Buzz Oates Purchases 400 Capitol Mall Office Tower From Manulife Investment Management For $117M

400 Capitol Mall is a Class A office tower located in Sacramento, featuring 501,308 square feet of space. The sale price for the property was $117,000,000, reflecting a price per square foot of $233. The 29-story building has achieved nearly 90% historical occupancy over the past 25 years, further showcasing its commercial appeal.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $117,000,000
• Address: 400 Capitol Mall
• Market: Sacramento
• Square Footage: 501,308
• Price per Square Foot: $233
• Buyer: Buzz Oates
• Seller: Manulife Investment Management
• Brokers: Adam Lasoff, Erik Hanson, Rob Hielscher & Caroline Reynolds - JLL

JLL facilitated the transaction, having arranged the $117,000,000 sale. The property has seen significant leasing activity, with 232,000 square feet of leases signed since 2020, indicating strong demand and occupancy levels maintained by the building over the years.