GEICO Regional HQ Has New Owner

TUCSON-The regional headquarters facility of the company best known for having a computer-animated gecko as its representative has a new owner. West Coast Capital Partners of Torrance, CA, sold the 129,117-square-foot GEICO Insurance office campus to H.N. and Francis C. Berger Foundation of Palm Desert, CA for $17.8 million.

“The purchase by H.N. and Francis C. Berger Foundation represented an opportunity to own a well-located office asset for below replacement cost while reaping the benefit of an increasing cash flow from an AA+ credit tenant,” observes Bob Young with CBRE’s Phoenix office in a press release. GEICO has another five and a half years remaining on its lease at the campus, which is located at 930, 940 and 950 N. Finance Center Dr.