Avison Young Closes Deal for Two-Building Sacramento Office Complex

Avison Young completed the $44.5-million sale of Natomas Corporate Center in Sacramento. The two-building, Class A, LEED-certified office property is located at 2020 W. El Camino Ave. and 2555 Natomas Park Dr. in the South Natomas submarket. Situated on approximately 21 acres, the property totals 419,000 square feet.

Principal Matt Havelock and VP Max Kelly represented the seller, Bannon Investments, Ltd. The buyer, Chavez Management Group, Inc., was represented by Michael J. Anthony of MJA Equity Investments.

“Chavez Management Group acquired these two best-in-class assets at well under replacement value, with the goal of capturing the ‘flight to quality’ market, which is expected to occur over the next 36 months,” said Havelock.

He added, “The local office market has seen improvement in the way of increased velocity in tenant activity and new office transaction requirements during the past two quarters. Office vacancies remain a concern, especially in the CBD as well as Rancho Cordova.  However, compared to the challenges endured in the Sacramento region office market during 2021 and 2022, several submarkets are showing significant signs of improvement, including, Folsom, Roseville, El Dorado Hills and South Natomas.”

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