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Seagate Picks Up 3-Building Sacramento Complex

Seagate Properties has closed on its $32-million acquisition of Creekside Oaks, a three-building, class A business complex in Sacramento, CA from Ridge Capital Inc. The 178,695-square-foot property was 97% leased at the time of sale.

The Creekside Oaks deal was part of a 1031 exchange. In February, Seagate sold 899 Northgate Drive, a 55,137-square-foot office building in its hometown of San Rafael, CA, to PFI Inc. for nearly $19 million.

A five-minute drive from downtown Sacramento, “Creekside Oaks is an attractive investment,” said Seagate principal Brian Johnson. “It is an institutional-quality asset with a strong multi-tenant rent roll. And it provides tenants a more affordable alternative to Downtown Sacramento.”

Cushman & Wakefield’s Kevin Partington, Adam Lasoff, Steve Hermann and George Eckard represented Ridge Capital in the sale. Partington and his CushWake colleagues, Sean Mullens and Kris Kamblach, were retained to lease the Sacramento property.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).