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FOR IMMEDIATE RELEASE
May 09, 2007
Premier Business Centers Expansion Continues - Signs Deals for Four More Executive Suite Centers in Mission Viejo, Irvine, Westwood and Torrance, California for a Total Lease Value $14.3 Million
Irvine, California based Premier Office Centers,
LLC dba Premier Business Centers (www.pbcenters.com)
has executed leases for four new executive office
centers in Mission Viejo, CA; Irvine, CA; Westwood,
CA; and Torrance, CA with a combined lease value
of $14.3 million. The four separate transactions
totaled more than 69,100 rentable square feet and
will add more than 256 rentable offices to Premier
Business Centers' portfolio.
The Mission Viejo center was previously run by another
operator that decided not to renew their lease.
Premier completely renovated the center and reopened
it from scratch. The center consists of 14,550 square
feet and 59 offices and is located on the 2nd floor
in The Courtyard at 27281 Las Ramblas, near the
Crown Valley Parkway exit off the 5 Freeway. "We
are happy to offer small businesses in Southern
Orange County access to Premier Business Centers'
space and services," remarked Jeff Reinstein,
Chief Executive Officer of Premier Business Centers.
This location offers convenient access to the 5
and 405 Freeways. The offices offer views of the
surrounding hills and the internal courtyard with
fountains and vegetation. Premier Business Centers
executive suites in Mission Viejo offer free parking
and is located near the Kaleidoscope Shopping Center
and The Shops at Mission Viejo, which both feature
numerous retailers and restaurants. Robert L. Rush,
President of Newport Beach based US Realty Group,
Inc. represented Premier Business Centers and Jayne
D. Murrel, Principal, of The Murrel Company represented
the landlord.
Premier acquired the Lakeshore Tower Executive Suites
in Irvine that was previously operated by Dorn Platz.
This is Premier's 10th center in Irvine and 17th
in Orange County. The center was 68% leased when
it was taken over by Premier and consists of 22,550
square feet and 76 offices. The center is located
on the 3rd floor of the Lakeshore Tower building
at 18101 Von Karman, in the heart of Irvine's Business
District. "We were very excited to have the
opportunity to establish a Premier Business Centers'
executive office suite, in what is one of the most
prestigious Class A high rise buildings in the Irvine
Business District.", commented Jeff Reinstein,
Chief Executive Officer of Premier Business Centers.
The Class A office building sits on a 15 acre the
project with two other Class A office buildings,
an Il Fornaio restaurant, a 24 Hour Fitness Ultra-Sport
health club and a City National Bank branch. Amenities
include on-site: valet parking, Excess Look car
wash and detailing, Lakeshore Dry Cleaner and alteration
service, news stand/sundry store and an ATM machine.
Nearby are the Marriott Hotel, Fairmont Hotel, Bistango
Restaurant, Prego Restaurant, and LA / Irvine Sports
Club. This property is known for its prime location
near the 405 Freeway and one block from Orange County's
John Wayne Airport. Lakeshore Towers was recipient
of the 1995 BOMA Award - "Building of the Year"
and is an Energy Star Rated Building. Will S. Adams,
Paul Stockwell and Justin Hodgdon of Studley represented
Premier Business Centers and Rick M. Kaplan and
Greg Tippin of Cushman & Wakefield represented
Lakeshore Towers Limited Partnership Phase I.
Premier Business Centers opened a second center
in Westwood at the Westwood Place Building, consisting
of 13,500 square feet of Class A office space with
59 offices and is located on the 4th floor at 10866
Wilshire Boulevard. The office building sits on
the corner of Wilshire Boulevard and Glendon Avenue,
across the street from the Hammer Museum. Westwood
Place is a 15-story Class A office building featuring
contemporary architectural details of marble and
glass, complemented with granite interiors. This
location offers easy access to the San Diego (405)
and Santa Monica (10) freeways. Westwood Place offers
panoramic views of the surrounding cityscapes and
mountain ranges. It is close to UCLA and is within
walking distance to many restaurants, shops and
entertainment venues in Westwood Village. Gary Weiss
of Madison Partners represented Premier Business
Centers and Janice Cimbalo of Cushman & Wakefield
represented the Sublandlord.
The Torrance center was previously run by another
operator that decided not to renew their lease.
Premier reopened the center on May 1, 2007 and will
be performing extensive renovations. The center
consisting of 18,500 square feet and 62 offices
and is located on the 3rd floor at 3655 Torrance
Boulevard, in the City of Torrance, CA. "We
are very excited to be opening our second center
in the South Bay. This center in Torrance will provide
more convenient access to executive office space
for the residents of Torrance and Palos Verdes than
our Manhattan Beach location," stated Jeff
Reinstein, Chief Executive Officer of Premier Business
Centers. The office building is located on Torrance
Boulevard and sits between Hawthorne Boulevard and
Madrona Avenue. There is free parking and convenient
access to Harbor (110) and San Diego (405) Freeways.
The executive offices are walking distance to Torrance's
Courthouse, the Torrance Marriott Hotel and the
Del Amo Fashion Center with such retailers and restaurants
as: AMC Del Amo 18 movie theatre, Barnes & Noble,
Jamba Juice, Macy's, Outback Steakhouse, and more.
Geoffrey Ludwig and Eric Lastition of Colliers International
represented Premier Business Centers and Douglas
Braun of Colliers International represented Omis
International, LLC.
Premier Business Centers (www.pbcenters.com), is
a wholly owned subsidiary of The Bascom Group, LLC
(www.bascomgroup.com) and currently operates the
largest privately owned executive suite operation
in the United States with forty eight locations
in California, Washington, and Texas. Premier Business
Centers plans to continue to acquire and develop
additional executive suite centers throughout the
United States as opportunities arise. Premier Business
Centers is a full service executive suite operator
and provides businesses with professionally staffed
office space along with a variety of services including:
administrative/secretarial service, T1 high speed
internet access, telephone service, furniture, information
technology services/consulting and conference rooms
on a full or part time basis.
For additional information regarding these transactions,
please contact:
Jeffrey Reinstein
Chief Executive Officer
Premier Business Centers
2102 Business Center Drive
Irvine, CA
949.253.4147 Voice
949.253.4148 Fax
jeff@pbcenters.com
www.pbcenters.com
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