WOODLAND HILLS, CA-Farmers Insurance, which has been based in Southern California since its founding in 1928, will relocate 1,200 workers to 6303 Owensmouth Ave. from its offices in Simi Valley in a lease of approximately 180,000 square feet at the Owensmouth address. The insurance company says that the move from 3041 Cochran St. in Simi Valley will relocate the employees "to a newer, more modern facility" at the Woodland Hills location.
The insurance company, which expects to begin moving the workers in early 2011, says that the 1,200 employees represent approximately 20% of its Greater Los Angeles work force. Some Farmers employees are already based at 6303 Owensmouth Ave., which is branded with the name of 21st Century Insurance Co., but the name on the building will be changed to Farmers Insurance. Farmers acquired 21st Century in July 2009.
Terms of the lease, in which Farmers was represented by Nathan Piehl of Equis, were undisclosed. The building ownership was represented by Jim Lindvall and Ryan House of Jones Lang LaSalle.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.