Bascom acquired the Newport Beach location from DBS, and the Beverly Hills location is a new penthouse suite that opened this month. The value of the leases at the two locations totals nearly $4.7 million.
The Newport Beach location is 16,700 sf and is in the Wells Fargo Building/Koll Center at 4590 MacArthur Blvd. The new Beverly Hills suite is 15,035 sf and is located at 9595 Wilshire Blvd.
Newport Beach-based Robert Rush of US Realty Group represented Premier Business Centers in the negotiation of both new leases at each location with each landlord.
Premier Office Centers currently operates one of the largest executive suite operations in the United States with 25 locations in California, Washington, and Texas. Premier 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.
Besides its ownership of the executive suites business, Orange County based Bascom is one of the region's most active buyers and sellers of apartment properties.
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