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

Nov 14, 2014

PM REALTY GROUP COMPLETES SALE OF INDUSTRIAL BUILDING FOR $3.36 MILLION

IRVINE, CALIF. – PM Realty Group (PMRG), a nationally recognized, full-service commercial real estate firm, announced today that it has completed the sale of a 15,775-square-foot industrial building located at 16631 Millikan Avenue in Irvine, Calif. to a private investor for $3.36 million.  The buyer will be using the building for its corporate headquarters.

PMRG Senior Vice President Oliver Fleener represented the seller, Marcial R. Mancillas Children's Trust.  The buyer was represented by John Manion at NAI Capital.

"The demand for this building was unbelievable," said Fleener.  "There are very few options available for users to purchase this size range and property type.  We definitely set a new high watermark for the area, given the condition, size and location of the building."

Built in 1976, 16631 Millikan is a warehouse located in Orange County's Airport Area submarket.  It features 14 foot clear height, two loading doors and surface parking.  The property was recently renovated.

 

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.