Known as Parkway Corporate Plaza, the portfolio was 100% leased at the time of sale, with key tenants including Kaiser, Sutter Health, Wells Fargo, UC Davis and the state department of social services. The portfolio consists of 1620, 1640, 1660 and 1680 E. Roseville Pkwy., providing access to major freeways, public transportation and retail amenities. The seller was an affiliate of Broe Real Estate Group and was represented by Seth Siegel, Adam Lasoff, Steve Hermann, Eric Fox and Ryan Venezia (who form Cushman & Wakefield's Northern California capital markets group), together with Travis Ives, a member of Cushman & Wakefield's healthcare advisory group, and the firm's Chris Schwarze as local market leasing expert.

“Situated between two major hospital campuses, Kaiser and Sutter Health, the portfolio of properties draws strong interest from the region's top medical office tenants,” says Cushman & Wakefield executive managing director Siegel. “It benefits from a campus-like feel and an above-market parking ratio. Parkway Corporate Plaza's features, combined with its long-term leases and investment grade tenant roster, provide upside with the stability of a core investment.”

In January, Cushman & Wakefield also advised on the sale of a class-A office campus totaling 178,429 square feet in Rancho Cordova, CA. The two-building property is located at 10730 and 10734 International Dr. and is 100% leased to Centene Corporation, which utilizes the buildings for its call center operations. The buyer was a family office and the seller was a real estate investment trust. Cushman & Wakefield's Lasoff, Siegel, Hermann, Fox and Venezia, together with Ron Thomas, managing principal of Cushman & Wakefield's Sacramento office, represented the seller in the transaction.

The Centene buildings are positioned in a key business park environment and notably have never been vacant since developed in 2001. The assets have also been well maintained and upgraded, featuring institutional-quality construction, fitness rooms, efficient floorplates, desirable glass lines and sought after parking. Situated near Highway 50, the property is primed to benefit from the outstanding growth the region has experienced the past two years.

Cushman & Wakefield has also been hired to market the sale of a 399,636-square-foot office property in downtown Sacramento. Located at 1515 S St., the buildings are fully leased on a long-term basis to the state. The assets are close to the state capitol and in the core of the burgeoning R Street corridor, Sacramento's shopping, dining and entertainment district. The sales effort is being handled by Cushman & Wakefield's Lasoff, Siegel, Travis Trautvetter, Hermann, Fox and Thomas.

Thomas says investors, whether regional, national or global companies or high net-worth individuals, remain “magnetized” by the Sacramento market's strong fundamentals and performance. The asset dispositions in Parkway Corporate Plaza and 10730-10734 International Dr., along with the recent market offering at 1515 S St., are appealing in terms of physical characteristics, respective top locations, strong tenant composition and access to amenities, he points out.

“Sacramento's real estate market fundamentals remain very healthy, and investors of all types, whether based locally or within or outside the US, continue to show interest in our market seeking opportunity to deepen and or diversify their portfolios,” Thomas tells GlobeSt.com. “And going into 2019, these sales will be a significant contributing factor in our region's office investment activity that appears to be shaping up pretty well in the first quarter, and which has been consistently robust these past few years, including a record-setting performance in 2018 with over $1.1 billion in cumulative sales volume.”