State Farm just sold its gigantic 283k SF office property in North Bay to SunCal. It had been sitting empty for the past few years, so you have to assume some ghosts are going to be very upset about this.
The Sonoma County property at 6400 State Farm was only on the market for six months, but Cushman's Sean Heaton dealt with multiple prospects. Why so much fuss over an abandoned insurance complex? For one, the property is huge and potential buyers salivated at the chance to redevelop it. SunCal, known for its gigantic master-planned communities up and down California, plans to turn the 30-acre site into a mixed-use town center called Rohnert Crossing.
The sales price was undisclosed. Because no new entitlements were in place at the point of sale, that made for a complicated and uncertain process, notes Sean. He recently relocated to Portland (we chose a grainy photo in honor of all the whole grain bread variations they have up there), but he was previously responsible for all brokerage activities in Sonoma and Marin counties, negotiating over 5M SF of commercial property transactions from 2004 to 2013 with his team.
