PM Realty Group.PM Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Group today announced that it has been awarded the exclusive property management and leasing contract for four shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into in the greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of area by owner/developer Kmart Corporation. The contract expands PM Realty Group's Kmart portfolio to 5.5 million square feet, bringing its national retail portfolio to more than 15 million square feet. Under the direction of Ray Owens, senior vice president/director of PM Realty Group's Northeast Division, Susan Ahlert, vice president of retail leasing, will oversee leasing activity. Jo Lemak, assistant vice president and portfolio manager - retail operations, will direct the day-to-day operational activities for the properties. "This is the latest example of our growing presence in the retail sector," said Owens. "Although these Kmart properties are already substantially occupied, we are confident that we can further enhance their value through additional leasing and improved operational performance in the near term." PM Realty Group has worked with Kmart since June of 1996 to provide property management and leasing services to select shopping centers throughout the country. Based on the firm's track record and commitment to quality, Kmart has awarded additional centers to the firm. Today, PM Realty Group's share of the Kmart portfolio includes 38 centers totaling 5.5 million square feet of space. "It is a testament of the value our clients place on our work when we are able to expand our relationships with them," continued Owens. "We look forward to achieving Kmart's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. objectives for each of these centers and continuing to grow our relationship with them." The greater New York portfolio includes properties in Pelham Manor, New York Pelham Manor is a village in Westchester County, New York, United States. The population was 5,466 at the 2000 census. A village, it is located in the Town of Pelham. Geography Pelham Manor is located at (40.892986, -73. ; Woodmere, New York Woodmere is a hamlet (and census-designated place) in Nassau County, New York, United States. United States. The population was 16,447 at the 2000 census. Woodmere is one of the Long Island community known as the Five Towns, which is usually said to be comprised of the ; West Orange, New Jersey; and Bronx, New York. |
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