Business & Real Estate

Big state agency opts to stay in Natomas location

The state Board of Equalization has renewed a lease for 66,593 square feet of space at the Gateway Corporate Center in Natomas.

The center, at 160 Promenade Circle near the Truxel Road exit from Interstate 80, has more than 235,000 square feet of office space in two three-story buildings.

The center is owned by KBS Real Estate Investment Trust II of Newport Beach.

The lease deal is for eight years, said Ron Thomas, executive director with Cushman & Wakefield, which represented the property owner in the lease talks. Specific terms were not disclosed.

Thomas said BOE had been considering a consolidation of its Sacramento offices, which could have meant leaving the Gateway location. But he said those plans have been delayed.

“Once consolidation got pushed off the fast track, they decided they’d stay in their current locations and firm up their leases,” he said.

Call The Bee’s Bob Shallit, (916) 321-1017.