PM Realty Group
1000 Main St, Suite 2400
Houston, Texas 77002
1000 Main St, Suite 2400
Houston, Texas 77002
MEDIA CONTACT:
Sommer Bukowski
PMRG | PM Realty Group
713.209.5810 (office)
214.621.3317 (cell)
sbukowski@pmrg.com
Sommer Bukowski
PMRG | PM Realty Group
713.209.5810 (office)
214.621.3317 (cell)
sbukowski@pmrg.com
FOR IMMEDIATE RELEASE
May 8, 2006
PM REALTY GROUP BREAKS GROUND ON NEW MEDICAL OFFICE BUILDING TO BETTER SERVE NORTHWEST HOUSTON PHYSICIANS
HOUSTON, TX - Executives at PM Realty Group (PMRG), a national, full-service commercial real estate firm, today broke ground on a new medical professional building that will provide much-needed office space and an ownership participation opportunity for physicians in northwest Houston.
PMRG is developing the CyFair Professional Building, located at the corner of Steepletop Drive and FM 1960 on the Cypress Fairbanks Medical Center campus. The new three-story, 60,000-square-foot facility will feature medical offices, a sleep lab, a women's diagnostic center, and related services. PMRG will provide property management and leasing services for the new facility. The project is valued at approximately .5 million.
The CyFair Professional Building is located on a six-acre parcel of land that was jointly acquired by PMRG and New York-based AIG Global Real Estate Investment Corporation in August 2005.
“Cypress Fairbanks is one of the fastest growing communities in Texas, and with that growth comes an increased demand for medical services,” Ernest Johnson, PMRG's executive vice president of Capital Ventures said. “Currently, the community has a shortage of 300 physicians. Successful recruitment of additional medical professionals requires having sufficient office space. There are other projects underway in the area, but this will be the only medical office building on the campus of a full-service community hospital. Furthermore, we are the only class A medical office building in the area offering ownership interests to physicians. We saw this as a great opportunity to support the community's growth and meet a very specific need.”
Development of the CyFair Professional Building is managed by PMRG's Glen Perkins and Kerry Burden. Leasing is handled by Glenna Duke. The facility should be open for occupancy in early 2007.
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.