Rocklin Office Building Housing Stantec Changes Hands

A flex office building in Rocklin is under new ownership, but the brokerage firm who helped get the deal done on the seller’s side said it was just a transaction that made sense.

“This asset fell into their buying criteria, and they bought it,” said Ken Turton of Turton Commercial Real Estate, which handled the $3.5 million deal on behalf of seller Logical Investments LLC.

Cole Real Estate Investments is the new owner of the 19,866-square-foot building at 3875 Atherton Road in Rocklin, and had Ben Prater of Colliers International as its representative.

Turton said Stantec, a design and consulting firm for the construction industry, has an existing 10-year lease for the whole building, so the purchase also makes sense from a stability standpoint.

“They get a good return, and it’s a good economic decision and good for with what they do,” he said.

The 1991 building has 51 private offices. A sale listing from June 2012 states the property also has a 3-year-old roof and a recently installed solar system, giving it virtually zero energy costs for its tenant.

With a square-footage rental rate of $175, the building sold for more than the average $135-per-square-foot asking price for other office properties in Rocklin. Over the last three months, according to LoopNet, the asking price for Rocklin office properties has fallen by 4 percent.