Hines Sells 345,775 SF Office Portfolio in Sacramento
SACRAMENTO, CALIF. — Hines has completed the sale of Point West, a three-building office portfolio located in Sacramento. Basin Street Properties acquired the asset for an undisclosed price.
Totaling 345,775 square feet, the properties are located at 1545 River Park Drive, 1601 Response Road and 1610 Arden Way. At the time of sale, the portfolio was 78 percent occupied by a diverse tenant base, including UBS, GSA, WestAmerica Bank and Covered CA.
Grant Lammersen, Steve Golubchik, Edmund Najera and Tyler Meyerdirk of NKF Capital Markets represented the seller in the deal.