New residential project planned near 65th and Folsom in Sacramento

Records show Bains Property Inc., with an address in Ketchikan, Alaska, bought the property in early May for $1.2 million. There was no contact information for the buyer. The sale closed about two weeks before the water test request was submitted to the city. Turton Commercial Real Estate broker Jack Scurfield, who worked on the seller’s side for the deal, said the new owner might pursue a project down the road, but not imminently. “I know they bought it as a covered land play,” he said, adding the plan for now will be to find a new tenant for the existing 5,000-square-foot building on the property. “They may entitle it and eventually go ground up about five stories.” Turton Commercial’s online brochure for the property mentioned that going vertical would be an option for a new owner. “Aside from the opportunities presented in the existing 4,960 SF building, the site also lends itself well as a mixed-use development play with flexible Residential Mixed-Use zoning in place,” Turton’s listing on LoopNet for the property states. “Preliminary conversations with the City indicate a project of up to four stories is feasible, with ground floor retail and residential units (potentially student housing) above.”

Jack Scurfield, a director, and Ken Turton represented the seller on the sale.

Source: Sacramento Business Journal

HK3 sells Southsider apartment/retail project south of Downtown Sacramento to Ventura buyer

In a rare new urban development sale, the Southsider project south of Downtown Sacramento is now owned by an investor from Ventura County.

Turton Commercial brokered the sale of the four-story apartment and retail project developed by HK3 Development, which didn’t return a message seeking comment.

“We always loved the diversity of Southside Park, and believed it flew under the radar given its proximity to Downtown, Midtown, parks, recreation, restaurants and nightlife,” HK3 Principal Fred Khasigian said in an announcement about the sale released by Turton Commercial. “After speaking with residents and doing community outreach over several years, we decided to execute this project and by 2021, we were proud to deliver Southside Park’s first mixed-use project.”

Escrow for the property closed in 24 days, according to Turton Commercial, noting Southsider is the first apartment property of more than 15 units to have sold in Midtown or Downtown Sacramento in the last six months.

Ken Turton and Jon Lang of Turton Commercial represented the seller in the deal.

Source: Sacramento Business Journal

Redefining the Core: Downtown Sacramento

This article gives an overview of Downtown Sacramento projects in various stages of development including projects in the works, proposed, or completed in the central city. Turton Commercial Real Estate is involved with the following: Cypress at 1330 N St., 730 I Street, Lot X at 201 N St., and Envoy at 1010 11th St.

Source: Sacramento Business Journal

R Street Corridor Construction Projects

This article gives an overview of projects on the R Street Corridor in various stages of development. It’s part of the Redefining the Core coverage, which features projects in the works, proposed or completed in the central city. While proposed or in the works projects appear likely, it’s possible not every project will make it to the completion phase.

Examples that Turton Commercial Real Estate is involved include The Richmond, Ice Box, Maker and many more.

Source: Sacramento Business Journal

Major Construction Projects in Midtown Sacramento

This article gives an overview of projects in Midtown Sacramento in various stages of development. It’s part of the Redefining the Core coverage, which features projects in the works, proposed or completed in the central city. While proposed or in the works projects appear likely, it’s possible not every project will make it to the completion phase.

Examples that Turton Commercial Real Estate is involved in include Jefferson Block, Tribute Building, 21K, Old Tavern Building, and more!

Source: Sacramento Business Journal

Qisa Coffee filling space at The Amalia in Curtis Park

Qisa Coffee, which will specialize in Yemeni coffee mixed with Peshawari flavors, is planned for a 900 SF space in The Amalia, a newer mixed-use infill project in Curtis Park. Owner Abdul Aziz, said the shop will feature a menu of chai tea, Turkish coffee, espresso drinks, and small bites. Aziz is hopeful to have Qisa Coffee open by June 1st. Scott Kingston and Kimio Bazett with Turton CRE represented the tenant.

Source: Sacramento Business Journal

De Vere White brothers appear to be planning bar at The Richmond

The Richmond, a new mixed-use project being constructed in the R Street Corridor, is expected to be completed this year, and its first commercial tenant appears to be a well-known local food and beverage operator.

Broker Scott Kingston of Turton Commercial Real Estate, who handles leasing for the commercial spaces at The Richmond, said an approximately 2,500-square-foot space along 17th Street near Rice Alley has been claimed by a bar concept, but he declined to elaborate.

A recent filing with the California Department of Alcoholic Beverage Control indicates that bar concept is being spearheaded by Irish Hospitality Management Inc. and DVW Brothers LLC, both of which trace back to brothers Henry and Simon de Vere White, owners and operators of the Irish Hospitality Group. The filing stated the business, called Day Tripper, is in the process of having a liquor license transferred from former Downtown Sacramento bar Pre Flite Lounge.

Kingston said the remainder of the commercial space at The Richmond has not been claimed, though there has been interest shown from other food and beverage operators. He said the spaces are flexible and could range anywhere from 1,500 square feet to as much as 3,600 square feet.

Source: Sacramento Business Journal

Work underway on housing/retail project at Broadway and Land Park Drive

Construction started earlier this month at 1600 Broadway on what’s planned to be a five-story, 68-unit market-rate apartment project with retail space. According to revised plans approved by the city in 2022, 1600 Broadway will have apartments ranging from studios to two bedrooms, and from 466 to 853 square feet. Every apartment is planned to include a small outdoor patio or balcony as well. There will also be just under 8,000 square feet of retail space and 45 parking spaces. A previous proposal for the site had more retail space but fewer apartments and parking spots.

MarketOne Builders in Sacramento is the contractor for the project, which is on the southeast corner of Broadway and Land Park Drive. Turton Commercial Real Estate is handling leasing for the retail components.

Source: Sacramento Business Journal

Shingle Springs Band of Miwok Indians buys city block at 301 Capitol Mall in Downtown Sacramento

The Shingle Springs Band of Miwok Indians bought an entire city block on Sacramento’s Capitol Mall, the grassy avenue with landmarks the Tower Bridge and the state Capitol on either end. The tribe bought the land at 301 Capitol Mall for $17 million from the California Public Employees’ Retirement System, which has held the property since 2006.

While the tribe doesn’t have any immediate plans for the land, it is not closing the door on any ideas for the future, said Dustin Murray, vice chairman of the Shingle Springs Band of Miwok Indians Development Corp.

Turton Commercial Real Estate represented CalPERS in the sale of the property, specifically brokers Ken Turton, Scott Kingston and Matt Axford. “It might be the premier piece of land in Sacramento. It’s on Capitol Mall. It’s the first thing you see when you come off the Tower Bridge, and it’s near DoCo, the Golden 1 Center and Old Sacramento,” said Turton.

Source: Sacramento Business Journal

Second-generation restaurant space is in demand. Here’s a sampling of what’s available.

As the Sacramento region’s culinary scene continues to evolve, new eateries are looking to join established restaurant operators.

But they often face challenges in finding the right real estate, with the hottest commodity being second-generation restaurant space.

“Because of the heavy investment that restaurants require, second-generation spaces, which are those that were previously occupied by a restaurant and have seen investments and improvements made, are far more in demand than shell space,” said Scott Kingston, a broker with Turton Commercial Real Estate. “At that point, the criteria becomes location and size.”

Examples of 2nd generation restaurant spaces on the market are the former Club Pheasant, El Santo Restaurant & Ultralounge, P.F. Chang’s, Odd Cookie Bakery & Cafe, Biba Restaurant, and Good News Wine.