Progressive Insurance’s first headquarters building in Mayfield Village remains unsold after nearly two years on the market (LoopNet). CLICK IMAGES TO ENLARGE THEM.
No takers after nearly two years
One of Northeast Ohio’s largest for-sale office properties will soon be put up for bid. Progressive Insurance’s first headquarters campus it constructed in the eastern suburbs is scheduled for a Feb. 2, 2026 auction.
This turn of events is the result of the property, called Campus One, being on the market for nearly two years and not selling. The size of the vacant buildings, rather than their conditions or price, is a compelling factor in it being a difficult sale.
CBRE, Inc. is the exclusive advisor to Progressive Insurance in the sale of the complex that was built between 1973-94. It is offering Campus One for sale to qualified users, investors and/or developers at a minimum bid of just $2 million.
“The campus is comprised of three well-maintained office buildings located at 6300 Wilson Mills Rd., measuring approximately 640,736 square feet,” CBRE’s auction introduction says. “The campus offers a unique opportunity for a buyer or developer to enter and develop within the affluent East Side submarket of Cleveland.”
The site offers 42 acres of highly visible land next to Wilson Mills’ interchange with Interstate 271. CBRE notes that the office buildings are connected on the ground floor with below-grade access points. There are also three parking decks with a total of 2,584 parking spaces.
Interior of the massive but vacant Progressive Insurance headquarters on Wilson Mills Road (LoopNet).
Although NEOtrans broke the story in July 2023 that Campus One and other Progressive properties around the country were going on the market, their for-sale listing didn’t officially go public until April 2024.
“Progressive’s massive reduction of office space and its delivery to an already supply-saturated office market will strain the creativity of potential buyers and developers in deciding how best to repurpose it,” NEOtrans reported at that time. “Regardless of where the office property is, be it downtown or in the suburbs, an unhealthy portion of it is coming up for grabs.”
Thousands of Progressive employees who began working remotely during the pandemic starting in March 2020 never returned to the office. Similarly, employees at many other companies didn’t return either, severely depressing the office market at that time.
“They failed to sell it conventionally, so an auction gives surety of close at a market clearing price,” said Terry Coyne, executive vice chairman in the Cleveland office of commercial real estate services firm Newmark.
Fitness center in the Progressive Insurance headquarters which is being maintained despite sitting empty for almost six years (LoopNet).
Another Progressive office complex in Mayfield, called the Alpha Campus, was previously on the market. But it sold in 2024 to Park Place Technologies, a global data center and networking optimization firm. It paid $17 million for the 23-acre, six-structure Alpha Campus located at 747-755 Alpha Dr.
“They gave away the other building to make a deal, so clearly Progressive wants to make a deal,” Coyne added.
Since Progressive was willing to make a deal with the Alpha Campus, why didn’t Campus One sell? Coyne said he doubted it was the price.
“There’s still a very strong office market in Cleveland,” he said. “Our team did four headquarters deals this year. The smallest one was 40,000 square feet. There’s still a market for good quality assets. And this is a great complex.”
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