"We were able to renegotiate a 10-year lease with an existing tenant that had occupied the whole building, and the new owner will now market the rest of the building as multi-tenant," broker John Minervini ofCushman & Wakefield tells GlobeSt.com. Minervini headed a C&W team that represented the seller of thetwo-story, concrete tilt-up building, which is located at 2100 Route 66, about a mile north of the Foothill Freeway.

Minervini says the new, 10-year lease was a key to the transaction because the tenant, Chicago-based CCC Information Systems, had only two and a half years remaining on its existing lease. Under terms of the new lease, valued at $6.77 million, CCC will downsize from its former 84,000 sf to 45,000 sf. CCC Information Systems is a supplier of computers, software, Internet systems and related technology for the automotive claims and collision repair industries.

The Uhlmann Office had owned the project since it was built in 1985. Minervini describes the sale price as "slightly below market," although he adds that few if any comparable sales have occurred recently. Minervini's team, which included Robin Dodson and Erik Larson, also represented CCC in the lease.