- April 28, 2024
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Foundation Risk Partners is moving its headquarters to Ormond Beach.
The insurance brokerage and consulting firm — now at 1540 Cornerstone Blvd., Suite 230, near the Tomoka Town Center in Daytona Beach — will relocate to the Reflections One office building at 780 W. Granada Blvd. on Sept. 15. This move, said Foundation Risk Partners chairman and CEO Charlie Lydecker, will let the company create a more "campus environment."
"Almost doubling in size gives us the flexibility for collaborative workspace," Lydecker said. "You have a lot more flexibility in terms of our growth."
Foundation Risk Partners' current space is 18,000 square feet. The Reflections One office building measures 33,000 square feet.
The company bought the building in late May for $3.715 million, according to the Volusia County property appraiser. It last sold in 2013 for $1.66 million.
When the building came on the market, Lydecker said, he and his partners jumped on the opportunity.
"I've always admired the building and thought it was beautifully interfaced inside of Ormond Beach, with the appropriate landscaping," Lydecker said. "... I've always thought it was an architecturally pleasing building from that standpoint — very compatible with a residential community."
Plus, he added, the company is excited to be close to all of Ormond Beach's restaurants.
The move is also coming as Foundation Risk Partners, with its 115 local employees and 2,300 employees nationwide, outgrows its current building.
Florida Rep. Tom Leek, the chief legal officer for Foundation Risk Partners, said the company is "bursting at the seams."
"The company has grown, really at a breakneck speed, over the last five years," Leek said. "So, you project that out five years forward, we're out of space here."
Lydecker added that the company wants to enhance the landscaping for the new building and look into powering it with solar energy.
For Leek and Lydecker, both Ormond Beach residents, the move also marks a homecoming.
"I think for both of us, it gives us an opportunity to plant a stake in the ground in our hometown," Leek said.
Feedback from employees on the new building, Lydecker said, has been "terrific."
"There is a good deal of excitement about moving into Ormond Beach because it puts us in ... the core area of a beautiful community," Lydecker said. "... This is a nice next chapter."
