Princess Cruises Extends Headquarters Lease in Valencia Town Center

Cruise Line to Stay Anchored in Santa Clarita Valley; Cites Business-Friendly Environment As Key Factor

News provided by

Aug 15, 2011, 01:07 ET

SANTA CLARITA, Calif., Aug. 15, 2011 /PRNewswire/ -- Princess Cruises has renewed the lease for its headquarters location in Valencia Town Center, and has announced it will continue to be "home ported" in Santa Clarita.

Under the terms of the new lease, which includes approximately 270,000 square feet of office space in four buildings in the Town Center, the cruise line will remain based in Santa Clarita for at least the next 15 years.

"We're pleased to have worked out a long-term lease with our landlord, Invesco Real Estate, and we're thankful to the City of Santa Clarita for their support and commitment to a business-friendly environment, which was an important factor in our decision to remain based here," said Alan Buckelew, president and chief executive officer of Princess Cruises.

Princess is one of the largest private employers in the Santa Clarita Valley, with approximately 2,000 employees.

"One of the key reasons we located to Santa Clarita in the first place was the quality of life for our employees and we're happy this will continue. This decision also provides continued stability for our employees and will be welcome news to the retail tenants of the Town Center who will benefit from the customer base our employees provide for years to come," Buckelew added.

The company, which is a worldwide cruise operator carrying 1.3 million passengers annually, has 16 ships sailing the globe – with new ships on order, scheduled to debut in 2013 and 2014 -- and also handles North America marketing and sales for sister company Cunard Line.

The cruise line has been based in Santa Clarita since 2001, when it moved its long-time headquarters from Century City. The establishment of a customer service center in the Town Center in 1998 preceded the move of its corporate office.

About Princess Cruises:

One of the best-known names in cruising, Princess Cruises is a global cruise and tour company operating a fleet of 16 modern ships renowned for their innovative design and wide array of choices in dining, entertainment and amenities, all provided in an environment of exceptional customer service. A recognized leader in worldwide cruising, Princess carries 1.3 million passengers each year to destinations around the globe ranging in length from seven to 107 days. The company is part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK).

Find us:
Blog: 50EssentialExperiences.com
Facebook: facebook.com/PrincessCruises
Twitter: twitter.com/PrincessCruises
YouTube: youtube.com/princesscruises
Flickr: flickr.com/photos/princesscruises
Newsroom: princess.com/news

SOURCE Princess Cruises