RANCHO CORDOVA, CA-In one of the larger deals seen Rancho Cordova this year, Progressive Casualty Insurance Corp. signed a 10-year pre-lease agreement with B&Z Properties to rent 139,760 sf of office space–a deal valued at more than $30 million.

Progressive, whose current lease will expire next year, will be relocating into this space, which consists of two 79,880-sf buildings at 10929 Disk Dr. and 10940 White Rock Rd. that are connected by a temperature-controlled breezeway.

Construction on the property began last week and will be completed by April of next year. Progressive will occupy one entire building and 59,880-sf of the other.

Greg Levi of CB Richard Ellis represented the seller and Michael Day of Trammel Crow Co. negotiated for Progressive. Levi tells GlobeSt.com Progressive was looking at other markets near Rancho Cordova, like Folsom, but ultimately chose the White Rock Road space because it would cause the least amount of inconvenience to its employees.

“This is definitely one of the bigger deals out there in a while,” adds Ellis.

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