June 3, 2007

Always ready for opportunities
Cheng living her dream running company that builds for future
By Kevin Smith Staff Writer

INDUSTRY - When Peichin Cheng was a little girl, she used to dream of owning her own business.

Years later, that dream came true. And today the 49-year-old Diamond Bar resident is the owner, president and CEO of CGM Development Inc., a successful Industry-based company that has built many industrial, commercial and residential projects in Southern California.

"You just have to get yourself ready, and when the opportunity comes ... you have to grab it," Cheng said.

The numbers reveal Cheng and her company have grabbed plenty of opportunities.

During the past 10 years, CGM has constructed, marketed, leased and sold nearly 800,000 square feet of industrial space in Industry, including a variety of industrial buildings ranging in size from 20,000 square feet to 150,000 square feet.

But the company isn't limited to industrial projects.

"We just did a groundbreaking ceremony a couple weeks ago for a medical office building in West Covina," Cheng said.

The Nogales Medical Plaza, at 2707 E. Valley Blvd., a three-story, 72,000-square-foot building, will include 45 units for sale or lease.

West Covina Councilman Steve Herfert said he is impressed by CGM - and by Cheng.
"She's just an incredible woman," he said. "She's very intelligent and knows the economics of all of her projects. She's very hands-on and has included a lot of details you wouldn't normally see in development."

Born in Taipei, Taiwan, Cheng graduated from college with a degree in economics before coming to the United States in 1985. She entered Cal State Fullerton in early 1987 and graduated two years later with a master's degree in business administration.

"I took night classes and worked during the day as a legal secretary in Pasadena," she said.

Cheng later worked as a real estate agent in Alhambra before getting married and settling down in West Covina. The budding entrepreneur established CGM Development in 1996.

Structured as a one-stop shopping experience, CGM was named for Cheng's three children, Casey, 15; Grace, 13; and Melody, 11.

The company has 35 employees and serves as a general contractor, but the business also boasts in-house marketing, interior design and property management divisions.

"We even have an architect in our office, although he is independent," Cheng said. "That way, we get in-house convenience without all the headache."

The business also handles site selection, feasibility studies, the entitlement process, project management, construction management and asset management.

Thus far, CGM has completed 17 industrial buildings. "We also put up three high-end custom homes in Diamond Bar in a gated community called The Country," Cheng said. "They go from 8,700 square feet to 12,000 square feet, and they're priced from $2 million to $6 million."

The company is building Ivy Garden, a 107-unit senior condo complex in Chino.

Last year CGM competed a 65,000-square-foot medical office building in Chino, and the business finished another 52,000-square-foot retail center in Chino in April, Cheng said.

Chino Councilman Tom Haughey said Cheng has been a pleasure to work with. "She's a real class act and doesn't do anything second-

rate, he said. "She's very professional and keeps to her schedules."