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3/29/16
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Premier Business Centers, the big, national operator of executive suites and office centers in the U.S., inked a 10-year lease for a 14.5k sf center in Calabasas, an upscale community at the border of the San Fernando Valley and the Conejo Valley. The new center is located at at 26575 W. Agoura Rd, west of Las Virgenes Rd, adjacent to the south side of the 101 Fwy.
The agreement provides Premier Business Centers with the opportunity for freeway visibility and building top signage. It is Premier’s first location in the Conejo Valley market.
Jared Smits with Lee & Associates represented Premier in the deal. CBRE Tom Dwyer and Michael Slater repped the landlord, Lincoln Property Company.
Fueled by the area’s growth, office rents have increased rapidly over the past 12 months, rising by nearly 11 percent, according to CBRE data. During the next five years, the population in the area is expected to increase by 4.8 percent, outperforming the anticipated population growth nationwide of 3.5 percent.
Premier Business Centers is a leading provider of full-time executive offices, part-time day offices, virtual offices, shared workspaces and meeting facilities in the U.S. Demand for co-working spaces has been on the rise. The number of co-working spaces in office markets around the country is likely to rise in 2016 as more companies, including Fortune 500 enterprises, are taking space at these types of facilities, according to a January report from CBRE Group, Inc.
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