The decline of downtown Sacramento and the office market now is more clear
than ever. As reported by
KCRA 3, Sacramento's tallest tower
has sold for a steep decline, a 67% drop in value from what it was most
recently sold for. The tower was originally constructed for $120 million in 1992
and sold in 2000 for $130 million. The building was later resold again to to
Hines’ Core Fund in 2007 for $237,250,000 million. The 501,308-square-foot
was most recently sold to an all-cash buyer for $117 million.
Threaded Mode