PacWest Equities has struck a deal to acquire a Class A office property in Sacramento for $117 million from Manulife US REIT.
JLL, which brokered the deal on behalf of the seller, said in a statement that the transaction was "the largest office sale in almost five years" in the city.
In addition, the real estate firm said that the building called 400 Capitol Mall, maintained "nearly 90% historical occupancy over the past 25 years." And in the past four years, 232,000 square feet of leases have been signed. Some major tenants at 400 Capitol include Morgan Stanley, Wells Fargo, Orrick, PWC, and Deloitte.
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