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With the keys to the building nearly in hand, Cassadyne LLC is making plans to renovate 731 K St., a three-story building in the heart of a redevelopment area of downtown Sacramento. The property is currently in escrow, with Turton Commercial representing both the buyer and the seller.
From the mixed-use project at Q and 19th streets in midtown Sacramento, to 16th and H streets, where the foliage is stripped from the former Clarion hotel and prep work is happening on the parking lot across the street, the takeaway is the same: Sotiris is back. Ken Turton, of Turton Commercial Real Estate, said “Kolokotronis demonstrated the ability to deliver in all phases of a project: concept, design, regulatory approvals, financing and construction.”
The original group was founded by Hodgson and Chase, who is now retired as a deputy state architect. The next year, Dean O’Brien (of Cal-Mortgage Loan Insurance Program) and Timothy Denham (principal in charge of urban planning at Wood Rodgers) joined as organizers. Patrick Stelmach (of Turton Commercial Real Estate) and Verna Sulpizio (of Visit Sacramento) later formed the core that rides into 2018.
A building long planned as a future Sports Basement outlet in downtown Sacramento has sold to a partnership including members of a prominent local development firm. Ken Turton of Turton Commercial Real Estate, who brokered the sale with Aaron Marchand of Turton Commercial, said a winding path for the building’s future got longer over the last couple years. But the partnership involving D&S is well positioned to make something happen there, given the firm’s past history of delivering on attractive, successful urban core projects, he said.
An office building in the trendy midcentury modern architectural style has sold, with plans for renovations, but not changes. The two-story, 10,000-square-foot building at 1220 H St. in downtown Sacramento sold to Clifford Orloff of Sacramento last month for $2.2 million, according to property records. John Mudgett, a senior director at Turton Commercial Real Estate who brokered the sale on behalf of former owner Cal Del Presidio Investments LLC, described the new owner as a Bay Area-based investor who bought 1220 H St. as the second part of an exchange deal
A recent downtown Sacramento real estate transaction could open the way to renovating a historic hotel and developing a new 95-unit residential project. The long-shuttered former Mansion Inn at 1601 H St. sold for $5.15 million to Sacramento’s SKK Developments and The Grupe Co. of Stockton, according to a news release from brokerage Turton Commercial Real Estate.
The search for a steward to buy the Historic City Hall building in downtown Davis has ended, as Engstrom Properties’ bid was accepted on Nov. 21. The bid was $3.5 million and will be split between the city and public entities, such as school districts. Before the bid was accepted, the city was contracted with Turton Commercial Real Estate to sell the building. Scott Kingston, the vice president of the company, commented on Engstrom Properties taking ownership of City Hall. “We are very fortunate to have received offers from many qualified buyers, and we couldn’t be more excited than to have Engstrom Properties in escrow to buy the building,” Kingston said. “They have a tremendous amount of local retail development and leasing experience.”
Monarch Printing sold its midtown Sacramento building at 819 19th St., which will be repositioned for office or retail use. The printing business itself, meanwhile, was sold to another buyer and will continue at another location, according to the broker who handled the building sale. John Mudgett of Turton Commercial Real Estate said the sale closed earlier this month of both 819 19th and nearby 1925 H St., which served as parking for the building. The structure at 819 19th is about 9,600 square feet, while the lot is about 6,400 square feet, he said.
Tech consulting firm KAI Partners Inc. will establish its first dedicated location in February, a 9,000-square-foot lease in Cannery Business Park in Sacramento. Scott Kingston of Turton Commercial Real Estate and Mark Hefner of Mohr Partners Inc. represented Wood Rodgers on the lease.
Engstrom Properties, which owns and operates several commercial properties in Davis, is the probable new owner of the Historic City Hall building at 226 F St. in downtown Davis. Turton Commercial Real Estate was the successor agency’s broker for the sale, marketing the property and helping to evaluate the four offers received.