Enterprises closes deal for $6.25 million

University Enterprises, Inc. sold the Adams office building at 7750 College Town Dr. in the Campus Commons area to the Tcherkoyan Family Trust for $6.25 million.

Executive Director of UEI Matt Altier said the revenue from selling the building will possibly go toward future projects.

“The (funds) are in a building investments budget now, but will most likely be used to renovate and build new buildings,” he said.

Bruce Hohenhaus of Colliers International, who represented UEI in the sale, said the sellers sold the building because they “foresaw expenses to refurbish the building and thought it was a good time to sell it.”

The first and second floors of the Adams building were used for various Sac State entities, while the third floor was used by a law firm.

Rich Ellsworth of Cornish & Carey Commercial-ONCOR represented the buyer. Ellsworth said the Tcherkoyan Family Trust will lease the building out to private sector tenants.

“(The building) is an investment,” Ellsworth said. “The buyers liked the quality and the location (of the building).”

New California laws

Below is a list of laws enacted Jan. 1, 2008:

– SB 7 (Smoking): Smoking in the car while a minor is present is not permissible. The crime is punishable

up to $100 in fines. Police officers must first pull a driver over for another traffic offense, such as speeding, and only then can they give a smoking fine.

– AB 1835 (Minimum Wage): Minimum wage rose from $7.50 an hour to $8.

– SB 250 (Gift Card Redeem): Shoppers with gift cards may return

them to their retailers for cash as long as the card amount does not exceed $10.

– AB 452 (Voter Fraud): Requires county registrars to notify voters when papers have been filed to change their party affiliation.

This legislation was created in response to past complaints from voters whose party affiliation was changed without their knowledge.

– SB 190 (University Compensation): Requires the California State University trustees and University of California regents to provide information about compensation for select executives to the public and to give the public an opportunity to comment.

– AB 1548 (Textbook Prices): Requires publishers and college bookstores to release the cost of books to faculty members when they are deciding which textbooks are required of students.

– AB 682 (HIV Testing): Allows doctors to test routinely for HIV without a written consent from the patient. However, patients have the right to decline such tests.

– AB 702 (Live Performers): Prohibits performing live music under the name of a recorded group unless the performers hold a trademark, the event is advertised as a tribute, the performing group has authorization or at least one of the performers was a member of the original music group.