Crown Corporate Center

Address: 2860 Gateway Oaks Drive Sacramento, California
Purchased: June 2005
Price: $24,000,000 ($204.88/sqf)
Size: 117,139 square feet


One of five buildings comprising the Crown Corporate Center, the building was 50% leased at the time of acquisition. Edgewood subsequently brought occupancy to over 95% within one year.

Located at the intersection of the 5 and 80 Freeways, five minutes from Sacramento CBD and ten minutes from the airport.

Purchase Capitalization Rate – 8.1%.

Parking ratio of 3.75 : 1,000 square feet.

Status – The project was sold in July of 2006 for $29,000,000, generating a return on equity of approximately 76%.