A Bay Area investor is making another Sacramento office building buy, and for more than just competitive prices.

John Foggy bought a two-story building of 83,783 rentable square feet this month at 2825-2829 Watt Ave. for $7.63 million, said broker Anton Qiu.

The purchase, part of a 1031 exchange, also is tied to Foggy’s plans to eventually retire to a ranch he owns here, said Qiu, of TRI Commercial in San Francisco. More affordable property values in the Sacramento region versus the Bay Area, where Foggy sold in the up leg of the exchange, also played a role, he said.

Kaiser Permanente occupies 41 percent of the building with a long-term lease, Qiu said. Foggy plans to improve and then re-lease the remaining portion.

“I think the previous owner was in the Bay Area and didn’t pay a lot of attention to it over the years,” Qiu said.

The property also includes 302 parking spaces, 79 of them covered, Qiu said.

Last fall, Foggy bought a building on Madison Avenue. Qiu and Mark Gedymin of TRI Commercial represented the buyer in the sale, while Randy Getz and Matt Post of CBRE represented the seller.