PM Realty Nabs Park Plaza Assignment

HOUSTON-The Houston office of PM Realty Group has inked a leasing contract for Park Plaza Professional Building at 1213 Hermann Drive in Houston. Park Plaza is owned by Texas HCP Medical Offices Buildings, L.P.

PM Realty negotiated the contract through the owner’s agent Newport Beach, California-based Healthcare Property Investors, Inc. The building is an eight-story, 177,395-sf medical annex that is currently 84%-occupied, with Park Plaza Hospital as the primary occupant.

Mike Hackett, vice president of leasing, will oversee leasing operations at Park Plaza Professional Building under the direction of Doug Little, senior vice president and director of PM Realty Group’s Houston division.

Bill Goeke, senior vice president and director for the central division of PM Realty tells GlobeSt.com this is his division’s first assignment for Healthcare Property Investors, but his firm has a relationship with the company in California. Goeke says PM Realty was well-positioned to handle this assignment as it currently oversees leasing at seven other medical buildings in the Houston area for other clients.

“Park Plaza Professional Building is an outstanding medical office facility, and we are pleased to have been selected to increase the occupancy and meet the requirements of existing tenants,” Little says.

Hackett says the building has considerable amenities including easy access, 3.5 per 1,000 parking ratios, common area renovations and a tunnel that connects the building to the hospital.

Healthcare Property Investors has three other medical buildings in the Houston area. The company’s total portfolio includes $2.7 billion in real estate investments in 427 properties. In medical office buildings, the company’s portfolio includes 4,500,000 sf.