- Officials with PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced the company has brokered two separate lease agreements; one with Progressive Management Systems and the other with Safety Education Center, Inc. for a total of almost 30,000 square feet of space at Cameron Court Plaza in West Covina, California. Cameron Court Plaza is a four-building office complex consisting of approximately 115,513 rentable square feet.Progressive Management Services (PMS)
, an employee-owned accounts receivable management firm, renewed their lease for 25,713 square feet for 6 years. PMS occupies a quarter of Cameron Court Plaza in two separate buildings. "The San Gabriel Office Market has not recovered as fast as some of the other areas in Southern California. PMS had a number of suitors attempting to lure them to relocate." said Mark Mattis, Senior Vice President of PMRG who represented the Landlord, Terri Riker, Receiver for Cameron Court, L.P. along with his associate Eileen Doody, Senior Vice President. The other completed lease was with Safety Education Center, Inc. (SAC), a driver's education firm occupying 3,525 square feet in the 1515 W. Cameron Court building. SAC committed to a new 5-year term.
"West Covina is currently experiencing historically high vacancy rates for office space (CoStar reports 18.3% overall vacancy as of June 2013). Our job is to stabilize the asset and prepare for the eventual turnaround in the market" said Mattis. Both Tenants represented themselves during lease negotiations.
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