CYPRESS, CA-GlobeSt.com has learned exclusively that American Honda Finance Corp. has signed an 11-year, $6.5-million office lease with landlord Buzz Oates LLC. The agreement is for approximately 26,000 square feet on the ground floor of 10801 Walker St., a 108,000-square-foot, class-A office building here.
Jeff Coburn and Shaun McCullough, principals of Lee & Associates' Long Beach office, represented Buzz Oates, while AHFC, a consumer finance component for the Honda Motor Co., was represented by Timothy Vaughan of CBRE. “This is the financing arm for one of the world's most recognized automakers, which makes them a great addition to the tenant mix here,” says McCullough. “Selecting the right location was critical for their operations. This building is in a prime spot and includes above-standard parking, which was a strong factor in meeting their requirements. Both parties were very pleased with this transaction, which was in-the-works for two years.”
The property, built in 1998, is in the heart of four major freeways including the 605, 405, 91 and 22. Some of the corporate neighbors include United HealthCare, Mitsubishi and Panasonic. AHFC will be taking possession of the space in January 2014.
As GlobeSt.com reported in July, the land and buildings used for auto dealership Honda of Santa Monica at 1720 Santa Monica Blvd. have been sold for just over $22 million. The tenant will continue to operate the car lot, which has been at the same site for 40 years.
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