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641,710-SF Asset Changes Hands in Highway 50 Corridor

RANCHO CORDOVA, CA-A joint venture of JPMorgan Asset Management and Lowe Enterprises acquires the Prospect Green office campus and One Capital Center office building in this Sacramento submarket.

By Brian K. Miller | Updated on August 29, 2005

RANCHO CORDOVA, CA-The 518,000-sf Prospect Green office campus and the 123,741-sf One Capital Center office building here have changed hands. The new ownership is a joint venture of JPMorgan Asset Management and Lowe Enterprises. The seller was Lewis Trust Group. The sale price was not immediately available.

The two developments are located within one block of each other in a district known as the Highway 50 Corridor, one of the area’s major east-west thoroughfares connecting the southern portions of the metropolitan Sacramento area. Prospect Green is a five-building office campus set on 34 acres adjacent to the Zinfandel Road exit from Highway 50. One Capital Center, located one block to the west, is a six-story office building with 20,500-sf floor plates, which allow for efficient space use and are divisible.

Prospect Green was developed between 1990 and 2001. Building I is four stories and 126,816 sf; building II is two stories and 70,065 sf; building III is three stories and 100,308 sf; building IV is three stories and 102,840 sf, and; building V is three stories and 17,940 sf. The buildings surround a 2.4-acre park. Also included in the transaction is a one-acre parcel that can be developed.

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