La Provence restaurant in Roseville is closing

La Provence, a longtime restaurant and event space in Roseville, is set to close this weekend, but its owner said there’s one last option being explored to potentially save it. The restaurant and event space has operated at its location at 110 Diamond Creek Place in Roseville since 2004. Des Jardins said he notified his employees a few weeks ago about the planned closure. Since then, a few of the restaurant’s longtime customers and community members have expressed interest in partnering up to purchase the property and keep the business operating, with one individual reportedly committing $500,000 to the effort.

A representative of the ownership group referred the Business Journal to local broker Scott Kingston of Turton Commercial Real Estate, who along with colleague Ken Turton, is listing the building for sale. Kingston said the owners are open to Des Jardins and the group making an offer, but as of now the approximately 12,000-square-foot building is being listed for sale at $4.9 million. Kingston said he’s already received half a dozen inquiries about the space from interested parties despite the listing not being made public yet, which he expects to happen within the next few weeks. “The building is really special and highly improved,” Kingston said. “I think a lot of restaurant investors or restaurant owners will want to take advantage of that, and it comes with all furniture, fixtures and equipment in place.”

Source: Sacramento Business Journal

Midtown Sacramento home of At Ease Brewing, Mill Coffee sold

A former office building in Midtown Sacramento converted into retail and now hosting two popular beverage purveyors has a new owner.

Records show LCAP Properties LLC, with an address in Roseville, bought 1825 I St. in recent weeks for $1.7 million. The 3,600-square-foot building is occupied by craft brewer At Ease Brewing Company and coffeehouse The Mill Coffee Roasting & Tea Studio.

“Both are fantastic tenants that fill a very important need and amenity in the neighborhood,” said Turton Commercial Real Estate Senior Vice President Jon Lang, who brokered the sale. “They’re also both very engaged with the community, hosting events and have strong followings.”

Source: Sacramento Business Journal

Owners of The Hardin on K Street now have two restaurant spaces to fill

The owners of The Hardin in Downtown Sacramento are working to fill two prominent spots along K Street, which have become available in recent months. The two adjacent restaurant spaces were previously occupied by Solomon’s Vinyl Diner and MidiCi. Solomon’s, which operated as a restaurant and music venue in its two-story space, closed its doors in June followed by the pizza restaurant a month later. Scott Kingston with Turton Commercial Real Estate is working on these 2 listings.

The former Solomon’s space has been on the market since July and has been listed at $2.25 per square foot plus triple net costs, which include taxes, insurance and maintenance. The turnkey space comes equipped with all furniture, fixtures and equipment and includes a large patio area along K Street.

The owners of the building regained possession of the former MidiCi space at the beginning of September. Kingston said that space, which is being offered at $2.45 per square foot plus triple net costs, also comes equipped with all furniture, fixtures and equipment needed for a restaurant user to move in quickly.

Source: Sacramento Business Journal

Former Mighty Kong Cafe site on Stockton Boulevard sold to restaurant group

A restaurant building on Stockton Boulevard in Sacramento used only for commissary uses in recent years has a new owner hoping to tap growing demand in that area. Escrow closed in late August for 3701 Stockton Blvd., a 3,500-square-foot building that most recently housed Mighty Kong Cafe, which closed six years ago. “Its proximity to Aggie Square was one of the big selling points,” said Jon Lang, a senior vice president at Turton Commercial Real Estate who was one of the brokers on the sale. “It’s more food options to an area that doesn’t have a ton of options.” For now, Lang said, the new owner is planning to continue using 3701 Stockton Blvd. as a prep kitchen for events elsewhere. Jon Lang and Kimio Bazett of Turton Commercial brokered the sale.

Source: Sacramento Business Journal

‘Now’s the time’: Historic Crest Theatre property in downtown Sacramento listed for sale

One of Sacramento’s most iconic vintage theaters is now on sale for $21 million, along with several other businesses that are part of the same property.

Robert Emerick is the current owner of the Historic Crest Commercial Center. Located on K Street between 10th and 11th streets, the nearly 37,000 square foot property includes the Crest Theatre, Empress Tavern, Public Policy Advocates, Capitol Books, Crest Café, Nash & Proper and Hao Bao Dumpling. Emerick, an engineer by trade, said he bought the property in 2011 to make improvements to it. “If I’m going to sell it, now’s the time,” Emerick said.

Turton Commercial Real Estate listed the property for sale last week. The portfolio describes the Crest Theatre complex as “one of the entertainment pillars of the central business district and a highly reliable investment.” “There’s only so many iconic venues that you can buy right in the heart of an entertainment district,” president Ken Turton said.

Source: KCRA 3

Crest Theatre property for sale in Downtown Sacramento

Downtown Sacramento’s most historic theater and its surrounding property have been put on the market for sale.

The Crest Theatre complex spans two buildings totaling 36,771 rentable square feet along K Street between 10th and 11th streets. Property tenants include Capital Books, Empress Tavern, Public Policy Advocates LLC, Crest Cafe, Nash & Proper, Hao Bao Dumplings and the Crest Theatre.

The property was listed for sale earlier this week at an asking price of $21 million. Listing broker Ken Turton, president of Turton Commercial Real Estate, said the current property owner, Robert Emerick, has relocated out of the area and is exploring options for the sale.

Source: Sacramento Business Journal

New residential project planned near 65th and Folsom in Sacramento

Records show Bains Property Inc., with an address in Ketchikan, Alaska, bought the property in early May for $1.2 million. There was no contact information for the buyer. The sale closed about two weeks before the water test request was submitted to the city. Turton Commercial Real Estate broker Jack Scurfield, who worked on the seller’s side for the deal, said the new owner might pursue a project down the road, but not imminently. “I know they bought it as a covered land play,” he said, adding the plan for now will be to find a new tenant for the existing 5,000-square-foot building on the property. “They may entitle it and eventually go ground up about five stories.” Turton Commercial’s online brochure for the property mentioned that going vertical would be an option for a new owner. “Aside from the opportunities presented in the existing 4,960 SF building, the site also lends itself well as a mixed-use development play with flexible Residential Mixed-Use zoning in place,” Turton’s listing on LoopNet for the property states. “Preliminary conversations with the City indicate a project of up to four stories is feasible, with ground floor retail and residential units (potentially student housing) above.”

Jack Scurfield, a director, and Ken Turton represented the seller on the sale.

Source: Sacramento Business Journal

HK3 sells Southsider apartment/retail project south of Downtown Sacramento to Ventura buyer

In a rare new urban development sale, the Southsider project south of Downtown Sacramento is now owned by an investor from Ventura County.

Turton Commercial brokered the sale of the four-story apartment and retail project developed by HK3 Development, which didn’t return a message seeking comment.

“We always loved the diversity of Southside Park, and believed it flew under the radar given its proximity to Downtown, Midtown, parks, recreation, restaurants and nightlife,” HK3 Principal Fred Khasigian said in an announcement about the sale released by Turton Commercial. “After speaking with residents and doing community outreach over several years, we decided to execute this project and by 2021, we were proud to deliver Southside Park’s first mixed-use project.”

Escrow for the property closed in 24 days, according to Turton Commercial, noting Southsider is the first apartment property of more than 15 units to have sold in Midtown or Downtown Sacramento in the last six months.

Ken Turton and Jon Lang of Turton Commercial represented the seller in the deal.

Source: Sacramento Business Journal

Redefining the Core: Downtown Sacramento

This article gives an overview of Downtown Sacramento projects in various stages of development including projects in the works, proposed, or completed in the central city. Turton Commercial Real Estate is involved with the following: Cypress at 1330 N St., 730 I Street, Lot X at 201 N St., and Envoy at 1010 11th St.

Source: Sacramento Business Journal

R Street Corridor Construction Projects

This article gives an overview of projects on the R Street Corridor in various stages of development. It’s part of the Redefining the Core coverage, which features projects in the works, proposed or completed in the central city. While proposed or in the works projects appear likely, it’s possible not every project will make it to the completion phase.

Examples that Turton Commercial Real Estate is involved include The Richmond, Ice Box, Maker and many more.

Source: Sacramento Business Journal