- PM Realty Group (PMRG), a national, full-service commercial real estate firm, today announced that it has launched a new practice group exclusively focused on the business of healthcare real estate. With PMRG's extensive experience in the real estate industry and its history of servicing various clients in the healthcare industry, PMRG has assembled a Healthcare Advisory Group
to focus on serving the healthcare industry and help broaden its footprint in this growing market sector.
"The Healthcare industry now makes up almost 20% of the National GDP and with the new healthcare reform legislation passed last year (March 2010), there will be a growing emphasis on the commercial real estate industry's ability to meet the needs of this market demand," said Scott Kuklish, Executive Vice President and Managing Director of PMRG's Medical Property Services. "With PMRG's nationwide coverage and key regional offices, we can leverage our existing expertise and continue to service the growing field of medical real estate."
PMRG has showcased a strategic offering in the development, acquisition, disposition, management, leasing and strategic review of healthcare real estate including working with over 125 hospital systems, managing, leasing and developing over 15 million square feet of healthcare real estate and has negotiated over 3,000 physician leases. The key areas of opportunity that PMRG can provide the healthcare industry include development/joint ventures, portfolio management and investment sales.
Recently completed transactions conducted by PMRG's Healthcare Advisory Group include:
- Texoma Medical Plaza, 120,000 square-feet of high end on-campus medical space in the Sherman, Texas. The Texoma Medical Plaza development project is a joint venture sponsored by Universal Health Realty Income Trust (UHT) and PM Realty Group, LP.
- Lease agreement and project construction on behalf of Houston Precision Cancer Center for new diagnostic radiation oncology and clinical offices, which contains 16,800 square feet of imaging and clinical office space, located at 10405 Katy Freeway, in Houston, Texas.
- Lease agreement with Cardiology and Interventional Vascular Associates (CIVA) for 15,653 square feet of medical office space at Greenville Medical Tower, located at 7150 Greenville Ave., in Dallas, Texas.
- Co-brokered four (4) separate lease agreements for 13,100 square feet of medical office space at 1450 10th Street in Santa Monica, California with the Steve Miller Company. PMRG and Miller represented the landlord, Lexham Investments, in the transactions that totaled over $2 million in consideration.
- Parker, Rosenman-Rodi-Gyn-Infertility Medical Group and Tenth Street Pediatric Medical Group both renewal leases; 5,094 and 4,903 square feet respectively.
- Dr. Lawrence Matt, a Santa Monica dermatologist, renewed his 1,674 square foot office lease.
- Pediatrician Masood Bral, M.D., F.A.A.P., relocated his clinic from West Los Angeles to 1450 10th Street and leased 1,429 square feet.
- New lease agreement on behalf of Reconstructive Orthopaedic Center of Houston for their new Ambulatory Surgery Center, which contains 11,579 square feet of surgery space, located in the Plaza Medical Center Building, located across from the Park Plaza Hospital in the Texas Medical Center in Houston, Texas.
- New lease agreements on behalf of Conroe Premier Sleep Centers for their new northwest sleep study facility, which contains 2,800 square feet of imaging space, located 8765 Spring Cypress Road (Stables Town Center), in Spring, Texas as well as their new 2,500 square foot sleep center located at 114 Vision Park, in Shenandoah, Texas, adjacent to The Woodlands, Texas.
- New lease agreement on behalf of Conroe Premier Imaging Center for their new diagnostic imaging offices, which contains 2,700 square feet of imaging space, located 111 Vision Park, Shenandoah, Texas, adjacent to The Woodlands, Texas.
For more information on PMRG's Healthcare Advisory Group, visit the team's web page
or contact Scott Kuklish
, Executive Vice President, Managing Director of Medical Property Services.
For more information on PMRG's Development opportunities, visit the team's web page
or contact Glen Perkins
, Executive Vice President, Managing Director of Development.