Development Firm of the Year – Panattoni Development Company
Panattoni Development Company was honored with the prestigious Developer of the Year award at this year’s Spotlight event. The firm was recognized for its excellence in industrial and office real estate development, and for the significant contributions the company made to NAIOP Southern Nevada and the local community.
“It’s an honor to be recognized by our peers and NAIOP, an organization that contributes significantly to our industry,” said Doug Roberts, senior vice president and project principal of Panattoni Las Vegas. “We are privileged to receive this award and it’s a testament to the dedication we share to the advancement of the Southern Nevada commercial real estate market.”
Founded in 1986, Panattoni Development Company maintains one of the most active development records in the nation, and the firm has developed and managed industrial, office and retail facilities in more than 100 markets throughout the United States. Panattoni Development Company is a longstanding member of NAIOP and its local chapters, and Panattoni Las Vegas is actively involved in NAIOP Southern Nevada. As a NAIOP member, Roberts has contributed editorial content to Development Magazine and he has served as the guest speaker at the Southern Nevada chapter’s Developing Leaders Institute (DLI) seminar.
In August 2009, Panattoni Development Company purchased the Buffalo/215 Business Park, a 19-acre office and industrial project in southwest Las Vegas. The projects consists of 12 buildings for sale, lease or lease with an option to purchase and features 11 acres of fully developed land that can be held for future build-to-suit or speculative construction.
Panattoni recognized the value of product diversity within the park and the company quickly re-positioned the property. The firm’s strategy for marketing the former bank-owned property has been a rare success in the market, with its disposition and build-out well ahead of the initial two-year projected timetable. To date, the firm has closed escrow on two buildings, totaling more than $1,300,000 in sales and the project continues to generate interest from prospective tenants.
The Las Vegas division of Panattoni specializes in the development of industrial and office projects, including acquisition, fee development, and consulting. The firm prides itself on a portfolio of multi-market solutions, as well as its track record of completing quality projects on time and within budget. Panattoni has built a strong reputation in the market and is widely recognized for exceeding the demands of its tenants and brokers. The company’s valued relationships within the real estate brokerage community have established Panattoni as an industry leader in Southern Nevada.
