Heller Pacific lists Midtown development site for sale

A Midtown Sacramento site eyed for infill development for better than a decade is on the market with entitlements attached.

But listing broker Ken Turton of Turton Commercial Real Estate said current owner Mike Heller, president of development firm Heller Pacific, could still carry out a project at 1928 Capitol Ave. himself.

Senior Reporter Ben van der Meer has details about the Midtown Sacramento development site that’s listed for sale.

Source: Sacramento Business Journal

After sale, Fulton Avenue office property to become Kokopelli Veterinary Center

In a sign of the times for office demand, a recently sold office building in Arden-Arcade is headed for a new use.

As soon as early 2024, Kokopelli Veterinary Center will open at 1420 Fulton Ave., a two-building property separated by a parking lot. Ross Relles III, a senior associate at commercial real estate brokerage Marcus & Millichap, represented the seller. Scott Kingston of Turton Commercial Real Estate represented the buyer.

Source: Sacramento Business Journal

With Salvator complete, Community HousingWorks vies for Downtown Sacramento affordable project

The nonprofit developer has acquired 1511 I St. in recent weeks in a bid to expand the impact of a potential project that would include a neighboring property owned by the state of California on the northeast corner of 15th and I streets.

As part of the state’s request for qualifications for the property at 825 15th St., Community HousingWorks has submitted a potential project, including 1511 I St., of 69 affordable units.

Records show Community HousingWorks paid $2.55 million for 1511 I St., in a deal brokered by Turton Commercial Real Estate. The seller appears to be a partnership of developers Mark Friedman and Mike Heller.

Source: Sacramento Business Journal

Commercial real estate broker Ken Turton buys Midtown commercial property for rehab, new tenants

Ken Turton, the founder of urban core-centered Turton Commercial Real Estate, said he realized a market opportunity when previous owners listed 1026 22nd St. for sale with his brokerage.

A two-story building with retail space on the ground floor and four apartments on the second, 1026 22nd St. also has two retail spaces in a separate building to the north and a four-car garage.

After the previous owners accepted the offered price and sold last month, Turton said he began working on an improvement plan for a building that hadn’t seen such work in decades and was built nearly a century ago.

Source: Sacramento Business Journal

Citing market conditions, CalPERS pauses marketing for 301 Capitol Mall

A long-sought opportunity site for development in Downtown Sacramento is in quiet mode again, with the owner citing market conditions in pausing a marketing campaign to sell it.

The California Public Employees’ Retirement System is in no hurry to sell the full-block site at 301 Capitol Mall, so it’s waiting for more favorable winds to start pushing it again, said spokesman John Myers.

Myers also said there are no changes at this point to the existing marketing for the project, which Turton Commercial Real Estate has primarily handled. The boutique commercial real estate firm still has a listing on its website for the property, but links to specific marketing websites for 301 Capitol Mall are inactive.

Source: Sacramento Business Journal

5 things: New Natomas restaurant, Ken Turton’s latest purchase, update on former Sac Bee site

Ken Turton of Turton Commercial Real Estate in Midtown Sacramento bought a retail/apartment property at 22nd and K Streets, just blocks from his company’s office, after other offers didn’t match what he thought it was worth.

Senior Reporter Ben van der Meer has details about Ken Turton’s Midtown property purchase.

Source: Sacramento Business Journal

Lincoln building that housed Oliver’s Brewhouse listed for sale

Oliver’s Brewhouse & Grill in downtown Lincoln has shut its doors, and the large building where it was located is also listed for sale. Matthew and Siobhan Oliver, who operated Oliver’s Brewhouse, announced their decision to permanently close the business at 645 Fifth St.

The downtown Lincoln property is listed by Turton Commercial Real Estate for $3.2 million. The building is 12,800 square feet and has two stories, plus a mezzanine, according to the listing.

The Olivers operated multiple concepts in the Lincoln building. In addition to a brewery and restaurant on the bottom floor, there was also a whiskey bar and additional restaurant space called Antler Steakhouse. All those elements were included when Oliver’s Brewhouse & Grill was listed for sale late last year.

Source: Sacramento Business Journal

Farm-to-fork restaurant Flora & Fauna plans to open by fall in Downtown’s Park Tower

A recent participant in the Calling All Dreamers program is planning to open a restaurant in one of Sacramento’s signature skyscrapers.

Flora & Fauna, a farm-to-fork restaurant emphasizing California-style cuisine, is aiming for a September opening in Park Tower at 980 Ninth St.

The restaurant, which will occupy a space of about 2,200 square feet, will source ingredients from 50 miles away or less as much as possible, and no more than 150 miles away in other cases, Feldman said. She said that will also mean making many meals from scratch or sometimes buying items from other local small businesses. Breakfast and lunch items will go alongside the restaurant’s coffee menu, Feldman said. In addition to serving meals, the restaurant will host farmers and other artisans for special evening events, she said.

Tom Conwell of Newmark represented the landlord in Flora & Fauna’s Downtown lease. Aaron Marchand of Turton Commercial Real Estate worked on behalf of the tenant.

Source: Sacramento Business Journal

Bauen Capital plans early 2024 start for Grower’s District project in River District

An ambitious project to remake two blocks in Sacramento’s River District should start construction in early 2024, according to the developer.

One aspect of the project is already underway, with Turton Commercial Real Estate marketing commercial spaces in an existing U-shaped industrial building that occupies a full city block at 200 N. 16th St.

Grower’s District is entitled for about 500 residential units and 70,000 square feet of commercial space. Bauen Capital still plans to build the project to those levels, Kohlenbrener said. Construction will be for four residential projects within Grower’s District: seven- and five-story buildings extending from the existing building on 200 N. 16th, and two new five-story residential/commercial projects at 211 and 215 N. 16th St.

Source: Sacramento Business Journal

Retro Lodge adaptive reuse project in Downtown Sacramento going back to being a hotel

More than a decade after being converted to office and retail space, Offices at Retro Lodge in Downtown Sacramento is going retro. New owners have filed plans with the city to turn the property at 11th and H streets, originally built as a hotel in the 1950s, back into that use.

According to the application, the project will involve both exterior and interior renovations and improvements, including replacing existing mechanical units, new doors and windows and creating a new hotel lobby. Immortal Cafe, a plant-based cafe, will still occupy about 1,000 square feet at 1111 H St., serving coffee, wine and beer, either inside or on an outdoor patio.

Source: Sacramento Business Journal