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Fully Leased Sacramento Offices Change Ownership
CBRE facilitated the $6-million sale of a 46,149-square-foot office property at 3900 Lennane Dr. in Sacramento. The firm’s Matt Post, Sammy Cemo and Anthony DeLorenzo, in partnership with CBRE’s Tony Whittaker, represented a private seller. The building was sold to 2919 Prom R&T LLC.
“This transaction underscores the growing investor appetite for stabilized suburban office assets,” said Post, a first VP with CBRE “The building offers a rare combination of long-term leases and recent capital improvements, positioning the buyer for strong upside in a rapidly evolving Sacramento office market.”
The two-story building was built in 1978 and has undergone extensive renovation. The property is fully leased with a weighted average lease term (WALT) of 5.2 years. Notably, 78% of the tenant roster comprises leases signed post-COVID, which CBRE described as reflecting strong leasing momentum in the North Natomas submarket.
Situated across from the Target-anchored Promenade at Gateway and Truxel Gateway, the property is adjacent to Interstate 80.
- ◦Sale/Acquisition
