CT Realty Buys 85,742 SF for $5.4 Mil

SACRAMENTO-A multi-tenant building here at 9719 Lincoln Village Dr. has changed ownership without even hitting the market. Brokers found the two-story, 85,742-sf building based on specific requests from the buyer, CT Realty Corp. of Newport Beach, and negotiated a deal valued at $5.4 million. The seller was Lincoln Village Park LLC.

Bill Bouldin and Glenn English of Bouldin & English, along with Greg Meyer of Brown, Stevens, Ellmore & Sparr worked as a team in locating and arranging both sides of a deal for the 2-story, 85,742 SF complex, which consists of 6 buildings. “The buyers were looking for property that had value-added prosperity,” said Bouldin. “This particular buyer likes to buy buildings that need work. That was a motivating factor.”

The low-rise building was built in 1980 and is an existing property that can be fairly easily fixed up. The new owners are renovating the property to include new paint, a new roof, and various other amenities. The building was partially vacant at the time of the sale and CT Realty has assigned Kurt Munger of Cornish & Carey to negotiate new leases for the open space.