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Currently at 1299 Farnam St., Pacific Life's more than 350 employees are outgrowing their space and approaching an expiration on a lease.
Pacific Life will be the anchor tenant of the 125,000-square-foot structure to be constructed on the northeast corner of Mercy Road and Aksarben Drive. It will contain nearly 20,000 square feet of retail space on the ground level for restaurants and shops. Upper office floors will connect by a sky bridge to a new four-story 880-stall parking structure.
He estimated that by 2015, there will be more than 6,500 people working in the village daily.
Pacific Life Insurance is a subsidiary of Pacific Mutual Holding Co., headquartered in Newport Beach, Calif. Nationally, the network has more than 2,800 employees. The Omaha office serves as a regional business center that supports Pacific Life's retirement solutions and life insurance divisions.
Pacific Mutual was attracted to Nebraska when the Legislature changed state law so that insurance holding companies could shift domiciles to the state to lower their taxes. Pacific Mutual pledged 250 jobs at the time.
“Pacific Life has enjoyed being part of the Omaha community for almost 10 years,” said Jim Morris, CEO and chairman. “We are committed to maintaining our regional business center operations in Omaha and are pleased to have found a great location that will allow for growth and a modern and positive work environment.”
I agree with you there. Like I said above, it would be nice to have something other than a square building. Even if no other shape would work, they could add some architectural details to make it stand out a little more. I know the office in Aliso Viejo has a 2 story whale sculpture in the front of the building.RNcyanide wrote:I think they could have done more for the design of the building. It doesn't look bad, but you wouldn't look at it twice really... I don't care about the height here. It just could have used a little more imagination.
Oh well.
The design H&B used for Millard Refrigeration or C&A Industries (with some tweaking) would have served them better.skinzfan23 wrote:I agree with you there. Like I said above, it would be nice to have something other than a square building. Even if no other shape would work, they could add some architectural details to make it stand out a little more. I know the office in Aliso Viejo has a 2 story whale sculpture in the front of the building.RNcyanide wrote:I think they could have done more for the design of the building. It doesn't look bad, but you wouldn't look at it twice really... I don't care about the height here. It just could have used a little more imagination.
Oh well.
OMAHA, Neb.--(BUSINESS WIRE)--Pacific Life Insurance Company and Magnum Development Corp. announced today the development and construction of a new office building and parking structure in the greater Omaha, Nebraska area. The five-story, 125,000 square foot building will be located in Aksarben Village, a mixed-use development in midtown Omaha. The building will have 19,000 square feet of retail space on the ground floor to accommodate shops and restaurants with the remaining four floors available for office space. The building will be completed in Fall 2015 and will be supported by a new 880 stall parking structure that will be developed in conjunction with the project.
Pacific Life has over 2,800 employees nationwide with more than 350 in Omaha. The Omaha office serves as a regional business center supporting Pacific Life’s Retirement Solutions Division and Life Insurance Division. Key functions include internal wholesaling, customer support, operations, technology support, sales, and case coordination.
“We believe the new office will help employees enjoy work-life balance by providing a location closer to a majority of their residences,” said Carol Sudbeck, senior vice president of Human Resources and Public Affairs. “This new space will also enable our operations to continue to grow in the coming years. Employees will be able to enjoy a number of amenities in the area including restaurants, shops, a health club and Aksarben Cinema, all within walking distance.”
Magnum Development Corp. and McNeil Company are partnering on the $33 million development. The team previously joint ventured the 82,000 square foot Aksarben Cinema building which McNeil Company constructed in 2009. “Aksarben Village has become one of the most notable addresses in Omaha and we are thrilled to be a part of its growth,” said John Hughes, President of Magnum Development Corp. “The addition of Pacific Life will further enhance the ‘Live-Work-Play’ environment of the Village and the new building will provide more opportunity for the retail shops and restaurants that have been looking to locate in Aksarben Village for the past couple of years.” Hughes estimates that by 2015 there will be more than 6,500 people working in the Village on a daily basis. Aksarben Village is now the headquarters for several large Omaha employers, including First Data Resources, Blue Cross Blue Shield of Nebraska, Gordman’s, DLR Group, and Olsson Associates.
“This project will complement our existing investment in Aksarben, both aesthetically and functionally, as the adjacent parking structure will provide more opportunity for additional retail and entertainment focused businesses,” said Pat McNeil, President of McNeil Company.
The new Omaha office of Pacific Life will continue to sponsor internship programs for the University of Nebraska-Omaha and Creighton University. Students have the opportunity to be a part of the Internal Wholesaler Internship Program, which enables them to have a hands-on learning experience and insight into a career in wholesaling to support the sales of investment products. The Pacific Life Foundation is an active funder in the Omaha community, with almost $300,000 committed to local nonprofit agencies and K-12 schools in 2014.
“Pacific Life has enjoyed being part of the Omaha community for almost ten years,” said Jim Morris, chairman and CEO of Pacific Life. “We are committed to maintaining our regional business center operations in the city of Omaha and are pleased to have found a great location for our employees.”
Pacific Life was represented locally by Omaha brokers Tim Kerrigan and JP Raynor from Investors Realty. The building is being designed by Omaha architectural firm Holland Basham Architects. “Holland Basham Architects is excited to be working with Pacific Life on the design of their new offices to be located at Aksarben Village,” said HBA principal Curt Witzenberg. “Holland Basham Architects is proud to be a partner in this unique development opportunity.”
The 2008/2009 recession was very difficult on the financial services industry. Pacific Life cut back its workforce significantly in response. This cutback included Omaha. My department in Omaha was hit with almost a 60% reduction. I have to think that was perhaps deeper than most other departments. So prior to the recession, Pacific Life occupied the 4th, 6th, 8th, 10th, 11th and 14th floors at the Landmark Centre. In response to the recession, the company vacated the 8th and 11th floors. So maybe that is at least part of why you thought they occupied more space.iamjacobm wrote:Honestly I had in my head that they occupied more space than that downtown.
I noticed yesterday they had the "Lake" drained and they were moving a little dirt around. I shot a couple photos. Still need to get them posted. Some machinery on site too.skinzfan23 wrote:I believe that Pacific Life is supposed to break ground either today or tomorrow for the new building.
Probably waiting till they get the parking lot over on the Waitt Plaza spot paved so they don't lose vehicle capacity.skinzfan23 wrote:The construction fence is up, but I was curious why they haven't started tearing up the parking lot to the north for the garage. The garages usually take a long time to build because they have to be reinforced and with an 880 4 floor garage, I would think that would be one of the first things they work on.
Agreed. Esp. for the Cinema traffic, and in the summer/spring/fall the farmers market.iamjacobm wrote:Probably waiting till they get the parking lot over on the Waitt Plaza spot paved so they don't lose vehicle capacity.skinzfan23 wrote:The construction fence is up, but I was curious why they haven't started tearing up the parking lot to the north for the garage. The garages usually take a long time to build because they have to be reinforced and with an 880 4 floor garage, I would think that would be one of the first things they work on.
You're welcome.skinzfan23 wrote:Thanks for posting Brad. I just shared those with my co-workers at Pac Life. By the way, what is wrong with the grass in Stinson Park? Looks like something was sitting on it for a long time and killed some of it.
skinzfan23 wrote:Here is another rendering of the Pacific Life building showing the building and the parking garage.
Sorry I wasn't sure if that was going to work. I uploaded the picture to photobucket now so hopefully you are able to view it. Let me know if you aren't.Brad wrote: I can't see the image. Also, if I use my moderator tools and grab the link out of your post and past it in a new window, it says web page not available.
This thread.RNcyanide wrote:Meh. Still not entirely impressed. Is there a thread for the buildings in the lower left corner of the picture?
Oh. Must have forgot. Thanks!Brad wrote:This thread.RNcyanide wrote:Meh. Still not entirely impressed. Is there a thread for the buildings in the lower left corner of the picture?
