FOLSOM, CA—CorVel Corp., a national health care manager based in Irvine, Calif., has signed a consolidation lease at the Iron Point Business Park here.
The company is leasing 23,761 sq. ft. at the five-building, 210,905-sq.-ft. park, and will consolidate its Rancho Cordova, Calif., and Gold River, Calif., offices into a single location on the third floor of Building 1180.
KBS Strategic Opportunity Real Estate Investment Trust Inc. bought the complex in 2011 when it was 62 percent vacant, and now the property is 62 percent occupied. In 2012, KBS upgraded the complex by expanding the onsite fitness and conference centers, and adding a 1,000-sq.-ft. executive lounge.
Cresa’s Robin Wherritt represented CorVel in the lease negotiations. Kris Reilly, Tom Walcott and Scott Bennett with Colliers International in Sacramento represented KBS.