Wednesday, October 9, 2019

JLL completes $20 million sale of landmark office building in Sacramento, CA

1130 K Street Office Building, Government Affairs District, Sacramento, CA

SAN FRANCISCO, CA  JLL announced it has closed the approximately $20 million sale of 1130 K Street, a historic landmark office building totaling 140,908 square feet in Sacramento, California.

JLL marketed the property on behalf of the seller, UC Regents, and procured the undisclosed buyer.

Cheri Pierce
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. 

Kristina Wollan
 Located within Sacramento’s vibrant Government Affairs District,1130 K Street 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.  

Erik Hanson
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. 

 Michel Seifer

 1130 K Street is positioned within a designated Qualified Opportunity Zone, established as part of the Federal Tax Reform passed in 2017.

The JLL Capital Markets team representing the seller was led by Erik Hanson, Rob Hielscher, Michel Seifer, Cheri Pierce, Kristina Wollan and Nick Deaver.

Rob Hielscher
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                         


Kristen Murphy
 JLL Director, Public Relations
Phone: +1 617 848 1572

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