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Dec. 5, 2013

Farmers Insurance Signs 10-Year Lease Extension for Olathe Office

By Gabriel Circiog, Associate Editor

Farmers Insurance recently announced that it has extended its lease for its national property claims division offices in Olathe. The announcement was made through The Kansas Department of Commerce.

Farmers Insurance currently has over 2,000 people working in four offices in Olathe and is one of the city’s largest employers. The 10-year lease extension will permit Farmers Insurance to retain 400 positions at its 100,000-square-foot-plus facility at 10551 South Ridgeview Road.

“We first came to Olathe and the Greater Kansas City area because of the quality of the local workforce and the healthy business environment,” said Rob Koch, head of Centralized Inside Property Claims for Farmers Insurance. “We have agreed to extend our commitment because we remain confident that this community is continuing the great partnership we have built together over the years.”

Kansas Commerce Secretary Pat George said: “Farmers Insurance employs many workers at several locations throughout Olathe. The jobs Farmers has created in Olathe are great for the Kansas economy, and I’m glad that the company has decided that our state is an ideal place to continue to grow and invest.”

In other local news, Bloomfield Capital has announced the closing of a $3 million senior bridge loan to purchase a limited service hotel in Overland Park on auction.com. Thanks to Bloomfield’s loan proceeds, the sponsors were able to finance the hotel property after having already put down a significant non-refundable deposit at auction. In a statement Jason Jarjosa, a principal at Bloomfield Capital, said: “Dependable bridge capital is still a rare commodity in today’s market, and when time is of the essence, execution is the most important component to success. Brokers and borrowers alike have come to know Bloomfield as a dependable debt capital provider.”

Logo Courtesy of: www.farmers.com

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