February 22, 2021 10:00 AM
Newmark announces that Pappas Investments, one of Northern California’s most respected developers and investors in premier commercial real estate, and Child Action, Inc., a non-profit providing childcare services in Sacramento since 1976, have signed a lease agreement for approximately 42,000 square feet for Child Action to relocate their corporate headquarters to 10540 White Rock Road in Rancho Cordova. 10540 White Rock is a Class A, 95,704-square-foot office building owned by Pappas Investments.
Pappas Investments was represented in the transaction by Tom Heacox and Matt Heacox at Newmark. “To be able to get the transaction executed successfully in the midst of a pandemic, as well as over the holidays, was a testament to both team’s dedication, flexibility and professionalism,” said Matt Heacox. “With up to 27,000 square feet coming available at the property, 10540 is well-positioned in the market, and Child Action landing here proves that.”
Child Action is Sacramento County’s Alternative Payment Program and Resource & Referral agency. The organization provides vital programs to the community, freeing up time and resources for parents so they can focus on work or school while knowing their children are in a safe, supportive childcare setting. In 2019-2020 alone, Child Action paid $73 million in childcare subsidies, allocated $1.4 million in emergency supply funding for childcare providers, and spent 318,262 staff and volunteer hours supporting families and children.
“Our activities increase each year and we have been expanding our staff,” said Julie Smith, Communications Officer at Child Action. “Our staff are currently split among three buildings. As the end of our current lease was nearing, we began to seek alternative space. The hands-on support we received from Russel and Brian at Gallaway Commercial, and Pappas Investments, throughout the process made our decision easier.”
“As a local, family-owned commercial real estate company, Pappas Investments is very committed to our tenants, and our community,” says John Pappas, Co-Owner of Pappas Investments. “Child Action provides essential programs and services to the region and it is great to have such an impactful tenant at one of our buildings.”
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
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