The firm, which will retain its downtown Dallas office, has leased 25,451 sf in Royal Ridge VII, part of a 1.2-million sf office park. The structure is now 70% leased. American Honda Finance had moved in two weeks ago to its 65,000 sf of office suites. The property fetches $21 per sf plus electric.

Bob Buell of CarrAmerica says he is optimistic that the project will lease up relatively quick. Royal Ridge VII is a joint venture with New York State Teachers' Retirement System. J.P. Morgan Investment Management Inc. is teachers' fund adviser in the project. "This important new customer will continue the development momentum," says Bill Vanderstraaten, CarrAmerica's managing director in Dallas. Royal Ridge is a 90-acre, master-planned office campus situated at the intersection of Royal Lane and Texas 114 and Beltline Road in the Las Colinas submarket. The park now contains four office buildings, with enough land for six more. Capital One, Cendant, Freddie Mac and Verizon are primary tenants in the development.

The newest tenant, Sedgwick, is a 30-year-old company that's considered an industry leader in the provision of claims management services for workers' compensation, liability and disability. Sedgwick has 82 offices nationwide and more than 1,800 employees.