ALLENTOWN, Pa.- Less than five years after celebrating a multimillion-dollar renovation of its flagship building in Allentown, Capital Blue Cross is exploring a possible sale of the property.
The three-story, 42,684 square-foot building at 1213-1225 W. Hamilton St. is listed for $5.9 million.
Brian McDonald, a spokesperson for Capital Blue Cross, said the insurance company has no plans to leave Allentown; rather, the company is exploring its options in a post-COVID world. “We have a hybrid workforce, largely,” McDonald said.
In fact, not only does Capital Blue Cross plan to stay in Allentown, it plans to stay in the Hamilton Street building itself, but use less of the space it currently occupies.
If the property is sold, the company will seek to lease space within the building, McDonald said. A second option would be for Capital Blue Cross to remain the owner, but lease space to another tenant.
“Allentown and the greater Lehigh Valley really are such an important part of our footprint,” said McDonald. “We’ve been there for decades and plan to be there long into the future.”
The property includes an adjacent parking lot, and a second lot at 1401 W. Hamilton St.
According to Lehigh County property records, the building went up in 1970.
In December of 2021, Capital Blue Cross celebrated a $4 million renovation of the site, which included adding a health and wellness center on the ground floor. Capital Blue Cross President and CEO Todd Shamash joined local leaders for a ribbon-cutting ceremony at the time.
Capital Blue Cross celebrates $4M renovation to Allentown regional headquarters
“This is more than an investment in a building,” Shamash said during the ceremony. “It’s part of our continuing investment in a vibrant region we consider home.”
Capital Blue Cross is headquartered in Harrisburg. The Hamilton Street site serves as its Lehigh Valley headquarters.