IRVINE, CA-PM Realty Group has provided third-party leasing and operations for The Shoppes at Chino Hills in Chino Hills, CA, since the original developer Opus West filed bankruptcy in 2008. PMRG was retained by Bank of America as the center was put up for sale and was asked to stay on by new ownership, a family trust that purchased the center in spring 2010. Due to the Opus bankruptcy and downturn, the center got off to a rough start, but, as GlobeSt.com reported in May, has seen a strong comeback with some 30 months of increased sales. It is currently 96% occupied, and the office component is 100% leased. GlobeSt.com recently spoke with Scott Kuklish, PMRG's VP for Southern California, about the firm's repositioning efforts for the center, as well as what its management portfolio looks like today and what he foresees for the company's future.
GlobeSt.com: Would you give us a snapshot of PMRG's management portfolio today?
Scott Kuklish: On a global basis, PM Realty Group is a privately held, primarily management company. We've been in business since 1954 and now have a portfolio that pretty much spans the US as a smile down the west, across the south and up north through Boston. We currently handle 175 million square feet, and this includes Hawaii as we have a headquarters in Honolulu as well. It's a fairly large reach, and our portfolio is made up of commercial office buildings as well as industrial and retail. Our client base is primarily institutional in nature; we also have individual clients who have substantial assets. The Shoppes at Chino Hills is a family trust, and the family is based in Orange County.
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