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

Jun 21, 2013

PMRG STABILIZES EXISTING TENANCIES, LEASES 30,000 SQUARE FEET IN WEST COVINA

IRVINE, CA - Officials with PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced the company has brokered two separate lease agreements; one with Progressive Management Systems and the other with Safety Education Center, Inc. for a total of almost 30,000 square feet of space at Cameron Court Plaza in West Covina, California.  Cameron Court Plaza is a four-building office complex consisting of approximately 115,513 rentable square feet.

Progressive Management Services (PMS), an employee-owned accounts receivable management firm, renewed their lease for 25,713 square feet for 6 years.  PMS occupies a quarter of Cameron Court Plaza in two separate buildings. "The San Gabriel Office Market has not recovered as fast as some of the other areas in Southern California. PMS had a number of suitors attempting to lure them to relocate." said Mark Mattis, Senior Vice President of PMRG who represented the Landlord, Terri Riker, Receiver for Cameron Court, L.P. along with his associate Eileen Doody, Senior Vice President. The other completed lease was with Safety Education Center, Inc. (SAC), a driver's education firm occupying 3,525 square feet in the 1515 W. Cameron Court building. SAC committed to a new 5-year term.  

"West Covina is currently experiencing historically high vacancy rates for office space (CoStar reports 18.3% overall vacancy as of June 2013).  Our job is to stabilize the asset and prepare for the eventual turnaround in the market" said Mattis. Both Tenants represented themselves during lease negotiations.

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.