CB Richard Ellis, as exclusive advisor to the State of California, is privileged to present the opportunity to acquire a 100% fee simple interest in the class A office property known as the Attorney General Building at 1300 I Street in downtown Sacramento, California(the “Property”). The Property consists of a LEED® Gold certified class A office property containing 376,866 rentable square feet over a five-level parking garage that can accommodate approximately 593 cars. The Property was constructed in 1995 and consists of a 17-story office building with a concrete-framed structure from the foundation through the sixth level, and steel frame construction above.
The property is 100% leased, of which 99.6% is leased to the State of California for a term of 20 years firm, and may be acquired separately or as part of an 11-property sale/leaseback portfolio (the “Golden State Portfolio”) comprising approximately 7.3 million square feet located in the San Francisco Bay Area, Los Angeles and Sacramento. This is a rare opportunity to acquire an excellent Class A office property that is leased on a long-term basis to a credit tenant, providing investors a stable income stream in a substantially built-out submarket with high barriers to entry.
Offering Summary
| Property Name: |
Attorney General Building |
| Address: |
1300 I Street
Sacramento, CA 95814
|
| Rentable Square Footage: |
± 376,866 |
| Number of Buildings: |
1 |
| Year Built: |
1995 |
| Number of Stories: |
17 stories |
| Parking: |
± 593 stalls (1.57 per 1,000 sf) |
| LEED Certification: |
LEED Gold |
| State of California Lease Term: |
20 years firm |
| Projected Year 1 NOI: |
$9,708,584 |