CBRE Appointed Exclusive Sales Agent for Five Progressive Properties

12710 Voyager Parkway, courtesy of CBRE.

CBRE has been appointed the exclusive sales agent by Progressive for a 1.8 million-square-foot, five-site office portfolio located across Colorado, Ohio and Florida. A portion of the assets in Colorado and Florida are being offered as sale leasebacks by Progressive, who will fully occupy those buildings.

CBRE’s Kevin Yates and Jamie Dunford will market the portfolio on behalf of Progressive. CBRE’s Kyle Sals is marketing the sale leaseback assets.

“It is a privilege to be trusted by one of the largest and most successful companies in the U.S. to take on this important strategic initiative,” said Yates. “A project of this scale is a challenge, but we’ve aligned ourselves with trusted CBRE colleagues in each of these respective markets to ensure a successful outcome.”

The five office properties were built between 1974 and 2013 and include:

  • Voyager Parkway, is a 328,327-square-foot, Class A property located at 12710 Voyager Parkway in Colorado Springs. The site includes three interconnected buildings and features a full-service cafeteria, training/conference rooms and a fitness center.
  • Progressive Campus 1, a 640,736-square-foot, Class A property located at 6300 Wilson Mills Road in Mayfield Village, Ohio. The site includes three ground-floor connected buildings and has served as Progressive’s original headquarters since 1974.
  • Parkland Boulevard, a 104,221-square-foot, Class A property located at 6055 Parkland Blvd. in Mayfield, Ohio, within the Mayfield Heights east side submarket, proximate to several corporate headquarters. 
  • 1 and 2 ASI Way, a 241,310-square-foot, Class A campus located at 1 and 2 ASI Way N., in St. Petersburg, Florida. Amenities include an eco-friendly outdoor plaza, balcony space, jogging trails and a fitness center.
  • Progressive Riverview South, a 310,940-square-foot, Class A property located at 4030 Crescent Park Drive in Riverview, Florida. The site includes four buildings and has served as Progressive’s second-largest customer service center behind Progressive Campus 1 since 1998.

“Progressive offers flexible work options for many of our employees with many people choosing to work from their homes,” said Kevin Smith, manager of real estate services for Progressive. “Our data shows there simply aren’t enough people using some of our properties to justify keeping all of them open. As a result, we’ve decided to consolidate several of our properties, while choosing to list some of the others for sale and/or lease.”

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