Insurance giant State Farm is listing for sale its large Johns Creek campus as part of a national real estate initiative.
The Illinois-based insurer said on Tuesday the move will not result in any changes in its use of the campus, as the company intends to lease the property from the eventual purchaser.
State Farm spokesman Justin Tomczak said the move to sell the two Johns Creek buildings, where 2,000 employees work, is part of a broader corporate strategy to give State Farm flexibility and “meet changing customer needs and expectations.”
State Farm confirmed earlier this year it has targeted metro Atlanta for expansion, and the insurer has been among the more active recent players in metro Atlanta corporate real estate. The company has been on a hiring spree, gobbling up large chunks of office space in Dunwoody and recently slapped its name on towers overlooking I-285.
State Farm also leased millions of square feet of office space in Dallas and Phoenix as part of a shift in those key regional hubs. A possible sale of the Johns Creek campus has been speculated for months.
Overall, State Farm said it is selling 23 buildings in 18 different locations. The properties are being offered to individual bulk purchasers.
Tomczak said State farm will lease the Johns Creek properties for 10 years, with two five-year options to renew, though he stressed that the length of the lease should not be signal of “tenure of future operations.” The Johns Creek campus includes customer service, operations and support staff.
“Coming off of one of our strongest years across all product lines, our real estate strategy is driven by our commitment to flexibility to serve the needs of our customers” Tomczak said.