Modesto, Calif.-based Graceada Partners has acquired two assets in Sacramento in separate deals.
The firm acquired a two-story office building, located at 2101 Arena Blvd.
It is 100 percent occupied by the State of California Department of Business Oversight as its headquarters. The property was purchased for $155 per square foot, while comparable fully leased properties are selling in excess of $180 per square foot and replacement cost is over $300 per square foot.
“Our disciplined strategy has yielded another excellent acquisition,” said Joe Muratore, principal with Graceada Partners. “It aligns with Graceada Partners’ overall approach of securing high-quality, recession-resistant properties at a fraction of the replacement cost.”
The property was built in 1999 and was substantially renovated in 2020 to accommodate the Department of Business Oversight moving their headquarters into the building. The property’s previous owner gutted and com
