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Premier Business Centers Acquires Seven Executive Suite Centers, Total Lease Value $17.0 Million

Premier Business Centers Acquires Seven Executive Suite Centers, Total Lease Value $17.0 Million

FOR IMMEDIATE RELEASE Contact: Mark Burge Phone: 972-934-6502 Email:  mburge@pbcenters.com

 

Irvine, CA
January 27, 2005

Irvine, California based Premier Office Centers, LLC dba Premier Business Centers has acquired seven executive office centers with a total lease value of $17 million in six separate transactions. Two locations were purchased from Elite Business Centers, one location was purchased from BusinesSuites, one location was acquired from Irvine Ranch Executive Suites and three locations are being developed from scratch. Jeff Reinstein, Chief Executive Officer of Premier Business Centers, commented, “with these acquisitions, Premier now has 33 locations making it the third largest operator in the United States. In addition, Premier has significantly increased its geographic coverage in the Los Angeles and Dallas markets, which allows our customers much greater opportunities to expand with out going outside Premier.”

Premier Business Centers purchased two centers from Elite Business Centers one is located in the Howard Hughes Center at 6601 Center Drive West in Westchester, California and the other center is located at 400 Corporate Pointe in Culver City, California. The Howard Hughes location is 17,384 square feet and includes 62 offices and the 400 Corporate Pointe location is 20,720 square feet and includes 80 offices and workstations. Gary Weiss of Madison Partners represented Premier Business Centers in the renegotiation of both leases with the landlord.

Premier Business Centers acquired an existing executive suite from BusinesSuites. The center located at 14001 N. Dallas Parkway in the Galleria area of North Dallas consists of 50 offices located on the top two floors of the building. Matthew Perry-Miller of Office Finders/Laughlin Commercial Realty Group negotiated the deal on behalf of Premier and Virginia Mulkey of Crescent Real Estate Equities represented the landlord.

Premier Business Centers was hired to manage the Irvine Ranch Executive Suite, which is located at 2522 Chambers Road in Tustin, California after the building was acquired by Newport Beach based Resco Company (a Shurgard affiliate). The suite consists of two floors totaling 16,000 square feet and includes 52 offices. Resco plans to make improvements and upgrades to both the building and the suite.

Premier Business Centers executed leases in three buildings where it plans to develop and open new executive suites. One center will be located at 1055 East Colorado Blvd in Pasadena, California and consists of 18,718 square feet and 71 offices. Newport Beach based Robert Rush of US Realty Group represented Premier Business Centers and Nico Vilgiate of CB Richard Ellis represented the landlord. A second new center will be located at 5050 Quorum in the North Dallas area and consist of 16,660 square feet and 58 offices. Matthew Perry-Miller of Office Finders/ Laughlin Commercial Realty Group negotiated the deal on behalf of Premier and Virginia Mulkey of Crescent Real Estate Equities represented the landlord. The third location is located at 3030 LBJ Freeway in Dallas and includes 22,064 square feet and 80 offices. Matthew Perry-Miller of Office Finders/Laughlin Commercial Realty Group negotiated the deal on behalf of Premier and Molly McLeay of Mack-Cali and Rick Rensi of CB Richard Ellis represented the landlord.

For additional information regarding this transaction, please contact:
Mark Burge
VP Marketing & Business Development
Premier Business Centers
972.934.6502
mburge@pbcenters.com

www.pbcenters.com

 "Work Whenever, Wherever, However… with PREMIER"

 

Released on: 8/28/2013 11:30:12 PM

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