Citing Market Conditions, CalPERS Pauses Marketing For 301 Capitol Mall

A long-sought opportunity site for development in Downtown Sacramento is in quiet mode again, with the owner citing market conditions in pausing a marketing campaign to sell it.

The California Public Employees’ Retirement System is in no hurry to sell the full-block site at 301 Capitol Mall, so it’s waiting for more favorable winds to start pushing it again, said spokesman John Myers.

“The bottom line is it’s not a great time to be selling real estate,” Myers said, adding the property is still for sale and CalPERS is still accepting offers. “But we’re pausing the marketing until we evaluate the strategy to sell. The goal is to resume marketing when we think the economy dictates it.”