Making its debut in the Northern California commercial real estate market, The Abbey Co. purchased a 185,859-square-foot office building in Sacramento.
The value of the transaction was not disclosed.
The Landmark is a six-story, class A property situated on 10.6 acres at 1750 Howe Ave.
The property’s anchor tenants include Liberty Mutual, which occupies approximately 35 percent of the building; Bank of Sacramento; CBS Radio; and Landmark Healthcare. It was more than 90 percent leased at the time of sale. Nearly half of the building is leased through 2012, according to a press statement.
“We’re hoping to build on the momentum of the Landmark acquisition,” said Abbey’s Chief Investment Officer Michael Jenkins. “We plan to expand our presence in Northern California in the years to come.”
The Abbey Co. has more than 4.5 million square feet of office, retail and industrial properties under management throughout California.