The vacant lot at 301 Capitol Mall in Sacramento was sold for $17 million in a transaction involving the Shingle Springs Band of Miwok Indians purchasing the property from Marcie Frost of the California Public Employees’ Retirement System. The site was originally intended for twin 53-story towers, but development plans were interrupted by the Great Recession, leaving the tribe to determine its future use.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $17,000,000
• Address: 301 Capitol Mall
• Market: Sacramento
• Buyer: The Shingle Springs Band of Miwok Indians
• Seller: Marcie Frost - California Public Employees’ Retirement System
• Brokers: Ken Turton, Matt Axford & Scott Kingston - Turton Commercial Real Estate

The deal was facilitated by brokers Ken Turton, Matt Axford, and Scott Kingston from Turton Commercial Real Estate, who represented the involved parties in the sale of the land. The purchase marked a significant moment for the Shingle Springs Band of Miwok Indians as it signified a return to their ancestral lands.