The 241,688-square-foot office building that used to house Harleysville Insurance has been put up for sale by Broadstone Net Lease, writes Natalie Kostelni for the Philadelphia Business Journal.
The building is currently vacant but leased to Nationwide Mutual Insurance, which has now decided to shift to remote work permanently.
Broadstone is also selling a Harrisburg property it acquired together with the Harleysville building in May 2016.
The company paid $54.6 million for both buildings. At the time the two properties were under one master lease for the initial 12-year term.
The Harleysville complex had long served as the corporate headquarters of Harleysville Group until the company was acquired by Nationwide in 2012.
The 355 Maple Avenue property was built in 1950. The complex consists of several two- and three-story structures set on 48.7 acres. After acquiring Harleysville, Nationwide spent $23 million renovating the space.
The property on which the Harleysville Insurance/Nationwide building sits is zoned AO – Administrative Office.
“We have a lot of different people looking at it for a lot of different uses,” said Mike Margolis, a Newmark broker who has the listing along with Ryan Guittare.
Read more about the Harleysville Insurance building in the Philadelphia Business Journal.