An established investor in office properties in the greater Sacramento area has completed its first acquisition in Elk Grove, California, according to the company that made the announcement.
According to public documents, Kingsbarn Realty Capital, a Las Vegas-based investment entity, paid $11.9 million for the purchase of 2208 and 2218 Kausen Drive from an undisclosed seller in the Laguna West neighborhood of Elk Grove. The buildings are made up of two one-story office buildings that are connected by a shared entryway.
As of the time of publishing of this article, the seller, Laguna West Investment LLC, maintained an office in Pleasanton, but did not respond to phone calls requesting information about the transaction.
Residents can take advantage of the availability of both buildings, which are located within the Laguna West Business Center, which was built in 2006 and is available for rent. A little more than a mile to the west, on this property, is the headquarters of Apple (NASDAQ: AAPL), which, according to its website, owns one of the nearby buildings as well as one of the surrounding structures.
Cushman & Wakefield Group, an international commercial real estate brokerage organization, has an 88 percent lease on the two properties that were sold to Kingsbarn, according to publicly available information. In addition to this, the Capital Nephrology Medical Group and the California Department of Fair Employment and Housing are also tenants in the company’s building, all of whom are committed to the company’s aim of providing high-quality care (CDFEH).
The square footage of 2218 Kausen is 27,204 square feet, but the square footage of 2208 Kausen is 24,412 square feet. The square footage of 2218 Kausen is 27,204 square feet. The building at 2218 Kausen has a total square footage of 27,204 square feet. There are 27,204 square feet in total of floor space in the building at 2218 Kausen Avenue. 2218 Kausen is a two-story building with a total square footage of 27,204 square feet. It is located in the city of Chicago. The facility is located within the city of Chicago. The facility is situated within the boundaries of the city of Chicago. During the course of its four-year ownership term, Laguna West Investment LLC, which purchased the two buildings for $3.92 million in 2018, was able to increase the value of the property by more than threefold, according to public records.
King’s Barn has completed six separate acquisitions in the region over the preceding two years, all of which were office properties in either Roseville or Folsom, and all of which were completed in the first quarter of this year, including the most recent. More than $215 million has been invested in local real estate, with holdings totaling more than 720,000 square feet and located at 2208 and 2218 Kausen Avenues in Minneapolis among the most notable of these acquisitions and developments.
Cushman & Wakefield agents Lisa Stanley and Rick Ryan represented the sellers in the transaction, which closed on February 1st of this year. Lisa Stanley and Rick Ryan represented the sellers in the transaction.