The insurance company has signed a long-term deal to occupy a new 71,000-sf building in Roseville, as part of its consolidation plan to unite 12 Northern California auto and homeowner claims offices between Eureka and Truckee. The company plans to move between 100 to 300 employees to the building at 2995 Foothills Blvd. this spring. The lease rate for this space was unavailable.
The insurer also is expanding its existing 44,000-sf lease at EmeryTech in Emeryville by approximately 16,000-sf. This lease brings the 215,000-sf EmeryTech building, which is located at 1400 65th St., to full occupancy. Both the renewal and existing leases, which were negotiated by building owner Ellis Partners, LLC, last through 2009. The asking rate for this is $26 psf.
The move is part of State Farm's restructuring plan that will reduce the number of California claim offices from 66 to 20. According to a State Farm spokesman, State Farm is not cutting jobs. The company hopes to save $500 million over the next decade from the consolidations.
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