In addition, Colliers also mentioned a more complicated
adaptive reuse is planned at 700 J Street, where Hume Development recently
applied for building permits to convert a 92,000 SF office building into the
95-room Hotel Eleanor. Staying Downtown, the State of California wrapped up the
$490 million renovation of the former Resources Building at 1416 Ninth Street.
The 17-story, 657,000 square foot tower will house the Employment Development
Department, which will be moving out of its longtime Capitol Mall offices.
Wednesday, January 21, 2026
Colliers Sacramento Office Snapshot: Q4 2025
Monday, January 05, 2026
UC Davis Medical Center California Tower
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| UC Davis Medical Center California Tower construction |
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| UC Davis Medical Center California Tower construction |
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| UC Davis Medical Center California Tower construction |
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| UC Davis Medical Center California Tower construction |
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| Construction of California Tower seen from Yolo County CR102 |
Construction of California Tower seen from Yolo County CR102
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| Sacramento Skyline seen from Yolo County CR102 |
Thursday, October 23, 2025
Colliers Sacramento Office Snapshot: Q3 2025
We have now seen two consecutive quarters of declining
vacancy and positive absorption in the Sacramento office market. Colliers International is reporting that available supply is shrinking and downtown’s
Class A vacancy rate has been held below 20% throughout 2025. This report by Colliers
also discusses the office market recalibration in downtown, including the disposal
of the 25-story state office building at 450 N Street that has been defective
for decades with the state spending approximately $60 to $100 million trying to
repair the never ending problems. Also being considered is turning three state
properties along Capitol Mall into mixed-use Sacramento State event spaces.
Wednesday, August 20, 2025
Build the Republic FC Stadium, Even Thou Tax Money Fell Through
Earlier this week a formal ground breaking at the Railyards site near North B and 7th Street which was lead be Witlon Rancheria. The $175 million soccer stadium could be ready for play by the 2027 season. The Sacramento Republic FC has declared that this time it will really get built.
Monday, August 04, 2025
Remember when... 201 N Street Is For Sale
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| Lot X Sacramento - 201 N Street |
Monday, July 21, 2025
The Elks Tower
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| The Elks Tower 921 11th Street, Sacramento |
The Elks Tower is currently for sale asking $9.9 million. It’s considered Italian Renaissance Revival high-rise at 14-stories and 110,468 square feet. It’s considered a landmark building and a historic structure and when it was completed in 1926 at a cost of $1.5 million. Standing at 242 feet tall, it is taller than the California State Capitol by five feet.
Friday, July 18, 2025
Colliers Sacramento Office Snapshot: Q2 2025
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| Colliers Sacramento Market Fundamentals |
In looking at market indicators provided by ColliersSacramento, it appears to show that office downsizing and vacancy levels have leveled off. For the first time in several years, net absorption was positive. I hardly believe all is well again after only one quarter of optimistic demand, but overall activity appears strong with demand and rents and the State of California’s four day return to office in July 2026 has also provided some hope. The Colliers report shows a fragile office market, but several of the graphs show a hint of promise of recovery in the near or distant future.
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| Colliers Sacramento Historic Comparison |
Thursday, July 17, 2025
State Capitol Annex Project
The new California Capitol Annex building will have 537,444
square feet of floor space over 8 stories at a cost of $1.3 billion and
counting. Demolition was completed of the 1950's in 2023 on the East side
of the Capitol building, which housed the Governor's office and legislator
offices. The project’s plans include a new annex and an underground visitor center
on the west side of the Capitol and an underground parking garage on the
southern side.
Capitol Annex construction looking south from L Street
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| Capitol Annex construction looking south from L Street |
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| Rendering of how Capitol Annex could look |
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| Rendering of how Capitol Annex could look |
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| Rendering of how Capitol Annex could look |
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| Rendering of how Capitol Annex could look |
Wednesday, July 16, 2025
UC Davis Medical Center’s California Tower
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| Looking north from 45th St. on the medical center campus |
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| Looking east from Stockton Blvd. and X St. |
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| Looking west at 45th and X Streets |
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| Seen from Hwy. 50 and 65th St. looking west |
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| Seen from Hwy. 50 going east |
Tuesday, July 15, 2025
Demolition of Arco Arena Parking Lot
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| Arco Park in the foreground |
Over the weekend I was driving on Truxel and Del Paso Roads and noticed what appeared to be several giant concrete/asphalt piles while looking
west towards the former Arco Arena location. My curiosity made me wonder if
they were also removing the unfinished Arco Park stadium foundation. I found no
such thing, the Arco Park foundation is still there but 2/3rd of the
parking lot that surrounds the former arena has been removed and roads for the
new Innovation Park are being built. The most southwestern part of the land has a proposal for
California Northstate University Medical Center project on 25 acers and is expected to generate
$4.04 billion in regional economic output in the next 10 years as it’s
developed.
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| 1986 proposed Arco Park |
Monday, July 14, 2025
Kaiser Permanente Medical Center Railyards Sacramento
With the ground breaking in March of this year, the 8-story Kaiser hospital in the River District appears to currently drilling piles into the ground as well as shoring up walls that are below grade. This $1.5 billion project is expected to competed in 2029.
365 Railyards Blvd. Sacramento, CA 95811Thursday, January 23, 2025
Proposed 700 J Street Hotel
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| 700 J Street, Sacramento, CA 95814 |
Last month Hume Development purchased the Capitol Bank Building at 700 J Street for $11.06 million with the intention of converting the 1917, 7-story building into 107 hotel guest rooms. The proposed project would maintain the building’s current exterior which is granite-clad but repurpose the interior spaces. The plans and costs to begin the transformation have not been shared yet, but the building will be renamed the Hotel Elanor.
Thursday, January 16, 2025
Colliers Sacramento Office Snapshot: Q4 2024
Friday, January 10, 2025
Macy’s To Close In Downtown
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| Macy's Department Store at 414 K Street Sacramento, CA |
Sacramento’s Macy’s department store downtown has been named one of 66 planed locations to close in the next three months. The K Street location was originally built in 1962 for $13 million and has been the anchor for the former mall and shopping area. CBS News Sacramento says there is significance interest in the location. The Greater Sacramento Economic Councils Berry Broome says there is a need for support from the state about economic development and policy infrastructure. The Citrus Heights Sunrise Mall Macy’s will also close as an underperforming store.
Tuesday, November 12, 2024
New Sacramento Republic’s Stadium
Wednesday, November 06, 2024
Redevelop Capitol Mall Offices Into Housing
Last year in August the State of California requested architects
and general contractors to look at three state office buildings along Capitol Mall downtown
and see if they can be converted into housing. Fast forward to today, the State of California has now declined any further request for money to move forward with the project... possibly
because the crazy cost to continue and the States budget not as healthy as it once
was. The three buildings that were under consideration were 800 and 801 Capitol
Mall and 751 N Street. The three building could have add 700 units of housing.
and it was clear the state didn’t have the funds for the adaptive reuse study. It
will be interesting to see what other opportunities The California Department of General Services has for these buildings in the near future.
Tuesday, November 05, 2024
Update: Capitol Mall Redevelopment Proposal
In April of 2021 I posted a grand vision the City of
Sacramento has for the scenic Capitol Mall promenade west of the Capital up to the
Tower Bridge. The city presently wants to spend $500,000 from Sacramento Area
Council of Governments (SACOG) to move forward with the design. As reported by
KOVR 13, the estimated cost to develop this plan could be $16 million, but if
you have been paying attention to government spending (like many have) the real
cost could be closer to $20 million or more.
Monday, October 28, 2024
Renaissance Tower Sold
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| Renaissance Tower at 801 K Street, Sacramento, CA |
Thursday, October 10, 2024
Colliers Sacramento Office Snapshot: Q3 2024
Two Downtown buildings sold at substantial discounts,
reflecting the office sector’s pricing reset. Ethan Conrad Properties acquired
770 L Street for $22.5 million ($132/SF), a 52% drop from when New York Life
bought it in 2018. Ethan Conrad also purchased 630 K Street for $10.3 million
($119/SF), a 63% drop in value since early 2020. An affiliate of Buzz Oates is
reportedly under contract to acquire 400 Capitol Mall from Manulife for $117
million, which would be a 41% decline from the 2019 purchase price. 801 K
Street, which is only 27% leased, is going up for auction on October 21 at an
$8.5 million starting bid. It sold for $79.2 million in 2016.









































