REAL ESTATE
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Headquarters Move: Avco Financial Services Inc. is moving its headquarters from Irvine to Costa Mesa in what real estate specialists say is one of the biggest commercial office deals of the year.
The international consumer finance and insurance company is vacating its 209,000-square-foot quarters at Park Place--the old Fluor Corp. complex--and has signed a 10-year lease to occupy 103,000 square feet of space on five floors of the 21-story Plaza Tower building near South Coast Plaza.
None of the parties to the lease would disclose its value, but industry watchers say it is likely to total about $18 million. Avco reportedly is negotiating with another landlord for 86,000 square feet of space.
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