Basin Street is selling Legacy the single-story, 71,000-sq.-ft. Lakeville Corporate Center at 2090 Marina Avenue that it first developed for Legacy as a build-to-suit property in 1999.
In return, Basin Street has purchased from Legacy the one-story, 53,970-sq.-ft. office building at 1179 North McDowell Boulevard which houses current tenants Legacy Financial Services which is an affiliate of Legacy Marketing Group, AT&T and Mahi Networks.
Based in Petaluma for the past eight years, Legacy Marketing Group will remain the sole tenant of the Lakeville Corporate Center, and a Legacy Financial Services affiliate will continue to occupy approximately 10,000 sq. ft. of office space at the 1179 North McDowell property.
Legacy Marketing Group has grown dramatically over its eight-year history to more than 500 employees and has been looking an office complex to house its corporate headquarters in one facility. Brokers Lou Sabella and Bob Lipman of Lipman/Sabella represented both Basin Street and Legacy Marketing Group in the property swap.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
