Several weeks ago, the nation’s largest property and casualty insurance provider announced that they would be looking for a new home for their Southern headquarters, and that the Central Perimeter submarket had caught their eye; a spokesperson for State Farm Insurance company identified both Hammond Exchange and The Terraces as potential candidates for the expansion, although a final decision was not reached until the closing days of January. State Farm decided to sign a 5 year lease for 185,000 SF in Hammond Exchange, the same building that Australian shipping and container company CHEP relocated their US headquarters to last year. Some speculate that the lease term is shorter than what would be expected for a deal this size because of the potential construction of a State Farm campus in the area, similar to the one that brought almost 150 to the Johns Creek area.
The 800-job expansion to 64 and 66 Perimeter Center East is just one addition State Farm plans on making to the Central Perimeter submarket in the coming years. State Farm announced this past June that it plans to open a 425,000 SF, 2,000 person capacity customer service center, which will handle customer services issues like claim processing assistance, providing quotes to potential customers, and providing after-claim support.Share