The divisional pull-out will drive the transfer of 75 employees in its financial services center to Northrop's facility in nearby Grand Prairie while 100 will be uprooted to California. Northrop's facilities director Paul Haller says corporate will participate in finding a fill-in tenant, but the plan is to hire a local broker to hawk the space at 225 E. John Carpenter Freeway. The move is to be wrapped up by year's end.
Northrop is looking to save on the bottom line and recoup greater efficiencies by placing headquarters functions closer to the sector's largest business unit. The ISS has been based in North Texas since 1999. It currently employs 230 in its Las Colinas office.
"Since Southern California is home to several of our most dynamic and promising programs...therefore it makes sense," Scott Seymour, Northrop Grumman's corporate vice president and president of the ISS division, said in a prepared statement. The headquarters change does not affect ISS operations in Melbourne, FL or Bethpage, NY.
Colonnade Plaza II is owned by New York City-based Colonnade Properties. It is a 16-floor, 352,165-sf, class A property built in 1979 that has had its common areas recently renovated.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.