Internal Revenue Service & Kaplan College
Sacramento, CA
Unstated
Unstated
Unstated
87%
132,674 SQ FT
Office
1988
6.13 Acres
Sold
SOLD ON ALL CASH BASIS
No buyer financing
COMPETITIVE OFFER PROCESS
with best and final round
87% LEASED TO TWO CREDIT TENANTS
IRS and Kaplan College
ANCHORED BY IRS
Accounting for 67% of building SF and 80% of gross income
NEW 15-YEAR LEASE RENEWAL
by IRS in 2012
BUILT-TO-SUIT FOR IRS
Serving as regional headquarters
$6.77 MILLION IN CAPITAL IMPROVEMENTS
GRE Group was hired by Amstar to market this IRS Regional Headquarters office, which included Kaplan College as a second major tenant in the building with only 1 year remaining on the lease term. GRE Group was able to successfully overcome the challenges of less than 100% government occupancy and a very short Kaplan lease, creating a competitive bid process culminating in a best and final offer round.
