PM Realty Group
1000 Main St, Suite 2400
Houston, Texas 77002
MEDIA CONTACT:
Kristen Burney
PMRG | PM Realty Group
(713) 209-5910
kburney@pmrg.com

FOR IMMEDIATE RELEASE

May 22, 2007

PM REALTY GROUP COMPLETES $24 MILLION SALE OF CLASS A OFFICE BUILDING IN PHOENIX

PHOENIX, AZ - Officials with PM Realty Group (PMRG), a nationwide, full-service commercial real estate firm, today announced that the firm provided brokerage services in the .3 million acquisition of Black Canyon Corporate Center, a two-story, Class A office building located on 19 acres at 16404 North Black Canyon Highway in Phoenix.
 
San Diego-based Shidler West Investment Partners purchased the approximately 226,000-square-foot building from Hart Properties, based in Redmond, Wash. Major tenants at the property include HTI and Paychecks.
 
Matthew G. Bittick, senior vice president - investment sales & leasing for PMRG's Pacific region, represented the buyer in the transaction. 

"Given PMRG's wide network of relationships with individual and institutional investors throughout the mainland United States and Hawaii, this transaction is a perfect example of our ability to match a product with our client, regardless of geographical location," Bittick said. "Having a long-term relationship with Shidler, we found this opportunity in the fast-growing Phoenix market and knew the property would be an attractive investment for our client."   

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.