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

Jun 26, 2007

PM REALTY GROUP COMPLETES LEASE OF 22,751-SQUARE-FOOT HILO MEDICAL BUILDING TO HAWAII HEALTH SYSTEMS CORPORATION

HILO, HI - Officials with PM Realty Group (PMRG), a nationwide, full-service commercial real estate firm, today announced it has successfully completed a 10-year lease agreement for the 22,751-square-foot Hilo Medical Building with Hawaii Health Systems Corporation (HHSC). The nation's fourth largest public hospital system, HHSC will expand its outpatient services from Hilo Hospital to this new freestanding facility located at 45 Mohouli Street in Hilo, Hawaii. 

Matthew G. Bittick, senior vice president - investment sales and leasing for PMRG's Pacific Rim division, represented the landlord, GLACS, LLC, in the transaction. The tenant, HHSC, represented itself. 

"Hospitals on the outer islands seem to be at full capacity and are looking to place outpatient services in medical office buildings," said Bittick. "PM Realty Group worked with the owner of the Hilo Medical Building to solve the prospective tenant's requirements by offering solutions that worked for both parties and made it possible for Hawaii Health Systems Corporation to access the building quickly." 

HHSC is a public benefit corporation of the state of Hawaii. As the state's community hospital system, it provides quality, hometown healthcare, particularly in rural locations where private hospitals are unavailable or unable to service patients. 

HHSC will be the sole tenant of the Hilo Medical Building, which was built specifically to accommodate a medical user. 

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.