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A Bay Area firm with a track record of putting new life into old buildings has purchased an Old Sacramento structure to renovate it. Cypress Properties Group LLC, based in Lafayette, closed escrow last month on 914 Second St. for $1.325 million. The three-story, 27,900-square-foot building dates to 1856. Jon Lang, a vice president at Turton Commercial Real Estate who worked on the sale, said Cypress plans to make a significant investment in the building, which is mostly vacant.
Student housing and retail is being planned for one of Sacramento Regional Transit District’s light-rail parking lots. The 65 East project at 65th Street and Folsom Boulevard in Sacramento, with 142 apartments and 8,000 square feet of retail, is one of several redevelopment proposals on RT-owned properties.
West Sacramento’s Engstrom Properties has acquired the former Davis City Hall, now occupied by a Bistro 33 restaurant. Engstrom, which already owns two shopping centers in Davis, closed escrow in late May on the property at 226 F St. for $3.5 million, according to property records. Ken Turton of Turton Commercial Real Estate, who listed the property with Scott Kingston of Turton Commercial, said the property received multiple offers above the listed price.
Two firms involved in construction are the first announced office tenants for the Ice Blocks project in midtown Sacramento. ConSol, which provides research and consulting on residential and commercial building energy efficiency, will move into the project at 16th and R streets along with sister organization CHEERS.
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.