FOR IMMEDIATE RELEASE
May 22, 2007
PM REALTY GROUP COMPLETES 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, PM Realty Group (PMRG) is a privately held real estate firm of more than 1,300 employees and 21 divisional and regional offices that conducts business in every major state.
With more than 50 years of experience, PMRG provides services to a portfolio valued in excess of $30 billion. The firm’s diversified client base includes institutional and private investors, real estate investment trusts, government agencies, corporations and healthcare service providers.
PMRG focuses on creating value for its clients and offers a full spectrum of real estate services, including property and facility management, leasing, marketing, investment sales, construction management and engineering. In addition, PMRG partners with clients in comprehensive development and joint venture investment programs.