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SACRAMENTO, CA-A private investor and an Indian tribe have purchased 47.7 acres of riverfront in West Sacramento from The Scanvic Corp. The Friedman family and Rumsey Indian Tribe paid $10.5 million for the property, according to sources familiar with the deal.

The property is at 114-122 Tower Street, next to Raley Field. It was on the market for six months. Bud Applegate of Colliers International represented both the buyer and the seller.

Gay Moss of Colliers tells GlobeSt.com the space is set up for waterfront and waterfront residential development. The development, which will include 1450 residential units, 3,038,000 SF of office space, and 87,260 SF of retail space, is just a portion of the overall requirement for the Triangle. Moss adds that there will also be parks, an amphitheater and a pier in the mix.

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