X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.