ROHNERT PARK, CA-In an update to a previous story, US developer, SunCal, has closed the acquisition of the 30-acre former State Farm Insurance property in Rohnert Park, CA, for an undisclosed sum. SunCal plans to entitle and redevelop the Sonoma County site into a pedestrian-friendly, mixed-use town center dubbed Rohnert Crossing that will provide a lively downtown district and central town green for the community.
The parcel encompasses an entire city block and is located along Rohnert Park Expressway, and is across the street from the city library, police station and city center plaza. A future Sonoma-Marin Rail Transit passenger train station is under construction along the eastern edge of the project, providing the basis for a transit-oriented development.
“The Rohnert Park property represents an outstanding opportunity,” says Ian Vickers, SunCal VP of land acquisition. “The site is one of the largest parcels available for development north of the Golden Gate Bridge, and it involves an entire city block that is located directly in the path of growth in the thriving Greater San Francisco Bay Area.”
The future SMART commuter line adjacent to Rohnert Crossing will provide rail service along 70 miles of the historic Northwestern Pacific Railroad corridor, connecting urban and rural residents of Sonoma and Marin counties with jobs, education and health care services in the region. At the southern terminus, the trains will deliver commuters to the ferry terminal in Larkspur, Calif., and connect with San Francisco. The Rohnert Park station is part of SMART's Phase 1 that is scheduled to start service in late 2015 or early 2016.
“This parcel is well-situated in the center of the City, it will be served by new commuter rail service, and the project will be part of creating an exciting, new downtown area serving the entire community,” explaoins Joe Guerra of SunCal Acquisitions and Entitlement Northern California office.
The property was sold to an affiliate of SunCal by State Farm Insurance, as GlobeSt.com previously reported, and was originally developed by the insurer in the late 1970s. The facility operated for 35 years and the company recently relocated its operations and staff to another center.
The transaction was brokered by Cushman & Wakefield.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
