History
Penn Station – 1630 Stewart St. – Santa Monica, CA
2023
PMI continues to carefully monitor
the market for the opportunity and
ensure the best performance
of its assets.
2013
PMI begins converting old apartment properties into creative, multifamily units geared towards a younger tenancy.
2009
PMI re-enters San Francisco after the recession, capitalizing on office opportunities and gearing its properties towards tech start-ups.
2004
PMI shifts to the San Francisco office market to take advantage of the recovery
from the Dot-Com bust and purchase
creative office space.
1997
PMI enters the Culver City and Venice markets to convert warehouses to creative offices.
1995
PMI pioneers all-spec-suite offices
in Los Angeles.
1994
PMI starts purchasing Santa Monica office properties to take advantage of the Santa Monica resurgence.
1987
Scott Sternberg and Jeff Palmer
undergo their first collaboration on
an R&D building in Santa Monica.
2016
PMI withdraws from apartment acquisitions and shifts focus to value add, asset management, and potential sales.
2012
PMI again withdraws from office acquisitions, moving instead into the Los Angeles residential market.
2007
PMI withdraws from office
acquisitions due to pricing/risk concerns.
1998
PMI develops the first multi-level warehouse conversion to a creative office.
1996
PMI pioneers the conversion of warehouse space to multi-tenant creative office space.
1995
PMI pioneers the first conversions
of traditional office space to soft creative space, capturing entertainment industry demands.
1993
Scott Sternberg and Jeff Palmer form a new PMI partnership to take advantage of the recovery from the S&L recession.
1997
Scott Sternberg founds PMI.