The UC Davis Health System has purchased an empty office building in Sacramento from K&H California Inc. for $7.7 million, less than half the asking price. While terms of the deal were not disclosed, it was reported that Cornish & Carey Commercial negotiated the deal on behalf of the seller. K&H initially approached UC Davis to lease the property (previously occupied by Sacramento County Office of Social Services), but the university proposed a purchase agreement instead.
The two-story, 68,000-square-foot office building at 4875 Broadway will be renovated to provide office and support space for a variety of research programs, UC Davis Health System facilities director Mike Boyd said in a Sacramento Business Journal article. "We don't have immediate plans to get in and renovate the property, but expect to do so soon," Boyd said.
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