Park Place buys Progressive campus for $17 million

HIGHLAND HEIGHTS, Ohio — Park Place Technologies has officially bought its new headquarters, closing a deal to buy an office campus from Progressive Insurance for $17 million.

The sale was first announced in December and includes three buildings at 747 and 755 Alpha Drive, north of Wilson Mills Road in Highland Heights, and is one of a few campuses that Progressive had along that road near Interstate 271.

Progressive has been consolidating its real estate footprint, and even closed its main headquarters, as many employees still work remotely instead of in the office.

The campus was sold for $17 million, according to Cuyahoga County property records posted online Friday. County records say there’s about 300,000 square feet of office space across the campus. The campus also has warehouse space and a 165,000 square foot parking garage.

“We wanted to remain close to our current Mayfield Heights HQ location, to reduce disruptions for our employees,” said Chris Adams, Park Place’s president and CEO. “We also wanted to consolidate our Cleveland locations, including a warehouse in Solon, Ohio, and have confidence we can accommodate the needs of our growing employee family in the new Highland Heights facility.”

Park Place, a data center and networking optimization firm currently headquartered in Mayfield Heights, said it plans to move into the new headquarters by the end of 2024. The company said it needed a new headquarters because it has been expanding, and will have about 500 employees in the new headquarters when it opens.

The company said it will consolidate office space, a warehouse and a test lab at its new space. It is also looking at adding employee amenities, like an expanded fitness center, an on-site daycare space, a larger cafe with recreational space and outdoor amenities — like basketball and pickle ball courts.

Progressive said in December that the buildings were unoccupied. The company embraced employees working from home during the COVID-19 pandemic. And many workers are continuing to choose to do so, Progressive spokesman Jeff Sibel said at the time.