Golden Living placed its corporate administration building in Forth Smith, Ark., up for sale or lease on Tuesday, with real estate broker CBRE hired to handle the property.
Golden Living is expected to maintain a presence in Fort Smith, Pat Powell, vice president of Human Resources at Golden Living, told the Times Record. However, staffing levels at the administrative offices are down to about 400 employees, compared with approximately 900 a few years ago, the paper reported.
The property is valued at about $33.6 million per the Sebastian County Assessor’s Office, the Times Record said, and measures 318,000 square feet.
The Fort Smith building had been the corporate headquarters of Golden Living forerunner company Beverly Enterprises; after that publicly held company was taken private by the San Francisco-based Fillmore Capital in 2006, the name was changed to Golden Living, Talk Business & Politics noted. The provider moved its headquarters to Plano, Texas in 2011, and the Arkansas facility became an administrative office.
Even if the building is sold, Golden Living isn’t set on abandoning Arkansas entirely.
“If or when a sale takes place, our current plan is that Golden Living would lease a portion of the office space back or relocate the current employees to another space in or around Fort Smith,” Golden Living spokeswoman Kelli Luneborg-Stern told Talk Business & Politics.
CBRE touted the property’s executive office level, cafeteria, and data centers in a release promoting the office. The announcement primarily positioned the facility for sale, with a note at the end indicating that “the seller is also open to negotiating options for a long-term lease.
“CBRE is pleased to announce its partnership with Golden Living to market this unique corporate campus offering on a national platform,” CBRE’s David Erstine said in the announcement.
Written by Maggie Flynn