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8/19/22
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Aug 19 Four-Building Office Complex in the Sacramento Area Trades for $49.3 Mil
Venture between ProEquity Asset Management Corporation and Solaris Capital buys 245k sf asset in sale/leaseback deal with Blue Shield of California
A joint venture between ProEquity Asset Management Corporation and Solaris Capital acquired a four-building, 245k sf Class A office complex in the Sacramento area community of El Dorado Hills for $49.3 mil in a sale/leaseback deal. The assets were sold by Blue Shield of California, who plans to continue occupying two of the buildings.
The property, located at 4201-4207 Town Center Blvd, boasts modern amenities, including a fitness center, on-site café, solar panel covered parking lot and more. In addition, the campus has upgraded lighting, power, elevators and fire and life safety systems.
4201-4207 Town Center Blvd is located with Hwy 50 frontage, providing convenient access to downtown Sacramento and the broader Bay Area. Furthermore, the office complex is within walking distance of retail, dining and entertainment amenities, including El Dorado Hills Town Center.
Positioned within the Highway 50 corridor, the property benefits from the influx of tenants coming from Downtown Sacramento and the San Francisco Bay area looking for affordable office space. 4201-4207 Town Center Blvd also benefits from the area’s affluent and educated workforce, with 44,000 workers within five miles of the complex, 55% of which have a bachelor’s degree or higher and an average household income of $199,000.
Adam Lasoff, Erik Hanson and Johnny Van Der Velden with JLL Capital Markets Investment Sales and Advisory team represented the seller in the deal. JLL’s Tom Maloney and Michael Stassi also assisted with the sale and lease negotiation.
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