State Farm sells Columbia campus to Texas company
Insurance company will lease property for at least 15 years
State Farm Insurance has sold its Columbia campus to a Texas-based company.
Company spokesman Jim Camoriano confirmed the insurance company is selling nearly two dozen properties to Lone Star Funds as part of a package deal.
The Missouri Operations Center campus off South Providence Road is one of those 23 properties.
Under the deal, State Farm will lease the Columbia office back from Lone Star Funds. State Farm has agreed to a 15-year lease on the campus with two additional five-year options.
Operations and employees at the center will not be affected.
Monetary details about the deal were not disclosed.
State Farm is one of the top ten largest employers in Columbia, with more than 1,000 employees in the Providence Road facility.
Copyright © 2013 KMIZ - The Networks of Mid-Missouri. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.