Premier Business Centers snap up California offices
Premier Business Centers, a leading US provider of flexible and serviced offices, has acquired the former premises of Esquire Executive Suites in El Segundo on a long term lease, according to company representatives.
The company - based locally in Irvine, California – have secured the usage of the 20th floor at the iconic Pacific Corporate Towers, 222 North Sepulveda Boulevard. Having signed the loan agreement from February 1, the complex is set to offer 68 individual suites, alongside two conference rooms, a business lounge and kitchen.
Jeff Reinstein, chief executive officer for Premier Business Centers, commented on the deal: “We are thrilled to have acquired an El Segundo location in such a prestigious Class A office tower. Not only is it a beautiful workplace, but the views of the Pacific Ocean and Catalina Island are spectacular.”
Premier Business Centres specialise in providing flexible office solutions, such as hot-desks, plug-and-play facilities, part-time serviced offices and executive meeting rooms, within easy reach of Los Angeles International Airport (LAX). Free shuttle bus services run directly to both LAX and downtown El Segundo to enable international clients to access the centre efficiently.
The offices in Tower C of the complex are instantly recognisable to both local and international corporate entities for their imposing height, pyramidal communal area and sleek glass façade. Inside, the office space has been categorised as Class A for its ergonomic design, health and fitness centre, two restaurants, parking and sports facilities.
Recently awarded with a LEED Gold certificate and ninth consecutive Energy Star label for its low level of emissions, Pacific Corporate Towers offers panoramic views across a satellite LAX facility towards the Pacific Ocean to the west, and Santa Monica Mountains to the east. Downtown LA is easily accessible from the centre via the 105 and 405 Freeways.
No price has been given on the leasing arrangements and all parties have declined to comment.
In other US commercial property news, Chris Fox, managing director of Cushman & Wakefield, joined president of SIOR St. Louis, Carl Conceller, on stage in Missouri to announce that the city’s office market witnessed steady recovery in 2012. The pair revealed that rents remained flat throughout last year, whilst 290,000 sq ft of office space was positively absorbed by the market, and vacancy rates fell to 17%.