NBJ PR Wire

Construction Phase Tops Out on Business Bank of Nevada's New Corporate Headquarters Project in Northwest Las Vegas

Release Date: September 20, 2006

Contact: Paul C. Stowell

LAS VEGAS, Sept. 20 /PRNewswire-FirstCall/ -- Business Bank of Nevada (OTC Bulletin Board: BBNV) and Charleston Pavilion, LLC, today announced that construction crews have topped out vertical construction of the Bank's new corporate headquarters project being built at 10801 West Charleston Boulevard and Pavilion Center Drive in the Summerlin area of northwest Las Vegas. The new six-story, 150,000 square foot project reached its final height of nearly 100 feet at the end of last week when the final steel beam was bolted and welded into place. (For images of related to this story, go to http://www.bbnv.com/summerlin3.php.)
(Logo: http://www.newscom.com/cgi-bin/prnh/20021018/BBNVLOGO)

The Bank, which is 26 percent owner in Charleston Pavilion, LLC, the investment group that owns the building, also announced today that Fertitta Enterprises would be one of the tenants of the new building when it opens in April or May of next year. Fertitta Enterprises has agreed to lease approximately 9,000 square feet of office space in this building, which will also be the location for their firm's new corporate headquarters. The name of the building will be the Business Bank Corporate Centre. (For an
artist rending of the Bank's new corporate office building, go to http://www.bbnv.com/summerlin4.php.)
"Fertitta Enterprises is a well-respected name and company that we are very proud to have as a tenant in our new corporate headquarters building," said Jason Awad, chairman of the board of Business Bank and managing member of the Charleston Pavilion, LLC. "The Fertitta's, along with other professional companies that will be located in this facility, are providing added drawing power for this location. We will have a diverse group of tenants at this location that will provide the area with a one-stop
financial and business center."
In addition to Fertitta Enterprises, the growing list of companies that will be housed in this new facility when it opens next spring include the Law Offices of Dan Goodsell and Mike Olsen, Harris and Associates, Clark Seegmiller and Associates, and Coffey and Rader CPA's. CB Richard Ellis, the leasing and brokerage services firm hired by the investment group,anticipates having the building more than 80 percent pre-leased by the end of the year and 100 percent pre-leased prior to its opening.
The Bank will occupy approximately 32,000 square feet of space in its new headquarters facility, including a 5,000 square foot branch and two lending centers on the first floor of the building. Other areas of the Bank that will be located in this building include Credit Administration, Accounting, IT, Compliance, Marketing and Public/Shareholder Relations, and Central Services, all of which will be located on the second floor of the building. The executive offices of the Bank, along with its
board/conference room, will be located on the sixth floor of the building.
"With vertical construction now complete, people are starting to get a good sense of the magnitude and scope of this project," said John Guedry, president and CEO of Business Bank. "Work will begin very shortly on the exterior shell of the building, which should take approximately four months to complete. The interior and finish work should be completed by May 2007, along with the two story parking structure to be built on the east side of the building."
Guedry added that with the recent completion of the 215 Beltway south of Charleston, travel to the Bank's new facility from the southeast and southwest parts of the valley will now be a lot faster and easier for all tenants, bank employees, customers and vendors to access. "Once the Summerlin Centre development is fully built out, this area will become the heart of the Las Vegas valley for virtually all aspects of life. Residents in the area will have a self-contained community that will require very
little travel outside of the immediate area."
The Bank's new corporate headquarters sits on approximately seven acres of land the Bank and the investment group, Charleston Pavilion, LLC, purchased in 2004 from The Howard Hughes Corporation for $5.6 million. The total cost of the Bank project is estimated at around $40 million. This project will also be the first Class "A" office building located in Summerlin Centre, an urban village master-planned development that will have a good mix between commercial, residential and retail space totaling
approximately three million square feet. The new Summerlin Regional Retail Center, which is expected to break ground later this year, will also be a part of this master-planned development and could potentially be completed in 2009.
Howard F. Thompson and Associates (HFTA) designed the Bank's new corporate headquarters facility. Whiting Turner Contracting was selected as the general contractor for this project, while Slater Hanifan was chosen to be the engineers and Southern Nevada Paving as the grading and paving contractor. Aptus Architecture designed the two-story parking structure that will provide tenants of the building with 279 parking spaces. The south side of the building will also have another 318 surface parking spaces for building and customer parking.
About Business Bank
Business Bank, with $459.3 million in total assets as of June 30, 2006, is in its eleventh year of operation and is one of the best performing independent banks in Nevada and throughout the country. The Bank has seven branch offices in the state, with three in Las Vegas, one in North Las Vegas, one in Reno, one in Carson City, and one in Minden. The Bank also has Loan Production Offices (LPOs) at tateline in South Lake Tahoe and in Scottsdale, Arizona. Business Bank is FDIC Insured and is a member of the Federal Reserve Bank of San Francisco. Its stock is listed on the Over The Counter Bulletin Board (OTCBB) at ticker symbol BBNV.

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