PM Realty Group
1000 Main Street, Suite 2400
Houston, Texas 77002

MEDIA CONTACT:
Stacy Sarault
Griffin Integrated Marketing
281-335-0200
stacy@griffinmktg.com

FOR IMMEDIATE RELEASE
Nov 2, 2006

PM REALTY GROUP BROKERS SALE OF RETAIL CENTER
IN HOUSTON SUBURB

FRIENDSWOOD, TX - PM Realty Group (PMRG), a national, full-service commercial real estate firm, recently brokered the sale of a community retail shopping center in Friendswood, Texas, a thriving suburb south of Houston.

Known as Friendswood Square, the one-story retail center is located at the intersection of North Friendswood Drive and Edgewood Drive. It encompasses 77,587 square feet of rentable space situated on 7.4 acres of land. It is home to major tenants, such as Walgreens, Dollar General, Whataburger and KoMan Furniture & Mattress.

Stephannie Mower, PMRG’s executive vice president and managing director of investment services, represented New Plan Excel Realty Trust in the sale. The deal closed on August 29th. “Friendswood Square was an attractive investment for many smaller investors because of the center’s prime location,” said Mower. “In addition, the new Walgreens on the property offered immediate upside by separating this single-tenant asset and marketing it separately.”  

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 25 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 $25 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. For additional information, visit www.pmrg.com.

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