LAKE FOREST, Calif. — Portfolio, one of the nation’s leading reinsurance program managers for automotive dealers, has relocated its headquarters from Irvine, Calif., to a 42,000-square-foot building in the Palm Terrace office campus on Commercentre Drive in nearby Lake Forest. Executives said the move reflects the company’s strong growth history and forecast, increases their occupied office space by over 60% and allows the option of a 50% expansion of its California workforce.
“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 President and CEO Brent Griggs. “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.”
“The new offices include much needed space for a variety of client and customer service needs,” said founder and CSO Steve Burke. “We now have more meeting rooms and a training center, a dedicated IT center, a more robust technology infrastructure, and a more collaborative floorplan. People will now be nearer the people they work with most. After all, this is a relationship business.”
The two-story facility, built in 2000, is set in the forested foothills of Saddleback Mountain and features:
- High ceilings and oversize windows to bring in natural light.
- An open floor plan combined with private offices.
- Energy efficient lighting.
- Marble flooring, granite countertops and stainless steel accents.
- Outdoor eating areas and ample surface parking.
“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,” Griggs said. “One impressive thing I must also mention: The transition to the new building was accomplished in one weekend in April with minimal disruption to our customers, thanks to the help and dedication of our hardworking employees. To me that’s emblematic of the high service standard that runs throughout our company.”