{"id":1004264735,"date":"2018-09-14T01:10:59","date_gmt":"2018-09-14T09:10:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004264735"},"modified":"2022-12-08T15:22:43","modified_gmt":"2022-12-08T23:22:43","slug":"hines-trades-norcal-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-trades-norcal-office-portfolio\/","title":{"rendered":"Hines Trades NorCal Office Portfolio"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<p>Basin Street Properties has acquired three office assets, totaling 345,775 square feet, from Hines in Sacramento, Calif., for $44.5 million. The seller, Hines, had purchased the buildings from Equity Office Property Trust in 2007 as part of a $755 million, 2.4 million-square-foot transaction, according to Yardi Matrix.<\/p>\n<p>All three assets are positioned near the Capital City Freeway in Sacramento\u2019s Point West submarket, within 1 mile of more than 3 million square feet of Class A and B office space. The portfolio is 78 percent occupied to a mix of tenants.<\/p>\n<p>The first asset, Point West Commercenter, is located at 1610 Arden Way, a block from Kaiser Permanente\u2019s Point West Medical Offices. The two-story building, constructed in 1984, is home to both medical and office tenants, with an 800-square-foot caf\u00e9 on the first floor, Yardi Matrix data shows.<\/p>\n<p>The second property is located immediately south of the first, at 1601 Response Road. Known as the Exposition Center, the asset is occupied by a range of tenants including Zenith Insurance, Premier Healthcare Services and Stewart Ward &amp; Josephson.<\/p>\n<p>The third property, the Point West Corporate Center, is situated at 1545 River Park Drive, half a mile west of the first two assets in the portfolio. The five-story building, constructed in 1984, is home to the American Cancer Society, Benefit Resources and UBS.<\/p>\n<p>In August, Hines traded a nearly 410,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/pier-1-imports-hq-in-fort-worth-changes-hands\/\">Class AA office tower in Texas<\/a> for $83.2 million.<\/p>\n<p><em>Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Basin Street Properties paid nearly $45 million for three buildings in Sacramento\u2019s Point West submarket. The assets total more than 345,000 square feet.<\/p>\n","protected":false},"author":861,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,36080,15],"tags":[33781,32797],"class_list":["post-1004264735","post","type-post","status-publish","format-standard","hentry","category-deals","category-investment","category-latest","category-office","category-sacramento","category-west","tag-equity-office","tag-hines"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hines Trades NorCal Office Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-trades-norcal-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Trades NorCal Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"Basin Street Properties paid nearly $45 million for three buildings in Sacramento\u2019s Point West submarket. The assets total more than 345,000 square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-trades-norcal-office-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-14T09:10:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T23:22:43+00:00\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Hines Trades NorCal Office Portfolio\",\"datePublished\":\"2018-09-14T09:10:59+00:00\",\"dateModified\":\"2022-12-08T23:22:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/\"},\"wordCount\":237,\"keywords\":[\"Equity Office\",\"Hines\"],\"articleSection\":[\"Deals\",\"Investment\",\"News\",\"Office\",\"Sacramento\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/\",\"name\":\"Hines Trades NorCal Office Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2018-09-14T09:10:59+00:00\",\"dateModified\":\"2022-12-08T23:22:43+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-trades-norcal-office-portfolio\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hines Trades NorCal Office Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\",\"name\":\"Jeff Hamann\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Jeff-Hamann.jpg?w=96\",\"caption\":\"Jeff Hamann\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/jeffh\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Hines Trades NorCal Office Portfolio - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/hines-trades-norcal-office-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"Hines Trades NorCal Office Portfolio","og_description":"Basin Street Properties paid nearly $45 million for three buildings in Sacramento\u2019s Point West submarket. 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