6420 46th Street Apartments (South Sacramento) – 14 units sold in 3 weeks
Almost three years ago an Australian investor acquired 6420 46th Street (14 unit apartments) in South Sacramento “site unseen” for $875,000 ($62,500 per unit / $70 per square foot). The property, built in 1990, was in good condition at the time of sale, but had been managed by a local owner for the previous nine years. Due to the hands on approach, average length of tenant occupancy was around four years at the time of sale (Nov 2011) and the landlord had been able to collect rents fairly well. The new, absentee owner, tried to manage the property from afar with local family assistance and quickly ran into trouble during the first six months. It was readily apparent that a professional management company needed to be called in to right the ship.
Click here for related article by the Sacramento Business Journal.
Locally owned Armstrong Plumbing has faithfully served Sacramento commercial and residential customers for 50 years. What better way to celebrate its golden anniversary than by acquiring its very own commercial building. The new facility, at 2551 Albatross Way, is only 1/3 mile away (as the crow files) from the company’s former location, just on the other side of Capital City Freeway (off El Camino Ave).
Click here for related articles by Ben van der Meer of the Sacramento Business Journal dated 5/28/14 5/30/14 6/6/14
Brazilian Jiu-Jitsu (BJJ) has a certain following in Sacramento with approximately ten separate facilities spread throughout the area; yet North Sacramento has been under served… until now. This month, another BJJ operator will open its doors in North Natomas, but with one significant distinction. It will sport the Gracie family name.
Those familiar with BJJ will immediately recognize the value of this franchise, which started in 1914 when “a Japanese Jiu-Jitsu champion Esai Maeda migrated to Brazil, where he was instrumental in establishing a Japanese immigrant community. His efforts were aided by Gastão Gracie, a Brazilian scholar and politician of Scottish descent. As an expression of his gratitude for Gracie’s assistance, Maeda taught the Brazilian’s oldest son Carlos the essential secrets of the ancient martial arts technique. Carlos taught Maeda’s techniques to his four brothers, and in 1925 they opened the first Gracie Jiu-Jitsu academy in Brazil.”
Click here for related story by the Sacramento Business Journal.
Jackson Sports Academy expands to 200,000 sq.ft. facility @ McClellan Park
Over the past seven years, Dwayne Jackson (Jackson Sports Academy) has leased multiple Sacramento area warehouse facilities in pursuit of growing his girls club volleyball franchise. Just over a year ago, this pursuit lead Jackson to McClellan Park, where Brian Jacks (East West Commercial Real Estate Broker) represented him for the 10-year lease of almost 75,000 square feet, which primarily houses 12 volleyball courts plus doubles for other sports and entertainment venues as well. It was always Jackson’s goal to one day expand to offer basketball and indoor soccer too. McClellan Park’s free-span hangars were the perfect solution with a sea of parking right out front. Now, with the opportunity to host basketball tournaments in connection with Matt William’s Jam On It Basketball Academy, Jackson Sports Academy and East West Commercial have secured an expansion that totals almost 200,000 square feet, making it the largest basketball facility in Northern California.
Click here for a press release by the Sacramento Sports Commission and related articles by the Sacramento Business Journal and News Radio KFBK. Click here for a news story by KCRA Channel 3 and video of Nike’s Elite Youth Basketball League Tournament held April 2014 at Jackson Sports Academy.
Chuck Kim, owner of Ramen Hook @ University Mall (Davis)
Korean style ramen dishes have gained significant popularity in recent years. According to articles by food critics in both the Sacramento Bee and Sacramento News & Review, Chuck Kim has created quite the stir. Restaurant critic, Blair Anthony Robertson, writes “this isn’t their first attempt at nailing the vital elements of blue-collar, elbows-on-the-table Korean cuisine. Nor is Korean-born chef and owner Chuck Kim a rookie with the Japanese side of his menu. He owned ramen and sushi restaurants in Berkeley for several years and, now that he’s in Sacramento, he has already carved out a mini-empire in a Howe Avenue strip mall (Sushi Hook in the same center is also his).”
Click here to read story about Ramen Hook expansion to University Mall in Davis by the Sacramento Business Journal.
East West Commercial Real Estate is a boutique brokerage firm based in Orange County with over twenty agents in five states. After leaving a long commercial real estate lending career with Wells Fargo, Brian Jacks (Northern California Regional Vice President of East West Commercial) launched the company’s Sacramento office in November 2011. Considering the local economy is still weak, there has been sufficient activity to keep busy with several high profile commercial and non-profit lease transactions, such as Drewski’s Hot Rod Kitchen, Hacker Lab, Jackson Sports Academy, Fitness System, Curves, Streamline Church and Cornerstone Christian School.
East West Commercial Real Estate – Sacramento area lease transactions
On Sutterville Road in Land Park is a two story office building located right in between the Sacramento Zoo, La Bou Café and Sprouts Market. Until recently, this 40,000 square foot building had become almost entirely devoid of tenants and business activity due to the severe recession. However, it’s not the first time this particular property has succumbed to the pressures of a deteriorating local economy.
Land Park office building becomes focal point of community once again
Click here for related article in Sacramento Business Journal.
East West Commercial’s Regional Vice President, Brian Jacks, is featured in the Sacramento Business Journal for the recent lease of Hacker Lab. Mark Anderson of the Sacramento Business Journal writes,” Gina Lujan took a big leap of faith Monday, agreeing to move Hacker Lab in September from its 850-square-foot office to a 10,480-square-foot building in downtown Sacramento. Hacker Lab rents desk space and office space to startups ranging from software developers to web designers. The collective shares some equipment and some of the tenants mutually support others with equipment and expertise.” Click Here to continue reading!
An article by Sacramento Business Journal’s staff writer, Sanford Nax, suggests Bay Area investors continue to buy Sacramento commercial real estate for higher yields. The recent closing of a 13 unit apartment complex in South Sacramento by Brian Jacks, Regional Vice President of East West Commercial Real Estate, is discussed. Click here to see article.
Regional Vice President, Brian Jacks, of East West Commercial Real Estate was interviewed in by Sacramento Business Journal’s staff writer, Mark Anderson, in his exclusive article, “Galleria refinance hints at easing market.” Anderson writes, “The recent $275 million refinancing of the Westfield Galleria at Roseville not only demonstrates the mall’s economic strength — it also is a sign, some say, that the capital markets are finally beginning to free up.” Click Here to Read More.