Turton in the news
Recent mentions
City Negotiates for Downtown Building for Convention Center Expansion
The city is negotiating with a law firm to buy its downtown Sacramento office in order to expand the Sacramento Convention Center. Law firm Lenahan, Lee, Slater & Pearse LLP owns an office condo that takes up about one-third of the building at 1030 15th St. The other two-thirds of the 36,000-square-foot building is owned by the city and occupied by city government offices.
Midtown Businesses Buy Building for $1.925 Million
After years of looking, two midtown Sacramento businesses have found and bought permanent homes. Escrow closed last week on the purchase of 2831 G St. by Capitol Tech Solutions and Midtown Dental Group. The property on two parcels includes a two-story, 10,000-square-foot office building and 24 parking spots, a considerable number for many midtown buildings.
Lack of Midtown Inventory Helps Mixed-Use Building
A dearth of midtown Sacramento commercial properties for sale helped push up the market for one on K Street. Broker John Mudgett of Turton Commercial Real Estate said the winning bid for 2420 K St. was $1.65 million, with six interested parties competing. Mudgett said the buyer, an investor with other properties and projects in the region, wanted to remain anonymous.
Turton CRE to Market 17 Regional Transit Properties
Turton Commercial Real Estate will market 17 properties on behalf of the Sacramento Regional Transit District, seeking development proposals that will encourage use of public transit. The properties are mostly remainder pieces left over from RT projects and light-rail extensions. They range in size from about a quarter of an acre to more than 40 acres, and in geography from downtown and midtown Sacramento to Rancho Cordova, Florin and Power Inn Road.
More than a Decade Apart, Same Brokers Work on Office Sale
In 2004, commercial real estate broker Fritz Brown had the solution when a downtown Sacramento office building was for sale without a tenant. He worked with the listing broker Ken Turton, then of CBRE Sacramento, and got a new owner, Randolph Family Trust, and a new tenant, an attorney.
EXCLUSIVE: Pieces Fall into Place for Midtown SKK Development
A three-phase project to add hundreds of new housing units to midtown Sacramento should get underway soon. Another step in that project involving SKK Developments and The Grupe Co. fell into place last week when Grupe purchased 52,000 square feet of property along P, Q and 20th streets. That property, next to the north-south rail line through the neighborhood, sold for $3 million.
After Hours: Redefining the Core 2016
The Sacramento Business Journal’s annual Redefining the Core event drew about 300 attendees to the historic railyard for a panel discussion on development trends in downtown Sacramento.
Redefining the Core 2016: Midtown Q&A with Arron Marchand
“The development climate is warm, but we would not view it as out of control or unsustainable. Developers are active, and the creative boundaries in development are being pushed to new limits. However, the rents must still be achievable and sustainable.”
EXCLUSIVE: Real Estate Heavy Hitters Detail Trends in Downtown Development
About 300 real estate and construction professionals turned out for Friday’s Redefining the Core, an annual Business Journal event that sheds light on industry trends in Sacramento. This year’s event was held at the paint shop at the railyard, where attendees received an unusual look inside the developing infill site. Here are five themes and announcements from the panelists.
Turton Blog: 4 Reasons to Trade Up Your Property Now – Multifamily
Real estate should represent an important part of everyone’s investment portfolio. Stocks can be very volatile as evidenced of late, and many are feeling the pain. Any property owner knows the tax benefits: writing off expenses and taking a deduction for depreciation. If your property is in the best location and you’re enjoying a healthy return on your investment, why cut a good thing short?