Pizza restaurant planned for former Old Sacramento saloon

Frankie’s Pizza will occupy an approximately 4,000-square-foot space at 200 K St. in Old Sacramento. The restaurant is being opened by father and daughter Frank and Marissa Bell.

Jack Scurfield of Turton Commercial Real Estate, who along with his colleague Patrick Stelmach represented the landlord in the deal, said the space has been vacant for over a decade.

The plan is for the restaurant to be open seven days a week, from about 10:30 a.m. to 10 p.m., though hours of operation are still being determined.

Source: Sacramento Business Journal

Asian American restaurant planned for Midtown Sacramento

An Asian American restaurant is planned for a Midtown Sacramento commercial building most recently occupied by a home decor store and gelato business. Sunny Side Restaurant will occupy 1221 19th St. in Sacramento, an approximately 2,200-square-foot building near the corner of Capitol Avenue and 19th Street.

Jack Scurfield, a director with Turton Commercial Real Estate, said the former tenants of the building were Devine Gelateria & Cafe and home decor chain AR Workshop, which both had ceased operations out of the building by the start of the year. Scurfield, along with his colleague Scott Kingston, represented both the tenant and the landlord in the deal.

Source: Sacramento Business Journal

Spotlight on John McCallum, Turton Commercial Real Estate

A commercial real estate veteran, John McCallum has joined boutique brokerage Turton Commercial to specialize in financing deals.

Why did you decide to make the move to Turton?

I’ve been with MacLaughlin & Co. as a borrower advocate and broker since 2010. It’s about the exposure here, and the marketing and, honestly, the challenge in building a team. I want to pass along what’s been freely given to me. And I can continue to advocate for borrowers, because I don’t work for banks.

Source: Sacramento Business Journal

5 Reasons why you should refinance your CRE now not later

Low interest rates, uncertainty, balloon payment, partnerships and buying more properties could mean refinancing your CRE now, not later.

Source: Turton Commercial Real Estate

D&S Development buys two-property Midtown site for $3.5 million

Records show D&S Development bought 1020 21st St./2015 K St. for $3.5 million from developer Mark Friedman, though records suggest Mike Heller, a frequent development partner of Friedman, was also involved. “It’s great real estate, no doubt about it,” said Ken Turton of Turton Commercial Real Estate, which brokered the sale of the two properties. “It’s never difficult to lease up a property in this area.”

Combined, the two properties are .58 of an acre, at one of the busiest intersections in Midtown. A two-story, 7,614-square-foot office building is at 1020 21st St., while much of the rest of the two properties is parking. It’s not clear if there’s a current tenant in the building.

Source: Sacramento Business Journal

After sale, concepts floated or former bank at 7th and L streets

Much hasn’t changed from the outside at 700 L St. in Downtown Sacramento. “We kind of see it as figuring it out in real time,” said Scott Kingston, who with Ken Turton and David Khedry of Turton Commercial has started marketing the building and working with San Jose-based Schwager on concepts. Currently, Schwager, Turton Commercial and potential tenants are discussing concepts and sharing possible plans and renderings of what the building would look like.

Source: Sacramento Business Journal

Clippinger offering office building near Capitol for purchase

The new listing of a Downtown Sacramento office building suggests more intrigue for the current owner’s local holdings. Turton Commercial Real Estate is listing four-story 1100 11th St. on behalf of Clippinger Investment Properties Inc., which has owned it since 2018. “This is the only building within a four-block radius of the State Capitol for sale of any size,” Scott Kingston said. “There is tremendous scarcity and infrequency of opportunities like this. We are very bullish on the property.”

Kolokotronis family buys Sacramento condo project for $4.45 million

Typically, SKK Developments in Sacramento sells projects after completing them, but members of the family behind the company turned that equation around in a recent deal. According to Sotiris Kolokotronis, his kids led the charge to buy the completed Penthomes condominium development within Sacramento infill project Mill at Broadway. Escrow closed in late December on the 12-unit project to Kolokotronis family members for $4.45 million. After Turton Commercial Real Estate listed the project for sale in September, there was as much buyer interest as any listing the firm had all year, said Scott Kingston of Turton, who brokered the deal with Ken Turton and Zachary Hooker.

As the River District Emerges, A Complicated Future Awaits

Most of Sacramento’s River District is still industrial, with decades-old warehouses and light industrial buildings along streets with relatively little foot traffic, other than people who don’t have homes. Like shoots through a crack in the sidewalk, though, there are signs of changes coming. Years of planning and then demolition has given way to several new multistory housing structures. Turton, whose firm specializes in urban core properties with adaptive reuse possibilities, said he’s been passionate about seeing new investment in the River District’s 16th Street area in the last few years.

Downtown Project on H Street Adds More Apartment Units

There are more design revisions for this development site that John Mudgett with Turton CRE sold to developer in 2017 to preserve the historic MCM facade and increase the density.