Deerfield, Ill.-CF Industries announced on March 16 that it has put the Terra Centre office building in downtown Sioux City, Iowa, up for sale for $10.5 million. CF acquired the 10-story building when they purchased Terra Industries last year. CF reportedly owns floors 2-10 of the Terra Centre, with most of the lower two floors under separate ownership. “CF Industries’ decision to sell the Terra Centre is consistent with the company’s plans to keep its corporate headquarters in Deerfield, Illinois, and to relocate staff to that office,” said CF Spokesperson Kim Mathers. “The Terra Centre is a well-maintained facility in an excellent location. The space that CF Industries owns is nearly fully occupied by paying tenants. CF Industries’ Sioux City employees will continue to occupy a significant portion of the building’s office space for many months, regardless of the timing of the building’s sale.” CF has hired Sioux City commercial realtor NIA LeGrand & Co. to market the property. CF said it is executing its plans to achieve a portion of its forecasted operating synergies through the elimination of overlapping positions, noting that some of the eliminated positions have been at other CF locations. A number of legacy Terra employees have accepted corporate positions and have relocated to Deerfield, the company reported, and some others continue to work for CF Industries out of their homes in the Siouxland area.
Transparency Across the Fertilizer Value-Chain