources.

The pyramid-shaped, Class A office structure is a well-known local landmark. It stands on 7.77 acres along the Sacramento River, directly across from Old Sacramento. It includes 10 floors of office space, a basement and onsite parking for 1,587 stalls. The building’s steel superstructure exceeds the 1991 Uniform Building Requirements and is designed to resist a seismic event of up to 6.9 on the Richter scale.

Representing First Union, Jon Snyder and Rick Henry of Jones Lang LaSalle negotiated directly with the Department of General Services in the transaction. Jones Lang LaSalle’s vice president and regional leasing director Wes Powell tells GlobeSt the Ziggurat transaction could very well end up being the largest leasing deal in the year 2001 in the Sacramento Bay region.