Farmers Insurance and CIM Group Report Sale Leaseback of Wilshire Campus Home Office

The phased transition to Farmers Plaza at Warner Center began last year with the move of several employees into the new location. Later this year through early 2019, additional employees will be shifted to the office at Warner Center; a total of over 1,500 employees will make this transition. Eventually, all employees located at the current Home Office campus will be moved.

"This is an unparalleled opportunity to acquire a substantial property on Wilshire Boulevard in this desirable neighborhood," said Shaul Kuba, Founding Principal of CIM. "We are pleased to have worked with Farmers Insurance on this transaction, and that it will continue as a tenant at the property until it has completed its transition, while maintaining a strong presence in Los Angeles in both locations."

The current Wilshire Campus is a centrally located urban office campus, featuring large landscaped plazas and open space creating a park-like setting in the heart of the bustling Wilshire Corridor. The Wilshire Campus is comprised of four full city blocks on Wilshire Boulevard bounded by Keniston Avenue to the west and Muirfield Road to the east in the Park Mile district in Los Angeles. It is located one-half mile from the Metro Purple Line subway station under construction at Wilshire and La Brea Boulevards. The campus is also adjacent to some of Los Angeles' most prominent residential neighborhoods including Hancock Park and Windsor Square, and offers access to the rich retail and restaurant environments in the neighboring Miracle Mile district, Larchmont Village, and the greater Wilshire Corridor.

CIM is an investor in urban communities throughout North America and identified the nearby Wilshire Corridor/Park Mile area as a district that meets the firm's strategic investment guidelines. It is proximate to numerous CIM office, retail, studio, hotel and multifamily residential investments in other of its qualified communities such as Hollywood, West Hollywood, Koreatown, Midtown and Downtown Los Angeles.

Farmers Insurance Group of Companies is a U.S. insurer group of automobiles, homes, and small businesses and also provides a range of other insurance and financial services products.

CIM Group is a real estate and infrastructure investment firm.

More Information:

http://www.farmers.com

http://www.cimgroup.com

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