Farmers Insurance to Sell & Leaseback Headquarters in Washington

Businesswire - December 22, 2005

Farmers New World Life Insurance Company, the nation's third-largest personal lines property & casualty insurance group, announced today the sale of its headquarters property at 3003 77th Avenue S.E. on Mercer Island, Washington. Farmers has committed to a lease back of the property for 15 years. The decision to sell the building is part of Farmers' continued efforts to enhance operating efficiency and follows similar real estate transactions at other locations. For example, Farmers recently sold its Home Office headquarters complex in Los Angeles but leased the complex back on a long-term basis.

Farmers, which has a long history in the Seattle area, remains committed to the Mercer Island area for its life insurance company operations. The life company currently serves life insurance customers in 41 states. Farmers Life employs 550 people at its Mercer Island headquarters. Sphere: Related Content