Newport Beach-based KBS Strategic Opportunity Real Estate Investment Trust Inc. says it has finalized a 23,761-square-foot lease with CorVel Corp. at its 210,905-square-foot Iron Point Business Park in Folsom.
KBS acquired the 15.7-acre Iron Point campus in 2011 and has since signed more than 120,000 square feet in leases, increasing occupancy from 38 to 62 percent.
Irvine-based CorVel, which provides medical cost containment and managed health care services nationally, will consolidate its Rancho Cordova and Gold River offices into a single location on the third-floor of 1180 Iron Point Road.
Financial terms were not disclosed. Kris Reilly, Tom Walcott and Scott Bennett of Colliers International in Sacramento represented KBS in the deal.
Call The Bee's Mark Glover, (916) 321-1184.