Premier Continues Rapid Growth, Excited for New Coworking Opportunities

Published on November 20, 2019 - By Allwork.Space - Press

• Flexible workspace provider, Premier Workspaces, made the Orange County Business Journal’s 2019 Fastest-Growing Private Companies list. 
• Premier Workspaces was ranked among the top 50 midsize companies. 
• This is the sixth consecutive year Premier Workspaces makes the list. 

Irvine, CA – Despite industry turmoil, Premier Workspaces®, one of the national leaders in operating shared workspaces, made the Orange County Business Journal’s 2019 Fastest-Growing Private Companies list for the sixth consecutive year.

The September 16^th, 2019 issue of the Orange County Business Journal places Premier Workspaces in the top 50 among Midsize Companies ($10 million to $100 million in annual sales) with 25.3% growth in revenues over the past 3 years and a reported $98.5 million for the 12-month period ending June 2019.

Premier’s first appearance on OCBJ’s Fastest-Growing Private Companies ranking showed an 18.3% growth, earning them a spot as number 71. Now 5 years later, a 25.3% growth positions the company into the top 50 ranking, showing clear signs that the company’s model allowed them not only to remain stable, but also to continue to grow their revenues along the way.

“Given the over expansion in the industry, I’m pleased we not only made the list again, but achieved a higher ranking,” stated Jeff Reinstein, CEO of Premier Workspaces. “We are planning to continue our growth this coming year as we look to lease or manage new locations and acquire distressed shared workspaces or coworking centers.”

Premier Workspaces is one of the few shared workspace companies with a 17-year track record for taking over and repositioning distressed centers. “We have repositioned 74 distressed shared workspace centers with minimal disruption and in one case on only a few hours’ notice,” points out Jeff.

“Premier has operated 127 shared workspace locations in the past 17 plus years and never had an unprofitable year or defaulted on a lease,” states Jeff.  That growth represents on average, a new location every 48 days. Premier has acquired 50 shared workspaces companies, representing about 74 centers, most of which were distressed and needed repositioning. “I am not aware of any other shared workspace company that has our experience, track record, and institutional building owner references for turning around struggling shared workspace centers.”

Currently, Premier Workspaces has 91 open doors across 12 states and the District of Columbia, representing 55 cities and 77 zip codes. With 65 locations and the bulk of its footprint in Southern California, Premier Workspaces looks forward to increasing its presence in NYC, Washington DC, Miami, Denver and Dallas, as well as expanding into new markets like Atlanta, Portland, Sacramento, Austin and Boston, just to name a few.

Since the 2019 OCBJ’s list cutoff date, Premier Workspaces has added new locations to its portfolio and continues to capitalize on opportunities resulting from the industry’s current turmoil. Premier remains firm on its continued growth plans making the company a strong candidate to make the list again in 2020.

About Premier Workspaces®:

Premier Workspaces® (http://www.premierworkspaces.com/) operates one of the largest privately owned executive suite, coworking and shared workspace companies in the United States with locations in Arizona, California, Colorado, Florida, Hawaii, Illinois, Nevada, New Jersey, New York, Ohio, Texas, Washington, and the District of Columbia. Founded in 2002, the company has grown from 9 to over 91 centers, providing over 1.6 million rentable square feet of commercial office space and serving more than 15,000 clients daily. Premier offers coworking, fully serviced private offices, meeting rooms, and virtual offices, enabling businesses of any size to maximize productivity and profits and establish an immediate professional presence at major business locations throughout the country.