WASHINGTON, July 15, 2015 /PRNewswire/ -- NAIOP, the Commercial Real Estate Development Association, has selected Majestic Realty Co. as its prestigious 2015 Developer of the Year – the association's highest honor. Headquartered in Southern California, with regional offices throughout the United States, Majestic is the largest, privately-held industrial developer in the United States and is widely-recognized as a long-term powerhouse in the development community.
Majestic completed nine new buildings in the past year, adding more than 6 million square feet and increasing its ownership portfolio to 78 million square feet. It continues to be the dominant industry player with a strong presence in strategic gateway locations, including California, Texas, Georgia, Pennsylvania and Florida.
"To be honored by your peers is truly the highest honor, and we are humbled by the NAIOP recognition as the 2015 Developer of the Year," said Edward P. Roski Jr., Majestic president & chairman. "It goes without saying that we have an amazing team that understands business, understands our clients and works very hard to earn our success in the development community and in our communities at large."
Widely recognized for its expertise in master-planned business parks for the industrial/warehouse sector, Majestic has earned an international reputation with its diverse accomplishments that include co-developing the world-renowned STAPLES Center in Los Angeles, L.A. Live, the Silverton Hotel and Casino Resort in Las Vegas, and the Pacific Palms Conference Resort in southern California, as well as Class A office parks and regional lifestyle shopping centers.
Majestic follows a unique business model of maintaining ownership in nearly all of the properties it develops and, despite ever-changing market conditions, has maintained an unprecedented flawless financial record over its 66-year history. In addition to Majestic's development expertise, financial stability and market leadership, the company is immersed in industry trends and public policy discussions.
The 2015 Developer of the Year award will be presented on Thursday, October 15, at NAIOP's Commercial Real Estate Conference in Toronto, Ontario, Canada.
"Majestic's unique ability to thrive in changing market conditions, strong company leadership and financial stability, and longstanding record of community service make it 'the' company to emulate across our industry and one in which we are proud to recognize as the 2015 Developer of the Year," said Thomas J. Bisacquino, NAIOP president and CEO.