by Jerry Feitelberg

SACRAMENTO–Downtown plaza the future home of the Sacramento Kings new arena has the L Street mall shutdown for construction. Most of the plaza stores in the mid part of the mall are shut down. Plans for L Street include buildings that will be office occupied and retail that will serve the nearby arena. One buyer in the neighborhood Trinity Pacific Partners bought 555 Capital Mall an entire city block a 380,000 foot space that has two connected offices that is 14 stories that already has retail and stores on the street level.

The block also has parking that is right across the street that features 791 spaces for parking. The ideal situation when the Kings start play at the arena for the fall of 2016. Currently the building has a 60 percent occupation rate that contains law and accounting firms. Trinity is invloved with business partners Buzz Oates LLC, AM Investors and Rubicon Partners as a group they remodled the Forum building at Ninth and K Streets and the Citizen Hotel at 10th and J Streets.

Purchase price was not available through public records, Trinity has plans for the towers to fill the empty office space and they most likely will succeed when the new arena is up and running and downtown office space will be at a premium with many companies ready to rent the space that would attract businesses who will come down to see the newly refurbished neighborhood.

With Downtown Plaza demoed there are already takers waiting to move into the new buildings in anticipation of the Kings new arena, Kipp Blewett from the firm Ribicon Partners plan to operate and lease the building and there are big plans with retail and businesses already lining up to move in.

The mere excitment of the Kings moving downtown has the locals excited to get business going and there will be a lot of improvements and new looks to downtown the these buildings being remodeled will according to Blewett have more boutique firms. Michael Ault of the Downtown Sacramento Partnership said the new arena will bring economic benefits “everything that we had talked about in the way of momentum from the arena project is starting to come together.”

Jerry Feitelberg is covering the new arena developments for the Sacramento Kings and the Golden State Warriors for http://www.sportsradioservice.com