BRIEF: State Farm sells Tulsa Operations Center

Dec. 03--State Farm's Operations Center in east Tulsa sold to a business entity for nearly three times its assessed value.

Tulsa County land records indcate State farm sold the 288,000 square-foot building at 12222 State Farm Blvd. to LSREF2 Tractor REO Direct for $45.1 million.

Tax records indicate the building has an assessed value of $18 million.

Jim Camoriano, a spokeman for State Farm, said in August the company intended to sell the building then lease it back for 15 years, with two five-year options to renew, potentially keeping the company at the site for the next 25 years.

The Tulsa facility was among 23 facilities in 18 states the insurance company intended to sell and lease back.

The three-story building, north of the Broken Arrow Expressway between Garnett Road and 129th East Ave., handles claims and underwriting fuctions and has several general departments including public affairs, human resources and administrative services.

___

(c)2013 Tulsa World (Tulsa, Okla.)

Visit Tulsa World (Tulsa, Okla.) at www.tulsaworld.com

Distributed by MCT Information Services