The buildings are located at 600 Buerut Dr. Lewis plans to begin rehab work on the structure immediately. The building is more than 25 years old and its roofs, air conditioning units and landscaping are in need of renovations.
Pete Noack of CB Richard Ellis negotiated the deal with the broker on behalf on CPRK. Washington Mutual financed the buyer.
American River Commons is located in a rapidly expanding area, due to its proximity to Downtown and the freeway entrance. It has a low rate of vacancy (7%) and many of its tenants are government agencies.
The area is also part of a major redevelopment project that will connect 7th Street to Richards Boulevard in the next year.
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