WASHINGTON, DC—PM Realty Group is expanding its presence in the market with two new hires and a commitment to expand its local market share by establishing a new brokerage service. That, though, is just the start, says EVP and managing director David Parker. "We are an operating company and also an acquirer and developer of office buildings," he tells GlobeSt.com. A brokerage "is an important step in having people on the ground to evaluate these opportunities."

PMRG is a Houston-based full service commercial real estate company that has had its eye on the local commercial real estate market for a few years. The Great Recession held up its initial plans to move into the market; now the company is following through even though the leasing market remains weak.

To that end, it has tapped Eduardo Trujillo and Andrew Gilpin to grow PMRG's services in landlord agency representation.

Trujillo has held senior roles with Brookfield Properties, Archon Group and Grubb & Ellis. Gilpin joins PMRG from CBRE, where he was an associate broker. "Our immediate goal is to have institutional owners as clients," Parker says. "We already have one or two clients locally and may pick up business from them in the next several weeks."

Eventually, perhaps sooner rather than later, the company will move into acquisitions and development, he says. "I do see us acquiring and developing here, absolutely yes," Parker says. The company already owns and/or manages a handful of assets here and hopes to expand on that base to build out a local portfolio.

"The timeframe for development is not immediate whereas acquisitions will be immediate," he says.

"In about 30 days," Parker promises, "we will be announcing exciting news that will involve acquisitions."

Parker declines to get more specific other than to say the company is looking for returns that are difficult if not impossible to achieve with a CBD office. "So we are looking inside the Beltway."