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PETALUMA, CA-Basin Street Properties has finalized an exchange of Petaluma office property with Legacy Marketing Group.

Basin Street is selling Legacy the single-story, 71,000-sq.-ft. Lakeville Corporate Center at 2090 Marina Avenue that it first developed for Legacy as a build-to-suit property in 1999.

In return, Basin Street has purchased from Legacy the one-story, 53,970-sq.-ft. office building at 1179 North McDowell Boulevard which houses current tenants Legacy Financial Services which is an affiliate of Legacy Marketing Group, AT&T and Mahi Networks.

Based in Petaluma for the past eight years, Legacy Marketing Group will remain the sole tenant of the Lakeville Corporate Center, and a Legacy Financial Services affiliate will continue to occupy approximately 10,000 sq. ft. of office space at the 1179 North McDowell property.

Legacy Marketing Group has grown dramatically over its eight-year history to more than 500 employees and has been looking an office complex to house its corporate headquarters in one facility. Brokers Lou Sabella and Bob Lipman of Lipman/Sabella represented both Basin Street and Legacy Marketing Group in the property swap.

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