HILO, HI - Officials with PM Realty Group (PMRG), a nationwide, full-service commercial real estate firm, today announced it has successfully completed a 10-year lease agreement for the 22,751-square-foot Hilo Medical Building with Hawaii Health Systems Corporation (HHSC). The nation's fourth largest public hospital system, HHSC will expand its outpatient services from Hilo Hospital to this new freestanding facility located at 45 Mohouli Street in Hilo, Hawaii.
Matthew G. Bittick, senior vice president - investment sales and leasing for PMRG's Pacific Rim division, represented the landlord, GLACS, LLC, in the transaction. The tenant, HHSC, represented itself.
"Hospitals on the outer islands seem to be at full capacity and are looking to place outpatient services in medical office buildings," said Bittick. "PM Realty Group worked with the owner of the Hilo Medical Building to solve the prospective tenant's requirements by offering solutions that worked for both parties and made it possible for Hawaii Health Systems Corporation to access the building quickly."
HHSC is a public benefit corporation of the state of Hawaii. As the state's community hospital system, it provides quality, hometown healthcare, particularly in rural locations where private hospitals are unavailable or unable to service patients.
HHSC will be the sole tenant of the Hilo Medical Building, which was built specifically to accommodate a medical user.
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