Press Releases
Marcus & Millichap Closes Class A Office Building Sale in Sacramento
December 03, 2025
SACRAMENTO, Calif., Dec. 3, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 520 Capitol Mall, an eight-story, 80,752-square-foot Class A office asset on the Capitol Mall in Sacramento, California. The property sold for $22.3 million.
“In the first 45 days of marketing, we conducted 15 tours and generated nine competitive offers, ultimately going to a best and final round and achieving the highest price per square foot for an office asset in Sacramento’s central business district since 2022,” said Mark Hefner, managing director investments in Marcus & Millichap’s Sacramento office. Hefner, Zach Danner, Zach Sattler, and Ross Relles III, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the seller. The buyer is California Housing Finance Agency.
The building is within walking distance of the California State Capitol, United States District Court Eastern District of California, the Superior Court of California, County of Sacramento, and the city’s entertainment and sports complex, DOCO - Downtown Commons. The Golden 1 Center, home to Sacramento Kings of the National Basketball Association, is one block away.
Built in 1963, 520 Capitol Mall was originally IBM’s regional headquarters. Renovated in 2003 and 2016, the building has a 10,000-square-foot floor plate, 30-foot bay depths, and floor-to-ceiling glass on all four elevations. The property has a full floor lower level, an 182-space parking structure, a fitness center with showers and locker rooms, a conference center with flat-screen displays, ample on-site storage, and an electronic tenant directory.
“In the first 45 days of marketing, we conducted 15 tours and generated nine competitive offers, ultimately going to a best and final round and achieving the highest price per square foot for an office asset in Sacramento’s central business district since 2022,” said Mark Hefner, managing director investments in Marcus & Millichap’s Sacramento office. Hefner, Zach Danner, Zach Sattler, and Ross Relles III, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the seller. The buyer is California Housing Finance Agency.
The building is within walking distance of the California State Capitol, United States District Court Eastern District of California, the Superior Court of California, County of Sacramento, and the city’s entertainment and sports complex, DOCO - Downtown Commons. The Golden 1 Center, home to Sacramento Kings of the National Basketball Association, is one block away.
Built in 1963, 520 Capitol Mall was originally IBM’s regional headquarters. Renovated in 2003 and 2016, the building has a 10,000-square-foot floor plate, 30-foot bay depths, and floor-to-ceiling glass on all four elevations. The property has a full floor lower level, an 182-space parking structure, a fitness center with showers and locker rooms, a conference center with flat-screen displays, ample on-site storage, and an electronic tenant directory.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
