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

Published on April 2, 2024

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.

Published on March 25, 2024

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.

Downtown Sacramento office building, nearly fully leased, sold for first time

Published on March 12, 2024

A Downtown Sacramento office building that is nearly fully leased has sold for the first time. Escrow closed March 1 for 901 H St., a six-story, 51,340-square-foot building built in 1964 that has been under the same ownership until now. “It’s not only a stable, cash-flowing asset, but there’s the possibility of conversion into office condos or a residential use,” said Jack Scurfield, a director with Turton Commercial Real Estate who helped broker the deal. “The buyer toured the building and quickly saw the vision.”

Scurfield said the building sold for $5.375 million, or about $1.35 a square foot for the portion of the building that can be leased. In addition to Scurfield, Ken Turton of Turton Commercial brokered on the sale.

Source: Sacramento Business Journal

Pizza restaurant Hot Italian returning to Sacramento with to-go format

Published on March 5, 2024

Pizza eatery Hot Italian, which previously operated restaurants in Midtown Sacramento and Davis, is returning to the area with some changes to its format.

Co-founder, Cercatore recently stated on social media that Hot Italian would be returning to Sacramento, where it was planning to open a to-go location at 1829 22nd St. in the soon-to-open Midtown Kitchens, a ghost kitchen concept backed by Los Angeles-based Maker Kitchens that is filling an industrial building at the former Sacramento Bee plant. Ghost kitchens are commercial kitchens set up to prepare meals for delivery and takeout only, sometimes under multiple restaurant brands.

Scott Kingston and Kimio Bazett from Turton Commercial represented the owner in this deal.

Source: Sacramento Business Journal

Bike Dog Brewing adding East Sacramento taproom

Published on February 22, 2024

West Sacramento-based Bike Dog Brewing Company is expanding into East Sacramento and will be occupying a space fans of the local craft beer scene might be familiar with.

Co-owner Sage Smith told the Business Journal on Thursday that Bike Dog Brewing is planning to fill an approximately 7,000-square-foot space at 1210 66th St., near the California State University Sacramento campus. The location, which was most recently occupied by Lodi-based High Water Brewing, will serve as a taproom for Bike Dog.

Smith said the space checked several boxes of an ideal location for the business, which had been looking to expand for a little over a year. The site’s outdoor space is large enough to allow guests to bring their dogs, while the indoor space has enough room to host large gatherings and is flexible for any future projects. The space does not currently have a kitchen. Smith said the plan is to initially start out by bringing in food trucks before eventually building out a permanent kitchen in the space.

Matt Axford and Kimio Bazett with Turton Commercial represented both the tenant and the landlord.

Source: Sacramento Business Journal

 

My Burma restaurant filling former Pieology space in Downtown Sacramento

Published on January 11, 2024

Pieology permanently closed its restaurant at 1020 16th St. in Sacramento earlier this week after nearly a decade in the space.

Michael Heller, president of local developer Heller Pacific, which owns the building, said the operators of Burmese restaurant My Burma, which operates a restaurant formerly branded as Burma Eats in Davis Commons, have signed a lease to take over the space. He said the new location will be an expansion for the restaurant. The incoming restaurant specializes in Southeast Asian cuisine. Menu items include platha (flatbread) and coconut chicken curry dip, Burmese-style pad thai, lemongrass pork, garlic and chili shrimp, and lemon and paprika lamb.

My Burma is anticipated to open its 16th Street restaurant around July, Heller said. It will join quick-service restaurant Green Grill, which is known for its vegan fare. The restaurant chain, which formerly did business as Baagan, announced plans last September to fill an approximately 1,000-square-foot space at the O1 Lofts building.

O1 Lofts, a three-story mixed-use development, has 7,000 square feet of retail space. Heller said a letter of intent has been submitted for the remaining ground-floor retail space at the development, last occupied by Starbucks.

Source: Sacramento Business Journal

Local retailer Strapping looking to sublease space in Ice Blocks

Published on January 10, 2024

Retail space in Midtown’s Ice Blocks is hard to come by, but a current tenant is looking to find someone to take over their unit.

Locally based gift shop Strapping, which opened a store in the mixed-use development’s Ice Shed block in 2022, is marketing its space for sublease. The shop currently occupies an approximately 900-square-foot end space at 1715 R St., Suite 150.

Broker Jack Scurfield of Turton Commercial Real Estate said the suite has received some interest from potential tenants, but is currently available. Leasing materials indicate the space, which has been available since the start of the year, is the only retail unit available in Ice Blocks.

Source: Sacramento Business Journal

Trackside Center project in Davis sold to Bay Area owners, won’t proceed for now

Published on November 16, 2023

A group of trusts from the East Bay, including Pathak Trust and Sharmda Sampda Trust, bought both the site and entitlements for Trackside Center, planned for 901-919 Third St. in Davis.

“The plan as far as I know is to take it as a retail value-add investment,” said Scott Kingston, one of three Turton Commercial Real Estate brokers on the deal. “We’ve already got three potential tenants.” Kingston said that at least in the short term, they won’t be pursuing the full entitlement project — a four-story, 56,881-square-foot building on the site with 27 apartments and 7,320 square feet of retail space.

In addition to Kingston, Kimio Bazett and Patrick Stelmach of Turton Commercial worked on the deal.

Source: Sacramento Business Journal

Camping World site on Rocklin’s Toy Row sold to Utah-based buyer, planned for new use

Published on November 9, 2023

An unidentified buyer based in Utah bought the 4435 Granite Drive property earlier this week, likely for a future use related to automotive sales or service, said listing broker Ken Turton of Turton Commercial Real Estate.

Until recently, the 4.7-acre site with a 29,380-square-foot building was the home of Camping World (NYSE: CWH), a Lincolnshire, Illinois-based retailer of camping goods and RVs. The sale follows the store’s closure, Turton said.

While Turton Commercial had the listing, Turton said, an independent appraisal valued the property at about $5 million. Because of his firm’s familiarity with the market, he said, they priced it higher, at $7 million, and weren’t far off from the final price. In addition to Turton, Scott Kingston and Jon Lang of Turton Commercial worked on the deal.

Source: Sacramento Business Journal

The Amalia in Curtis Park is now Fully Leased!

Published on October 27, 2023

Turton CRE is pleased to announce the arrival of R Cubed Lifestyle to the new mixed-use Amalia project at the corner of 24th Street and Castro Way in Curtis Park. After seven years in business in the Land Park neighborhood, the lifestyle boutique’s ownership is pursuing their second location within the central city to expand their reach, just in time for the 2023 holiday shopping season. With R Cubed Lifestyle occupying the final ground floor retail suite and the second story residential units filled immediately after their offering, the building is now 100% leased. Kimio Bazett and Scott Kingston from Turton CRE represented both the Landlord and the Tenant in this transaction.