Real Estate Central

IRVINE, Calif., Aug. 7 /PRNewswire/ — Irvine, CA-based Premier
Business Centers, the largest privately held provider of full-service
executive office suites in the United States, announced today the renewal
of four lease agreements for a total of $11 million. Premier Business
Centers renewed three office leases in Orange County and one in Woodland
Hills, California. “Given the current state of the economy, executive
suites offer a lot of flexibility for all types of businesses that are not
certain which direction their business is heading,” commented Jeff
Reinstein, Chief Executive Officer of Premier Business Centers. Mr.
Reinstein also commented that “with Premier Business Centers’ renewal of
these four prime locations, it shows that we continue with our commitment
to provide attorneys, accountants, Fortune 1000 companies and small
entrepreneurs with flexible office space solutions in some of the best
office buildings in the Southern California area.”

In Orange County, Premier Business Centers renewed leases for two of
its executive suites with The Irvine Company. Premier Business Centers
renewed its lease for the prestigious high-rise office tower at 620 Newport
Center Drive, Suite 1100 in the Fashion Island area of Newport Beach,
California. Premier Business Centers’ suite is the only executive suite in
a Class A high-rise in the Fashion Island area and features dramatic views
of the Pacific Ocean, the Back Bay, Big Canyon and the distant mountains.
The center is directly across the street from Newport Beach’s Fashion
Island. Its lobby is clad in light marble and access is provided at ground
level to the tower’s four-story parking structure and subterranean
executive parking.

Premier Business Centers also renewed its lease for its executive suite
at Jamboree Center, which is located at One Park Plaza, Suite 600 in
Irvine, California. Jamboree Center features gleaming travertine and is at
the heart of Irvine at the confluence of Main St./Jamboree/405 Freeway.
This prestigious complex features high-speed elevators, vaulted glass lobby
ceilings, covered walkways and ample structured parking. Also on-site is
The Hyatt Regency, three cafes, auto detailing and ATMs. Extensive
landscaping and generous open space provide park-like surroundings and
pedestrian convenience.

Also in Orange County, Premier Business Centers extended their lease
for Centerstone Plaza located at 4000 Barranca Parkway, Suite 250, Irvine,
California. The executive suite space at Centerstone Plaza was one of the
first nine business centers Premier acquired in May 2002. Centerstone
Plaza, is a four-building office campus comprising 158,000 sq. ft.,
featuring spacious abundantly landscaped common areas and a striking red
brick facade. Centerstone Plaza includes two full-service restaurants and
lies within easy walking distance of two major shopping centers.

In the San Fernando Valley, Premier Business Centers renewed its
Woodland Hills center’s lease with Douglas Emmett, Inc. Located at 21550
Oxnard Street, 3rd Floor, Woodland Hills, CA 91367. Warner Center Towers
consists of six office buildings and one retail building containing
1,927,559 sq. ft. of Class A office and retail space. The property is one
of Los Angeles’ largest office campuses and is located in the planned
Warner Center community in Woodland Hills. Warner Center Towers offers a
park-like setting with landscaped plazas, attractive fountains and
breathtaking views. It has ample parking and is conveniently located near
the Ventura Freeway. The property features several dining options and is
directly adjacent to the Warner Center Marriott and The Promenade shopping
center.

All four leases were negotiated by USA Realty Group’s Robert Rush on
behalf of Premier Business Centers.

About Premier Business Centers:

Premier Business Centers (http://www.pbcenters.com) currently operates
the largest privately owned executive suite operation in the United States
with forty-six locations (17 in Los Angeles County, 17 in Orange County, 3
in San Diego County, 2 in San Francisco County, 3 in Seattle, WA area, and
4 in Dallas, TX area. Premier Business Centers is a full-service executive
office suite operator and provides businesses with professionally staffed
office space along with a variety of shared services, including:
administrative/secretarial service, T1 high-speed internet access,
telephone service, furniture, information technology services/consulting
and conference rooms. Premier Business Centers rents space by the day,
month or year on a full- or part-time basis.



For additional information regarding these transactions, please contact:

Jeff Reinstein, Chief Executive Officer
Premier Business Centers
2102 Business Center Drive
Irvine, CA 92612
949-253-4130 Voice
949-253-4151 Fax
jreinstein@pbcenters.com

This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.

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[Via Real Estate Newswire]