Small Deals Maintain US Bank Plaza Occupancy

SACRAMENTO, CA-Five new leases have been signed at U.S. Bank Plaza, bringing the 25-story, 426,789 SF building’s vacancy rate to less than 1%. The office and retail space has attracted two new tenants and four more have signed renewals and expansions. The building is now 99.6% leased.

Schlumberger Resource Management Services, a new tenant, has leased 6,532 sf. Schlumberger was represented by Devol Atlee of Cornish and Carey.

Another new tenant, Duke Energy, has inked an agreement to take almost 3,000 sf. Jeremy Hollis of C.B. Richard Ellis brokered the deal.

The Sacramento County Employees Retirement system has renewed its existing lease and will expand into an additional 17,065 sf. The California Apartment Association has renewed and expanded into 5,545 sf. The California Mortgage Bankers Association and California Financial Services Association have also signed renewal agreements.

Jeremy Hollis of B.B. Richard Ellis represented Grosvenor in all new lease transactions and Insignia/ESG, the on-site property management firm, handled the renewals.

Rod Krimble of Grosvenor, a major real estate services company, told GlobeSt.com that the leases range between 5-10 years, and the average lease rate is about $2.40-2.90 per sf. Krimble said that since the building was constructed 10 years ago, it has presented a great corporate image to its tenants because of its location and proximity to the capitol, federal building and all other government buildings.