Cushman & Wakefield Team Represents State Farm Insurance in S.F. North Bay's Largest 2013 Office Sales Transaction
ROHNERT PARK, CA – January 6, 2014 – Cushman & Wakefield, the world’s largest privately-held real estate services firm, announced today that a West Coast brokerage team led by Senior Director Sean Heaton of the Portland, Oregon office, represented State Farm Insurance in the sale of a 283,230-sq. ft. office property on a 29.88-acre site in Rohnert Park, California. The deal was the San Francisco North Bay area’s largest office sales transaction in 2013.
In addition to Heaton, other members of the Cushman & Wakefield brokerage team that advised on the transaction include: Executive Director Glen Dowling and Director Tony Sarno of the San Rafael, California office, and Senior Director Dennis Richardson of the Los Angeles West office.
The State Farm transaction was especially notable given the size of property and the fact that it was vacant and sold without any new entitlements. Buyer was JNI, LLC (SunCal). Sale price of the property, which served as a former State Farm claims facility and call center, has not been disclosed.
The transaction closed on December 23, 2013.
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and nearly 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
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