Press Releases
CoBank Relocates to Basin Street Properties'
Recently Acquired California Center in Sacramento
Leading Agricultural Financial Lender to Occupy
6,300 Sq. Ft. of Premier Office Space
SACRAMENTO, Calif., – June 6, 2007 – Basin Street Properties, a prominent Northern California and Northern Nevada developer of commercial and mixed-use properties, secured a new tenant to its recently acquired 168,000 sq. ft. California Center Business Park in Sacramento. CoBank, a $41 billion cooperative bank dedicated to serving U.S. agriculture and rural America, signed a five-year lease for 6,300 sq. ft. of Class "A" office space, effective October 1, 2007. CoBank will join the current roster of marquee tenants, including Federal Express, Granite Land Company, Providence Funding and SRA International.
"CoBank is the first new tenant under Basin Street's ownership and we are excited to have them on board," said Scott Stranzl, vice president of leasing at Basin Street Properties. "The California Center is a desirable location for Sacramento companies and its employees. It is situated near major transportation routes, including light rail systems and major highways, and is in close proximity to residential areas and the downtown core."
"The California Center is an ideal location for us. Our customers in California are primarily local agribusinesses and agricultural cooperatives, and it's important that we are easily accessible to them," said Ginny Stichternath, regional vice president for CoBank. "We also recognize that our employees are our most important asset, so it was important to select office space that offered a professional and productive workplace environment."
The 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 a health facility on site and a variety of retail options within walking distance. Todd Eshelman of Cornish & Carey brokered the deal for Basin Street and Hugh Scott of Staubach represented CoBank.
CoBank is a $41-billion cooperative bank that provides financial solutions and leasing services to rural cooperatives and critical lifeline businesses – food, water, electricity and communications – across the United States. Part of the $163-billion U.S. Farm Credit System, the bank also finances agricultural exports and provides financing to Farm Credit associations. CoBank has 600 employees nationally, and serves 2,300 customer-owners. The bank has a national office in Denver, additional offices across the U.S., and two international representative offices. For more information, visit www.cobank.com.
Basin Street Properties, headquartered in Petaluma, Calif., is one of Northern California's and Northern Nevada's prominent developers 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 on Basin Street Properties, please call 707.795.4477 or visit www.basin-street.com.
