1031 Exchange Options Announces Successful Acquisition of Class A $74.6 Million Office Tower by Tenant in Common Investors.Business Editors/Real Estate Writers WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--April 29, 2004 Cary Losson, Founder and President of 1031 Exchange Options, today announced on behalf of clients the successful acquisition of a 336,104-square-foot Class A office tower in Sacramento, Calif. by tenant-in-common (TIC) investors. The 22 TIC investors acquired the property for $74.6 million including reserves. The 15-year old, 28-story high rise is a prominent fixture in the city skyline and has 521 parking spaces in a secure parking garage for tenant use. The property is located in California's State Capital at 801 K Street. "We are very pleased to help our clients acquire this property," stated Cary Losson, Founder and President of 1031 Exchange Options. "More than 75 percent of the building is currently leased to the State of California Department of Conservation The California Department of Conservation provides services and information that promote environmental health, economic vitality, informed land use decisions and sound management of California's natural resources. giving it a stable tenant base. 801 K Street's relatively low vacancy rate and ideal downtown location makes it an investment with great potential." Triple Net Properties, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acquired 801 K Street from Sacramento Renaissance Tower For the tower in Sacramento, California, see Renaissance Tower (Sacramento) Renaissance Tower, located at 1201 Elm Street in downtown Dallas, Texas is a 56-story modern-styled skyscraper. , LLC on behalf of the co-ownership group of TIC investors. 1031 Exchange Options represented individual investors, including many who successfully completed 1031 exchanges with the acquisition of their undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal. 2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until fractional interest in this property. About 1031 Exchange Options 1031 Exchange Options is a leading real estate investment consultancy recognized for real estate investments structured for co-ownership. The company advises clients on tenant-in-common (TIC) ownership, funds, LLCs, REITs, and other real estate investments. 1031 Exchange Options national headquarters is located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and services clients nationwide. Additional information is available at www.1031tic.com. |
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