Homecomings Financial Leases 43,314 SF

PETALUMA, CA-Wholesale lender Homecomings Financial has signed a 10-year lease for 43,314 sf of a 56,000-sf office building here at RNM Properties’ Lakeville Business Park on the south side of the city. Located at 1650 Corporate Circle, the two-story building has been vacant since it was completed in late 2001.

Currently located five miles away on the north side of the city, Homecomings is now working with RNM Properties on tenant improvements and plans to relocate some 200 employees to the building in May. The lease rate on the transaction was not released by the parties involved. RNM Properties president Paul Elmore says the asking rate for space in the building is currently under review. Two years ago, the annualized full service asking rate was $27 per sf. Cal Nakanishi and Martin Melbardis of Collier’s Inc., San Francisco represented Homecomings Financial in the deal.