State Farm to vacate one of three Greeley buildings

GREELEY — CBRE is offering the north building at 1555 Promontory Circle for lease, one of three buildings that has been occupied by State Farm.

State Farm’s five-year lease expired this year, and the company has decided to rearrange its floor plan to consolidate employees into two buildings rather than three, a spokeswoman for the company said in an email to BizWest.

The company’s employee count — about 1,100 employees in Greeley — will stay the same, said Angie Harrier, State Farm public-relations specialist.

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The building is more than 150,000 square feet and is being leased for $15 per square foot. The building is three stories and can be demised down to 40,000 square feet. The campus includes parking.

State Farm will continue its operations at the central and south buildings of the campus.

“The arrangement helps us gain efficiencies by streamlining and improving processes, adapting to the rapidly changing needs and expectations of our customers, leveraging technology and optimizing available space in our current facilities,” Harrier wrote in her email.

State Farm used to own the three buildings — now two — it is leasing. In 2013, the company sold them, part of a larger sale of 23 buildings at 18 locations nationwide. State Farm built the buildings to form its Greeley Operations Center in the early 2000s and had a 15-year lease, with five-year options after that. At the time of the sale, State Farm said the transaction did not affect the lease. At that time, the company said there would be no layoffs of its then-1,300 employees.