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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

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

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

 

Irvine, CA
May 9, 2007

Irvine, California based 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.

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

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Released on: 8/28/2013 8:39:16 PM

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