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Commercial real estate developers: ranked by commercial square footage developed in L.A. County
David NusbaumEXECUTIVE SUMMARY
THE amount of space under construction by the 25 largest commercial developers in Los Angeles County has increased to 7.7 million square feet, compared with 7.3 million square feet at the same time last year.
There is an additional 4 million square feet undergoing renovations and 9.5 million square feet entitled, but not yet under construction.
Two companies have at least a million square feet of property under construction. No. 1 Majestic Realty has the most space under construction at 2 million square feet while No. 3 Maguire Properties has 1.5 million square feet currently under construction.
Los Angeles-based Lowe Enterprises moved up three spots to No. 11 as it added 600,000 square feet to its portfolio. No. 18 Robertson Properties Group jumped four spots as its development portfolio grew by 400,000 square feet. L.A.-based Robertson Properties is one of just four companies on the list that owns more property than it has developed.
Overall, the 25 largest commercial developers have completed a combined 1,241 projects in L.A. County totaling 221 million square feet.
THE PACESETTER
MAJESTIC REALTY CO.
MAJESTIC Realty Co. tops the list of L.A. County commercial real estate developers for the 16th consecutive year.
The City of Industry firm has developed more than 45 million square feet in the county since it was founded in 1948.
Ed Roski Jr., chairman and chief executive, heads the company.
The company completed two projects over the past 12 months, adding 1.3 million square feet to its L.A. County portfolio of developments. It has developed a total of 319 projects locally and currently owns nearly 36 million square feet of property in the county.
Industrial business parks comprise 90 percent of Majestic's portfolio. The company has 11 projects currently under construction in L.A. County, totaling 2 million square feet. An additional 2.7 million square feet has been entitled, but is not yet under construction.
In L.A. County, the 400-acre Grand Crossing industrial park remains its largest project. It will have more than 6.4 million square feet of space at build out.
The company's foundation, which was launched in 2002, partnered with the local non-profit Shelter Partnership last year to deliver goods to homeless shelters. When one of the company's tenants had excess inventory, the Majestic Realty Foundation helped arrange for it to be donated rather than disposed of.
Overall, Majestic Realty's nationwide portfolio topped 70 million square feet in 2006 including industrial, office, retail, specialty/institutional, hospitality, sports and entertainment space.
THE LIST
Rank Company (Ranking in 2006) L.A. County Projects (1)
* name (sq. footage/no. of
* Company projects)
* address * total projects
* projects owned
1 Majestic Realty Co. (1) 45,265,375/319
13491 Crossroads Parkway, Sixth Floor 35,873,975/270
City of Industry 91746
2 Overton Moore Properties (3) 28,434,790/43
1125 W. 190th St., Suite 200 700,000/7
Gardena 90248
3 Maguire Properties Inc. (4) 17,000,000/25
355 S. Grand Ave., 33rd Floor 8,800,000/11
Los Angeles 90071
4 Legacy Partners Commercial Inc. (5) 15,000,000/50
4000 E. Third Ave., Suite 600 3,109,889/13
Foster City 94404
5 Watson Land Co. (6) 14,000,000/115
22010 S. Wilmington Ave., Suite 400 14,000,000/108
Carson 90745
6 Carson Estate Trust (7) 13,400,000/93
18710 S. Wilmington Ave., Suite 200 10,825,000/78
Rancho Dominguez 90220
7 J.H. Snyder Co. (8) 7,825,000/30
5757 Wilshire Blvd., Penthouse 30 2,000,000/7
Los Angeles 90036
8 NewMark Merrill Cos. (9) 6,570,000/64
5850 Canoga Ave., Suite 650 4,205,000/42
Woodland Hills 91367.
9 Voit Development Co. (11) 6,054,604/28
21700 Oxnard St., Suite 350 950,084/9
Woodland Hills 91367
10 Sares-Regis Group (10) 6,000,000/15
18802 Bardeen Ave. 1,250,000/3
Irvine 92612
11 Lowe Enterprises Inc. (14) 5,900,000/43
11777 San Vicente Blvd., Suite 900 388,276/1
Los Angeles 90049
12 Festival Cos. (12) 5,720,000/70
9841 Airport Blvd., Suite 700 1,530,000/18
Los Angeles 90045
13 Mika Co. (13) 5,500,000/65
837 Traction Ave., Suite 400 2,200,000/25
Los Angeles 90013
14 IDS Real Estate Group (17) 4,967,000/23
515 S. Figueroa St., 16th Floor 5,592,854/23
Los Angeles 90071
15 Transpacific Development Co. (15) 4,350,000/11
2377 Crenshaw Blvd., Suite 300 616,000/4
Torrance 90501
16 Katell Properties LLC (16) 4,345,000/26
100 Wilshire Boulevard, Suite 1830 434,700/6
Santa Monica 90401
17 MJW Investments (18) 4,090,000/55
1640 Fifth St., Suite 112 4,000,000/25
Santa Monica 90401
18 Robertson Properties Group (22) 3,925,000/22
120 N. Robertson Blvd. 4,035,000/25
Los Angeles 90048
19 Vestar Development Co. (19) 3,800,000/9
7575 Carson Blvd. 2,155,000/6
Long Beach 90808
20 LaCaze Development Co. (20) 3,760,000/21
2601 Airport Drive, Suite 300 2,660,000/10
Torrance 90505
21 Samuelson and Fetter LLC (21) 3,740,000/32
602 E. Huntington Drive, Suite D 2,429,000/18
Monrovia 91016
22 Continental Development Corp. (231 3,400,000/31
2041 Rosecrans Ave., Suite 200 3,000,000/28
El Segundo 90245
23 Agora Realty and Management Inc. (24) 2,650,000/32
15206 Ventura Blvd., Suite 306 645,000/9
Sherman Oaks 91403
24 M. David Paul & Associates 2,558,590/17
233 Wilshire Blvd., Suite 990 3,572,590/20
Santa Monica 90401
25 AMB Property Corp. (25) 2,512,500/4
17777 Center Court Drive, Suite 100 14,880,600/40
Cerritos 90703
Rank Current L.A. County Projects Current L.A. County
(sq. footage/no. of projects) Renovations (2)
* under construction * sq. footage
* entitled only, not under construction * no. of projects
1 1,965,680/11 157,665
2,694,320/21 38
2 0/0 0
246,000/1 0
3 1,500,000/3 1,000,000
1,000,000/4 4
4 0/0 1,786,635
0/0 5
5 0/0 0
0/0 0
6 81,000/2 0
0/0 0
7 NA/NA NA
NA/NA NA
8 862,273/4 0
147,000/2 0
9 405,462/2 72,000
0/0 1
10 0/0 0
500,000/1 0
11 0/0 0
500,000/1 0
12 0/0 0
0/0 0
13 NA/NA NA
NA/NA NA
14 583,000/2 378,272
2,833,339/4 2
15 0/0 0
0/0 0
16 0/0 0
0/0 0
17 216,000/1 200,000
0/0 2
18 75,000/2 0
30,000/1 0
19 0/0 0
0/0 0
20 0/0 0
0/NA 0
21 0/0 0
0/0 0
22 200,000/1 120,000
40,000/1 2
23 179,000/3 41,000
50,000/2 1
24 0/0 12,300
1,621,000/7 8
25 1,636,255/4 203,000
317,068/2 1
Rank Current L.A. County Profile
Fee Work (3) * headquarters
* sq. footage * year founded
* no. of projects * offices
(L.A. County/total)
1 0 City of Industry
0 1948
1/5
2 0 Gardena
0 1976
1/1
3 2,000,000 Los Angeles
3 1965
5/8
4 253,000 Foster City
24 1972
5/8
5 0 Carson
0 1912
1/1
6 0 Rancho Dominguez
0 1914
1/3
7 NA Los Angeles
NA 1949
1/1
8 0 Woodland Hills
0 1997
3/7
9 0 Woodland Hills
0 1971
1/5
10 0 Irvine
0 1993
1/7
11 0 Los Angeles
0 1972
3/6
12 0 Los Angeles
0 1990
3/6
13 NA Los Angeles
NA 1973
1/1
14 1,489,623 Los Angeles
4 1986
4/8
15 0 Torrance *
0 1954
1/3
16 0 Santa Monica
0 1976
1/1
17 0 Santa Monica
0 1980
2/4
18 240,000 Los Angeles
4 1992
1/1
19 0 Phoenix
0 1989
1/3
20 0 Torrance
0 1980
1/1
21 0 Monrovia
0 1948
2/5
22 0 El Segundo
0 1969
2/2
23 0 Sherman Oaks
0 1986
2/3
24 0 Santa Monica
0 1967
6/6
25 354,000 San Francisco
2 1983
1/19
Rank Top Local Executive
* name
* title
* phone
1 Edward P. Roski Jr.
chairman, ceo
(562) 692-9581
2 Stan Moore/Timur Tecimer
ceo/president
(310) 323-9100
3 Robert F. Maguire III
chairman, co-ceo
(213) 626-3300
4 Scott Word
senior vice president
(562) 901-9021
5 Bruce A. Choate
ceo, president
(310) 952-6400
6 James D. Flynn
president
(949) 725-6500
7 J. Snyder/C. Goldstein/A.
Swimmer/A. Wise
partners
(323) 857-5546
8 Sandy Sigal
ceo, president
(818) 710-6100
9 Timothy Regan
v.p. development/acquisitions
(818) 593-6330
10 John S. Hagestad
managing director, principal
(949) 756-5959
11 Robert J. Lowe
chairman, ceo
(310) 820-6661
12 Mark A. Schurgin
president
(310) 665-9600
13 Michael Kamen/Scott Schwartz
principals
(213) 680-1230
14 David Mgrublian/Murad Siam
ceos
(213) 362-9300
15 Thomas G. Irish
president
(310) 618-3600
16 Gerald L. Katell
president
(310) 566-5866
17 Mark Weinstein
president
(310) 395-3430
18 Neil Haltrecht
president
(310) 652-3620
19 Richard Kuhle
president
(562) 938-1722
20 Norman R. LaCaze
owner, principal
(310) 534-0411
21 B. Fetter/R. Samuelson
principals
(626) 305-5530
22 Richard C. Lundquist
president
(310) 640-1520
23 Cary Lefton/Mike Bollenbacher
ceo/president
(818) 985-7100
24 M. David Paul
general partner
(310) 393-9653
25 Kim P. Snyder
sr. v.p., mng. dir. SW region
(562) 345-9200
NA--Not Available
Note: The information on this list was provided by representatives of
the companies themselves. Developers are asked to include only the
square footage that is rentable to tenants, not the gross square
footage of the entire structures.
To the best of our knowledge, this information is accurate as of press
time. While every effort is made to ensure the accuracy and
thoroughness of the list, omissions and typographical errors sometimes
occur. Please send corrections or additions on company letterhead to
the Research Department, Los Angeles Business Journal, 5700 Wilshire
Blvd., Suite 170, Los Angeles 90036. [c] 2007 Los Angeles Business
Journal. This list may not bereprinted in whole or in part without
prior written permission from the editor. Reprints are available ft
Wright's Reprints, (877) 652-5295.
(1) Commercial real estate developed and completed since inception.
(2) Project/renovations in which developer has an equity stake.
(3) Fee work includes renovations, build-to-suits, speculative
developments and development managen which developer does not have
equity stake.
Researched by David Nusbaum
COPYRIGHT 2007 CBJ, L.P.
COPYRIGHT 2007 Gale Group
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