Gross Floor Area
- 168, 847 square foot, LEED Gold certified office building on a 15,000 SF site.
- Located downtown Sacramento immediately across from the State Capital building benefiting from high demand from government affiliated tenants.
- Acquired at an attractive price of $269 PSF significantly below replacement cost.
- Asset was 88.1% occupied at the time of initial investment.
- Common area improvements: lobby, entrance and signage;
Lease-up Opportunity: reconfiguring 2,500 SF of ground floor space to a retail unit and reconfigure the 3rd floor from 7 small units into 2 units.
- Asset submarket has been undergoing significant investment including 2016-2017 opening of the Golden 1 Center (home to NBA team Sacramento Kings) Strategy designed to improve cash flow and enhance asset value.