For Sale - 301 Capitol Mall

The Sacramento Business Journal is reporting that the CalPERS owned block at 301 Capitol Mall is for sale. No price for the full city block has been given but Turton Commercial Real Estate says they have received more than a dozen inquires and confident offers will follow soon. CalPERS has owned the land since 2007 when they bought out John Saca during the unsuccessful development of two 53-story towers.

It's being marketed as the single best development site in the central city even though nothing has been built there after several high-rise office tower proposals. Turton Commercial believes “any project on the site would need to be at least 500,000 to 600,000 square feet”.

 Here's a link to the broker's flyer. https://files.constantcontact.com/17...c.pdf?rdr=true

Colliers Sacramento Office Snapshot: Q2 2022

Sacramento Office Development Pipeline

After two years of occupancy losses, Sacramento posted it's first positive quarter since Q2 2020. It is possible we could see it turn negative again in the second half of this year as the State of California consolidated into new construction and it's overall plans to reduce office footprints by 20 percent (2.8 MSF) in the next few years. According to the Colliers report, the future of work will create uncertainty for the office marker moving forward despite it's current shift in the right direction locally. Read more here: Colliers Sacramento Office Snapshot: Q1 2022