1303 J Street
The building is a well-maintained and institutionally owned Class A/B property located in the heart of downtown Sacramento. Through industry relationships, Ownership made an off-market attempt to purchase the property knowing that the seller was considering trading the asset in the near term. Although the seller elected to use a full marketing process, the previous attempts to buy the property off-market put Ownership at a competitive advantage to other buyers, eventually resulting in a successful transaction.
Ownership implemented a façade and lobby refresh and managed near-term tenant turnover through deep local broker and tenant relationships. 2nd generation office space was converted to open ceiling creative space and rents have increased 25% since acquisition.
1303 J Street, Sacramento CA
73,000 Square Feet