The 39,360-square-foot building, at 5110 Edison Ave., will be the headquarters office for the growing Farm Credit of Southern Colorado.
Farm Credit, which specializes in agricultural financing for farmers, ranchers and agribusinesses, is currently located at 3625 Citadel Drive South. The institution outgrew that facility, said Russ Tomky, president and CEO.
In 2000, there was consolidation of some Farm Credit institutions and Farm Credit of Southern Colorado doubled in size, going from a $342 million organization to a $750 million organization, Tomky said.
“With that kind of growth, our building was full in 2000,” he said.
Farm Credit will put its current building on the market for an asking price of $795,000.
The new building, which is expected to be completed by the end of 2012, will house the 21-member staff and the Farm Credit of Southern Colorado board of directors, with additional room for meetings and training.
“We are very excited about it,” Tomky said. “It’s been on the planning board for about four years.”
Farm Credit of Southern Colorado is part of a network of borrower-owned lending institutions with branches in Burlington, La Junta, Lamar, Limon and Monte Vista.