State Farm's property on Pantops in Albemarle County is up for sale.
The insurance company confirms it has put its 362,000-square-foot operations center on the market as part of what it calls a flexible real estate strategy. Any buyer for the building would agree to lease the facility back to State Farm for 15 years with the option to twice renew for five years each.
Anna Bryant, a public affairs specialist for State Farm, issued the following statement:
"The sale and leaseback provides greater flexibility. The lease term is not an indication of the tenure of future operations in our Charlottesville Operations Center. State Farm continues to use our this facility to support our work and serve our customers. Our operations will continue as they are today, as we are leasing the facility back once it is sold. The sale of does not indicate a change in our workforce in Charlottesville."