MAYFIELD HEIGHTS, Ohio -- Progressive Insurance’s Mayfield Heights office building has been sold, two years after the company announced its office downsizing.The insurance giant’s 104,221-square-foot property that sits on six acres at 6055 Parkland Boulevard, along Interstate 271, is about four miles from its former Mayfield headquarters.Cuyahoga County records show the property sold for $3.5 million on April 23. The four buyers were listed in records under generic LLC names, though the tax mailing address appears t...
MAYFIELD HEIGHTS, Ohio -- Progressive Insurance’s Mayfield Heights office building has been sold, two years after the company announced its office downsizing.
The insurance giant’s 104,221-square-foot property that sits on six acres at 6055 Parkland Boulevard, along Interstate 271, is about four miles from its former Mayfield headquarters.
Cuyahoga County records show the property sold for $3.5 million on April 23. The four buyers were listed in records under generic LLC names, though the tax mailing address appears to trace back to Time Equities, a New York City-based real estate developer.
Cleveland.com and The Plain Dealer reached out to Progressive, Time Equities, and CBRE, a real estate firm that marketed the property, for more information on the buyers and their plans for the property.
A listing from CBRE, which described the property as “Class A” office space, highlighted the building’s features, including a three-story atrium lobby, flexible office configuration and high-end amenities, like conference rooms, a fitness center with a locker room, and an outdoor patio.
Other features include a heated underground 45-space parking garage, as well as a large 485-space surface parking lot.
The building was pitched as a potential headquarters site, or as a leased space for multiple offices.
In August 2022, Progressive announced it was offloading several of its office buildings in the eastern suburbs, including the 6055 Parkland property, because a large number of its employees had chosen to continue working remotely in the wake of the COVID-19 pandemic.
In December 2023, Progressive sold one of its campuses, at 747 and 755 Alpha Drive, to Park Place Technologies.
Its former headquarters, at 6300 Wilson Mills Road, was put on the market in 2024.
The company’s corporate headquarters is now located on North Commons Boulevard in Mayfield.