Erie’s 717 State St., a six-floor office building that has served as the regional office of Highmark, has a new owner.
Erie Insurance, which has leased space in the building for a number of years, finalized a deal earlier this week to purchase the 118,999-square-foot building for $10.2 million.
The deed transfer was recorded in documents on file at the Erie County Courthouse and was confirmed by Matthew Cummings, spokesman for Erie Insurance.
Why is Erie Insurance buying the building?
Cummings said the previous owner of the building, listed on court documents as Josephine Covelli, trustee, approached Erie Insurance about its possible interest in buying the building.
“We already occupy three floors of that building,” Cummings said. “The acquisition made sense due to the adjacency to our campus and the fact that we have been leasing there for years.”
Will existing tenants be asked to leave?
He said all current tenants, which include a field office for the Social Security administration, will remain in place.