PIMCO will begin building new headquarters in Newport Beach, Calif., in late summer, with completion scheduled for the end of 2013. Architect Henry Cobb is designing the office, and Irvine Co. is building it.
The office will be about 400,000 square feet, double the size of its current location, and include a conference center and state-of-the-art trading floor.
“We look forward to continuing to be part of the Newport Beach community, which is where our headquarters have been for the last 40 years,” a PIMCO spokesman said. “It’s about making sure our facility needs evolve with our growth. Over the past four to five years, we’ve grown significantly, and we’ve added a substantial number of people both in Newport Beach and around the world.”