CBRE and Cushman & Wakefield are the Bay Area development’s leasing agents.
JLL represented the seller in the transaction.
The property was 42 percent leased at the time of sale.
CBRE secured the loan through PNC Bank.
The companies have agreed to occupy space vacated by Blue Shield at an office campus in El Dorado Hills, Calif.
The team purchased a 19-acre site in Tracy for the development of a Class A facility.
The 13-story building is adjacent to the State Capitol.
JLL Capital Markets represented the seller.