CBRE Closes $14M Sacramento-Area Office Sale

11919 Foundation Place. Image courtesy of CBRE

CBRE has arranged the $14.3 million sale of Gold Pointe Corporate Center Building E, a 63,206-square-foot office property in Gold River, Calif. Executive Vice President Randy Getz negotiated on behalf of the seller, a private investor, while Kidder Mathews Senior Vice President Steve Tyrrell assisted the buyer. 

The new owner funded the purchase with a $4.5 million loan from U.S. Bank, according to Sacramento County records. The asset last traded in 2005, when Panattoni Development Co. sold it for $13.4 million, Yardi Matrix shows.

Located on 3 acres at 11919 Foundation Place, the two-story building is fully leased to eHealth Inc. The company has been at the site since the property first opened in 2003, signing a 19,000-square-foot lease expansion last year, making it the sole tenant in the building.

The asset is part of the Gold Pointe Corporate Center, a five-building campus encompassing 455,000 square feet. The park’s amenities include a gym, showers, bike lockers and a café. The site is 21 miles northeast of downtown Sacramento.

Earlier this month, CBRE represented BlackRock in the $43 million disposition of Pacifica Court, a 110,400-square-foot office property in Irvine, Calif. A partnership between Meridian and Harrison Street acquired the asset, with plans to convert it into a Class A medical office building.