$130M Sacramento purchase

A joint venture between Hines and Sterling American Property Inc. has acquired an 18-story office building in Sacramento, Calif., for $130 million.

The 383,238-square-foot, class A property is home to several government agencies, including the California State Controller's Office and the California Department of Insurance. Built in 1984, it is located at 300 Capitol Mall, and includes an attached 761-car parking garage.

Occupancy at the time of sale was 98 percent.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.