The Sacramento office of commercial real estate services and investment firm CBRE Group Inc., has signed a lease to move into the Bank of the West Tower at 500 Capitol Mall downtown.
The firm said it signed an 11-year lease to occupy the entire 24th floor of the office building, which is owned and managed by Tsakopoulos Investments. The new space comprises about 17,000 square feet and is being designed as one of CBRE’s “Workplace360” offices. The office is expected to be completed in March.
It will house up to 100 employees, representing all of CBRE’s service lines including brokerage, asset services, project management, debt/equity finance, valuation and advisory services, strategic consulting, financial consulting, global corporate services, marketing and research.
CBRE is moving from nearby 555 Capitol Mall, its first relocation for the Sacramento office in nearly 40 years.
“500 Capitol Mall is one of the best high-rise properties in Sacramento, and the opportunity to house all of our local employees on one, single-tenant floor was a driving factor in our decision to relocate to this building,” said David Brennan, CBRE’s senior managing director for the Sacramento region. “By combining all of our operations on one floor, we can create a more open design that encourages a collaborative environment throughout the space.”
Call The Bee’s Mark Glover, (916) 321-1184.