FOR SALE · to popular leisure destinations like San Francisco, Napa Valley and Lake Tahoe,...

FOR SALEThe Didion Apartments 2417 J Street Sacramento, CA

BRAND NEW, AWARD WINNING 12-unit Class A Mixed-Use Building

SALE PRICE $7,500,000

Please Call Us For Details:

TYLER BOYD

[email protected] N° 01927167

KEVIN SHEEHAN


The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.

This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.

KIDDER.COM

KEVIN SHEEHAN


EXCLUSIVELY LISTED BY

TYLER BOYD


TABLE OF CONTENTS

01 Investment Summary

02 We Are Sacramento

03 Property Summary

04 Parcel Map

05 Financial Summary

06 Market Overview

07 Sale Comparables

08 Downtown/Midtown Developments

09 Nearby Major Employers & Amenities

10 About Joan Didion

11 Company Overview

2417 J STREET OFFERING MEMORANDUM KIDDER MATHEWS 3

42417 J STREET OFFERING MEMORANDUM KIDDER MATHEWS

01INVESTMENT

SUMMARYTHE OFFERING

INVESTMENT HIGHLIGHTS

PUSHKIN’S BAKERY 20-YEAR NNN LEASE

EXCLUSIVE REPRESENTATION

K I D D E R M AT H E W S i s t h e e x c l u s i v e L i s t i n g Brokerage Firm for this Offer ing. Kevin Sheehan and Tyler Boyd, are exclusively representing the Sel ler in the sale of 2417 J Street (The Didion) .

PROPERTY OFFERING

T H E D I D I O N , n e w l y c o n s t r u c t e d i n 2 0 2 0 , i s a 12-uni t luxury lo ft -s ty le apartment complex located in Midtown Sacramento, surrounded by unl imited restaurants/retai l , employers, medical providers/hospita ls , and schools . The offer ing price is $7,500,000.

• Pushkin’s Bakery 20-Year NNN Leased Street-Le v e l Co n d o m a y a l s o b e p u rc h a s e d , i n conjucture to The Didion 12-unit apartment complex, for $1,800,000. Total offering price for both The Didion apartments and Pushkin’s Bakery condo is $9,300,000.

OFFERING REQUIREMENTS

ALL OFFERS must be submitted to Kevin Sheehan and Tyler Boyd, and must include the fol lowing terms and information:

• Purchase price; • Amount and t iming of earnest money deposit ; • Timing for feasibi l i ty contingency, post-di l igence closing period; and• Source of funds for acquisi t ion

THE OFFERING



Kidder Mathews is pleased to present The Didion mixed-use apartment building for sale in the core of Midtown Sacramento.

Award-Winning. Beautiful. Urban Luxury. Brand New 2020 Construction. Class A.

The Didion is Midtown Sacramento’s newest multi-family building. With true loft living in the vibrant core of California’s up and coming capitol city, The Didion features 12 luxury residential units within an award winning sustainable building.

Each residence has an east facing, fully private balcony that spans the length of the unit. As the sun passes over the building, residents can enjoy the sun or, shade of their connected outdoor space. There is no need to miss the delta breeze that makes Sacramento so pleasant in the evenings. The interiors of these lofts do not disappoint in their modern, open look. The kitchens offer a bold statement with all black cabinetry paired with black appliances, wrapped in black quartz counters complimented with warm wood open shelving. These clean details carry into the bathrooms of the lofts, six of which have free-standing soaking tubs.

The Didion, like its namesake iconic author, Joan Didion, inspires and excites the core of Midtown Sacramento. This is a rare opportunity for an investor to own an award-winning, brand new mixed-use apartment building!

INVESTMENT SUMMARY

PROPERTY OVERVIEW

Address 2417 J Street, Sacramento, CA

No. of Units 12

Building SF ±11,031 SF

Year Built 2020

Price $7,500,000

Price / Unit $625,000

Cap Rate 4.53%

Market Cap Rate 4.60%

PUSHKIN’S BAKERY 20-YEAR NNN LEASEFAMOUS Sacramento region restaurant/bakery owned by Danny and Olga Turner; this location will be branded as Babe’s

20-YEAR NNN LEASE beginning at $24/SF/Annually with 3% annual rent increases

NEW BAKING HQ Pushkin’s relocation all of their commercial baking to this location

4TH LOCATION This will be Pushkin’s 4th location in addition to their two other bakeries and their flagship Pushkin’s Restaurant

$96,000 NOI in Year 1

CAN BE PURCHASED in conjuncture with The Didion 12-Apartment Units

OFFERED AT 5.33% CAP RATE - $1,800,000



02WE ARE

SACRAMENTO


MIDTOWN SACRAMENTO

MIDTOWN SACRAMENTO’S ICONIC FOOD & DRINK

MIKUNI SUSHI

PHILZ COFFEE

BEAST AND BOUNTY

THE RED RABBIT KITCHEN

HOOK & LADDER

PUSHKIN’S BAKERY

TEMPLE COFFEE ROASTERS

THE PORCH

LUCCA RESTAURANT

MULVANEY’S B & L

OLD SOUL CO. COFFEE

LOCALIS

SOUTH

FEDERALIST PUBLIC HOUSE

PARAGARY’S

IRON HORSE TAVERN

ZOCOLO’S

THE JUNGLE BIRD

PAESANOS

TANK HOUSE BBQ

CANTINA ALLEY

THE RIND

CHICAGO FIRE

ALARO CRAFT BREWERY

MOXIE

TROPICS ALEHOUSE

DRUNKEN NOODLE

THE MILL

IDENTITY COFFEE

THE SNUG

J STREET

STATE OF CA CAPITOL

DOWNTOWN SACRAMENTO THE

RAILYARDS

SACRAMENTO INTERNATIONAL

AIRPORT

SITE


Sacramento is the next major up-and-coming city in California, if not in the entire West Coast.

The City of Sacramento, capital of California and the 7th largest city in the state, is home to nearly 480,000 people. While only a two-hour drive to popular leisure destinations like San Francisco, Napa Valley and Lake Tahoe, Sacramento itself is an increasingly desirable destination for food, entertainment, night life and outdoor recreation. Over the last 5 years, Sacramento’s urban core has undergone a transformation like few cities have experienced in the same time span. Currently, Sacramento is experiencing the largest millennial growth in the US.

Additionally, Sacramento has an unmatched list of amenities, universities, and landmarks that are within a 100-mile radius including Lake Tahoe, all San Francisco Bay Area cities and beaches, Reno, Yosemite National Park, UC Davis, Stanford University, UC Berkeley, CSU Sacramento, and over 50 major hospital and medical centers. With amenities like these, talent pools for employment are endless. It is an exciting time for the Sacramento region, to say the least!

WE ARE SACRAMENTO


SACRAMENTO REGIONHome to the California state capitol and rich with history and a sense of community, the Sacramento Region is also known for its central location. Located in the northcentral portion of the state, this geographic location provides convenient access through major highways and freeways to destinations like the Pacific Coast, Sierra Nevada Mountains, Yosemite National Park, Napa Valley and Lake Tahoe/Reno. The Sacramento Metropolitan Area (MSA) includes seven counties and an estimated population of over 2.2 million residents. Its metropolitan area is the fourth largest in California and the 25th largest in the United States. The Sacramento Region boasts a diversified economy with traditional and innovative economic activity that provides stability and growth to the market. The region is quickly developing into a world-class technology community, with specific competitive advantages in renewable energy, biotechnology, and agricultural and food sciences.

SACRAMENTO REGION’S COMPETITIVE ADVANTAGES

California’s Policy HQ

Home base for federal and state agencies and departments, as well as executive and legislative arms of state government.

Affordability

Most cost-effective of California’s major metro areas, from business costs to the costs of living.

Talented Workforce

A deep labor pool that spans many industries and allows employers to draw from both UC Davis and Sacramento State.

Strong Education

UC Davis/Sacramento State/Community Colleges combined, provide over 150,000 students with a diverse and “world-class” education.

Optimal Location for Logistics

Central location within the western U.S. with a strong transportation system: air, roadway, rail, and waterway.

Best Investment Value In California

Investment yield levels and cap rates higher than any other major CA city

WE ARE SACRAMENTO

SUTTER GENERAL HOSPITAL

SITE


03PROPERTY SUMMARY

BUILDING HIGHLIGHTS

BUILDING SYSTEMS

BUILDING PLANS

UNIT FLOOR PLANS & SIZES

INTERIOR FEATURES

12 LUXURY, Loft-Style Apartments

CONSTRUCTION Completed April 2020

FOUR (4) Unique Floor Plans

STUDIO APARTMENTS may easily be converted to One (1) Bedroom Units

UNIT SIZES range from 737 SF up to 1,067 SF

EACH UNIT features a Large (±200 SF) East-Facing Balcony overlooking Midtown Sacramento and J Street

PARKING AVAILABLE Onsite and in Adjacent Lot. Free Street Parking in this part of Midtown too

GREEN BUILDING: Winner of the 2019 Sustainable Building of the Year

RARE All-Electric Apartments

STREET-LEVEL Retail Space features “Babe’s”, an eatery from the famous Pushkin’s featuring their popular vegan doughnuts and desserts. Pushkin’s also has relocated all of its baking and manufacturing operations to this space. Pushkin’s has a consensus 4.5 star rating on Yelp and Google with over 2,000 reviews in total.

BUILDING HIGHLIGHTS



BUILDING SYSTEMS

No. of Buildings One, Four (4) Story Building

Structure Type IIIB Wood/Steel

Foundation 12” Mat Slab Over Helical Piles

Exterior Stucco

Roof Flat

Windows Dual Pane

MECHANICAL/ELECTRIC/PLUMBING

Electric Service SMUD

Heating Mini Splits

Cooking Energy Electric

Water Heating Individual Electrical Units per Unit

Plumbing PEX/Copper

UTILITY SUMMARY

Type Provider Paid By

Sewer City of Sacramento Landlord

Water City of Sacramento Landlord

Trash City of Sacramento Landlord

Electric SMUD Tenant

Gas PGE (Pushkin’s Bakery only) Tenant

BUILDING PLANS


BUILDING PLANS


BUILDING PLANS


BUILDING PLANS


BUILDING PLANS



UNIT FLOOR PLANS

UNITS 201,301, 401

Square Footage ±1,043

UNITS 202,302, 402

Square Footage ±830


UNIT FLOOR PLANS

UNITS 203,303, 403

Square Footage ±737

UNITS 204,304, 404

Square Footage ±1,067

SIZE 12 Residential Units, 4 per Floors 2 through 4

TRUE LOFT LIVING in a vibrant Midtown Neighborhood

SECURED resident entry with controlled access

ELEVATOR building

EXPANSIVE windows flood units with natural light

THERMAL dual pane, Low-e windows

SLIDING GLASS DOORS opens onto fully private, spacious balconies

GENEROUS 10’6” ceiling height

CLEAN LINES and open space throughout

SEALED concrete flooring

ACCOUSTICALLY engineered walls

INDIVIDUAL mini-split heating and cooling system

INTERIOR FEATURES

BLACK cabinetry

BLACK stainless steel appliances

BLACK quartz countertops

MATTE black sink

MATTE black faucet

OPEN upper shelving

KITCHEN

WHITE hex tile flooring

WHITE stacked subway tile shower

WALK IN shower with floating glass shower separation

FREE-STANDING soaking tub in corner units (201, 204, 301, 304, 401, 404)

FLOATING mid-century vanity with round vessel sink

CHROME plumbing fixtures

BATHROOM





04PARCEL MAP


PARCEL MAP

SUBJECT PROPERTY


05FINANCIAL SUMMARY


PRO FORMA YEAR 1 OPERATIONS

EXPENSES - RESIDENTIAL ONLY

Real Estate Taxes $5,500 $66,000

Insurance $417 $5,000

Utilities $500 $6,000

Property Management $- $-

Repairs & Maintenance $650 $7,800

Total Expenses $7,067 $84,800

Net Operating Income $28,333 $340,000

Offering Price of The Didion 12-Units Residential Only 4.53% Cap Rate $7,500,000

Optional: Purchase Pushkin's 20-Year NNN Leased Street- Level Condo

5.33% Cap Rate $1,800,000

Combined (12-Units & Pushkin's) Offering Price 4.68% Cap Rate $9,300,000

UNIT DESCRIPTION Rent Monthly Rent Annual Monthly/SF Rent Yearly/SF Rent

2nd Floor - Unit 201 - 1,043 SF $3,200 $38,400 $3.07 $36.84

2nd Floor - Unit 202 - 830 SF $2,500 $30,000 $3.01 $36.12

2nd Floor - Unit 203 - 737 SF $2,400 $28,800 $3.26 $39.12

2nd Floor - Unit 204 - 1,067 SF $3,100 $37,200 $2.91 $34.92

3rd Floor - Unit 301 - 1,043 SF $3,300 $39,600 $3.16 $37.92

3rd Floor - Unit 302 - 830 SF $2,600 $31,200 $3.13 $37.56

3rd Floor - Unit 303 - 737 SF $2,500 $30,000 $3.39 $40.68

3rd Floor - Unit 304 - 1,067 SF $3,200 $38,400 $3.00 $36.00

4th Floor - Unit 401 - 1,043 SF $3,400 $40,800 $3.26 $39.12

4th Floor - Unit 402 - 830 SF $2,700 $32,400 $3.25 $39.00

4th Floor - Unit 403 - 737 SF $2,600 $31,200 $3.53 $42.36

4th Floor - Unit 404 - 1,067 SF $3,300 $39,600 $3.09 $37.08

Residential Rental Income $34,800 $417,600 $3.17 $38.04

Parking $600 $7,200

Effective Gross Income $35,400 $424,800

Residential Only

PRO FORMA 5-YEAR CASH FLOW ANALYSIS

ASSUMPTIONS

3% annual rent increases on Residential

2% annual expense increases on Residential

3% annual rent increases on Pushkin's rent

RESIDENTIAL ONLY Year 1 Year 2 Year 3 Year 4 Year 5

Effective Gross Income 12- Residential Units plus Parking $424,800 $437,544 $450,670 $464,190 $478,116

Less: Total Expenses ($84,800) ($86,49) ($88,226) ($89,990) ($91,790)

Net Operating Income $340,000 $351,048 $362,444 $374,200 $386,326

Cap Rate @ $7,500,000 Offering Price 4.53% 4.68% 4.83% 4.99% 5.15%

OPTIONAL: PUSHKIN’S 20-YEAR NNN LEASED STREET-LEVEL CONDO



COMBINED (12-UNITS & PUSHKINS)





06MARKET

OVERVIEW

California's sixth-most populous metro, momentum in job growth has continued in the Golden State’s capital. Outsized recessionary losses and subsequent subpar job growth left this market behind in the recovery, but employment gains have outpaced the national average since 2012. Job growth continues to come in above the U.S. norm and has averaged about 3% since 2012.

Education and health services, as well as Leisure and Hospitality, have been among the strongest growth sectors this cycle. The Education and Health Services sector has been the largest contributor to job growth since the bottom of the downturn, and again led the way in 2019. Total employment in this sector is about 20% above its prerecession peak. Within the Professional and Business Services sector, administrative and support jobs have benefited, due to the metro’s low business costs attract firms with back-office operations.

Modest gains are expected in the long-stagnant state and local Government sector, which is by far the largest component of the metro’s workforce. Government employment constitutes 25% of all jobs in the metro, the highest share of Government employment in the country, topping even Washington, D.C. in public sector employment.

Sacramento’s relative affordability remains one of its biggest draws. Household growth has continued to surpass the rate of single-family and apartment deliveries, and forecasts show that population growth over the next five years will continue to outpace the national average. In recent years, Bay Area residents, as well as people in Los Angeles and San Diego, have shown interest in Sacramento to escape exorbitant housing costs. Bay Area residents continue to conduct the largest share of Sacramento apartment searches outside of metro residents.

Tech employment does exist in Sacramento, as Apple, Intel, Micron Technology, and Hewlett Packard Enterprises each have operations here. Tech startups have a presence as well, including some who relocated from the Bay Area. Silicon Valley is only about 100 miles away and operates in an entirely different world for attracting high-income, usually tech-oriented employment. Rents in Sacramento are less than half of San Francisco’s and tech tenants have begun to relocate here because the Bay Area’s venture capital firms, engineering schools, and entrenched culture offer better incentives, however that tide seems to be possibly changing headed into 2020. Bay Area residents continue to conduct the largest share of Sacramento apartment searches outside of metro residents.

SACRAMENTO REGIONAL ECONOMY



Multi-Family demand in Sacramento has easily outpaced the tepid amount of new construction this cycle. Fueled by job growth largely outperforming the national average, strong in-migration and home prices that have become increasingly unaffordable for many metro residents, vacancy has fallen below U.S. levels.

SUPPLY & DEMAND

Sacramento’s lack of new construction, demographic trends, and solid economy has propelled significant occupancy gains this cycle. The vacancy rate is currently 5.2% and Multi-Family vacancies have fallen well below national levels. Consistent with historical trends, Sacramento draws some of the strongest per capita migration in California, particularly from the Bay Area and southern California, which has helped to boost demand. From 2012-16, a combined 30,000 residents relocated to Sacramento from the San Jose and Los Angeles metros, respectively. Furthermore, according to Apartments.com, more than 25% of year-to-date searches for Sacramento apartments came from Bay Area residents (as of January 2020).

RENT GROWTH & AFFORDABILITY

As a result, rent growth has been robust for many years. While gains have cooled since 2016, when Sacramento led the nation in rent growth at a near double-digit pace, year-over-year gains have remained well above the national average. Elevated demand, boosted by the healthy economy, rising home prices, and Bay Area and southern California residents searching for affordability, has far outpaced the limited number of deliveries this cycle. These dynamics have created a very tight Multi-Family market and have given landlords the leverage to push rents aggressively in recent years. Rent growth averaged almost 9% from 2015-17, and reached an all-time peak of more than 10% in 2016. Annual rent growth is currently 4.0%. It is important to note that rent growth since 2015 has far outpaced income growth, and as of late, the average rent in Sacramento consumed around 25% of median household income. One of Sacramento’s main draws, affordability, may lose some of its luster if rent growth continues to exceed income gains by a large margin. However, despite the surge in recent years, Sacramento’s average rent is still just a fraction of those in the Bay Area.

In 2019, multi-family deliveries soared to a cyclical peak. More than 1,400 new units were built, marking the second consecutive year Sacramento gained at least 1,000 new apartments. The last time 1,000 or more units delivered in back-to-back years was in 2005–06. Recent notable deliveries include the 19J Apartments, which features micro 400 SF units and they are 100% leased at rents well above $3.50/SF.

SACRAMENTO REGION MULTI-FAMILY

GREATER SACRAMENTO REGION

Number of Buildings 129,000

Vacant Units 6,700

Vacancy Rate 5.2%

ABSORPTION

VACANCY

RENTAL RATE

NEW CONSTRUCTION


07SALE

COMPARABLES


EVIVA MIDTOWN1531 N Street, Sacramento, CA 95814

Date Sold 09.01.2017

Sale Price $53,000,000

Number of Units 118


Cap Rate 4.78%

Year Built 2016

01

MIDTOWN SALE COMPARABLES

LOFTS AT CHESTNUT1900 O Street, Sacramento, CA 95811


Sale Price $5,575,000 *

Number of Units 7

Price / SF $796,429

Cap Rate 5.50%

Year Built 2005

* mixed-use project with street-level retail making cap rate higher

02

16 POWERHOUSE1606 P Street, Sacramento, CA 95814


Sale Price $32,500,000 *

Number of Units 50

Price / SF $650,000

Cap Rate 5.06%

Year Built 2015

* mixed-use project with street-level retail making cap rate higher

03

Q19 APARTMENTS AT MIDTOWN1907 Q Street, Sacramento, CA 95811


Sale Price $26,800,000 *

Number of Units 68


Cap Rate 4.65%

Year Built 2018

* the property was sold with no leases completed and construction had not been completed when it was sold

04

2310 Q STREETSacramento, CA 95816



Number of Units 5


Cap Rate 4.40%

Year Built 2009

05

WINN PARK LOFTS2813 Q Street, Sacramento, CA 95816



Number of Units 9


Cap Rate 4.75%

Year Built 2019

06


08DOWNTOWN/

MIDTOWN DEVELOPMENTS

BELLEVUE19J175 apartments and 6,600 square feet of retail space

in an 11-story structure.

Completed: 2019

Press BuildingRedevelopment of Sacramento

Bee parking garage into 277 apartments and 8,000 square

feet of retail.

Completed: 2020

Q19Four-story, 68-unit apt

project with 2,000 square feet of retail space.

Completed: 2019

1430 Q75 luxury apartments above about 9,000 square feet of

retail 8.5-story building

Completed: 2019

17 Central

111 apartments above 1,608 square feet of

ground floor retail space

Expected completion by end of 2022

The CarlawA three-story project of 26

apartments and 16,000 square foot retail space

Completed: 2019

The Railyards244-acre development: 1m million SF of retail, 5m SF

of office, housing, theaters, parks, hotels, museums,

hospital, and a Major League Soccer stadium

Under Construction; full completion in 2023

DOCO & The Golden 1 Center

State of the art, new shopping center and

Sacramento Kings arena with Kimpton Hotel

Completed: 2019

Ice Blocks142 loft residences and over

100,000 SF of office and retail space

Completed: 2018

SITE



09NEARBY MAJOR

EMPLOYERS & AMENITIES

WEST SACRAMENTO

SITE

NEARBY MEDICAL CENTERS, ACADEMIC INSTITIONS, & MAJOR EMPLOYERS

SMUD HQ

CALIFORNIA STATE UNIVERSITY

CAL EXPO – STATE FAIR

BLUE DIAMOND ALMONDS HQ

UC DAVIS HOSPITAL

UC DAVIS MED CLINIC

SHRINERS HOSPITAL FOR CHILDREN

MERCY HOSPITAL

MERCY MED CENTER

MERCY IMAGING CENTER

SUTTER HOSPITAL

SUTTER MED CENTER

SUTTER IMAGING CENTER

SUTTER HEALTH PARK

KAISER MEDICAL CENTER

NEW KAISER HOSPITAL 2023

SACRAMENTO CITY COLLEGE

USC STATE CAPITOL CENTER

STATE OF CA CAPITOL BUILDING

GOLDEN 1 CENTER

DOCO

KIMPTON SAWYER HOTEL

CONVENTION CENTER

CALSTRS

CALPERS

DMV HQ

DOWNTOWN SACRAMENTO

MIDTOWN SACRAMENTO

EAST SACRAMENTO

NATOMAS

POINT WEST

LANDPARK


SACRAMENTO, CA

FOR SALE

2417 J Street

J STREET

21

ST

ST

RE

ET

R STREET

L STREET

N STREET

5T

H S

TR

EE

T

JAZZ ALLEY

SUTTER HOSPITAL

MERCY HOSPITAL

UCD HOSPITAL

KAISER MEDICAL CENTER

GOLDEN 1 CENTER

The Red Rabbit, Harlow’s, Bar West, Centro, Jungle Bird, Drunken Noodle, Thai Basil,

Chicago Fire, Icing on the Cupcake

CAPITOL BUILDING

THE CANNERY

SAFEWAY

SUTTER FORT

MCKINLEY PARK

JAMES MARSHALL PARK

ALBERT WINN PARK

SOUTHSIDE PARK

CAPITOL PARK

THE MILL AT BROADWAY

SUTTER HEALTH

PARK

DOCO

CALPERS

CALSTERS

CONVENTION CENTER

ST. FRANCIS CHURCH

The Old Spaghetti Factory

LUCCA

Mikuni, PF Chang’s

MEMORIAL AUDITORIUM

SHERATON GRAND HOTEL

CESAR CHAVEZ PLAZA

THE CITIZEN HOTEL

THE BANK

KIMPTON SAWYER HOTEL

OLD SACRAMENTO

THE RAILYARDS

KAISER HOSPITAL (2023)

Puur Chocolate, RoShamBeaux,

Wild Heart Beauty, Pushkin’s Bakery

Beach Hut Deli, Rick’s Dessert Diner,

Tank House BBQ, LowBrau

SUBJECT PROPERTY

THE DOCKS PROJECT

R STREET CORRIDOR

SACRA

MEN

TO R

IVE

R



10ABOUT JOAN

DIDION

Why is this building named “The Didion”? We asked the developer, Julie Young of Urban Elements, and here is her response:

“The project is named The Didion as a thank you for the beautiful work of Joan Didion, a Sacramento native and icon. My first experience reading Joan Didion was, “The Year of Magical Thinking”, a book that looks at the difficult process of grieving through a vulnerable and empathetic lens. Joan Didion gives a voice to both the daily and once-in-a-lifetime moments. I learned something about myself reading her work, something powerful enough to share with others but, more importantly, something to comfort others when my own words failed.

In addition, in her book “South and West”, her observations, although collected many years ago, are as relevant today as they were then, perhaps more so due our country’s current divide. When Joan Didion writes of the south, you feel the humidity. She constructs language in such a way that you hear, see, feel, touch and taste the experience of the writer.

Joan Didion deserves a thank you, and because I am unable to write as well as she or, personally say “thank you” to her, we built something lasting and beautiful instead.”

Joan Didion is the award-winning author of these famous novels, “Play It As It Lays”, “Slouching Towards Bethlehem” “The White Album” and “The Year of Magical Thinking”. In 2013, Ms. Didion was the recipient of a National Medal of Arts, presented by President Barack Obama.

JOAN DIDION SACRAMENTO’S ICONIC AUTHOR



2417 J STREET



11COMPANY

OVERVIEW

KIDDER MATHEWS OVERVIEWWe know the West Coast. In fact, we’re its largest independent commercial real estate firm. Our team boasts 800 local market specialists and top-producing professionals—serving out of 22 offices across five states. The expertise of each local office is reinforced by the relationships, intelligence, and experience of our entire firm.

WE DON’T JUST KNOW THE MARKET, WE DRIVE IT

It’s no secret that having a team deeply embedded in your market gives you the edge. Our professionals deliver insights that go beyond data and identify unexpected avenues for growth. This ensures our clients are armed to capitalize on market trends in the most competitive real estate markets in the West.

We offer a complete range of brokerage, appraisal, property management, consulting, project and construction management, and debt and equity finance services for all property types, giving our clients the competitive edge they need.

SOUTH SEATTLE

PORTLAND

SACRAMENTO

OLYMPIA TACOMA

SEATTLE

BELLEVUE

RENO

SAN FRANCISCO

SILICON VALLEYREDWOOD SHORES

ROSEVILLE

PHOENIX

SAN DIEGO

PASADENA/TRI-CITIES

EL SEGUNDO

INLAND EMPIRE

ORANGE COUNTY

CARLSBAD

DOWNTOWN LA

WEST LA

PLEASANTON

AWARD-WINNING SERVICES

Largest Commercial RE Firm 7yrs

Top Leasing Firm in Sacramento 3yrs

Top Sales Firms 2yrs

Fastest Growing Companies 6yrs

NREI Top Brokers 7yrs

Bay Area News Group Top Work Places 7yrs

COMMERCIAL BROKERAGE

$9B ANNUAL TRANSACTION VOLUME

400+ NO. OF BROKERS

VALUATION ADVISORY

1,600+ ASSIGNMENTS ANNUALLY

36/23 TOTAL NO. OF APPRAISERS / MAIS

PROPERTY MANAGEMENT

60M+ SF UNDER MANAGEMENT

2417 J STREET OFFERING MEMORANDUM 45

KIDDER.COMKIDDER.COM

EXCLUSIVELY REPRESENTED BY

KEVIN SHEEHAN


TYLER BOYD


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