40,000 SF Class A Office Building Sold for $11.5 Million
FAIRFIELD, CA – September 29, 2021. Wiseman Commercial today sold the first Class A office building it developed to Pensacola Residential, LLC. The sale of Corporate Plaza, located at 1261 Travis Boulevard in Fairfield, California fetched $11.5 million.
Procuring broker, Billy Yeh, noted the purchase of the building as a strategic acquisition, with the building’s 100% full occupancy and strong combination of Class A medical and corporate tenants. Corporate Plaza’s establishment as a landmark building within Solano County and Fairfield provided a great diversification option to the investors of Pensacola Residential, LLC, who already own industrial and medical buildings in Solano and Sacramento Counties. This move by Pensacola Residential, LLC is the first step toward new developments and acquisitions by the investment group he represents.
“We are excited to acquire this great asset and maintain this building’s legacy for the Fairfield community. By retaining Wiseman Commercial as the Property Manager, we intend to continue the Class A service and experience to which the Tenants have become accustomed. We are local and committed to growing and serving the community, as Wiseman Commercial has done over the years.”
— Billy Yeh, Broker, Yeh Area, Buyer’s Representative
The development of Corporate Plaza is attributed to the early vision of Wiseman Commercial’s CEO, Doyle Wiseman, who grew up in Fairfield. Recognizing the need for a Class A, professional office building, Mr. Wiseman developed Corporate Plaza to provide a key amenity for the community.
“We developed Corporate Plaza in 1989, the first multi-tenant class A office building in Solano County. Our architects created a ‘timeless design’, using carnelian granite slabs to enhance the landmark at this prominent Fairfield intersection. I am a bit sad to be letting Corporate Plaza go, and pleased that the new owners, also a local family, appreciate the building and the professionals within as much as we do. The good news for Wiseman Commercial is that this sale allows us to build our 13th building, 5000 Wiseman Way, in Green Valley, next Spring.”
— Doyle Wiseman, Founder & CEO, Wiseman Commercial
Pensacola Residential, LLC is eager to serve the community of Fairfield by joining Wiseman Commercial as a leading developer in the Fairfield area. Zen Hunter-Ishikawa represented the seller in this transaction.
Wiseman Commercial
Wiseman Commercial is a full-service, commercial real estate firm offering brokerage, development, investment and management services to Solano, Napa and Yolo counties. For more information about our portfolio of Class A properties, please contact Zen at 202.528.3211 or by email at [email protected].
