Tim Lewis Communities Buys 2100 Q Street Sacramento Bee Site From Shopoff Realty Investments

The asset at 2100 Q Street in Sacramento is an OFFICE property spanning 6.28 acres (381,000 square feet). The sale price was $18,500,000 (PPSF $49) in the Sacramento market.

Summary of transation details:

• Property Type: OFFICE
• Transaction Amount: $18,500,000
• Address: 2100 Q Street
• Market: Sacramento
• Acreage: 6.28
• Square Footage: 381,000
• PPSF: $49
• Buyer: Jay Timothy Lewis - Tim Lewis Communities
• Seller: William Shopoff - Shopoff Realty Investments
• Broker: Libby Wickland - Providence West

Tim Lewis Communities plans to redevelop the site into 122 homes on the 6.28-acre property. Shopoff Realty Investments previously acquired the broader Sacramento Bee campus in 2017 for $44.75 million and has since divested parcels totaling $48.57 million, netting a modest return over several years. Libby Wickland of Providence West served as the broker in the transaction.