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Management Portfolio with Wells Real Estate Funds Reaches Nearly 1.2 Million Square Feet with Addition of Manhattan Beachˇ¦s Manhattan Towers and Pasadenaˇ¦s 1055 E. Colorado Boulevard
Los Angeles, CA - PM Realty Group, one of the nationˇ¦s leading full-service commercial real estate firms, today announced it has been selected by Wells Real Estate Funds for property management, construction management, engineering management and accounting for two Southern California properties; Manhattan Beach's 310,000-square foot Manhattan Towers and Pasadena's 176,170-square-foot 1055 E. Colorado Boulevard building.
With the addition of Manhattan Towers and 1055 E. Colorado Boulevard, PM Realty Group's management portfolio in Southern California with Wells Real Estate Funds has grown to nearly 1.2 million square feet within the last year. In addition to Wells Real Estate Funds, PM Realty Group has also added VEF Advisors, Makar Properties and Hankey Investments this year to its impressive list of clients. PM Realty Groupˇ¦s Southern California portfolio now totals more than 10 million square feet. In 2004, major assignments include:
- Scripps Corporate Plaza (San Diego)
- Cypress Crossroads (Cypress)
- 4100 MacArthur Boulevard (Newport Beach)
- Marina Business Center I (Marina Del Rey)
- Manhattan Towers (Manhattan Beach)
- 1055 E. Colorado Boulevard (Pasadena)
"PM Realty Group sets the diamond standard for providing high quality customer service with an ownership perspective," said Scott Brown, Senior Vice President of Asset Management for the Western Region of Wells Real Estate Funds. "We appreciate their proactive asset management approach to creating and adding value at our assets."
About Manhattan Towers
The two six-story buildings, located at 1230 and 1240 Rosencrans Avenue feature an outdoor plaza and are near the Family Fitness Center and the Manhattan Beach Country Club, as well as many other restaurants and shopping areas.
Located in the El Segundo/ Beach Cities micro-market of the South Bay submarket, the towers are within two miles of the Los Angeles International Airport and one mile from the Pacific Ocean.
After being awarded the assignment, PM Realty Group hired Kathryn Wayt as Senior Property Manager for the Manhattan Towers. Terry Thompson, Senior Vice President at PM Realty Group, will oversee the on-site team.
About 1055 E. Colorado Boulevard
The five-story building is located at 1055 E. Colorado Boulevard, near the Burbank Airport and adjacent to the Pasadena Freeway. Nearby along E. Colorado Boulevard and Lake Avenue are a variety of Pasadena shops and restaurants.
The building is located in the Central Business District of Pasadena in the greater Tri-Cities submarket.
Kurt Hargens, a six-year veteran of PM Realty Group, will be the on-site manager for Wells Real Estate Funds at 1055 E. Colorado Boulevard. Terry Thompson, Senior Vice President at PM Realty Group, will oversee the on-site team. | 
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