IRVINE, CA-The Fluor Corp. has signed a lease with the Irvine Co. for more than 169,000 sf of office space in the Discovery Business Center portion of the Irvine Spectrum. Jeffrey Osborn of Cushman & Wakefield tells GlobeSt.com that Fluor, a Fortune 500 company with annual revenues of $14.1 billion in 2006, will be expanding its Irvine office space by more than 100,000 sf.

Osborn was part of a Cushman & Wakefield team including Chris Bosley and Tom McDonald that represented the engineering giant, with the Irvine Co. represented in-house by Tom Greubel and Jeffrey Shaw. Fluor, which occupies 63,440 sf of space at 5211 California in the University Research Park near the University of California at Irvine, will move out of that 63,440 sf and into the 169,254 sf at the Irvine Spectrum this summer.

The Fluor division that occupies the University Research Park space and will be moving to Irvine Spectrum is its Energy & Chemical business unit. The unit’s new space will be in three buildings at 15440 Laguna Canyon Rd., 15460 Laguna Canyon Rd. and 47 Discovery, near the intersection of the Santa Ana and San Diego freeways.

Terms of the lease were not disclosed. Average asking rates for comparable space at the Irvine Spectrum were running at about $3.11 per sf per month as of the latest quarterly market reports for Orange County.

Two of the buildings Fluor will move into were previously occupied by Broadcom Corp. In March, Broadcom relocated to 685,000 sf of new space at University Research Park, and nearly all of Broadcom’s former space, which totaled about 445,000 sf in Irvine Spectrum, has been filled.

Luis Martinez, vice president and general manager of Fluor’s Southern California operations, says that the move will enable the company to consolidate a number of its Energy & Chemical division projects, “which will improve our operational efficiency.” He says that Fluor, which also maintains offices in Aliso Viejo and Long Beach, plans a job fair at the new site June 9 to recruit candidates to supplement its current work force at all three of its Southern California locations.

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