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9/21/22
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Locally-based Bardis & Miry Development paid $9.05 mil for Executive Commons, a 47k sf ($192.50/sf), two-story office building in Sacramento. Located at 350 University Ave, the multi-tenant property was 95% leased at the time of sale.
Originally built in the mid-1970s, the freestanding building sits on just over 2.5 acres. The location is close proximity to Hwy 50, Interstates 80 and 5, and is a short drive to Cal Expo and midtown and downtown Sacramento. It is also a short walk to a variety of retail, restaurant and shopping amenities and near the American River Bike Trail.
Kevin Partington and Ben Corfee with Cushman & Wakefield represented the seller, 350 University Partnership, in the off-market transaction.
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