Summer 2009 Issue

Principal Member Profile: Territory Incorporated

Founded and directed by Terri Sturm in 1993, Territory Incorporated has developed more than 3 million square feet of anchored retail property in Southern Nevada, with an additional 2 million square feet in various stages of development.

With the additional leadership of Senior Vice President Nick Hannon, Territory provides development, leasing, and property management services, specializing in bringing nationally-recognized anchor tenants to quality locations. Its community retail developments feature tenants such as Best Buy, Sam’s Club, The Home Depot, 24 Hour Fitness and Wal-Mart, among others.

Territory remains committed to the Las Vegas market, building such developments as Centennial Center and its sister property Centennial Gateway, which total more than 1.3 million square feet in the valley’s northwest region. The company also marked an important milestone last year by expanding its reach beyond Southern Nevada. Territory is currently developing the 150,000-square-foot retail component of Newpark Town Center in Park City, Utah, an 820,000-square-foot mixed-use lifestyle development. The center is anchored by Best Buy, a boutique hotel, a museum, nightclubs, restaurants and shopping.

Territory has been actively involved in NAIOP Southern Nevada since its inception. Project Manager, Michael Shohet, serves as a principal member within the organization. Shohet was in the inaugural class of the Developing Leaders Institute in 2008, and now serves on the organizing committee for the 2009 class.

Mr. Shohet enjoys the strong relationships he has cultivated through his involvement in NAIOP, as well as staying informed on industry trends and government affairs developments. NAIOP Southern Nevada’s many educational and networking opportunities make it the most valuable organization in which Shohet is involved.

“It’s important to me to stay active in the community and share industry knowledge,” said Shohet. “And going through the Developing Leader Institute was a great opportunity for me to learn from the region’s industry leaders. It was a fantastic program that allowed me to expand my peer group and develop relationships that I will maintain throughout my career.”

By Ben Stephens, MassMedia Corporate Communications