Irvine-based chipmaker Broadcom Corp. made its long-rumored move to Great Park Neighborhoods official, agreeing to buy land to build a 1.1-million-square-foot corporate headquarters. A price wasn’t disclosed.
It purchased the land through a subsidiary from Heritage Fields El Toro LLC. The campus could accommodate an expansion to up to 2 million square feet.
Great Park Neighborhoods is a mixed-use, masterplanned community next to Great Park at the former Marine Corps Air Station El Toro and is being developed by Emile Haddad’s FivePoint Communities.
Broadcom currently leases about 920,000 square feet from Newport Beach-based Irvine Company at University Research Park. The chipmaker employs about 2,500 workers in Irvine.
Broadcom President and Chief Executive Scott McGregor said that owning the land gives the company financial flexibility and that building its own campus lets it “design an environment for our workforce where we can prioritize collaboration and sustainability.”
