John Bral of Beitler tells GlobeSt.com that the insurance company expanded from about 8,000 sf in the former Fluor Corp. headquarters building, where Prudential has maintained offices for about five years. Bral represented the insurance company, with building owner, Blackstone Property Management, using an in-house broker to bargain the terms.
Bral says Prudential's former lease was good until July in the 10-story, steel frame and glass building along the 405 Freeway. The 236,000-sf office tower is 86% occupied. It was built in the mid-1970s and served initially as the worldwide headquarters for Fluor, an international engineering and construction company.
Blackstone acquired the property last year as part of a $200-million purchase of the 1.7 million-sf Park Place development along the 405 Freeway. Park Place is the largest office campus in Orange County and its sale was described at the time as the largest California office property sold in the past year in terms of rentable sf.
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