new, high-end retail in sacramento’s thriving urban core · 2020. 3. 18. · revitalizing area...
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Bel VueNE W, HIGH-END RE TA IL IN S ACR A MEN T O ’ S T HRI V ING URB A N CORE
The
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 ARONMARCHAND@TURTONCOM.COM
Bel Vue
THE BEL VUE IS ONE OF THE CITY’S NEWEST DEVELOPMENTS IN A RAPIDLY REVITALIZING AREA
26,000+±4,508 22LIVING UNITSRETAIL SF AVAILABLE DAILY PASSERS-BY
THE OPPORTUNITY
K S T R E E T ’ S N E W E S T R E D E V E L O P M E N T A N D B E S T L O C A T I O N
Turton Commercial Real Estate is pleased to pres-
ent to the market for lease two amazing retail op-
portunities within the Bel Vue located in the heart
of Downtown Sacramento.
The Bel Vue is one of Downtown Sacramento’s
most prized historical buildings, located one block
from the Golden1 Center and DOCO. The property
is a three story 22-unit multifamily property orig-
inally built in 1909. The building is undergoing a
S e c t i o n O n e : T he P r op e r t y
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full renovation including new residential afford-
able housing units upstairs, a new ground floor
retail experience with new retail storefronts, new
updated lobby, common areas, and entirely new
mechanical infrastructure throughout the building.
The ground floor offers two incredible retail op-
portunities with one unit approximately +/-1,969
square feet and the second unit approximately
+/-2,608 square feet both in shell condition (both
units can be combined for a combined square
footage of +/-4,508 square feet).
To the north and south surrounding the Bel Vue
the 800 Block project has another 150 units
planned with another 12,800sf of new retail on
each side of K and L Streets. The Bel Vue retail
opportunities allow any user a unique “new” ex-
perience in a very cool historical building in the
middle of K Street and Capitol Mall.
Bel Vue
1 OR 2RETAIL UNITS
Address: 1117-1123 8th Street (aka The Bel Vue)
Type: Retail / office under residential
Retail Vacancies: ±4,509 SF
Suite A: ±2,608 RSF
Suite B: ±1,969 SF
Rent: $2.25 / SF
Lease Type: NNN
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 Bel Vue
Units can be combined
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 Bel Vue
1BLOCK FROM THEGOLDEN 1 CENTER
2BLOCKS FROM
THE STATE CAPITOL
5BLOCKS FROM THE
CONVENTION CENTER
0BLOCKS FROM THE
K STREET CORRIDOR
5BLOCKS FROM
ROOSEVELT PARK
1BLOCK FROM
DOWNTOWN COMMONS
7BLOCKS FROM THE
OLD SAC WATERFRONT
9BLOCKS FROM
WEST SACRAMENTO
6BLOCKS FROM THE
RAILYARDS DEVELOPMENT
1BLOCK FROM
CAPITOL MALL
0BLOCKS FROM
A LIGHT RAIL STOP
1BLOCK FROM
CESAR CHAVEZ PARK
6BLOCKS FROM THE
AMTRAK TRANSIT HUB
8BLOCKS FROM THE
MIDTOWN GRID
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BUILDING LOCATION
IN THE MIDDLE OF A RAPIDLY-REDEVELOPING CORRIDOR
The Bel Vue has one of, if not, the finest locations in the highly-desirable K Street submarket of Sacramento and is within easy walking distance of virtually every
significant landmark in Sacramento’s urban core:
9+ 28,2270BLOCKS TO LIGHT RAIL RESIDENTS IN 1-MILE RADIUSNEARBY DEVELOPMENTS
6BLOCKS FROM THE
R STREET CORRIDOR
Sect ion Two: The Locat ion Bel Vue
The Bel Vue
Railyards Dev.
Courthouse Dev.
Sect ion Two: The Locat ion
Hotel Berry Dev.
801 L Dev.
800 K Dev.
K Street CorridorCapitol Mall
Old Sac Waterfront
Golden 1 Center
Downtown Commons
Sawyer Kimpton
The Bank
Cesar Chavez Park
Amtrak Hub
The Hardin / 700 Block
Bel Vue
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The Bel Vue
The Bel Vue
The Bel Vue
800 K Dev.
800 K Dev.
801 L Dev.
801 L Dev.
Southside Park
State Capitol
Roosevelt Park
10th
I
L
The Bel Vue
Golden 1 Center
Developments=
Cesar Chavez Park
Fremont Park
Truitt Bark Park
16th
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Midtown to the east; Downtown to the west. Tenants at The Bel Vue will enjoy being centeredin the urban core with easy access to every corner of the city.
POPULAR RESTAURANTS NEAR THE BEL VUE (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
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NEARBY AMENITIES
Sect ion Two: The Locat ion Bel Vue
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
The Bel Vue 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 Bel Vue
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 Bel Vue
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 Bel Vue
#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 2018
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.
2 0
Sect ion Three : The C i t y Bel Vue
FLOOR PLANS
Sect ion Four : F l oo r P lans
2 2
HIGH-PROFILE AND CHARMING RETAIL SPACES FACING 8th STREET
8th S
TREE
T
4,508 SFSuite A: ±2,608 RSF
By:
City of Sacramento Plan ReviewAPPROVED
Jay Gri�n on Oct 31, 2017
LIFE SAFETY
This set of plans and speci�cations must bekept on the job at all times and it is unlawful tomake any changes or alterations from thesame without written permission from theBuilding Inspection Division.The approval of this plan and speci�cationSHALL NOT be held to permit or approve theviolation of any City Ordinance or State Law.
By:
ISSUED BYCommunity Development Department
EGumm on Dec 08, 2017
K AYA K ALLE Y
Suite B: ±1,969 RSF
Suite A
Suite B
Bel Vue
2 4
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 ARONMARCHAND@TURTONCOM.COM
Bel Vue
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