Alfa Insurance is in negotiations to purchase the existing Capitol Commerce Center off I-85 in Montgomery as its new corporate headquarters.
“Technology and workforce changes have left about half our current space underutilized,” said Alfa and Alabama Farmers Federation President Jimmy Parnell.
Alfa went through an extensive evaluation of site options before deciding to focus on the center as its new campus.
“Alfa is proud to be an Alabama-based company with a rich history in Montgomery,” Parnell said. “Our goal is to continue investing in Montgomery by creating jobs and developing civic leaders who give back to the community. We appreciate the County Commission, City Council and Chamber of Commerce for recognizing the value Alfa brings to the River Region.”
According to WSFA-12, the Montgomery City Council and the Montgomery County Commission approved incentive packages in the amount of approximately $7 million for Alfa’s move to the east side of Montgomery. According to the news report, the city agreed to pay $4.3 million, while the county commission will pay $2.8 million.
During the next few weeks, Alfa will conduct due diligence with the goal of closing on the property by summer. Provided the purchase is finalized, the company anticipates a phased move-in following renovations.
Founded in 1946, Alfa has occupied offices in three different downtown Montgomery locations before moving to East South Boulevard in 1958. After a number of expansions, the total footprint is almost 500,000 square feet. Alfa plans to continue maintaining its current campus while seeking a buyer.
