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• Trammell Crow Company and CBRE Investment Management Start Work on NoCal Distribution Project
1/24/22
Trammell Crow Company and joint venture partner CBRE Investment Management have broken ground on Tracy 205 Logistics Center, a 606.3k sf, state-of-the-art logistics facility in Tracy, CA. The spec, cross-dock industrial build...
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• Retro Res Sale in Sacramento Fetches Modern Price of $235k/Unit
1/13/22
The Retro, a 204-unit multifamily community located at 2500 Fair Oaks Blvd in Sacramento’s Arden-Arcade submarket, sold in a $48 mil ($235.3k/unit) deal. Clear Capital purchased the asset from Ridge Capital Investors.
The Re...
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• Fairfield, CA Multifamily Trade Comes in Just Over $200k per Unit
1/10/22
Delta Court Apartments, a 177-unit residential property in Fairfield, CA, traded hands for $37.35 mil, or $210.5k/unit. Built in 1962, the property is located at 1350 Crowley Ln, east of I-80 roughly midway between San Franci...
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• Oakmont Properties Pays $85.6 Mil for Newly Completed Sacramento Area Res Project
12/31/21
Oakmont Properties purchased Element 79, a 214-unit multifamily community in El Dorado Hills, CA, for $85.6 mil ($400k/unit). The property, located at 4373 Town Center Blvd, was just recently completed by AG Spanos, the selle...
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• E-Commerce and Logistics Companies Fuel a Recovery in the Sacramento Industrial Market
12/29/21
Sacramento Industrial CRE Market Update – 4th Qtr 2021
This report was provided by real estate services firm Kidder Mathews
Market Drivers
• Direct vacancy rates decreased 43.3% year-over-year (YOY) from 6.0% in 2020 to 3.4...
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• Single-Tenant Industrial Facility in Sacramento Fetches $179/sf
12/21/21
A 206k sf, single-tenant industrial warehouse in Sacramento’s Natomas submarket sold for $36.9 mil ($179/sf). The asset is located on over nine acres at 1701 National Dr, near the Sacramento region’s main traffic arteries, I-...
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• Trion Properties Acquires 197-Unit Multifamily Property in the Sacramento Area
12/20/21
Trion Properties purchased ReNew Carmichael, a 197-unit apartment community located in the Sacramento-area city of Carmichael, for $46 mil in an off-market transaction. The property was sold by FPA Multifamily in a deal that ...
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• Sacramento Retail Center Picked Up by Phillips Edison & Company
12/01/21
Phillips Edison & Company Inc acquired Town & Country Village, a 216.3k sf, dual grocery-anchored community center in Sacramento. A price was not given out.
Anchored by Trader Joe’s and Sprouts Farmers Market, the 91%-leased...
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• Sacramento Multifamily Property Fetches $38 Mil
11/30/21
Westlake Apartments, a 148-unit multifamily property in Sacramento, sold for $38 mil ($256.8k/unit). The property, located at 1 Shoal Court, was sold by Graceada Partners.
During its 15-month hold period, Graceada Partners s...
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• Iconic National Hotel in Historic Jackson, CA Trades Hands
11/18/21
The iconic National Hotel, located at 2 Water St in historic downtown Jackson, CA, in the heart of California’s Gold Country, recently changed ownership. Hari Johl, a successful hotelier who operates several Hilton-flagged pr...
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• Anthem Properties Group Locks Up $59 Mil in Construction Money and Equity for Sacramento Res Development
11/16/21
Anthem Properties Group, out of Canada, has obtained $39 mil of construction debt and $20 mil of equity for a new 137-unit development in Sacramento. George Smith Partners arranged the loan and advised on the equity placement...
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• PCCP LLC and Panattoni Development Company Building 186k sf Industrial Project in Sacramento
10/28/21
A joint venture of PCCP LLC and Panattoni Development Company Inc will develop Natomas Advanced Logistics Center, a two-building industrial project totaling 186k sf located at Duckhorn Dr and Arena Blvd in Sacramento. The pro...
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• JB Matteson Inc Closes Six Multfamily Assets Refis Totaling $132 Mil
9/24/21
JB Matteson Inc has refinanced six CA and WA multifamily properties comprising a total of 965 units in separate transactions totaling $132 mil.
The six permanent loans were arranged by Dennis Williams and Tom Wight of NorthM...
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• Vacant Industrial Building in the Sacramento Area Gets New Owner in $12.45 Mil Deal
9/15/21
A vacant, 129.5k sf industrial-flex building in the Sacramento area sold for $12.45 mil ($96/sf). The building, located at 4837 Watt Avenue in North Highlands, was acquired by Exeter 4837 Watt LLC.
Built in 1987 for use as a...
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• Intercontinental Real Estate Corporation and Security Properties Team Up in Recapitalization of 244-Unit Sacramento Multifamily Property
9/09/21
Intercontinental Real Estate Corporation has entered into a joint venture with Security Properties to acquire Broadleaf Apartments, a 244-unit, Class B+ garden-style apartment community in Sacramento, for $87.5 mil ($358.6k/u...
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• Kennedy Wilson Fund VI Closes $120 Mil Multifamily Sacramento Area Acquisition
9/02/21
Kennedy Wilson Fund VI has acquired Autumn Ridge, a 410-unit, garden-style apartment community in Sacramento’s Citrus Heights suburb for $120 mil, or $293k/unit. Kennedy Wilson Fund VI (“Fund VI”) is a commingled fund managed...
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• Hometown America Buys 410 Manufactured Home Sites in California
8/30/21
Chicago-based Hometown America acquired two California manufactured home communities totaling 410 home sites. The properties, Diamond K Estates in Roseville and Carman Ranch MHC in San Diego, were sold by a SoCal-based family...
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• Penumbra Inks Sacramento Area Expansion Lease for an Additional 96k sf of Office/Lab Space
8/11/21
Penumbra, a global healthcare company, has expanded into an additional 96.5k sf of Class A office / lab space in the Roseville Innovation Park in Roseville. The company’s new lease at 620 Roseville Pkwy will bring its total o...
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• Community Preservation Partners Closes on 18-Unit Affordable Housing Project in Sacramento
8/11/21
Community Preservation Partners (CPP) closed on a NoCal affordable housing buy, acquiring Grand Ave Villa, an 18-unit apartment property in Del Paso Heights. Built in 1974, the complex is CPP’s smallest holding and its first ...
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• Rancho Cordova Industrial Asset Fetches $146/sf
8/04/21
A 108.4k sf industrial property in Rancho Cordova sold for $15.8 mil, or $146/sf. The property was sold by Corsair Management Limited Partnership.
Located at 11380 White Rock Rd, the property was originally constructed in 19...
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