A local business is staying in Sacramento as other companies look elsewhere for industrial space.
Box Bar, a gift concierge business, has leased 8,301 square feet of industrial space at the Capitol Industrial Center South at a time when other companies are moving outside the market, a vote of confidence that earned the deal a CoStar Impact Award as judged by real estate professionals familiar with the market.
The woman-owned business is expanding into South Sacramento’s Mather market. The market is known for higher rents than the greater region, and it was one the biggest beneficiaries of an industrial boom a few years ago.
That surge in supply has since ebbed as the market has cooled and larger tenants leave the area only to be replaced by regional concerns requiring smaller footprints.
About the property: The property also offers flex office space and is owned by Newport Beach-based BKM Partners.
What the judges said: "Great example of facilitating the growth of a small, women-owned business creating jobs in the region," wrote Troels Adrian, executive vice president at the Greater Sacramento Economic Council.
They made it happen: Lenny Gold, senior associate at Cushman & Wakefield, represented the landlord BKM Partners.
CoStar Market Manager Brian Feller contributed.