Opus Ties Up 13 Acres for Office

SACRAMENTO-Opus West Corp. is in the process of acquiring 13 acres here in the California Center business park for an eventual 240,000-sf office complex.

The Phoenix-based company says it hopes to start construction next summer on two three-story, 120,000-sf buildings on the Highway 50 corridor. Opus says it plans to monitor the market over the next six months before deciding to spec the space or not.

The seller is TA Associates Realty, a Boston-based firm. Bob Feld and Tom Heacox of Cornish & Carey Commercial are representing Opus in the land purchase, which could close early next year, and will also market the office space.

In the past two months, three office buildings in the Highway 50 and Howe Avenue corridors have traded hands. An unnamed fund adviser from San Francisco represented by DRA Advisors, bought a 130,000-sf building at 100 Howe Avenue from the Archon Group for about $17 million. Tom Heacox, Todd Eschelman and Bob Feld of Cornish & Carey Commercial represented Archon, while Miles Treaster of DRA Advisors represented the unnamed fund.

An individual investor, Art Tom, bought two 127,000-sf buildings in the California Center business park from Los Angeles-based TA Associates for approximately $18 million. CB Richard Ellis represented both Tom and TA Associates.

Opus also has plans for 200,000-sf of office in Roseville’s Stone Point business park. This project will be built on spec, according to Opus.