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SAN DIEGO-Arrowhead General Insurance Agency has signed a $19.1-million, 10-year lease to move its corporate headquarters to 701 B St. in Downtown San Diego.

The company, which is one of the nation’s largest privately held general insurance agencies in the country, will be relocating from space it currently occupies in two other Downtown facilities – Emerald Plaza and Koll Center. According to the terms of Arrowhead’s freshly inked agreement, it will take 67,703-sf in the B Street facility. Its offices will be housed on floors 20 through 22, which were formerly occupied by the Latham & Watkins law firm. Arrowhead General plans to move in once Latham & Watkins relocates early next year to its new 80,000-sf home in One America Plaza.

“This lease marks the culmination of an exhaustive search to meet Arrowhead General’s desire to accommodate projected growth over the next 10 years while retaining a center city location,” says Barry Mahlberg of Burnham Real Estate Services. Mahlberg acted on behalf of Arrowhead General in the recent lease transaction.

Arrowhead General signed a letter of intent in 2000 to take space in a proposed East Village Square office building that was slated to rise adjacent to Petco Park. However, delays with Petco Park and East Village Square rendered it necessary for the insurance agency to look at other alternatives to house its corporate headquarters.

“This move will allow us to consolidate our operations into a contiguous location, enhancing our overall efficiency and improving communication at all levels of our organization,” says Pat Kilkenney, chairman of Arrowhead General.

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