Nov. 17—SOMERSET, Pa. — Somerset Trust Co. is targeting a Somerset-area landmark to house its growing corporate headquarters.

Bank officials announced on Wednesday that they plan to purchase 80,000 square feet of property at Georgian Place, including several office buildings, as part of a move to consolidate offices and bring several hundred employees under one roof.

Nearly half of Somerset Trust's 450 employees are currently split among three different buildings in Uptown Somerset — and the company is outgrowing those places, CEO Sean Cook said.

"We strive to continue to be a premier employer in the region, and this is a unique location that gives us the space we need to continue to grow while maintaining our roots in Somerset," Cook said.

The company views the move as an opportunity to create a modern work space that will fit employees' changing needs, he said.

And developing a headquarters at Georgian Place will create opportunities for neighboring businesses, officials said. Cook envisions a unique "campus-like community" around the Somerset Trust headquarters — with room for retail, restaurants and complementary tenants.

"A number of the buildings (not included in the sale) there are owner-occupied, and I think they'll complement what we're trying to do," said Allison Hoffman, Somerset Trust vice president of marketing, noting that the development is already home to a gym and child care services.

"When it comes to employee well-being, health and fitness and other services are all huge priorities, and a lot of that is already in place," Hoffman said.

'Wonderful transition'

Properties included in the transaction include buildings in the 300 and 400 blocks of the development as well as several individual units, she said. The historic 1915-era mansion that overlooks Somerset Lake is not included in the purchase.

Terms of the tentative deal were not announced Wednesday.

The transaction must be approved by the Federal Deposit Insurance Corp., which oversees U.S. financial institutions for consumer protection, safety and soundness. The Pennsylvania Department of Banking must also approve the move, Somerset Trust officials said.

Hoffman said the timetable on those steps isn't a concern because it will likely be a few years before Somerset Trust is ready to make its move to the Somerset Township site.

SOAR Somerset LLC currently owns the properties, and the company issued a statement indicating that leaders were "excited" about Somerset Trust's plans.

"This is a wonderful transition for the property and an exciting new development for STC!" said SOAR Vice President Tonya Spangler, whose company purchased the property in 2005.

Much of the property surrounding the historic Georgian Inn just off North Center Avenue north of Somerset Borough previously served as a factory outlet shopping center — but by the 2000s, it transitioned into a mixed-use area that includes offices, nonprofits and medical services.

Boys and Girls Club of Western Pennsylvania's Somerset site director, Angela Weimer-Miller, said she was hopeful the move could be a positive step for the Georgian Place properties.

The nonprofit owns its building at Georgian Place and provides preschool, after-school and related child-focused services for youth in the region.

Weimer-Miller said that may appeal to the influx of working professionals who'd be relocating to the nearby Georgian Place properties.

"It sounds like a good thing," she said in a telephone interview Wednesday.

Somerset Trust has expanded in recent years, from 20 branches to 45, while assets have grown to $1.9 billion.

Cook said Somerset Trust plans to consolidate its presence at Georgian Place and make upgrades over a span of several years.

"We've been in business for over 130 years," he said. "We are developing this facility as a foundation for the next 130 years."