SOURCE: Basin Street Properties

July 18, 2011 14:43 ET

Basin Street Properties Signs Four Tenants to California Center Business Park

Three New-to-Market Tenants Signal Business Confidence in Sacramento

SACRAMENTO, CA--(Marketwire - Jul 18, 2011) - Basin Street Properties (www.basin-street.com), a prominent Northern Nevada and Northern California real estate investor of commercial and mixed-use properties, adds four tenants to its California Center business park. Occupying a combined total of nearly 16,000 sq. ft., the new leases include Children's Law Center, Commonwealth Brands, Inc. and PHH Mortgage, all companies expanding to Sacramento for the first time, as well as Panther Expedited Services, which is relocating.

"Like most metropolitan areas in California, Sacramento remains hungry for job growth and signs of positive real estate activity. With three out of four of our new tenants adding Sacramento offices for the first time, this signals an uptick in interest in doing business in the region, and we are pleased that these companies saw California Center as an ideal complex to set up shop," said Scott Stranzl, vice president of leasing at Basin Street Properties. "These new tenants are a testament to our ability to attract small organizations, whose growth we foster by accommodating their changing real estate needs."

Children's Law Center, a nonprofit public interest legal organization, signed a five-year lease agreement for 7,465 sq. ft., which commenced on July 1. Brokers Mark Hefner and Kris King of Cushman & Wakefield represented Children's Law Center and Michael Stassi of CB Richard Ellis represented Basin Street.

Commonwealth Brands, Inc., a subsidiary of Imperial Tobacco PLC, occupied 3,460 sq. ft. on April 1 for three years. Hefner, King and Christian Strain of Cushman & Wakefield represented Commonwealth Brands and Stassi brokered the deal for Basin Street.

Panther Expedited Services, a shipping and freight company, signed a three-year, 2,523-sq.-ft. lease agreement that commenced on June 1. Panther Expedited Services was represented by Toss Valentine of Grubb and Ellis and Daniel Baker of CB Richard Ellis represented Basin Street.

PHH Mortgage, a private label mortgage outsourcing company, occupied 2,500 sq. ft. on May 1 for a three-year term. Kirk Lange of Cornish & Carey Commercial Newmark Knight Frank brokered the deal for PHH Mortgage while Baker represented Basin Street. "Commencing four leases in four months showcases the quality and desirability of California Center," adds Stranzl. "The park's high profile location, surrounding amenities, close proximity to public transportation, convenient access to the labor pool, and onsite property management and facility engineer services ensure that business needs will be met."

The 168,000-sq.-ft. California Center is located at 8950 Center Drive, conveniently adjacent to Highway 50 off Watt Avenue, which is a major thoroughfare and key connector to Highway 80. The corporate campus offers an onsite health facility and property management services, a variety of retail options within walking distance, and is in close proximity to the Light Rail station.

About Basin Street Properties
Basin Street Properties is one of Northern Nevada's and Northern California's prominent developers, investors and managers of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded more than 30 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information, visit www.basin-street.com.

Contact Information

  • Contact:
    Melinda Hepp
    Blattel Communications
    415.397.4811
    Email Contact

    Matt White
    President
    Basin Street Properties
    707.795.4477
    Email Contact