17
2409 L STREET, STE 200 SACRAMENTO, CA 95816
916.573.3300 TURTONCOM.COM
© 2019 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.
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AARON MARCHANDVICE PRESIDENT - LIC. 01711650916.573.3305A [email protected]
THE PRESS BUILDING IS ONE OF THE CITY’S LARGEST AND NEWEST DEVELOPMENTS IN A RAPIDLY
20,000+±8,600 277LIVING UNITSRETAIL SF AVAILABLE DAILY PASSERS-BY
THE OPPORTUNITY
M I D T O W N ’ S C O O L E S T B U I L D I N G A N D B E S T L O C A T I O N
Turton Commercial is pleased to offer for lease
new construction retail located in a highly-desir-
able area of Midtown with rare corner restaurant
and inline retail options. The Press at Midtown
Quarter is Sacramento’s largest mixed-use resi-
dential project in the last decade.
Located beneath 277 new residential units, these
retail units offer, if not some of the most high-profile
retail opportunities in the entire urban core. Situated
on the block of 21st Street between Q and R Streets,
with 21st being a high traffic one-way street into the
grid, the corner location benefits from visibility from
over 20,000 cars per day. As with cars traveling up Q
Street and 21st street, the building is located on the
“driver’s side” of the street thus creating maximum
exposure for any user.
S e c t i o n O n e : T he P r op e r t y
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The area is also heavily trafficked by pedestrians.
The main pedestrian attraction around the corner
at 19th and Q is the Truitt “Bark Park”, which
has established itself as the go-to “pet” social
epicenter in midtown. Furthermore, the building
is situated two blocks from a Safeway-anchored
shopping center and the newly developed Ice
Blocks, which is a 200,000-square foot live-work-
play project full of new to market retail, office
tenants with 146 new residential units.
Additionally, the retail users at The Press at Mid-
town Quarter will benefit greatly from the massive
influx of residential units within a three blocks ra-
dius of the project. To date, nearly 400 high-end
residential units have been completed in the last
three years. The notable projects include 20 PQR
(36 townhomes which has now sold out) Power-
house 16 (50 units), Eviva (118 units), and the Ice
House (146 units).
The evolution of this area of midtown will be ex-
pedited by the completion of over 500 new units
within the next two years, including the subject
property (277 units to be completed in Q1 2020),
15Q (73 units to be completed in Q4 2019), and
17S (160 units to be completed in Q1 2021).
With approximately +/-8,600sf rentable square
feet available, the space will be delivered to a
tenant in “cold shell” condition with electrical and
HVAC stubbed to the interior walls. Currently the
retail opportunities are divided into three suites
ranging in sizes from +/-2,641sf, +/-2,807sf, and
+/-3,636sf.
REVITALIZING AREA
Address: 1714 21st Street, Sacramento, Ca 95811
APN: 007-0316-001-0000 + 007-0316-002-0000
Parcel Size: 25,600 SF
Zoning: C4
Building Size: 440,000 SF
Retail 1: +/-3,636 SF
Retail 2: +/-2,641 SF
Retail 3: +/-2,807 SF
Parking: Onsite and Street parking available
Year Built: 2019/2020
PROPERTY DETAILS
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S e c t i o n O n e : T he P r op e r t y
We imagine the retail tenants here thriving and potentially looking like these cool spaces nearby in the city.
how
we
see it
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S e c t i o n O n e : T he P r op e r t y
1BLOCK FROM
SAFEWAY
4BLOCKS FROM
RT’S MAIN TRANSIT HUB
4BLOCKS FROM
FREMONT PARK
3BLOCKS FROM
A LIGHT RAIL STOP
5BLOCKS FROM
THE HANDLE DISTRICT
1BLOCK FROM WELLS FARGO
8BLOCKS FROM
THE STATE CAPITOL
12BLOCKS FROM
THE CONVENTION CENTER
7BLOCKS FROM THE
CENTER OF MIDTOWN
2BLOCKS FROM THE
R STREET CORRIDOR
1BLOCK FROM
TRUITT BARK PARK
2BLOCKS FROM ICE BLOCKS
11BLOCKS FROM THE
URBAN MEDICAL CORRIDOR
11BLOCKS FROM THE
CENTRAL BUSINESS DISTRICT
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BUILDING LOCATION
IN THE MIDDLE OF A HIGHLY-DESIREABLE NEIGHBORHOOD
The Property has one of, if not, the finest locations in the highly-desirable midtown submarket of Sacramento and is within easy walking distance of virtually every
significant landmark in Sacramento’s urban core:
8+ 28,2274BLOCKS TO LIGHT RAIL RESIDENTS IN 1-MILE RADIUSNEARBY DEVELOPMENTS
12BLOCKS FROM
THE K STREET CORRIDOR
Sect ion Two: The Locat ion
Truitt Bark Park
Eviva Midtown
20 PQR
The Press Building
Cal. Brownstones
19J Dev.
1915 S DEV.
Ice Blocks
20 PQR17 & S Dev.
Q19
Proposed Dev.
1430 Q Dev.
DGS Tower Dev.
700,0009 270,000SF OF NEW OFFICE/RETAILMAJOR NEW DEVELOPMENTS SF OF NEW RESIDENTIAL
NEARBY DEVELOPMENTS
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Sect ion Two: The Locat ion
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Midtown to the east; Downtown to the west. Tenants at The Press Building will enjoy being centeredin the urban core with easy access to every corner of the city.
POPULAR RESTAURANTS NEAR THE PRESS BUILDING (NOT ALL ARE MENTIONED HERE):
58 Degrees & Holding Co.
Ace of Spades
Aioli Bodega Espanola
Amaro Italian Bistro & Bar
Art of Toys
Azul Mexican
Badlands
Bar West
Bento Box
BevMo
Block Butcher Bar
Bottle & Barlow
Broderick Midtown
Buckhorn Grill
Burgers and Brew
Cafe Bernardo
Café Bernardo’s
Cantina Alley
Centro Cocina Mexicana
Chipotle
Cornerstone
Crepeville
Der Biergarten
Dos Coyotes
Eatuscany Cafe
Elixir Bar & Grill
Faces
Federalist Public House
Fieldwork Brewing Co.
FishFace Poke Bar
Fit Eats
Fox & Goose Public House
Ginger Elizabeth Chocolates
Grange
Highwater
Hot Italian
I Love Teriyaki
Identity Coffee
Iron Horse Tavern
Jack’s Urban Eats
Karma Brew
Kru Japanese
Bombay Bar & Grill
Kupros Craft House
Lowbrau
Lucca
Luna’s Cafe & Juice Bar
Mango’s/Burgertown
Make Fish
Mercantile Saloon
Metro Kitchen & Drinkery
Mikuni Sushi
Monkey Bar
Mulvaney’s B&L
N Street Cafe
Nekter
Nido
Nishiki Sushi
Old Soul Coffee
Pachamama Coffee Coop
Paesano’s
Paragary’s
Pizzeria Urbano
Portofino’s
Press Bistro
Pronto Pizza
Pushkin’s Bakery
Q Street Bar & Grill
R15
Red Rabbit
Rick’s Dessert Diner
Roxie Deli and Barbecue
Saddle Rock
Sakamoto
See’s Candies
Shady Lady
Shoki Ramen House
Skool
Squeeze Inn
Sun & Soil Juice
Tank House BBQ
Tapa the World
Tea Cup Cafe
Temple Coffee
Thai Basil
Thai Canteen
The Bread Store
The Golden Bear
The Mill Coffee House
The Porch
The Press
The Rind
The Waterboy
Tres Hermanas
Uncle Vito’s Pizza
University of Beer
Waffle Square Country Kitchen
Yogurt a GoGo
Zelda’s Pizza
Zocalo
Southside Park
State Capitol
Roosevelt Park
Sutter’s Fort
Winn Park
Truitt Bark ParkFremont Park
16th
P
R
21st
L
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The Press Building
Golden 1 Center
NEARBY AMENITIES
Developments=
Sect ion Two: The Locat ion
SACRAMENTO
CALIFORNIA’S FASTEST-GROWING METROPOLITAN AREA
The word “renaissance” is often overused and
inappropriate to describe economic improvement
in the urban core of cities throughout the Unit-
ed States. However, that’s not the case for Sac-
ramento. Since the formal approval to construct
Golden 1 Center, the floodgates have figuratively
opened to the urban migration of retailers, busi-
nesses and residents. Huge chunks of the urban
core have been revamped, with more redevelop-
ment currently underway. New projects surround-
ing the property, namely the Downtown Commons
and The Railyards, are contributing to this an
215+15.3 MILLION 71,335DAYTIME EMPLOYEESANNUAL REGIONAL VISITORS BARS / RESTAURANTS
exciting time for the city. In California, nowhere
is the word “renaissance” more applicable and
demonstrable than in Downtown Sacramento, and
730 I Street is situated in the middle of every-
thing.
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THERE’S A REASON EVERYONE IS COMING HERE.
Sect ion Three : The C i t y
Sacramento is the Capitol of California, the sixth
largest economy in the world. While perhaps not
considered as sexy as many of the tourism-based
cities in California such as San Francisco, Los An-
geles and San Diego, being the hub of California’s
governmental structure provides an incredible
amount of economic stability throughout the re-
gion. In addition, Sacramento is being increasing-
ly recognized as an outdoor enthusiast’s dream
city with its remarkably central location to Lake
Tahoe, the Sierra’s, Yosemite and the Coast.
In a recent study completed by WalletHub for Na-
tional Nutrition Month, Sacramento was ranked
the 5th healthiest city in the United States among
100 large cities (ranking higher than the likes of
Denver, Colorado Springs, San Francisco, Port-
land, Austin, San Antonio and Seattle). Forbes
magazine ranked Sacramento as the 10th health-
iest city in the United States versus all cities. A
big part of this recognition stems from the cities’
proximity to the American River. Hiking trails and
white-water rafting abound along the American
River as well as one of Sacramento’s crown jew-
els... the 32 mile American River Bike Trail which
runs entirely along the river from Beal’s State
Park to Discovery Park where it conjoins with the
Sacramento River to Old Sacramento on the river-
front (only 13 blocks from the Subject Property).
Located only 85 miles east of San Francisco, Sac-
ramento enjoys easy, unfettered access to all of
the entertainment amenities provided by the ro-
bust Bay Area as well as the entire Northern Cali-
fornia region, for about 60% of the cost.
Blessed with a consistent climate featuring over
300 days of sun on average throughout the year,
the region is located at the Northern portion the
Central Valley which produces more agriculture
than any other valley in the United States. This
unique combination of soil, water and tempera-
ture in coordination with Sacramento’s solid,
highly reliable economic base to create the per-
fect combination of variables to truly make Sacra-
mento the “farm-to-fork” capitol of the world. No
one on earth, as a whole, eats fresher food than
Sacramentans. And if you want to select the per-
fect wine to compliment your meal you are a mere
60 minutes from arguably the finest wine region
in the world. On any given day it is actually faster
(not closer) to get to downtown Napa from down-
town Sacramento than downtown San Francisco.
Ten minutes from downtown Sacramento is the
University of California at Davis, acknowledged
as one of, if not, the finest agricultural institu-
tions in America and home to the Mondavi Center,
a $10M performance art center donated by the
Mondavi Family who also maintain a close rela-
tionship with Davis’ renown Vinology department.
In addition to the State Government, Sacramento
features a number of larger locally based employ-
ers including Vision Service Plan, Blue Diamond
Almond Growers (located on 16th Street), Raley’s,
Sutter Health, Dignity Health, Kaiser Permanente,
UC Davis Medical Center, McClatchy as well as
California Public Employees Retirement System
and California State Teachers Employee Retire-
ment System - two of the largest pension funds in
the world. Regional employers with large presence
in Sacramento include AT & T, Wells Fargo, Intel,
Apple, AAA and Tesla.
Employment growth in Sacramento has large-
ly outpaced the national average since 2012.
Professional and business services, as well as
leisure and hospitality, have been among the
strongest growth sectors in this cycle, but edu-
cation and health services, sector has been the
largest contributor to job growth since the bottom
of the economic downturn. Total employment in
this sector is nearly 25% above its prerecession
peak. Local hospitals have noted that, as of May
2017, thousands of medical positions remain un-
filled due to the lack of skilled talent in the metro.
Within the professional and business services
sector, administrative and support jobs have ben-
efitted, because the metro’s low business costs
attract firms with back-office operations. Con-
tinued growth is expected in the state and local
government sectors. Sacramento has the highest
share of public sector employment in the country
(approximately 25%) ahead of even that of Wash-
ington D.C.
A CLOSER LOOK AT THE CITY
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Sect ion Three : The C i t y
Sacramento is the country’s farm to fork capital, has world class coffee, and sports a huge river parkway perfect for
running, riding, and hiking. The city is a short drive from Lake Tahoe, the Napa Valley, and San Francisco.
THIS
CITY
ROCKS
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Sect ion Three : The C i t y
#1 Happiest workers in midsized cities
#2 Top 10 most fun, affordable U.S. cities
#4 U.S metro clean tech index
#4 Best cities for nerds
#5 Hot startup cities
#10 Best cities for women in the workforce
#10 Best cities for coffee snobs
#10 Lease Stressed-out cities
#14 America’s coolest cities
#16 Best cities for millennials
SACRAMENTO’S CITY RANKINGS
SACRAMENTO REGION ANNUAL SALARY BREAKDOWN:
Over $100,000 - 17%$75,000 - $100,000 - 11%
$60,000 - $75,000 - 10%$40,000 - $60,000 - 18%
$30,000 - $40,000 - 12%Under $30,000 - 32%
LARGEST EMPLOYMENT INDUSTRIES WITHIN 1 MILE RADIUS OF THE PROPERTY:
ANNUAL CONSUMER SPENDING WITHIN A ONE MILE RADIUS OF THE PROPERTY:
Entertainment
Eateries/alc.
Transport
Health & ed.
Household
20 40 60 80*Numbers in millions0
*Based on data from 2012
NUMBER OF EMPLOYEESWITHIN VARYING RADIUS OF THE PROPERTY:
1 MILE 2 3
97,075
131,818
182,867
48% Public Admin. & Sales
17% Science & Tech.
4% Information
5% Healthcare & Social
7% Hospitality & Food
19% Other
SACRAMENTO OFFICE VACANCY:
2016 2017 2018 20199%
10%
11%
12%
13%
14%
WALKSCORE:
93BIKE
SCORE:
98TRANSITSCORE:
53
SACRAMENTO DATA BITESSacramento’s relative affordability versus amenities remains one of its biggest draws. Population growth is expected
to average about 1% (20,000 annually for the region) over the next five years and is expected to outpace the national
average. Household growth continues to far outpace the rate of single-family and apartment deliveries. In recent years,
Bay Area residents have flocked to Sacramento to escape exorbitant housing costs.
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Sect ion Three : The C i t y
FLOOR PLANS
Sect ion Three : The C i t y
2 2
The information contained herein was obtained from sources believed reliable; however, DeBartolo Development makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is subject to errors, omissions, change of price or conditions prior to sale, or lease, or withdrawal without notice. Site plan not to scale.
Reginald Wallace, Assistant Development ManagerO: 813.386.1836 C: 404.663.2305rwallace@debartolodevelopment.comwww.debartolodevelopment.com
− Space 1: 3,336 SF corner space with18’ ceiling height and grease trap
− Space 2: 2,177 SF with 11’ ceiling height
− Space 3: 2,567 SF corner space with 11’ ceiling height
RETAIL AVAILABILITY
PRESS BUILDINGSACRAMENTO, CALIFORNIA
C O N TA C T
HIGH-PROFILE AND CHARMING RETAIL SPACES FACING 21st STREET
��
21s t STREE T
Retail Bay 13,636 SF This space is capable of being a restaurant!
Sect ion Three : The C i t y
2 4
Retail Bay 32,807 SF
Retail Bay 22,641 SF
21s t STREE T21s t STREE T
2 6
2 8
2409 L STREET, STE 200 SACRAMENTO, CA 95816
916.573.3300 TURTONCOM.COM
© 2019 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.
AARON MARCHANDVICE PRESIDENT - LIC. 01711650916.573.3305A [email protected]
