Steady Growth Continues for Firm's Eastern Division
- Officials with PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced it has been awarded the portfolio management assignment for a 20-property (27 buildings), multi-product portfolio spanning 8.8 million square feet for PMRG's eastern region.
Awarded by Hackman Capital Partners, a California-based real estate investment manager, the eastern portfolio consists of industrial properties across the New England area and includes the following properties and respective square footages:
- 170 Highland Park Drive, Bloomfield, Connecticut (449,000 square feet)
- 85 Moosup Pond Road, Plainfield Connecticut (530,500 square feet)
- Enfield Business Park, 555 Taylor Road, Enfield Connecticut (1,185,569 square feet)
- 15 Independence Drive, Devens, Massachusetts (370,545 square feet)
- 1040 Sheridan Street, Chicopee, Massachusetts (74,500 square feet)
- 1045 Sheridan Street, Chicopee, Massachusetts (62,000 square feet)
- 151 Suffolks Lane, Gardner, Massachusetts (68,000 square feet)
- 1111 Southampton Road, Westfield, Massachusetts (652,000 square feet)
- 100 Adams Road, Clinton, Massachusetts (344,000 square feet)
- 111 Adams Road, Clinton, Massachusetts (460,000 square feet)
- 50 Independence Drive, Devens, Massachusetts (235,650 square feet)
- 100 Simplex Drive, Westminster, Massachusetts (658,017)
- Riverview Technology Park, 495-515 Woburn Street, Tewksbury, Massachusetts (707,221 square feet)
- 480 Sprague Street, Dedham, Massachusetts (233,000 square feet)
- 625 University Avenue, Norwood, Massachusetts (457,000 square feet)
- 57 Daniel Webster Highway, Merrimack, New Hampshire (104,300 square feet)
- 59 Daniel Webster Highway, Merrimack, New Hampshire (578,000 square feet)
- 133 Jackson Avenue, Ellicott, New York (287,959 square feet)
- 1200 State Fair Boulevard, Geddes, New York (567,800 square feet)
- 3407 Walters Road, Van Buren, New York (273,000 square feet)
- 851 Beaver Drive, Du Bois, Pennsylvania (202,800 square feet)
- Shaffer Road & Route, Du Bois, Pennsylvania (410,000 square feet)
This sizable management assignment is part of a larger collection that PMRG was awarded to include a 38 property 11.4 million square feet portfolio ranging from office, warehouse/industrial, flex/R&D and retail space across the Unites States.
According to Rick Kirk, President and CEO of PM Realty Group, "This assignment represents PM Realty Group's ability and expertise in servicing large client portfolios. The awarding of this assignment is a result of team-work across all regions and further validates PM Realty Group as one of the nation's top providers of fully integrated, high quality real estate services." "We believe that PMRG's operating expertise will significantly increase the profitability of this investment for Hackman Capital and its partners. Invariably, our management practices uncover ways to reduce property related expenses which, in turn, increases the number of tenant renewals and benefits ownership," says Dave Parker, executive vice president and managing director of the eastern region.
With the addition of the Hackman portfolio, PMRG's eastern division now manages and/or leases over 31 million square-feet of commercial real estate.