• Sacramento

Sacramento Boom Town: 10 Quick Updates on 10 Cool Projects

By Travis Zeiler
Research Analyst
Sacramento

   16 Powerhouse, located at 1606 P Street

When you live, eat, work and breathe here, it’s clear that Downtown Sacramento is emerging as a vibrant and viable urban live, work and enjoy alternative in Northern California. We are currently experiencing an unprecedented real estate boom and many parts of the bustling downtown and surrounding areas are literally teeming with activity. Below are ten of the more interesting projects or developments within our trade area that have been or will be part of the new landscape. Enjoy!

(1)   16 Powerhouse  (1606 P Street)
It’s totally green, luxurious and sold out. This 6 story / 50 unit building is so in demand there is a long waiting list to secure one of these amazing apartment homes. Rent  range $2,813-$3,537/mo, avg. SF per unit 813 (1 br) to 1,191 (2br).

“Helping to prove that Sacramento is one of the best-performing multi-family residential markets in the country, 16 Powerhouse is fully-occupied and one-bedroom units currently rent for $3.46 per square foot – one of the highest in the Sacramento Region…………… Love those floors! ”

 

(2)   Amazon Distribution Center  (Powerline Rd @ Elkhorn Blvd)
This industrial, 855k SF facility is fully pre -leased and is delivering Sept/Oct 2017.

“The massive new Amazon distribution center in North Sacramento is nearing delivery later this year, and has already hired 1,500 full-time employees.”

 

(3)   Delta Shores (I-5 @ Beach Lake Road)
This large, sprawling shopping center is 1.3 MSF and is 91% leased. Stores open already include Dick’s Sporting Goods, Party City, & PetSmart. Stores opening soon include Wal-Mart, Hobby Lobby, & Ross Dress for Less. Fast food now open includes In-N-Out Burger, Panera Bread and Starbucks.

“The all-new Delta Shores power center will weigh in at over 1 million square feet of retail space, serving South Sacramento in a part of town that was formerly undeveloped land along Interstate 5.”

 

(4)   The Kimpton Sawyer Hotel/DOCO (560 J Street)
A key addition in the modernization of Downtown Sacto. It’s a futuristic, majestic and entirely cool hotel featuring retail/office/ hospitality in  16 stories total with 53k SF of retail space on floors 1-2.

There are 250 sumptuous hotel rooms on floors 5-11, and 45 luxury condos on floors 12-16. The Sawyer Hotel opens in October, and retailers Urban Outfitters, Punch Bowl Social, & Echo & Rig are under construction with late fall target opening dates. The entire Downtown Commons (Known as DOCO)  lifestyle center is a total of 655k SF, and will be completed by early 2018. Retail tenant Sauced BBQ & Spirits opened at the east end of DOCO in January 2017 and reported record sales during March Madness at the Golden 1 Center.

Additional retail tenants coming to DOCO soon include Yard House, Century Theatres, and Getta Clue Store.  Cushman & Wakefield’s David Scanlon and Kazuko Morgan are spearheading all retail/restaurant leasing for DOCO.

“The long-anticipated Sawyer Hotel at DOCO will open on October 10th, 2017. Can’t wait to check out those rooms!. It will begin a new chapter in hospitality for Sacramento !”

 

(5)   The Ice Blocks (1610 R Street)
A mixed-use development with 55,000 sq ft of retail, 100,000 sq ft of office and 142 residential units. Cult favorite Philz Coffee opened in July to lines spanning 2 blocks. New tenants in Blocks Two and Three are under construction, including two new restaurant concepts from the team behind LowBrau. The remainder of the Ice Blocks is expected to deliver in March 2018. Additional tenants confirmed include West Elm, Button Up Boutique and Pressed Juicery.  The Ice Blocks recently received nice recent press coverage in the Sacramento Bee. Cushman & Wakefield’s David Scanlon and Stevie Greiner are heading retail leasing efforts.

“Construction at The Ice Blocks continues and is beginning to take shape. Philz Coffee opened in July with a huge turnout.”

 

(6)   Howe Bout Arden (2100 Arden Way)
A retail/shopping center, approximately 135k SF, 22% vacant. Retail tenants include Homegoods, Nordstrom Rack, The Container Store and an all-new Century Theaters Cineplex. A second dine-in movie theater was recently announced and will be coming to HBA in 2018, along with many other retail tenants.

 

“Howe Bout Arden is undergoing redevelopment, with long-time tenant Nordstrom Rack now occupying a newly remodeled freestanding building that is now open. Other stores that recently opened at HBA include The Container Store and Century Theaters, and both have received rave reviews from customers.”

 

 

(7)   Kaiser Permanente (501 J Street)
This is a top notch, Class A medical/office building, featuring 6 stories and 198k SF total.  Owned by Kaiser Permanente, it is currently under renovation.

“Kaiser Permanente’s new downtown office is expected to deliver in Q4-2017. Kaiser anticipates that this location will serve over 1,000 patients each day, and will create 730 jobs at the new site.”

 

(8)   The Railyards (North 7th Street)
A planned urban infill project to develop into 2.4MSF total of retail, office, and MFR space (the site is 200 acres total). Also proposed is a new 50k seat soccer stadium which would be the future home of the Sacramento Republic team.

“The Railyards  ultimate plan would reduce Sacramento’s carbon footprint significantly with urban infill, making the central city friendlier for pedestrians and bicyclists as well as the earth.”

 

(9)   The Cannery (1601-1675 Alhambra Blvd.)
300k SF of Class B creative and medical office space in East Sacramento. With 8.1% vacancy, current tenants include Support Pay, UCD Telemedicine and NORR Architects; and coming soon…. Urban Hive.  Cushman & Wakefield’s Ron Thomas, Kevin Goldthwaite and Mark Tabak are  handling all leasing.

“This is one of the coolest office environments in downtown; ideal for creative companies, startups or entrepreneurs hungry for innovation. Urban Hive is opening in Q4-2017 . “

 

(10) Wells Fargo Center Cushman & Wakefield Sacramento HQ (400 Capitol Mall)
An iconic part of the Sacramento skyline, the landmark Class A office building is the tallest between San Francisco and Portland. First delivered in 1992, Wells Fargo Center rises 423 feet above Capitol Mall in the Sacramento central business district, topping off at 30 stories. Cushman & Wakefield’s Ron Thomas, Kevin Partington and Sean Mullen are  leading leasing efforts here.

“Time flies!  We’ve been in our new suite on the 18th floor for over a year and we’re loving it.  How ’bout that awesome helipad on top? See more photos of our offices here .”

 

Travis Zeiler is a Research Analyst working out of Cushman & Wakefield’s Sacramento office, which overlooks the entire Downtown Central Business District. He is responsible for Sacramento market research and economic analysis as well as support for presentations, reports and periodicals. A Bay Area transplant, Travis lives in Midtown Sacramento and earned his Bachelor of Arts in Marketing from UC Santa Cruz. He is a regular guest blogger for blog.cushwake.com. Check out Travis’ story on DOCO here.

 

 

 

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