NEWPORT BEACH, CA - PM Realty Group (PMRG), a nationwide, full-service commercial real estate firm, has been awarded three Southern California property and construction management assignments by Newport Beach, Calif.-based WCB Properties. Totaling 371,627 square feet, the office and retail properties are located in Chatsworth, Tustin, and Newport Beach. They are part of a 571,540-square-foot, five-property portfolio acquired by WCB Properties and UBS Realty Investors, LLC from ProLogis in June 2006. With these new assignments, PMRG now manages WCB's entire ProLogis portfolio acquisition.
Chatsworth Business Center is a four-building, 214,238-square-foot business park centrally located on Oakdale Avenue, near the Northridge Fashion Center in Chatsworth. The 11.33-acre site encompasses the following: 9121 Oakdale Avenue, a two-story, 57,665-square-foot building; 9201 and 9211 Oakdale Avenue, two, two-story high-image facilities totaling 53,292 square feet and 60,175 square feet, respectively; and 9131 Oakdale Avenue, a two-story, 43,106-square-foot building located on a separately parceled 2.52-acre lot with potential for sale to an individual user. The park is currently more than 80 percent leased and includes major tenants such as 101 Communications, Washington Mutual Bank and Reynolds & Reynolds.
Pacificenter Tustin is a 109,363-square-foot project located just south of the Tustin Hospital Medical Center in Tustin. The 7.92-acre, 100 percent-leased project includes the following properties: 1311 Valencia, a 69,763-square-foot single tenant flex-office building leased to Terumo Cardiovascular Systems Corporation; and 1100 Edinger, a 39,600-square-foot, big-box retail building leased to Micro Center. This latter building also has frontage road access to the SR-55 freeway.
Commercecenter Newport is a 48,026-square-foot project located off the SR-73 freeway, between Campus Drive and Jamboree Road in Newport Beach. The 2.91-acre site includes 3990 and 4000 Westerly Place, two two-story office buildings totaling 23,991 and 24,035 square feet, respectively. The project is 100 percent leased to tenants including United Auto Credit Corporation, Friedmann & Friedmann Insurance, Inc. and Express Capital Lending.
John Rowen, senior vice president for PMRG, will oversee the property and construction management teams for the portfolio.
In August 2006, PMRG was awarded two Southern California property and construction management assignments from WCB Properties' ProLogis portfolio acquisition. PacifiCenter Anaheim is a four-building, 137,856-square-foot office and retail complex located in Anaheim, in the heart of Orange County. Westgate Center is a 62,057-square-foot, two-story office building located in Corona, in the western Inland Empire region.
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com