Friday, May 21, 2010

Groundbreaking - Banner Life

Natelli Communities is pleased to announce that construction on Banner Life Insurance Company’s new headquarters facility in Urbana, Maryland is underway. The two‐story, 115,000 square foot, class A office structure will be comprised of two buildings with a center courtyard, designed so that it can be expanded.

Tom Natelli, CEO of Natelli Communities and Developer of Villages of Urbana and Urbana Corporate Park, said Banner began looking for a new location two years ago. “Banner wanted to be sure that the building would be ready for them. They needed certainty and we could provide that.” The fabric of the community has become a reality over the last decade. “First you have the homes, then the retail and finally the office buildings. This is a great place to live and work,” said Natelli.

Banner Life will relocate 400 employees from its Rockville offices to the planned $33 million center in Urbana. Frank Gencarelli, Senior Vice President of Distribution & Marketing for Banner Life said more than half of his employees live closer to Urbana than Rockville. “We are not a household name, but are the largest writer of term life insurance. Our name is well known in the industry.” Gencarelli went on to say, “It will give us a better place for our customers as well. They can come here for education and to deepen the relationships that are so important to us in the insurance industry.”

Jan Gardner, President of the Frederick Board of County Commissioners spoke highly of Tom Natelli’s commitment to Urbana and Frederick County. Gardner stressed, “Tom has consistently shown a commitment to Frederick County. He works well not only with businesses, but with the community. All that is reflected in what has been done in Urbana.
Banner Life Headquarters in Urbana Corporate Center is designed by Davis, Carter, Scott. Construction Management efforts are at the direction of Akridge. The tenant, Banner Life, was represented by Jones Lang LaSalle and the landlord, Natelli, was represented by McShea & Company, Inc.