Business Journal: Amstar Wants IRS To Stay Put

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(Sacramento, CA)
Friday, October 5, 2007
Perhaps the sight of the IRS on the doorstep frightens many, but Amstar Group doesn’t mind. In fact, the real estate investment and development company would like to keep the IRS close. Amstar put down $23 million for the North Pointe Corporate Center, where the IRS is the main tenant. The four-story North Point was built in 1988 specifically to house the tax-collection agency. But the agency’s lease runs out in two years, and it is expected to solicit offers for new space. If the IRS vacates, Amstar will have to spend money for new-tenant improvements, marketing and commissions while much of the building sits empty. Currently, Maric College occupies one floor of the building, and about 10 percent is vacant.