Penumbra Expands CA Presence With Sacramento Lease

By Holly Dutton

Roseville Innovation Park

Global health-care company Penumbra has signed a new lease for 157,518 square feet of Class A office space at the Roseville Innovation Park in Sacramento, Calif. A joint venture between Farallon Real Estate Partners and Strada Investment Group owns the property.

Located at 630 Roseville Parkway, Penumbra’s lease expansion marks the company’s first entry into the Sacramento region and its second office within Northern California and the U.S. The office asset features 20-foot ceiling heights and retail, entertainment and housing within a short distance. Outdoor recreation, dining and breakout space is currently in the works at the property.

Roseville Innovation Park is part of the Hewlett Packard | Campus Oaks Master Plan, a mixed-use community of more than 375 acres. The campus offers easy access to Highway 65, Interstate 80 and other major thoroughfares in the area. It is situated approximately 20 miles northeast of downtown Sacramento and the State Capitol and 25 miles from Sacramento International Airport.

A Cushman & Wakefield team of Ron Thomas, Chris Schwarze, Bruce Hohenhaus and Kevin Partington represented the landlord in the deal, while Cushman & Wakefield’s Ed Grammens represented the tenant. Earlier this year, the same team brokered the transaction of a three-building industrial portfolio in Sacramento.

Image courtesy of Cushman & Wakefield