SARES REGIS GROUP OF NORTHERN CALIFORNIA REPOSITIONS
1800 3RD STREET FOR CALPERS – ACCENTURE SIGNS OE OF THREE NEW LEASES

            Unique Office Amenities Attract New Tenants With Open 17-Foot Loft-style Spaces

SACRAMENTO, CA – November 6, 2007 – Sares Regis Group of Northern California (SRGNC), one of the leading developers and managers of commercial and residential real estate in the western United States, has repositioned the 196,000 square foot historic Thompson/Diggs Hardware building located at 1800 3rd Street in Sacramento.  Three new tenants have recently signed leases bringing occupancy in the office building to 94 percent.  The owners are pumping over $2,000,000 into building improvements during the repositioning.  Upgrades include new carpet, paint, light fixtures and finishes in the lobby and common areas, high quality interior tenant finishes, new signage, and HVAC upgrades.

In light of the new improvements and its great location, Accenture has just taken 6,100 square feet of space and will move into the building by early next year.  Accenture was represented by Eric Danielson and Laurie Condon of Studley while Sares Regis Group of Northern California was represented by Matt Havelock and Tom Aguer of Aguer Havelock Associates.

“We are pleased that we have been able to capitalize on the unique amenities at 1800 3rd Street and attract a diverse and dynamic group of tenants to the building since we acquired it in a partnership with CalPERS in 2005,” said Jeff Birdwell, president of the commercial division of Sares Regis Group of Northern California.
Additionally, the building closed two state office deals, the California State Department of Housing and Community Development signed a lease for 17,500 square feet and the California State Department of Social Services signed a lease for 31,000 square feet on the building’s first floor. 

Murray Wachtel and Devon Atlee of Cornish & Carey Commercial Real Estate represented the State of California in both deals and Tom Aguer and Matt Havelock of Aguer Havelock Associates represented Sares Regis Group of Northern California.

In addition to the two new state office leases and Accenture, the SRGNC local affiliates Regis Homes of Sacramento, LLC and Regis Contractors of Sacramento, LP have also relocated to the building and capitalized on the 17-foot ceilings to create an open, loft-style office space.  When CalPERS and Sares Regis Group of Northern California acquired the building in 2005 it was 61 percent occupied.

“This property is attractive to tenants because of its strategic location near several key transportation corridors and the close proximity to central business district,” said Tom Aguer, president of Aguer Havelock Associates and the exclusive leasing agents for 1800 3rd Street.  “The R Street Corridor is dynamic and attractive to both State of California tenants as will as professional service firms.” For leasing information on the building or to arrange a tour, please contact Tom Aguer or Matt Havelock at Aguer Havelock Associates at 916/563-7555.

Sares Regis Group of Northern California and its affiliates, Regis Homes of Northern California and Regis Contractors of Northern California are regional companies based in San Mateo, California and are affiliated with Irvine-based Sares Regis Group.  One of the leading developers and managers of commercial and residential real estate in the western United States, today the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development.  Sares Regis Group has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 13,000 rental apartments and 15 million square feet of commercial and industrial space.  Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.

# # #