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6 Things About a Planned Renovation of 731 K St.
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.
Sacramento Group Bikes to the City’s Coolest Projects
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.
After Hard Times, Kolokotronis Makes a Comeback
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.”
This Midtown Building just Sold for $32.5 Million
Sacramento’s 16 Powerhouse apartment building, a “luxury” mixed-use space across from Fremont Park in midtown, has sold for $32.5 million.
Midtown Printing Building Sold, New Use Planned
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.
New Ownership for Historic City Hall
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.”
Former Downtown Hotel Property Sold for $7.5 Million
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.
Consulting Firm Leases its First Space in East Sacramento
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’ Bid for Davis’ Historic City Hall Accepted
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.
Indie Capital Scoops Up Land for Housing on Broadway
Infill single-family homebuilder Indie Capital has scooped up another vacant parcel along Broadway in Sacramento. The local builder closed escrow in the last few weeks on 25,600 square feet of property on the northwest corner of Broadway and Ninth Street, said a broker on the deal. John Mudgett, of Turton Commercial Real Estate, said the builder is planning to develop the site with a combination of single-family and possibly multifamily homes.