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Sacramento Business Journal reports on East West Commercial Real Estate (Sacramento) recent activity in filling the Land Park office building.
As reported byBen van der Meer Staff Writer- Sacramento Business Journal.
“A Land Park office building has come a long way from six months ago, when it was about 80 percent vacant. And part of the reason why, said the commercial real estate broker who’s helped fill it, is because it’s not acting like an office building.
With the pending arrival of Streamline Church, the building at 1250 Sutterville Road will be 80 percent full, and the way it has filled up is more reminiscent of a retail property, said Brian Jacks of East West Commercial Real Estate.
When he began looking for tenants earlier this year for the two-story building, a gym seemed like a natural tenant because there weren’t any other workout places nearby. Fitness System, which moved this spring into 17,000 square feet of the building on two floors, was the answer.
But what happened next was unusual, Jacks said. “You have consumers who are attracted to the property, and so it’s attracting tenants who feed off the consumers,” he said. Office tenants aren’t as likely to attract other office tenants based on the amount of traffic they’re getting from customers, but retail tenants are.
While there are still office-based businesses in the building, Streamline Church’s pastors, who’d previously had services at various schools in Sacramento, saw the gym and realized being there could attract potential members to the flock, according to Jacks. Pending city of Sacramento approval for a change of use permit, Streamline will have a five-year lease to occupy 7,600 square feet on the building’s first floor.
“I wasn’t necessarily expecting this to happen,” Jacks said.
There’s still space for it to happen again. At 80 percent leased, the building has about 8,000 available square feet, in spaces ranging from 670 to 2,441 square feet, or with re-configuration, up to 3,500 square feet.”
Brian Jacks is a Sacramento commercial real estate broker (since 1996) specializing in commercial leasing and investment sale transactions for retail, office, industrial, multifamily, senior housing, mixed-use, and special purpose properties. Having spent over 20 years with Wells Fargo, he personally facilitated the underwriting, approval and funding of more than 225 commercial real estate loans totaling over $1 billion in proceeds.
Jacks is a Regional Vice President for East West Commercial Real Estate, a full service commercial real estate brokerage advisor based in Orange County. In addition to serving the Sacramento marketplace, he is also responsible for the company’s current expansion into the San Francisco Bay Area. For more information, contact:
Brian.Jacks@EastWestCommercial.com
Cell (916) 837-3456 | eFax (916) 313-3778
915 L Street, Suite C440, Sacramento, CA 95814
BRE Broker Lic. #01217349
About EAST WEST Commercial Real Estate
EAST WEST Commercial Real Estate is a full service commercial real estate brokerage advisor specializing in investment sales, commercial leasing and finance for retail, office, industrial multifamily, senior housing, self-storage, mixed-use and special purpose properties throughout California, Nevada, Arizona, Texas and Florida. The firm is headquartered in Orange County, CA.
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