ANAHEIM, CA - PM Realty Group (PMRG), a nationwide, full-service commercial real estate firm, was recently awarded two property and construction management assignments in Southern California by Newport Beach, Calif.-based WCB Properties. The properties, located in Anaheim, Calif. and Corona, Calif., are part of a 6-million-square-foot, five-property portfolio acquired by WCB Properties and UBS Realty Investors, LLC from ProLogis in June.
PacifiCenter-Anaheim is a four-building, 137,856-square-foot office and retail complex located along North PacifiCenter Drive between two major arterial roads, La Palma Avenue and Tustin Avenue. The complex location also offers easy access to a Metrolink stop and immediate access to California State Route 91 (the Riverside Freeway). The 15.5-acre site encompasses the following: a five-story, 100,000-square-foot office tower; a 23,000-square-foot, flex-office building; a 21,000-square-foot, multi-tenant retail strip center. The site also includes a 1.38-acre parcel entitled for future office development. The complex is 98 percent leased and anchored by Fremont Investment & Loan.
Westgate Center is a 62,057-square-foot, two-story office building located at 2280 Wardlow Circle in Corona, the gateway to Orange County adjacent to the Riverside Freeway. Westgate Center is 93 percent leased. Homebuilder D.R. Horton is the major tenant at the property.
PMRG will manage both properties. The construction management portion of the contract includes supervising alterations to current tenant spaces, as well as to the common areas in order to create and add value to each property. John Rowen, senior vice president for PM Realty Group, will oversee the property and construction management teams.
"We will work closely with WCB to reposition and improve the operations and maintenance of both projects to realize the full potential of these well-located Southern California properties," said Jim Proehl, executive vice president/managing director of PMRG's Western division.