Shopoff Realty Investments has acquired The Sacramento Bee’s 10.9-acre office and industrial property in Midtown Sacramento, currently housing the newspaper’s printing and distribution facility. The location is also the national headquarters for The McClatchy Company, which owns The Sacramento Bee and 29 other daily newspapers throughout the United States. McClatchy intends to remain in the building; concurrent with closing, Shopoff executed a 15-year triple net lease.
The property is located in the Midtown submarket of Sacramento, which has seen a flurry of interest from developers in recent years. Its transformation from a strictly industrial neighborhood has begun, with more than 650 new residential housing units currently in the planning stages or under development.
“The influx of new residents and companies moving to the Sacramento area has been tremendous, and we are confident that the changes taking place in Midtown will only add to the