Maguire Properties Signs 82,500 Square Feet Lease With U.S. Bank at 3121 Michelson in Irvine, CA

LOS ANGELES, CA--(MARKET WIRE)--May 6, 2009 -- Maguire Properties, Inc. (NYSE:MPG - News), a southern California based real estate investment trust, announced today it has executed a new lease with U.S. Bank National Association for 82,500 square feet at 3121 Michelson in Irvine, California. The 10-year lease commences in August 2009.

Mr. Nelson C. Rising, President and Chief Executive Officer of Maguire Properties, said, "We are extremely pleased to welcome U.S. Bank to the 3121 Michelson building at Park Place. Our Company has a strong and longstanding relationship with U.S. Bank dating back to 2002 when they became a tenant at what is now U.S. Bank Tower in downtown Los Angeles and where they currently occupy nearly 165,000 square feet. We are delighted to expand our relationship with them into Orange County."

"California is at the heart of U.S. Bank's growth strategy, and no where is that more evident than in southern California where we have gained tremendous presence in just the last year with the acquisitions of Mellon 1st Business Bank, Downey Savings and Loan, and PFF," said Joseph Otting, vice chairman, commercial banking, U.S. Bancorp, who is based in Los Angeles. "We look forward to the new business opportunities provided by this new location, and are grateful to our long standing partners at Maguire for their ongoing commitment to quality and service."

Mr. Nick Christensen of CB Richard Ellis represented U.S. Bank in the transaction and Maguire Properties was represented by Mssrs. Peter Johnston and Stephan Khudic.

Park Place is a 105-acre real estate campus project and when fully developed will include new office, hotel with condos, new high-end residential units and expanded retail and is located in the city of Irvine, adjacent to the San Diego 405 Freeway at Jamboree Road and Michelson Drive in the commercial center of Orange County, near the John Wayne Airport, South Coast Plaza shopping center and many major cultural and recreational amenities.

About Maguire Properties, Inc.

Maguire Properties, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market. Maguire Properties, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. For more information on Maguire Properties, visit the Company's website at www.maguireproperties.com

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