Sierra Pacific Lands 50,000-SF Tenant for New Office Development

CONCORD, CA-Sierra Pacific Properties has landed its biggest tenant to date for its new 231,000-sf Metroplex Office Centre in Concord’s Diamond District. Wells Fargo Home Mortgage has signed on for 50,000 sf in the 10-story building slated for shell completion next month. Along with three smaller leases signed recently, the building is now 30% leased at full service rates between $2.35 and $2.50 per sf per year.

Sierra Pacific is based in Pittsburg, CA and is owned by brothers Albert Seeno Jr. and Tom Seeno. The company is also a homebuilder. Sierra VP Doug Messner tells GlobeSt.com the office building was funded through the company’s existing lines of credit.

Wells Fargo’s expanding home loan division is taking the third and fourth floors in the building and will utilize a portion of the first floor as a mail room, says Messner. Messner says Well Fargo looked at a few options in the region but found Metroplex to be the most central to its workforce.