PM Realty Group
1000 Main St, Suite 2400
Houston, Texas 77002
MEDIA CONTACT:
Whitney Williams
Marketing & Communications Manager
PMRG
(713) 209-5935

Jul 3, 2013

PM REALTY GROUP ACQUIRES 2603 AUGUSTA, A BOUTIQUE CLASS A GALLERIA OFFICE BUILDING

HOUSTON, TX - PM Realty Group (PMRG), a nationally recognized full service commercial real estate firm, announced that it has acquired 2603 Augusta, a boutique class A office building located in Houston's upscale Galleria submarket. PMRG partnered with American National Insurance Company (ANICO) in the purchase from an affiliate of CBRE Global Investors.

Built in 1984, the 16 story 242,194 sf property recently achieved the designation of LEED EB O&M Silver by the U.S. Green Building Council. It is also a multi-time recipient of the U.S. EPA's prestigious Energy Star label. "PMRG is privileged to own such a unique and extraordinary property and we are excited about the opportunistic potential it affords us and our partner," said John Dailey, Executive Vice President and Director of Acquisitions for PMRG. CBRE Global Investors was represented by Russell Ingrum, Jared Chua and Bernard Branca, all with CBRE.

2603 Augusta recently underwent a substantial multi-million dollar renovation that resulted in numerous first class amenities including a state-of-the-art executive meeting facility and a wine locker equipped lounge for tenants' private and client events. Ongoing remodeling of the building's common areas will result in updated restrooms, floor lobbies and elevator cabs as well as new upscale finishes and décor at both building entrances. It is PMRG's plan to complete the previous owner's renovation projects as well as continue to upgrade the building's operating and mechanical systems. "Essentially, 2603 Augusta will soon be on par and comparable to any top-tier property in the Galleria area," according to Dailey.

2603 Augusta is located near the corner of Westheimer and Augusta. This strategic location allows convenient access to the Galleria submarket's abundance of retail, dining, hotel and service amenities. The building's vacant top two penthouse floors can offer a large tenant a rare block of efficient contiguous space as well as the opportunity for prestigious building identity signage. Move-in ready spec suites complete with above standard finishes are also available. Mike Martin, Vice President, and Kim Shapiro, Senior Vice President, will handle the leasing efforts on behalf of PMRG. For leasing information contact: mrmartin@pmrg.com / (713) 209-5710 or kshapiro@pmrg.com / (713) 209-5940.

About PMRG

PMRG merged operations with Madison Marquette in June 2018 to create a new leader in commercial real estate. The firm offers PMRG’s leasing, property management, investment management and development services, combined with Madison Marquette’s specialized development, investment and marketing expertise. Madison Marquette’s strength in retail and mixed-use assets joins PMRG’s office, medical, industrial and multi-family capabilities to provide national leadership across asset classes. PMRG’s dominance in the southern US combines with Madison Marquette’s presence in primary gateway markets on both coasts to serve the top institutional owners and investors in the industry. The company provides leasing and management services to a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at over $6 billion. The combined company is headquartered in Washington, DC with a major presence in Houston, TX. With 600 professionals in 12 regional markets, the merged firm is a member of the Capital Guidance group of companies.