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”.
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