Done Deals: JLL Capital Markets led the $55 million sales efforts for 925 L Street, a Class A office property adjacent to the state Capitol in downtown Sacramento, CA

Wednesday, September 28, 2022

JLL Capital Markets led the $55 million sales efforts for 925 L Street, a Class A office property adjacent to the state Capitol in downtown Sacramento, CA

925 L Street, downtown Sacramento, CA

SAN FRANCISCO, CA, Sept, 26, 2022 – JLL Capital Markets has closed the $55.1 million sale of 925 L St., a Class A, multi-tenant office building totaling 168,844 square feet in downtown Sacramento, California.

Rob Hielscher

JLL represented the seller, a joint venture between Soma Capital Partners and Hazelview Investments, and procured the buyer, a partnership between Seagate Properties and Cottonwood Group.

925 L Street is a 13-story, LEED® Gold office building that is located adjacent to the state Capitol in the heart of Sacramento’s Government Affairs district.

The 94%-occupied tower has 4.7 years of weighted average lease term with 63% of the building leased to investment grade tenants, including the State of California.

Prior to sale, ownership had signed a 13-year lease with a large State tenant demonstrating the mission-critical location adjacent to the state Capitol.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Rob Hielscher, Senior Director Erik Hanson and Director Nick Deaver.

Erik Hanson

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

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

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