Irvine, California based Premier Business Centers has acquired three executive office centers from Western Business Centers on June 13, 2003 for an undisclosed purchase price. The assets consist of three executive suite centers and their respective leaseholds located in Irvine, Long Beach, and the Fashion Island area of Newport Beach.
The locations purchased are as follows: 12,109 square feet at 444 West Ocean Boulevard, Eighth Floor, Long Beach, California; 18,391 square feet at 1 Park Plaza, Suite 600, Irvine, California; and 14,038 square feet at 620 Newport Center Drive, Eleventh Floor, Newport Beach, California. The Long Beach location includes 45 offices in a Class A building with ocean views located on Ocean Boulevard. The Irvine location includes 61 offices in a Class A building located in the prestigious Park Plaza Development. The Newport Beach location is in the prestigious Fashion Island area and includes 45 offices in a Class A building with spectacular ocean views. Newport Beach, California based Robert Rush of US Realty Group represented Premier Business Centers in negotiating lease renewals at the Newport Beach and Irvine locations with the Irvine Company. Premier Business Centers currently operates one of the largest executive suite operations with nineteen locations in California, Washington, and Texas. Premier Business Centers plans to make improvements to each center including upgrades in common areas, phone systems, and copying and computer equipment. The company has plans to acquire and develop 50 executive suite centers over the next five years throughout the Western United States.