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News release


Sacramento’s premiere office tower sells to Bay Area-based fund

JLL-brokered sale punctuates increasing investor demand in Sacramento

SACRAMENTO, Jan. 11, 2018 – JLL's Capital Markets experts announced the sale of U.S. Bank Tower at 621 Capitol Mall in Sacramento. The 25-story office tower sold to a fund sponsored by Shorenstein Properties of San Francisco. JLL represented the seller, a venture of well-known Sacramento developer David S. Taylor Interests and Britannia Pacific Properties. Taylor developed the Class A building, which was completed in 2008.  ​

​​The 366,000-square-foot office tower is located immediately south of the Golden One Center, which opened in late 2016, and is three blocks west of the state capitol. The building’s prime location and high quality attracted a mix of globally and regionally based tenants that include law firms, government agencies and tech companies. The property also features more than 23,000 square feet of fully occupied retail and restaurant space, which includes Morton’s The Steakhouse, and a large parking structure that services both the property and the Golden One Center. 

"621 Capitol Mall is one of highest caliber assets in Sacramento and the West Coast," said Rob Cole, Executive Vice President of JLL in Sacramento, who led the international marketing effort with Managing Directors Rob Hielscher and Michel Seifer, and Vice President Alan Stevenson. "David Taylor and his team have done a phenomenal job creating and maintaining a world-class asset."

"David S. Taylor Interests has been a great long-term partner and developed a best-in-class property," added Hector M. Caldera, Managing Director of Britannia Pacific Properties. "Sacramento has been a great investment market for the group and we look forward to recycling the proceeds into other local developments over the next few years."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $145 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of Setpember 30, 2017, LaSalle Investment Management has $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit