Story by Guest Blogger Travis Zeiler
Research Analyst
Cushman & Wakefield Sacramento
Say Hello to DOCO
Construction for the new Golden 1 Center arena, home of the NBA Kings and Downtown Commons (DOCO) in Sacramento is coming together day by day.
Replacing the space formerly occupied by the Westfield Downtown Plaza, this fabulously modern new development is being positioned as an exclusive and premiere sports, entertainment and dining venue. Sacramento will never be the same.
The anticipated economic impact on the entire region is projected to be significant. DOCO is situated directly adjacent to Golden 1 Center and will provide a major retail, dining, hotel and living experience in the heart of downtown Sacramento.
Kimpton Hotel
For visitors who want to stay at DOCO, the development will even include one of the most eclectic and forward-thinking hospitality brands in the world: a 250 room Kimpton boutique hotel, well known for their high quality service and very trendy interiors and accommodations.
Seeing is believing, and with the construction progress the questions of how these multimillion dollar projects will improve life in the Capital are coming into focus. With the Golden 1 Center nearing completion and the mixed use tower going vertical, the project which was once a vision is now becoming a reality.
Nothing Quite Like It
Although creating plazas with retail and restaurant options are becoming a popular feature of professional sporting venues, DOCO is clearly and uniquely tailored to the Sacramento and Northern California region.
To the South, LA Live – constructed in 2007 after Staple Center opened – was among the first generation of a connected plaza. Together, Golden 1 Center and DOCO are creating a new common ground for Sacramento. In a few short months, Sacramentans, their guests and visitors will travel to enjoy the best of the region – dining, entertainment, retail and more.
At the very core of the project’s planning has been the mantra to create something that is “Uniquely Sacramento” for the region to celebrate, enjoy and visit often.
Questions of Economic Impact
A key aspect of real estate valuation is the principle of substitution, and with a proportionate shift in scale when considering the numbers involved, the following considerations can be explored by observing what has transpired in Los Angeles:
– How did the economy improve?
– Did certain industries thrive while others took a dive?
– How did increased traffic levels affect the lives of locals?
– Did any of these developments bring the anticipated number of jobs to their area?
Energizing Downtown
Downtown Sacramento has historically been a 9 to 5 government town that was relatively deserted outside of business hours. Even with a shopping center located blocks from the State Capitol, in a district where over 100,000 workers travel to daily, Downtown Sacramento remained sleepy and often neglected.
The project will be a welcome improvement to what has long been a blighted downtown and the improvement spillover is already noticeable, with many of the neighboring blocks under construction for cosmetic overhauls and physical enhancements.
While Sacramento will likely never be the metropolitan behemoth Los Angeles is, The River City has a sizeable amount of valley space, ripe for development – and offering a plethora of viable opportunities to expand, unlike The City of Angels.
Let’s Be Positive!
To be optimistic, we can say that the new arena and shopping/entertainment center could be the catalyst that catapults Sacramento into the “major city league “. As long as we don’t see the traffic rise faster than the Sac Metro GDP, the next decade promises be an exciting time to live in the Capital – or as we locals say “Sactown”.
Interested in Leasing Space?
All leasing efforts for retail and restaurant space are being led by Cushman & Wakefield Director David Scanlon. David can be reached at 415.658.3612 – email: david.scanlon@cushwake.com
Excerpt from the DOCO Website
HELLO DOCO
It’s a night on the town with best friends or a seat in the plaza with coffee and a sketchpad. Seeing your favorite band for the first time. Sitting outside in the warm air with a craft cocktail. Surrounding yourself in amazing art and architecture. Staying at one of the most eclectic hotels in California. Shopping at one-of-a-kind boutiques alongside the most recognized global brands. DOCO is where the locals hang out and visitors from around the globe experience this region at its finest. Sacramento is the next Great American City…and DOCO is our common ground.
DOCO Reveals First Restaurant Tenants
DOCO Website
Leasing Information
Golden 1 Center
All Images Courtesy of Sacramento Kings
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