Jeff Reinstein, CEO of Premier, with Park Tower
Irvine-based Premier Business Center, a flex workspace provider, has inked a five-year lease for the second floor at Park Tower in Long Beach.
The firm will take roughly 17,300 square feet in the glass office building at 5150 E. Pacific Coast Highway, it said in a statement.
This marks Premier’s fourth Long Beach location, adding to outposts at 100 Oceangate Street, 444 W. Ocean Boulevard, and the Kilroy Airport building at 3780 Kilroy Airport Way.
Led by CEO Jeff Reinstein, Premier operates 90 other workspace locations across the country, including 33 in Los Angeles County.
The firm provides full-time unfurnished or furnished suites, day offices, virtual offices, meeting rooms and kitchen access. Memberships range from $300 to $600 per month, according to its website.
The expansion comes amid a surge in the shared workspace sector. WeWork, the biggest company in that space, has 15 locations in L.A. Spaces, an Amsterdam-based co-working company, also recently signed a deal to open its sixth location in the city.
Nationwide, there are nearly 27 million square feet of co-working spaces, according to a recent report by Yardi. L.A. hosts 3.7 million square feet of that, trailing behind co-working capital Manhattan which has 7.65 million.
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