Seagate Properties Purchases The Senator Office Building in Sacramento
SACRAMENTO, CALIF. — Seagate Properties has acquired The Senator, a landmark office building located at 1121 L Street in Sacramento. Swift Real Estate Partners sold the property for an undisclosed price.
Opened in 1924 as a hotel, the property was converted into a 180,123-square-foot office building in 1982. The seller acquired the property in 2015 and implemented a renovation program to transform the building’s traditional office space into modern, creative workspace.
Situated across from the California State Capitol, the 10-story building is currently 88 percent leased.
Rob Hielscher, Michel Seifer and Erik Hanson of JLL Capital Markets team represented the seller in the deal. Additionally, Alex Witt, John Manning and Tom Gilliland of JLL Capital Markets worked with the buyer to arrange acquisition financing.