Case Study

California Casualty

Professional Services

Savills Uses Global Marketing to Secure Record Sale Price


Founded in 1914 in San Francisco, California Casualty Management Company is a fourth-generation family-owned company. A pioneer in group auto insurance since 1951, California Casualty now provides auto and home insurance to public service professionals across the country: educators, law enforcement, firefighters and nurses. Now headquartered in San Mateo, Calif., it employs 700 people and operates service centers in Leawood, Kan.; Glendale, Ariz.; and Colorado Springs, Colo.

California Casualty sought to monetize the 11-year investment in its Colorado Springs facility without disrupting its tenancy there or impacting its commitment to the community. It hoped to capitalize on three factors: its good credit, the current capital markets environment and FASB lease treatment.


Savills worked with California Casualty management to complete a detailed underwriting study and formulate a proposed leaseback structure that would meet its financial objectives while maximizing market value of its building. With this study complete, Savills marketed the property globally (rather than locally) as a stabilized net leased asset. Once a buyer was selected, Savills and California Casualty executed on the sale and leaseback within a compressed timeline.


The transaction shattered per-square-foot sale records in the Colorado Springs submarket. In the process, California Casualty was able to secure a stabilized long-term lease at the property. This solution allowed California Casualty to maintain control and ensure that its operations would not be disrupted.