Broker Does Three-Lease Package for Insurer

CHATHAM, NJ-State Farm Insurance and commercial real estate firm the Garibaldi Group, based here, have had a long-term working relationship in the Northeast. That relationship paid off for both when the nation’s largest insurer of cars and homes signed three separate leases in transactions arranged by Garibaldi.

In the largest of the three, State Farm took more than 40,000 sf at 4 Becker Farm Rd. in Roseland, NJ. The space will be used as a claims processing center when the tenant takes occupancy in the first quarter of next year.

State Farm will utilize the other two locations as field offices. The company signed for just under 5,000 sf at Renaissance Corporate Center in Old Bridge, NJ, and then promptly signed up for just under 4,200 sf at 2000 Lenox Dr. in Lawrenceville, just outside of Trenton. The latter property is currently under construction by Brandywine Realty Trust Development.