Sacramento Proposal/Approval/Construction Thread - III

[urban_encounter]

Just wanted to give my quick 2 cents. I was in Sac this weekend and some buddies and I went out on Friday night. The new Badlands club at 20th and K is unbelievable. I was honestly blown away. Hands down one of the nicest clubs I've been to (including NYC and SF). They really spared no expense with this place. I haven't been to The Park yet, but this was by far the most "trendy" looking club I've been to in Sac. After leaving Badlands, we headed over to Faces and the same there as well. The new addition was better than I could have ever imagined it to be. Even if you're not gay, these places are DEFINITELY worth a check out (both seemed very non-gay-friendly). My friends and I kept saying "we're in Sacramento!" (because places like that we've only experienced in basically NYC). I just felt compelled to post this because I was so proud of Sacramento to have the vision to get places like this built. Props to the owners. In fact, I now want to bring some of my Denver friends with me next time I come home to "show off" Sacramento's gay scene.

My only complaint- on Friday night, Badlands had an $8 cover and Faces was $15. Just thought that was a little steep.


I never thought that I would live to see the day that Sacramento's gay scene would become a destination....

Although i haven't seen the clubs from the inside; I believe that the new addtions will really add a lot of vibrancy to the city nightlife and will probably draw people from up and down the central valley and from the bay area.


If Sacramento can duplicate in the Downtown core what they've done in Midtown, then Sacramento will be an incredible place to live, play and work.

[ozone]

:previous:
Yeah 20th & K is already transformed..but wait until MARRS and the Pick-Me-Up Coffeeshop opens in a few months!

I'm not much of a club kid these days so I refuse to pay that kind of cover. I'm glad people (especially young gay and lesbian) have more sophiscated places to feel safe, meet and have fun without having to go to San Francisco---but it's a steep price to do so don't you think? Inflation I guess and they do have to pay for the construction somehow.

I'll say it again and again that the city has to do something with that intersection to make it safer. Is it going to take another body in the hospital before something is done?

[downtownserg89]

yeah, badlands is hella cool. i was there the weekend it opened, i dont know if you guys remember what i posted, but i was like it's soo lively. unfortunately i didnt even go inside, due to lack of age. but just from the outside you can see how incredibly chic it looks. i wonder what the men's bathroom looks like.

[cozmoose]

To Urban Encounter,
Now that you call Chicago home, any comment on Chicago Spire?
Have you seen the latest video presentation? its like a skyscraper porn. http://smileys.on-my-web.com/repository/Drooling/drooling-2.gif
http://link.brightcove.com/services/player/bcpid770169321

[urban_encounter]

yeah, badlands is hella cool. i was there the weekend it opened, i dont know if you guys remember what i posted, but i was like it's soo lively. unfortunately i didnt even go inside, due to lack of age. but just from the outside you can see how incredibly chic it looks. i wonder what the men's bathroom looks like.


BTW for Serg, Andy (or anyone who has ventured down to Lavender Heights?)

How are the crowds with all of the new competition? Are there enough people to support Faces, Depot, HeadHunters and Badlands??

(Obviously Club 21 caters to Lesbians and the Mercantile has a loyal following)...

When I lived in San Francisco for a short time back in the 90's, I was always amazed how many people I would meet from Sacramento, who would come down to the City to go out. I always thought to myself that if somebody could open a club or two in Sacramento so that people in Sacramento didn't have to drive down to SF, they would make a lot of money and really make K street a destination.

[urban_encounter]

To Urban Encounter,
Now that you call Chicago home, any comment on Chicago Spire?


Real quickly so not to divert attention from Sacramento development, the Spire is an incredible proposal that will elevate the Chicago skyline to new heights (literally). This proposal coming as there are already a number of 70, 80 and 90 story buildings currently u/c. And though I may be a bit biased, Chicago just may be the only U.S. city able to pull this off today.. NY is still reeling from 9/11 and few other cities can absorb the number of residential units that the Spire will have....

The local vibe here in Chicago is that Garrett Kelleher may just pull this off.



Have you seen the latest video presentation? its like a skyscraper porn. http://smileys.on-my-web.com/repository/Drooling/drooling-2.gif
http://link.brightcove.com/services/player/bcpid770169321



:haha:

No this is the first time that I've seen the video. But I see what you mean. 150 stories leaves you craving a cigarette and a dirty martini...

(and I don't even smoke)

[goldcntry]

Here are a few views I got the other day (4/18) when I was over in training at the Zigg. I'm posting the pics specific to the STRS building under its forum. With that said, on to "Views from the Riverwalk!"

http://i103.photobucket.com/albums/m126/goldcntry/Riverwalk5.jpg

http://i103.photobucket.com/albums/m126/goldcntry/Riverwalk2.jpg

http://i103.photobucket.com/albums/m126/goldcntry/Riverwalk1.jpg

http://i103.photobucket.com/albums/m126/goldcntry/Riverwalk3.jpg

http://i103.photobucket.com/albums/m126/goldcntry/Riverwalk4.jpg



... i wonder what the men's bathroom looks like.

Oh, and Serg? Dearest? Bad Monkey! Bad Monkey! :tomato: :laugh: :tomato:

*hugs*

[aufbau]

How are the crowds with all of the new competition? Are there enough people to support Faces, Depot, HeadHunters and Badlands??

I went out to Badlands for the first time last week and the it was quite packed, The depot seemed to have much less people than a usual Saturday night. However, I figure once the "newness" of badlands wears off, more people should go back to the depot. I can't speak for the business at faces that night, but I prefer badlands to faces by a wide margin.

Is it true that the depot will undergo renovations in the near future?

oh and Sergie, the bathrooms were quite nice;)

[ltsmotorsport]

Old building hits new heights as office lofts

Location is key for mostly hidden structure with easy Capitol access
Sacramento Business Journal - April 20, 2007
by Michael Shaw
Staff writer

While AKT Development Corp. and developer Anthony Giannoni are working on plans for another office tower east of the Capitol, they have decided to restore the former Sacramento home of Pacific Bell, a nearby building that dates to the 1920s.

And the office lofts they're planning to put there are unique to downtown, brokers say.

Work began this week on the seven-story, horseshoe-shaped building known as 1414 K Street, which recalls an earlier era with its solid concrete construction and facade of brick, stone and touches of iron.

"We're trying to restore it to the grand, old building it was," Giannoni said.

He described a complete "gutting" of the 50,000-square-foot building that will reveal 12-foot-high ceilings for the first time in years. The ground floor has a cathedral ceiling 26 feet high. Most floors had been truncated by dropped ceilings that enclosed ductwork and lighting. Much of that mechanical apparatus is being rebuilt and the lofty space will be a selling point,.

When built, 1414 K enjoyed a prominent spot on a busy thoroughfare. But it has been dwarfed as the city has grown up around it. The building is tucked behind the Sacramento Convention Center on two sides and in the shadow of AKT's 12-story Meridian Plaza office tower on another.

But it's still got a lot going for it beyond a unique veneer, industry players said.

"It's a great location," said Carl Kowall, a longtime independent broker downtown who has sold a dozen office buildings. Most notably, the building is a short walk from the Capitol, making it prime space for lobbyists or organizations that want access. He said the high ceilings would be a draw.

"Parking would also be a key factor," in the property's marketability, Kowall said. "We all love our cars, despite the call for light rail."

Greg Levi, the broker at CB Richard Ellis who is marketing the property, said tenants would use a nearby parking structure until an underground lot is completed connecting the existing Meridian Plaza tower with another one planned for the same block.

Giannoni said he was surprised how many workers in Meridian bike to work each morning and use showers there.

Although it will be considered a quality Class B project when completed, tenants would have the same access as those in Meridian to Class A services, such as security and a gym. But rents would be below the Class A price, perhaps $2.50 to $2.60 a square foot, Levi said.

The gym and other amenities could be moved from the tower to the renovated building.

Former tenants already have vacated the building or will do so shortly, and new ones could be in by late January, Giannoni said. Developers discovered that the molds used to create the exterior features are still available at Gladding McBean LLC in Lincoln, if the firm decides it wants work done on the building's facade.

Kowall said visibility is also a factor potential tenants will consider. The building is tucked away from main thoroughfares.

"It's not about the visibility or view, it's about location," Levi said of the potential attraction of 1414 K. Tenants would be able to walk through the lobby of Meridian Plaza to get to the Capitol.

AKT, founded by Angelo K. Tsakopoulos, bought Meridian Plaza and land for another office building for $75 million in 2004. Giannoni has remained a partner in the Meridian project.

Giannoni said plans for the new office tower are still being reviewed. It's expected to be 23 stories high with nine levels of parking and 300,000 square feet of offices.

While some design elements might be similar to the first phase, city officials don't want twin buildings, Levi said.

Sacramento city spokeswoman Jill Scofield said there have been pre-application meetings with the developers. The city expects a formal application this summer.

Another office tower would further increase pressure on the downtown market, which already has David S. Taylor's new building going up at 621 Capitol Mall and another on the way at 500 Capitol, which is built by Tsakopoulos Investments, a company run by another branch of the family.

"I don't think we're super-saturated yet," Kowall said. "I think this town's growing up."

http://cll.bizjournals.com/story_image/79578-400-0.jpg?rev=2

[goldcntry]

Not sure if anyone brought this up or not (senility kicking in...):

INC. Magazine listed their 2007 Hottest Boomtowns and we made the top 20!

List of top twenty in large city category

1.Las Vegas, Nev.
2.Phoenix-Mesa-Scottsdale, Ariz.
3.Fort Lauderdale, Fla.
4.Orlando-Kissimmee, Fla.
5.Riverside-San Bernardino-Ontario, Calif.
6.West Palm Beach- Boca Raton, Fla.
7.Raleigh-Cary, N.C.
8.Honolulu, Hawaii
9.Northern Virginia
10.Salt Lake City, Utah
11.Tampa-St.Petersburg-Clearwater, Fla.
12.Jacksonville, Fla.
13.Washington, D.C-Alexandria, Va.
14.Nashville, Tenn.
:banana::tomato:15.Sacramento, Calif. :tomato::banana:
16.Austin-Round Rock, Texas
17.Houston-Sugar Land-Baytown, Texas
18.Seattle-Bellevue-Everett, Wash.
19.Bethesda-Gaithersburg-Frederick, Md.
20.Portland, Oreg.-Vancouver-Beaverton, Wash.

[ozone]

Thanks for posting info about 1414 K. I walked by there yesterday and was wondering what the heck they were doing in there because it looked like they were remodeling. I think it's kind of an odd location for lux lofts since it's across the street from the convention center and surrounded by office buildings. Maybe I don't get it. They talk about views but what view will the residents have exactly? It is a beautiful building though.

[sugit]

They are turning the building into office lofts, not residentual. It's going to be Class B space, so I doubt there will be much luxgery other than what Meridian I and II will provide.

[innov8]

Thanks for posting info about 1414 K. I walked by
there yesterday and was wondering what the heck they were doing in there
because it looked like they were remodeling. I think it's kind of an odd location for lux lofts since it's across the street from the convention center and surrounded by office buildings. Maybe I don't get it. They talk about views but what view will the residents have exactly? It is a beautiful building though.


It's the perfect location for office lofts... it’s within blocks of the
capitol which is a lobbyist dream. I imagine the view their talking about is
probably looking down K Street since it's almost right on the end of the mall.
I go into the building several times a year and always enjoy the
view to the west.

[SacRising]

To Urban Encounter,
Now that you call Chicago home, any comment on Chicago Spire?
Have you seen the latest video presentation? its like a skyscraper porn. http://smileys.on-my-web.com/repository/Drooling/drooling-2.gif
http://link.brightcove.com/services/player/bcpid770169321

Is there a Gozilla-size Unicorn buried under Chicago?

Call it spire envy. I think we've discussed Sacramento's lack of a defining landmark already...a St. Louis Arch, a Seattle SpaceNeedle, a Golden Gate Bridge, a Chicago Spire, etc. We have the Tower Bridge and State Capital, neither of which provide a looming presence. Maybe the 301 CM, Aura and many of the other proposals will serve this purpose, but someday I hope we will see a landmark of this caliper in our city. Wishful thinking I guess...

Now, back down to a human scale. The MARRS project will include a Luigi's Pizza by the slice shop, which I am stoked on. If you never eaten at Luigi's on Stockton Blvd. at 13th Ave., you are missing out. I live near there and eat there as often as my aging blood vessels will allow. Try the combo and add linguica, mmmm.

[TowerDistrict]

I think if Capital Grand stands a chance at being built - then it would be the iconic, looming presence of Sacramento. I mean, the building would be over two Wells Fargo Centers stacked on top each other, yet sitting on only a quart-block. That tower would also be over 300' taller than the St. Louis Arch.

[downtownserg89]

..oh and Sergie, the bathrooms were quite nice;)

sweet! any details? ;)

[redvine]

Whats the current deadline with Aura?

Funny you should ask. In today's Bee:

"The developer of the proposed Aura Condominiums, still working out his financing for the downtown project, has asked for more time to purchase land for the job."

If you are interested, see http://www.sacbee.com/101/story/160000.html for the full article.

[ozone]

:rolleyes: Oh please..what the f'k is an "office loft"?

[innov8]

It's a new hip way to say "small office" ;)

[sugit]

For anyone interested, there are a bunch of EIRs for downtown projects below

http://www.cityofsacramento.org/dsd/about/planning/CurrentEnvironmentalImpactReportsProjects.cfm

[Schmoe]

Not sure if anyone brought this up or not (senility kicking in...):

INC. Magazine listed their 2007 Hottest Boomtowns and we made the top 20!

Yeah, urban_encounter brought it up in the Companies thread.

[ltsmotorsport]

:haha:

http://img.photobucket.com/albums/v226/ltsmotorsport/cathedral_lol.jpg


Do they think they're building a 900 footer?

[reggiesquared]

Actually, 4pm in December would mean the sun is very angled and near the horizon casting an unusually long shadow but the picture is a little out of control. Hilarious. Plus, it seems to be the only high rise that has the ability to cast mile long shadows :haha:

[joninsac]

Apparently we have 2 suns, judging by the other buildings' shadows.

[Texicali]

:previous:
Hmm, hadnt noticed that. Must have kept the same figure from the morning analysis.

[ozone]

ltsmotorsport you know that everyone likes to think thiers is longer than it really is. ;)

[innov8]

http://img257.imageshack.us/img257/9125/25april2007006ffw2.jpg
Provided by snatester

http://img20.imageshack.us/img20/5092/621cm420070425fmj5.jpg

More 621CM Tower Feature here: http://forum.skyscraperpage.com/showthread.php?t=86268&page=21

[uzi963]

wow. they got the crane up at calSTRS

http://i129.photobucket.com/albums/p216/uzi963/DSC00821.jpg

http://i129.photobucket.com/albums/p216/uzi963/DSC00820.jpg

http://i129.photobucket.com/albums/p216/uzi963/DSC00819.jpg

a couple close ups on the crown of 621

http://i129.photobucket.com/albums/p216/uzi963/DSC00818.jpg

http://i129.photobucket.com/albums/p216/uzi963/DSC00822.jpg

[aufbau]

Thanks for the photos folks. Wow, I'm please the crane is up at calstrs already.

regarding 621, it's amazing how much taller it looks with even the partial crown feature installed. Before it went up, I was disappointed on how stubby this building turned out to be, but this feature makes it better:yes:

[ozone]

:previous: Yeah it should be a nice feature. The parking garage however is an abomination.

[fatchocolatecow]

A couple of interesting items in the following...


Sacramento's Railyard: The Updated Vision

This spring, the plan for The Railyards project is under revision. Thomas Enterprises and city officials are weighing cost considerations, changing market dynamics and other factors to update their vision. Here's your chance to see it, in a presentation designed for a business audience. You won't want to miss the Structures breakfast on June 1st, organized by The Business Journal and the Metro Chamber.

Panelists:

Suheil Totah, Vice President of Development, Thomas Enterprises

Ray Kerridge, City Manager, City of Sacramento

Marty Hanneman, Assistant City Manager, City of Sacramento

[Sactorleans]

The small condo project at the corner of 21st and S Street (2031 S Street) has posted their units for sale through Coldwell Banker here:

http://www.coldwellbanker.com/servlet/PropertyListing?action=detail&ComColdwellbankerDataProperty_id=11453707&page=property

The building will also include a bistro restaurant called Tuli:

http://tulibistro.com/?

[Schmoe]

A couple of interesting items in the following...


Sacramento's Railyard: The Updated Vision

This spring, the plan for The Railyards project is under revision. Thomas Enterprises and city officials are weighing cost considerations, changing market dynamics and other factors to update their vision. Here's your chance to see it, in a presentation designed for a business audience. You won't want to miss the Structures breakfast on June 1st, organized by The Business Journal and the Metro Chamber.

Panelists:

Suheil Totah, Vice President of Development, Thomas Enterprises

Ray Kerridge, City Manager, City of Sacramento

Marty Hanneman, Assistant City Manager, City of Sacramento

Hmm...I was planning to come back to Sac that day. Maybe I'll have to see about coming a day early and hitting that breakfast. Was there a link or any info on how to register? A few of us went to this a couple years ago, and it was good.

[fatchocolatecow]

Sorry, here is the entire email...


Sacramento's Railyard: The Updated Vision

This spring, the plan for The Railyards project is under revision. Thomas Enterprises and city officials are weighing cost considerations, changing market dynamics and other factors to update their vision. Here's your chance to see it, in a presentation designed for a business audience. You won't want to miss the Structures breakfast on June 1st, organized by The Business Journal and the Metro Chamber.

Panelists:

Suheil Totah, Vice President of Development, Thomas Enterprises

Ray Kerridge, City Manager, City of Sacramento

Marty Hanneman, Assistant City Manager, City of Sacramento

This event is sponsored by Bank of the West (http://www.bankofthewest.com/BOW/home), Kaiser Permanente (http://www.kaiserpermanente.org/) and Northern California Carpenters Regional Council (NCCRC) (http://www.nccrc.org/).

Tickets are $40/person ($50 after May 25). Table sponsorships are $600 and include table signage and one reserved table for ten guests. Registration begins at 7:00 a.m. with breakfast and the program from 7:30 - 9 a.m.

Register on-line at http://sacramentocacoc.weblinkconnect.com/CWT/External/WCPages/WCEvents/EventDetail.aspx?EventID=5742 or call the Sacramento Metro Chamber at (916)319-4260.

[downtownserg89]

don't get me wrong i think the tower feature looks great..

..but for some reason, i was KIND OF expecting it to be like, a little taller?

but i mean i'm not complaining, it looks good. :cool:

[urban_encounter]

Thomas Enterprises and city officials are weighing cost considerations, changing market dynamics and other factors to update their vision.


Translation: The scope of the project is being cheapened..

I have a feeling that by the time they're done, the railyards will end up looking like a suburban strip mall....

[brandon12]

perhaps, but it could also mean more retail and office, less housing. I wouldn't be too worried at this point.

[ozone]

:previous: I agree. The Railyards Project has too eyes on it for them to turn it into something so cheap. I guess we'll just have and wait and see.

[TowerDistrict]

i don't deny the concern that UE raises - but in my opinion, what will be be revealed at the structures conference will be not much more than what SacRising had rumored about a month ago.

I think we're going to see a new land use plan that features a continuation of the dowtown grid. I also think that since this is a "business" conference and not a public workshop, they will be pitching hard the first phase of the project to prospective local business owners.

i really think it should be stressed that this is not a public meeting. This conference is for business exposure only. The only cheapening i think it will reveal, is that there will be no $500 million sports & entertainment complex.

[SacRising]

i don't deny the concern that UE raises - but in my opinion, what will be be revealed at the structures conference will be not much more than what SacRising had rumored about a month ago.

I think we're going to see a new land use plan that features a continuation of the dowtown grid. I also think that since this is a "business" conference and not a public workshop, they will be pitching hard the first phase of the project to prospective local business owners.

i really think it should be stressed that this is not a public meeting. This conference is for business exposure only. The only cheapening i think it will reveal, is that there will be no $500 million sports & entertainment complex.

Agree TD...and thanks for the throwback. yes, I still stand by it. The new railyard plan will be a continuation of the downtown grid. I did see the preliminary site plan that showed the new layout. I'm excited about it and understand the logic not only from a city planning perspective, but also from a development phasing perspective. with a grid, the railyard can better phase the delivery of the buildout.

UE, the suburban strip mall comment is actually how I felt about the old (still current) layout.

[urban_encounter]

:previous:

Well you are all probably right....

Given Sacramento's strong retail and commercial office market, I would imagine that they are in fact probably reducing the housing component and upping the retail and office space (as Brandon said).

I really hope they keep the canal district and allow space for a future performing arts center.

Obviously the arena is never going to happen in the railyards.

[sugit]

aid).I really hope they keep the canal district and allow space for a future performing arts center.

I heard the canal is out...

http://sacramentohistory.blogspot.com/

This blog has the latest run down of latest revision

http://bp3.blogger.com/_LZ89cAB0_BY/RivOLkNYwxI/AAAAAAAAAA0/Br7uIOmiBQo/s400/railyards.jpg

[SacRising]

I heard the canal is out...

http://sacramentohistory.blogspot.com/

This blog has the latest run down of latest revision

Very nice find. As for the author's comments about the green parkway strip being dead space like Capital Mall...I'm not so sure. Unlike Capital Mall, it looks like this parkway is more pedestrian friendly, and it will be surrounded by residential buildings. If it's anything like the park blocks in downtown Portland, (with plenty of residential) this parkway will have joggers and dog walkers and sunbathers, etc. But obviously, the residential uses are the key.

I noticed on the map's key, it shows that residential uses will be incorporated throughout the site, even over the retail areas. :tup: Awesome! Who knows what it will actually be in 20 years, but at least they are planning to design res. over retail.

[sugit]

Region's office market heads skyward

Gain in leased space doubles '06 pace
Sacramento Business Journal - April 27, 2007
by Michael Shaw

For the Greater Sacramento office market, almost all signs point up.

Rents are rising. The gain in total leased space since the start of the year, known as net absorption, is increasing at twice the pace of last year. Space is at a premium in downtown's premier buildings.

About the only thing headed down in most of the region is vacancy rates, according to first-quarter reports by major brokerages. If the trend continues, as some in the industry expect, it would mean a year that favors landlords over tenants.

The big exception for the first three months of the year was Rocklin, where vacancy rates are high and climbing as developers continue to build.

Although they track slightly different segments of the market, Cornish & Carey Commercial and CB Richard Ellis each issued first-quarter reports showing that vacant space shrank in the first quarter by almost 1 percentage point. It sounds small, but when vacancy rates are between 12 percent and 15 percent, a 1 point drop in a quarter translates to a significant decrease.

The brokerages estimated that total leased space in the market ballooned by as much as 382,000 square feet. That's more than twice the increase for the same period last year.

"We're off to a good start," said John Frisch, managing partner of Cornish & Carey's Sacramento office. "For the last six months or so, there's been a feeling that there is more activity out there."

It's a pleasant surprise for landlords. Last year was considered a bit of a dud, and the early outlook for 2007 wasn't promising.

Rising prices, foreign interest
Frisch's office tracks leasing and new construction of non-government buildings that exceed 5,000 square feet. In Sacramento, there's about 70 million square feet of offices fitting that description, and the brokerage estimates that about 14.3 percent of that space is unused, down from more than 15 percent last quarter.

CB Richard Ellis tracks larger buildings, of at least 10,000 square feet, and its recent report showed a similar trend, with vacancy falling to about 11.75 percent for the Sacramento area.

Falling vacancy typically means rising rents.

The average price in Sacramento climbed 4.5 percent in the past six months to $1.85 a square foot for a full-service office lease, according to CB Richard Ellis.

"The absorption numbers will be steady throughout the year," said Jason Goff, a senior vice president at Jones Lang LaSalle, of the overall regional market. "I would not be surprised to see the market dip below 10 percent vacancy. ... There's steady growth in the state (government), steady growth in state-related agencies and the private sector."

One indicator of the value of Sacramento real estate may come from the amount of foreign investment that arrives this year. There were just three overseas transactions in 2006 -- two by multi-regional buyers and one by a German fund -- totaling $202 million. That's about a 50 percent increase from the previous total of $137 million, according to Jones Lang LaSalle. By comparison, foreign buyers spent $1.75 billion on San Francisco real estate last year.

Vacancy at Class A buildings downtown is about 5 percent. For buildings along the L Street corridor, which serve lobbyists, associations and attorneys who want quick access to the Capitol, vacancy is even lower, about 2 percent. (Meridian II is so set with its location)

But the downtown outlook is uncertain, with two new buildings expected to be completed within the next two years: 621 Capitol Mall by David S. Taylor Interests Inc. and Tsakopoulos Investments' 500 Capitol Mall. Both are trying to lure tenants. Together, they will bring 765,000 square feet onto the market.

A surprising development in the first quarter was a sharp drop in available space in South Natomas, largely because Sutter Health leased more than 50,000 square feet in a business park.

Still building as Rocklin softens
At the other end of the spectrum, brokers have started talking about the high vacancy rates in Rocklin -- about 25 percent, a 1.7 percentage-point increase in the first quarter.

Chris Strain, of C. Strain Corporate Real Estate, predicted last year that vacancy rates would continue to fall marketwide. But Rocklin is looking overbuilt, he said. He provided a quick market analysis that showed there are 15 buildings in Roseville or Rocklin that could accommodate a tenant wanting at least 50,000 square feet.

Even city leaders have expressed concern about the abundance of space.

Developer Abe Alizadeh is building parts of three office projects in Rocklin that will total about 450,000 square feet when completed.

"We invest and develop for the long term, not the short term," he said. "I completely believe in the long-term prospects of Highway 65. If you believe in it, you just have to weather that and go forward."

While the industry waits to see if the first quarter was a fluke or the start of a trend, tenants seeking industrial property have seen vacancy rates hold steady or fall for several quarters. CB Richard Ellis figures showed more of the same in the first quarter.

Industrial construction largely has been contained to small buildings, even as developers have been unable to meet demand for large projects, said Kevin Ramos, a partner in the Buzz Oates Cos.

"Space is getting tight," he said. "There's not a lot of land left to do industrial in town. Land is expensive. Fees are expensive. It's been a challenge."


http://img404.imageshack.us/img404/9949/untitledyt8.png

[ltsmotorsport]

Man, I was just gonna post that article. I guess I'll post the picture that was with it. Good read too.

http://cll.bizjournals.com/story_image/80737-400-0.jpg?rev=2



Thanks for the railyards info too.

[sugit]

I think this is going to be a nice looking building, sea of parking aside.

South Natomas offices will seek downtown rates

Kelly aims for '09 completion

The majority owner of River City Bank plans to start construction this fall on what would be some of the most expensive office space outside downtown Sacramento.

The 12-story building would conserve water, save energy and even produce electricity.

It might also be the new headquarters for River City Bank.

Jon Kelly, bank founder and leader of the partnership developing the building, wants a lease rate of $3.20 per square foot for The Gateway Tower, a dramatic increase from the going rate of $2 in Natomas, but most of that is in older two- and three-story buildings.

The new Class A office buildings downtown fetch lease rates as high as $3.50 per square foot.

The 320,000-square-foot building in Natomas Corporate Center would be the tallest building in South Natomas. The tallest buildings there now are the two six-story buildings next door in the center.

The lease rates, however, might be pushing the limits of what businesses will want to pay for the area.

People paying downtown prices want to be downtown, said Chris Strain, tenant office broker with C. Strain Corporate Real Estate.

"If you are talking Class A office space, you are competing against downtown, and there is a tremendous amount of competition," Strain said. "It is only when downtown gets really tight, then offices get squeezed out to the suburbs. The professionals who want Class A offices want to be able to go outside and be part of the city, not just part of an office park."

"That is the benefit of downtown" said Don Little, senior vice president of Northern California for Opus West Corp. "There, you can walk to the high-end restaurants and hotels. In Natomas, you have to get in your car to go to lunch."

A high-end hotel is planned for the Natomas Corporate Center.

The current high rate in Natomas is about $2.35 per square foot in a fully serviced building, said Steve Park, office broker with TRI Commercial/Corfac International.

"I think it is going to be a tough play to get 90 cents more," he said. "I can't see them getting that."

The most likely candidates for occupants in the building are people lured out of downtown, Little said.

"It's going to be a beautiful building, and they will lease it out," said John Frisch, senior vice president with Cornish & Carey Commercial.

Price aside, Gateway Tower does have one advantage -- free parking. The cost of parking downtown adds anywhere from 40 cents to 50 cents per square foot to the lease price.
Green, happy tenants

The greening of society should also be a big selling point for the Gateway Tower, said Tom Aguer, broker with Aguer Havelock Associates, which is pre-leasing the building. "This will be the crowning touch in the South Natomas market, a real landmark."

The building's design will save more than 3.5 million gallons of water a year compared to a traditional design. It will do that with an efficient heating and air conditioning system, waterless urinals and other features. It will also have an array of solar panels creating covered parking. The duct work of the mechanical systems will be cleaned to hospital standards, and the ongoing filtering will eliminate 95 percent of the pollutants.

The building will have a "gold" Leadership in Energy and Environmental Design (LEED) rating, the second-most stringent rating. Not only will the building conserve resources, but also it will use no gas-emitting paints, carpets or finishes.

"Employees who work in a LEED building are healthier, happier and more productive," Aguer said.

There is a huge additional cost to converting an existing building to LEED certification, but it is only a nominal additional cost to build with LEED in mind from the start, he said. And the building will benefit from ongoing savings.

"The CEOs of today are sensitive to this," Aguer said. "Thirty years ago, they didn't think about it very much, or they didn't think it was important. The people running companies now were raised in the 1960s and 1970s, and they want this."

etting sights on Spring 2009

When Kelly, chairman of the board of River City Bank, developed the other signature buildings in the Natomas Corporate Center, he jump-started the project by moving the headquarters of River City Bank there. The bank's lease comes due in a year.

"We are an interested party, but we are not committed to it yet," said Anker Christensen, chief financial officer of RCB Corp., the holding company of River City Bank.

The tower has no signed leases yet, but as Aguer points out, the partnership didn't get its entitlements from the city until the end of last year. So far, tenants are interested in everything from large offices to multiple floors, he said.

With construction starting in October, the Gateway Tower could be ready for tenants in spring 2009. That timeline would have it enter the marketplace within a year or so after David Taylor's U.S. Bank Tower on Capitol Mall, expected to open in September 2008. A new office building that Angelo G. Tsakopoulos is building at 500 Capitol Mall could open sometime in 2009.

Back in the recession of 1994, the Sacramento market had three new Class A office buildings open within a span of two years: One Capitol Mall, the current U.S. Bank Plaza and 400 Capitol Mall (Wells Fargo Plaza).

"That was more than the market had seen in a long time, and they all leased up," Aguer said.

http://img235.imageshack.us/img235/6146/untitledqm5.png

[TowerDistrict]

Very nice find. As for the author's comments about the green parkway strip being dead space like Capital Mall...I'm not so sure. Unlike Capital Mall, it looks like this parkway is more pedestrian friendly, and it will be surrounded by residential buildings. If it's anything like the park blocks in downtown Portland, (with plenty of residential) this parkway will have joggers and dog walkers and sunbathers, etc. But obviously, the residential uses are the key.


Thanks for posting that sugit!! i didn't want to wait til June anyway ;)

I haven't had a chance to really look it over, but that parkway strip looks to be a good size. Not a worthless median, and not a vast swath of barren lawn. Locally speaking, brings to mind Curtis Park - and that's a good thing.

[Sacto]

^ Great article.

[fatchocolatecow]

From the blog...

"One semi-troubling thing about the new map is that it doesn't clearly delineate which of the historic Shops buildings, if any, are explicitly part of the Railroad Technology Museum--one of the more interesting upcoming discussions will be how State Parks and Thomas Enterprises come to terms over what will belong to Parks (ideally, the majority of the Shops buildings, if not all of them) and what will be restored by Thomas (hopefully at least a small part like the Paint Shop, for use as a public-accessible market building.)"


Last I heard, Thomas will own the all of the Shops buildings except for the two western most buildings, which will be the Railroad Technology Museum.

[TowerDistrict]

I believe the museum has had this sorted out for several years now...

In late 1999, the Museum secured a lease from Union Pacific Railroad on the complex’s two main structures, the Boiler Shop and Erecting Shop - taken from this page (http://www.californiastaterailroadmuseum.org/doc.asp?id=374).

Erecting Shop...

http://www.trainweb.com/mvc/year2001/10/2001j06t/mvc-355e.jpg

Boiler Shop...

http://www.trainweb.com/mvc/year2001/10/2001j06s/mvc-334e.jpg

taken from this page (http://www.trainweb.com/travelogues/rayburns/2001j06a.html).

[innov8]

http://img259.imageshack.us/img259/8991/calstrs220070427ffq6.jpg
CalSTRS crane

http://img209.imageshack.us/img209/4734/500cm20070427ffz6.jpg
500CM hole

http://img259.imageshack.us/img259/8363/621cm120070427foj8.jpg
From the third floor of the Capitol

[BrianSac]

http://img259.imageshack.us/img259/8991/calstrs220070427ffq6.jpg
CalSTRS crane

http://img209.imageshack.us/img209/4734/500cm20070427ffz6.jpg
500CM hole

http://img259.imageshack.us/img259/8363/621cm120070427foj8.jpg
From the third floor of the Capitol

Great Shots as usual, innov8!

As I drove by 500 CM on 5th street, I had a great view of 621 CM, so it got me wondering how much 500 CM is going to block pedestrian views of 621 CM.

Only Time will Tell.

[Sacto]

Nice! Two cranes are up now...I wanna see more though!

http://img259.imageshack.us/img259/8991/calstrs220070427ffq6.jpg

[innov8]

By Bob Shallit - Bee Columnist
Published 12:00 am PDT Saturday, April 28, 2007

Movin' on up: Call it a coming out party for the condo that could.

Developers of the L Street Lofts project in midtown are blocking off 18th Street (between Capitol and L) from 11 a.m. to 4 p.m. today for a street fair celebrating their progress.

Never mind that the planned nine-story building is only about half completed.

"The building has become very apparent in the neighborhood and it's time to connect with midtown," says Michael Onstead, a Lyon Real Estate agent who is handling project sales.

While downtown's two biggest condo projects remain grounded by financing problems, this one in midtown -- being developed by Sotiris Kolokotronis -- is on schedule for a November opening.

Onstead reports that buyers have made down payments on about 20 of the 92 units, which range from $389,000 to $1.2 million. Paperwork is being processed for another 10, he says.

Developers of downtown's high-rise condos required down payments of 10 percent and 15 percent of each unit's sales price. Kolokotronis is asking a flat rate per condo that's considerably less -- $15,000 for most units, $60,000 for the penthouses.

Why so low? Because asking more from buyers inhibits sales. "It's not that they don't have the ability (to pay). They just don't want to," he says.

[ozone]

:previous: I'll be at the block party today. I'll be wearing my tatered cowboy-ish hat so if you see me say hello.

[Grimnebulin]

:previous: I'll be at the block party today. I'll be wearing my tatered cowboy-ish hat so if you see me say hello.

I'm looking at it right now - big balloon arch but not too busy. Playing some kind of bad music really load. Yikes.

[ozone]

:previous: just got home. nope not too busy. It's saturday afternoon and I got a late start. Councilmember Cohen just showed up while I was grabing a bite at the Mexican place next to Zocola's but it's too hot out there especially since they took the trees out and I've got work to do so maybe I'll go out towards the end.

[BrianSac]

I'm looking at it right now - big balloon arch but not too busy. Playing some kind of bad music really load. Yikes.

Hey, I liked the band. Good old fashion blues and rock n roll. What's not to like. Anyhow, we got sloshed at Zocalo, so maybe the band sounded better than they really were, :cheers:

The fresh lime margaritas were really good!!!

Kudos to the belly dancers!

[ltsmotorsport]

Mmmmm, belly dancers.

[urban_encounter]

Mmmmm, belly dancers.



:haha:

[Fusey]

Ahhhh man, I love the blues--but thank god I have a Persian girlfriend! :haha:

[urban_encounter]

Mmmmm, belly dancers.


Mike the next time your up in Sac, hit up Kasbah...


http://www.kasbahlounge.com/entertainment.html


Serving food until 3:00 a.m.

No word on when the bellies retire for the evening...

;)

[ltsmotorsport]

http://gorillacrouch.com/pics/quagmire



I shall. ;)

[downtownserg89]

i drove by the festival thing earlier, it looked cool. i thought it was some gay oriented gathering, though.

[Grimnebulin]

i drove by the festival thing earlier, it looked cool. i thought it was some gay oriented gathering, though.

:haha:

I thought so too at first but then I realized the balloon arch wasn't the full rainbow, only orange and white, plus some other color.

[downtownserg89]

omg that is the same reason why i stopped thinking it was a gay thing!
because of the lack of the rest of the colors. how funny. :haha:

[innov8]

I'm sure I'm not the only one who has noticed this... to me both the CalSTRS
and Gateway Towers are very similar in shape with the curved side and flat side.
Man, this city sure getting it’s fare share of twin buildings these days.

http://img235.imageshack.us/img235/6146/untitledqm5.png

CalSTRS Headquarters Building
19 Stories, 277' West Sacramento Riverfront
http://img127.imageshack.us/img127/377/calstrs400k1nf.jpg

[creamcityleo79]

I'm sure I'm not the only one who has noticed this... to me both the CalSTRS
and Gateway Towers are very similar in shape with the curved side and flat side.
Man, this city sure getting it’s fare share of twin buildings these days.

http://img235.imageshack.us/img235/6146/untitledqm5.png

CalSTRS Headquarters Building
19 Stories, 277' West Sacramento Riverfront
http://img127.imageshack.us/img127/377/calstrs400k1nf.jpg

...and buildings with rounded sides...
http://www.aia.org/aiarchitect/thisweek06/0714/0717orlando4_jaxcourt_b.jpg

http://www.world-guides.com/images/sacramento/sacramento_1201k_ban_rollon.jpg

[aufbau]

^don't forget esquire plaza as well (my favorite highrise in Sacramento).

[sugit]

I'm with you aufbau...Esquire is my favorite as well

[creamcityleo79]

You're all gonna disagree with me; but, my favorite is the current US Bank Tower.

[brandon12]

^mine too. WF a close second.

[innov8]

neuhickman79, which city is this photo from? It doe's look simular to the Fed. Court bldg.

http://www.aia.org/aiarchitect/thisweek06/0714/0717orlando4_jaxcourt_b.jpg

http://img129.imageshack.us/img129/4582/26fedbw2ii.jpg

[creamcityleo79]

That is so odd...I got that from google images. Now that I look at it closer, I realize it's not our Fed Courthouse. I looked it up and that is actually a pic of the Jacksonville, FL courthouse.

[arod74]

:previous: I gotta agree with neuhickman and brandon on this one. The current US Bank tower is my favorite. You have to love its modern art-deco flavor which I think the architects (Kaplan McLaughlin Diaz) pulled off without it looking forced or cheap.

I think WF center is the most overrated. It just looks a bit plain IMO. I think the size or layout of the widows lacks something I can't lay my finger on. If I had a wrecking ball for a day I would definitely go after Capitol Square:yuck:. Heck with all the windows falling out of it, the building was built so on the cheap by the state it will probably fall over by itself. The least appreciated building definitely has to be the Cal/EPA building. I love the cool glass fingernail on the top. Just wish there was some cool lighting effect on top.:2cents:

Since all is quite on the front lets hear from everyone..

[friedpez]

Honestly, mine would have to be Aura, if it ever gets built. I can't wait to see it complementing 621, both with their razor-blade top edges. Plus, Aura's glass will look stunning all times of the day, especially in the evening when the orange and reds hit it like the Renaissance Tower. Add to that the night-time illumination and I'm drooling. For the time being, however, my fav is the Renaissance Tower because it looks so different when viewed from various angles and its colors really stand out when the sun sets.

[innov8]

Took this over the weekend coming home from the bay.

http://img340.imageshack.us/img340/1089/621cmskyline20070428fkk5.jpg (http://imageshack.us)

My fav would be the current US Bank tower, it lights up nice at night and
looks good from all sides. I really enjoy the Renaissance Tower when the light
outside is dark and low light reflects off it. The Emerald tower is just
beautiful too... I just wish it was taller as originally planned. The EPA bugs me
cause the north side is just sad, not detail or interesting features like the front has.
Oh yeah, and the Esquire always makes me proud :)

[foxmtbr]

Great shot there!

The Emerald tower is just
beautiful too... I just wish it was taller as originally planned.

Excuse my ignorance :P, but how tall was it originally planned to be?

[innov8]

Thanks :)

If I remember right, they cut off around ten floors.

[ltsmotorsport]

Funny I actually like the north side of EPA better with the all glass facade. I love the view coming into downtown on 160.

My personal favs are Esquire and the Federal Courthouse. I go back and forth on which I like better, but they are both impressive architecturally. So much fine detail in each. And if you've never been to the to the 15th or 16th floor of the Fed, you're really missing out.

I think Renn Tower is third for me with it's all glass facade and the colors it picks up in the sky. Never understood the hatred some Sacramentan's have for this building.

[foxmtbr]

Ah, what a pity. :( It would have looked beautiful... well, it still does.

[innov8]

Funny I actually like the north side of EPA better with the all glass facade. I love the view coming into downtown on 160.

You also see the mechanical crap on top from the north :(

[aufbau]

And if you've never been to the to the 15th or 16th floor of the Fed, you're really missing out.

Is there an observation deck open to the public? Or must you have some other court related business? I can't find a decent place in this city for a view from fairly high up.

Yes, the original US Bank is a beauty and aside from the green monster, there isn't really a highrise in this city I out and out despise.

[innov8]

There's no observation deck at the Fed Court bldg. All the glass that faces
the south are the walls to the halls if your inside. As long as you don't have
a camera of any kind you can go in the building. The best views are like
ltsmotorsport said on the 15th or 16th... jaw dropping. Also the 27th floor of the Sheraton on
L Street, when you get off the elevator make two lefts and you'll see another
great view of the city.

[ltsmotorsport]

You also see the mechanical crap on top from the north :(

I don't pay attention enough I guess. I just see glass and I'm like :slob: .








;)

[creamcityleo79]

:previous: I gotta agree with neuhickman and brandon on this one. The current US Bank tower is my favorite. You have to love its modern art-deco flavor which I think the architects (Kaplan McLaughlin Diaz) pulled off without it looking forced or cheap.

I think WF center is the most overrated. It just looks a bit plain IMO. I think the size or layout of the widows lacks something I can't lay my finger on. If I had a wrecking ball for a day I would definitely go after Capitol Square:yuck:. Heck with all the windows falling out of it, the building was built so on the cheap by the state it will probably fall over by itself. The least appreciated building definitely has to be the Cal/EPA building. I love the cool glass fingernail on the top. Just wish there was some cool lighting effect on top.:2cents:

Since all is quite on the front lets hear from everyone..

Interesting how it is the Cal/EPA building with the glass top that always looks dirty. Maybe it's the pollution!

[BrianSac]

If I am correct, I believe the Cal/EPA building was supposed to have some sort lighting on the top, for various reasons, costs, "light pollution", or energy savings it was never built or never utilized, like the Ziggurat.

Speaking of the Ziggurat, it is one of my favorites, especially when lite. if only we had a hill to put it on, it would be even more spectacular.

The current US Bank Tower is great because of it's neo-art-deco appearance and the top is great especially when lite, and the two leopard statues outside the lobby are great. The building would fit in nicely in gotham city. Btw, the japanese restaurant on the bottow is good.

I like the Wells Fargo tower for its height, rounded top, huge museum lobby, and of course, Il Fornio....good food is always a plus....and 1,000 foot towers.

Esquire is also great with its "blue line", if only it were twice the height. Emerald's shape and glass are nice, again, if it had 20 more floors it would be even better.

Can't wait for 621 to be done. It just might become one of my favs. I hope the crown is lighted. (dont like its garage though).

I like the Renaissance too....the beer bottle building....for its unique shape, and root beer color.

Sac has many unique buildings that give us a distinctive skyline. We need more in the 700 plus range with lighted crowns that change colors, like the Empire State building. :yes:

[fatchocolatecow]

This is from downtownsac.org

K Street Streetscape Redesign plans scheduled for City Council
04/17/2007

Updated plans for the redesign of K Street will go before City Council on May 29 at 7 p.m. The last public meeting regarding the plans will take place on May 1. The plans have been revised from previous proposals and include the relocation of the RT stop on the 700 block of K Street from its current location to the east side 7th Street, south of K Street.

The plans will call for a phased construction timeline, with initial construction beginning on the 700 block. Featuring updated furniture, fixtures and paving for the pedestrian mall, the design will also include improvements for Cathedral Square and St. Rose of Lima Park as public open space areas.

Public Meeting
May 1, 2007 | 5:30 pm
Crest Theatre | 1013 K Street

City Council Date
May 29, 2007 | 7 pm
New City Hall | 915 I Street

I'm curious how the plan has changed. Hopefully it has not changed enough to resemble past attempts at K street revitalization.

[sugit]

The only part that I think has changed is the moving of the RT stop to 7th Street instead of the 800 block like originally planned....Looks like Mo Moha, I mean SOS, might get what they want.

I'd really like to make the meeting to see what they have planned, but no can do for me.

[aufbau]

There's no observation deck at the Fed Court bldg. All the glass that faces
the south are the walls to the halls if your inside. As long as you don't have
a camera of any kind you can go in the building. The best views are like
ltsmotorsport said on the 15th or 16th... jaw dropping. Also the 27th floor of the Sheraton on
L Street, when you get off the elevator make two lefts and you'll see another
great view of the city.

Thanks! I'll have to check those spots out.

[SacTownAndy]

:previous: Also, though not quite as high up as the spots mentioned above, I've always been kind of partial to the view from atop the parking garage above Brew It Up.

[sugit]

Interesting report from Colliers International...

"Downtown Sacramento Spring 2007 Market Overview (http://www.colliersmn.com/prod/ccgrd.nsf/City/3EA978C01521D9A8882572900055FE55/$File/Downtown+Sacramento+Update+Spring+2007.pdf)"

[SacRising]

Is there an observation deck open to the public? Or must you have some other court related business? I can't find a decent place in this city for a view from fairly high up.

Yes, the original US Bank is a beauty and aside from the green monster, there isn't really a highrise in this city I out and out despise.

When KWOD had their studio on the top floor of the Renessaince Tower, you could go up there and get a really great view of the city from the elevator lobby. Too bad they moved to Madison Ave... corporate sell outs. I bet you could still see the view if you can get past security. Just don't look like a bum and act like you belong there and you'll probably hike right past the securty desk. However, when KWOD was up there, you could look like Kurt Cobain a week after the gunshot and walk right up there without security batting an eye. They would probably just think you worked at KWOD.

My rankings: All flanking Chavez Park
1) US Bank Plaza
2) Western Life...Joie de Vivre
3) CalEPA (LEED Certified is beautiful to me)

Which reminds me...Friday night concerts in the park will be starting soon :drummer: :rock: :thrasher: :leek:

[innov8]

Interesting report from Colliers International...

"Downtown Sacramento Spring 2007 Market Overview (http://www.colliersmn.com/prod/ccgrd.nsf/City/3EA978C01521D9A8882572900055FE55/$File/Downtown+Sacramento+Update+Spring+2007.pdf)"

Phew, that was some good analysis and info... great find :tup:

[urban_encounter]

If I am correct, I believe the Cal/EPA building was supposed to have some sort lighting on the top, for various reasons, costs, "light pollution", or energy savings it was never built or never utilized, like the Ziggurat.


The EPA was built with stunning illumination of it's 'crown', which is energy efficient and costs just pennies to light. But the state wants to avoid the perception of energy waste, so they refuse to turn it on at night.

[BrianSac]

The EPA was built with stunning illumination of it's 'crown', which is energy efficient and costs just pennies to light. But the state wants to avoid the perception of energy waste, so they refuse to turn it on at night.

Geez! You would think they would turn it one once in a while.

They turn the lights on at the Ziggurat during River Cats games why can't they illuminate the cal/epa building.....as he pouts and cries like a baby.

I swear I think I've seen it illuminated once, when the building first opened.
But never again.

I think 621 is supposed to be "spectacularly illuminated". I swear if those "enviro-nazis" complain about that....I'm gonna.....SHI........#$%&@t*;)

[goldcntry]

The key to the Zigg is that while it is tenanted by the State of California, it's actually owned privately. CalEPA is a state building through-and-through... dag-nabbit!

Anyone remember years and years ago when Channel 10 used to have this early Tron-like animation for the start of their newscast? (mid 80's) They always depicted the Emeral Tower as being outlined in green/blue neon... I wish they'd actually do that to my building! It would look striking here on the West end of the mall...

[SacTownAndy]

You can see the CalSTRS tower crane on News10's webcam:

http://www.news10.net/news/gallery/local/roofcam.jpg

[ozone]

Any updates on 500 Capitol Mall's progress?

[innov8]

Any updates on 500 Capitol Mall's progress?

Yes, I have some great shots of the screw pile process that I'll post soon when
I have some time. They have been doing it almost a week now... each pile takes
maybe 20 minutes each.

I'm now lucky enough to be able see the daily goings on out my new office window :)