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September 27, 2023
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Historic Office Building in Sacramento Gets a New Owner


A 140.9k sf historic office building in Sacramento’s vibrant Government Affairs District has traded hands in a recent $20 mil ($142/sf) transaction. The building, located at 1130K St, a few blocks east of I-5, was sold by UC Regents.

Constructed in 1924 as the original Weinstock’s department store, 1130 K Street features a Romanesque four-story high arched entranceway and a half-dome colonnade window line spanning the fourth floor. The property is approximately 30% leased to a variety of public and private tenants with the largest tenant being UC Regents.

The property is proximate to the State Capitol as well as a myriad of amenities, including restaurants, cafes, hotels and entertainment venues located along K Street or in the Kay District. Additionally, the historic property is only four blocks from the growing Arena District that is home to Golden 1 Center, DOCO and numerous new residential units either planned or under construction. 1130 K Street is positioned within a designated Qualified Opportunity Zone, established as part of the Federal Tax Reform passed in 2017.

Erik Hanson, Rob Hielscher, Michel Seifer, Cheri Pierce, Kristina Wollan and Nick Deaver with JLL Capital Markets team represented UC Regents and also procured the undisclosed buyer.

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