Roseville Innovation Park

In 2017 Strada acquired an 140-acre corporate campus from Hewlett Packard Enterprise Company (HPE). The campus encompasses five buildings with a total of nearly 800,000 sqft of office space, plus additional development rights. 

Strada recorded a condominium plan on the campus to allow buildings with different lease structures to be sold separately. Strada sold the three HPE-leased buildings to a triple-net buyer.

Strada negotiated a long-term lease with Penumbra, a Bay Area based medical manufacturing company, for a 160,000-square-foot single-story building that HPE had recently vacated. Before Penumbra fully-occupied the space, Strada sold the building to a triple-net buyer in a deal that closed in March 2020.

For the final building, Strada executed a blend-and-extend lease deal with Gainwell Technologies for half of the building and separately negotiated a lease expansion with Penumbra for half of the building. Strada later sold the building in a marketed sale process that closed in October 2021.