32 replies to this topic

[john]

http://ow.ly/1trYq

Capital Valley Commercial, Inc. Acquires an Approximately 26 Acres of State Land in Folsom, CA

Sacramento, CA., April 1 /PRNewswire/ -- Capital Valley Commercial “CVC"), a self-managed, non-traded, commercial construction company, announced the completed purchase of a 26 acre parcel of state land for $45,256,500. The 26 acre parcel is located in Folsom CA, near major freeway access. The state of California deemed the land excess and sold it as part of the land portfolio being auctioned to decrease the state budget deficit. CVC will be building approximately 2,260,500 square foot multi-story commercial complex. The buildings will be positioned in strategic locations to maximize the view for tenants.

"The Folsom state property provides us with the opportunity to own core real estate assets essential to the rebirth of commercial development in Sacramento," stated Mark D. Engstrom, Executive Vice President – Acquisitions. "This portfolio is consistent with the new era of building which involves builders working together in new ways to meet the needs of their communities."

The bike trail that currently runs through the property, will be maintained by CVC, but will be closed for 26 months during construction of the site. Construction is slated to begin in July 2010.

[folsom500]

This is pretty sad to hear. I had always thought the lake side would always be open space...

[ducky]

Yet another thing light rail brought to Folsom.

[Dave Burrell]

Booooooooo!!!! that sucks, more paving over of our paradise

[granto]

http://ow.ly/1trYq

Capital Valley Commercial, Inc. Acquires an Approximately 26 Acres of State Land in Folsom, CA

Sacramento, CA., April 1 /PRNewswire/ -- Capital Valley Commercial “CVC"), a self-managed, non-traded, commercial construction company, announced the completed purchase of a 26 acre parcel of state land for $45,256,500. The 26 acre parcel is located in Folsom CA, near major freeway access. The state of California deemed the land excess and sold it as part of the land portfolio being auctioned to decrease the state budget deficit. CVC will be building approximately 2,260,500 square foot multi-story commercial complex. The buildings will be positioned in strategic locations to maximize the view for tenants.

"The Folsom state property provides us with the opportunity to own core real estate assets essential to the rebirth of commercial development in Sacramento," stated Mark D. Engstrom, Executive Vice President – Acquisitions. "This portfolio is consistent with the new era of building which involves builders working together in new ways to meet the needs of their communities."

The bike trail that currently runs through the property, will be maintained by CVC, but will be closed for 26 months during construction of the site. Construction is slated to begin in July 2010.

HOW CAN THEY STEAL OUR BIKE PATHS!!!

This is totally unacceptable!

[eVader]

"Rebirth of commercial development" WTH??? What about all the recently built but vacant office buildings, office parks in Folsom, Rancho, Sacramento etc?

"Bike trail closed for 26 months" - WTF???!!!!????!!! That section is a HUGE starting point for commuters, weekend riders, joggers, families, kids plus how will they detour around it without a major impact? Poor planning.

I am said they had to sell this property although it is just one of many until the clowns downtown can understand how to budget, cut waste, focus on economics vs. more BS bills.

[tgianco]

Another example that the "State" can't manage finances. This is why we don't want more government oversite of our personal lives.

This is just government mismanagement and lack of foresight that is typical of our elected officials but also the government worker mindset.

[Mr Horsepower]

This is sad to hear. A large part of the appeal to move to Folsom was all the open space. We've been here since '04 and its unfortunate to see how much of the open space has been paved over in that short amount of time.

This probably won't fair well for the campaign against building over the Chinese Diggins site either.

[Robert Giacometti]

Interesting, the State sold 26 Acres and got almost $45 million in the worst economy in our lifetimes and the City of Folsom sold 33 acres during the boom times and only got $7.1 million.

Makes you wonder, or at least it should!

[eVader]

This is sad to hear. A large part of the appeal to move to Folsom was all the open space. We've been here since '04 and its unfortunate to see how much of the open space has been paved over in that short amount of time.

This probably won't fair well for the campaign against building over the Chinese Diggins site either.

Folsom isn't a concrete jungle but there isn't an abundance of open space except south of 50, Iron Point until a few years ago and this parcel along Folsom Blvd.

Just a matter of time before it is wall to wall houses and office buildings from the EDH\Folsom line to Hazel.

[SmartMoney]

It's legit. I know Mark Engstrom. They have grand plans for Folsom, and they're very excited.

I trust him and their experience. I approve!!

[MrsTuffPaws]

Really hoping this is an April Fool's. Now I'm sad.

[aztransplant]

Really hoping this is an April Fool's. Now I'm sad.

Don't say that too loudly . . . let's see how long it takes to get your post removed. (the previous two alluding to the April Fool's thing were removed at lightening speed).

[john]

I've let this go on long enough - of course it's not getting sold!!! Happy April Fool's Day, everyone...

[That Guy]

I've let this go on long enough - of course it's not getting sold!!! Happy April Fool's Day, everyone...

Very nice.