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Fluor Sells HQ, Plans Move to Dallas Area

ALISO VIEJO, CA-Fortune 500 engineering and construction firm, Fluor Corp., sells its 109,948-sf headquarters to Rreef for an undisclosed amount. Fluor will take space at a business park in Irving, TX by early 2006.

By Daniel D. Williams | Updated on September 09, 2005

ALISO VIEJO, CA-Fluor Corp. announced earlier this year it would be moving its corporate headquarters to the greater Dallas/Fort Worth area. Now, the Fortune 500 engineering and construction firm has sold its Aliso Viejo corporate space to Rreef for an undisclosed amount and will move to its new digs in Irving, TX by early 2006.The four-story property, located at One Enterprise Drive, counts 109,948 sf. It was developed in 1999 for Fluor’s headquarters. Ted Snell and John Desper of CB Richard Ellis represented RREEF in the deal.Fluor has 490 employees at One Enterprise Drive. About 100 of those employees will make the move to Texas, 210 will be reassigned in Fluor’s other Southern California offices, while roughly 80 will move to other Fluor locations, while as many as 100 could be leaving the company, according to Alan L. Boeckmann, chairman and CEO of Fluor. While the firm will see a shifting of personnel, Boeckmann insists it will be business as usual for his company. “The relocation will have no effect on the company’s Southern California engineering operations, which has operations in Long Beach and another in Aliso Viego. “Together these operations employ 900 people and have grown by 6%,” adds Boeckmann.Fluor has already signed a deal with Koll Development Co. to develop a 26-acre parcel in the Las Colinas area of Irving. Construction began in July on a three-story, 120,000-sf office property. The project is set for an April 2006 completion date.For Rreef, it’s a second major acquisition in Aliso Viejo. Last August, the firm picked up phases I and II of Summit Office Campus. Rreef paid more than $100 million to the Ohio State Teachers Retirement System for the 483,375 sf of space. So far this year, Rreef has acquired over $3.9 billion in property globally.

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