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7/30/21
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Nome Ventures has purchased The Ziggurat office building in Sacramento in a $90 mil deal. The 373.7k sf, 10-story office property, located at 701-707 3rd St, is a pyramid-shaped structure and one of Sacramento’s most recognizable and iconic buildings.
The building is 100% leased to the State of California, Department of General Services, which has been headquartered at the building since 2001 and recently renewed its lease. The transaction included the adjacent six-story parking structure.
The acquisition was financed with a $59 mil loan, provided by Citigroup Capital Markets and arranged by Greg Grant with CBRE. Nome Ventures purchased the property from Zurich Alternative Asset Management.
This was Nome’s second office acquisition in Sacramento this year, having acquired an office campus at 1625 and 1747 North Market in April for which CBRE also arranged financing.
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