Auto insurance company will relocate two business units

Palisades Safety & Insurance Management Corp. will be moving about 100 employees from its commercial auto underwriting and southern New Jersey claims operations to an office building in Farmingdale, the company announced.
The employees currently are based out of 4 Paragon Way, in Freehold.

The auto insurance provider has leased the entire 26,683-square-foot office building at 5006 Belmar Blvd., in the Monmouth County borough, according to commercial real estate services firm Studley, which represented the company in the lease deal.

“It’s a brand-new building and offers ample room to grow in anticipation of any future growth and any acquisitions we may have,” said Karen Murdock, vice president of marketing and communications of Palisades, which is based in Berkeley Heights. Future growth of the company would involve expanding the firm’s commercial and personal auto businesses, she said.

The new facility, which is owned by Bollerman Development Corp., also allows the two Palisades business units to have their own standalone facility with signage in a highly visible location on Route 34, Murdock said. Those operations share its current building in Freehold with a number of other companies, she said.


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