Turton in the news
Recent mentions
High-end Coffeehouse Planned in East Sac
One of Sacramento’s high-end coffeehouses is opening a cafe on the “S” curve on H Street in East Sacramento. The location is a former real estate and travel agency office at 4201 H St., which is being converted “to accommodate Sacramento’s premier high end coffee user,” according to a sales flyer for the building, which is being marketed by Turton Commercial Real Estate. Turton isn’t commenting on which local roaster is committed to the building. There are multiple businesses that would fit the profile described in flye
Sutter Health Naming Rights Help Fund Capital Public Radio’s Downtown Move
Capital Public Radio’s move into new studio space in downtown Sacramento is being assisted by a naming rights deal with Sutter Health, which will create the Sutter Health Center for Community Engagement at Cap Radio’s new headquarters. The public radio station now broadcasts from the campus of California State University Sacramento, where it is crowded into 16,000 square feet of office and studios.
Downtown Sac Building Sold as Opportunity Zone Investment
An opportunity zone investor has plunked down $5.5 million to acquire a vacant property in a redeveloping part of downtown Sacramento. Bauen Fund 2018-830 LLC bought the 55,784-square-foot building at 830 K St. last Friday, according to Turton Commercial Real Estate. Ken Turton, one of four brokers on the deal, said the group bought the vacant, four-floor building specifically to take advantage of tax breaks for “opportunity zones” created under the 2017 federal tax law.
RT Sells Arden Land For Apartment Development
The Sacramento Regional Transit District has sold a 2.81-acre site on Arden Way to a group planning to develop affordable housing there. The properties, 880/924/936 Arden Way, sold earlier this month for a combined $821,818, according to property records. Ken Turton of Turton Commercial Real Estate, who was marketing the property on behalf of Regional Transit, said he fielded higher offers. But those offers came with concepts for the property that didn’t fit what transit agency directors hoped to see, he said.
Ambitious Tower 301 Project Could Dramatically Change City Skyline
Plans have been filed for a 33-story mixed-use tower for 301 Capitol Mall, in a project that promises to change downtown Sacramento’s skyline and fill one of its most notably empty spots. While welcoming the news, observers said the onus now is on developer CIM Group to turn the proposal into an actual project. And people who specialize in office leasing said that while the building is slated to have a sizable chunk of new Class A office space, it’s not clear if the local market is ready.
Sale of Downtown Sac Building Could Spark Changes to Neighborhood
The sale earlier this month of a sizable building on a redeveloping downtown Sacramento corridor could accelerate changes in its surroundings. Bauen Fund 2018-830 LLC, which bought 830 K St. for $5.5 million, was particularly motivated by the property’s inclusion in an opportunity zone, according to brokers on the deal. Created by the 2017 federal tax law, opportunity zones are federally designated areas where buying properties or starting new businesses allows investors to avoid capital gains taxes.
Calling All Dreamers Winner Finds a Location
NEO Escape Rooms, the concept that won last year’s Calling All Dreamers competition, will be the second consecutive winner of the business plan contest to open on the Old Sacramento Waterfront. Gabriel Berzamina and Acme Lee, the co-founders of the business, have signed a lease for a 3,787-square-foot space at 1124 Second St., representatives from the Downtown Sacramento Partnership confirmed Monday.
Large Site Near R Street For Sale For Nearly $11 Million
Three blocks south of Sacramento’s R Street corridor, a building for sale or lease occupies more than three quarters of a square block. Because of its size, 1300 U St. could have a number of potential futures, including redevelopment, according to brokers on the deal. “The area has kind of grown up around it,” said Ken Turton, president of Turton Commercial Real Estate. “That whole location has changed, and its value proposition has changed.”
Brazilian Coffeehouse Planned in Point West Business Park
Tupi Coffee Brazilian Flavors is set to open next month in 800 square feet in Point West Corporate Center on 1610 Arden Way in Sacramento. Owner Eduardo Faustino said the coffeehouse will have both beans sourced from Brazil and baked goods typical of that country, using ingredients from there. Brazilian baked goods, representing the mix of cultures the country celebrates, have influences from European, African and Brazil-native food styles, he said.
Architectural Firm Coact Designworks Closing Down
Architectural firm Coact Designworks is closing up shop, the company president said Monday. At the time of the decision to close, the firm had about 30 employees, said president Pat Derickson of the Sacramento-based firm. Formal dissolution will take several months, he added. “Coact is winding up its business and dissolving,” he said Monday. Asked why the firm was closing, Derickson said he couldn’t speak further and ended the conversation.