LAKE FOREST, Calif. — Reinsurance program management provider Portfolio has relocated its headquarters from Irvine, Calif., to a nearby 42,000 square foot building in the Palm Terrace office campus in Lake Forest.
“In late 2013, we began the search for a new facility, and our efforts were accelerated last year as we experienced a 22% growth rate. We run a lean operation, but it was apparent that our previous office was not going to accommodate our future growth,” said Brent Griggs, Portfolio’s president and CEO. “Our high service standards mean we need to have the right people in the right environment to help take care of our dealers, their customers and our agents.
“This office should meet our needs for the future, even with our aggressive growth projections. Our unique reinsurance business model is attracting new dealers week after week and this modern facility will assist us in meeting their needs for many years to come.”
The move increases Portfolio’s occupied office space by over 60%, allowing the option of a 50% expansion of the current headquarters workforce. The facility, built in 2000, features high ceilings, energy efficient lighting, outdoor eating areas and ample surface parking. It is located at 25541 Commercentre Drive, Suite 100, in Lake Forest, Calif.
“The new offices include much needed space for a variety of client and customer service needs,” says Steve Burke, founder and chief executive of sales. “We now have more meeting rooms and a training center, a dedicated IT center, a more robust technology infrastructure, and a more collaborative floor plan. People will now be nearer the people they work with most. After all, this is a relationship business.”
The transition to the new building was accomplished in one weekend in April with minimal disruption to Portfolio’s customers, officials said.