Press Release: Pacific Business Centers Signs Lease at Ventana Real Office Park in Carlsbad

Palo Alto, CA – May 15, 2009 – Pacific Business Centers (PBC), the leading provider of on-demand offices announced that it has signed an eleven-year lease agreement with Newport National Corporation to open a brand new office business center this summer at Ventana Real, the most prestigious Class A office building development in Carlsbad.  

Ventana Real is a three building, Class A office park located at 2173, 2175 and 2177 Salk Ave. in Carlsbad. Upon completion of the final building, scheduled for October 2009, it will total 218,530 square feet. With two three-story buildings and one two-story building, Ventana Real is situated on approximately 15 acres of land located fronting El Camino Real between Faraday Avenue and College Boulevard.

The 18,691 square foot business center will feature 69 furnished executive offices, a boardroom, business lounge, three conference rooms, state of the art VoIP telephony, and a large array of support services.

The center will be located on the second floor at 2173 Salk Ave. Suite 250, near McClellan-Palomar Airport and with easy access to I-5 and I-78. The hilltop location provides high visibility, outstanding panoramic views, prominent frontage road access, and a premier working environment.

"One of the reasons that made us pursue PBC's tenancy for Ventana Real is their ability to incubate smaller users and start ups, some of which will eventually grow into the building," said Mark Avilla, the Grubb & Ellis|BRE Commercial broker representing the landlord in the transaction.

Scott Brusseau, president of Newport National, expressed his satisfaction at landing PBC: "The amenities Pacific Business Centers provide in the form of conferencing facilities, bandwidth management services, hosted VoIP telephony, and other business services are a great benefit to the overall development."

Clients will have access to a support infrastructure on a pay-per-use basis, including IT services, phone answering services, administrative support, accounting services, online law library, and other services necessary to support start-ups, professional businesses, and large corporate users. With the infrastructure already in place, a business presence can be established immediately and overhead minimized.  Flexible lease options allow companies the freedom to grow or downsize at-will and without disruption.

"This location is ideal for attorneys, professional firms, start-ups, and corporate users who value the quality of the building combined with the flexibility and cost-benefits of PBC's 'Workplace-as-a-Service'™ offering" said Jeff Warner, PBC Managing Partner in San Diego. "We are excited to team up with a quality landlord like Newport National that shares our vision and commitment for on-demand offices in this fast growing market we refer to as Cloud Officing™" said Laurent Dhollande, PBC's CEO.

 The PBC Carlsbad center will be the fifteenth location in PBC's California portfolio.

With the signing of Pacific Business Centers, the largest block of contiguous space left in the three-story building is 8,838 square feet. The project can accommodate a large diversity of tenants and varied rent structures. This includes  immediate tenant requirements from 1,000 square foot  to 6,500 square foot suites that are move-in ready, to larger tenants seeking full floors, of approximately 27,000 square feet, or an entire building of approximately 79,144 square feet.

About Pacific Business Centers.
Pacific Business Centers (PBC) offers a wide range of part-time and full-time furnished office space including virtual offices, private offices, and mini-suites in a shared infrastructure environment. Clients have access to conference rooms, VoIP telephony, unified messaging, answering services, IT support, admin support, bookkeeping services, and online legal library under a pay-per-use hosted model PBC refers to as Workplace-As-A-ServiceTM, via a growing network of locations that enable Cloud OfficingTM.  PBC partners with landlords to develop and operate business centers.  The PBC model responds to corporate trends toward a more distributed workforce, increased flexibility, outsourcing of non-core activities, telecommuting, 'green' awareness, and a growing demand from professional firms and start-ups.  All PBC centers are operated by PBC Management LLC. www.PBCoffices.com.

About Newport National Corporation
Newport National Corporation (NNC) is a full-service, vertically integrated real estate company based in Carlsbad, Calif. NNC was founded in 1973 and incorporated in 1975 by Mr. F.M. "Bruce" Brusseau. NNC’s business strategy has and continues to be the acquisition, development and management of prime commercial real estate properties in dynamic growth areas.

The firm has developed and managed a diverse portfolio including low and mid-rise office, power centers, shopping centers, free-standing industrial, multi-tenant industrial, research and development, business parks and residential properties. Today NNC’s operations are focused in San Diego County.

About Grubb & Ellis|BRE Commercial
Grubb & Ellis|BRE Commercial is one of Southern California’s leading privately held commercial real estate brokerage firms. Based in San Diego and a leader in market coverage (as ranked by CoStar), Grubb & Ellis|BRE Commercial represents over 40 million square feet of industrial, office and retail properties throughout the region. The company also provides tenant representation services to key firms and offers investment and financing services. In 2008 more than $3 billion in investment transactions were completed by Grubb & Ellis|BRE Commercial. With corporate office locations in Carlsbad, UTC, downtown San Diego, Otay Mesa and El Cajon, the Grubb & Ellis|BRE Commercial team consists of approximately 190 commercial real estate professionals and personnel.

Grubb & Ellis|BRE Commercial maintains extensive expertise in all phases of commercial real estate transactions including leasing, investment sales, market research analysis, tenant advisory services, mortgage financing and financial analysis. As a full-service brokerage firm the company serves emerging and established firms as well as all commercial property types including industrial, investment, office, retail, multi-family, restaurant/fast food, self-storage, and undeveloped land throughout San Diego County, and Southern California. For more information about Grubb & Ellis|BRE Commercial, please visit www.brecommercial.com.

About Grubb & Ellis
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

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