Six months after Basin Street Properties bought it, White Rock Corporate Campus in Rancho Cordova has hit the 90 percent mark for occupancy.
Turning Point Community Programs has signed a seven-year lease to occupy about 18,000 square feet at 10850 Gold Center Drive, as of Aug. 1.
Scott Stranzl, vice president with Petaluma-based Basin Street, said the lease leaves White Rock with about 55,000 square feet still available. He said two other deals for the five-building, 518,000-square-foot property are signed but can’t be announced yet. “The environment in which people work is incredibly important to productivity,” Stranzl said, offering his explanation of Basin Street’s success in leasing. “I think there’s been a lot of looky-loos for some time, and now they’re getting comfortable with a stable spot.”
Since buying White Rock in January for $58 million and renaming it from Prospect Green, Basin Street Properties has worked on the amenity package for tenants. The property will soon have a bike share program, an overhauled café and a new volleyball court. A volleyball league for tenants is also in the works, Stranzl said. “We’re creating a better tenant experience for everyone,” he said.
For Turning Point, those amenities made a difference, as did the ability to expand its footprint, said CEO Al Rowlett. Turning Point, which provides behavioral health services for eight Northern California counties, has been in its current location on Viking Drive in Sacramento County’s Rosemont neighborhood for 30 years. “We’ve been blessed with wonderful growth, and we exceed capacity several times a years, and I daresay, several times a month now,” Rowlett said. The new lease at White Rock is about 6,000 square feet larger than Turning Point’s current home. By moving, Turning Point will also get to use the campus’s on-site conference room, an amenity not often available to nonprofits, Rowlett said.
By Ben van der Meer – Staff Writer, Sacramento Business Journal