Living moss wall in the lobby of Q19 (multifamily mixed-use property in Midtown)
S ACR A MEN T O COMMERCIA L RE A L E S TAT E, DE V ELOPMEN T, A ND CULT URE
08 ISSUE SIX
What to do for fun in West Sacramento!
20
Why local always beats national in Midtown!
34
Mike Hargis tells us a captivating story!
TURTON
WRIT TEN, PHOTOGR APHED, AND DESIGNED IN-HOUSE BY THE TURTON TE AM
AUTUMN 2019
1 130 K
UP TO 10 0,0 0 0 SF IN TH E H E ART OF D O W NTO W N SACR A M E NTO! TURTO N CO M M ER CIAL 916.57 3.3 3 0 0 TURTO N CO M.CO M
FAL L 20 1 9
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A n y sembl anc e of c oherence i s p urely coi nci denta l.
ISSUE 6 | AUTUMN 2019
CONTENTS
Analysis of Local Breakfast Burritos
Mural: "Rosie the Revelator" by Lauren Ys (@squid.licker)
It st ill hasn’t gotten o l d, ye t!
KILLING TIME
04
A Common Misconception About Interest Rates
07
How to Buy Art
08
What to do in West Sacramento
12
Ken's Favorite Urban Walks
14
Timeline of a Transaction
18
Analysis of Local Breakfast Burritos
20
Why Local Beats National
25
Neighborhoods of the Grid
31
CRE Glossary of Terms
32
To Bequeath or Not to Bequeath?
34
A Chat with Mike Hargis
39
Bits & Pieces
40
About Turton
Bits & Pieces
INDUSTRY HUMOR Glossary of CRE Terms
To Bequeath or Not to Bequeath?
About Turton Neighborhoods of the Grid
A Common Misconception About Interest Rates
MOVING MONEY
NEW THINGS
Timeline of a Transaction
What to do in West Sac A Chat With Mike Hargis Why Local Beats National
How to Buy Art
ENJOYING LIFE Ken's Favorite Urban Walks
Stats yo u
k for! Didn't as
SINCE LAST ISSUE...
Team lunches at Cafe Capricho: 4 Bike-related injuries: 7 Birds extracted from cubicles: 2 Dogs acquired: 1 Gin handles consumed in-office: 2 Property photos taken: ~7,400
Meltdowns involving the printer: 1 In-office pranks executed: 12 New phrases invented: 3
Requests to borrow lip balm: >15 Debates resolved with emotional appeals: 2 Deals closed: 106
TURTON
SOME WORDS FROM
KEN TURTON - PRESIDENT
24 0 9 L S T R E E T, S T E 2 0 0 , S A C R A M E N T O , C A 9 5 816
PRESIDENT
KEN TURTON
Lic. 01219637
916.573.3300 | kenturton@turtoncom.com VICE PRESIDENT
VICE PRESIDENT
VICE PRESIDENT
VICE PRESIDENT
DIRECTOR
AARON MARCHAND
Lic. 01711650
916.573.3305 | aaronmarchand@turtoncom.com
JON LANG
Lic. 01934934
916.573.3302 | jonlang@turtoncom.com
JOHN MUDGETT
Lic. 01765754
916.573.3306 | johnmudgett@turtoncom.com
SCOTT KINGSTON
Lic. 01485640
916.573.3309 | scottkingston@turtoncom.com
PATRICK STELMACH
BROKERAGE
If you ever get the opportunity to take a multiple day safari in Africa, do it. Aside from the incredible diversity of beautiful, free ranging animals, you can’t help but be mesmerized by the symbiotic relationship between all living things. We recently had the fortune of taking such a safari. So many of life’s complex questions can be answered in the plains of the Serengeti. While lions, cheetahs, leopards, rhinos, hippos, elephants and giraffes are the stars of the show, I was captivated by the relationship between zebras and wildebeest. Zebras are regarded as one of the most intelligent animals in Africa. Wildebeest are deemed less so. Some even go so far as to categorize them as “stupid.” A stereotype earned, as far as I’m concerned, because of their other incredibly noble qualities: Strength, fearlessness, team loyalty, and leadership. Because they don’t watch-andwait, they are labeled unintelligent. The zebra is considered the strategist. The zebra watches the actions of the other animals and makes decisions accordingly. They surround themselves with supposedly-less-intelligent animals who can see and hear predators more easily. The zebra’s favorite migratory partner is the wildebeest. Brutishly strong and fearless, most would say the wildebeest is not as attractive as the zebra. If a zebra needs to cross a river, it simply finds a few wildebeest to test the waters for obstacles and predators. The wildebeest must - and will - cross the river, often getting swept downstream to a point where the river is crossable. Of course, this is also where predators hang out. After the crocodiles are full and several hundred wildebeest have safely crossed the river, the zebras deem it safe enough to cross themselves. And the cycle goes on. I appreciate the zebra. I understand the zebra. But I love the wildebeest. I can relate to the wildebeest. In many ways, our firm is like a herd of wildebeest. See the hill, take the hill. Just because you're a wildebeest doesn’t mean you’ll fail. But some will. Some wildebeest make mistakes, or they are slow or they are in the wrong place at the wrong time, but I’ll tell you what. They are fearless. They are tough. They are strong. They are loyal. They are a team. They give more than they take. And rivers don’t get crossed without them. Midtown and Downtown are full of wildebeests. The commercial real estate industry is full of wildebeest. Without wildebeest we wouldn’t try new concepts and projects. Or explore development in blighted areas. Or lease space to start up ventures. Or start up ventures. Entrepreneurs and developers are the wildebeest of society. I know its admirable to be a zebra. But in our complex first world circle of life, I hope we embrace the great simplistic characteristics of the wildebeest so that future zebras may cross the river.
916.573.330 0
Lic. 01964999
916.573.3314 | patrickstelmach@turtoncom.com
DIRECTOR
ZACHARY HOOKER
Lic. 02013574
916.573.3315 | zacharyhooker@turtoncom.com
DIRECTOR
DAVID MESSER
Lic. 01958185
916.573.3313 | davidmesser@turtoncom.com
DIRECTOR
DAVID KHEDRY
Lic. 02063469
916.573.3303 | davidkhedry@turtoncom.com VP OPERATIONS & MARKETING CREATIVE DIRECTOR
MARKETING ASSOCIATE
BROOKE BUTLER
Lic. 02086576
916.573.3301 | brookebutler@turtoncom.com
COREY LAU 916.573.3304 | coreylau@turtoncom.com
JUSTINE WONG 916.573.3304 | justinewong@turtoncom.com
OUR SERVICES
CONTACT US
Landlord Representation
2409 L Street,
Tenant Representation
Ste 200
Buyer Representation
Sacramento, CA 95816
Seller Representation
916.573.3300
Building Valuations Market Updates Property & Project Mgmt.
TURTONCOM.COM
M A R K E T I N G / O P E R AT I O N S
KEN TURTON
T U R T O N CO M .CO M
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This mat erial WIL L be on the tes t.
D E- M Y S T IF Y IN G A CO M M O N MI S CO N CE P T IO N A B O U T
INTEREST RATES KEN TURTON - PRESIDENT
Clients frequently ask if the latest Federal Reserve rate adjustment will impact their mortgage rates. That question takes a long time to fully answer, but to put it succinctly: no. Rising Federal Reserve rates aren’t necessarily welcome news, especially if you’re in the money markets (such as stocks, bonds, and mutual funds). But, interestingly, there is no direct impact to mortgage rates. All aboard Ken’s school bus! The Federal Reserve rate is used by the Government to control economic growth. In the U.S., banks are required by law to maintain minimum reserves of capital to facilitate short term lending. On any given day, if bank clients borrow enough money, a bank may not meet the minimum Federal Reserve requirement. In this case, banks must borrow capital – they purchase loans from other banks – to meet the minimum standard. The Federal Reserve rate is the interest rate banks charge to lend money to one another. The Government uses the Federal Reserve rate as a financial instrument to regulate the growth of the economy. When the Government wants to entice the economy, they lower the Federal Reserve rate, causing banks to lend at lower interest rates, thus resulting in more lending and economic growth. When the Government perceives the need to reduce business investment, they raise the Federal Reserve rate, which, in turn, increases the interest rates banks will charge short-term borrowers, which are more risky loans than long term ones like mortgages. Naturally, this reduces borrowing, spending and economic growth. A N D N O W, A N I N - O F F I C E S U RV E Y ! Which is the most boring?
Learning about the Federal Reserve rate
Waiting for the train to get through Midtown
34%
42%
16% Scrolling through selfies
8% A sport reporter's analysis
?
Your mortgage rates are more affected by yields for U.S. Treasury bonds. Long term collateralized loans, like mortgage loans, are based upon the U.S. Treasury Bond yields. Lenders, like banks, sell large bundles of commercial / residential mortgage loans to massive investment institutions. These notes are viewed as very low risk. Because of this, they’re compared against the 10-year Treasury Bond yield and purchased at a fixed rate deemed appropriate. The delta between the coupon rate being paid by the borrower and the trade rate purchased by the investment institution is the profit made by the lender. When the Federal Reserve rate increases, investors become concerned pushing them towards investments with less risk and more stable returns, such as U.S. Treasury bonds. The more destabilized the economy becomes, the lower the Treasury bond interest rate. It is not a perfect science because lenders and large package buyers also factor in more risk when the economy becomes destabilized. This risk results in an increased yield spread (which may increase the mortgage rate to the buyer). When you see U.S. Treasury bond rates increasing, there may be some concern. But next time you see Federal Reserve rates increasing, no need to panic about your mortgage! They are not definitively correlated.
QUIZ:
HOW "MIDTOWN"
ARE YOU?
UPDATED FOR MODERN TIMES! Start at zero. Add or subtract points for each answer.
1. WHAT KEEPS YOU UP AT NIGHT? A) The freight train. (+10) B) The thought of moving back to the suburbs. (+15) C) Your neighbor's wellgroomed beard rustling so noisily on his pillow you can hear it through the wall. (+35) D) Looming dread of your long morning commute. (-20) 2. YOUR LONGEST WALK EACH DAY TAKES YOU BY: A) Charming old homes and restaurants beneath a forest of trees. Maybe a few cats. (+20) B) SUVs and cart corrals in a sun-blasted parking lot. (-20) CONTINUED ON PAGE 08
Top: Looking to the sacred real estate Dieties for signs of an impending recession. Changing interest rates usually send a wave of uncertainty through the CRE industry.
T U R T O N C O M . C O M - 9 16 . 5 7 3 . 3 3 0 0
AUTH ENTICIT Y STARTS WITH YOUR OFFICE SPACE 8 30 K S tree t - o f fice / re t ail space for lease - 3,0 0 0 - 6 3,0 0 0 S F available
AUTHENTICALLY URBAN R E TA I L J R E S TA U R A N T J O F F I C E FOR LEASE
916.573.3309 TURTONCOM.COM
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Pe r f ect for t he y oung fa mil y despera te to prove they’re stil l “ h i p” an d “ w i th - i t!”
T HE LO C A L’ S GUIDE TO
HOW TO BUY ART JOHN MUDGETT - VICE PRESIDENT
T
Time to swap out your Cost Plus knick-knacks and Z Gallerie prints for some funky, authentic local art! With countless new murals and public art installations popping up around Sacramento, you may find yourself inspired to bring a little more color into your home. But buying art can be daunting for the uninitiated.
Where can you buy it? Why is this object worth 400 dollars? It matters because it was made by who again? And what the hell is a giclée? And then there’s the whole “personal taste” thing. The art that you like taking Instagram pics with in Midtown alleys is likely much different from the art you feel comfortable putting in your living room or private office. Do you envision styling your art with your furnishings, or your furnishings with your crazy art? And the geometry of a space may also factor into the decision-making process.
Developing an academic appreciation and technical understanding of the massive subject of art means exposing yourself to lots of it. And to find art that truly speaks to you, be sure to enjoy the process of discovery. Visiting the Crocker Art Museum will introduce you to larger works more digestible to a national audience; attending a few classes with Verge Center for the Arts can help you appreciate the technical aspects of creativity; and stopping by local art galleries can put you right in front of the artists. Make your journey into the art scene and see what cool pieces you pick up along the way!
Looking to make a purchase or explore further? Shop local! Whether it be a small print of a digital collage or a massive original oil painting, you'll surely find what you're looking for in the Grid.
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PRINTS
CERAMICS
PA I N T I N G S
SCULPTURES
Support a local artist by purchasing a print at the Midtown Farmers’ Market!
Grab a cool handmade mug or tea bowl at a local coffee shop such as Temple Coffee on K and 22nd!
Find local Midtown legend Robert Gordon making recycled art on the street and purchase a piece for 10 to 50 bucks!
Pick up a one-of-a-kind piece of jewelry at a local studio like Wire Art Ink, Little Relics, or one of the spaces at Art House!
Get excited by prints from local photographers for sale at Viewpoint Photographic Art Center!
Follow a local ceramicist such as @rolinex or @ameliaholtceramics on Instagram and commission some cool custom dishware from them!
Find an up and coming artist whose work catches your eye at the Tim Collom Gallery or White Buffalo Gallery! Or buy a piece from a coffee shop!
Cackle all the way home as you carry your new elegant bronze statue home from Barton Gallery!
Swing by Sparrow Gallery and find a large, high quality print of your favorite local mural!
Visit almost any Midtown gallery, such as The Art Studios, to find that perfect chi-balancing piece for your guest bathroom.
Hire a local muralist like Jeremy Stanger to paint an accent wall in your house after meeting him at a Beatnik Studios event!
Commission a gorgeous, unique piece of furniture by local multi-disciplinary artists Gale Hart or Marc Foster!
Purchase a professional grade giclée of a painting from one of Sacramento’s more established artists at Groundswell!
Attempt to purchase the huge ceramic “Dangos” made by Jun Kaneko in the Bridge District from local developer and art connoisseur Mark Friedman!
Shop for original works by elite Sac artists such as Elliott Fouts, B Sakata Garo, and Jay Jay at their Midtown galleries!
Buy a building with TCRE and turn it into public art! A sculpture that can be enjoyed by everyone!
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S omet imes, w e g et so focus ed on the Gri d tha t we forget a w h o l e c it y e xis t s ac ro s s t h e riv er.
WH AT TO D O I N
WEST SACRAMENTO PATRICK STELMACH - DIRECTOR
A
Ahh yes, West Sacramento: the awkward, failure-to-launch sibling of California’s capital city. Cut up by a tangle of train tracks and elevated freeways, the city did not develop a strong central urban area. And, as a result, it did not develop the identity needed to attract new businesses, young residents, and cool culture. But this is changing! While history hasn’t been as kind to West Sac as Sacramento proper, the narrative is taking a serious tonal shift.
Both the Bridge District and the Washington District of West Sacramento are developing into energetic, walkable, attractive neighborhoods with busy bars and restaurants. Hundreds of new, dense housing developments in the Bridge District - with thousands more planned – are quickly transforming the former industrial site into a lively riverfront. Vacancy rates in commercial properties are
coasting downward steadily and property values have multiplied drastically. And you know what? It's pretty nice here. West Sac is growing into our concept of “The Grid” and establishing itself not only as a cool place to visit, but also to reside in. Here are some of the most unusual, curious, outdoorsy, and even bizarre experiences that can be found on the west side!
Low-hanging fruit - the stuff everyone knows about
River Walk Park Stroll along the waterfront and check out the art installations, like the interactive sculpture, "Subtile" by Frederico Diaz, shimmering in the wind. Broderick Roadhouse The OG burger spot with a rustic biker-bar aesthetic, yet welcoming atmosphere.
Raley Field Catch a game, enjoy a $1 hot dog (if it's Tuesday), and gaze at a beautiful sunset over the Sacramento skyline. West Side Cafe Grab yourself a cold brew and Westside Waffles at this new concept from Identity Coffee. Also has prime avocado toast.
Breweries galore! Bike Dog, YOLO, and Jackrabbit, all famously-good local breweries, are located in West Sac! Burgers and Brew Historic Washington Firehouse renovated into a lively restaurant serving - you guessed it - burgers and brew.
Drake’s: The BARN A beguiling architectural structure is home to Drake’s beer tap house and PizzaSmith. Sip on their highly-regarded beers and scarf down pizzas on their expansive outdoor patio.
QUIZ CONTINUED FROM PAGE 04
3. GETTING DRESSED FOR WORK, YOU: A) Slip on a pair of fitted pants and a tasteful button-up or sweater. (+10) B) Step into your cavernous “classic fit” suit and risk getting blown away by a freak wind gust. (-20) C) Roll up one pant leg. (+25) D) Stare into the mirror and decide you don't want this life anymore, ultimately deciding to form a band and busk at farmers' markets. (+15) 4. DO YOU YIELD AT THE ROUNDABOUTS IN BOULEVARD PARK? A) Yes. (-10) B) No. (-10) C) They aren't roundabouts, but "traffic calming circles." (+30) QUIZ CONTINUED ON PAGE 29
Relevant stats from our staff! How many times a month do you visit West Sac?
4+ 25% 2-4
50% 25%
n=12
0-1
Far left: Drakes: The BARN serves us a frosty IPA. Left: The 10:00 AM crowd at West Side Coffee, a new concept by Identity Coffee. Top: The River Walk Trail water tower. Right: The Habitat Apartments on the shores of the Sacramento River.
L E A VE Y OUR M A RK 21st & T - 425 G St - 714 14th - 2816-2820 D St - 2227 10th St - 2737 Eastern Ave - 4330 Watt Ave - 2330 Lexington St
LAND FOR SALE
TURTON COMMERCIAL - 916.573.3300 - TURTONCOM.COM
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A N O T H E R I N - O F F I C E S U RV E Y !
More obscure / off-the-beaten-path activities
Where do you go for beer in West Sac?
Broderick Roadhouse Raku Sushi An unpretentious sushi house in a strip-mall offering a surprisingly delicious sushi buffet for $14.95 Mon-Thu and $15.95 Fri-Sun. Riverwalk Farmers’ Market Pick up this week’s groceries by the river in front of the CalSTRS building - the view of Downtown Sacramento here is as good as it gets! Lake Washington Sailing Club An association dedicated to small boat sailing, buoy racing, and windsurfing, for boat owners and beginners learning to sail. Sacramento River Train Step into another era and enjoy a nostalgic train ride through the Sacramento countryside, offering a variety of themed train excursions, including the pumpkin train, Christmas train and the train heist re-enactment.
Barge Canal Trail 6.6 mile out and back trail near the Sacramento River Deep Water Ship Channel - great for hiking, walking, trail running, bike riding and nature trips. Bat Talk and Walk Watch the largest colony of Mexican free-tailed bats in California fly out from beneath the Causeway. Catch one of these educational events before the end of the season! Shamrock’n Half-Marathon Taking place on March 14-15, 2020. Like other half-marathons, this is a great option for inspired runners who aren’t into dying of exhaustion! Dave’s Pumpkin Patch / Cornival at Vierra Farms One thing West Sac has that Downtown doesn’t is a pumpkin patch. Pick a local pumpkin, hop on a hay truck ride, and get lost in the corn maze!
Urban Farms The West Sacramento Urban Farm Program converts vacant lots into urban farm business incubators. West Sac has 13 urban farms, including 2 in The Bridge District and 2 in the Washington District, with over 600 volunteers per year, growing over 25,000 of pounds of produce per month for Food Banks, residents, School Districts, and local restaurants. Yolo Causeway Bike Path An 11 mile bike path from Downtown Sac, through West Sac, and into Davis. The route parallels busy Interstate 80 over the Yolo Bypass floodplain, making for a loud and windy trip with heart-stopping excitement! Play Pokémon Go It may not be your thing, but that's okay! West Sac is known for having some of the most competitive Pokémon gyms in the area.
Farmstand at The Barn Open on Thursdays from 4:00 to 6:00 PM, this small produce stand specializes in kale, squash, and leafy greens. Open into early October. West Sacramento Recreation Center Locals absolutely love the rec center, complete with a swimming pool, gym facilities, dance and yoga classes, tennis courts, and basketball courts (once in a blue moon, you can catch a Kings player). West Sacramento Cyclocross Grand Prix October 19-20, 2019. Exciting race of bicycles that are a hybrid of mountain bike and road bike, racing around a circuit in River Walk Park, featuring grassy steep hills and obstacles. Waterfront Yoga on the Mill Street Pier Sundays at 10:00 AM from May to September. Come get your Zen on right by the water!
Burgers & Brew
8%
8%
84% Drakes: The BARN
INTRIGUING
WEST SAC DATA Specifically, data about multifamily properties in the Washington District and the Bridge District!
Asking Rent per SF
Source: CoStar (2019)
$2.40
~$2.30 / SF
$2.20 $2.00 $1.80 $1.60 2010
Average Rent: Studio: $1,476 1 Bed: $1,562 2 Bed: $1,867
2014
2018
$54.5M Spent on food and alcohol here annually
Left: Part of Fulcrum Property's huge infill development in the Bridge District. Above: Federico Díaz’s "Subtile" sculpture with 4,000 steel discs that move in the wind. Below that: Fresh produce from the River Walk Farmers' Market.
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Fu n f or t he w hol e f a mi ly! Yes, even gra ndma !
MY FAV O R I TE U R B AN
ONE MILE LOOPS KEN TURTON - PRESIDENT
One of the best things you can do in our city is walk through it. Sound daunting? Start here! I walk and talk a lot. A third of my day is spent on the phone having long discussions. And while I talk, I like to walk – thankfully, Sacramento’s great for that. On any given day, I may clock three miles of urban sidewalks. By now, I’ve strolled almost everywhere in the Grid. And one thing
is certain: not all walks are equal. Each block you amble past, the side of the street you choose, and every turn you make builds a new urban story made just for you. So, where should you walk? Below are a few of my favorite 1-mile loops in Sacramento.
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1. Tourist Loop Passes the Tower Bridge, Old Sacramento, DOCO, the Golden 1 Center, and the high-rises on Capitol Mall – all the Sacramento classics.
5. Southside Stroll The park is lively and immersive – you forget you’re in a city. And, if the season is right, you can pick ripe oranges from the old trees lining the nearby streets.
9. Quiet Loop Perhaps the most calming mile you can walk in the Grid. Low traffic, no stoplights, and the city’s thickest tree canopy. Fog seems to linger here after it burns off elsewhere.
2. K Street Meanderings A solid survey of K Street’s numerous restaurants which also gives a close view of the State Capitol building and City Hall.
6. Fremont Loop An exciting walk which takes you through R Street’s hottest strip, through the Ice Blocks, across Fremont Park, and down the well-shaded 17th Street.
10. Central Midtown Saunter Passes Midtown’s wildest bars, including Faces, LowBrau, Kupros, Golden Bear, Flamingo House, Der Biergarten, and The Merc. This walk is best taken after working hours.
3. Capitol Park Promenade A peaceful, well-curated park which features a rose garden, cactus patch, and a specimen of nearly every tree found in California.
7. Tour of New Developments Close to the Fremont Loop walk, this route passes nine new developments (which is maybe more interesting to us than most).
11. J Street Hike Goes by dozens of really, really good restaurants on the main drag of J Street. Also takes you past the ponds full of ducks and turtles at Sutter’s Fort.
4. Handle / Nightlife Walk Sure to be extra lively after 5:00 PM since it passes some of the city’s most popular restaurants, cutest coffee shops, and classiest clubs.
8. The Boulevards A serene walk through a beautiful neighborhood characterized by ornate homes on large lots, huge trees, and large boulevards with grassy central medians.
12. Residential Roamings Another peaceful route which will introduce you to the wild variety of both architectural styles and people present here in Midtown.
TURTON COMMERCIAL - 916.573.3300 - TURTONCOM.COM
1920 20 T H S T REE T OFFICE FOR S A L E
$4,500,000
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Great f or v isu al l earners !
CO M M E R CI A L R E A L E S TAT E 101:
TIMELINE OF A TRANSACTION JON LANG - VICE PRESIDENT
Begin here!
S
So, you wanna buy a commercial asset and don’t know what to expect, right? Well, you’re not alone. Commercial real estate transactions are complicated and usually take significantly more time than their residential counterparts. What does a transaction even look like, you may wonder? Lucky you! To help you navigate our confusing industry, we’ve created a timeline of an imaginary building purchase!
Day 1 Choose your guide for this journey Your first priority is hiring a commercial real estate broker. If you’re buying a building, this doesn’t cost you a thing - so why not? Interview multiple firms and choose the broker with the most market knowledge, most completed transactions in your market of interest, or just the firm with the best commercial real estate magazine. These deals are hard – don’t go it alone.
Day 10
Day 14
Make a plan
Let’s check the market
Okay, now you’ve hired your broker. If you chose Turton Commercial, good choice. If you chose another broker, we’ll still be here when the results are lackluster. Meet with your broker and discuss your commercial real estate goals. Where do you want to buy? What can you afford? Are you trying to drive revenue with your space or save costs on it? Here, you formulate a plan moving forward.
Now that we understand your real estate objectives, let’s hit the market to see if anything looks interesting. All brokers have access to marketed properties, though, and they get a lot of offers. That’s why you want access to the off-market opportunities which will be less competitive and lower-priced. Totally understandable. Luckily, off-market knowledge is our specialty. And we have more than any other brokerage firm in Sacramento. Let’s spend two or three weeks touring a few properties.
GENERIC DEAL TIMELINE! 1
Day 21
25
Days 35-41
What can you afford?
Submit an offer
While we look at properties, it’d be prudent of you to speak with a commercial lender. Determine what you can purchase and familiarize yourself with current loan terms. For example, did you know that commercial interest rates are fixed for a maximum of 7-10 years, unlike 30-year residential loans? Also, consider a Small Business Administration (SBA) loan if you are going to occupy the commercial property – these loans are more attractive. Your broker will provide lending referrals.
Awesome! You’ve found a building you like. For some buyers, this happens immediately. For others, this could take months, even years. Submit an offer to purchase the building. Your broker will draft a non-binding letter of intent (LOI) on your behalf. A negotiation of deal terms begins. We’ll walk you through the terms and explain any words, clauses, or processes that are unfamiliar.
Days 42-51
50
Day 52
We’ve agreed to terms - let’s put it on paper
Sign the purchase / sale agreement
Now the parties meet and transpose the agreed-upon deal terms into a binding purchase agreement. This negotiation process can be quick or take up to two weeks. We encourage having an attorney and CPA explain the legal and tax consequences of signing this specific agreement.
In this case, it’s taken ten days to review the binding purchase agreement. Let’s sign it already! You are now in contract to purchase the building and we’ll open escrow accordingly.
H I G H - E N D R E TA I L S PAC E S AVA I L A B L E ! Turton Commercial Real Estate - 916.573.3300 - turtoncom.com
TURTON
916.573.3300
TURTONCOM.COM
T HE
DID I O N Brand New Luxury Mixed-Use Property in Midtown!
$ 6,9 0 0 , 0 0 0
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Left: Part of the TCRE team gathers to look over renovation plans in the old Crystal Ice building. Right: Jon Lang talks to you on the phone about your next transaction.
Day 55
Days 55-96
Send in your deposit Time to make your earnest money deposit. This is usually 3-5% of the purchase price. The deposit remains refundable until the physical and financing contingency periods expire.
Scrutinize building during physical and financing contingency periods You’ll likely have 45 days to inspect the physical condition of the building and secure a loan for the buildings. It’s expensive - be prepared to hire a building inspector, general contractor, engineer, or architect to review the physical condition of the building. This process may cost you $3-5,000. And during the loan process, you’ll need to order an appraisal and Phase 1 Environmental Report. Together, approximately $5,000.
Day 97 All good? Let’s waive contingencies Satisfied with the condition of the building? Secured your loan? Great – let’s waive both contingencies. But be wary: if you walk away from the transaction after this, you will relinquish your deposit to the seller.
- Roop Purewal Sacramento CRE Attorney
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Days 97-126 “This is a long-term investment, so make sure you trust who you are working with. Also, make sure you have more than one bank working on your behalf. This will give you options and force the banks to work harder for your business.”
- Nicole Sayers Sacramento CRE Lender (Opus Bank)
“Be sure to properly analyze the property and make sure it fits your objectives. Most importantly, start off with the commonsense factors like location and demand before getting into the more time-consuming due diligence items.”
Day 125
Closing period
It’s signing time!
Use this 30-day period after waiving contingencies and before closing escrow to prepare for commercial property ownership. Line up your contractors to work on the building to minimize down-time. Change your stationary to your new address. Alert your clients of the new location, and where to park. During this time, your lender will be drafting loan documents and escrow will be finalizing closing statements and documents.
Head to the escrow officer’s office to sign loan and closing documents. Bring a cashier’s check with funds to close escrow. If you’re out of town, you can sign via mobile notary.
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Day 127 You now own a commercial property! Over four months later, you are now the proud owner of a commercial real estate investment! It was a seamless transaction, and you should be very pleased with your purchase. Don’t forget to depreciate your investment, thus reducing your overall tax liability, over the next 40+ years. Enjoy your asset and solid rate of return!
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Not a substitu te f or the rea l-li fe, i n-pers o n experi ence!
AN AN A LY S I S O F M IDTOW N' S
Pictured in background: The Zeppelin-sized entree served by Jim-Denny's.
BREAKFAST BURRITOS COREY LAU - CREATIVE DIRECTOR
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While New-Mexican in origin, the breakfast burrito has become a Californian staple viewed in some local circles as a defining cultural commodity. And Sacramento rolls some MEAN ones. No matter your taste in breakfast burrito, you can rest assured that, somewhere in the city, a griddle is slingin’ exactly what you’re craving. For your benefit (and to the detriment of our gastrointestinal tracts), we’ve conducted a highly pragmatic survey of the Grid’s options!
Columned
Salsa quality: Med-low
For lovers of hash browns, Jim Denny’s is breakfast burrito paradise. This greasy, OG burger shack cranks out some big bois. How big? Three meals big.
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La Garnacha
Price: $8.99
Size: Large
WHAT MATTERS MOST IN A GOOD BREAKFAST BURRITO? How do you measure a breakfast burrito? We gave our coworkers 12 points to distribute amongst qualities they value most in one and averaged them. Each quality maxes out at 5 points. Ingredient distribution
n=8
Jim-Denny’s
Price: $10.59 Size: Massive
Dataphilia:
Fast food eggs
Fresh eggs
Meaty/greasy
Light/crisp
Papery tortilla
Bold tortilla
Still hungry
I need a nap
Columned
Salsa quality: Medium
Intended for the starving drunk, this breakfast burrito has earned a reputation as a gut-buster which, much like alcohol, borrows happiness from tomorrow with each bite.
Evenly-spread
Evenly-spread
Fast food eggs
Fresh eggs
Meaty/greasy
Light/crisp
Papery tortilla
Bold tortilla
Still hungry
I need a nap
4.00
Satiation Value
1.5
2.25
Tortilla Quality
.75 2.00
Egg quality
Freshness
A troubling burrito dynamic:
INGREDIENT COLUMNING Rice / eggs Beans Meat Cheese Greens Salsa
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N Street Cafe
Price: $5.50
Evenly-spread
Salsa quality: Med-low
Fast food eggs
Fresh eggs
Alfalfa sprouts and eggs dominate this bright and fresh burrito. While that’s creative, it may not jive well with serious afficionados seeking a more stomach-leadening experience.
Meaty/greasy
Light/crisp
Papery tortilla
Bold tortilla
Still hungry
I need a nap
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Size: Small
Columned
Capitol Garage
Price: $7.50
Size: Med-large Salsa quality: High
Suffering from ingredient columning and a low-quality tortilla, this burrito didn’t seem to have much going for it. Still, this one is considered highly agreeable by our investigative team.
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Harry’s Cafe
Price: $7.50
Size: Med-large Salsa quality: High
Surprisingly this one came with very little potatoes and meat, leaving our stomach’s asking, “Is this gastric marathon finally over?” Oh, sweet stomach, it's only just begun.
Columned
Evenly-spread
Fast food eggs
Fresh eggs
Meaty/greasy
Light/crisp
Papery tortilla
Bold tortilla
Still hungry
I need a nap
Columned
Frequently overlooked by burrito connoisseurs, the concept of ingredient columning refers to the poor dispersal of internal ingredients. How many times have you bitten into a burrito only to receive a mouthful of cold jack cheese? Or worse - a tortilla-diaper of lettuce and salsa? This is the result of ingredients being placed on the tortilla in neat, parallel lines before being wrapped, creating long, isolated silos. A proper distribution can be achieved by creating flat layers of ingredients on top of each other before wrapping. End ingredient segregation!
Evenly-spread
Fast food eggs
Fresh eggs
Meaty/greasy
Light/crisp
Papery tortilla
Bold tortilla
Still hungry
I need a nap
Above: While fiercly loyal to our usual favorite spots, we very much appreciated the uniqueness of N Street Cafe's sprout-filled breakfast burrito.
Urban Retail Spaces for Lease
B E T HE V IB E MARRS | THE HARDIN | THE PRESS BUILDING | THE BEL VUE | Q19 | O1 LOFTS 830 K | 730 I | 2604 J | 330 12TH | 716 10TH | 2220 J | 1617 18TH | 1930 H | 4801 J | 1600 H
TURTO N CO M M ERCIAL REAL ESTATE - 916.573. 33 0 0 - TURTO N CO M .CO M
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IN MID T O W N , L O C A L B E AT S N AT IO N A L B E C A U S E
SUBURBANITES DON'T LIVE HERE BROOKE BUTLER - VP OF OPERATIONS & MARKETING
Well, to put it bluntly, locals don’t want predictable, “safe” retail experiences. The people who live in our urban core usually prefer lunch at a funky café in an old craftsman home over Panda Express. They want their coffee from an artsy local roaster instead of via Starbucks drive-thru. And they’ll look at you funny if you suggest dinner at Claim Jumper on J Street. People subconsciously build their “ideal self” through the collage of retailers they visit. And, after absolutely no scientific research, we’ve deduced that big corporate retailers avoid the Sacramento Grid because the psychographic profiles of the people here are those averse to mass-produced, non-authentic experiences. We aren’t talking about demographics here but psychographics – what are people’s activities, interests, and opinions? How do they differ between those living in the suburbs
Right: Visiting the highly-regarded local cafe called Temple Coffee on 22nd & K Street is an experience more rich than getting coffee from a chain.
I prefer small local businesses because I feel that shopping local directly benefits our community and economy. It supports jobs and creates products more tailored to Sacramento’s unique culture. Also, they're more interesting spaces to be in."
- Caitlin Hayes
Downtown resident
versus the Grid? Suburbanites value safety, neatness, and predictability. Chain stores offer a sense of mental safety because they’ve been marketed to them for years and have clear, spelled out value propositions. There is no uncertainty surrounding what product or service patrons will get. Unoriginality is okay with these folks because it means consistent results. Those living in Midtown and Downtown are a blend of what I see as Yuppies, Hipsters, and Authentics. Their common denominator is that they all value discovery, surprise, and originality. They’re seeking an experience when they visit local retailers – whether that be a spoken word show in the venue, a highly-Instagrammable mural, or just an energetic street scene on the patio. It’s good as long as it’s real and unique from everywhere else.
A QUESTION FOR OUR CO-WORKERS! How many days since you last visited a big national chain restaurant? Percentage of respondents
Y
You won’t see a Burger King in Midtown. Nor will you be able to locate a Home Goods. And good luck finding a Sizzler down here. Large national chains aren’t very common in the Grid – instead they flee to strip centers in the suburbs while small restaurants and cute boutiques line the streets of Midtown. Why is this?
50% 40% 30% 20% 10% 0%
0-2
3-7
7-14
15+
SURVEY OF RANDOM MIDTOWNERS! We asked random Midtowners which psychographic profile they fit. Naturally, most people think they're Authentics.
n=25
Authentic
56% Hipster
8% 12%
Yuppie
24% Suburbanite
OFF-MARKET PROPERTIES
R T H N C U P Z R V T E V B C U Z Z E K P D L M F B N Q J H X G Q K H R K L V G O F V S E H G V B L
Z K C S X A K V Q S V F C D X N Y R D E Q U W O N V N D B G N G Y E J K S Z P Y B Z K A F I I H V R
J T I Z F E C Q E S H S W G P F N R V Y A R T R B B C E L Q S S N S H B G V G U X W F F K D Z I S P
T Y F G T B Q C Z W X I Z T B N G K U H J L S I A P N G V L V Z J Y C B S F P S Q Z U Q I M T Q U N
Z G O C N N Q H O D C E L T D M Y I U I A W C Q U M B N F E S S T E H T R D H E G V Q F Q T D D C F
L Y R W K K H L K K W Y X W A I X Q O M G Q M I Y U Q T U A X P O J P T R D C A B T K U I Y B F S W
F O H Y N V A I R W D O R W X K N D P E L Y O C S O A M R G I V B X D R I A D A R Y H E O K I P L X
Y N I L O D N S L U N W V T U L A E L O E H Q T M E O C B Z Z N Y B F M U E D W H A H G M N I Z U C
O J O U W Q D R Q M E P G Q T P R P J D L W Q O A A Z B A P W R O Q L B B V T K W M E B V I J V S F
R N B F H H P A V I D Y U T J Z P B Q P R O J D L T Z A G Y K G P P C E G I V R W A U L I I O E G W
W I H U I N X B S P E A K Q S V T K I H P S V D Q I X F S A G I U P W Q V S T P R T G Y I E S T U C
F Q D E X D U M S O E J Y I Z Y L D V X U P J V S K H K V E N B S C N D Z E A Y C X J U D P Y O Y E
G K D Q A V V P D Q A P J P H U E T Q F P E D W Q V T U I U T M V O D S N R X I Z F J C A A I H W J
F D P T L Q B Q Z A G N G D N C A W V G H F A Y X Z A B U D N X J D K R T K A R W V G O N T T M X G
N C B O J D B B Q R Z S Z G V N Y C Y T T O O S T V Z R F H T J Z H G A T T N F Y H Y A S T U Z R O
P H V H P S R C Z C O I R S V I V R Q H O D D J B H L R M H S X R N Y R D R A K Z L G O G V R N H F
I J Z N P A G C F S S X Y A I P O M P S Q Q B U Q Z G I D D E Z H D L F H W F C P H Y Z Y B T P D Z
I L J Q W I W G E S Y K P M W D P A B W O T X Z X B U W Z K L O G B Q A Z F Q F L Z Y R A V O C H M
I X G H W M R B D Z Y X X Q Y H H E K Y A K C R X D W H S B Q M X Y C M U N N L E K A T O E N N A W
F I I Y D S B S S E T G A L P M U H F B S H J Q L C P X Q L L W J D Z Z E D T P O B W I D O C Z W O
Y N X G G W Q V U S B Z Z F G I Y K G V T H C P J X V P X H J P C Z X L D L G E K W X V H U O F B P
R Q Z U J G B S L H M X R Q U W U F Y N S X V T H R I M L I A J E T A Z W W D A U A A P F T M V E F
Y Q R J D J A G O L V L L W D Q Z W G A L S K X C T X P G E S I E Q B U F R N Z Y E B X Q D M C V C
N G L R A G I A Z H V V I R B B Z O F W E B L K Z K X W P S B U X R S M X J O B X E H S G U E R J Q
R K L L U G B T Q A V V L B O X N V V N J X D E N U B L N A B R V X Y U E O O U P K J R F B R U W G
P D S C N S L V J P M Y I A W H V L U J F G W M X V N D H P Q Y E S P R H E E W S X P P T N C B A R
H A I P M P J M U F K B N K H A A X I G B N V L K Z Z K W D A K U Q O V K A M V Z Z T M A O I T R U
K S X P A Y D Q M I W J F I E A X P K I G U P W X P X I N R U J I E E O A Z M T S O C J F M A U V S
L O Y F V A O Y P D Y P P Q R R X M Z D M V S B J P I L Q W J W F A F R W A O G T D J T N J L R K Y
H G W Q Z S N D A V W R P A E I Q H J Y Z N J M P P B V J K L U P L A D H D Z A T L V I T T R T 9 E
O W H U H Q T V D D J P P M H J A Z T J Q V C Y T K O I Q Y Q M G O Q J J K Z B S K T U P U E O 1 Z
U S C U D W O W T A X I Q X R D A R Y K Z M Y H T L T X L U G G C O Z H L E P F L E I E Z L A N 6 K
S H L M N I X T K V D W P L M I R Q K R D Z N K M A H C H F G B O K Z G C U R S C P C G S V L C 5 H
K J G M A X T P I K E L Y Y P M G X K E R R Z X O R V B K I F B Z S S H L B N I N H I K Z K E O 7 C
O Z X O K F H D L M Q A W Y H N K K Z K Y P N K E J R J Y M H Q A A D V M E C I E S G X B V S M 3 P
A J K B J E N K I Z P K J K B X E D P N K U X X R B O S R P J J A E G R R S L H V I H X O J T . 3 V
W J G E D R L A F N W V G T H M H J S A I J E N L V S Y R T V E F Q M G U E V E X R M H K A A C 3 O
Z C Z B N L C K M A C J T V K Z H T X E A R O V U N F W O F D I W H Z A K L F E O Z V W Q C T O 0 Z
B D N F Z G Q B S U U D Q Z H N A C K L E K J E I E N B U S Z G B J C K S R N J A E B A T B E M 0 Y
E A N Y L J L Q R R N L P I V S J M P O D H X E B Y Z R I P I P I C I Q T E U N R P A Q P A L L X U
TURTON
1630 & 1616 I STREET
C R E ATI V E O FFI C E O R R E TA I L FO R LE A S E - 9 1 6 . 573 . 3 3 0 0 - TU RTO N C O M . C O M
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Illustrations by Sacramento artist Caroline Dale (@rolinex)
MIDTOWN'S
raphic Psychog tereotypes! S
The Midtown ecosystem is highly diverse and biologically active. And, each day, a mass migration of Suburbanites brings waves of visiting herds through lands less familiar to them than their heavily-subsidized hillside retreats. Here's a peek into the psychographic profiles of those who live here versus those who don't!
Lives in Midtown
YUPPIES
Preferred coffee:
Can be found at:
Favorite event:
Things they do:
AUTHENTICS
Lives outside of urban core
HIPSTERS
SUBURBANITES
Latte from Temple
Black coffee from Milka
Pour-over from Insight
Some sort of caffeinated milkshake from Starbucks
Beast + Bounty Kru Zocalo Revival The Bank 58 Degrees & Holding Co West Elm
Bon Air Market / Deli Drunken Noodle Midtown Sushi Old Tavern Mercantile Saloon Streets of London Easy on I Sunny’s Market
Fishface Poke Bar Kupros Sac Food Co-op Golden Bear Bottle + Barlow Der Biergarten Shine Café Free Style Clothing Exchange Beer’s Books
The Old Spaghetti Factory PF Changs Buckhorn Grill Yard House Goldfield Trading Post The Firehouse Barwest Urban Outfitters Parking lots
Farmers’ Markets
Thanksgiving, when every-one leaves
2nd Saturday / THIS is Midtown
Concerts at the Golden 1 Center
N Banter about art and real estate while playing Bocce Ball at The Federalist. N Say, “Yep, full Labra-doodle” rather often. N Eat a relatively large number of salads.
N Run into old high school friends at the corner market. N Use the light rail system without posting about it on the internet. N Sell homemade art from their front patio.
N See Tinder Matches they never talked to in yoga classes. N Talk smack on how everyone goes to LowBrau. Then, whenever friends visit, take them there. N Hang out in open art galleries but not buy anything.
N Wear sunglasses while they order food. N Have someone get out of the car to help them parallel park. N Ride JUMP Bikes really fast on sidewalks. N Question the safety of laughably-tame alleyways.
of e c i r p d r REco
580 oot! f e r a u q s per
$
MORE URBAN MULTIFAMILY PROPERTIES AVAILABLE!
SOLD The Q19 Apartments
TURTON COMMERCIAL - 916.573.3300 - TURTONCOM.COM
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O h . . . . Yo u l iv e in THAT p ar t o f to w n.
T HE Q U A S I - O F FICIAL FIELD GUIDE TO TH E GRID’S RE S IDE NTIA L
NEIGHBORHOODS ZACHARY HOOKER - DIRECTOR
Neighborhoods of the Grid
V Variety is the spice of life, they say. I'm not sure who "they" are, but I think they're right! And luckily for us Sacramento residents, variety is a defining part of our days. The city is beautifully diverse - each corner of town has it's own unique character and vibe. While all of them share common denominators (robust tree coverage, mix of vintage and modern homes, etc), there are clear defining traits which set each neighborhood apart.
Alkali Flat / Mansion Flats
Below: New homes in Alkali Flat in a community called the Creamery built by Black Pine. Bottom: Shine Cafe in Alkali Flat is a gathering point for the neighborhood. Catch a live music show on Friday nights!
Downtown
Boulevard Park / New Era Park
Midtown Proper
Southside Park / Richmond Grove
Poverty Ridge / Newton Booth
AV E R A G E R E N TA L P R I C E F O R A 1 - B E D R O O M U N I T
Alkali Flat / Mansion Flats: $1,110 Boulevard Park / New Era Park: $1,245 Downtown: $1,627
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Source: CoStar (2019) Midtown: $1,338 Southside Park / Richmond Grove: $1,137 Poverty Ridge / Newton Booth: $945
Alkali Flat / Mansion Flats
Common: Getting confused by the two parks where streets should be Uncommon: Seeing large groups of young people walking around Top 3 Amenities: Milka Coffee, Shine Café, Jim-Denny’s Hidden Gem: The jungle gym at Muir Playground
This up-and-coming part of town is characterized by janky but charming bakeries, coffee shops, and thrift stores. New residential developments are promoting growth in this area’s historically low-key retail scene. An equal number of old
Victorian homes and modern ones are blended against an impressive view of Downtown. Traffic is very quiet outside of rush hour. This area is known to be a bit rougher around the edges, but new developments are changing that impression.
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M O R E DATA A B O U T H O U S I N G I N T H E G R I D !
Vacancy rate: 3.9% Market rent / SF: $1.98 / SF Market cap rate: 5.0%
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Average annual rent growth: 4.8% Source: CoStar (2019) Estimated 5-year pop. growth: 7.2% Average HH income: $80.8K
Boulevard Park / New Era Park
Common: Meeting multiple friendly local cats on your evening strolls Uncommon: Hearing the Brew Bike Top 3 Amenities: Old Soul at the Weatherstone, Bon Air Market, and quick river access at Sutter’s Landing Hidden Gem: Anything from Moxie
Top: Boulevard Park is home to the city's most regal vintage houses and tallest trees. Below that: The bartender at Flamingo House whips up something special for us. And below that: Standing room only at LowBrau on a sunny 2nd Saturday. Bottom: Locals at LowBrau saluting the fact that they can get as drunk as they please because they can walk home. Right: The Bank (new food court), the Sacramento skyline, and the interior of Tiger on K street.
Just outside of the action, this quiet, shady quadrant packed with gorgeous historic houses is considered one of the best places to live in the Grid. It’s less dense than other parts of town, but home to a wildly diverse mix of young professionals, funky artists, and established fam-
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ilies. Lush flora lines the sidewalks and roundabout circles (which feature chairs in the middle). Legible bike lanes and low vehicular traffic beneath Midtown’s thickest, shadiest tree canopy make this area highly bikeable. And neighbors say hello here.
Downtown
Common: Seeing professional, attractive legislative workers who make you feel horribly under-dressed Uncommon: Finding street parking with ease Top 3 Amenities: Punch Bowl Social, Ambrosia Café, huge farmers’ markets (at Cesar Chavez and Cap Mall) Hidden Gem: The ornate chess board with two chairs in the moody study of the Citizen Hotel lobby
State workers and urbanites in mid-rise apartments are scattered amongst large government office towers. This area is densifying as investment pours into Sacramento. Parks here seem to host XOSO softball matches and intense pickup basketball games almost daily. Lunch spots are this area’s strong point – great coffee shops, cafes, and
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delis are abundant, but all of them close well before the sun sets. In the evening, the energy concentrates around K Street, DOCO, and the Golden 1 Center, where rowdy Kings fans and pop concert pre-gamers from all over the region come to get their taste of the city. This is arguably the region’s nightlife epicenter. And traffic isn't nearly as bad as some say.
Midtown Proper
Common: Unexpectedly getting lured into a taproom where you demolish a full stein of beer and an order of garlic fries before leaving Uncommon: Getting bored Top 3 Amenities: Cluster of bars/clubs at 20th and K Street, 2nd Saturdays, the Midtown Farmers’ Market A SURVEY OF RANDOM SACRAMENTANS!
Hidden Gem: The fried cauliflower bites at Old Tavern
Which part of the Grid do you most want to live in?
Midtown Proper
All others 8% 60% 32%
n=25
Downtown
The cultural epicenter of Sacramento. Midtown is home to the city’s best restaurants, coolest bars, and most eclectic shops. Successful small businesses in creative office spaces bring a ton of young, progressive professionals into the area in the daytime. At night, more young people crowd the sidewalks
as groups hop from dinner spot to taproom to dance club. Art galleries are almost as abundant as murals here. Apartments of all types mix together here: renovated Victorians and 70s-era apartment buildings are common - so are studio units above restaurants. The street scene is active and loud at night.
$10,995,000
46,941 SF OF URBAN O F F I C E SPACE FO R S A L E
1300 U Street, Sacramento, CA 95814
Near the R Street Corridor!
TURTON COMMERCIAL - 916.573.3309 - TURTONCOM.COM
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Southside Park / Richmond Grove
QUIZ CONTINUED FROM PAGE 08
Common: Finding rad furniture at the Second Sunday Antique Market under the freeway Uncommon: Running out of dining options Top 3 Amenities: The R Street Corridor, adjacency to riverfront, and huge amounts of public park space Hidden Gem: Wing Fa Market
Being adjacent to Downtown, this area is a pass through for several high-traffic one-way streets, but the old-growth tree canopy provides solace for joggers commonly seen trotting toward Southside Park. New townhomes and row houses
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are peppered across an area mostly dominated by older apartments and quadplexes. Art studios co-mingle with old school Chinese restaurants, decades-old dive bars, and creative offices. Folks here tend be slightly older than in places like Midtown.
Poverty Ridge / Newton Booth
Common: Having an internal debate about whether to shop at Safeway or the Food Co-op (Food Co-op, obviously) Uncommon: Making it two days without the light rail holding you up at R Street Top 3 Amenities: Sac Food Co-op, Localis, Temple Coffee Hidden Gem: Round Corner
Poverty ridge is not host to much poverty – in fact, it’s one of the highest concentrations of homeowners in the Grid. This area’s slight elevation variations adds a layer of intrigue to the street scene. Large, old trees keep the roads cool for the constant stream of cyclists coming down T Street. Architecturally, this
corner of town is associated with craftsman cabanas, clean bungalows, four-square quadplexes, Victorians, and even some Tudor-style homes. Neighbors run into each other at vintage clothing stores, corner markets, and dive bars. And the freeway noise is only barely noticeable, honest!
Top left: Texas resident Sean Tooke enjoying the superior farm-to-fork cuisine that our city has to offer at the Sac Food Co-op. Top right: Beer's Books - 100% books, 0% beer, though they'd probably let you bring one in. Below that: Sacramentans enjoying casual Sunday drinks at B-Side in Richmond Grove.
5. YOU SHOW UP TO THE PARTY WITH: A) A six-pack of Track 7 IPAs and a joint. (+15) B) A 30-rack of Coors Light and a nicotine vape pen. (-20) C) A growler of locally-brewed kombucha and a yoga mat. (+30) D) A 2-liter bottle of cola, a bag of Doritos, and a kid. (-50) 6. WHAT WAS THAT LOUD NOISE OUTSIDE?: A) A gunshot? (-20) B) Lawnmowers. (-25) C) Rivercats fireworks. (+15) D) The Brew Bike aka “pedalpowered woo-machine.” (+25) 7. YOU VALUE LIVING WITHIN SHORT WALKING DISTANCE OF: A) Coffee shops, restaurants, grocery stores, bars, show venues, parks, and work. (+25) B) Nature activities. (+10) C) Both of the above! (+35) D) A house with the same floor plan and paint scheme as yours. (-30) 8. YOU WERE LAST YELLED AT BY: A) Your friend, from a bar patio. (+25) B) The host on your favorite AM talk radio show. (-25) QUIZ CONTINUED ON PAGE 31
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MIDDLE OF THE CITY FOR LEASE - 730 I Street, Sacramento 14,000 - 60,000 SF -
office / retail
TURTON COMMERCIAL - 916.573.3300 - TURTONCOM.COM
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Le a r n more u nf amil iar or confus i ng i ndus try terms i n-p ers on b y m eet in g w it h a TCRE age n t f o r c o f f e e!
T HE C O M M E R C IAL REAL ESTATE
MINI-GLOSSARY JON LANG - VICE PRESIDENT
A collection of commercial real estate terms confusing to the uninitiated, finally clarified! 1 Janky Slang for old and dilapidated, but also used to reference the charming humbleness and quirkiness of a neighborhood. Out-of-towner visiting Sac: "Woah, these old buildings are so janky. The plants are huge and out of control and there's graffiti all over it!" Local host: "That's a tree, and those are murals by local artists. We like it janky."
2 Long in the Tooth Originally a phrase used to describe a horse too old to have any real value. In commercial real estate (CRE), it's a term used to describe a property or tenant that is approaching functional obsolescence. Buyer: “I like the property's location, but isn't that Blockbuster kind of... long in the tooth?" Seller: “They carry Blu-ray now!”
3 Lipstick on a Pig A dated term in normal use, but in our industry, this phrase describes an attempt to disguise the sub-par nature of a commercial property through superficial / cosmetic upgrades. Buyer: "Let's buy it, repaint it white and grey, roll out some faux-wood vinyl flooring, replace the light bulbs and slap on some modern-looking cabinet knobs! We'll make a killing on the resale!" TCRE Agent: "Hmm. Putting lipstick on a pig is great, but this building needs plastic surgery."
4 BOV An initialism for "Broker Opinion of Value" It's an appraisal created by a commercial real estate broker to determine the estimated value of a property. Property Owner: “Dang, 3,500 dollars for an appraisal! Do we really need that right now?" TCRE Agent: “We will eventually. But right now, I can produce a BOV for zero to 1,000 bucks.”
5 Market Rate The current price for comparable properties. Tenant: “$1.50/SF? Isn't that below market rate?" Landlord: “Huh. It is? Well, in that case...”
6 Shit or get off the pot Similar in spirit to Nike's slogan Just Do It, this idiom is used when one exhausted party in a CRE transaction wants to establish a soft ultimatum to the other. Seller: “Look, this buyer's taken six months and still hasn't waived contingencies. He needs to shit or get off the pot! Buyer's Agent: “Language!”
7 Listing Agreement A contract between a property owner and a broker outlining the terms of their partnership on a given project - most importantly, that no other brokers can swoop in until the agreement expires. Glassy-Eyed, Young Broker: "This new property is so exciting! I've hired a drone photographer, built a 48 page brochure, organized a broker open, and put a sale sign in the ground - the owner's gonna love it!" Broker's Co-worker: "You did all that without a listing agreement?"
8 Slimy Not unique to CRE in particular, this term is lobbed toward people so immoral or dishonest that you kind of squint whenever you see them. Try not to work with slimy people. Property Owner: “I want this tenant to pay for their own space improvements, but they'll probably walk the deal if they learn about the extra 600 watts of power they'll need... let's not tell them about it." TCRE Agent, aside to Co-worker: “This guy's slimy. Run!”
10 Building Permit A government-issued permission slip authorizing its holder to develop, renovate, or repair a building. Often regarded as an annoyance which can slow down construction, but necessary to ensure proper building regulations. Property Owner: “I'm gonna take out this wall." TCRE Agent: “You'll need a permit for that.” Owner: “Okay, let's replace the windows." TCRE Agent: “That needs a building permit, too” Owner: “What about a new ceiling fan? Permit?" TCRE Agent: “Legally, yes.”
CONTINUED FROM PAGE 29
9. YOU NATURALLY BOND WITH YOUR NEIGHBORS OVER: A) Mutual disdain for combustion-engine leaf blower noises. (+30) B) Mutual disdain for sociallyliberal attitudes. (-50) 10. HOW DO YOU GET TO LUNCH? A) Via speedy JUMP bike. (+15) B) By leisurely stroll beneath the tree canopy. (+10) C) In a car. Who has time for walking? (-40) D) Stalking your prey with a slingbow for several days. (-20) CONTINUED ON PAGE 39
9 Build Out A simple noun referring to the physical construction of an interior space. This includes walls, flooring, electrical lines, plumbing, etc. Prospective tenant on property tour: "Ah, yuck! This build out reminds me of a fast food restaurant." TCRE Agent: "We can always polish the cement floors, expose the ceiling ducts, install dim lights, and replace the counter with a slab of live edge oak. Seems to be working for everyone else."
Completely unrelated data from our office! In our office, you most fear:
Scott
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24% 52%
Being the one who microwaved salmon
16% 8%
The meter maid An injury before the Turton Games
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A nd now, an aw kw a rd s ub ject wi th John Mudgett!
T O B E Q U E AT H , O R
NOT TO BEQUEATH? JOHN MUDGETT - VICE PRESIDENT
Let’s get real: when you pass away, you want your properties bequeathed to your children – but that may be a terrible idea. You have spent your whole life to build a portfolio of real estate. You love the challenge and the interaction with all of the different parties involved in making a deal. Tenants, property managers, contractors, interior designers, brokers, attorneys, politicians and curious onlookers. It’s your world and you have come to know it well. You know the nuances and intricacies of your assets like a dear old friend and your hard work brings you comfort. Or at least it used to. The tireless work is now grating and the enjoyment that used to exist has become more of an obligation. The market is red hot. The idea of selling and simplifying is enticing, but paying half of your proceeds in taxes is less than ideal. The only simple option has been to bequeath your property interests to your kids. There are several considerations to think about before making this fateful choice. Understand the relationship dynamics amongst your heirs. Do they get along well? Would they be good business partners? Are they informed and able to make good decisions on behalf of the new partnership? Are there any deep-seeded issues that have been unresolved for years? On one side, gifting your heirs property could be the exact thing needed to
Top: Disagreements over inheritance and the management of the assets can bring up years of quiet animosity and upend seemingly strong sibling relationships.
"My family struggled pretty badly with [sibling animosity over inheritance]. My grandmother left her property to my uncle who let it fall into a horrid state before defaulting on the taxes and losing it to the county. My dad was upset that all his mom's hard work was lost. She should've sold the property and split the money."
- Anonymous
Sacramento native
bring the family back together. Conversely, it could be the match that lights the fuse of the powder keg of family history. Are your kids more than financially stable? Because buildings are expensive to maintain. Do you heirs have enough cash available to pay for estate/inheritance taxes? If not, you may be forcing them into a quick sale and we all know that selling under duress can often times leave to bad deals for your estate. What are the conditions of your property? Is there a lot of deferred maintenance or items that will require a lot of capital? If your properties need significant dollars to clean up the property, this may lead to contentious disagreements amongst your heirs. Are your heirs up for the task of taking over your property management/investment property business? Unless you own NNN leased retail properties with long terms, you have opted-in for a full time job of keeping your investments afloat. Don’t be fooled; It is a full time job. Are your kids up for the task? good communicators, hands on when it comes to property management, able to negotiate agreements. There is a lot that goes into owning and running commercial real estate investments. Making sure that the properties you own don’t end up owning you or your heirs. Taking time to assess your current situation and incorporating into estate planning well help ensure leaving your family with the legacy that you intended.
FLOWCHART:
SHOULD YOU LEAVE YOUR PROPERTIES TO YOUR KIDS?
No
Are you a property owner? Yes Are you dying?
No
Yes No
Do your kids get along well? Yes Concerned at all that inheritance might change that? Yes Sell properties and split the profits among kids! You will be soon! Talk to us today!
No
MID-CENTURY MODERN GEM IN MIDTOWN FOR SALE
2431 N S T R E E T, S a c r a m e n t o , c a
Turton Commercial - 916.573.3300 - Turtoncom.com
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TURTON
MIKE I N T E RV I E W E D B Y: S C O T T K I N G S T O N - V I C E P R E S I D E N T
Simplified timeline of Mike Hargis’ entrepreneurial endeavors! 2000
Ancient history
Producer / show organizer in SF
Y E T A N O T H E R I N - O F F I C E S U RV E Y ! Have you attended a music-centric event hosted by Mike Hargis?
Yes
100%
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R ES TAUR ANT S
LowBrau Bierhalle German-inspired beer and sausage venue Block Butcher Bar Low-key, swanky bar offering charcuterie Beast+Bounty High-end modern dining with tasteful style Milk Money Donut and ice cream shop in a micro-unit
TBD Fest
Beast+Bounty
2010
Construction and architectural design
M Mike Hargis is more than just the owner of LowBrau, Block Butcher Bar, Beast+Bounty, and Milk Money. His combination of extensive food knowledge, a passion for placemaking, and skill at organizing live music shows has had a tremendous impact on Midtown's cultural landscape. How did he get to his current point? For your consumption, we asked him that and more in person!
Restaurateur / show organizer in Sac
Left: Mike Hargis poses proudly before the massive crowd that came for THIS is Midtown. Bottom right: THIS is Midtown is an extremely popular live electronic music event that takes place on 2nd Saturdays in front of LowBrau.
LAUNCH Fest
Milk Money 2020
LowBrau Block Butcher Bar
SCOTT KINGSTON: Mike, you’re probably one of the most enterprising, tasteful, and storied people I know. I’d love to hear how you started out. MIKE HARGIS: Thanks! Well, I’m a chronic entrepreneur. Since I was a kid, I’ve been an entrepreneur. Stupid things, you know, like in sixth grade I sold condoms to other students at school. I went to an episcopal school in Dallas and I made a killing selling condoms to the upperclassmen. (Laughs) I remember one of the guys in my class pulling me aside and whispering to me, “I’m wearing mine right now!” But between then and starting LowBrau, I tried many other things. In the mid 90s, I started a production business in San Francisco which threw big electronic music and hip-hop events. Planet Rock was my big catalyst event. If you’re familiar with EDC in Las Vegas, it was the Nor Cal version of that. We worked with artists like Afrika Bambaataa, Grandmaster Flash, De La Soul and even mixed in guys like Moby and Daft Punk. I worked with a lot of these artists before they got big – it was cool. I’d found my spot in music, enjoyed entertaining crowds, and loved gathering people. I loved activating spaces, even if it was a temporary, one-night warehouse event. But I couldn’t do it forever. After that lifestyle chewed me up and spit me out, I moved back to Sacramento. I got involved with
THIS is Midtown
my dad’s construction business and was packing lumber and sweeping houses. I also started learning some of the trades like finished carpentry. I found I had a passion for architectural and interior design. I would doodle on napkins during lunch and my dad would be like, “wow, you’re really, really good!” He bought me a CAD program and I started doing design work for his company. Before long I was doing design work for other people. It was great, the early-2000s market was booming and I was designing and building homes. I even built my own house on this cute little piece of property…Then the housing market crashed around 2007 and business evaporated. I started doing interesting odd jobs. I briefly became a personal assistant for Jon Stevenson. The painting of Jon at Beast & Bounty pays homage to that twoday stint (laughs). I also worked for Nathan Wheeler, who was an entrepreneur / developer. I designed some modular modern farmhouses for him and we kicked around some development ideas. But nothing really took off for me, you know? At this point, I felt like I had a hit a bottom in my adult life. Maybe it was a bottom, maybe it was the beginning, whatever - but I was living at home with my mom and dad, and I had pretty much lost everything. Honestly, I felt totally unemployable because I’d only thrown music events, worked for
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my dad’s construction company, and done freelance design. I wondered, “who’s going to hire this creative designer / event coordinator in this market?” So I went for a run one day and thought, “what would I want to do if nothing was holding me back?” Well…I’d always wanted to open a restaurant. Actually, three things came to me on that run. Maybe I was praying, maybe I was just talking out loud - I don’t know. First, I wanted to build a modern farm community development. Second, I wanted to throw a music festival. And third, I wanted to open a restaurant. I think living in Texas when my father was a restaurateur gave me that particular interest. I mean, I was raised around restaurants and probably got the bug when I was very young – I just thought, “man this’d be really cool.” So I was like “Okay game on. Here we go.” So commercial development was your main interest? Well, not exactly – but I tried development first. It was a project off of 27th and V. I designed 18 residential units with rooftop gardens and shared farm grounds and was thinking having these little spots where you could sell things out of the units. The architecture was stunning and the concept was very progressive. That project ended up not coming to fruition, so my next move was, “okay, if I’m not gonna do development right now, I want to do the restaurant idea!” Meanwhile, I started doing events again and started an event called Launch. Coachella inspired this event that I had big
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nauseous and thought, “Oh my God this is like, the dream spot!” There couldn’t have been a better spot. I thought I could do something amazing with the patio combined with the high energy in Midtown. Did you intentionally choose Midtown? Oh yeah. I was a part of the Midtown community. When I was building homes and lived in Granite Bay, I was a fish out of water. Midtown just felt like my tribe. And for our concept, the higher density and cool vibe of Midtown was perfect. Our idea would’ve visions for - Launch was all based been tough to pull off in the subaround design and architecture urbs. LowBrau was really about filling and music and fashion. That Top: LowBrau is one of event ended up progressing into the missing link in Midtown. It Midtown's most TBD Fest. With our first Launch was what we felt locals would popular bars event in 2012, where we really respond to: being authentic and / restaurants, down-to-Earth. At the time we went for it, we brought Future often busy even opened, there were a lot of Euro Islands, Chromeo, DJ Shadow and on weeknights. Group Love. Looking back at it, it bars and sports bars and that’s was a stellar lineup. just not what locals were looking We did that and there was a lot for. We thought, “what’s more real and down-to-Earth than beer and of social equity and momentum, sausage!?” (laughs). I also wanted and we carried that momentum into opening the restaurant in the restaurant to be a platform for 2012. Our goal with LowBrau music events, and it definitely has was to give what we thought become that. That’s definitely true. Why is the community wanted as MidLowBrau so successful at comtowners – a cool place to gather, eat, drink, and see live electronic bining food and music? music. It’s interesting because you see And how did LowBrau end up in a lot of restaurants now doing music. But ours is authentic, it’s the MARRS building? organic, and it comes out of who Oh man, so that wasn’t my original choice. At first, I was looking I am and the years that I’ve spent where Highwater currently is at in that world - it’s not disjointed. 19th and Q because I really dug Music and dining co-exist because they are part of the same the architecture of the building. thing – bringing people together. The timing just wasn’t right and it obviously didn’t work out. At The food, the music, the culture, the time, it was a gut-punch bethe gathering... Maybe it’s just cause I really adored the space. that I dream a little bigger. So obviously your most recent The next spot we were interested projects have been Beast + in was the space where Der Bier Garten currently Bounty and Milk is. I actually deMoney - what’s “Our goal with LowBrau was to give the next big idea signed an amazyou’re cookin’ ing building for what we thought the community that lot with a up? rooftop drinking wanted as Midtowners – a cool place Oh man, I wish I could share that area. But I don’t to gather, eat, drink, and see live know, I think we with you! It’s electronic music.” completely under were too early in the concept and wraps, but I will the property owner wasn’t comsay that the idea is badly needed and there is something transpletely sold on beer and sausages (laughs). formative coming. We’ve been working on it for six or seven Shortly after that, I started speaking with Aaron Marchand at months now and it’s another catTurton Commercial, and he said alyst for the community. It will be a place to gather, eat, drink, that there might be an opportunity in the MARRS building. Honstay. As we get a little further on, I will let you know! estly, I got so excited I became
We don't just market your building - we market the lifestyle it facilitates.
CAPTURE
TURTON
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2901 K FOR LEASE: Highly Visible Urban Office Space in Midtown Sacramento!
TURTON 916.573.3309
8 00-28,000 SF
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Your s eemi ngly-tri vi a l k n o w l e d ge o f M id t o w n is f in al l y rel ev an t !
BITSPuzzle & PIECES Crossword
W E D I D N ’ T H AV E S PA C E F O R E L S E W H E R E
1
THE MIDTOWN
QUIZ: HOW MIDTOWN ARE YOU?
ord Crosszwle! Puz
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11. WHICH BEST DEPICTS YOUR PERSONAL AESTHETIC? A) Leather. Cement. Dark Denim. “It’s a satchel!” (+10) B) Cannabis. Skinny fit. Acrylic paint. “I’m so over the blasé familiarity of suburban life.” (+10) C) Polyester. Television. Toaster Strudels. “We’re thinking a Tuscan-inspired theme.” (-15) C) Morning run. Fitted suit. 11 voicemails. “I have a threepee-emm.” (+10)
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Wow, you probably already live down here. If not, come to your people!
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180-240
Urban living may require some adjustment, but nothing a beer with friends at Biergarten won’t remedy!
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<180
1. A slogan our city has adopted which is true, but cheesy and slightly embarrassing. 2. ____ is Midtown has some of the best DJs roll through!
The old horse racetrack was converted into wide streets ur city has 3.adopted which is true, with grassy medians in this historic Midtown neighborhood. y and slightly embarrassing. 4. Burger Patch is Midtown's first ____ fast food operator! 7. Acronym for Midtown's annual mural festival. dtown has some of the best DJs 9. ____ Dessert Diner is always packed at night! 10. Legendary record store that was replaced by BevMo h! on J. rse racetrack converted into 14. Thiswas urban district is just a few city blocks but home to many of the region's top restaurants, including Zocalo. ts with grassy medians in this 16. Our office's favorite outdoor beer spot. Also located less than a block away from us. dtown neighborhood. 17. Home to Beast+Bounty, Bonobos, and Mendocino Farms. ch is Midtown's first ____ fast 18. Keep Midtown ____! ator! 21. The heavily-marketed name for Downtown Commons. 25. Grocery store calledmural the Sac ____ ____. or Midtown's annual 26. ____ at the Weatherstone is a not-so-hidden gem! 27. ____ Conservatory of Music has eclectic and fun performances!
ert Diner is always packed at
ACROSS
You may need to wean off the suburbs with a few years in East Sac, first.
3. 4 Wheels. 14 Pedals. Also known as the "pedal-powered-woo-machine."
Across: 5. The coffee shop we talk about too much. bikes helping with that transit issue. 3.6. Fast4redWheels. 14"last-mile" Pedals. Also known as the 8. ____ Bark Park. APPS MIDTOWN NEEDS "pedal-powered-woo!-machine" 11. Here's an easy one - what city is Midtown in? Contemplations on convenience! Performing center and dance studioswe in the convert5.12. The arts coffee shop talk about too much. ed Fremont Adult School. Dracula Rent too high? This app sublets your City of ____. 6.13. Sacramento: Fast red bikes helping with that "last-mile" apartment to your nightshifters while you’re at work. 15. Sacramento's gayborhood centrally located on K and transit issue. Pedalphile Tired of biking by yourself? Try the only 20th Street with many popular bars and restaurants. ride-dating network for cyclists, by cyFamily restaurant group that won Sacramento's first 8.19. ______ Bark Park clists. Pedalphile matches you with other Michelin star. cyclists to go for a ride. 20. Second Saturday ____ Need a 2nd or 3rd JUMP bike? Hail a JUMPr 11. Here's an____. easy one to start JUMPr off with - what - they'll bring the bike to you! 22. ____ House is the perfect hybrid of bar and house party. city is Midtown in? 23. Every local place serving ice cream has this brand. 24. You can get a blackberry margarita here! Answers: studios in 12. Performing arts center and Crossword dance 25. Funky art-collective slash cooperative on 21st and I. the converted 28. A gay bar serving the areas cheapest,Fremont strongest drinks. Adult School 29. Historic neighborhood of gritty industrial warehouses 13. Sacramento: Cityoffices of and ____ converted to retail, restaurants, art studios, lofts. Also a pirate's favorite street. 15. Sacramento's gayborhood centrally located on K and 20th Street with many popular
1. Farm to Fork, 2. THIS, 3. Boulevard Park, 3. Brew Bike, 4. Vegan, 5. Temple, 6. JUMP, 7. WOW, 8. Truitt, 9. Rick's, 10. The Beat, 11. Sacramento, 12. Clara, 13. Trees, 14. Handle, 15. Lavender Heights, 16. Der Biergarten, 17. Ice Blocks, 18. Janky, 19. Selland, 20. Artwalk, 21. DoCo, 22. Flamingo, 23. Gunther's, 24. Zocalo, 25. Food Co-op, 26. Old Soul, 27. Pease, 28. The Merc, 29. R Street
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K now n in some c irc l es a s the "Brown Shoe Crew!"
Tu r t o n C o m m e r c i a l R e a l E s t a t e
ABOUT TURTON
*
Š 2019 This information has been secured from sources believed to be reliable. Any projections, opinions, assumptions or estimates used are for example only and do not constitute any warranty or representation as to the accuracy of the information. All information should be verified through an independent investigation by the recipient, prior to execution of legal documents or purchase, to determine the suitability of the property for their needs. Logos and/or pictures are displayed for visual purposes only and are the property of their respective owners.
TURTON
T U R T O N CO M .CO M 916.573.330 0
24 0 9 L S T R E E T, S T E 2 0 0 , S A C R A M E N T O , C A 9 5 816
PRESIDENT
KEN TURTON
Lic. 01219637
916.573.3300 | kenturton@turtoncom.com
VICE PRESIDENT
VICE PRESIDENT
VICE PRESIDENT
DIRECTOR
Lic. 01711650
916.573.3305 | aaronmarchand@turtoncom.com
JON LANG
Lic. 01934934
916.573.3302 | jonlang@turtoncom.com
JOHN MUDGETT
Lic. 01765754
916.573.3306 | johnmudgett@turtoncom.com
SCOTT KINGSTON
Lic. 01485640
916.573.3309 | scottkingston@turtoncom.com
PATRICK STELMACH
Lic. 01964999
916.573.3314 | patrickstelmach@turtoncom.com
DIRECTOR
ZACHARY HOOKER
Lic. 02013574
916.573.3315 | zacharyhooker@turtoncom.com
DIRECTOR
DAVID MESSER
Lic. 01958185
916.573.3313 | davidmesser@turtoncom.com
DIRECTOR
DAVID KHEDRY
Lic. 02063469
916.573.3303 | davidkhedry@turtoncom.com VP OPERATIONS & MARKETING CREATIVE DIRECTOR
MARKETING ASSOCIATE
Some of the Team - Drinks at LowBrau
AARON MARCHAND
BROOKE BUTLER
Lic. 02086576
916.573.3301 | brookebutler@turtoncom.com
COREY LAU 916.573.3304 | coreylau@turtoncom.com
JUSTINE WONG 916.573.3304 | justinewong@turtoncom.com
OUR SERVICES
CONTACT US
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2409 L Street,
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Ste 200
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Sacramento, CA 95816
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916.573.3300
Building Valuations Market Updates Property & Project Mgmt. The Team - With our rental helicopter in the Grand Canyon
BROKERAGE
We are a boutique firm made up of fresh agents and creative marketers with a passion for Sacramento. We tore down those divisive office walls and created a collaborative work environment where all information is shared to benefit our clients and their real estate. We recognize tradition, yet embrace the future. Whether tenant or landlord, buyer, or seller, we combine industry knowledge, know-how, and resources with creativity, hard work, and a relentless passion to beat client expectations. Contact us anytime to discuss the perfect property for your firm or how to maximize the value of your own property. Interested in learning about the market or working for Turton Commercial? Letâ&#x20AC;&#x2122;s grab a coffee at Temple or a beer at LowBrau. Our treat.
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M A R K E T I N G / O P E R AT I O N S
The Team - Atop Angel's Landing in Zion National Park
SACRAMENTO THINK BOLDLY J DARE WISELY LANDLORDS J TENANTS INVESTORS J DEVELOPERS
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